exv99w1

Exhibit 99.1

BankAtlantic Bancorp Reports Financial Results
For the Third Quarter, 2010

FORT LAUDERDALE, Florida — November 16, 2010 — BankAtlantic Bancorp, Inc. (NYSE: BBX) today reported a net loss from continuing operations of ($25.2) million, or ($0.42) per diluted share, for the quarter ended September 30, 2010, compared to a net loss from continuing operations of ($52.1) million, or ($3.43) per diluted share, for the quarter ended September 30, 2009.

BankAtlantic Bancorp’s Chairman and Chief Executive Officer, Alan B. Levan, commented, “The improvement in the financial results this quarter as compared to the same quarter of 2009 is due primarily to a reduced provision for loan losses, which declined over 60% in the third quarter of 2010 as compared to the same quarter a year ago. The lower provision for loan losses resulted primarily from lower charge-offs and a decline in additions to specific valuation allowances on Commercial Real Estate loans during the current quarter.”

Highlights of the BankAtlantic Operating Segment:

BankAtlantic’s Chief Executive Officer, Jarett S. Levan, commented, “As a community bank, we are mindful of the impact this recession has had on our customers, their families, and the businesses and communities we serve. We are proud to have provided our customers with financial solutions in these difficult times and to have met their banking needs. We plan to continue to work hard to meet our customer’s needs and continue to provide a high level of service which we believe contributed to BankAtlantic being ranked “Highest Customer Satisfaction with Retail Banking in Florida” by J.D. Power and Associates.”

BankAtlantic Performance:

Deposits and Borrowings— “Core ⁽¹⁾ and total deposits at September 30, 2010 were $2.8 billion and $3.8 billion, respectively, as compared to $2.5 billion and $4.0 billion, respectively, as of September 30, 2009. At September 30, 2010:


⁽¹⁾		Core deposits is a term that we use to refer to Demand, NOW and Savings accounts. A reconciliation of core deposits to total deposits is included in BankAtlantic Bancorp’s Third Quarter, 2010 Supplemental Financials available at www.BankAtlanticBancorp.com. To view the financial data, access the “Investor Relations” section and click on the “Quarterly Financials or Supplemental Financials” navigation links.

	•		“Non-certificate of deposit balances represented approximately 83.1% of total deposits;

	•		“The average cost of core deposits and total deposits for the third quarter of 2010 were 0.24% and 0.49%, respectively; and

	•		“Brokered deposit balances represented only 0.59% of assets and 0.69% of total deposits.

	•		“BankAtlantic continues to maintain a low level of borrowings, with total borrowings of $234.7 million, or 5.2% of total assets, at September 30, 2010. Total borrowings at September 30, 2009 were $416.6 million, or 8.5% of total assets.

	•		“BankAtlantic’s loan to deposit ratio was 83.9% at September 30, 2010, as compared to 96.2% at September 30, 2009.

Results of Operations — “BankAtlantic’s net loss was ($17.7) million for the third quarter of 2010, compared to a net loss of ($39.9) million for the second quarter of 2010, and a net loss of ($35.3) million for the third quarter of 2009. Pretax core operating earnings ⁽²⁾ for the third quarter of 2010 were $13.9 million, compared to $9.1 million for the second quarter of 2010, and $24.0 million for the third quarter of 2009. The decline in the third quarter 2010 core earnings from the 2009 comparative quarter was largely due to: lower net interest income primarily related to lower asset balances combined with an increase in lower-yielding excess cash balances and nonperforming assets; lower non-interest income resulting from lower securities gains and reduced non-sufficient funds income due to changes in customer behavior; and an increase in core non-interest expenses due mostly to professional fees relating primarily to higher legal fees. Loan loss and tax certificate provisions, debt redemption costs, loss on real estate sold and impairment, restructuring and exit activity expenses, which are not included in pre-tax core operating earnings, were ($31.6) million for the third quarter of 2010, ($48.9) million for the second quarter of 2010 and ($59.3) million for the third quarter of 2009.


⁽²⁾		Pre-tax core operating earnings is a non-GAAP measure that we use to refer to pre-tax earnings before provision for loan losses, tax certificate provisions, debt redemption costs, FDIC special assessments and impairment, gains/losses on sales of real estate, restructuring and exit activities. A reconciliation of loss from bank operations before income taxes to pre-tax core operating earnings is included in BankAtlantic Bancorp’s Third Quarter, 2010 Supplemental Financials available at www.BankAtlanticBancorp.com. To view the financial data, access the “Investor Relations” section and click on the “Quarterly Financials or Supplemental Financials” navigation links.

Net Interest Margin— “Net interest income for the third quarter of 2010 was $39.1 million compared to $41.5 million for the third quarter of 2009, with improvements in net interest margin offset by decreases in earning assets, increases in lower-yielding investments and net increases in nonperforming assets.

	•		“Net interest margin during the third quarter of 2010 was 3.70%, a 16 basis point improvement from 3.54% during the third quarter of 2009.

	•		“Net interest spread during the third quarter of 2010 was 3.54%, a 26 basis point improvement from 3.28% during the third quarter of 2009.

	•		“Average balance sheet activity during the third quarter of 2010 impacting net interest income included:

	•		“Average earning assets declined by $448 million since September 30, 2009.

	•		“Average invested excess cash of $190.8 million during the third quarter of 2010 earned an average yield of 25 basis points. This compares to $41.5 million in average invested cash during the third quarter of 2009 earning an average yield of approximately 25 basis points.

	•		“Average nonperforming assets of $434.6 million at September 30, 2010, an increase of $100.5 million from the third quarter of 2009.

Non-interest income — “Total non-interest income for the third quarter of 2010 was $27.0 million, down from $35.5 million for the third quarter of 2009. These amounts include a net loss on securities activities of ($0.5) million in the 2010 third quarter and a net gain on securities activities of $4.8 million in the 2009 third quarter. Additionally, these amounts reflect $4.6 million in lower deposit service charges in the 2010 quarter due to declines in customer non-sufficient funds activity, versus the comparable quarter of 2009.

Non-interest expense — “Total non-interest expenses were $60.8 million in the third quarter of 2010 compared to $60.0 million in the third quarter of 2009.

“Core expenses⁽³⁾ were $52.2 million in the third quarter of 2010, slightly lower than core expenses of $53.0 million in the third quarter of 2009, reflecting a $1.4 million decrease in employee compensation and benefits and a $1.3 million decrease in occupancy and equipment. These expense reductions were partially offset by a $2.2 million increase in professional fees primarily related to legal costs.


⁽³⁾		Core expense is a non-GAAP measure that we use to refer to total non-interest expenses excluding tax certificate provisions, debt redemption costs, gains/losses on sales of real estate, impairments, restructuring and exit activities. A reconciliation of total expense to core expense is included in BankAtlantic Bancorp’s Third Quarter, 2010 Supplemental Financials available at www.BankAtlanticBancorp.com. To view the financial data, access the “Investor Relations” section and click on the “Quarterly Financials or Supplemental Financials” navigation links.

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

•

“Impairment, restructuring and exit charges were $8.1 million in the third quarter of 2010, versus $1.7 million in the third quarter of 2009. The charges in the third quarter of 2010 included:

	•		A $4.5 million write-down to fair value of fixed assets related to the Tampa store network associated with the previous announcement in the third quarter of our intention to explore the sale of our Tampa area operations.

	•		A $2.1 million severance charge related to a reduction in force during the third quarter of 2010. The anticipated annual expense reduction in compensation and benefits is estimated between $8 million and $10 million.

	•		Charges totaling $1.1 million related to write-downs of lease contracts associated with stores held-for-sale.

	•		Charges totaling $0.4 million related to write-downs of real estate owned.

	•		“Tax certificate provision of $0.9 million in the third quarter of 2010, versus a recovery of ($0.2) million in the third quarter of 2009, primarily associated with increased provisions relating to tax certificates held in certain out-of-state markets.

	•		“Gain on sale of real estate of $0.4 million in the third quarter of 2010, versus a $0.1 million loss in the third quarter of 2009.

	•		“Costs associated with debt redemption of $0 for the third quarter of 2010, versus $5.4 million in the third quarter of 2009. These costs were associated with the prepayment of certain borrowings as part of our balance sheet de-leveraging efforts during 2009.

Credit:

	•		“BankAtlantic’s allowance for loan losses was $181.8 million at September 30, 2010. The allowance coverage to total loans increased to 5.34% at September 30, 2010 compared to 5.09% at June 30, 2010, and 4.18% at September 30, 2009.

