Exhibit 99.1

BankAtlantic Bancorp Reports
Financial Results for the Second Quarter 2006

     FORT LAUDERDALE, Florida — July 19, 2006 — BankAtlantic Bancorp, Inc. (NYSE: BBX) today announced financial results for the second quarter 2006. For the three-month period ending June 30, 2006, net income was $8.4 million, or $0.13 per diluted share, compared to $24.5 million, or $0.38 per diluted share, reported in the second quarter 2005. Year-to-date, net income was $15.1 million, or $0.24 per diluted share, compared to $44.4 million, or $0.69 per diluted share, for the first six months of 2005.

     Alan B. Levan, Chairman and Chief Executive Officer of BankAtlantic Bancorp commented, “In BankAtlantic, the second quarter’s results are consistent with our long term strategy of growing our banking franchise, and with our focus on long term returns rather than short-term earnings. The quarter’s performance also reflects the impact of a $2.1 million loss at Ryan Beck, discussed in detail later in this release, compared to a $13.0 million profit for the corresponding 2005 quarter.

     “As we have previously discussed, BankAtlantic’s strategy includes an aggressive marketing program, new store expansion program, and extended hours ‘convenience model.’ Although these initiatives involve incremental costs that result in lower earnings than those of prior periods, we continue to believe these costs will translate into enhanced long term profitability and shareholder value.

     “During the second quarter, demand deposits rose to a record level of 29.2% of total deposits and low cost deposits (demand, savings, and NOW accounts) grew to a record 58.4% of total deposits. In spite of the continued general national declines in these deposits (which have steadily declined since June, 2005), we believe BankAtlantic’s growth in new low cost deposits is among the highest in the industry and continues to outperform the national trend by approximately 15%.

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     “Earning assets were essentially unchanged for the second quarter compared to the prior quarter, consistent with our posture in response to interest rates and a flat yield curve, and as discussed below, our margin has continued to improve. Asset quality has remained high.

     “Earlier during the second quarter, we announced that Ryan Beck Holdings, Inc., the parent company of Ryan Beck & Co., Inc., had filed a registration statement with the Securities and Exchange Commission for an initial public offering of shares of Ryan Beck Holdings, Inc.’s Class A Common Stock. The purpose of the proposed offering is to monetize a portion of BankAtlantic Bancorp’s investment in Ryan Beck through payment to BankAtlantic Bancorp of a special dividend funded by a portion of the net proceeds. While we remain intent on monetizing some portion of our investment in Ryan Beck, we have postponed the previously announced initial public offering due to a combination of current equity market conditions and Ryan Beck’s weak recent financial performance. At this point, we anticipate proceeding with the offering when market conditions permit and results at Ryan Beck improve.

     “As part of our on-going stock repurchase program, we bought 250,000 shares of our stock in market transactions during the quarter.

Commentary on Business Segment Operations:

BankAtlantic:

     “BankAtlantic’s ‘Florida’s Most Convenient Bank’ initiatives of providing convenience and service continue to deliver good results. During the second quarter, BankAtlantic opened 58,000 new low cost deposit accounts, an increase of 19% over the number of accounts opened in the corresponding 2005 quarter. These new accounts resulted in approximately $157 million in new low cost deposit balances. Year-to-date, BankAtlantic opened approximately 135,000 new low cost deposit accounts, a 29% increase, with corresponding new balances of approximately $309 million.

     “At quarter end, ‘total bank’ and ‘same store’ low cost deposit balances increased 11.8% and 9.6%, respectively, vs. the second quarter 2005, representing a $236 million increase in low cost deposit balances over the second quarter 2005. While these results are lower than recent growth rates at BankAtlantic, we believe that growth of new accounts has been significantly offset by declines in average balances in our ‘legacy’ customer base. We believe the decline in

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balances in legacy accounts results from external issues, including the impact of higher interest rates, competition from alternative investment products, significantly increased energy prices, and other similar factors.

     “For the second quarter 2006, net income for BankAtlantic was $12.8 million, down from $14.8 million in the comparable 2005 period. Net interest income for the second quarter 2006 was $55.3 million, or $0.8 million lower than the 2005 quarter, due to lower earning assets, which more than offset an improved margin. We have continued our strategy of using the growth in low cost deposits to reduce borrowings, and as a result, the ratio of borrowings to total deposits and borrowings at quarter end improved to 29%, down from 38% in the second quarter of 2005, although up slightly from the immediately preceding quarter. Our longer term expectation is for this ratio to trend toward the 10-15% range.

     “Non-interest income for the second quarter was $35.0 million, 40% greater than the comparable 2005 period, primarily driven by growth in deposit service charges and other fees. Non-interest expense of $72.2 million was $13.9 million, or 24% greater than the corresponding quarter of 2005. The growth in expenses from the prior year was largely the result of an $8.9 million (32%) increase in personnel costs, and a $3.4 million (34%) increase in occupancy and equipment expense, again reflecting our growth initiatives and store expansion strategy. Advertising expense increased $1.2 million (19%) from the prior year, reflecting our aggressive program to attract low cost deposits.

     “The tax equivalent net interest margin was 4.17%, improved from 4.11% in the first quarter of 2006 and 3.90% in the corresponding quarter of 2005. (All references to net interest margin exclude loan participations sold previously recognized as secured borrowings.) We believe the margin improvement is particularly significant in light of the continued flatness of the yield curve. Although further margin improvement will largely depend on the future pattern of interest rates, we continue to believe our high level of low cost deposits and the expected growth in those deposits should result in a gradual further improvement in BankAtlantic’s margin.

     “Credit quality remained good during the second quarter, with the ratio of non-performing loans to total loans decreasing from 0.14% three months ago to 0.12% at June 30, 2006. The ratio of non-performing assets to total loans plus other real estate also declined

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modestly during the same period to 0.17%. The allowance for loan losses (ALL) was unchanged from the March 2006 quarter, remaining at $42 million.

     “During the quarter BankAtlantic announced its store expansion program for the next two years, including the anticipated opening of 20 new stores in 2006 and 27 new stores in 2007. To date in 2006, BankAtlantic has opened five new stores. Each of the new stores opened in 2006 has met or exceeded our expectations for deposit growth, and we are encouraged with the progress in incremental contribution by these stores.

