Exhibit 99.1

BankAtlantic Bancorp Reports Financial Results
For the Second Quarter, 2009

— BankAtlantic’s core⁽¹⁾ and total deposits reached $2.4 billion and $4.1 billion,
respectively, matching record levels —

— BankAtlantic’s core operating earnings ⁽²⁾ improved 16% over the prior quarter —

— BankAtlantic’s regulatory capital ratios continue to exceed all regulatory ‘well-capitalized’
thresholds and remain above December 31, 2008 levels —

          FORT LAUDERDALE, Florida — July 22, 2009 —BankAtlantic Bancorp, Inc. (NYSE: BBX) today reported a net loss from continuing operations of ($38.4) million, or ($3.41) per diluted share for the quarter ended June 30, 2009, compared to a net loss from continuing operations of ($46.6) million, or ($4.15) per diluted share for the quarter ended March 31, 2009, and a net loss from continuing operations of ($19.4) million, or ($1.73) per diluted share for the quarter ended June 30, 2008. BankAtlantic Bancorp’s pre-tax loss from continuing operations was ($38.4) million, ($46.6) million and ($31.5) million for the quarters ended June 30, 2009, March 31, 2009 and June 30, 2008, respectively.

          BankAtlantic Bancorp’s Chairman and Chief Executive Officer, Alan B. Levan commented, “Our results for the second quarter reflect the extraordinarily challenging times, as the U.S. economy and Florida, in particular, continue to experience one of the deepest and longest recessions in history. While the current economic environment presents many challenges which are largely out of our control, we are managing our business and focusing our efforts on those areas over which we have greater control with the goal of countering these recessionary impacts where possible. These efforts include de-leveraging our balance sheet, implementing strategies for diversifying our loan portfolio, continuing to build our low-cost deposit franchise, improving efficiency in our operations, and above all, focusing on building strong customer

(1)	Core deposits include Demand, Now and Savings accounts.
(2)	Core operating earnings is defined as pretax earnings before provision for loan losses, tax certificate provisions, debt redemption costs, FDIC special assessment and impairment, restructuring and exit activities.

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relationships. These are long-term efforts that we believe will position BankAtlantic well in a post-recessionary environment.

          “While we are not pleased with the loss being reported, we continue to be pleased with BankAtlantic’s core business results. Highlights for the second quarter of 2009 include:

•	“Core and total deposits have grown to match record highs, while our borrowings are at their lowest levels in over a decade;
•	“Pretax core operating earnings, net loss and net interest margin all improved over the first quarter of 2009;
•	“Both core(3) and total non-interest expenses are at their lowest levels since 2005;
•	“The increases in nonaccrual loans and nonperforming assets slowed during the quarter and no net increase in commercial real estate non-performing loans was experienced during the quarter;
•	“The allowance for loan losses is the highest in the bank’s history; and
•	“Our regulatory capital ratios remain well above all of the regulatory defined ‘well-capitalized’ thresholds, and reflect improvement from year-end 2008 levels.
	Capital ratios at June 30, 2009 were:

—     Core capital 7.01% (vs. regulatory well-capitalized level of 5%)

—     Tier I risk-based capital 9.93% (vs. regulatory well-capitalized level of 6%)

—     Total risk-based capital 11.81% (vs. regulatory well-capitalized level of 10%)

—     Tangible common equity/tangible assets 7.09%

          “Our near-term strategy remains the same and is straight-forward: we are focused on managing credit, maintaining appropriate capital levels and improving core operating earnings. Our goal is to continue to provide exceptional local service to our customers as we work to reposition the Company for sustainable profitability in the long term. Through it all, BankAtlantic continues to serve Florida’s residents and businesses as we have since 1952,” concluded Alan B. Levan.

(3) Core expenses exclude tax certificate provisions, debt redemption costs, FDIC special assessment, impairments, restructuring and exit activities.

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BankAtlantic Performance:

     Deposits and Liquidity— BankAtlantic’s Chief Executive Officer, Jarett S. Levan, commented, “BankAtlantic’s deposit base continues to be a stable, growing funding source with core and total deposits matching our prior reported peak of deposits in 2007.

• “Core and total deposits at June 30, 2009 grew to $2.4 billion and $4.1 billion, respectively, while maintaining the following strong characteristics:

— Non-CD balances represented approximately 70% of total deposits;

— The average cost of core deposits and total deposits for the second quarter of 2009 was 0.36% and 1.13%, respectively; and

— Brokered deposit balances represented only 4.3% of assets.

• “During the second quarter of 2009:

— Core deposits (Demand, NOW and Savings accounts) increased $86.9 million.

— Total deposits grew by $1.7 million, as the core deposit growth was partially offset by decreases in brokered CDs of $45.7 million and decreases in other non-core deposit categories of $39.5 million.

• “Year-to-date 2009:

— Core deposits increased approximately $274.4 million, representing a 12.7% increase from December 31, 2008.

— Total deposits increased approximately $128.7 million as the strong growth in core deposits offset net declines in non-core accounts.

          “Further, BankAtlantic reduced its borrowings significantly, resulting in its June 30, 2009 borrowings level of $666.8 million representing a 12 year low. Particularly in the current economic environment, we believe our low-cost deposit base combined with our significantly-reduced balance sheet leverage, reflect the fundamental strength of our franchise.

• “During the second quarter of 2009, borrowings were reduced by $291.1 million, or 30.4%.

• “Since June 30, 2008, borrowings have been reduced by $1.15 billion, or 63.3%.

• “BankAtlantic’s ratio of total borrowings to deposits plus borrowings was 14.1% at June 30, 2009 compared to 19.1% at March 31, 2009 and 31.6% at June 30, 2008.

     Net Income — “BankAtlantic’s pre-tax loss was ($24.2) million for the second quarter of 2009, compared to a pre-tax loss of ($40.6) million for the first quarter of 2009 and a pre-tax loss

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of ($23.5) million for the second quarter of 2008. Pre-tax core operating earnings (as defined above) for the second quarter of 2009 improved 16.4% to $18.9 million compared to $16.2 million in the first quarter of 2009. Loan loss and tax certificate provisions, goodwill impairment, debt redemption costs, impairment, restructuring and exit activity expenses and the FDIC special assessment, which are not included in core operating earnings, were ($43.1) million for the second quarter of 2009, ($56.8) million for the first quarter of 2009, and ($44.7) million for the second quarter of 2008.

     Net Interest Margin— “BankAtlantic’s net interest margin has remained relatively stable in spite of the increased pressure of nonperforming assets and reduced earning asset balances. We have proactively deleveraged our balance sheet and reduced assets through repayment of borrowings from scheduled loan and security payments and pay downs, and sales of investment securities.

• “Net interest income for the second quarter of 2009 was $40.1 million compared to $41.8 million during the first quarter of 2009 and $49.9 million in the second quarter of 2008.

• “Net interest margin during the second quarter of 2009 was 3.24%, improved from 3.14% during the first quarter of 2009, and compared to 3.58% during the second quarter of 2008.

• “Improvement in margin from the first quarter of 2009 was primarily due to a decline in average borrowings ($490.5 million), growth in low cost deposits, and run-off of certain higher fixed rate maturing deposits, which partially offset the impact of the decline of average earning assets of $361.9 million during the quarter and a $34.0 million increase in non-performing assets.

• “The decline in net interest income and margin from the second quarter of 2008 was primarily due to a $639.8 million decline in average earning assets, a $228.3 million increase in non-performing assets, and discontinuation of the FHLB stock dividend. These factors were partially offset by the significant reduction of average borrowings, which declined by $868.5 million, and continued growth in low cost deposits which served to reduce overall funding costs.

     Non-interest income — “This source of revenue continues to be a stable revenue stream for BankAtlantic.