	•		“The provision for loan losses in the third quarter of 2010 was $23.0 million compared to $43.6 million in the second quarter of 2010 and $52.2 million in the third quarter of 2009.

•

“The provision for loan losses in the third quarter of 2010 by loan portfolios is as follows: Commercial Real Estate- $7.8 million provision; Consumer- $7.0 million provision; Small Business- $4.0 million provision; Residential Real Estate- $3.6 million provision; and Commercial Business- $0.7 million provision.

	•		“Net charge-offs were $21.9 million in the third quarter of 2010, down from $32.5 million in the second quarter of 2010 and $43.1 million in the third quarter of 2009. Third quarter 2010 net charge-offs reflected lower net charge-offs from both comparative quarters in all loan categories with the exception of Small Business where the charge-offs were slightly higher.

	•		“Total non-accrual loans were $404.1 million at September 30, 2010, reflecting an increase of $42.0 million, or 11.6%, from $362.1 million at June 30, 2010, and an increase of $109.2 million, or 37.0%, from $294.9 million at September 30, 2009. The increase in non-accrual loans during the third quarter of 2010 as compared to the second quarter of 2010 was largely due to new non-accrual Commercial Real Estate loans determined to be collateral dependent, approximately $59.0 million of which of continued to be current and paying under the terms of their loan agreements.

	•		“Total nonperforming assets were $464.9 million at September 30, 2010, as compared to $410.5 million at June 30, 2010, and $328.7 million from September 30, 2009. The increase in the third quarter of 2010 reflects the net increases to non-accrual loans discussed above as well as migration of certain non-accrual loans to real estate owned in the quarter.

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

Commercial Real Estate Loans — “Our Commercial Real Estate portfolio was $999 million at September 30, 2010, representing 29.5% of the total loan portfolio.

	•		“Net charge-offs in the third quarter of 2010 were $6.0 million, down from $14.1 million in the second quarter of 2010 and $21.5 million in the third quarter of 2009.

	•		“Delinquencies, excluding non-accrual loans and loans in the process of renewal, increased to $14.3 million, or 1.4% of total loans, at September 30, 2010, compared to $7.5 million, or 0.7% of total loans, at June 30, 2010, and $12.5 million, or 1.1% of total loans, at September 30, 2009.

	•		“Commercial Real Estate non-accrual loans at September 30, 2010 were $275.1 million, reflecting a net increase of $45.1 million from June 30, 2010, and an increase of $85.3 million from September 30, 2009. Of the $275.1 million of Commercial Real Estate non-accrual loans at September 30, 2010, approximately $82.4 million were current and paying under terms of their loan agreements at September 30, 2010.

	•		“The allowance coverage for Commercial Real Estate loans was 10.04% of the related portfolio at September 30, 2010, compared to 9.42% of the related portfolio at June 30, 2010 and 7.56% at September 30, 2009.

At September 30, 2010, BankAtlantic’s Commercial Real Estate loan portfolio included the following:

•

“Commercial residential land acquisition, development and construction loans consisting of:

	•		Builder land bank loans: Five loans aggregating $16.0 million, all of which were on non-accrual at September 30, 2010. Charge-offs of $39.9 million have been taken on these non-accrual loans, and $4.5 million in specific reserves are currently maintained related to these loans.

	•		Land acquisition and development loans: 22 loans aggregating $136.0 million, including 11 loans aggregating $64.8 million on non-accrual at September 30, 2010. Charge-offs of $19.8 million have been taken on these non-accrual loans, and $16.7 million in specific reserves are currently maintained related to these loans.

	•		Land acquisition, development and construction loans: 4 loans aggregating $4.9 million, with no loans on non-accrual at September 30, 2010. Specific reserves of $0.6 million are currently maintained related to these loans.

•

“Commercial land loans: 28 loans aggregating $87.5 million, including 8 loans aggregating $52.1 million on non-accrual at September 30, 2010. Charge-offs of $16.9 million have been taken on these non-accrual loans, and $8.2 million in specific reserves are currently maintained related to these loans.

•

“All other Commercial Real Estate loans: Consists of $755 million, including 33 loans aggregating $142.2 million on non-accrual at September 30, 2010. Charge-offs of $15.6 million have been taken on these non-accrual loans, and $46.9 million in specific reserves are currently maintained related to these loans.

Residential Real Estate Loans— “Our Residential Real Estate loan portfolio was $1.3 billion at September 30, 2010, representing 38.7% of the Bank’s total loans. The purchased residential loan portfolio (representing 93.1% of the total residential loan portfolio) consists of approximately 4,560 first mortgage loans secured by properties throughout the United States.

	•		“Net charge-offs for the third quarter of 2010 were $4.2 million, compared to net charge-offs of $4.8 million in the second quarter of 2010, and $7.0 million in the third quarter of 2009.

	•		“Delinquencies, excluding non-accrual loans, at September 30, 2010 were $17.9 million (down slightly from the June 30, 2010 level of $18.5 million, and a 28% decline from the September 30, 2009 level of $24.9 million), representing 1.37% of the portfolio at September 30, 2010, compared to 1.32% of the portfolio at June 30, 2010, and 1.52% of the portfolio at September 30, 2009.

	•		“Residential non-accrual loans at September 30, 2010 were $87.6 million, up from $83.9 million at June 30, 2010 and up from $76.0 million at September 30, 2009.

	•		“The allowance coverage for Residential Real Estate loans was 1.68% at September 30, 2010 compared to 1.62% at June 30, 2010, and 1.45% at September 30, 2009.

Consumer Loans — “Our Consumer Loan portfolio had an outstanding balance of $632.2 million at September 30, 2010. Home equity loans represent 97% of the Consumer Loan portfolio. All of our home equity loans were originated by us in our local markets with central underwriting. BankAtlantic does not have a credit card portfolio.

	•		“Net charge-offs in the third quarter of 2010 were $9.6 million, down from $11.6 million in the second quarter of 2010, and $12.3 million in the third quarter of 2009.

	•		“Delinquencies, excluding non-accrual loans, decreased to $12.0 million, or 1.90% of the portfolio, at September 30, 2010; compared to $13.2 million, or 2.04% of the portfolio, at June 30, 2010; and compared to $13.7 million, or 1.97% of the portfolio, at September 30, 2009.

	•		“Consumer non-accrual loans at September 30, 2010 were $13.3 million, down slightly from $13.8 million at June 30, 2010, and up from $11.3 million at September 30, 2009.

	•		“The allowance coverage for Consumer loans at September 30, 2010 was 6.08% of the portfolio, compared to 6.37% at June 30, 2010, and 6.02% of the portfolio at September 30, 2009.”

Capital

“At September 30, 2010, BankAtlantic’s capital ratios were:

	•		Total risk-based capital of 12.59%.

	•		Tier 1 risk-based capital of 10.59%.

	•		Core capital of 7.17%.

“In addition, as indicated below, BankAtlantic’s capital ratios have been stable over the last four years.

Capital Ratios (BankAtlantic) as of:


	12/2006			12/2007			12/2008			12/2009			6/2010
Core		7.55	%		6.94	%		6.80	%		7.58	%		7.36	%
Tier 1 Risk-Based		10.50	%		9.85	%		9.80	%		10.63	%		10.87	%
Total Risk-Based		12.08	%		11.63	%		11.63	%		12.56	%		12.86	%

BankAtlantic Bancorp (Parent Company level):

Alan B. Levan further commented, “BankAtlantic Bancorp’s net loss at the parent only level was ($7.5) million for the third quarter of 2010, compared to a net loss of ($16.8) million for the third quarter of 2009. The net loss in the third quarter of 2010 included a net provision for loan losses of $1.4 million compared to $11.3 million in the third quarter of 2009.

“As announced in the first quarter of 2009, we continue to defer the regularly scheduled interest payments on the outstanding junior subordinated debentures relating to all of our TruPS, which is permitted under the terms of the securities for up to another 13 consecutive quarterly periods.

“During the third quarter of 2010, BankAtlantic Bancorp announced the previous completion of its rights offering in July 2010, with approximately $20.0 million of proceeds received in connection with the exercise by its shareholders of rights to purchase Class A Common Stock. These proceeds were used to support second quarter 2010 capital contributions of $20 million to BankAtlantic.

Asset Workout Subsidiary — “During the first quarter of 2008, BankAtlantic 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 has no impact on BankAtlantic’s operations or capital, but is included in BankAtlantic Bancorp’s consolidated results. These assets, as with all other assets and liabilities of BankAtlantic Bancorp, should not be combined with those of BankAtlantic when evaluating and comparing metrics for BankAtlantic as the insured financial institution.