Ryan Beck & Co.:

     “During the second quarter of 2006, Ryan Beck & Co. recorded a net loss of $2.1 million compared to a profit of $13.0 million in the comparable quarter of 2005. On a per share basis, this is equivalent to a $0.03 per diluted share loss, compared to a per diluted share contribution of $0.21 in the 2005 quarter. We believe the loss was largely due to continued weakness in its capital markets and investment banking activities, as well as the compensation costs and direct expenses associated with the expansion of those activities, including expansion of municipal finance and trading areas, principally in late 2005. Additionally, the 2005 quarter included one very large investment banking transaction which contributed significant investment banking fees and capital markets commissions to the quarter’s performance. We anticipate an improvement in the Ryan Beck performance in the second half of 2006, as Ryan Beck’s 2005 expansion initiatives are expected to produce better results.

     “Retail brokerage activity, which involves providing wealth management services to the mass affluent market, had second quarter revenue of $36.2 million compared to $35.2 million for the second quarter of 2005. Total client assets have risen to a record high $19 billion. During the past 12 months, this area successfully recruited 56 experienced Financial Consultants.

     “Revenue from capital markets activities was $14.5 million compared to $20.4 million for the second quarter of 2005. This decrease was due to the large investment banking transaction in 2005, and excluding that transaction from 2005 results, capital markets had higher revenue in 2006.

     “Investment banking activities resulted in second quarter revenue of $3.4 million compared to $30.3 million for the second quarter 2005. This decrease resulted principally from

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the large 2005 underwriting transaction along with decreased activity in Ryan Beck’s principal markets.”

Financial Highlights:

Second Quarter, 2006 Compared to Second Quarter, 2005

BankAtlantic Bancorp — consolidated:

• Net income of $8.4 million vs. $24.5 million

• Diluted earnings per share of $0.13 vs. $0.38

• Return on average tangible equity was 7.47%

• Book value per share was $8.51

BankAtlantic:

• Business segment net income was $12.8 million vs. $14.8 million, a decrease of 14%

• 58,000 new low cost deposit accounts opened, an increase of 19% over accounts opened in the corresponding 2005 quarter, with related new balances of $157 million

• Return on average tangible assets was 0.88%

• Return on average tangible equity was 10.38%

• Tax equivalent net interest margin increased to 4.17% vs. 3.79%

• Non-interest income was $35.0 million vs. $25.0 million, an increase of 40%

• Non-interest expense grew to $72.2 million vs. $58.3 million, an increase of 24%

Ryan Beck & Co.:

• Business segment net loss was ($2.1) million vs. net income of $13.0 million, a decrease of 116%

• Return on average tangible equity was (8.55%)

• Total revenues were $55.4 million vs. $87.4 million (the 2005 quarter included one very large public offering in which Ryan Beck was the joint lead manager)

• Retail brokerage revenue was $36.2 million vs. $35.2 million

• Capital markets revenue was $14.5 million vs. $20.4 million

• Investment banking revenue was $3.4 million vs. $30.3 million

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Year to Date 2006 Compared to Year to Date 2005

BankAtlantic Bancorp — consolidated:

• Net income was $15.1 million vs. $44.4 million, a decrease of 66%

• Earnings per share of $0.24 vs. $0.69, a decrease of 65%

• Return on average tangible equity was 6.77%

BankAtlantic:

• Business segment net income was $23.2 million vs. $35.6 million, a decrease of 35%

• 135,000 new low cost deposit accounts opened, an increase of 29% over new accounts opened in the corresponding 2005 period, with related new balances of $309 million

• Return on average tangible assets was 0.79%

• Return on average tangible equity was 9.50%

• Tax equivalent net interest margin increased to 4.09% vs. 3.78%

• Non-interest income was $60.4 million (excluding gains associated with debt redemption) vs. $48.5 million, an increase of 25%

• Non-interest expense increased to $139.6 million vs. $108.6 million, an increase of 29%

Ryan Beck & Co.:

• Business segment net loss was ($3.6) million vs. net income of $15.6 million

• Return on average tangible equity was (7.42%)

• Total operating revenues decreased to $114.2 million vs. $145.0 million (the 2005 quarter included one very large public offering in which Ryan Beck was the joint lead manager)

• Retail brokerage revenue was $75.7 million vs. $74.5 million

• Capital markets revenue was $28.2 million vs. $27.7 million

• Investment banking revenue was $6.3 million vs. $40.7 million

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BankAtlantic Bancorp will host an investor and media teleconference call and webcast on Thursday, July 20, 2006, 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 2645022.

     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, August 18, 2006. 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 2645022.

Webcast Information:

     Alternatively, individuals may listen to the live and/or archived webcast of the teleconference call. To listen to the webcast, visit www.BankAtlanticBancorp.com, access the “Investor Relations” section and click on the “Webcast” navigation link, or go directly to http://www.visualwebcaster.com/event.asp?id=34592. The archive of the teleconference call will be available through 5:00 p.m. Eastern Time, Friday, August 18, 2006.

     BankAtlantic Bancorp’s second quarter, 2006 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), will be available on its website at:

www.BankAtlanticBancorp.com.

• To view the 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.

     Copies of BankAtlantic Bancorp’s second quarter, 2006 earnings results press release and financial summary, and the Supplemental Financials will also be made available upon request via

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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 and its online banking division — BankAtlantic.com. BankAtlantic has 81 stores and operates approximately 250 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 43 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 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 Group, 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:
Leo Hinkley,
Senior Vice President, Investor Relations
Email: InvestorRelations@BankAtlanticBancorp.com

Donna Rouzeau,
Assistant Vice President, Investor Relations & Corporate Communications
Email: CorpComm@BankAtlanticBancorp.com

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Phone: (954) 940-5300, Fax: (954) 940-5320
Mailing Address: BankAtlantic Bancorp, Investor Relations
2100 West Cypress Creek Road, Fort Lauderdale, FL 33309

BankAtlantic, “Florida’s Most Convenient Bank,” Contact Info: Public Relations:
Hattie Hess, Vice President, Public Relations
Telephone: (954) 940-6383, Fax: (954) 940-6310
Email: hhess@BankAtlantic.com
Public Relations for BankAtlantic:
Boardroom Communications
Caren Berg
Phone: (954) 370-8999, Fax: (954) 370-8892
Email: caren@boardroompr.com

