BankAtlantic Bancorp Reports Earnings
For The First Quarter 2005

FORT LAUDERDALE, Florida – April 19, 2005 — BankAtlantic Bancorp, Inc. (NYSE: BBX) today announced financial results for the first quarter ended March 31, 2005. Net income was $19.9 million for the quarter vs. $20.5 million earned in the corresponding period in 2004. The 2004 quarter included a $14.7 million after-tax gain recognized in connection with a litigation settlement and $7.6 million of after-tax costs associated with the prepayment of certain high cost debt. Excluding the effect of these items, net income in the first quarter 2004 would have been $13.4 million, compared to $19.9 million in the current quarter, an increase of 49%. Diluted net income per share decreased 3% to $0.31, compared to $0.32 in the prior quarter; and excluding the two items discussed above, diluted earnings per share would have increased 48% to $0.31, up from $0.21 in the first quarter, 2004.

     Alan B. Levan, Chairman and Chief Executive Officer of BankAtlantic Bancorp commented, “We are very pleased with the quarter’s results. BankAtlantic’s growth in new low-cost deposits continued at rates among the highest in our industry, asset quality remained very high, and our momentum continues to be truly excellent. Further, Ryan Beck & Co. delivered solid results.

Additional accomplishments and highlights include:

BankAtlantic:

     “BankAtlantic’s landmark ‘Florida’s Most Convenient Bank’ initiative continues to result in impressive growth in new customer generation. Since January 2002, BankAtlantic has opened nearly 465,000 new checking and savings accounts, including nearly 55,000 in the first quarter of 2005. Balances in low cost deposits increased 25% over the first quarter of 2004 to a total of $1.9 billion at quarter-end, and on a “same store” basis, the increase was 27%. At December 31, 2001, immediately preceding the initiation of the ‘Florida’s Most Convenient Bank’ program, BankAtlantic had $602 million in low cost deposits. Non-interest bearing demand deposits now constitute 26% of deposit funding, up from 24% a year ago, and 13% before the initiation of the program. The sustained growth in core deposits continues to exceed our initial goals and reinforces our belief that customers place a high value on the unique and unparalleled convenience offered by BankAtlantic.

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Following is the comparative data of Period-end Balances:

Period-end Balances
Annual, Year-over-Year

(In Millions)

	2004		2003		Change
Checking (DDA/NOW)	$	1,549.1	$	1,179.2		+31.4	%
Savings	$	270.0	$	209.0		+29.2	%
Total	$	1,819.1	$	1,388.2		+31.0	%

Quarterly, Year-over-Year

(In Millions)

	1Q'05		1Q'04		Change
Checking (DDA/NOW)	$	1,637.1	$	1,316.1		+24.4	%
Savings	$	296.5	$	233.8		+26.8	%
Total	$	1,933.6	$	1,549.9		+24.8	%

     “The tax equivalent net interest margin improved to 3.88% in the first quarter of 2005 vs. 3.73% in the first quarter 2004, but down slightly from the 3.91% in the fourth quarter 2004. The decline from the 2004 fourth quarter net interest margin is attributable to acquisitions of securities and residential loans made late in that quarter, and offsets what we believe to be good fundamental growth in our margin from core banking activities. The core net interest margin reflects the growth in our low cost deposits and higher yields on commercial, consumer, and small business loans. Although a shift in the slope of the yield curve could moderate further margin improvement, we believe BankAtlantic is capable of achieving gradual further margin improvement in a rising interest rate environment.

     “Asset quality continued to be positive with the ratio of non-performing loans to total loans declining from 0.17% at December 31, 2004 to 0.14% at March 31, 2005. During the quarter, the Bank had net recoveries of $948,000 vs. net recoveries of $647,000 for the first quarter of 2004. The primary contributor to the net recovery for the quarter was a $1.1 million partial recovery of a loan charged off in 2003. The net recoveries, coupled with continuing asset quality improvement, the continued liquidation of discontinued loan portfolios, and the repayment of a large classified loan resulted in a negative provision for the quarter of $3.9 million vs. a negative provision in the first quarter of 2004 of $859,000.

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     “Loan production remained strong, with loan totals growing 27% to $4.7 billion in the first quarter 2005, vs. $3.7 billion at March 31, 2004. Average consumer loans grew 30%, and average small business loans were up 13% in the first quarter. Residential loan purchases in the second half of 2004 led to a large year-over-year increase in those loans.

     “In January, BankAtlantic commenced several new initiatives — a new program of ‘midnight hours’ at selected stores, extended hours in all locations, and ‘Totally Free Online Banking & Bill Pay.’ The ‘midnight hours’ provide customers with full-service banking at times convenient to their busy schedules by staying open 7 days a week from 7:30 a.m. to midnight. We have five stores that are open until midnight, selected on the basis of demographics that we believe will find this convenience especially attractive. Earlier this quarter, we announced that beginning Labor Day, 2005, all BankAtlantic stores, with the exception of the five Midnight locations, will be open from 7:30 AM to 8:00 PM for lobby and drive-up services six days a week, Monday through Saturday, and 11:00 AM to 4:00 PM on Sundays. BankAtlantic’s ‘Totally Free Online Banking & Bill Pay’ is free for small business and retail customers, has no additional fees and no restrictions on the number of payments, and makes account management and monthly bill paying both affordable and convenient.

     “During the quarter we launched the latest addition to the BankAtlantic ATM fleet. In partnership with Cunard, one of the world’s largest international cruise lines, the BankAtlantic network of ATM’s now includes ports of call around the globe aboard the Queen Mary 2. The addition of Cunard Lines brings BankAtlantic’s cruise ship ATM business into five of the largest cruise lines serving the United States.