“The loans and real estate owned held by the workout subsidiary totaled $32.6 million with specific loan reserves of $4.2 million at September 30, 2010.

“The composition of the non-accrual loans held by the Company’s asset workout subsidiary at September 30, 2010 was as follows:

	•		“Builder land bank loans: One loan totaling $3.9 million for which $16.0 million in charge-offs have been taken.

	•		“Land acquisition and development loans: Three loans aggregating $4.6 million. Charge-offs of $7.2 million have been taken on these non-accrual loans, and $0.9 million in specific reserves are currently maintained related to these loans.

	•		“Land acquisition, development and construction loans: Five loans aggregating $5.9 million. Charge-offs of $10.3 million have been taken on these non-accrual loans, and $2.9 million in specific reserves are currently maintained related to these loans.

	•		“Commercial business loans: One loan totaling $5.5 million, with $0.4 million in specific reserves currently maintained related to this loan. No prior charge-offs have been recorded with respect to this loan.”

- — -

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 or Supplemental Financials” navigation links. 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 third quarter 2010 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.

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 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 and offers extended weekday hours, holiday hours, Free Online Banking & Bill Pay, a 7-Day Customer Service Center, Change Exchange coin counters, as well as retail and business checking accounts.

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 and Media 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

# # #

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, continued decreases in real estate values, and increased unemployment or sustained high unemployment rates on our business generally, our regulatory capital ratios, the ability of our borrowers to service their obligations and of our customers to maintain account balances and the value of collateral securing our loans; 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, Residential loans and Consumer loans, and conditions specifically in those market sectors; the quality of our Commercial business loans and conditions specifically in that market sector; the risks of additional charge-offs, impairments and required increases in our allowance for loan losses especially if the economy and real estate markets in Florida do not improve; the impact of additional regulation and litigation regarding overdraft fees; additional regulatory requirements or restrictions on our activities which impact our business and prospects; the uncertain impact of legal proceedings on our financial condition or operations, 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; we may not be able to sell our Tampa operations on acceptable terms or at all; our expense reduction initiatives may not be successful and additional cost savings may not be achieved; we may raise additional capital and such capital may be highly dilutive to BankAtlantic Bancorp’s shareholders or may not be available; and the risks associated with the impact of periodic valuation testing of goodwill, deferred tax assets and other assets. Past performance and perceived trends may not indicate 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, 2009. The Company cautions that the foregoing factors are not exclusive. Furthermore, BankAtlantic received the highest numerical score among retail banks in Florida in the proprietary J.D. Power and Associates 2010 Retail Banking Satisfaction Study^SM. Study based on 47,673 total responses measuring 9 providers in Florida and measures opinions of consumers with their primary banking provider. Proprietary study results are based on experiences and perceptions of consumers surveyed in January 2010. Your experiences may vary. Visit jdpower.com.

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


																	For the Nine
		For the Three Months Ended															Months Ended
		9/30/2010			6/30/2010			3/31/2010			12/31/2009			9/30/2009			9/30/2010			9/30/2009
Earnings (in thousands):
Net loss from continuing operations		$	(25,184	)		(51,250	)		(20,521	)		(52,464	)		(52,089	)		(96,955	)		(137,056	)
Net loss		$	(25,184	)		(51,250	)		(20,521	)		(52,464	)		(52,589	)		(96,955	)		(133,355	)
Net loss attributable to BankAtlantic Bancorp		$	(25,409	)		(51,489	)		(20,729	)		(52,464	)		(52,589	)		(97,627	)		(133,355	)
Pre-tax core operating earnings — Non-GAAP	(note 1)	$	7,871			3,927			11,103			5,379			18,530			22,901			41,434

Average Common Shares Outstanding (in thousands):
Basic			60,784			50,679			49,335			49,335			15,174			53,565			15,171
Diluted			60,784			50,679			49,335			49,335			15,174			53,565			15,171

Key Performance Ratios
Diluted loss per share from continuing operations	(note 2)	$	(0.42	)		(1.02	)		(0.42	)		(1.06	)		(3.43	)		(1.82	)		(9.03	)
Diluted loss per share	(note 2)	$	(0.42	)		(1.02	)		(0.42	)		(1.06	)		(3.47	)		(1.82	)		(8.79	)

Return on average tangible assets from continuing operations	(note 3)	%	(2.22	)		(4.46	)		(1.74	)		(4.30	)		(4.14	)		(2.80	)		(3.40	)
Return on average tangible equity from continuing operations	(note 3)	%	(138.75	)		(193.89	)		(64.56	)		(110.64	)		(132.56	)		(127.22	)		(95.16	)

Average Balance Sheet Data (in millions):
Assets		$	4,548			4,616			4,744			4,894			5,046			4,635			5,388
Tangible assets — Non-GAAP	(note 3)	$	4,533			4,600			4,728			4,878			5,030			4,620			5,368
Loans, gross		$	3,513			3,627			3,799			3,991			4,134			3,645			4,289
Investments		$	748			648			604			610			617			667			764
Deposits and escrows		$	3,931			4,080			4,013			3,988			4,046			4,008			4,041
Equity		$	85			118			142			201			166			115			206
Tangible equity — Non-GAAP	(note 3)	$	73			106			127			190			157			102			192

Period End ($ in thousands)
Total loans, net		$	3,239,542			3,387,725			3,515,542			3,694,326			3,845,837
Total assets		$	4,527,736			4,655,600			4,748,201			4,815,617			4,941,189
Total equity		$	64,082			77,466			119,611			141,571			189,442
Class A common shares outstanding			61,595,321			52,946,126			48,245,042			48,245,042			48,245,042
Class B common shares outstanding			975,225			975,225			975,225			975,225			975,225
Book value per share		$	1.02			1.44			2.43			2.88			3.85
Tangible book value per share — Non-GAAP	(note 4)	$	0.84			1.20			2.20			2.59			3.64
High stock price for the quarter		$	1.85			3.28			3.24			2.96			6.68
Low stock price for the quarter		$	0.75			1.35			1.14			1.20			2.60
Closing stock price		$	0.80			1.40			1.77			1.30			2.90


Notes:

(1)		Pre-tax core operating earnings excludes provision for loan losses, cost associated with debt redemption, provision for tax certificates, FDIC special assessment, gains/losses on sales of real estate and impairments, restructuring and exit activities. Pre-tax core operating earnings is a non-GAAP measure. See page 7 for a reconciliation of non-GAAP measures to GAAP financial measures.

(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 equity less average goodwill, core deposit intangibles and other comprehensive income. Average tangible assets and average tangible equity are non-GAAP measures. See page 7 for a reconciliation of non-GAAP measures to GAAP financial measures.

(4)		Tangible book value per share is defined as equity less goodwill and core deposit intangibles divided by the number of common shares outstanding. Tangible book value per share is a non-GAAP measure. See page 7 for a reconciliation of non-GAAP measures to GAAP financial measures.

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


	September 30,			December 31,
(in thousands)	2010			2009
ASSETS
Cash and due from depository institutions	$	103,919			108,946
Interest bearing deposits at federal reserve and other banks		233,706			125,851
Securities available for sale and derivatives (at fair value)		446,694			320,327
Investment securities (approximate fair value: $1,500 and $1,500)		1,500			1,500
Tax certificates, net of allowance of $8,452 and $6,781		104,681			110,991
Loans receivable, net of allowance for loan losses of $185,947 and $187,218		3,239,542			3,694,326
Federal Home Loan Bank stock, at cost which approximates fair value		45,259			48,751
Real estate held for development and sale		6,533			13,694
Real estate owned		67,783			46,477
Office properties and equipment, net		154,427			201,686
Goodwill and other intangible assets		14,877			15,817
Assets held for sale		37,209			—
Other assets		71,606			127,251

Total assets	$	4,527,736			4,815,617

LIABILITIES AND EQUITY
Liabilities:
Deposits
Demand	$	809,830			827,580
Savings		411,612			412,360
NOW		1,288,792			1,409,138
Money market		386,091			360,043
Certificates of deposit		601,956			960,559
Deposits held for sale		339,360			—

Total deposits		3,837,641			3,969,680
Advances from FHLB		180,000			282,012
Securities sold under agreements to repurchase		19,138			24,468
Federal funds purchased and other short term borrowings		1,810			2,803
Subordinated debentures and bonds payable		22,000			22,697
Junior subordinated debentures		318,802			308,334
Liabilities held for sale		100			—
Other liabilities		84,163			64,052

Total liabilities		4,463,654			4,674,046

Equity:
Common stock		626			493
Additional paid-in capital		317,304			296,438
Accumulated deficit		(251,061	)		(153,434	)
Accumulated other comprehensive loss		(3,207	)		(1,926	)