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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, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify certain of such forward-looking statements. 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; 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 of changes in the commercial real estate market in our trade area; changes in interest rates and the effects of, and changes in, trade, monetary and fiscal policies and laws including their impact on the 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 initiatives, new store expansion program, and other growth, marketing or advertising initiatives not resulting in continued growth of low cost deposits or producing results which justify their costs; successfully opening the anticipated number of new stores in 2006 and 2007 and achieving growth and profitability at the stores; and the impact of periodic testing of goodwill and other intangible assets for impairment. Past performance, actual or estimated new account openings and growth rate may not be indicative of future results. 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, including that the expansion of its municipal finance, investment banking and capital markets areas, including the associated increased headcount, will produce results which justify the increased expenses; and additional risks and uncertainties that are subject to change and may be outside of Ryan Beck’s control. Moreover, this press release also contains forward-looking statements with respect to the pursuit of a financial transaction regarding the Company’s investment in Ryan Beck, which are subject to a number of risks and uncertainties including but not limited to the fact that a financial transaction may not be consummated when anticipated, if at all, or may be consummated on terms different than those currently contemplated. 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													For the Six Months Ended
		6/30/2006		3/31/2006		12/31/2005			9/30/2005			6/30/2005			6/30/2006		6/30/2005
Earnings (in thousands):
Net income (loss) (GAAP basis)		$	8,412		6,712		(1,493	)		16,260			24,537			15,124		44,415
Operating net income **	(note 1)	$	8,374		6,704		8,507			16,260			26,946			15,078		46,824
Average Common Shares Outstanding (in thousands):
Basic			61,324		61,005		60,618			60,555			60,453			61,166		60,263
Diluted			62,820		62,761		62,898			63,193			63,161			62,792		63,176
Key Performance Ratios (GAAP basis):
Basic earnings (loss) per share		$	0.14		0.11		(0.03	)		0.27			0.41			0.25		0.74
Diluted earnings (loss) per share *		$	0.13		0.11		(0.03	)		0.26			0.38			0.24		0.69
Return on average tangible assets	(note 2)	%	0.54		0.43		(0.09	)		0.98			1.48			0.48		1.36
Return on average tangible equity	(note 2)	%	7.47		6.06		(1.32	)		15.05			23.98			6.77		22.12
Key Performance Ratios (Operating basis):
Basic earnings per share		$	0.14		0.11		0.14			0.27			0.45			0.25		0.78
Diluted earnings per share *		$	0.13		0.11		0.13			0.26			0.42			0.24		0.73
Return on average tangible assets	(note 2)	%	0.54		0.43		0.53			0.98			1.62			0.48		1.43
Return on average tangible equity	(note 2)	%	7.43		6.05		7.52			15.05			26.33			6.75		23.32
* Diluted earnings per share calculation deducts (in thousands):
subsidiaries stock options, if dilutive		$	—		—		(28	)		(21	)		(665	)		—		(785	)
Average Balance Sheet Data (in millions):
Assets		$	6,272		6,388		6,463			6,692			6,729			6,330		6,629
Tangible assets	(note 2)	$	6,188		6,304		6,378			6,607			6,643			6,245		6,542
Loans excluding certain loan participations sold	(note 3)	$	4,482		4,488		4,550			4,726			4,802			4,610		4,567
Loan participations sold	(note 3)	$	—		125		134			148			165			62		168
Investments		$	1,258		1,259		1,263			1,322			1,306			1,259		1,274
Deposits and escrows		$	3,849		3,831		3,704			3,655			3,658			3,840		3,608
Stockholders’ equity		$	526		522		533			516			490			524		485
Tangible stockholders’ equity	(note 2)	$	451		443		453			432			409			447		402

Notes:

(1)	Operating net income is defined as GAAP net income adjusted for gains and costs associated with debt redemptions, an impairment charge relating to BankAtlantic’s headquarter facility and a reserve for a compliance matter.
(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.
(3)	Loan participations sold accounted for as secured borrowings.
**	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)	6/30/2006			12/31/2005			6/30/2005
ASSETS
Cash and due from banks	$	163,394			167,032			159,173
Short term investments		1,263			3,229			5,783
Securities available for sale (at fair value)		662,304			674,544			749,188
Securities owned (at fair value)		174,657			180,292			109,095
Investment securities and tax certificates (approximate fair value: $411,117, $364,122 and $403,951)		415,127			364,444			402,430
Loans receivable, net of allowance for loan losses of $42,012, $41,192 and $43,650		4,484,764			4,624,772			4,968,904
Federal Home Loan Bank stock, at cost which approximates fair value		62,667			69,931			88,362
Accrued interest receivable		42,655			41,490			41,270
Real estate held for development and sale		23,585			21,177			23,982
Investments and advances to unconsolidated subsidiaries		11,996			12,464			7,910
Office properties and equipment, net		187,283			154,120			135,012
Deferred tax asset, net		35,235			29,615			22,636
Goodwill		76,674			76,674			76,674
Core deposit intangible asset		7,608			8,395			9,197
Due from clearing agent		3,963			—			22,091
Other assets		49,182			43,232			61,344
Total assets	$	6,402,357			6,471,411			6,883,051
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Deposits
Demand	$	1,119,604			1,019,949			1,039,611
NOW		747,437			755,708			660,633
Savings		372,212			313,889			302,677
Money market		740,192			846,441			899,364
Certificates of deposit		855,561			816,689			789,533
Total deposits		3,835,006			3,752,676			3,691,818
Advances from FHLB		1,127,065			1,283,532			1,695,265
Securities sold under agreements to repurchase		196,099			116,026			246,360
Federal funds purchased		224,322			139,475			109,500
Secured borrowings		—			138,270			165,375
Subordinated debentures, notes and bonds payable		37,378			39,092			35,232
Junior subordinated debentures		263,266			263,266			263,266
Securities sold but not yet purchased		39,173			35,177			28,184
Due to clearing agent		38,730			24,486			—
Other liabilities		120,327			163,075			137,657
Total liabilities		5,881,366			5,955,075			6,372,657
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 56,338,922, 55,884,089 and 55,766,653 shares		564			559			558
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		261,325			261,720			260,829
Unearned compensation — restricted stock grants		—			(936	)		(916	)
Retained earnings		271,740			261,279			251,129
Total stockholders’ equity before accumulated other comprehensive income		533,678			522,671			511,649
Accumulated other comprehensive (loss)		(12,687	)		(6,335	)		(1,255	)
Total stockholders’ equity		520,991			516,336			510,394
Total liabilities and stockholders’ equity	$	6,402,357			6,471,411			6,883,051