     The previously announced regulatory compliance issue, involving deficiencies in our compliance with the USA Patriot Act, the Bank Secrecy Act and related anti-money laundering laws, continues to require bank resources and considerable management focus. We believe that we have taken significant corrective action in respect to identified deficiencies, and are now operating with increased staff levels and enhanced systems capabilities. Resolution of the issues raised by the deficiencies identified remains uncertain. The possibility of regulatory action, including significant financial penalties, and restrictions on BankAtlantic’s operations may be imposed, and no estimate of a date for resolution of this matter can be given. A more detailed discussion of this matter is contained below under “Compliance Matter.”

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Ryan Beck & Co.:

     “For the first quarter 2005, Ryan Beck & Co. reported operating revenues of $57.6 million, and net income of $2.5 million. Return on average tangible equity was 11.9% for the first quarter 2005 vs. 28.3% in the first quarter 2004. Revenues from Ryan Beck & Co.’s Private Client Group were $38.9 million in the first quarter 2005, vs. $43.9 million at March 31, 2004. The decline comes as investors were less active in the securities markets during the 2005 period. For the first quarter 2005, Capital Markets revenues were $8.1 million, vs. $9.8 million in the comparable 2004 period, and Investment Banking revenues were $9.9 million, vs. $10.9 million in the comparable 2004 period.

     “During the quarter, Ryan Beck’s financial institutions group announced or completed seven deals, three of which were Merger & Acquisition (M&A) transactions. Ryan Beck ranked third nationally in number of M&A transactions for the first quarter, 2005. (Source: SNL Securities, as of 4/6/05).

     “Consistent with its 2005 business plan, Ryan Beck expanded its Capital Markets Group with the hiring of 21 institutional equity and fixed income trading and sales professionals, along with six equity research professionals. It is anticipated that the new hires will significantly increase Ryan Beck’s ability to service institutional investors, benefit both institutional and retail investors, and will result in research coverage for three new sectors, including Aerospace, Defense and Homeland Security, Healthcare Services, and Real Estate Investment Trusts (REITs). During the quarter, Ryan Beck also continued its active recruiting program for Financial Consultants, with significant additions throughout its system. The Private Client Group also relocated its New Haven, CT office to a larger, more modern facility in Hamden, CT, and upgraded and refurbished its Allentown, Pennsylvania and Shrewsbury, New Jersey offices.

     “Ryan Beck launched a new, proprietary unit investment trust, the ‘Ryan Beck Select Core Equity Portfolio.’ Through an investment in equity securities, the ‘Select Core Equity Portfolio’s objective is to achieve above-average total return through a combination of capital appreciation and dividend income. As of the first quarter 2005, the total assets in the trust amounted to $42 million.

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     “Ryan Beck continued its no-nonsense ‘Let’s Get Down to Work’ advertising campaign. Utilizing local cable stations and rail platforms, the campaign’s demographic target market focuses in Northern and Central New Jersey, Long Island, Lower Connecticut, Westchester and Rockland counties, concluded Levan.

Financial Highlights:
First Quarter, 2005 Compared to First Quarter, 2004

BankAtlantic Bancorp — consolidated:

•   Net income of $19.9 million vs. $20.5 million. Excluding an after-tax gain of $14.7 million from a litigation settlement and a $7.6 million after-tax expense resulting from early redemption of debt, net income would have been $19.9 million vs. $13.4 million, an increase of 49%.

•   Earnings per share of $0.31 vs. $0.32. Excluding the effects of the 2004 litigation settlement and debt redemption, diluted earnings per share would have been $0.31 vs. $0.21, an increase of 48%.

•   Return on average tangible equity was 20.20%.

•   Book value per share rose to $7.94.

BankAtlantic:

•   Business segment net income, excluding the $7.6 million after-tax expense of debt redemption in 2004, was $20.9 million vs. $11.4 million, an increase of 83%.

•   Return on average tangible assets was 1.40%.

•   Return on average tangible equity was 18.60%.

•   Tax equivalent net interest margin increased to 3.88% vs. 3.73%

•   Non-interest income was $23.5 million vs. $18.2 million, an increase of 29%.

•   Non-interest expense, excluding the $11.7 million in pre-tax expense associated with debt redemption, grew to $50.3 million vs. $41.8 million, an increase of 20%.

Ryan Beck & Co.:

•   Business segment income decreased to $2.5 million vs. $5.1 million.

•   Return on average tangible equity was 11.87%.

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•   Total operating revenues decreased to $57.6 million vs. $65.9 million.

•   Principal transaction revenue was $19.8 million vs. $24.4 million.

•   Investment banking revenue decreased to $11.9 million vs. $12.6 million.

•   Commission income was $20.3 million vs. $25.4 million.

Compliance Matter:

     BankAtlantic previously reported that it had identified deficiencies in BankAtlantic’s compliance with the USA PATRIOT Act, anti-money laundering laws and the Bank Secrecy Act and that it has been cooperating with regulators and other federal agencies concerning these deficiencies. BankAtlantic has provided and is continuing to provide information to the government pursuant to a number of subpoenas relating to, among other things, numerous customers and transactions and the Bank’s policies and procedures. BankAtlantic Bancorp cannot predict whether or to what extent civil or criminal regulatory action or monetary or other penalties will be pursued against the Bank or the Company by regulators or other federal agencies.

     Recently, Riggs Bank, N.A. announced that it had consented to a $25 million civil money penalty paid to the Department of the Treasury, assessed concurrently by the Financial Crimes Enforcement Network (FinCEN”) and the Office of the Comptroller of the Currency, for willful, systemic violation of the anti-money laundering program and suspicious activity and currency transaction requirements of the Bank Secrecy Act. Riggs Bank, N.A. also announced that it has resolved an investigation into its Bank Secrecy Act compliance by pleading guilty to a count of failing to file timely and/or accurate Suspicious Activity Reports, paid a $16 million fine and agreed to a five-year period of corporate probation. Riggs National Corporation, the holding company for Riggs Bank, N.A., also consented to the issuance of a Cease and Desist Order relating to future compliance and board oversight, which, among other things, prohibits the declaration or payment of dividends on its stock or distributions of interest, principal or other sums with respect to debentures issued in connection with its trust preferred securities, or redeem or repurchase any of its stock without regulatory approval.