Total BankAtlantic Bancorp stockholders’ equity		63,662			141,571
Noncontrolling interests		420			—

Total equity		64,082			141,571

Total liabilities and equity	$	4,527,736			4,815,617

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


																For the Nine
	For the Three Months Ended															Months Ended
(in thousands)	9/30/2010			6/30/2010			3/31/2010			12/31/2009			9/30/2009			9/30/2010			9/30/2009
INTEREST INCOME:
Interest and fees on loans	$	38,356			39,898			41,634			43,056			45,028			119,888			142,453
Interest on securities available for sale		2,847			2,714			3,645			3,889			4,766			9,206			19,653
Interest on tax certificates		2,837			514			2,356			2,975			3,793			5,707			11,047
Interest and dividends on investments		367			223			153			136			161			743			384

Total interest income		44,407			43,349			47,788			50,056			53,748			135,544			173,537

INTEREST EXPENSE:
Interest on deposits		4,877			6,021			7,057			7,950			9,420			17,955			33,934
Interest on advances from FHLB		106			1			958			1,783			2,494			1,065			14,740
Interest on short-term borrowed funds		8			7			8			9			9			23			200
Interest on long-term debt		4,107			3,891			3,791			3,824			3,973			11,789			12,791

Total interest expense		9,098			9,920			11,814			13,566			15,896			30,832			61,665

NET INTEREST INCOME		35,309			33,429			35,974			36,490			37,852			104,712			111,872
Provision for loan losses		24,410			48,553			30,755			81,301			63,586			103,718			151,357

NET INTEREST INCOME AFTER PROVISION		10,899			(15,124	)		5,219			(44,811	)		(25,734	)		994			(39,485	)

NON-INTEREST INCOME:
Service charges on deposits		15,214			15,502			15,048			17,940			19,767			45,764			57,799
Other service charges and fees		7,495			7,739			7,378			7,103			7,355			22,612			22,439
Securities activities, net		(552	)		312			3,138			1,273			4,774			2,898			9,907
Other		5,204			2,970			2,900			3,267			3,711			11,074			10,093

Total non-interest income		27,361			26,523			28,464			29,583			35,607			82,348			100,238

NON-INTEREST EXPENSE:
Employee compensation and benefits		23,549			25,155			25,378			28,628			24,876			74,082			79,617
Occupancy and equipment		13,263			13,745			13,582			14,270			14,553			40,590			44,306
Advertising and business promotion		2,026			2,239			1,944			2,286			1,549			6,209			6,360
Professional fees		6,209			4,824			2,887			5,138			3,470			13,920			9,491
Check losses		763			521			432			1,207			1,146			1,716			2,981
Supplies and postage		983			921			998			1,135			1,035			2,902			3,038
Telecommunication		702			662			534			844			353			1,898			1,637
Cost associated with debt redemption		—			53			7			—			5,431			60			7,463
Provision for tax certificates		885			2,134			733			686			(198	)		3,752			2,702
(Gain) loss on sale of real estate		(442	)		1,490			(104	)		(122	)		67			944			(220	)
Impairment, restructuring and exit activities		8,165			2,947			143			7,700			1,730			11,255			14,757
FDIC special assessment		—			—			—			—			—			—			2,428
Other		7,304			7,958			7,580			7,186			7,947			22,842			23,246

Total non-interest expense		63,407			62,649			54,114			68,958			61,959			180,170			197,806

Loss from continuing operations before income taxes		(25,147	)		(51,250	)		(20,431	)		(84,186	)		(52,086	)		(96,828	)		(137,053	)
Provision (benefit) for income taxes		37			—			90			(31,722	)		3			127			3

Loss from continuing operations		(25,184	)		(51,250	)		(20,521	)		(52,464	)		(52,089	)		(96,955	)		(137,056	)
Discontinued operations		—			—			—			—			(500	)		—			3,701

Net loss		(25,184	)		(51,250	)		(20,521	)		(52,464	)		(52,589	)		(96,955	)		(133,355	)
Less: net income attributable to noncontrolling interest		(225	)		(239	)		(208	)		—			—			(672	)		—

Net loss attributable to BankAtlantic Bancorp	$	(25,409	)		(51,489	)		(20,729	)		(52,464	)		(52,589	)		(97,627	)		(133,355	)

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


	For the Three Months Ended
(in thousands except percentages and per share data)	9/30/2010			6/30/2010			3/31/2010			12/31/2009			9/30/2009
Loans:
Residential real estate	$	1,356,748			1,433,322			1,513,302			1,600,027			1,698,715
Commercial real estate		1,061,918			1,079,760			1,148,435			1,228,250			1,262,163
Consumer		653,631			670,173			688,173			700,254			717,473
Commercial business		133,841			135,689			139,843			150,467			140,621
Small business		306,927			308,254			309,549			312,485			314,672

Total Loans		3,513,065			3,627,198			3,799,302			3,991,483			4,133,644
Investments		748,299			648,462			603,874			609,946			616,665

Total interest earning assets		4,261,364			4,275,660			4,403,176			4,601,429			4,750,309
Goodwill and core deposit intangibles		15,028			15,353			15,652			15,973			16,297
Other non-interest earning assets		271,950			324,727			324,910			276,438			279,588

Total assets	$	4,548,342			4,615,740			4,743,738			4,893,840			5,046,194

Tangible assets — Non-GAAP (note 3)	$	4,533,314			4,600,387			4,728,086			4,877,867			5,029,897


Deposits:
Demand deposits	$	907,294			916,131			864,413			844,052			808,817
Savings		444,981			445,686			425,235			421,032			431,516
NOW		1,484,558			1,525,475			1,467,103			1,312,073			1,237,459
Money market		404,406			386,712			360,470			372,081			392,344
Certificates of deposit		689,664			805,656			896,074			1,038,920			1,175,821

Total deposits		3,930,903			4,079,660			4,013,295			3,988,158			4,045,957
Short-term borrowed funds		26,187			25,528			26,332			30,812			31,905
FHLB advances		106,685			1,264			173,011			282,015			410,628
Long-term debt		340,230			334,507			331,403			328,222			324,729

Total borrowings		473,102			361,299			530,746			641,049			767,262
Other liabilities		59,207			57,152			57,755			63,979			66,855

Total liabilities		4,463,212			4,498,111			4,601,796			4,693,186			4,880,074

Equity		85,130			117,629			141,942			200,654			166,120

Total liabilities and equity	$	4,548,342			4,615,740			4,743,738			4,893,840			5,046,194

Other comprehensive loss in equity		(2,499	)		(3,454	)		(846	)		(4,999	)		(7,356	)

Tangible equity — Non-GAAP (note 3)	$	72,601			105,730			127,136			189,680			157,179


Net Interest Margin		3.32	%		3.13	%		3.33	%		3.26	%		3.23	%

Consolidated BankAtlantic Bancorp, Inc. and Subsidiaries
Nonperforming Assets and Credit Quality Statistics


	As of
(in thousands)	9/30/2010			6/30/2010			3/31/2010			12/31/2009			9/30/2009
Nonaccrual loans:
BankAtlantic	$	404,087			362,126			301,365			286,120			294,865
Parent- Work out Sub		19,916			24,358			35,326			44,897			53,520

Consolidated nonaccrual loans	$	424,003			386,484			336,691			331,017			348,385


Net Charge-offs:
BankAtlantic	$	(21,887	)		(32,547	)		(36,074	)		(74,910	)		(43,092	)
Parent- Work out Sub		(4,438	)		(5,741	)		(4,302	)		(3,836	)		(8,051	)

Consolidated charge-offs	$	(26,325	)		(38,288	)		(40,376	)		(78,746	)		(51,143	)


Loan Provision:
BankAtlantic	$	23,012			43,634			32,034			82,523			52,246
Parent- Work out Sub		1,398			4,919			(1,279	)		(1,222	)		11,340

Consolidated loan provision	$	24,410			48,553			30,755			81,301			63,586


Allowance for Loan Loss:
BankAtlantic	$	181,760			180,635			169,548			173,588			165,975
Parent- Work out Sub		4,187			7,227			8,049			13,630			18,688

Consolidated allowance for loan loss	$	185,947			187,862			177,597			187,218			184,663


Nonperforming Assets:
BankAtlantic	$	464,865			410,542			343,693			324,226			328,685
Parent- Work out Sub		29,682			34,190			45,858			55,429			59,787

Consolidated nonperforming assets	$	494,547			444,732			389,551			379,655			388,472


Consolidated Credit Quality Statistics
Allowance for loan losses to total loans	%	5.43			5.25			4.81			4.82			4.58
Allowance to nonaccrual loans	%	43.86			48.61			52.75			56.56			53.01
Provision to average loans	%	2.78			5.35			3.24			8.15			6.15
Nonperforming loans, gross to total assets	%	9.36			8.30			7.09			6.87			7.05
Nonperforming assets, gross to total assets	%	10.92			9.55			8.20			7.88			7.86

BankAtlantic Bancorp, Inc. and Subsidiaries
Reconciliation of GAAP Financial Measures to Non-GAAP Measures

Management uses non-GAAP financial measures to supplement its GAAP financial information and to provide additional useful measures in the evaluation of the Company’s operating results and any related trends that may be affecting the Company’s business. Management uses pre-tax core operating earnings to measure the Company’s ongoing financial performance excluding items that are not currently controllable by management. Management uses book value per share and tangible book value per share to enable investors to compare these measures to the quoted market price of the Company’s Class A common stock and to other companies in the industry. The return on average tangible equity and average tangible assets is used by management to measure the Company’s effectiveness in its use of capital and assets, respectively, and to allow for comparison to other companies in the industry. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies.