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

																	For the Six
		For The Three Months Ended															Months Ended
(in thousands)		6/30/2006			3/31/2006			12/31/2005			9/30/2005			6/30/2005			6/30/2006			6/30/2005
INTEREST INCOME:
Interest and fees on loans		$	75,765			75,386			75,404			75,747			73,582			151,151			142,099
Interest on securities available for sale			4,314			4,305			4,379			4,741			5,258			8,619			10,553
Interest on tax exempt securities			4,856			4,229			4,027			3,963			4,016			9,085			7,369
Interest and dividends on investments and
securities owned			7,393			8,191			8,777			8,478			7,685			15,584			14,868
Total interest income			92,328			92,111			92,587			92,929			90,541			184,439			174,889
INTEREST EXPENSE:
Interest on deposits			13,852			12,754			11,736			10,519			9,534			26,606			17,829
Interest on advances from FHLB			13,007			14,139			15,565			17,332			15,604			27,146			29,278
Interest on short-term borrowed funds			4,931			2,575			2,746			2,108			2,646			7,506			4,745
Interest on secured borrowings			—			2,401			2,862			2,637			2,483			2,401			4,645
Interest on long-term debt			7,891			7,584			6,825			6,392			6,316			15,475			11,988
Capitalized interest on real estate development			(289	)		(480	)		(513	)		(477	)		(437	)		(769	)		(889	)
Total interest expense			39,392			38,973			39,221			38,511			36,146			78,365			67,596
NET INTEREST INCOME			52,936			53,138			53,366			54,418			54,395			106,074			107,293
Provision (recovery from) loan losses			(20	)		163			(109	)		(3,410	)		820			143			(3,096	)
NET INTEREST INCOME AFTER PROVISION			52,956			52,975			53,475			57,828			53,575			105,931			110,389
NON-INTEREST INCOME:
Service charges on deposits			21,274			19,099			17,808			16,415			14,744			40,373			27,733
Other service charges and fees			7,353			6,222			6,436			5,824			5,849			13,575			11,087
Broker/dealer revenue			51,381			54,562			49,831			50,368			83,915			105,943			138,601
Securities activities, net			2,830			2,541			474			181			90			5,371			192
Gain on sales of loans			200			94			221			295			116			294			226
Gain associated with debt redemption			1,092			436			—			—			—			1,528			—
Income (loss) from real estate operations			114			(1,096	)		(558	)		1,142			1,655			(982	)		3,896
Income from unconsolidated subsidiaries			278			820			211			142			137			1,098			268
Gain (loss) on the sale of office properties and equipment, net			1,806			(28	)		(16	)		—			293			1,778			293
Other			2,676			2,272			2,315			2,137			2,404			4,948			5,577
Total non-interest income			89,004			84,922			76,722			76,504			109,203			173,926			187,873
NON-INTEREST EXPENSE:
Employee compensation and benefits			80,011			80,200			70,257			68,455			78,391			160,211			144,186
Occupancy and equipment			17,516			16,247			15,394			14,853			13,953			33,763			27,190
Impairment of office properties and equipment			—			—			—			—			3,706			—			3,706
Advertising and promotion			8,644			9,957			11,701			6,667			8,069			18,601			14,367
Professional fees			4,189			4,250			4,692			4,207			4,316			8,439			8,397
Communications			3,930			3,954			3,470			3,371			3,508			7,884			6,713
Floor broker and clearing fees			2,142			2,719			2,433			2,305			2,012			4,861			4,380
Costs associated with debt redemption			1,034			423			—			—			—			1,457			—
Reserve for fines and penalties, compliance matter			—			—			10,000			—			—			—			—
Other			14,297			11,918			12,052			11,326			10,188			26,215			19,989
Total non-interest expense			131,763			129,668			129,999			111,184			124,143			261,431			228,928
Income before income taxes			10,197			8,229			198			23,148			38,635			18,426			69,334
Provision for income taxes			1,785			1,517			1,691			6,888			14,098			3,302			24,919
GAAP net income (loss)		$	8,412			6,712			(1,493	)		16,260			24,537			15,124			44,415
Reconciliation of Operating and GAAP Net Income
GAAP net income (loss)		$	8,412			6,712			(1,493	)		16,260			24,537			15,124			44,415
Gain associated with debt redemption			(710	)		(283	)		—			—			—			(993	)		—
Impairment of office properties and equipment			—			—			—			—			2,409			—			2,409
Costs associated with debt redemption			672			275			—			—			—			947			—
Reserve for fines and penalties, compliance matter			—			—			10,000			—			—			—			—
Operating net income	(note 1)	$	8,374			6,704			8,507			16,260			26,946			15,078			46,824