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• “Total non-interest income was 45.0% of total revenue for the second quarter of 2009 compared to 42.4% for the comparable 2008 period.

• “Total non-interest income for the second quarter of 2009 was $32.8 million compared to $32.9 million in the first quarter of 2009 and $36.7 million for the comparable 2008 period, reflecting declining deposit fee trends during the past year.

• “Excluding securities gains of $4.3 million and $2.1 million in the first and second quarters of 2009, respectively, non-interest income improved to $30.7 million in the second quarter of 2009 from $28.5 million during the prior quarter, reflecting a modest increase in deposit fee activity. Excluding securities gains of $2.1 million and $2.0 million in the second quarter of 2009 and second quarter of 2008, respectively, non-interest income was down to $30.7 million during the second quarter of 2009 compared to $34.8 million in the second quarter of 2008.

     Non-interest expense — “Expense reduction initiatives have continued to result in savings. As noted above, BankAtlantic’s core and total non-interest expenses are both at their lowest quarterly levels since 2005.

• “Core expenses (as defined above) in the second quarter of 2009 were $54.0 million, or a 7.6% improvement over core expenses of $58.4 million during the first quarter of 2009, and a 17.5% improvement over core expenses of $65.5 million during the second quarter of 2008.

• “Year-to-date, core expenses reflected a 16.3% improvement over comparable 2008 levels.

“Expenses not included in core expenses consisted of the following:

• “FDIC special assessment charges of $2.4 million in the second quarter of 2009 compared to none in the prior 2009 or comparable 2008 quarter.

• “Impairment, restructuring and exit charges of $1.8 million in the second quarter of 2009, down from $11.2 million (which included $9.1 million in goodwill impairment) in the prior 2009 quarter and $6.0 million in the second quarter of 2008. The charges in the current quarter primarily related to impairments of property and leaseholds held for sale driven largely by the depressed real estate market, and write-downs of real estate owned.

• “Tax certificate provision expense of $1.4 million in the second quarter of 2009 compared to $1.5 million in the prior 2009 quarter and $0.9 million in the second quarter

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	of 2008. The increased provision in 2009 primarily related to certain out of state tax certificates held in distressed real estate markets.
•	“Costs associated with debt redemption of $1.4 million compared to $0.6 million in the prior 2009 quarter. These costs were associated with the prepayment of certain FHLB borrowings as part of our balance sheet de-leveraging efforts.

Credit Risk Management:

• “The provision for loan losses in the second quarter of 2009 was $36.0 million, increasing BankAtlantic’s allowance for loan losses to $156.8 million at June 30, 2009. The provision represented 3.79% of total loans at June 30, 2009, compared to 3.41% at March 31, 2009 and 2.21% at June 30, 2008.

• “The provision for loan losses in the second quarter of 2009 primarily related to our Residential Real Estate, Commercial Real Estate, and Consumer loan portfolios, as those portfolios continue to experience elevated levels of delinquencies, charge-offs and non-accrual loans, and continue to be adversely affected by declining collateral values and general economic conditions.

• “Second quarter 2009 net charge-offs were $25.8 million, compared to net charge-offs of $22.5 million in the first quarter of 2009, and net charge-offs of $22.8 million during the second quarter of 2008.

— Second quarter 2009 net charge-offs included charge-offs of $10.5 million in the Commercial Real Estate loan portfolio, $9.0 million in the Consumer Loan portfolio, $3.6 million in the Residential Real Estate loan portfolio and $2.2 million in the Small Business loan portfolio.

• “Total non-accrual loans were $295.4 million at June 30, 2009. This represented an increase of $24.0 million from the prior quarter, compared to an increase of $63.4 million in the first quarter of 2009 over the fourth quarter of 2008. The increase in non-accrual loans at June 30, 2009 included a net increase of $19.1 million in Residential Real Estate non-accrual loans and $3.8 million in Consumer non-accrual loans, while net Commercial Real Estate non-accrual loans were flat.

• “Real Estate Owned increased $8.5 million during the second quarter of 2009 to $30.2 million, with transfers primarily from the Commercial Real Estate portfolio.

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Other credit information for BankAtlantic’s three largest loan portfolios is further detailed below.

          Commercial Real Estate Loans — “We continued to experience losses in our $1.2 billion commercial real estate portfolio as the economic environment continued to impact our borrowers.

• “Net charge-offs increased for the second quarter of 2009 to $10.5 million, compared to net charge-offs in the prior 2009 quarter of $5.3 million.

• “Delinquencies, excluding non-accrual loans, improved to $22.8 million or 1.90% of total loans at June 30, 2009, compared to $44.8 million or 3.68% of total loans at March 31, 2009.

• “Total Commercial Real Estate non-accrual loans decreased by $0.5 million during the second quarter to $204.1 million at June 30, 2009, with increases in non-accrual loan balances offset by charge-offs, transfers of two loans totaling $7.6 million into Real Estate Owned, the sale of one $4.7 million loan, and payments from borrowers.

     At June 30, 2009, BankAtlantic’s Commercial Real Estate loan portfolio included the following:

• “Commercial residential land acquisition, development and construction loans were as follows:

— Builder land bank loans: Consisted of 7 loans aggregating $59.4 million, including 6 loans aggregating $58.3 million on non-accrual at June 30, 2009.

— Land acquisition and development loans: Consisted of 30 loans aggregating $191.9 million, including 9 loans aggregating $61.1 million on non-accrual at June 30, 2009.

— Land acquisition, development and construction loans: Consisted of 7 loans aggregating $19.2 million, including one $6.8 million loan on non-accrual at June 30, 2009.

• “Commercial land loans: Consisted of 30 loans aggregating $111.7 million, including 6 loans aggregating $40.9 million on nonaccrual at June 30, 2009.

• “All other Commercial real estate loans: Portfolio of $818.5 million, including 12 loans aggregating $37.1 million on nonaccrual at June 30, 2009.

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• Residential Loans — “Our Residential loan portfolio was $1.8 billion at June 30, 2009, representing 42.6% of the Bank’s total loans. The purchased residential loan portfolio (representing 96% of the total residential loan portfolio) consists of approximately 5,700 first mortgage loans secured by properties throughout the United States, the weighted average FICO score of borrowers in this portfolio was 741 at the time of origination and the original back end debt ratio was a weighted average of 33.5%. Standard products in this portfolio have never included subprime, negative amortizing, option-arm or ‘pick-a-payment’ loans.

• “Non-accrual balances increased during the second quarter of 2009 by $19.1 million to $64.7 million at June 30, 2009.

• “Delinquencies, excluding non-accrual loans, improved slightly to $24.4 million or 1.39% of the portfolio at June 30, 2009, compared to $27.4 million or 1.46% of the portfolio at March 31, 2009.

• “Net charge-offs in the second quarter of 2009 improved slightly to $3.6 million versus $4.3 million in the first quarter of 2009.

• “The allowance for Residential loans was increased during the second quarter of 2009 by approximately $10 million reflecting increased non-accrual balances and the decline in certain underlying collateral values.

We expect that the delinquency levels and loss trends in the Residential portfolio will continue to mirror the broader economy and unemployment trends.

          Consumer Loans — “Our Consumer Loan portfolio had an outstanding balance of $708.9 million at June 30, 2009, with home equity loans representing 98.5% of this portfolio. All of our home equity loans were originated by us in our local markets with central underwriting. Approximately 24% of the loans in this portfolio are secured by first mortgages.

• “Non-accrual balances increased during the second quarter of 2009 by $3.8 million to $11.8 million at June 30, 2009.

• “Delinquencies, excluding non-accrual loans, improved to $9.9 million or 1.40% of the portfolio at June 30, 2009, compared to $12.4 million or 1.71% of the portfolio at March 31, 2009.