     Further, AmSouth Corporation (“AmSouth”) and AmSouth Bank disclosed that they entered into a deferred prosecution agreement with the U.S. Attorney relating to deficiencies in the bank’s reporting of

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suspicious activities under the Bank Secrecy Act. AmSouth also announced that it entered into a Cease and Desist Order with the Federal Reserve and the Alabama Department of Banking and an order with FinCEN relating to deficiencies in AmSouth’s compliance with the Bank Secrecy Act. AmSouth announced that under the deferred prosecution agreement, it agreed to make a payment of $40 million to the United States and, in connection with the Federal Reserve and FinCEN orders, was assessed a $10 million civil money penalty. AmSouth also disclosed that in connection with the Cease and Desist Order, the Federal Reserve indicated it would restrict AmSouth’s expansion activities until such time as the Federal Reserve believes the company is in substantial compliance with the requirements of the order. AmSouth further disclosed that the Cease and Desist Order requires specific actions, including steps to comply with the Bank Secrecy Act.

     Other financial institutions have also been required to enter into regulatory agreements and to pay fines and assessments with respect to their activities. BankAtlantic Bancorp and BankAtlantic may be the subject of similar civil and criminal regulatory proceedings and actions and may be required to pay fines or penalties which may be similar to, greater than or less than those imposed on other institutions.

- — - — - — - — - -

BankAtlantic Bancorp will host an investor and media teleconference call and webcast on Wednesday, April 20, 2005, 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 PIN number 5456453.

     A replay of the conference call will be available beginning two hours after the call’s completion through 5:00 p.m. Eastern Time, Friday, May 20, 2005. 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 PIN number for both domestic and international calls is 5456453.

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

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and click on the “Webcast” navigation link. The archive of the teleconference call will be available through 5:00 p.m. Eastern Time, Friday, May 20, 2005.

     BankAtlantic Bancorp’s first quarter, 2005 earnings results press release and financial summary, as well as the Supplemental Financials (a detailed summary of significant financial events and extensive business segment financial data), are available on its website at: www.BankAtlanticBancorp.com.

•   To view the press release and financial summary, access the “Investor Relations” section and click on the “Quarterly Financials” navigation link.

•   To view the Supplemental Financials, access the “Investor Relations” section and click on the “Supplemental Financials” navigation link.

     Additional copies of BankAtlantic Bancorp’s first quarter, 2005 earnings results press release and financial summary, and the Supplemental Financials will also be made 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 diversified financial services holding company and the parent company of BankAtlantic and Ryan Beck & Co. Through these subsidiaries, BankAtlantic Bancorp provides a full line of products and services encompassing consumer and commercial banking, brokerage and investment banking.

About BankAtlantic:

BankAtlantic, “Florida’s Most Convenient Bank” is one of the largest financial institutions headquartered in Florida and provides a comprehensive offering of banking services and products via its broad network of community stores throughout Florida and its online banking division - BankAtlantic.com. BankAtlantic has 75 stores and operates more than 200 conveniently located ATMs. BankAtlantic is open 7 days a week and offers holiday hours, extended weekday hours, including several stores open until midnight, Totally Free Online Banking & Bill Pay, 24/7 Customer Service Center, Totally Free Change Exchange coin counters and free retail and business checking with a free gift.

About Ryan Beck & Co.:

     Founded in 1946, Ryan Beck & Co., Inc. provides financial advice and innovative solutions to individuals, institutions and corporate clients through the activities of approximately 1,100 employees in 39 offices located in 14 states. For individual investors, the firm’s Private Client Group provides a full range of financial services, including investment consulting, retirement plans, insurance and investment

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advisory services. Institutional clients benefit from the market making, underwriting and distribution activities of the firm’s experienced Capital Markets Group, which encompasses equity and fixed income trading and institutional sales as well as research. Through its Investment Banking Groups, Ryan Beck raises capital and provides financial advisory services to financial institutions, middle market companies and municipalities.

For further information, please visit our websites:
www.BankAtlanticBancorp.com
www.BankAtlantic.com
www.RyanBeck.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:
Investor Relations & Corporate Communications:
Donna Rouzeau, Assistant Vice President
Email: CorpComm@BankAtlanticBancorp.com
Investor Relations:
Leo Hinkley, Senior Vice President
Email: InvestorRelations@BankAtlanticBancorp.com

Phone: (954) 760-5317, Fax: (954) 760-5415
Mailing Address: BankAtlantic Bancorp, Investor Relations, 1750 East Sunrise Blvd., Fort
Lauderdale, FL 33304

BankAtlantic, “Florida’s Most Convenient Bank,” Contact Info:
Public Relations:

Hattie Hess, Vice President, Public Relations
Telephone: (954) 760-5383, Fax: (954) 760-5388, Email: hhess@BankAtlantic.com
Public Relations for BankAtlantic:
Boardroom Communications
Caren Berg
Phone: (954) 370-8999, Fax: (954) 370-8892, Email: caren@boardroompr.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. When used in this press release and in any documents incorporated by reference herein, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify certain of such forward-looking statements. Actual