3

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

		For the three months ended
(in thousands except percentages and per share data)		6/30/2006			3/31/2006			12/31/2005			9/30/2005			6/30/2005
Loans:
Residential real estate		$	2,047,430			2,043,310			2,115,899			2,245,067			2,262,214
Commercial real estate excluding certain loan participations sold	(note 3)		1,483,299			1,561,236			1,576,131			1,643,570			1,731,243
Loan participations sold	(note 3)		—			125,293			134,080			147,633			164,778
Consumer			546,624			539,937			538,321			527,190			505,338
Lease financing			172			467			1,433			2,768			4,710
Commercial business			148,604			102,066			91,979			90,578			91,756
Small business			255,701			241,103			226,153			216,931			206,272
Total Loans			4,481,830			4,613,412			4,683,996			4,873,737			4,966,311
Investments — taxable			853,224			857,866			867,625			924,911			899,134
Investments — tax exempt			404,644			401,541			394,935			396,908			406,403
Total interest earning assets			5,739,698			5,872,819			5,946,556			6,195,556			6,271,848
Goodwill and core deposit intangibles			84,486			84,878			85,277			85,679			86,095
Other non-interest earning assets			448,191			430,746			431,215			411,116			371,549
Total assets		$	6,272,375			6,388,443			6,463,048			6,692,351			6,729,492
Tangible assets	(note 2)	$	6,187,889			6,303,565			6,377,771			6,606,672			6,643,397
Deposits:
Demand deposits		$	1,109,005			1,065,510			1,017,467			1,000,219			981,643
Savings			364,946			331,117			309,007			303,268			301,331
NOW			764,738			760,419			692,128			666,567			685,769
Money market			765,805			829,700			887,858			904,382			906,514
Certificates of deposit			844,318			843,866			797,187			781,044			782,335
Total deposits			3,848,812			3,830,612			3,703,647			3,655,480			3,657,592
Short-term borrowed funds			396,870			239,144			276,333			251,242			359,861
FHLB advances			1,010,458			1,164,675			1,345,033			1,659,411			1,615,310
Secured borrowings	(note 3)		—			125,293			134,080			147,633			164,778
Long-term debt			303,052			301,529			301,655			298,887			299,075
Total borrowings			1,710,380			1,830,641			2,057,101			2,357,173			2,439,024
Other liabilities			186,741			204,693			169,156			163,581			142,617
Total liabilities			5,745,933			5,865,946			5,929,904			6,176,234			6,239,233
Stockholders’ equity			526,442			522,497			533,144			516,117			490,259
Total liabilities and stockholders’ equity		$	6,272,375			6,388,443			6,463,048			6,692,351			6,729,492
Other comprehensive (loss) in stockholders’ equity			(8,700	)		(5,350	)		(4,810	)		(1,612	)		(5,119	)
Tangible stockholders’ equity	(note 2)	$	450,656			442,969			452,677			432,050			409,283
Period End
Total loans, net excluding certain loan participations sold		$	4,484,764			4,412,989			4,486,502			4,543,245			4,803,529
Loan participations sold	(note 3)		—			111,754			138,270			129,891			165,375
Total assets			6,402,357			6,357,602			6,471,411			6,482,713			6,883,051
Total stockholders’ equity			520,991			521,770			516,336			523,392			510,394
Common shares outstanding			61,215,046			61,293,692			60,760,213			60,738,610			60,642,777
Cash dividends			2,330,675			2,334,112			2,308,888			2,308,067			2,122,497
Common stock cash dividends per share			0.038			0.038			0.038			0.038			0.035
Closing stock price			14.84			14.39			14.00			16.99			18.95
High stock price for the quarter			15.99			15.23			17.19			19.33			19.15
Low stock price for the quarter			13.86			12.67			13.29			15.64			16.51
Book value per share			8.51			8.51			8.50			8.62			8.42

4

Bank Operations Business Segment
Condensed Statements of Operations (Unaudited)

															For the Six
	For the Three Months Ended														Months Ended
(In thousands)	6/30/2006			3/31/2006			12/31/2005			9/30/2005			6/30/2005		6/30/2006			6/30/2005
Net interest income	$	55,257			55,138			54,760			55,939			56,031		110,395			110,376
Provision (recovery from) loan losses		(20	)		163			(109	)		(3,410	)		820		143			(3,096	)
Net interest income after provision for loan losses		55,277			54,975			54,869			59,349			55,211		110,252			113,472
Non-interest income
Service charges on deposits		21,274			19,099			17,808			16,415			14,744		40,373			27,733
Other service charges and fees		7,353			6,222			6,436			5,824			5,849		13,575			11,087
Securities activities, net		458			(1	)		—			23			87		457			94
Gain on sales of loans		200			94			221			295			116		294			226
Gain associated with debt redemption		1,092			436			—			—			—		1,528			—
Income (loss) from real estate operations		114			(1,096	)		(558	)		1,142			1,655		(982	)		3,896
Gain (loss) on the sale of office properties, net		1,806			(28	)		(16	)		—			293		1,778			293
Other non-interest income		2,663			2,282			1,944			2,019			2,221		4,945			5,177
Total non-interest income		34,960			27,008			25,835			25,718			24,965		61,968			48,506
Non-interest expense
Employee compensation and benefits		36,517			34,357			31,445			28,106			27,577		70,874			53,975
Occupancy and equipment		13,584			12,372			11,503			10,826			10,165		25,956			19,282
Impairment of office properties and equipment		—			—			—			—			3,706		—			3,706
Advertising		7,123			8,296			10,244			5,518			5,965		15,419			11,133
Professional fees		2,020			2,193			2,521			2,641			2,638		4,213			4,533
Costs associated with debt redemption		1,034			423			—			—			—		1,457			—
Reserve for fines and penalties, compliance matter		—			—			10,000			—			—		—			—
Other		11,906			9,742			10,076			9,631			8,265		21,648			15,951
Total non-interest expense		72,184			67,383			75,789			56,722			58,316		139,567			108,580
Income from bank operations business segment before income taxes		18,053			14,600			4,915			28,345			21,860		32,653			53,398
Provision for income taxes		5,301			4,182			4,018			9,054			7,089		9,483			17,766
Net income from bank operations business segment	$	12,752			10,418			897			19,291			14,771		23,170			35,632
Reconciliation of Operating and business segment net income
Business segment income	$	12,752			10,418			897			19,291			14,771		23,170			35,632
Gain associated with debt redemption		(710	)		(283	)		—			—			—		(993	)		—
Impairment of office properties and equipment		—			—			—			—			2,409		—			2,409
Costs associated with debt redemption		672			275			—			—			—		947			—
Reserve for fines and penalties, compliance matter		—			—			10,000			—			—		—			—
Operating net income	$	12,714			10,410			10,897			19,291			17,180		23,124			38,041