• “Net charge-offs in the second quarter of 2009 improved slightly to $9.0 million versus $10.2 million in the first quarter of 2009, however we believe this improvement was due

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to the timing of billing and charge-off cycles during the second quarter and may not be indicative of a positive trend at this time.

          “We continue to work diligently with borrowers experiencing difficulties and regularly evaluate our consumer loan available commitments in an effort to reduce our overall exposure where appropriate. We believe delinquency and charge-off trends in this portfolio will continue to mirror the Florida economy, unemployment trends and any further declines in housing prices.

Capital

          “During the second quarter of 2009, management continued to focus on efforts aimed at maintaining appropriate capital levels. Capital ratios at June 30, 2009 remained well above all of the regulatory defined well-capitalized thresholds, and reflect improvement from December 31, 2008 levels. Capital ratios at June 30, 2009 were:

• Core capital 7.01% (vs. regulatory well capitalized level of 5%)

• Tier I risk-based capital 9.93% (vs. regulatory well capitalized level of 6%)

• Total risk-based capital 11.81% (vs. regulatory well capitalized level of 10%)

• Tangible common equity/tangible assets 7.09%

Steps taken at BankAtlantic during the second quarter of 2009 which impacted capital levels included:

• Pre-provision net earnings (net loss from bank operations, excluding provision for loan losses) of $11.8 million;

• Reduced total and risk-based assets through balance sheet de-leveraging activities (primarily through repayment of borrowings with scheduled loan and security payments and pay downs, and sales of investment securities);

• Capital contribution of $5.0 million from BankAtlantic Bancorp; and

• Continued suspension of dividends from BankAtlantic”

BankAtlantic Bancorp:

          Alan B. Levan further commented, “During the second quarter of 2009, BankAtlantic Bancorp (“Bancorp”) contributed $5.0 million in capital to BankAtlantic. While BankAtlantic did not require this capital contribution to maintain its well-capitalized ratio levels, Bancorp continued to demonstrate its intent to support BankAtlantic. Year-to-date, Bancorp has contributed $30 million in capital to BankAtlantic.

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          “During the second quarter of 2009, Bancorp recorded an other-than-temporary impairment of $1.4 million on a $1.6 million investment in preferred stock of a bank holding company.

          Asset Workout Subsidiary — “As previously discussed, during the first quarter of 2008, Bancorp formed a wholly-owned asset workout subsidiary and purchased certain non-accrual loans from BankAtlantic. These assets are no longer held by BankAtlantic, and any gain or loss associated with these assets have no impact on BankAtlantic’s operations or capital, but will be included in Bancorp’s consolidated results. These assets, as with all other assets and liabilities of Bancorp, should not be combined with those of BankAtlantic when evaluating and comparing metrics for BankAtlantic as the insured financial institution.

          “The loans held by the workout subsidiary totaled $67.9 million with specific loan reserves of $15.4 million at June 30, 2009. During the second quarter of 2009, these loans were written-down by $3.9 million and two loans totaling $4.1 million were transferred to Real Estate Owned. The breakdown of the non-accrual loans held by the Company’s asset workout subsidiary at June 30, 2009 was as follows:

• “Builder land bank loans: Comprised of 3 loans aggregating $17.5 million.

• “Land acquisition and development loans: Comprised of 4 loans aggregating $16.7 million.

• “Land acquisition, development and construction loans: Comprised of 8 loans aggregating $24.8 million.

• “Commercial business loans: Comprised of 3 loans aggregating $5.6 million.

     “While the environment continues to present significant challenges for our customers and our business, we are hopeful that recent positive indications in economic data, although slight and possibly temporary, are initial signs of at least a more stabilized environment and possible improvements to come. While we must prepare for a prolonged downturn, we look forward to a bright future for Florida, our customers and BankAtlantic.” concluded Alan B. Levan.

Additional detailed financial data for BankAtlantic (bank only), the Parent- BankAtlantic Bancorp, and consolidated BankAtlantic Bancorp are available at www.BankAtlanticBancorp.com .

To view the financial data, access the “Investor Relations” section and click on the “Quarterly Financials,” “Supplemental Financials” or “Financial Information” navigation links.

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Additionally, BankAtlantic’s financial information is provided quarterly to the OTS through Thrift Financial Reports, available to the public through the OTS and FDIC websites.

Additionally, copies of BankAtlantic Bancorp’s second quarter 2009 financial results press release and financial data are available upon request via fax, email, or postal service mail. To request a copy, contact BankAtlantic Bancorp’s Investor Relations department using the contact information listed below.

BankAtlantic Bancorp plans to host an investor and media teleconference call and webcast on Thursday, July 23, 2009, at 11:00 a.m. (Eastern Time).

Teleconference Call Information:

          To access the teleconference call in the U.S. and Canada, the toll free number to call is 1-800-968-8156. International calls may be placed to 706-634-5752. Domestic and international callers may reference conference ID number 20264683.

          A replay of the conference call will be available beginning two hours after the call’s completion through 5:00 p.m. Eastern Time, Monday, August 24, 2009. To access the replay option in the U.S. and Canada, the toll free number to call is 1-800-642-1687. International calls for the replay may be placed at 706-645-9291. The replay digital conference ID number for both domestic and international calls is 20264683.

Webcast Information:

Alternatively, individuals may listen to the live and/or archived webcast of the teleconference call. To listen to the webcast, visit www.BankAtlanticBancorp.com, access the “Investor Relations” section and click on the “Webcast” navigation link, or go directly to http://www.visualwebcaster.com/event.asp?id=60524. The archive of the teleconference call will be available through 5:00 p.m. Eastern Time, Thursday, August 6, 2009.

About BankAtlantic Bancorp:

BankAtlantic Bancorp (NYSE: BBX) is a bank holding company and the parent company of BankAtlantic.

About BankAtlantic:

BankAtlantic, Florida’s Most Convenient Bank, is one of the largest financial institutions headquartered in Florida. Via its broad network of community branches, online banking division — BankAtlantic.com , and conveniently located ATMs, BankAtlantic provides a full line of personal, small business and commercial banking products and services. BankAtlantic is open 7 days a week with extended weekday hours, Free Online Banking & Bill Pay, a 7-Day Customer Service Center and Change Exchange coin counters.

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For further information, please visit our websites:
www.BankAtlanticBancorp.com
www.BankAtlantic.com

To receive future BankAtlantic Bancorp news releases or announcements directly via Email, please click on the Email Broadcast Sign Up button on our website: www.BankAtlanticBancorp.com.

BankAtlantic Bancorp Contact Info:
Leo Hinkley, Investor Relations Officer
Telephone: (954) 940-5300
Email: InvestorRelations@BankAtlanticBancorp.com

BankAtlantic, “Florida’s Most Convenient Bank,” Contact Info:
Media Relations:
Sharon Lyn, Vice President
Telephone: 954-940-6383, Fax: 954-940-5320
Email: CorpComm@BankAtlanticBancorp.com

Public Relations for BankAtlantic:
Rbb Public Relations
Sandra Fine
Telephone: 305-567-0535, Fax: 305-448-5027
Email: sandra.fine@rbbpr.com

# # #

Except for historical information contained herein, the matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), that involve substantial risks and uncertainties. Actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of BankAtlantic Bancorp, Inc. (“the Company”) and are subject to a number of risks and uncertainties that are subject to change based on factors which are, in many instances, beyond the Company’s control. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, products and services, including the impact of the changing regulatory environment, a continued or deepening recession and increased unemployment on our business generally, our well capitalized regulatory capital ratios, as well as the ability of our borrowers to service their obligations and