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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; credit risks and loan losses, and the related sufficiency of the 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 BankAtlantic’s net interest margin; adverse conditions in the stock market, the public debt market and other capital markets and the impact of such conditions on our activities and the value of our assets; BankAtlantic’s seven-day banking initiative and other growth initiatives not being successful or producing results which do not justify their costs; the impact of periodic testing of goodwill and other intangible assets for impairment; achieving the benefits of the prepayment of the Federal Home Loan Bank advances; as well as the costs related to the correction of compliance deficiencies associated with the USA Patriot Act, anti-money laundering laws and the Bank Secrecy Act, and whether or to what extent monetary fines, restrictions on operations or other penalties relating to these compliance deficiencies will be imposed on the Company or the Bank by regulators or other federal agencies. Further, this press release contains forward-looking statements with respect to Ryan Beck & Co., which are subject to a number of risks and uncertainties including but not limited to the risks and uncertainties associated with its operations, products and services, changes in economic or regulatory policies, its ability to recruit and retain financial consultants, the volatility of the stock market and fixed income markets, as well as its revenue mix, the success of new lines of business and additional risks and uncertainties that are subject to change and may be outside of Ryan Beck’s control. 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. 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 Three Months Ended
			3/31/2005			12/31/2004			9/30/2004			6/30/2004			3/31/2004
Earnings (in thousands):
Net income (GAAP basis)		$		19,878			17,293			14,691			18,260			20,524
Operating net income	(note 1)	$		19,878			17,293			14,691			18,260			13,371
Average Common Shares Outstanding (in thousands):
Basic				60,072			59,827			59,687			59,344			59,257
Diluted				63,207			63,156			63,110			62,808			63,193
Key Performance Ratios (GAAP basis):
Basic earnings per share		$		0.33			0.29			0.25			0.31			0.35
Diluted earnings per share *		$		0.31			0.27			0.23			0.29			0.32
Return on average tangible assets	(note 2)	%		1.27			1.19			1.09			1.48			1.75
Return on average tangible equity	(note 2)	%		20.20			18.34			16.18			21.18			24.97
Key Performance Ratios (Operating basis):
Basic earnings per share		$		0.33			0.29			0.25			0.31			0.23
Diluted earnings per share *		$		0.31			0.27			0.23			0.29			0.21
Return on average tangible assets	(note 2)	%		1.27			1.19			1.09			1.48			1.14
Return on average tangible equity	(note 2)	%		20.20			18.34			16.18			21.18			16.27
* Diluted earnings per share calculation deducts (in thousands):
Subsidiaries stock options, if dilutive		$		(120	)		(51	)		(152	)		(273	)		(192	)
Average Balance Sheet Data (in millions):
Assets		$		6,355			5,877			5,478			5,023			4,792
Tangible assets	(note 2)	$		6,268			5,790			5,390			4,935			4,703
Loans		$		4,668			4,359			4,032			3,777			3,731
Investments		$		1,242			1,076			1,018			819			668
Deposits and escrows		$		3,557			3,371			3,283			3,205			3,065
Stockholders’ equity		$		480			468			452			436			423
Tangible stockholders’ equity	(note 2)	$		394			377			363			345			329

Notes:

(1)	Operating net income is defined as GAAP net income adjusted for revenue from a litigation settlement and costs associated with debt redemptions, net of tax.
(2)	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.
**	Operating net income is not prepared in accordance with GAAP and this non-GAAP financial measure should not be construed as being superior to GAAP.

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

(In thousands, except share data)	3/31/2005			12/31/2004			3/31/2004
ASSETS
Cash and due from banks	$	119,915			118,967			114,849
Short term investments		16,832			16,093			1,953
Securities available for sale (at fair value)		762,573			747,160			358,665
Securities owned (at fair value)		142,294			125,443			122,114
Investment securities and tax certificates (approximate fair value: $298,950, $306,963 and $139,075)		302,498			307,438			139,075
Loans receivable, net of allowance for loan losses of $43,042, $46,010 and $45,383		4,637,232			4,599,048			3,674,173
Federal Home Loan Bank stock, at cost which approximates fair value		80,600			78,619			30,340
Accrued interest receivable		38,864			35,982			26,781
Real estate held for development and sale		24,799			27,692			24,239
Investments and advances in unconsolidated subsidiaries		7,910			7,910			7,910
Office properties and equipment, net		132,438			129,790			96,628
Deferred tax asset, net		22,971			20,269			17,751
Goodwill		76,674			76,674			76,674
Core deposit intangible asset		9,597			10,270			11,546
Due from clearing agent		1,120			16,619			—
Other assets		42,034			38,803			47,785
Total assets	$	6,418,351			6,356,777			4,750,483
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Deposits
Demand	$	960,063			890,398			748,402
NOW		676,945			658,137			567,498
Savings		296,485			270,001			233,832
Money market		913,434			875,422			870,447
Certificates of deposit		796,928			763,244			723,256
Total deposits		3,643,855			3,457,202			3,143,435
Advances from FHLB		1,524,881			1,544,497			591,466
Securities sold under agreements to repurchase		217,463			296,643			118,465
Federal funds purchased		75,000			105,000			25,000
Subordinated debentures, notes and bonds payable		35,878			37,741			37,109
Junior subordinated debentures		263,266			263,266			263,266
Securities sold but not yet purchased		60,276			39,462			34,250
Due to clearing agent		—			—			18,328
Other liabilities		116,751			143,701			89,587
Total liabilities		5,937,370			5,887,512			4,320,906
Stockholders’ equity:
Preferred stock, $.01 par value, 10,000,000 shares authorized; none issued and outstanding		—			—			—
Class A common stock, $.01 par value, authorized 80,000,000 shares; issued and outstanding 55,665,968, 55,214,225 and 54,331,830 shares		556			552			543
Class B common stock, $.01 par value, authorized 45,000,000 shares; issued and outstanding 4,876,124, 4,876,124 and 4,876,124 shares		49			49			49
Additional paid-in capital		260,207			259,702			255,915
Unearned compensation — restricted stock grants		(957	)		(1,001	)		(1,134	)
Retained earnings		228,714			210,955			166,882
Total stockholders’ equity before accumulated other comprehensive income		488,569			470,257			422,255
Accumulated other comprehensive income (loss)		(7,588	)		(992	)		7,322
Total stockholders’ equity		480,981			469,265			429,577
Total liabilities and stockholders’ equity	$	6,418,351			6,356,777			4,750,483