5

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

												For the Six
(in thousands except percentages and per share data)	For the Three Months Ended											Months Ended
	6/30/2006			3/31/2006		12/31/2005		9/30/2005		6/30/2005		6/30/2006		6/30/2005
Statistics:
GAAP tax equivalent:
Average earning assets	$	5,460,276			5,591,286		5,709,807		5,967,885		6,046,843		5,525,419		5,957,794
Average interest bearing liabilities	$	4,189,321			4,338,215		4,485,417		4,754,244		4,856,422		4,263,356		4,801,919
Average tangible assets	$	5,827,060			5,947,154		6,053,697		6,280,162		6,344,861		5,886,762		6,248,354
Average tangible equity	$	491,459			484,162		495,614		473,387		463,813		487,830		456,282
Borrowings to deposits and borrowings	%	29.35			26.31		31.45		33.24		37.95		29.35		37.95
Operating (3):
Average earning assets	$	5,460,276			5,465,993		5,575,727		5,820,252		5,882,065		5,463,118		5,789,642
Average interest bearing liabilities	$	4,189,321			4,212,922		4,351,337		4,606,611		4,691,644		4,201,055		4,633,767
Average tangible assets	$	5,827,060			5,821,861		5,919,617		6,132,529		6,180,083		5,824,461		6,080,202
Average tangible equity	$	491,459			484,162		495,614		473,387		463,813		487,830		456,282
GAAP tax equivalent:
Yield on earning assets	%	6.58			6.39		6.29		6.08		5.84		6.48		5.73
Cost of interest-bearing liabilities	%	3.14			3.06		2.97		2.78		2.55		3.10		2.42
Interest spread	%	3.44			3.33		3.32		3.30		3.29		3.39		3.31
Net interest margin	%	4.17			4.02		3.96		3.87		3.79		4.09		3.78
Operating tax equivalent (3):
Yield on earning assets	%	6.58			6.36		6.24		6.05		5.84		6.47		5.74
Cost of interest-bearing liabilities	%	3.14			2.92		2.80		2.64		2.43		3.03		2.31
Interest spread	%	3.44			3.44		3.44		3.41		3.41		3.44		3.43
Net interest margin	%	4.17			4.11		4.05		3.96		3.90		4.14		3.89
GAAP:
Efficiency ratio	%	80.01			82.03		94.04		69.46		72.00		80.97		68.34
Return on average tangible assets	%	0.88			0.70		0.06		1.23		0.93		0.79		1.14
Return on average tangible equity	%	10.38			8.61		0.72		16.30		12.74		9.50		15.62
Operating (1):
Efficiency ratio	%	79.83			81.95		81.63		69.46		67.42		80.13		66.01
Return on average tangible assets	%	0.87			0.72		0.74		1.26		1.11		0.79		1.25
Return on average tangible equity	%	10.35			8.60		8.79		16.30		14.82		9.48		16.67
Earning assets repricing (2):
Percent of earning assets that have fixed rates	%	52			55		54		50
Percent of earning assets that have variable rates	%	48			45		46		50
One year Gap	%	(2	)		9		7		4

(1)	Ratios have been adjusted to exclude gains and costs associated with debt redemptions, impairment on BankAtlantic’s former corporate headquarters and a reserve for a compliance matter.
(2)	Percentages for periods prior to September 30, 2005 are not available.
(3)	Adjusted to exclude loan participations sold accounted for as secured borrowings.

6

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

	As of
(In thousands)	6/30/2006		3/31/2006		12/31/2005		9/30/2005		6/30/2005
ASSETS
Loans receivable, net	$	4,484,764		4,409,971		4,483,142		4,539,544		4,799,485
Loan participations sold (1)		—		111,754		138,270		129,891		165,375
Held to maturity securities		470,994		396,251		427,575		439,015		483,992
Available for sale securities		569,618		567,664		578,913		608,375		658,532
Goodwill		70,489		70,489		70,489		70,489		70,489
Core deposit intangible asset		7,608		7,995		8,395		8,796		9,197
Other assets		444,923		435,976		402,546		369,994		374,207
Total assets	$	6,048,396		6,000,100		6,109,330		6,166,104		6,561,277
LIABILITIES AND STOCKHOLDER’S EQUITY
Deposits
Demand	$	1,119,608		1,152,365		1,019,992		1,017,866		1,039,703
NOW		747,437		790,225		755,708		673,803		660,633
Savings		372,212		351,839		313,889		303,348		302,677
Total low cost deposits		2,239,257		2,294,429		2,089,589		1,995,017		2,003,013
Money market		740,192		806,871		846,441		921,585		899,364
Certificate of deposits		855,561		859,470		816,689		777,743		789,533
Total deposits		3,835,010		3,960,770		3,752,719		3,694,345		3,691,910
Advances from Federal Home Loan Bank		1,127,065		1,085,914		1,283,532		1,485,649		1,695,265
Short term borrowings		428,942		179,850		261,154		187,513		362,307
Secured borrowings (1)		—		111,754		138,270		129,891		165,375
Long term debt		37,378		36,832		39,092		36,702		35,232
Other liabilities		65,907		72,102		89,834		79,228		69,235
Total liabilities		5,494,302		5,447,222		5,564,601		5,613,328		6,019,324
Stockholder’s equity		554,094		552,878		544,729		552,776		541,953
Total liabilities and stockholder’s equity	$	6,048,396		6,000,100		6,109,330		6,166,104		6,561,277

(1) Amount represents loan participations sold accounted for as secured borrowings.

7

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

	For the Three Months Ended
	June 30, 2006								June 30, 2005
	Average		Revenue/			Yield/			Average		Revenue/			Yield/
(in thousands)	Balance		Expense			Rate			Balance		Expense			Rate
Loans:
Residential real estate	$	2,047,430		26,288			5.14	%	$	2,262,214		27,597			4.88	%
Commercial real estate		1,480,314		30,965			8.37			1,726,861		30,298			7.02
Loan participations sold		—		—			—			164,778		2,483			6.04
Consumer		546,624		10,175			7.45			505,338		7,595			6.01
Lease financing		173		4			9.25			4,710		131			11.13
Commercial business		148,604		3,239			8.72			85,778		1,598			7.45
Small business		255,701		5,093			7.97			206,272		3,788			7.35
Total loans		4,478,846		75,764			6.77			4,955,951		73,490			5.93
Investments — tax exempt		398,404		5,817	(1)		5.84			368,264		5,329	(1)		5.79
Investments — taxable		583,026		8,197			5.62			722,628		9,520			5.27
Total interest earning assets		5,460,276		89,778			6.58	%		6,046,843		88,339			5.84	%
Goodwill and core deposit intangibles		78,301								79,910
Other non-interest earning assets		366,784								298,018
Total Assets	$	5,905,361							$	6,424,771
Deposits:
Savings	$	364,946		523			0.57	%	$	301,331		209			0.28	%
NOW		764,738		1,023			0.54			685,769		723			0.42
Money market		765,805		3,974			2.08			906,514		3,295			1.46
Certificate of deposit		844,318		8,331			3.96			782,335		5,307			2.72
Total interest bearing deposits		2,739,807		13,851			2.03			2,675,949		9,534			1.43
Short-term borrowed funds		402,390		5,001			4.98			364,575		2,681			2.95
Advances from FHLB		1,010,459		13,007			5.16			1,615,310		15,604			3.87
Secured borrowings		—		—			—			164,778		2,483			6.04
Long-term debt		36,665		916			10.02			35,810		578			6.47
Total interest bearing liabilities		4,189,321		32,775			3.14			4,856,422		30,880			2.55
Demand deposits		1,109,361								982,332
Non-interest bearing other liabilities		51,442								48,459
Total Liabilities		5,350,124								5,887,213
Stockholder’s equity		555,237								537,558
Total liabilities and stockholder’s equity	$	5,905,361							$	6,424,771
Net tax equivalent interest income/ net interest spread			$	57,003			3.44	%			$	57,459			3.29	%
Tax equivalent adjustment				(2,035	)							(1,865	)
Capitalized interest from real estate operations				289								437
Net interest income				55,257								56,031
Margin
Interest income/interest earning assets							6.58	%							5.84	%
Interest expense/interest earning assets							2.41								2.05
Net interest margin (tax equivalent)							4.17	%							3.79	%
Net interest margin (tax equivalent) excluding secured borrowings							4.17	%							3.90	%