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of our customers to maintain account balances; credit risks and loan losses, and the related sufficiency of the allowance for loan losses, including the impact on the credit quality of our loans (including those held in the asset workout subsidiary of the Company) of a sustained downturn in the economy and in the real estate market and other changes in the real estate markets in our trade area, and where our collateral is located; the quality of our real estate based loans including our residential land acquisition and development loans (including Builder land bank loans, Land acquisition and development loans and Land acquisition, development and construction loans) as well as Commercial land loans, other Commercial real estate loans, and Commercial business loans, and conditions specifically in those market sectors; the risks of additional charge-offs, impairments and required increases in our allowance for loan losses; changes in interest rates and the effects of, and changes in, trade, monetary and fiscal policies and laws including their impact on the bank’s net interest margin; adverse conditions in the stock market, the public debt market and other financial and credit markets and the impact of such conditions on our activities, the value of our assets and on the ability of our borrowers to service their debt obligations and maintain account balances; BankAtlantic’s seven-day banking initiatives and other initiatives not resulting in continued growth of core deposits or increasing average balances of new deposit accounts or producing results which do not justify their costs; the success of our expense reduction initiatives and the ability to achieve additional cost savings; and the impact of periodic valuation testing of goodwill, deferred tax assets and other assets. Past performance, actual or estimated new account openings and growth may not be indicative of future results. In addition to the risks and factors identified above, reference is also made to other risks and factors detailed in reports filed by the Company with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2008. The Company cautions that the foregoing factors are not exclusive.

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BankAtlantic Bancorp, Inc. and Subsidiaries
Summary of Selected Financial Data (unaudited)

																	For the Six
		For the Three Months Ended															Months Ended
		6/30/2009			3/31/2009			12/31/2008			9/30/2008			6/30/2008			6/30/2009			6/30/2008
Earnings (in thousands):
Net loss from continuing operations		$	(38,356	)		(46,611	)		(164,335	)		(10,982	)		(19,363	)		(84,967	)		(43,927	)
Net loss		$	(38,356	)		(42,410	)		(153,770	)		(6,063	)		(19,363	)		(80,766	)		(42,806	)
Pre-tax core operating earnings	(note 1)	$	12,238			10,953			(2,111	)		16,323			22,615			23,191			25,671
Average Common Shares Outstanding (in thousands):
Basic			11,237			11,234			11,231			11,228			11,223			11,235			11,221
Diluted			11,237			11,234			11,231			11,228			11,223			11,235			11,221
Key Performance Ratios
Diluted loss per share from continuing operations	(note 2)	$	(3.41	)		(4.15	)		(14.63	)		(0.98	)		(1.73	)		(7.56	)		(3.91	)
Diluted loss per share	(note 2)	$	(3.41	)		(3.78	)		(13.69	)		(0.54	)		(1.73	)		(7.19	)		(3.81	)
Return on average tangible assets from continuing operations	(note 3)	%	(2.88	)		(3.24	)		(10.96	)		(0.69	)		(1.26	)		(3.07	)		(1.41	)
Return on average tangible equity from continuing operations	(note 3)	%	(80.39	)		(81.46	)		(192.00	)		(12.76	)		(21.63	)		(81.01	)		(23.75	)
Average Balance Sheet Data (in millions):
Assets		$	5,351			5,775			6,073			6,397			6,235			5,562			6,292
Tangible assets	(note 3)	$	5,334			5,749			5,999			6,322			6,160			5,540			6,217
Loans, gross		$	4,302			4,435			4,482			4,544			4,571			4,368			4,607
Investments		$	705			947			1,054			1,347			1,138			825			1,164
Deposits and escrows		$	4,089			3,986			3,917			3,935			3,907			4,038			3,928
Stockholders’ equity		$	205			250			410			415			435			227			447
Tangible stockholders’ equity	(note 3)	$	191			229			342			344			358			210			370

Note:
(1)	Pre-tax core operating earnings excludes provision for loan losses, cost associated with debt redemption, provision for tax certificates, FDIC special assessment, impairments, restructuring and exit activities. See reconciliation of pre-tax loss to pre-tax core operating earnings in BankAtlantic Bancorp’s and BankAtlantic’s consolidated statements of operations.
(2)	Diluted and basic loss per share are the same for all periods presented.
(3)	Average tangible assets is defined as average total assets less average goodwill and core deposit intangibles. Average tangible equity is defined as average total stockholders’ equity less average goodwill, core deposit intangibles and other comprehensive income.

BankAtlantic Bancorp, Inc. and Subsidiaries
Consolidated Statements of Financial Condition (unaudited)

	June 30,			December 31,
(in thousands)	2009			2008
ASSETS
Cash and cash equivalents	$	213,476			158,957
Securities available for sale (at fair value)		431,976			701,845
Investment securities (approximate fair value: $3,015 and $2,503)		2,036			2,036
Tax certificates, net of allowance of $7,508 and $6,064		179,110			213,534
Loans receivable, net of allowance for loan losses of $172,220 and $137,257		4,036,754			4,326,651
Federal Home Loan Bank stock, at cost which approximates fair value		48,751			54,607
Real estate held for development and sale		18,349			18,383
Real estate owned		34,317			19,045
Office properties and equipment, net		209,064			216,978
Goodwill and other intangible assets		16,461			26,244
Other assets		70,731			76,277
Total assets	$	5,261,025			5,814,557
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Deposits
Demand	$	802,446			741,691
Savings		438,127			419,494
NOW		1,187,742			992,762
Money market		395,903			427,762
Certificates of deposit		1,230,829			1,344,659
Total deposits		4,055,047			3,926,368
Advances from FHLB		597,020			967,028
Securities sold under agreements to repurchase		25,821			46,084
Federal funds purchased and other short term borrowings		5,553			238,339
Subordinated debentures and bonds payable		22,781			22,864
Junior subordinated debentures		301,353			294,195
Other liabilities		86,883			75,711
Total liabilities		5,094,458			5,570,589
Stockholders’ equity:
Common stock		113			113
Additional paid-in capital		220,375			218,974
Retained (deficit) earnings		(48,381	)		32,667
Total stockholders’ equity before accumulated other comprehensive loss		172,107			251,754
Accumulated other comprehensive loss		(5,540	)		(7,786	)
Total stockholders’ equity		166,567			243,968
Total liabilities and stockholders’ equity	$	5,261,025			5,814,557

BankAtlantic Bancorp, Inc. and Subsidiaries
Consolidated Statements of Operations (unaudited)