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

	For The Three Months Ended
(in thousands)	3/31/2005			12/31/2004			9/30/2004			6/30/2004			3/31/2004
INTEREST INCOME:
Interest and fees on loans	$	66,355			60,088			52,661			48,034			48,936
Interest on securities available for sale		5,295			4,905			4,974			4,584			3,620
Interest on tax exempt securities		3,225			2,076			1,329			610			33
Interest and dividends on investments and securities owned		7,311			7,377			7,409			6,879			7,040
Total interest income		82,186			74,446			66,373			60,107			59,629
INTEREST EXPENSE:
Interest on deposits		8,295			7,534			7,060			6,788			6,973
Interest on advances from FHLB		13,674			11,458			9,364			7,769			9,098
Interest on short-term borrowed funds		2,099			1,356			953			632			250
Interest on long-term debt		5,672			5,112			5,034			4,912			4,827
Capitalized interest on real estate developments		(452	)		(390	)		(355	)		(346	)		(307	)
Total interest expense		29,288			25,070			22,056			19,755			20,841
NET INTEREST INCOME		52,898			49,376			44,317			40,352			38,788
Provision (recovery) for loan losses		(3,916	)		(4,004	)		1,717			(1,963	)		(859	)
NET INTEREST INCOME AFTER PROVISION		56,814			53,380			42,600			42,315			39,647
NON-INTEREST INCOME:
Service charges on deposits		12,989			13,637			13,493			13,028			11,277
Other service charges and fees		5,238			6,733			5,819			6,431			4,637
Broker/dealer revenue		51,999			51,787			51,792			61,925			62,445
Securities activities, net		102			3,653			2			3			72
Litigation settlement		—			—			—			—			22,840
Gain on sales of loans		110			152			86			116			129
Income from real estate operations		2,241			517			900			683			305
Income from unconsolidated subsidiaries		131			126			123			118			118
Other		5,860			3,300			2,959			3,041			2,542
Total non-interest income		78,670			79,905			75,174			85,345			104,365
NON-INTEREST EXPENSES:
Employee compensation and benefits		65,795			65,354			58,992			63,538			67,180
Occupancy and equipment		13,237			14,753			11,782			11,236			10,375
Advertising and promotion		6,298			5,955			4,757			5,630			4,694
Professional fees		3,126			6,398			4,356			2,610			2,737
Communications		3,205			3,301			3,182			2,916			3,128
Floor broker and clearing fees		2,368			2,452			2,143			2,438			2,802
Cost associated with debt redemption		—			—			—			—			11,741
Other		10,756			9,307			9,405			9,534			9,357
Total non-interest expenses		104,785			107,520			94,617			97,902			112,014
Income before income taxes		30,699			25,765			23,157			29,758			31,998
Provision for income taxes		10,821			8,472			8,466			11,498			11,474
GAAP net income	$	19,878			17,293			14,691			18,260			20,524
Reconciliation of Operating and GAAP Net Income
GAAP net income	$	19,878			17,293			14,691			18,260			20,524
Costs associated with debt redemption		—			—			—			—			7,632
Litigation settlement		—			—			—			—			(14,785	)
Operating net income (note 1)	$	19,878			17,293			14,691			18,260			13,371

3

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

	For the three months ended
(in thousands except percentages and per share data)	3/31/2005			12/31/2004		9/30/2004		6/30/2004		3/31/2004
Loans:
Residential real estate	$	2,085,473			1,812,018		1,583,353		1,386,482		1,326,061
Commercial real estate		1,764,927			1,743,952		1,670,928		1,650,763		1,701,012
Consumer		487,746			467,716		438,205		403,824		374,222
Lease financing		6,242			8,219		9,738		11,526		13,642
Commercial business		128,372			136,391		142,022		142,686		141,955
Small business		195,733			190,849		187,536		182,171		173,890
Total Loans		4,668,493			4,359,145		4,031,782		3,777,452		3,730,782
Investments — taxable		877,003			823,903		845,286		745,854		664,907
Investments — tax exempt		364,824			251,699		172,328		72,958		3,362
Total interest earning assets		5,910,320			5,434,747		5,049,396		4,596,264		4,399,051
Goodwill and core deposit intangibles		86,791			87,164		87,591		88,034		88,448
Other non-interest earning assets		358,024			354,815		340,979		338,507		304,254
Total assets	$	6,355,135			5,876,726		5,477,966		5,022,805		4,791,753
Tangible assets (note 2)	$	6,268,344			5,789,562		5,390,375		4,934,771		4,703,305
Deposits:
Demand deposits	$	912,897			845,797		791,639		754,975		664,410
Savings		281,512			262,549		250,286		242,506		220,005
NOW		664,313			622,308		590,787		586,259		543,619
Money markt		921,382			903,602		931,596		912,065		866,767
Certificates of deposit		777,353			736,704		718,826		709,523		769,949
Total deposits		3,557,457			3,370,960		3,283,134		3,205,328		3,064,750
Short-term borrowed funds		352,911			266,840		283,011		269,423		128,130
FHLB advances		1,536,434			1,339,051		1,036,651		696,661		760,973
Long-term debt		300,551			299,741		299,596		299,931		299,878
Total borrowings		2,189,896			1,905,632		1,619,258		1,266,015		1,188,981
Other liabilities		128,233			132,047		123,750		115,610		114,540
Total liabilities		5,875,586			5,408,639		5,026,142		4,586,953		4,368,271
Stockholders’ equity		479,549			468,087		451,824		435,852		423,482
Total liabilities and stockholders’ equity	$	6,355,135			5,876,726		5,477,966		5,022,805		4,791,753
Other comprehensive income (loss) in stockholders’ equity	$	(949	)		3,656		1,065		2,986		6,320
Tangible stockholders’ equity (note 2)	$	393,707			377,267		363,168		344,832		328,714
Period End
Total loans, net	$	4,637,232			4,599,048		4,176,571		3,899,099		3,674,173
Total assets		6,418,351			6,356,777		5,678,612		5,428,378		4,750,483
Total stockholders’ equity		480,981			469,265		459,489		440,334		429,577
Common shares outstanding		60,542,092			60,090,349		59,874,084		59,779,407		59,207,954
Cash dividends		2,118,973			2,103,164		2,095,600		1,972,775		1,953,863
Common stock cash dividends per share		0.035			0.035		0.035		0.033		0.033
Closing stock price		17.40			19.90		18.32		18.45		16.96
High stock price for the quarter		20.00			20.08		19.25		18.53		19.00
Low stock price for the quarter		17.02			16.06		17.40		14.37		13.70
Book value per share		7.94			7.81		7.67		7.37		7.26