Reconciliation of loss from continuing operations before income taxes to pre-tax core operating earnings
																For the Nine
	For the Three Months Ended															Months Ended
(in thousands)	9/30/2010			6/30/2010			3/31/2010			12/31/2009			9/30/2010			9/30/2010			9/30/2009

Loss from continuing operations before income taxes	$	(25,147	)		(51,250	)		(20,431	)		(84,186	)		(52,086	)		(96,828	)		(137,053	)
Costs associated with debt redemption		—			53			7			—			5,431			60			7,463
Provision for tax certificates		885			2,134			733			686			(198	)		3,752			2,702
Loss (gain) on sale of real estate		(442	)		1,490			(104	)		(122	)		67			944			(220	)
Impairment, restructuring and exit activities		8,165			2,947			143			7,700			1,730			11,255			14,757
FDIC special assessment		—			—			—			—			—			—			2,428
Provision for loan losses		24,410			48,553			30,755			81,301			63,586			103,718			151,357

Non-GAAP pre-tax core operating earnings	$	7,871			3,927			11,103			5,379			18,530			22,901			41,434


Reconciliation of equity to tangible book value per share
	For the Three Months Ended
(in thousands)	9/30/2010			6/30/2010			3/31/2010			12/31/2009			9/30/2009

Equity	$	64,082			77,466			119,611			141,571			189,442
Goodwill and core deposit intangibles		(14,877	)		(15,186	)		(15,494	)		(15,817	)		(16,139	)
Other comprehensive loss		3,207			2,320			4,141			1,926			5,836

Tangible book value	$	52,412			64,600			108,258			127,680			179,139
Common shares outstanding, period end		62,570,546			53,921,351			49,220,267			49,220,267			49,220,267
Book value per share	$	1.02			1.44			2.43			2.88			3.85

Tangible book value per share — Non-GAAP	$	0.84			1.20			2.20			2.59			3.64


Reconciliation of return on average assets and average equity to return on average tangible assets and average tangible equity
																For the Nine
	For the Three Months Ended															Months Ended
(in thousands)	9/30/2010			6/30/2010			3/31/2010			12/31/2009			9/30/2009			9/30/2010			9/30/2009

Net loss from continuing operations	$	(25,184	)		(51,250	)		(20,521	)		(52,464	)		(52,089	)		(96,955	)		(137,056	)

Average total assets		4,548,342			4,615,740			4,743,738			4,893,840			5,046,194			4,635,217			5,387,892
Average goodwill and core deposit intangibles		(15,028	)		(15,353	)		(15,652	)		(15,973	)		(16,297	)		(15,342	)		(19,593	)

Average tangible assets		4,533,314			4,600,387			4,728,086			4,877,867			5,029,897			4,619,875			5,368,299

Average equity		85,130			117,629			141,942			200,654			166,120			114,685			206,483
Average goodwill and core deposit intangibles		(15,028	)		(15,353	)		(15,652	)		(15,973	)		(16,297	)		(15,342	)		(19,593	)
Other comprehensive loss		2,499			3,454			846			4,999			7,356			2,272			5,151

Average tangible equity	$	72,601			105,730			127,136			189,680			157,179			101,615			192,041
Return on average assets from continuing operations		-2.21	%		-4.44	%		-1.73	%		-4.29	%		-4.13	%		-2.79	%		-3.39	%

Return on average tangible assets from continuing operations — Non-GAAP		-2.22	%		-4.46	%		-1.74	%		-4.30	%		-4.14	%		-2.80	%		-3.40	%

Return on average equity from continuing operations		-118.33	%		-174.28	%		-57.83	%		-104.59	%		-125.42	%		-112.72	%		-88.50	%

Return on average tangible equity from continuing operations — Non-GAAP		-138.75	%		-193.89	%		-64.56	%		-110.64	%		-132.56	%		-127.22	%		-95.16	%

BankAtlantic (Bank Operations Business Segment)
Summary of Selected Financial Data (unaudited)


	For the Three Months Ended															Months Ended
(in thousands except percentages)	9/30/2010			6/30/2010			3/31/2010			12/31/2009			9/30/2009			9/30/2010			9/30/2009
Statistics:
Average interest earning assets	$	4,234,115			4,240,545			4,355,771			4,545,711			4,682,449			4,276,245			4,974,977
Average interest bearing liabilities	$	3,189,179			3,220,458			3,383,776			3,494,040			3,717,691			3,263,758			4,039,043
Period end borrowings to deposits and borrowings	%	5.76			4.13			4.84			8.00			9.52			5.76			9.52
Efficiency ratio	%	91.87			94.05			77.86			96.82			77.99			87.75			85.90
Yield on interest earning assets	%	4.19			4.08			4.34			4.40			4.58			4.22			4.64
Cost of interest-bearing liabilities	%	0.65			0.78			0.99			1.13			1.30			0.81			1.65
Interest spread	%	3.54			3.30			3.35			3.27			3.28			3.41			2.99
Net interest margin	%	3.70			3.49			3.57			3.62			3.54			3.60			3.30
Non-GAAP Measures (Note 1)
Average tangible assets	$	4,489,189			4,544,611			4,668,854			4,819,572			4,959,000			4,566,803			5,284,659
Average tangible equity	$	338,712			356,572			367,220			425,344			376,006			353,971			389,597
Pre-tax core operating earnings	$	13,922			9,078			15,774			10,428			23,975			38,774			58,783
Core operating efficiency ratio	%	78.95			85.65			76.71			84.70			68.85			80.33			73.81
Return on average tangible assets	%	(1.57	)		(3.51	)		(1.47	)		(4.04	)		(2.85	)		(2.18	)		(2.52	)
Return on average tangible equity	%	(20.87	)		(44.73	)		(18.66	)		(45.74	)		(37.56	)		(28.13	)		(34.25	)
Tangible capital to tangible assets	%	7.08			7.29			7.55			7.66			8.37
Earning assets repricing at period end:
Percent of earning assets that have fixed rates	%	45			47			48			48			49
Percent of earning assets that have variable rates	%	55			53			52			52			51
Regulatory capital ratios and statistics at period end
Total risk-based capital	%	12.59			12.86			12.86			12.56			13.51
Tier I risk-based capital	%	10.59			10.87			10.90			10.63			11.60
Core capital	%	7.17			7.36			7.51			7.58			8.31
Risk-weighted assets	$	3,021,862			3,104,341			3,206,075			3,364,662			3,470,256
Adjusted total assets	$	4,459,875			4,584,519			4,656,270			4,720,917			4,843,459

Note 1

See page 15 for a reconciliation of non-GAAP measures to GAAP financial measures.

