BankAtlantic Bancorp’s chief executive officer testified Monday that banking “is a risky business” and top executives took responsibility for making judgment calls on developer loan applications before the housing collapse.
Alan B. Levan, the holding company’s CEO, was called to the stand late Monday and was expected to return to the stand today for more questioning in a shareholder class action claiming securities fraud based on BankAtlantic’s financial pronouncements as the real estate crisis took hold in 2007.
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