BankAtlantic Bancorp Reports Financial Results

For the Third Quarter, 2008

Results reflect an 80% Improvement over the Third Quarter, 2007

     FORT LAUDERDALE, Florida — October 28, 2008 —BankAtlantic Bancorp, Inc. (NYSE: BBX) today reported a net loss of ($6.1) million, or ($0.54) per diluted share, for the quarter ended September 30, 2008, representing a $23.5 million or 80.0% improvement compared to the net loss of ($29.6) million or ($2.61) per diluted share for the third quarter of 2007. BankAtlantic Bancorp (“the Company”) reported a net loss of ($19.4) million, or ($1.73) per diluted share, for the second quarter of 2008.

     The Company reported a net loss from continuing operations (excludes additional proceeds received from the sale of Ryan Beck in February 2007, reflected as discontinued operations) of ($11.0) million, or ($0.98) per diluted share, for the quarter ended September 30, 2008, representing a 62.9% improvement compared to the net loss from continuing operations of ($29.6) million, or ($2.61) per diluted share, for the comparable quarter of 2007. The Company reported a net loss from continuing operations of ($19.4) million, or ($1.73) per diluted share, for the second quarter of 2008.

     BankAtlantic, the banking subsidiary of BankAtlantic Bancorp, reported a net loss of ($2.1) million for the third quarter of 2008, compared to a net loss of ($27.1) million for the third quarter of 2007, and a net loss of ($14.1) million for the second quarter of 2008, an 85.1% improvement.

     BankAtlantic Bancorp’s Chairman and Chief Executive Officer, Alan B. Levan, commented, “In the face of extremely challenging economic conditions and unprecedented turbulence in the financial sector, we are pleased with the continued improvements and efficiencies produced during the third quarter and over the last nine months. We believe this quarter’s results are a strong reflection of the improvement in BankAtlantic’s core operations. As discussed in detail below, as of September 30, 2008:

• “BankAtlantic continues to maintain consistently solid capital levels, exceeding all regulatory ‘well capitalized’ thresholds;

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• “Third quarter net charge-offs declined from $22.8 million in the second quarter of 2008 to $14.9 million, a 68.3% and 34.5% improvement over the first and second quarters of 2008, respectively. Likewise, the third quarter provision for loan losses of $22.9 million was significantly lower than provisions for the first and second quarters of 2008 and for the third quarter of 2007;

• “Total delinquencies during the 2008 third quarter, excluding non-accrual loans and certain Commercial Real Estate loan renewals in process, increased 8 basis points from the second quarter 2008;

• “Net interest margin remained relatively stable, declining two basis points for the third quarter of 2008 compared to the second quarter of 2008;

• “Our savings from expense reduction initiatives in the third quarter of 2008 yielded a 7.6% improvement over the second quarter of 2008, and an 18.0% improvement over the third quarter of 2007;

     “BankAtlantic has experienced a number of economic cycles since 1952, and while no cycle or downturn is exactly the same, BankAtlantic emerged from each a more efficient, more profitable company. Again, we are working hard to position our company for improved operating performance and steady growth, while maintaining prudent risk management policies. BankAtlantic’s lending practices never included subprime, option-arm or negative amortization products. Additionally, BankAtlantic’s investment portfolio does not include credit default swaps, commercial paper, collateralized debt obligations (CDO’s), structured investment vehicles (SIV’s), or Fannie Mae or Freddie Mac equity or debt securities.

     “As banks and their names change in our markets, BankAtlantic remains ready to serve all Floridians. Customers do have a choice as to who their next bank is. BankAtlantic, ‘Florida’s Most Convenient Bank’, is here with a deep commitment to provide seven-day convenience, unparalleled service, and an attractive mix of banking products and services,” concluded Alan B. Levan.

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BankAtlantic Highlights:

BankAtlantic Performance:

     Net Income — BankAtlantic’s Chief Executive Officer, Jarett S. Levan, commented, “We continue to make progress in improving our operations, even in the midst of a recessionary economy and despite the losses associated with our loan portfolios.

     “Year-to-date, pre-tax core operating earnings, which exclude the impact of loan loss provisions and impairment, restructuring and exit activity expenses, were $54.0 million versus $42.7 million at September 30, 2007, representing a 26.4% improvement. The third quarter 2008 pre-tax core operating earnings were $18.8 million compared to the $20.3 million reported for the second quarter of 2008, with the variance due primarily to $2.0 million in net securities activities in the second quarter of 2008 that did not recur in the third quarter and higher professional fees in the 2008 third quarter. Loan loss provisions, impairment, restructuring and exit activity expenses were ($23.4) million and ($43.8) million for the three months ended September 30, 2008 and June 30, 2008, respectively, and aggregated ($110.0) million and ($76.0) million for the nine months ended September 30, 2008 and 2007, respectively. Details for each period are provided in the supplementary financial statements included with this press release. We believe these improvements reflect management’s focus on reducing operating expenses and improving results in our core operations in spite of the challenges in the current economic environment.

     “BankAtlantic is in the process of completing its annual goodwill impairment analysis. Although the analysis is not yet complete and may not be complete until the fourth quarter, the initial review process indicates that based on a combination of factors, including the economic environment and a sustained decline in the Company’s stock price, goodwill in one or more of BankAtlantic’s reporting units might be determined to be impaired. As a result of the initial review, additional analysis is required and the Company is performing that analysis. While BankAtlantic carries approximately $70.5 million of goodwill on its balance sheet, any potential impairment charge related to goodwill would have no impact whatsoever on BankAtlantic’s operations, cash balances, liquidity or capital levels.