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

8

Bank Operations
Average Balance Sheet — Yield / Rate Analysis

	For the Six Months Ended
	June 30, 2006								June 30, 2005
	Average		Revenue/			Yield/			Average		Revenue/			Yield/
(in thousands)	Balance		Expense			Rate			Balance		Expense			Rate
Loans:
Residential real estate	$	2,045,381		52,000			5.08	%	$	2,174,332		53,106			4.88	%
Commercial real estate		1,518,882		61,792			8.14			1,743,213		58,621			6.73
Loan participations sold		62,301		2,401			7.71			168,152		4,645			5.52
Consumer		543,299		19,652			7.23			496,591		14,371			5.79
Lease financing		319		20			12.54			5,472		298			10.89
Commercial business		125,464		5,485			8.74			90,007		3,222			7.16
Small business		248,442		9,801			7.89			201,031		7,279			7.24
Total loans		4,544,088		151,151			6.65			4,878,798		141,542			5.80
Investments — tax exempt		395,796		11,548	(1)		5.84			351,241		10,158			5.78
Investments — taxable		585,535		16,430			5.61			727,755		19,075			5.24
Total interest earning assets		5,525,419		179,129			6.48	%		5,957,794		170,775			5.73	%
Goodwill and core deposit intangibles		78,496								80,141
Other non-interest earning assets		361,343								290,560
Total Assets	$	5,965,258							$	6,328,495
Deposits:
Savings	$	348,125		836			0.48	%	$	291,476		399			0.28	%
NOW		762,590		1,957			0.52			675,100		1,324			0.40
Money market		797,576		7,958			2.01			913,907		5,998			1.32
Certificate of deposit		844,093		15,855			3.79			779,858		10,108			2.61
Total deposits		2,752,384		26,606			1.95			2,660,341		17,829			1.35
Short-term borrowed funds		324,292		7,644			4.75			360,832		4,804			2.68
Advances from FHLB		1,087,141		27,146			5.04			1,576,090		29,278			3.75
Secured borrowings		62,301		2,401			7.71			168,152		4,645			5.52
Long-term debt		37,238		1,664			9.01			36,504		1,178			6.51
Total interest bearing liabilities		4,263,356		65,461			3.10			4,801,919		57,734			2.42
Demand deposits		1,087,755								948,214
Non-interest bearing other liabilities		60,831								46,349
Total Liabilities		5,411,942								5,796,482
Stockholder’s equity		553,316								532,013
Total liabilities and stockholder’s equity	$	5,965,258							$	6,328,495
Net interest income/net interest spread			$	113,668			3.39	%			$	113,041			3.31	%
Tax equivalent adjustment				(4,042	)							(3,554	)
Capitalized interest from real estate operations				769								889
Net interest income				110,395								110,376
Margin
Interest income/interest earning assets							6.48	%							5.73	%
Interest expense/interest earning assets							2.39								1.95
Net interest margin							4.09	%							3.78	%
Net interest margin (tax equivalent) excluding secured borrowings							4.14	%							3.89	%

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

9

Bank Operations Business Segment
Allowance for Loan Loss and Credit Quality

																For the Six
	For the Three Months Ended															Months Ended
(in thousands)	6/30/2006			3/31/2006			12/31/2005			9/30/2005			6/30/2005			6/30/2006			6/30/2005
Allowance for Loan Losses
Beginning balance	$	41,889			41,192			40,695			43,650			43,042			41,192			46,010
Charge-offs:
Residential real estate		(60	)		(68	)		(8	)		(191	)		(56	)		(128	)		(254	)
Commercial real estate		—			—			—			—			—			—			—
Commercial business		(22	)		(12	)		(119	)		(222	)		(511	)		(34	)		(797	)
Consumer		(39	)		(201	)		(91	)		(99	)		(43	)		(240	)		(149	)
Small business		(229	)		(85	)		(102	)		(68	)		(466	)		(314	)		(594	)
Total charge-offs		(350	)		(366	)		(320	)		(580	)		(1,076	)		(716	)		(1,794	)
Recoveries:
Residential real estate		—			178			9			55			—			178			1
Commercial real estate		—			9			—			—			—			9			—
Commercial business		116			111			306			355			345			227			461
Consumer		98			199			238			159			121			297			297
Small business		119			140			205			289			220			259			405
Other		160			263			168			177			178			423			1,366
Total recoveries		493			900			926			1,035			864			1,393			2,530
Net (charge-offs) recoveries		143			534			606			455			(212	)		677			736
Provision (recovery from) loan losses		(20	)		163			(109	)		(3,410	)		820			143			(3,096	)
Ending balance	$	42,012			41,889			41,192			40,695			43,650			42,012			43,650
Annualized net charge-offs (recoveries) to average loans	%	(0.01	)		(0.05	)		(0.05	)		(0.04	)		0.02			(0.03	)		(0.03	)

	As of
	6/30/2006		3/31/2006		12/31/2005			9/30/2005			6/30/2005
Credit Quality
Nonaccrual loans	$	5,349		6,101		6,801			6,883			5,785
Nonaccrual tax certificates		857		685		388			385			562
Real estate owned		1,907		1,647		967			912			1,178
Other repossessed assets		—		—		—			46			328
Total nonperforming assets	$	8,113		8,433		8,156			8,226			7,853
Nonperforming assets to total loans and other assets	%	0.17		0.18		0.17			0.17			0.16
Allowance for loan losses to total loans	%	0.93		0.94		0.91			0.89			0.90
Provision expense (recovery) to average loans	%	0.00		0.01		(0.01	)		(0.29	)		0.07
Allowance to nonperforming loans	%	785.42		686.59		605.68			591.24			754.54

(1) Average and total loans exclude loan participations sold financed by secured borrowings.