BankAtlantic (Bank Operations Business Segment)
Condensed Statements of Operations (unaudited)


																For the Nine
	For the Three Months Ended															Months Ended
(in thousands)	9/30/2010			6/30/2010			3/31/2010			12/31/2009			9/30/2009			9/30/2010			9/30/2009
Net interest income	$	39,101			37,008			39,459			39,992			41,485			115,568			123,332
Provision for loan losses		23,012			43,634			32,034			82,523			52,246			98,680			131,721

Net interest income after provision for loan losses		16,089			(6,626	)		7,425			(42,531	)		(10,761	)		16,888			(8,389	)

Non-interest income
Service charges on deposits		15,214			15,502			15,048			17,940			19,767			45,764			57,799
Other service charges and fees		7,495			7,739			7,378			7,103			7,355			22,612			22,439
Securities activities, net		(543	)		309			3,132			—			4,774			2,898			11,161
Other non-interest income		4,869			2,721			2,699			3,116			3,596			10,289			9,734

Total non-interest income		27,035			26,271			28,257			28,159			35,492			81,563			101,133

Non-interest expense
Employee compensation and benefits		22,475			24,254			24,374			26,229			23,917			71,103			76,980
Occupancy and equipment		13,263			13,745			13,581			14,269			14,553			40,589			44,305
Advertising and business promotion		1,917			2,121			1,934			2,254			1,514			5,972			6,141
Professional fees		4,942			4,220			2,565			4,542			2,752			11,727			8,032
Check losses		763			521			432			1,207			1,146			1,716			2,981
Supplies and postage		929			895			965			1,106			987			2,789			2,978
Telecommunication		697			655			529			842			348			1,881			1,622
Cost associated with debt redemption		—			53			7			—			5,431			60			7,463
Provision for tax certificates		885			2,134			733			686			(198	)		3,752			2,702
(Gain) loss on sale of real estate		(442	)		880			(104	)		(122	)		67			334			(220	)
Impairment, restructuring and exit activities		8,099			2,247			143			7,700			1,730			10,489			14,757
FDIC special assessment		—			—			—			—			—			—			2,428
Other		7,228			7,790			7,562			7,274			7,785			22,580			22,643

Total non-interest expense		60,756			59,515			52,721			65,987			60,032			172,992			192,812

Loss from bank operations business segment before income taxes		(17,632	)		(39,870	)		(17,039	)		(80,359	)		(35,301	)		(74,541	)		(100,068	)
Provision (benefit) for income taxes		37			—			90			(31,722	)		3			127			3

Net loss from bank operations business segment		(17,669	)		(39,870	)		(17,129	)		(48,637	)		(35,304	)		(74,668	)		(100,071	)
Less: net income attributable to noncontrolling interest		(225	)		(239	)		(208	)		—			—			(672	)		—

Net loss attributable to BankAtlantic	$	(17,894	)		(40,109	)		(17,337	)		(48,637	)		(35,304	)		(75,340	)		(100,071	)

BankAtlantic (Bank Operations Business Segment)
Condensed Statements of Financial Condition (unaudited)


	As of
(in thousands)	9/30/2010		6/30/2010		3/31/2010		12/31/2009		9/30/2009
ASSETS
Loans receivable, net	$	3,220,936		3,367,633		3,485,228		3,659,943		3,807,800
Investment securities and FHLB stock		150,035		189,120		137,189		159,742		187,152
Available for sale securities		446,591		275,065		243,779		320,322		355,340
Goodwill		13,081		13,081		13,081		13,081		13,081
Core deposit intangible asset		1,796		2,105		2,413		2,736		3,058
Assets held for sale		37,209		—		—		—		—
Other assets		615,828		764,278		806,311		599,298		515,954

Total assets	$	4,485,476		4,611,282		4,688,001		4,755,122		4,882,385


LIABILITIES AND EQUITY
Deposits
Demand	$	809,830		902,486		900,984		827,580		809,749
Savings		411,612		442,142		443,288		412,360		425,508
NOW		1,288,792		1,496,369		1,501,274		1,409,138		1,238,542
Money market		386,091		397,313		361,877		360,043		372,442
Certificates of deposit		601,956		749,948		840,017		960,559		1,113,238
Deposits held for sale		339,360		—		—		—		—

Total deposits		3,837,641		3,988,258		4,047,440		3,969,680		3,959,479
Advances from Federal Home Loan Bank		180,000		115,000		152,008		282,012		342,016
Short term borrowings		32,666		34,685		31,797		40,657		51,825
Long term debt		22,000		22,000		22,000		22,697		22,738
Liabilities held for sale		100		—		—		—		—
Other liabilities		81,452		100,904		66,574		61,175		83,085

Total liabilities		4,153,859		4,260,847		4,319,819		4,376,221		4,459,143
Equity		331,617		350,435		368,182		378,901		423,242

Total liabilities and equity	$	4,485,476		4,611,282		4,688,001		4,755,122		4,882,385

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


	For the Three Months Ended
	September 30, 2010							September 30, 2009
	Average		Revenue/		Yield/			Average		Revenue/		Yield/
( in thousands)	Balance		Expense		Rate			Balance		Expense		Rate
Loans:
Residential real estate	$	1,356,748		16,340		4.82	%	$	1,698,715		21,320		5.02	%
Commercial real estate		1,036,215		9,703		3.75			1,196,418		11,566		3.87
Consumer		653,630		4,808		2.94			717,473		5,245		2.92
Commercial business		132,306		2,573		7.78			139,085		1,833		5.27
Small business		306,927		4,875		6.35			314,672		5,004		6.36

Total loans		3,485,826		38,299		4.39			4,066,363		44,968		4.42
Investments		748,289		6,032		3.22			616,086		8,700		5.65

Total interest earning assets		4,234,115		44,331		4.19	%		4,682,449		53,668		4.58	%

Goodwill and core deposit intangibles		15,028							16,297
Other non-interest earning assets		255,074							276,551

Total Assets	$	4,504,217						$	4,975,297


Deposits:
Savings	$	444,981		250		0.22	%	$	431,516		367		0.34	%
NOW		1,484,558		1,441		0.39			1,237,459		1,930		0.62
Money market		404,406		551		0.54			392,344		642		0.65
Certificates of deposit		689,664		2,635		1.52			1,175,821		6,480		2.19

Total interest bearing deposits		3,023,609		4,877		0.64			3,237,140		9,419		1.15

Short-term borrowed funds		36,885		12		0.13			47,186		15		0.13
Advances from FHLB		106,685		106		0.39			410,628		2,494		2.41
Long-term debt		22,000		235		4.24			22,737		255		4.45

Total interest bearing liabilities		3,189,179		5,230		0.65			3,717,691		12,183		1.30
Demand deposits		907,272							808,802
Non-interest bearing other liabilities		56,525							63,870

Total Liabilities		4,152,976							4,590,363
Equity		351,241							384,934

Total liabilities and equity	$	4,504,217						$	4,975,297

Net interest income/ net interest spread				39,101		3.54	%				41,485		3.28	%

Margin
Interest income/interest earning assets						4.19	%						4.58	%
Interest expense/interest earning assets						0.49							1.04

Net interest margin						3.70	%						3.54	%

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


	For the Nine Months Ended
	September 30, 2010							September 30, 2009
	Average		Revenue/		Yield/			Average		Revenue/		Yield/
(in thousands)	Balance		Expense		Rate			Balance		Expense		Rate
Loans:
Residential real estate	$	1,433,884		53,048		4.93	%	$	1,811,487		69,736		5.13	%
Commercial real estate		1,061,298		30,821		3.87			1,214,049		35,802		3.93
Consumer		670,532		14,537		2.89			730,846		15,946		2.91
Commercial business		134,900		6,773		6.69			141,301		5,655		5.34
Small business		308,234		14,538		6.29			317,623		15,020		6.31

Total loans		3,608,848		119,717		4.42			4,215,306		142,159		4.50
Investments		667,397		15,600		3.12			759,671		30,908		5.42

Total interest earning assets		4,276,245		135,317		4.22	%		4,974,977		173,067		4.64	%

Goodwill and core deposit intangibles		15,342							19,593
Other non-interest earning assets		290,558							309,682

Total Assets	$	4,582,145						$	5,304,252


Deposits:
Savings	$	438,707		855		0.26	%	$	441,270		1,258		0.38	%
NOW		1,492,442		5,444		0.49			1,148,733		5,155		0.60
Money market		384,024		1,810		0.63			408,656		2,089		0.68
Certificates of deposit		796,375		9,846		1.65			1,243,603		25,431		2.73

Total deposits		3,111,548		17,955		0.77			3,242,262		33,933		1.40

Short-term borrowed funds		36,633		35		0.13			129,487		223		0.23
Advances from FHLB		93,410		1,065		1.52			644,516		14,740		3.06
Long-term debt		22,167		694		4.19			22,778		839		4.92

Total interest bearing liabilities		3,263,758		19,749		0.81			4,039,043		49,735		1.65
Demand deposits		896,080							798,390
Non-interest bearing other liabilities		55,266							62,751

Total Liabilities		4,215,104							4,900,184
Stockholder’s equity		367,041							404,068

Total liabilities and stockholder’s equity	$	4,582,145						$	5,304,252

Net interest income/net interest spread				115,568		3.41	%				123,332		2.99	%


Margin
Interest income/interest earning assets						4.22	%						4.64	%
Interest expense/interest earning assets						0.62							1.34