																	For the Six
		For the Three Months Ended															Months Ended
(in thousands)		6/30/2009			3/31/2009			12/31/2008			9/30/2008			6/30/2008			6/30/2009			6/30/2008
INTEREST INCOME:
Interest and fees on loans		$	47,747			49,678			56,660			60,843			61,583			97,425			129,719
Interest on securities available for sale			6,328			8,559			9,434			9,966			10,553			14,887			21,043
Interest on tax certificates			3,061			4,193			4,769			8,893			4,926			7,254			8,491
Interest and dividends on investments			44			179			250			1,482			1,425			223			2,966
Total interest income			57,180			62,609			71,113			81,184			78,487			119,789			162,219
INTEREST EXPENSE:
Interest on deposits			11,527			12,987			15,610			15,552			14,508			24,514			33,101
Interest on advances from FHLB			5,082			7,164			10,162			13,401			12,433			12,246			27,379
Interest on short-term borrowed funds			19			172			151			330			725			191			2,004
Interest on long-term debt			4,280			4,538			6,008			5,484			5,220			8,818			11,503
Total interest expense			20,908			24,861			31,931			34,767			32,886			45,769			73,987
NET INTEREST INCOME			36,272			37,748			39,182			46,417			45,601			74,020			88,232
Provision for loan losses			43,494			44,277			38,452			31,214			47,247			87,771			90,135
NET INTEREST INCOME AFTER PROVISION			(7,222	)		(6,529	)		730			15,203			(1,646	)		(13,751	)		(1,903	)
NON-INTEREST INCOME:
Service charges on deposits			19,347			18,685			21,501			23,924			24,466			38,032			48,480
Other service charges and fees			8,059			7,025			7,096			7,309			7,121			15,084			14,554
Securities activities, net			693			4,440			(3,320	)		1,132			8,965			5,133			4,227
Other			3,423			2,959			2,576			2,831			3,324			6,382			7,254
Total non-interest income			31,522			33,109			27,853			35,196			43,876			64,631			74,515
NON-INTEREST EXPENSE:
Employee compensation and benefits			25,935			28,806			28,882			31,679			33,181			54,741			68,336
Occupancy and equipment			14,842			14,911			16,228			15,996			16,172			29,753			32,558
Advertising and business promotion			1,979			2,832			4,348			3,430			3,662			4,811			8,557
Professional fees			2,695			3,326			4,622			3,160			2,219			6,021			4,979
Check losses			991			844			1,854			2,094			2,101			1,835			4,819
Supplies and postage			999			1,004			1,294			1,080			1,282			2,003			2,288
Telecommunication			586			698			866			753			1,331			1,284			2,833
Cost associated with debt redemption			1,441			591			1,236			—			1			2,032			2
Provision for tax certificates			1,414			1,486			3,641			2,838			924			2,900			807
Impairment of goodwill			—			9,124			48,284			—			—			9,124			—
Impairment, restructuring and exit activities			1,817			2,086			3,620			522			5,952			3,903			5,887
FDIC special assessment			2,428			—			—			—			—			2,428			—
Other			7,529			7,483			11,052			7,098			6,914			15,012			12,706
Total non-interest expense			62,656			73,191			125,927			68,650			73,739			135,847			143,772
Loss from continuing operations before income taxes			(38,356	)		(46,611	)		(97,344	)		(18,251	)		(31,509	)		(84,967	)		(71,160	)
Provision (benefit) for income taxes			—			—			66,991			(7,269	)		(12,146	)		—			(27,233	)
Loss from continuing operations			(38,356	)		(46,611	)		(164,335	)		(10,982	)		(19,363	)		(84,967	)		(43,927	)
Discontinued operations			—			4,201			10,565			4,919			—			4,201			1,121
Net loss		$	(38,356	)		(42,410	)		(153,770	)		(6,063	)		(19,363	)		(80,766	)		(42,806	)
Reconciliation of pre-tax loss to pre-tax core operating earnings
Loss from continuing operations before income taxes		$	(38,356	)		(46,611	)		(97,344	)		(18,251	)		(31,509	)		(84,967	)		(71,160	)
Costs associated with debt redemption			1,441			591			1,236			—			1			2,032			2
Provision for tax certificates			1,414			1,486			3,641			2,838			924			2,900			807
Impairment of goodwill			—			9,124			48,284			—			—			9,124			—
Impairment, restructuring and exit activities			1,817			2,086			3,620			522			5,952			3,903			5,887
FDIC special assessment			2,428			—			—			—			—			2,428			—
Provision for loan losses			43,494			44,277			38,452			31,214			47,247			87,771			90,135
Pre-tax core operating earnings	(note 1)	$	12,238			10,953			(2,111	)		16,323			22,615			23,191			25,671

BankAtlantic Bancorp, Inc. and Subsidiaries
Consolidated Average Balance Sheet (unaudited)

		For the Three Months Ended
(in thousands except percentages and per share data)		6/30/2009			3/31/2009			12/31/2008			9/30/2008			6/30/2008
Loans:
Residential real estate		$	1,821,553			1,916,589			1,956,429			2,010,749			2,086,519
Commercial real estate			1,291,536			1,305,809			1,309,670			1,320,678			1,292,627
Consumer			730,988			744,371			754,709			755,050			743,123
Commercial business			141,254			146,703			138,598			135,909			129,332
Small business			316,287			321,991			322,417			322,048			319,096
Total Loans			4,301,618			4,435,463			4,481,823			4,544,434			4,570,697
Investments			704,874			947,219			1,054,126			1,346,852			1,137,831
Total interest earning assets			5,006,492			5,382,682			5,535,949			5,891,286			5,708,528
Goodwill and core deposit intangibles			16,618			25,971			74,166			75,029			75,401
Other non-interest earning assets			327,876			365,847			462,813			430,683			450,999
Total assets		$	5,350,986			5,774,500			6,072,928			6,396,998			6,234,928
Tangible assets	(note 3)	$	5,334,368			5,748,529			5,998,762			6,321,969			6,159,527
Deposits:
Demand deposits		$	810,006			775,982			770,152			812,505			878,864
Savings			451,122			441,278			425,256			471,270			552,094
NOW			1,159,531			1,047,116			958,389			955,392			941,964
Money market			412,065			421,883			461,253			557,343			617,013
Certificates of deposit			1,256,299			1,300,056			1,301,953			1,138,615			917,133
Total deposits			4,089,023			3,986,315			3,917,003			3,935,125			3,907,068
Short-term borrowed funds			45,433			253,317			110,080			79,503			148,407
FHLB advances			625,254			903,077			1,258,944			1,598,111			1,389,835
Long-term debt			320,945			317,184			319,400			320,283			320,469
Total borrowings			991,632			1,473,578			1,688,424			1,997,897			1,858,711
Other liabilities			65,599			65,092			57,852			48,981			34,023
Total liabilities			5,146,254			5,524,985			5,663,279			5,982,003			5,799,802
Stockholders’ equity			204,732			249,515			409,649			414,995			435,126
Total liabilities and stockholders’ equity		$	5,350,986			5,774,500			6,072,928			6,396,998			6,234,928
Other comprehensive (loss) income in stockholders’ equity			(2,729	)		(5,347	)		(6,874	)		(4,184	)		1,679
Tangible stockholders’ equity	(note 3)	$	190,843			228,891			342,357			344,150			358,046
Net Interest Margin			2.89	%		2.78	%		2.85	%		3.16	%		3.18	%
Period End
Total loans, net		$	4,036,754			4,212,536			4,326,651			4,405,098			4,442,529
Total assets			5,261,025			5,570,760			5,814,557			6,227,884			6,514,975
Total stockholders’ equity			166,567			207,015			243,968			400,233			408,206
Class A common shares outstanding			10,264,106			10,259,344			10,258,057			10,254,570			10,251,382
Class B common shares outstanding			975,225			975,225			975,225			975,225			975,225
Book value per share			14.82			18.43			21.72			35.63			36.36
Tangible book value per share			13.85			17.18			20.08			29.47			30.02
High stock price for the quarter			4.75			5.67			11.82			15.00			20.75
Low stock price for the quarter			1.99			0.66			2.25			4.05			7.80
Closing stock price			3.86			2.01			5.80			8.20			8.80

Bank Operations Business Segment
Condensed Statements of Operations (Unaudited)