10

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

															For the Six
	For the Three Months Ended														Months Ended
(in thousands)	6/30/2006			3/31/2006			12/31/2005			9/30/2005			6/30/2005		6/30/2006			6/30/2005
Revenues
Retail brokerage	$	36,209			39,490			36,093			37,831			35,168		75,699			74,455
Capital markets activities		14,489			13,747			10,346			9,534			20,393		28,236			27,729
Investment banking activities		3,384			2,917			5,242			4,065			30,339		6,301			40,735
Other		1,290			2,646			2,469			2,694			1,504		3,936			2,118
Total operating revenues		55,372			58,800			54,150			54,124			87,404		114,172			145,037
Expenses
Employee compensation and benefits		42,433			44,355			37,764			39,358			49,766		86,788			88,203
Occupancy and equipment		3,927			3,871			3,887			4,025			3,786		7,798			7,904
Advertising and promotion		1,326			1,567			1,333			1,072			1,940		2,893			3,013
Professional fees		1,905			1,951			2,287			1,411			1,591		3,856			3,008
Communications		3,930			3,954			3,470			3,371			3,508		7,884			6,713
Floor broker and clearing fees		2,142			2,719			2,433			2,305			2,012		4,861			4,380
Interest expense		1,514			1,621			1,130			819			968		3,135			1,470
Other		2,086			1,918			1,828			1,604			1,825		4,004			3,772
Total expenses		59,263			61,956			54,132			53,965			65,396		121,219			118,463
Income (loss) from Ryan Beck business segment — before income taxes		(3,891	)		(3,156	)		18			159			22,008		(7,047	)		26,574
Provision (benefit) for income taxes		(1,814	)		(1,591	)		(654	)		(264	)		8,977		(3,405	)		11,013
Net income (loss) from Ryan Beck business segment	$	(2,077	)		(1,565	)		672			423			13,031		(3,642	)		15,561
Statistics:
Average tangible assets	$	238,827			231,145			220,065			208,883			184,601		234,986			178,252
Average tangible equity		97,195			99,220			99,456			99,195			85,735		98,207			85,495
GAAP return on average tangible assets	%	(3.48	)		(2.71	)		1.22			0.81			28.24		(3.10	)		17.46
GAAP return on average tangible equity		(8.55	)		(6.31	)		2.70			1.71			60.80		(7.42	)		36.40
Compensation as a percent of revenues		76.63			75.43			69.74			72.72			56.94		76.02			60.81
Retail brokerage to total revenues		65.39			67.16			66.65			69.90			40.24		66.30			51.34
Capital markets activities to total revenues		26.17			23.38			19.11			17.62			23.33		24.73			19.12
Investment banking revenue to total revenues		6.11			4.96			9.68			7.51			34.71		5.52			28.09

Condensed Statements of Financial Condition — Unaudited

	As of
(in thousands)	6/30/2006		3/31/2006		12/31/2005		9/30/2005		6/30/2005
ASSETS
Cash and cash equivalents	$	3,799		3,396		5,366		5,388		4,103
Securities		174,657		169,570		180,292		120,298		109,095
Notes receivable — GMS		—		3,018		3,360		3,702		4,043
Property and equipment, net		8,307		7,629		7,573		7,503		6,795
Goodwill		6,184		6,184		6,184		6,184		6,184
Due from clearing agent		3,963		2,672		—		15,650		22,091
Other assets		41,650		37,916		37,334		37,332		51,338
Total assets	$	238,560		230,385		240,109		196,057		203,649
LIABILITIES AND STOCKHOLDER’S EQUITY
Liabilities:
Securities sold not yet purchased	$	39,173		41,828		35,177		20,688		28,184
Due to clearing agent		38,730		32,206		24,486		—		—
Other liabilities		57,609		51,465		74,100		69,695		70,214
Total liabilities		135,512		125,499		133,763		90,383		98,398
Stockholder’s equity		103,048		104,886		106,346		105,674		105,251
Total liabilities and stockholder’s equity	$	238,560		230,385		240,109		196,057		203,649

11

Parent Company Business Segment Activities
Condensed Statements of Operations — Unaudited

																For the Six
	For the Three Months Ended															Months Ended
(in thousands)	6/30/2006			3/31/2006			12/31/2005			9/30/2005			6/30/2005			6/30/2006			6/30/2005
Net interest (expense)	$	(4,798	)		(4,618	)		(4,583	)		(4,458	)		(4,157	)		(9,416	)		(8,049	)
Non-Interest income
Income from unconsolidated subsidiaries		278			820			211			142			137			1,098			268
Securities activities, net		2,372			2,541			475			158			3			4,913			98
Other		—			—			514			150			202			—			508
Non-interest income		2,650			3,361			1,200			450			342			6,011			874
Non-interest expense
Employee compensation and benefits		1,061			1,487			1,048			991			1,048			2,548			2,008
Advertising and promotion		195			94			123			77			164			289			221
Professional fees		264			106			28			186			106			370			965
Other		297			271			153			94			100			568			269
Non-interest expense		1,817			1,958			1,352			1,348			1,418			3,775			3,463
Loss from parent company activities before income taxes		(3,965	)		(3,215	)		(4,735	)		(5,356	)		(5,233	)		(7,180	)		(10,638	)
Benefit for income taxes		(1,702	)		(1,074	)		(1,673	)		(1,902	)		(1,968	)		(2,776	)		(3,860	)
Net loss from parent company business segment	$	(2,263	)		(2,141	)		(3,062	)		(3,454	)		(3,265	)		(4,404	)		(6,778	)

Condensed Statements of Financial Condition — Unaudited

	As of
(in thousands)	6/30/2006		3/31/2006		12/31/2005		9/30/2005		6/30/2005
ASSETS
Cash	$	8,796		4,933		7,342		12,783		11,218
Securities		99,486		112,006		104,602		103,755		100,592
Investment in subsidiaries		657,144		657,765		651,078		658,454		647,207
Investment in unconsolidated subsidiaries		11,996		11,996		12,464		12,510		7,910
Other assets		10,716		7,383		8,210		7,075		13,905
Total assets	$	788,138		794,083		783,696		794,577		780,832
LIABILITIES AND STOCKHOLDERS’ EQUITY
Subordinated debentures and notes payable	$	263,266		268,266		263,266		263,266		263,266
Other liabilities		3,881		4,047		4,094		7,919		7,172
Total liabilities		267,147		272,313		267,360		271,185		270,438
Stockholders’ equity		520,991		521,770		516,336		523,392		510,394
Total liabilities and stockholders’ equity	$	788,138		794,083		783,696		794,577		780,832

12