4

Bank Operations Business Segment
Condensed Statements of Operations (Unaudited)

	For the Three Months Ended
(In thousands)	3/31/2005			12/31/2004			9/30/2004		6/30/2004			3/31/2004
Net interest income	$	54,345			50,339			45,380		41,344			39,795
Provision (recovery) for loan losses		(3,916	)		(4,004	)		1,717		(1,963	)		(859	)
Net Interest income after provision for loan losses		58,261			54,343			43,663		43,307			40,654
Non-interest income
Service charges on deposits		12,989			13,637			13,493		13,028			11,277
Other service charges and fees		5,238			6,733			5,819		6,431			4,637
Securities gains (losses)		7			40			—		—			(3	)
Gain on sales of loans		110			152			86		116			129
Income from real estate operations		2,241			517			900		683			305
Other non-interest income		2,956			1,924			2,034		1,911			1,875
Total non-interest income		23,541			23,003			22,332		22,169			18,220
Non-interest expense
Employee compensation and benefits		26,398			25,136			23,128		22,498			22,392
Occupancy and equipment		9,117			9,658			8,100		7,809			7,146
Advertising		5,168			5,087			3,301		4,161			3,463
Professional fees		1,666			4,366			3,312		807			1,258
Cost associated with debt redemption		—			—			—		—			11,741
Other		7,915			7,417			7,689		7,658			7,495
Total non-interest expense		50,264			51,664			45,530		42,933			53,495
Income from bank operations business segment before income taxes		31,538			25,682			20,465		22,543			5,379
Provision for income taxes		10,677			8,870			6,866		8,134			1,659
Net income from bank operations business segment	$	20,861			16,812			13,599		14,409			3,720
Reconciliation of Operating and business segment net income
Business segment income	$	20,861			16,812			13,599		14,409			3,720
Cost associated with debt redemption		—			—			—		—			7,632
Operating net income	$	20,861			16,812			13,599		14,409			11,352

5

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

	For the Three Months Ended
(in thousands except percentages
and per share data)	3/31/2005		12/31/2004		9/30/2004		6/30/2004		3/31/2004
Statistics:
Average earning assets	$	5,696,192		5,225,840		4,843,628		4,422,181		4,220,559
Average interest bearing liabilities	$	4,575,247		4,172,665		3,851,388		3,483,903		3,347,890
Average tangible assets	$	5,979,211		5,492,505		5,090,496		4,673,936		4,460,627
Average tangible equity	$	448,667		435,787		425,437		409,215		410,062
Tax equivalent:
Yield on earning assets	%	5.64		5.50		5.25		5.16		5.34
Cost of interest-bearing liabilities	%	2.19		1.99		1.85		1.82		2.02
Interest spread	%	3.45		3.51		3.40		3.34		3.32
Net interest margin	%	3.88		3.91		3.78		3.73		3.73
GAAP:
Efficiency ratio	%	64.54		70.44		67.24		67.60		92.21
Return on average tangible assets	%	1.40		1.22		1.07		1.23		0.33
Return on average tangible equity	%	18.60		15.43		12.79		14.08		3.63
Operating (1):
Efficiency ratio	%	64.54		70.44		67.24		67.60		71.97
Return on average tangible assets	%	1.40		1.22		1.07		1.23		1.02
Return on average tangible equity	%	18.60		15.43		12.79		14.08		11.07

     (1) Ratios have been adjusted to exclude costs associated with debt redemptions.

Condensed Statements of Financial Condition (Unaudited)

	As of
(In thousands)	3/31/2005		12/31/2004		9/30/2004		6/30/2004		3/31/2004
ASSETS
Loans receivable	$	4,616,846		4,554,952		4,132,133		3,852,549		3,621,787
Held to maturity securities		376,298		378,912		215,420		236,400		167,615
Available for sale securities		695,154		700,642		648,043		639,581		338,639
Goodwill		70,489		70,489		70,489		70,489		70,489
Core deposit intangible asset		9,597		10,270		10,695		11,121		11,546
Other assets		335,215		329,723		308,894		312,583		284,703
Total assets	$	6,103,599		6,044,988		5,385,674		5,122,723		4,494,779
LIABILITIES AND STOCKHOLDER’S EQUITY
Deposits
Demand	$	960,152		890,919		782,677		787,945		748,533
NOW		676,945		658,137		590,051		584,658		567,498
Savings		296,485		270,001		252,408		251,218		233,832
Total low cost deposits		1,933,582		1,819,057		1,625,136		1,623,821		1,549,863
Money market		913,434		875,422		893,315		906,865		870,447
Certificate of deposits		796,928		763,244		724,601		719,545		723,256
Total deposits		3,643,944		3,457,723		3,243,052		3,250,231		3,143,566
Advances from Federal Home Loan Bank		1,524,881		1,544,497		1,249,112		883,727		591,466
Short term borrowings		298,816		407,841		293,562		401,459		191,469
Long term debt		35,878		37,641		36,680		36,295		36,582
Other liabilities		73,191		80,410		52,749		55,020		42,243
Total liabilities		5,576,710		5,528,112		4,875,155		4,626,732		4,005,326
Stockholder’s equity		526,889		516,876		510,519		495,991		489,453
Total liabilities and stockholder’s equity	$	6,103,599		6,044,988		5,385,674		5,122,723		4,494,779