Net interest margin						3.60	%						3.30	%

BankAtlantic (Bank Operations Business Segment)
Allowance for Loan Loss and Credit Quality


																For the Nine
	For the Three Months Ended															Months Ended
(in thousands)	9/30/2010			6/30/2010			3/31/2010			12/31/2009			9/30/2009			9/30/2010			9/30/2009
Allowance for Loan Losses

Beginning balance	$	180,635			169,548			173,588			165,975			156,821			173,588			125,572

Charge-offs:
Residential real estate		(4,619	)		(5,233	)		(4,181	)		(7,579	)		(7,174	)		(14,033	)		(15,685	)
Commercial real estate		(5,969	)		(14,146	)		(21,332	)		(58,664	)		(21,541	)		(41,447	)		(37,636	)
Commercial business		—			—			—			—			—			—			(516	)
Consumer		(9,881	)		(11,822	)		(10,771	)		(8,307	)		(12,490	)		(32,474	)		(31,929	)
Small business		(2,402	)		(2,225	)		(837	)		(1,738	)		(2,249	)		(5,464	)		(7,367	)

Total charge-offs		(22,871	)		(33,426	)		(37,121	)		(76,288	)		(43,454	)		(93,418	)		(93,133	)


Recoveries:
Residential real estate		383			435			64			96			133			882			816
Commercial real estate		—			65			62			422			—			127			278
Commercial business		—			1			658			494			—			659			6
Consumer		294			254			194			205			157			742			382
Small business		307			124			69			161			72			500			333

Total recoveries		984			879			1,047			1,378			362			2,910			1,815

Net charge-offs		(21,887	)		(32,547	)		(36,074	)		(74,910	)		(43,092	)		(90,508	)		(91,318	)
Provision for loan losses		23,012			43,634			32,034			82,523			52,246			98,680			131,721

Ending balance	$	181,760			180,635			169,548			173,588			165,975			181,760			165,975


							As of
							9/30/2010			6/30/2010			3/31/2010			12/31/2009			9/30/2009
Credit Quality
Nonaccrual loans
Commercial real estate							$	275,057			230,007			168,937			167,867			189,720
Consumer								13,282			13,818			14,428			14,451			11,336
Small business								10,995			12,248			10,971			9,338			9,693
Residential real estate								87,563			83,894			88,262			76,401			76,022
Commercial business								17,190			22,159			18,767			18,063			8,094

Total Nonaccrual loans								404,087			362,126			301,365			286,120			294,865
Nonaccrual tax certificates								2,761			2,836			1,495			2,161			3,011
Real estate owned								58,017			45,492			40,833			35,935			30,796
Other repossessed assets								—			88			—			10			13

Total nonperforming assets							$	464,865			410,542			343,693			324,226			328,685


Allowance for loan losses to total loans							%	5.34			5.09			4.64			4.53			4.18
Allowance to nonaccrual loans							%	44.98			49.88			56.26			60.67			56.29
Provision to average loans							%	2.64			4.86			3.42			8.39			5.14
Annualized net charge-offs to average loans							%	2.51			3.62			3.85			7.61			4.24
Nonperforming loans to total assets							%	9.01			7.85			6.43			6.02			6.04
Nonperforming assets to total assets							%	10.36			8.90			7.33			6.82			6.73

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


($ in thousands)	9/30/2010		6/30/2010		3/31/2010		12/31/2009		9/30/2009
Commercial real estate	$	14,317		7,537		40,642		25,489		12,500
Consumer		12,004		13,181		14,858		15,173		13,678
Small business		2,927		4,182		3,891		2,714		3,900
Residential real estate		17,946		18,472		26,893		26,710		24,877
Commercial business		—		—		1,129		2,820		4,863

Total BankAtlantic	$	47,194		43,372		87,413		72,906		59,818


	9/30/2010			6/30/2010			3/31/2010			12/31/2009			9/30/2009
Commercial real estate	%	1.43	*		0.72	*		3.85	*		2.28	*		1.07	*
Consumer	%	1.90			2.04			2.23			2.23			1.97
Small business	%	0.96			1.35			1.26			0.87			1.25
Residential real estate	%	1.37	**		1.32	**		1.83	**		1.72	**		1.52	**
Commercial business	%	—			—			0.84			1.80			3.27

Total BankAtlantic	%	1.39			1.23			2.40			1.91			1.51


*		Excludes$12.0 million, $1.2 million, $0, $8.7 million and $0 million of Commercial Real Estate loans at September 30, June 30, 2010, March 31, 2010, December 31,2009, and September 30, 2009, 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 2.63%, .83%, and 3.07% and total BankAtlantic delinquencies would have been 1.75%, 1.26% and 2.14% at September 30, 2010, June 30, 2010 and December 31, 2009, respectively.

**		Includes $1.2 billion, $1.3 billion, $1.4 billion, $1.5 billion and $1.6 billion of purchased residential loans with delinquencies excluding non-accrual loans of 1.19%, 1.09%, 1.63%, 1.59% and 1.44% as of September 30, 2010, June 30, 2010, March 31, 2010, December 31, 2009 and September 30, 2009, respectively.

BankAtlantic (Bank Operations Business Segment)
Loan Provision & Allowance for Loan Losses


			Allowance		% of Reserves
	3Q 2010		for Loan		to Total
($ in thousands)	Loan Provision		Losses		Loans

Commercial real estate	$	7,756		100,331		10.04	%
Consumer		6,957		38,428		6.08
Small business		4,023		10,921		3.57
Residential real estate		3,578		21,970		1.68
Commercial business		698		10,110		7.33

Total BankAtlantic	$	23,012		181,760		5.34	%

BankAtlantic (Bank Operations Business Segment)
Reconciliation of GAAP Financial Measures to Non-GAAP Measures

Management uses non-GAAP financial measures to supplement its GAAP financial information and to provide additional useful measures in the evaluation of BankAtlantic’s operating results and any related trends that may be affecting BankAtlantic’s business. Management uses pre-tax core operating earnings to measure BankAtlantic’s ongoing financial performance excluding items that are not currently controllable by management. Management uses core expenses to measure expense reduction trends excluding items that are not currently controllable by management. The core operating efficiency ratio is used by management to measure the costs expended to generate a dollar of revenues excluding items that are not currently controllable by management. The return on average tangible equity and average tangible assets is used by management to measure BankAtlantic’s effectiveness in its use of capital and assets, respectively, and to allow for comparison to other companies in the industry. The tangible equity to tangible asset ratio is used by management to evaluate capital adequacy trends and to allow for comparison to other companies in the industry. Management uses the core deposit measure to assess trends relating to its lower cost deposit categories, which management believes may generally be more indicative of relationship deposits. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies.

Reconciliation of loss from bank operations business segment before income taxes to pre-tax core operating earnings


																For the Nine
	For the Three Months Ended															Months Ended
(in thousands)	9/30/2010			6/30/2010			3/31/2009			12/21/2003			9/30/2009			9/30/2010			9/30/2009

Loss from bank operations business segment before income taxes	$	(17,632	)		(39,870	)		(17,039	)		(80,359	)		(35,301	)		(74,541	)		(100,068	)
Costs associated with debt redemption		—			53			7			—			5,431			60			7,463
Provision for tax certificates		885			2,134			733			686			(198	)		3,752			2,702
Loss (gain) on sale of real estate		(442	)		880			(104	)		(122	)		67			334			(220	)
Impairment, restructuring and exit activities		8,099			2,247			143			7,700			1,730			10,489			14,757
FDIC special assessment		—			—			—			—			—			—			2,428
Provision for loan losses		23,012			43,634			32,034			82,523			52,246			98,680			131,721

Non-GAAP pre-tax core operating earnings	$	13,922			9,078			15,774			10,428			23,975			38,774			58,783

Reconciliation of non-interest expense to core expenses and calculation of core operating efficiency ratio


																For the Nine
	For the Three Months Ended															Months Ended
($ in thousands)	9/30/2010			6/30/2010			3/31/2010			12/31/2009			9/30/2009			9/30/2010			9/30/2009

Non-interest expense	$	60,756			59,515			52,721			65,987			60,032			172,992			192,812
Costs associated with debt redemption		—			(53	)		(7	)		—			(5,431	)		(60	)		(7,463	)
Provision for tax certificates		(885	)		(2,134	)		(733	)		(686	)		198			(3,752	)		(2,702	)
Gain (loss) on sale of real estate		442			(880	)		104			122			(67	)		(334	)		220
Impairment, restructuring and exit activities		(8,099	)		(2,247	)		(143	)		(7,700	)		(1,730	)		(10,489	)		(14,757	)
FDIC special assessment		—			—			—			—			—			—			(2,428	)