																For the Six
	For the Three Months Ended															Months Ended
(in thousands)	6/30/2009			3/31/2009			12/31/2008			9/30/2008			6/30/2008			6/30/2009			6/30/2008
Net interest income	$	40,078			41,769			44,525			51,195			49,923			81,847			97,928
Provision for loan losses		35,955			43,520			31,770			22,924			37,801			79,475			80,689
Net interest income after provision for loan losses		4,123			(1,751	)		12,755			28,271			12,122			2,372			17,239
Non-interest income
Service charges on deposits		19,347			18,685			21,501			23,924			24,466			38,032			48,480
Other service charges and fees		8,059			7,025			7,096			7,309			7,121			15,084			14,554
Securities activities, net		2,067			4,320			93			1			1,960			6,387			2,301
Other non-interest income		3,303			2,835			2,419			2,684			3,181			6,138			6,946
Total non-interest income		32,776			32,865			31,109			33,918			36,728			65,641			72,281
Non-interest expense
Employee compensation and benefits		24,985			28,078			29,137			30,353			32,118			53,063			66,361
Occupancy and equipment		14,842			14,910			16,227			15,993			16,171			29,752			32,554
Advertising and business promotion		1,846			2,781			4,243			3,388			3,564			4,627			8,425
Professional fees		2,336			2,944			4,019			2,696			2,004			5,280			4,264
Check losses		991			844			1,854			2,094			2,101			1,835			4,819
Supplies and postage		991			1,000			1,220			1,076			1,281			1,991			2,284
Telecommunication		580			694			860			748			1,326			1,274			2,822
Cost associated with debt redemption		1,441			591			1,236			—			1			2,032			2
Provision for tax certificates		1,414			1,486			3,641			2,838			924			2,900			807
Impairment of goodwill		—			9,124			48,284			—			—			9,124			—
Impairment, restructuring and exit activities		1,817			2,086			3,620			522			5,952			3,903			5,887
FDIC special assessment		2,428			—			—			—			—			2,428			—
Other		7,406			7,165			8,513			7,098			6,895			14,571			12,738
Total non-interest expense		61,077			71,703			122,854			66,806			72,337			132,780			140,963
Loss from bank operations business segment before income taxes		(24,178	)		(40,589	)		(78,990	)		(4,617	)		(23,487	)		(64,767	)		(51,443	)
Provision (benefit) for income taxes		—			—			54,022			(2,525	)		(9,428	)		—			(20,403	)
Net loss from bank operations business segment	$	(24,178	)		(40,589	)		(133,012	)		(2,092	)		(14,059	)		(64,767	)		(31,040	)
Reconciliation of pre-tax loss to pre-tax core operating earnings
Loss from bank operations business segment before income taxes		(24,178	)		(40,589	)		(78,990	)		(4,617	)		(23,487	)		(64,767	)		(51,443	)
Costs associated with debt redemption		1,441			591			1,236			—			1			2,032			2
Provision for tax certificates		1,414			1,486			3,641			2,838			924			2,900			807
Impairment of goodwill		—			9,124			48,284			—			—			9,124			—
Impairment, restructuring and exit activities		1,817			2,086			3,620			522			5,952			3,903			5,887
FDIC special assessment		2,428			—			—			—			—			2,428			—
Provision for loan losses		35,955			43,520			31,770			22,924			37,801			79,475			80,689
Pre-tax core operating earnings		18,877			16,218			9,561			21,667			21,191			35,095			35,942

Bank Operations Business Segment
Condensed Statements of Condition and Statistics (Unaudited)

																	For the
		For the Three Months Ended															Months Ended
(in thousands except percentages)		6/30/2009			3/31/2009			12/31/2008			9/30/2008			6/30/2008			6/30/2009			6/30/2008
Statistics:
Average interest earning assets		$	4,929,849			5,291,754			5,436,572			5,770,265			5,569,690			5,109,802			5,619,575
Average interest bearing liabilities		$	3,992,654			4,414,439			4,571,084			4,839,138			4,610,344			4,202,381			4,661,628
Average tangible assets		$	5,254,284			5,648,268			5,881,742			6,187,300			6,002,728			5,450,188			6,044,342
Average tangible equity		$	391,404			401,665			492,366			486,523			466,141			396,505			467,044
Period end borrowings to deposits and borrowings		%	14.12			19.12			24.89			29.53			31.61			14.12			31.61
Yield on interest earning assets		%	4.62			4.72			5.22			5.61			5.61			4.67			5.75
Cost of interest-bearing liabilities		%	1.70			1.90			2.30			2.45			2.46			1.80			2.74
Interest spread		%	2.92			2.82			2.92			3.16			3.15			2.87			3.01
Net interest margin		%	3.24			3.14			3.29			3.56			3.58			3.19			3.48
Performance:
Efficiency ratio		%	83.83			96.07			162.43			78.49			83.48			90.03			82.82
Pre-tax core operating earnings	(note 1)	$	18,877			16,218			9,561			21,667			21,191			35,095			35,942
Core operating efficiency ratio	(note 1)	%	74.09			78.27			87.36			74.54			75.54			76.20			78.88
Return on average tangible assets		%	(1.84	)		(2.87	)		(9.05	)		(0.14	)		(0.94	)		(2.38	)		(1.03	)
Return on average tangible equity		%	(24.71	)		(40.42	)		(108.06	)		(1.72	)		(12.06	)		(32.67	)		(13.29	)
Tangible capital to tangible assets		%	7.09			7.10			6.83			7.89			7.54
Earning assets repricing at period end:
Percent of earning assets that have fixed rates		%	51			50			49			53			52
Percent of earning assets that have variable rates		%	49			50			51			47			48
One year Gap		%	2			(3	)		3			(2	)		1
Regulatory capital ratios at period end
Total risk-based capital		%	11.81			11.86			11.63			11.75			11.77
Tier I risk-based capital		%	9.93			10.01			9.80			9.95			9.99
Core capital		%	7.01			6.97			6.80			6.89			6.82

Bank Operations Business Segment
Condensed Statements of Financial Condition (Unaudited)

	As of
(in thousands)	6/30/2009		3/31/2009		12/31/2008		9/30/2008		6/30/2008
ASSETS
Loans receivable, net	$	3,984,305		4,147,713		4,256,741		4,328,467		4,357,541
Investment securities		227,861		221,392		268,141		371,181		501,741
Available for sale securities		431,762		518,871		700,250		731,279		755,651
Goodwill		13,081		13,081		22,205		70,489		70,489
Core deposit intangible asset		3,380		3,703		4,039		4,375		4,711
Other assets		529,322		583,843		462,314		607,188		679,015
Total assets	$	5,189,711		5,488,603		5,713,690		6,112,979		6,369,148
LIABILITIES AND STOCKHOLDER’S EQUITY
Deposits
Demand	$	802,446		798,687		741,691		767,179		891,142
Savings		438,127		457,991		419,494		432,246		526,303
NOW		1,187,742		1,084,744		992,762		938,366		939,714
Money market		395,903		413,777		427,762		494,505		621,899
Certificates of deposit		1,230,829		1,298,114		1,344,659		1,235,936		955,921
Total deposits		4,055,047		4,053,313		3,926,368		3,868,232		3,934,979
Advances from Federal Home Loan Bank		597,020		817,024		967,028		1,468,032		1,657,036
Short term borrowings		47,039		118,077		311,074		127,041		135,200
Long term debt		22,781		22,822		22,864		26,098		26,287
Other liabilities		84,454		72,279		71,643		72,552		65,655
Total liabilities		4,806,341		5,083,515		5,298,977		5,561,955		5,819,157
Stockholder’s equity		383,370		405,088		414,713		551,024		549,991
Total liabilities and stockholder’s equity	$	5,189,711		5,488,603		5,713,690		6,112,979		6,369,148