6

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

	For the Three Months Ended
	March 31, 2005								March 31, 2004
(in thousands)	Average		Revenue/			Yield/			Average		Revenue/			Yield/
	Balance		Expense			Rate			Balance		Expense			Rate
Loans:
Residential real estate	$	2,085,473		25,509			4.89	%	$	1,326,061		15,941			4.81	%
Commercial real estate		1,759,747		28,323			6.44			1,689,962		23,694			5.61
Consumer		487,746		6,776			5.56			374,222		3,900			4.17
Lease financing		6,242		151			9.68			13,642		382			11.20
Commercial business		94,283		1,640			6.96			98,959		1,500			6.06
Small business		195,733		3,491			7.13			173,891		3,085			7.10
Total loans		4,629,224		65,890			5.69			3,676,737		48,502			5.28
Investments — tax exempt		334,029		4,829	(1)		5.78			3,362		51	(1)		6.04
Investments — taxable		732,939		9,555			5.21			540,460		7,808			5.78
Total interest earning assets		5,696,192		80,274			5.64	%		4,220,559		56,361			5.34	%
Goodwill and core deposit intangibles		80,375								82,263
Other non-interest earning assets		283,019								240,068
Total Assets	$	6,059,586							$	4,542,890
Deposits:
Savings	$	281,512		189			0.27	%	$	220,005		144			0.26	%
NOW		664,313		602			0.37			543,619		491			0.36
Money market		921,382		2,704			1.19			866,767		1,876			0.87
Certificate of deposit		777,353		4,800			2.50			769,949		4,462			2.33
Total interest bearing deposits		2,644,560		8,295			1.27			2,400,340		6,973			1.17
Short-term borrowed funds		357,047		2,122			2.41			150,735		302			0.81
Advances from FHLB		1,536,434		13,674			3.61			760,973		9,098			4.81
Long-term debt		37,206		600			6.54			35,842		482			5.41
Total interest bearing liabilities		4,575,247		24,691			2.19			3,347,890		16,855			2.02
Demand deposits		913,717								664,796
Non-interest bearing other liabilities		44,216								34,025
Total Liabilities		5,533,180								4,046,711
Stockholder’s equity		526,406								496,179
Total liabilities and stockholder’s equity	$	6,059,586							$	4,542,890
Net tax equivalent interest income/ net interest spread			$	55,583			3.45	%			$	39,506			3.32	%
Tax equivalent adjustment				(1,690	)							(18	)
Capitalized interest from real estate operations				452								307
Net interest income				54,345								39,795
Margin
Interest income/interest earning assets							5.64	%							5.34	%
Interest expense/interest earning assets							1.76								1.61
Net interest margin (tax equivalent)							3.88	%							3.73	%

(1) The tax equivalent basis is computed using a 35% tax rate.

7

Bank Operations Business Segment
Allowance for Loan Loss and Credit Quality

(in thousands)	For the Three Months Ended
	3/31/2005			12/31/2004			9/30/2004			6/30/2004			3/31/2004
Allowance for Loan Losses
Beginning balance	$	46,010			48,778			46,737			45,383			45,595
Charge-offs:
Residential real estate		(198	)		(76	)		(151	)		(124	)		(231	)
Commercial real estate		—			(645	)		—			—			—
Commercial business		(286	)		(762	)		(429	)		(80	)		(344	)
Consumer		(106	)		(71	)		(174	)		(285	)		(248	)
Small business		(128	)		(233	)		(144	)		(35	)		(44	)
Other		—			—			—			—			—
Total charge-offs		(718	)		(1,787	)		(898	)		(524	)		(867	)
Recoveries:
Residential real estate		1			190			53			217			26
Commercial real estate		—			2,000			1			2,050			1
Commercial business		116			259			454			828			559
Consumer		176			266			167			240			338
Small business		185			231			378			429			392
Other		1,188			77			169			77			198
Total recoveries		1,666			3,023			1,222			3,841			1,514
Net recoveries		948			1,236			324			3,317			647
Provision (recovery) for loan losses		(3,916	)		(4,004	)		1,717			(1,963	)		(859	)
Ending balance	$	43,042			46,010			48,778			46,737			45,383
Annualized net (recoveries) to average loans	%	(0.08	)		(0.11	)		(0.03	)		(0.35	)		(0.07	)

	As of
	3/31/2005		12/31/2004		9/30/2004		6/30/2004		3/31/2004
Credit Quality
Nonaccrual loans	$	6,504		7,903		11,352		12,711		11,724
Nonaccrual tax certificates		417		381		448		586		565
Real estate owned		1,438		692		1,059		1,321		1,667
Other repossessed assets		0		0		0		0		0
Total nonperforming assets	$	8,359		8,976		12,859		14,618		13,956
Nonperforming assets to total loans and other assets	%	0.17		0.19		0.30		0.36		0.37
Allowance for loan losses to total loans	%	0.92		1.00		1.17		1.20		1.24

8

Ryan Beck & Co., Inc. Business Segment
Consolidated Statements of Operations and Statistics — Unaudited