Core expenses	$	52,214			54,201			51,942			57,723			53,002			158,357			165,682

Net interest income		39,101			37,008			39,459			39,992			41,485			115,568			123,332
Non-interest income		27,035			26,271			28,257			28,159			35,492			81,563			101,133

Total revenues	$	66,136			63,279			67,716			68,151			76,977			197,131			224,465

Non-GAAP core operating efficiency ratio		78.95	%		85.65	%		76.71	%		84.70	%		68.85	%		80.33	%		73.81	%

Reconciliation of return on average assets and average equity to return on average tangible assets and average tangible equity


																For the Nine
	For the Three Months Ended															Months Ended
($ in thousands)	9/30/2010			6/30/2010			3/31/2010			12/31/2009			9/30/2009			9/30/2010			9/30/2009

Net loss from bank operations business segment	$	(17,669	)		(39,870	)		(17,129	)		(48,637	)		(35,304	)		(74,668	)		(100,071	)

Average total assets		4,504,217			4,559,964			4,684,506			4,835,545			4,975,297			4,582,145			5,304,252
Average goodwill and core deposit intangibles		(15,028	)		(15,353	)		(15,652	)		(15,973	)		(16,297	)		(15,342	)		(19,593	)

Average tangible assets		4,489,189			4,544,611			4,668,854			4,819,572			4,959,000			4,566,803			5,284,659

Average equity		351,241			368,472			382,027			436,322			384,934			367,041			404,068
Average goodwill and core deposit intangibles		(15,028	)		(15,353	)		(15,652	)		(15,973	)		(16,297	)		(15,342	)		(19,593	)
Other comprehensive loss		2,499			3,453			845			4,995			7,369			2,271			5,122

Average tangible equity	$	338,712			356,572			367,220			425,344			376,006			353,970			389,597
Return on average assets from continuing operations		-1.57	%		-3.50	%		-1.46	%		-4.02	%		-2.84	%		-2.17	%		-2.52	%

Return on average tangible assets from continuing operations — Non-GAAP		-1.57	%		-3.51	%		-1.47	%		-4.04	%		-2.85	%		-2.18	%		-2.52	%

Return on average equity from continuing operations		-20.12	%		-43.28	%		-17.93	%		-44.59	%		-36.69	%		-27.12	%		-33.02	%

Return on average tangible equity from continuing operations — Non-GAAP		-20.87	%		-44.73	%		-18.66	%		-45.74	%		-37.56	%		-28.13	%		-34.25	%

Reconciliation of equity to total tangible capital; Total assets to total tangible assets; The calculation of tangible capital to tangible assets


	For the Three Months Ended
($ in thousands)	9/30/2010			6/30/2010			3/31/2010			12/31/2009			9/30/2009

Equity	$	331,617			350,435			368,182			378,901			423,242
Goodwill and core deposit intangibles		(14,877	)		(15,186	)		(15,494	)		(15,817	)		(16,139	)

Total tangible capital		316,740			335,249			352,688			363,084			407,103

Total assets		4,485,476			4,611,282			4,688,001			4,755,122			4,882,385
Goodwill and core deposit intangibles		(14,877	)		(15,186	)		(15,494	)		(15,817	)		(16,139	)

Total tangible assets	$	4,470,599		$	4,596,096		$	4,672,507		$	4,739,305		$	4,866,246

Non-GAAP tangible capital to tangible assets		7.08	%		7.29	%		7.55	%		7.66	%		8.37	%

Reconciliation of total deposits to core deposits


	For the Three Months Ended
(in thousands)	9/30/2010			6/30/2010			3/31/2010			12/31/2009			9/30/2009

Total deposits	$	3,837,641			3,988,258			4,047,440			3,969,680			3,959,479
Non-core deposits held for sale		(78,088	)		—			—			—			—
Money market		(386,091	)		(397,313	)		(361,877	)		(360,043	)		(372,442	)
Certificates of deposit		(601,956	)		(749,948	)		(840,017	)		(960,559	)		(1,113,238	)

Core deposits		2,771,506			2,840,997			2,845,546			2,649,078			2,473,799

Parent Company Business Segment
Condensed Statements of Operations (unaudited)


																For the Nine
	For the Three Months Ended															Months Ended
(in thousands)	9/30/2010			6/30/2010			3/31/2010			12/31/2009			9/30/2009			9/30/2010			9/30/2009
Net interest expense	$	(3,792	)		(3,579	)		(3,485	)		(3,501	)		(3,633	)		(10,856	)		(11,461	)
Provsion (recovery) for loan losses		1,398			4,919			(1,279	)		(1,222	)		11,340			5,038			19,636

Net interest income after provision for loan losses		(5,190	)		(8,498	)		(2,206	)		(2,279	)		(14,973	)		(15,894	)		(31,097	)

Non-interest income
Income from unconsolidated subsidiaries		293			237			189			145			109			719			342
Securities activities, net		(9	)		3			6			1,274			—			—			(1,255	)
Other		292			271			263			294			255			826			764

Non-interest income		576			511			458			1,713			364			1,545			(149	)

Non-interest expense
Employee compensation and benefits		1,074			901			1,004			2,399			959			2,979			2,637
Advertising and business promotion		109			118			10			31			35			237			220
Professional fees		1,267			604			322			596			718			2,193			1,459
Loss on sale of real estate		—			610			—			—			—			610			—
Impairment of real estate owned		66			700			—			—			—			766			—
Other		385			460			308			235			464			1,153			1,423

Non-interest expense		2,901			3,393			1,644			3,261			2,176			7,938			5,739

Loss from parent company activities before income taxes		(7,515	)		(11,380	)		(3,392	)		(3,827	)		(16,785	)		(22,287	)		(36,985	)
Provision (benefit) for income taxes		—			—			—			—			—			—			—

Net loss from parent company business segment	$	(7,515	)		(11,380	)		(3,392	)		(3,827	)		(16,785	)		(22,287	)		(36,985	)

Parent Company Business Segment
Condensed Statements of Financial Condition — Unaudited


	As of
(in thousands)	9/30/2010		6/30/2010		3/31/2010		12/31/2009		9/30/2009
ASSETS
Cash	$	12,240		8,395		5,135		14,002		16,105
Securities		1,508		1,508		1,506		1,505		2,207
Investment in subsidiaries		359,368		379,776		413,759		423,529		466,671
Investment in unconsolidated subsidiaries		10,027		9,733		9,496		9,307		9,161
Other assets		1,635		2,430		2,329		4,017		2,630

Total assets	$	384,778		401,842		432,225		452,360		496,774

LIABILITIES AND STOCKHOLDERS’ EQUITY
Subordinated debentures and notes payable	$	318,802		315,160		311,707		308,334		304,944
Other liabilities		2,314		9,632		1,288		2,455		2,388

Total liabilities		321,116		324,792		312,995		310,789		307,332

Stockholders’ equity		63,662		77,050		119,230		141,571		189,442

Total liabilities and stockholders’ equity	$	384,778		401,842		432,225		452,360		496,774

Parent Company Business Segment
Allowance for Loan Loss and Credit Quality


Parent Company and Work-out Subsidiary																For the Nine
	For the Three Months Ended															Months Ended
(in thousands)	9/30/2010			6/30/2010			3/31/2010			12/31/2009			9/30/2009			9/30/2010			9/30/2009
Allowance for Loan Losses

Beginning balance	$	7,227			8,049			13,630			18,688			15,399			13,630			11,685
Net charge-offs		(4,438	)		(5,741	)		(4,302	)		(3,836	)		(8,051	)		(14,481	)		(12,633	)
Provision (recovery) for loan losses		1,398			4,919			(1,279	)		(1,222	)		11,340			5,038			19,636

Ending balance	$	4,187			7,227			8,049			13,630			18,688			4,187			18,688


	As of
	9/30/2010			6/30/2010			3/31/2010			12/31/2009			9/30/2009
Credit Quality
Total Loans — gross	$	22,793			27,319			38,363			48,012			56,783

Nonaccrual loans	$	19,916			24,358			35,326			44,897			53,520
Specific reserves		(4,187	)		(7,227	)		(8,049	)		(13,630	)		(18,680	)

Nonaccrual loans, net	$	15,729			17,131			27,277			31,267			34,840
Real estate owned		9,766			9,832			10,532			10,532			6,267

Total nonperforming assets	$	25,495			26,963			37,809			41,799			41,107