Bank Operations Business Segment
Average Balance Sheet — Yield / Rate Analysis

	For the Three Months Ended
	June 30, 2009							June 30, 2008
	Average		Revenue/		Yield/			Average		Revenue/		Yield/
( in thousands)	Balance		Expense		Rate			Balance		Expense		Rate
Loans:
Residential real estate	$	1,821,553		23,351		5.13	%	$	2,086,519		28,469		5.46	%
Commercial real estate		1,218,371		12,095		3.97			1,194,902		16,979		5.68
Consumer		730,989		5,291		2.90			743,123		8,273		4.45
Commercial business		139,718		1,865		5.34			127,229		2,224		6.99
Small business		316,287		4,983		6.30			319,095		5,521		6.92
Total loans		4,226,918		47,585		4.50			4,470,868		61,466		5.50
Investments		702,931		9,405		5.35			1,098,822		16,615		6.05
Total interest earning assets		4,929,849		56,990		4.62	%		5,569,690		78,081		5.61	%
Goodwill and core deposit intangibles		16,618							75,401
Other non-interest earning assets		324,435							433,038
Total Assets	$	5,270,902						$	6,078,129
Deposits:
Savings	$	451,122		390		0.35	%	$	552,094		1,284		0.94	%
NOW		1,159,531		1,812		0.63			941,964		1,898		0.81
Money market		412,065		674		0.66			617,013		2,427		1.58
Certificates of deposit		1,256,299		8,651		2.76			917,133		8,899		3.90
Total interest bearing deposits		3,279,017		11,527		1.41			3,028,204		14,508		1.93
Short-term borrowed funds		65,604		27		0.17			166,031		788		1.91
Advances from FHLB		625,254		5,082		3.26			1,389,835		12,433		3.60
Long-term debt		22,779		276		4.86			26,274		429		6.57
Total interest bearing liabilities		3,992,654		16,912		1.70			4,610,344		28,158		2.46
Demand deposits		810,031							878,906
Non-interest bearing other liabilities		62,835							45,770
Total Liabilities		4,865,520							5,535,020
Stockholder’s equity		405,382							543,109
Total liabilities and stockholder’s equity	$	5,270,902						$	6,078,129
Net interest income/ net interest spread				40,078		2.92	%				49,923		3.15	%
Margin
Interest income/interest earning assets						4.62	%						5.61	%
Interest expense/interest earning assets						1.38							2.03
Net interest margin						3.24	%						3.58	%

Bank Operations
Average Balance Sheet — Yield / Rate Analysis

	For the Six Months Ended
	June 30, 2009							June 30, 2008
	Average		Revenue/		Yield/			Average		Revenue/		Yield/
( in thousands)	Balance		Expense		Rate			Balance		Expense		Rate
Loans:
Residential real estate	$	1,868,808		48,415		5.18	%	$	2,124,470		58,121		5.47	%
Commercial real estate		1,223,010		24,236		3.96			1,249,615		36,522		5.85
Consumer		737,643		10,702		2.90			732,725		18,825		5.14
Commercial business		142,428		3,822		5.37			129,659		4,772		7.36
Small business		319,123		10,016		6.28			317,838		11,362		7.15
Total loans		4,291,012		97,191		4.53			4,554,307		129,602		5.69
Investments		818,790		22,208		5.42			1,065,268		31,837		5.98
Total interest earning assets		5,109,802		119,399		4.67	%		5,619,575		161,439		5.75	%
Goodwill and core deposit intangibles		21,269							75,560
Other non-interest earning assets		340,386							424,767
Total Assets	$	5,471,457						$	6,119,902
Deposits:
Savings	$	446,227		890		0.40	%	$	559,271		3,302		1.19	%
NOW		1,103,634		3,226		0.59			934,173		4,581		0.99
Money market		416,947		1,447		0.70			613,038		5,585		1.83
Certificates of deposit		1,278,057		18,951		2.99			954,605		19,633		4.14
Total deposits		3,244,865		24,514		1.52			3,061,087		33,101		2.17
Short-term borrowed funds		171,319		208		0.24			167,386		2,113		2.54
Advances from FHLB		763,398		12,246		3.23			1,406,790		27,379		3.91
Long-term debt		22,799		584		5.17			26,365		918		7.00
Total interest bearing liabilities		4,202,381		37,552		1.80			4,661,628		63,511		2.74
Demand deposits		793,098							866,834
Non-interest bearing other liabilities		62,184							47,298
Total Liabilities		5,057,663							5,575,760
Stockholder’s equity		413,794							544,142
Total liabilities and stockholder’s equity	$	5,471,457						$	6,119,902
Net interest income/net interest spread				81,847		2.87	%				97,928		3.01	%
Margin
Interest income/interest earning assets						4.67	%						5.75	%
Interest expense/interest earning assets						1.48							2.27
Net interest margin						3.19	%						3.48	%

Bank Operations Business Segment
Allowance for Loan Loss and Credit Quality

																For the Six
	For the Three Months Ended															Months Ended
(in thousands)	6/30/2009			3/31/2009			12/31/2008			9/30/2008			6/30/2008			6/30/2009			6/30/2008
Allowance for Loan Losses
Beginning balance	$	146,639			125,572			106,435			98,424			83,396			125,572			94,020
Charge-offs:
Residential real estate		(3,923	)		(4,588	)		(2,088	)		(1,077	)		(1,027	)		(8,511	)		(1,651	)
Commercial real estate		(10,530	)		(5,565	)		—			(4,965	)		(14,501	)		(16,095	)		(55,092	)
Commercial business		(516	)		—			—			—			—			(516	)		—
Consumer		(9,118	)		(10,321	)		(9,197	)		(7,684	)		(7,225	)		(19,439	)		(12,061	)
Small business		(2,347	)		(2,771	)		(1,755	)		(1,471	)		(464	)		(5,118	)		(1,660	)
Total charge-offs		(26,434	)		(23,245	)		(13,040	)		(15,197	)		(23,217	)		(49,679	)		(70,464	)
Recoveries:
Residential real estate		360			323			130			75			192			683			192
Commercial real estate		—			278			—			—			—			278			—
Commercial business		5			1			3			9			3			6			29
Consumer		130			95			163			63			130			225			218
Small business		166			95			111			137			119			261			180
Total recoveries		661			792			407			284			444			1,453			619
Net charge-offs		(25,773	)		(22,453	)		(12,633	)		(14,913	)		(22,773	)		(48,226	)		(69,845	)
Transfer specific reserves to Parent		—			—			—			—			—			—			(6,440	)
Provision for loan losses		35,955			43,520			31,770			22,924			37,801			79,475			80,689
Ending balance	$	156,821			146,639			125,572			106,435			98,424			156,821			98,424

	As of
	6/30/2009		3/31/2009		12/31/2008		9/30/2008		6/30/2008
Credit Quality
Nonaccrual loans
Commercial real estate	$	204,104		204,560		161,947		56,419		54,033
Consumer		11,821		7,984		6,763		5,867		4,495
Small business		8,916		7,383		4,644		3,911		1,165
Residential real estate		64,720		45,630		34,734		23,545		18,208
Commercial business		5,887		5,887		—		—		—
Total Nonaccrual loans		295,448		271,444		208,088		89,742		77,901
Nonaccrual tax certificates		3,091		1,298		1,441		2,317		2,309
Real estate owned		30,213		21,763		19,045		20,054		20,298
Other repossessed assets		23		—		—		—		—
Total nonperforming assets		328,775		294,505		228,574		112,113		100,508
Allowance for loan losses to total loans	%	3.79		3.41		2.87		2.40		2.21
Allowance to nonaccrual loans	%	53.08		54.02		60.35		118.60		126.34
Provision to average loans	%	3.40		4.00		2.89		2.06		3.38
Annualized net charge-offs to average loans	%	2.44		2.06		1.15		1.34		2.04
Nonperforming loans to total loans	%	7.13		6.32		4.75		2.02		1.75
Nonperforming assets to total loans and other assets	%	7.54		6.55		4.95		2.36		2.05

Bank Operations Business Segment
Delinquencies, Excluding Non-Accrual Loans, at Period-End (BankAtlantic):

		6/30/2009		3/31/2009		12/31/2008		9/30/2008		6/30/2008
Commercial real estate	%	0.72	*	2.39	*	1.34	*	0.41	*	0.42
Consumer	%	1.40		1.71		1.60		1.17		1.54
Small business	%	1.12		2.11		1.31		0.95		0.93
Residential real estate	%	1.39	**	1.46	**	1.04		0.79		0.47
Commercial business	%	—		0.13		—		—		—
Total BankAtlantic	%	1.13	*	1.77	*	1.20	*	0.73	*	0.65

*

Excludes $14.3 million, $15.7 million, $58.5 million and $26 million of Commercial Real Estate loans at June 30, 2009, March 31, 2009, December 31, 2008 and September 30, 2008, respectively, which had matured and had been approved for renewal or forbearance but were not fully documented at period end. Including these loans, Commercial Real Estate delinquencies were 1.90%, 3.68%, 6.12% and 2.52% and total BankAtlantic delinquencies would have been 1.50%, 2.14%, 2.54% and 1.31% at June 30, 2009, March 31, 2009, December 31, 2008 and September 30, 2008, respectively.