	For the Three Months Ended
(in thousands)	3/31/2005		12/31/2004		9/30/2004		6/30/2004		3/31/2004
Revenues
Principal transactions	$	19,802		24,925		19,393		21,654		24,443
Investment banking		11,882		3,753		13,835		18,026		12,631
Commissions		20,315		23,109		18,564		22,245		25,371
Interest, dividends and other		5,634		4,114		3,727		3,949		3,416
Total operating revenues		57,633		55,901		55,519		65,874		65,861
Operating expenses
Compensation, benefits		38,437		39,439		35,090		40,297		44,042
Professional fees		1,417		2,044		1,063		1,330		1,045
Communications		3,205		3,301		3,182		2,916		3,128
Occupancy and equipment		4,118		5,095		3,680		3,426		3,228
Floor broker and clearing fees		2,368		2,452		2,143		2,438		2,802
Interest and other		3,522		2,318		3,179		3,292		3,054
Total operating expenses		53,067		54,649		48,337		53,699		57,299
Income from Ryan Beck business segment - before income taxes		4,566		1,252		7,182		12,175		8,562
Provision for income taxes		2,036		11		3,082		5,161		3,434
Net income from Ryan Beck business segment	$	2,530		1,241		4,100		7,014		5,128
Statistics:
Average tangible assets	$	171,833		178,967		182,226		166,954		160,085
Average tangible equity		85,248		83,242		81,693		76,465		72,484
GAAP return on average tangible assets	%	5.89		2.77		9.00		16.80		12.81
GAAP return on average tangible equity		11.87		5.96		20.08		36.69		28.30
Compensation as a percent of revenues		66.69		70.55		63.20		61.17		66.87
Commissions to total revenues		35.25		41.34		33.44		33.77		38.52
Principal transactions to total revenues		34.36		44.59		34.93		32.87		37.11
Investment banking revenue to total revenues		20.62		6.71		24.92		27.36		19.18

Condensed Statements of Financial Condition — Unaudited

	As of
(in thousands)	3/31/2005		12/31/2004		9/30/2004		6/30/2004		3/31/2004
ASSETS
Cash and cash equivalents	$	6,312		3,674		4,225		4,000		4,888
Securities		142,294		125,443		111,944		120,953		122,114
Notes receivable — GMS		4,386		6,096		6,438		8,551		10,261
Property and equipment, net		7,020		7,472		7,748		6,762		4,749
Goodwill		6,184		6,184		6,184		6,184		6,184
Due from clearing agent		1,120		16,619		14,478		16,048		—
Other assets		29,426		28,129		24,441		25,809		28,051
Total assets	$	196,742		193,617		175,458		188,307		176,247
LIABILITIES AND STOCKHOLDER’S EQUITY
Liabilities:
Securities sold not yet purchased	$	60,276		39,462		31,760		51,321		34,250
Note payable		—		—		—		—		427
Due to clearing agent		—		—		—		—		18,328
Other liabilities		44,246		63,974		54,757		52,145		45,559
Total liabilities		104,522		103,436		86,517		103,466		98,564
Stockholder’s equity		92,220		90,181		88,941		84,841		77,683
Total liabilities and stockholder’s equity	$	196,742		193,617		175,458		188,307		176,247

9

Parent Company Business Segment Activities
Condensed Statements of Operations — Unaudited

	For the Three Months Ended
(in thousands)	3/31/2005			12/31/2004			9/30/2004			6/30/2004			3/31/2004
Net interest (expense)	$	(3,892	)		(3,593	)		(3,683	)		(3,583	)		(3,592	)
Income from unconsolidated subsidiaries		131			126			123			118			118
Gains on sales of securities		95			3,613			2			3			75
Litigation settlement		—			—			—			—			22,840
Employee compensation and benefits		(960	)		(778	)		(774	)		(743	)		(747	)
Cost associated with debt redemption		—			—			—			—			—
Other income (expense)		(779	)		(536	)		(160	)		(755	)		(637	)
Income (loss) from parent company activities before income taxes		(5,405	)		(1,168	)		(4,492	)		(4,960	)		18,057
Provision (Benefit) for income taxes		(1,892	)		(409	)		(1,483	)		(1,797	)		6,381
Net income (loss) from parent company business segment	$	(3,513	)		(759	)		(3,009	)		(3,163	)		11,676
Reconciliation of Operating and business segment income
Business segment net income	$	(3,513	)		(759	)		(3,009	)		(3,163	)		11,676
Litigation settlement		—			—			—			—			(14,785	)
Operating loss	$	(3,513	)		(759	)		(3,009	)		(3,163	)		(3,109	)

Condensed Statements of Financial Condition — Unaudited

	As of
(in thousands)	3/31/2005		12/31/2004		9/30/2004		6/30/2004		3/31/2004
ASSETS
Cash	$	8,032		9,131		10,643		10,850		48,841
Securities		85,711		64,656		62,324		61,812		21,826
Notes receivable from related parties		16,000		38,000		38,000		38,000		42,125
Investment in subsidiaries		619,111		607,061		599,462		580,834		567,139
Investment in unconsolidated subsidiaries		7,910		7,910		7,912		7,910		7,910
Other assets		15,452		8,918		7,937		7,154		7,821
Total assets	$	752,216		735,676		726,278		706,560		695,662
LIABILITIES AND STOCKHOLDERS’ EQUITY
Subordinated debentures and notes payable	$	263,266		263,366		263,366		263,366		263,366
Other liabilities		7,969		3,045		3,423		2,860		2,719
Total liabilities		271,235		266,411		266,789		266,226		266,085
Stockholders’ equity		480,981		469,265		459,489		440,334		429,577
Total liabilities and stockholders’ equity	$	752,216		735,676		726,278		706,560		695,662

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