**

Includes $1.7 billion and $1.8 billion of purchased residential loans with delinquencies excluding non-accrual loans of 1.38% as of June 30, 2009 and March 31, 2009, respectively.

Bank Operations Business Segment
First Quarter Loan Provision & Allowance for Loan Losses:

			Allowance		% of Reserves
	2Q 2009		for Loan		to Total
($ in thousands)	Loan Provision		Losses		Loans
Commercial real estate	$	10,530		79,622		6.63	%
Consumer		8,988		42,382		5.98
Small business		1,953		9,229		2.93
Residential real estate		13,973		22,414		1.28
Commercial business		511		3,174		2.24
Total BankAtlantic	$	35,955		156,821		3.79	%

Parent Company Business Segment Activities
Condensed Statements of Operations — Unaudited

																For the Six
	For the Three Months Ended															Months Ended
(in thousands)	6/30/2009			3/31/2009			12/31/2008			9/30/2008			6/30/2008			6/30/2009			6/30/2008
Net interest expense	$	(3,807	)		(4,021	)		(5,343	)		(4,778	)		(4,324	)		(7,828	)		(9,698	)
Provision for loan losses		7,539			757			6,682			8,290			9,446			8,296			9,446
Net interest income after provision for loan losses		(11,346	)		(4,778	)		(12,025	)		(13,068	)		(13,770	)		(16,124	)		(19,144	)
Non-interest income
Income from unconsolidated subsidiaries		115			118			155			143			140			233			302
Securities activities, net		(1,375	)		120			(3,413	)		1,131			7,005			(1,255	)		1,926
Other		287			222			287			202			269			509			540
Non-interest income		(973	)		460			(2,971	)		1,476			7,414			(513	)		2,768
Non-interest expense
Employee compensation and benefits		950			728			(255	)		1,326			1,063			1,678			1,975
Advertising and business promotion		134			51			105			42			98			185			132
Professional fees		359			382			603			464			215			741			715
Other		416			543			2,905			210			290			959			519
Non-interest expense		1,859			1,704			3,358			2,042			1,666			3,563			3,341
Loss from parent company activities before income taxes		(14,178	)		(6,022	)		(18,354	)		(13,634	)		(8,022	)		(20,200	)		(19,717	)
Provision (benefit) for income taxes		—			—			12,969			(4,744	)		(2,718	)		—			(6,830	)
Net loss from parent company business segment	$	(14,178	)		(6,022	)		(31,323	)		(8,890	)		(5,304	)		(20,200	)		(12,887	)

Condensed Statements of Financial Condition — Unaudited

	As of
(in thousands)	6/30/2009		3/31/2009		12/31/2008		9/30/2008		6/30/2008
ASSETS
Cash	$	16,122		19,860		37,116		41,031		17,261
Securities		2,250		3,289		3,631		5,727		18,664
Investment in subsidiaries		439,090		472,272		484,723		634,266		638,679
Investment in unconsolidated subsidiaries		9,052		8,937		8,820		8,820		8,820
Other assets		3,019		2,353		7,943		9,482		21,006
Total assets	$	469,533		506,711		542,233		699,326		704,430
LIABILITIES AND STOCKHOLDERS’ EQUITY
Subordinated debentures and notes payable	$	301,353		297,519		294,195		294,195		294,195
Other liabilities		1,613		2,177		4,070		4,898		2,029
Total liabilities		302,966		299,696		298,265		299,093		296,224
Stockholders’ equity		166,567		207,015		243,968		400,233		408,206
Total liabilities and stockholders’ equity	$	469,533		506,711		542,233		699,326		704,430

Parent Company Business Segment
Allowance for Loan Loss and Credit Quality

Parent Company and Work-out Subsidiary

	For the Three Months Ended															For the Six Months Ended
(in thousands)	6/30/2009			3/31/2009			12/31/2008			9/30/2008			6/30/2008			6/30/2009			6/30/2008
Allowance for Loan Losses
Beginning balance	$	11,758			11,685			7,702			7,702			6,440			11,685			—
Charge-offs		(3,898	)		(684	)		(2,699	)		(8,290	)		(8,184	)		(4,582	)		(8,184	)
Specific reserves transfer from BankAtlantic		—			—			—			—			—			—			6,440
Provision for loan losses		7,539			757			6,682			8,290			9,446			8,296			9,446
Ending balance	$	15,399			11,758			11,685			7,702			7,702			15,399			7,702

	As of
	6/30/2009			3/31/2009			12/31/2008			9/30/2008			6/30/2008
Credit Quality
Nonaccrual loans	$	64,558			74,321			79,327			82,059			90,412
Specific reserves		(15,367	)		(11,758	)		(11,685	)		(7,702	)		(7,702	)
Nonaccrual loans, net	$	49,191			62,563			67,642			74,357			82,710
Real estate owned		4,082			—			—			—			—
Total nonperforming assets	$	53,273			62,563			67,642			74,357			82,710
Total Loans - gross	$	67,910			76,641			81,657			84,394			92,762

Consolidated BankAtlantic Bancorp and Subsidiaries
Nonperforming Assets and Credit Quality Statistics

		As of
(in thousands)		6/30/2009			3/31/2009			12/31/2008			9/30/2008			6/30/2008
Nonaccrual loans:
BankAtlantic		$	295,448			271,444			208,088			89,742			77,901
Parent-Work out Sub			64,558			74,321			79,327			82,059			90,412
Consolidated nonaccrual loans		$	360,006			345,765			287,415			171,801			168,313
Net Charge-offs:
BankAtlantic		$	(25,773	)		(22,453	)		(12,633	)		(14,913	)		(22,773	)
Parent-Work out Sub			(3,898	)		(684	)		(2,699	)		(8,290	)		(8,184	)
Consolidated charge-offs		$	(29,671	)		(23,137	)		(15,332	)		(23,203	)		(30,957	)
Loan Provision:
BankAtlantic		$	35,955			43,520			31,770			22,924			37,801
Parent-Work out Sub			7,539			757			6,682			8,290			9,446
Consolidated loan provision		$	43,494			44,277			38,452			31,214			47,247
Allowance for Loan Loss:
BankAtlantic		$	156,821			146,639			125,572			106,435			98,424
Parent-Work out Sub			15,399			11,758			11,685			7,702			7,702
Consolidated allowance for loan loss		$	172,220			158,397			137,257			114,137			106,126
Nonperforming Assets:
BankAtlantic		$	328,775			294,505			228,574			112,113			100,508
Parent-Work out Sub			68,640			74,321			79,327			82,059			90,412
Consolidated nonperforming assets		$	397,415			368,826			307,901			194,172			190,920
Consolidated Credit Quality Statistics
Allowance for loan losses to total loans	%		4.09			3.62			3.07			2.53			2.33
Allowance to nonaccrual loans	%		47.84			45.81			47.76			66.44			63.05
Provision to average loans	%		4.04			3.99			3.43			2.75			4.13
Nonperforming loans, gross to total loans	%		8.55			7.91			6.44			3.80			3.70
Nonperforming assets, gross to total loans and other assets	%		8.97			8.07			6.55			4.01			3.83