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     Capital Strength — “BankAtlantic continues to be well-capitalized. At September 30, 2008, BankAtlantic’s Core, Tier I and Total Capital ratios were 6.89%, 9.95% and 11.75%, respectively, consistent with expectations and well in excess of the regulatory well-capitalized thresholds of 5.0%, 6.0% and 10.0%. BankAtlantic’s ratio of non-performing assets to common equity plus reserves was 17.05% at September 30, 2008. BankAtlantic Bancorp contributed $10.0 million in capital to BankAtlantic during the third quarter of 2008, and has contributed $65.0 million of capital year-to-date, offsetting the impact of credit losses and further strengthening the Bank’s already well-capitalized base.

     Deposits and Liquidity — “BankAtlantic’s deposit base continues to be a strong and stable funding source, with over 68% of our $3.9 billion in total deposits at September 30, 2008 comprised of non-CD balances, with an average cost of deposits for the third quarter 2008 of 1.57%. Historically, the third quarter has been a soft deposit growth period for BankAtlantic due to the seasonality of our primary markets and total deposit balances declined approximately 1.7% between the second and third quarter 2008, materially consistent with the 1.2% decline in total deposits between the second and third quarter 2007. We believe the decline is a result of normal seasonality factors combined with competitive deposit pricing in our marketplace and the overall impact of the economic environment on our depositor base.

     “Overall liquidity remains strong. We effectively reduced our period-end borrowings at September 30, 2008 through a $256.2 million reduction of assets, primarily through scheduled runoff of residential loans and tax certificates. Further, BankAtlantic’s brokered deposit balances at September 30, 2008 amounted to only 4.0% of its total deposits, significantly below other Florida financial institutions.

     Net Interest Margin — “Net interest income for the third quarter of 2008 improved to $51.2 million compared to $49.9 million in the previous quarter and $49.2 million in the corresponding 2007 quarter. The tax equivalent net interest margin was 3.56% in the third quarter of 2008, compared to 3.58% in the second quarter of 2008, and 3.59% in the corresponding quarter of 2007. Additionally, average earning assets increased $200.6 million and $20.1 million compared to the second quarter of 2008 and the comparable quarter of 2007, respectively, due primarily to seasonal growth in tax certificates, offset by our decision to slow loan growth as part of our credit risk management initiatives. Although we experienced considerable pricing pressures from competitors and some shifts in our deposit mix to higher cost deposits during the quarter, our net interest spread remained stable at 3.16% in the third quarter 2008 compared to 3.15% in the second quarter 2008.

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     Non-interest income — “Non-interest income, of which approximately 70.5% is associated with our core deposit account base, continues to provide a consistent and stable source of income for BankAtlantic. Non-interest income for the third quarter of 2008 was $33.9 million, a slight decrease from the second quarter of 2008 and third quarter of 2007. The decline was due primarily to securities activities in prior periods that did not recur in the third quarter of 2008, as well as a focused attempt to reduce fee and check losses. We believe this initiative will have a net, long term benefit to the Bank, even though the initial impact to fee income is slightly negative. Total non-interest income for the third quarter was 39.9% of total revenues.

     Non-interest expense — “Year-to-date, excluding impairment, restructuring and exit activity charges of $6.4 million in 2008 and $14.7 million in 2007, non-interest expense improved $15.7 million or 7.3% from the 2007 year-to-date period. Excluding impairment, restructuring and exit activity charges of $11.0 million in the third quarter of 2007 and of $0.5 million in the third quarter of 2008, non-interest expense during the third quarter of 2008 was $66.3 million, an improvement of $4.2 million or 6.0% from the comparable 2007 quarter. Total non-interest expense was $66.8 million in the third quarter of 2008, compared to $81.5 million in the third quarter of 2007 and $72.3 million in the second quarter of 2008.

Credit Risk Management:

     Credit — “BankAtlantic experienced third quarter net charge-offs of $14.9 million, representing a 68.3% and 34.5% improvement over the first and second quarters of 2008, respectively. The Commercial Real Estate charge-offs in the third quarter amounted to $5.0 million, the majority of which related to one loan.

     “The provision for loan losses in the third quarter of 2008 was $22.9 million, significantly lower than the provisions of $37.8 million for the second quarter of 2008 and $48.9 million for the third quarter of 2007. BankAtlantic’s allowance for loan losses increased to $106.4 million at September 30, 2008, representing 2.40% of total loans, compared to 2.21% at June 30, 2008 and 1.97% at September 30, 2007. The increase in the allowance was primarily related to increases in our Consumer loan portfolio reserves. The ratio of the allowance to non-accrual loans at September 30, 2008 was 118.6%. Total non-accrual loans increased approximately $12 million in the third quarter of 2008 compared to the second quarter of 2008, in part due to backlogs in foreclosure activity in the residential portfolio. Commercial Real Estate non-accrual loan balances remained relatively unchanged from the prior quarter.

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     “Total delinquencies, excluding non-accrual loans and certain Commercial Real Estate renewals in process, increased 8 basis points from the second quarter of 2008. Delinquencies in the Commercial Real Estate and Small Business portfolios remained unchanged from the preceding quarter, and the Consumer portfolio improved 37 basis points. The Purchased Residential portfolio delinquencies, excluding non-accrual loans, increased 29 basis points to 0.73% during the quarter. However, this Residential portfolio has favorable loan to values and continues to experience low losses. (See details of charge-offs, non-accrual loans and delinquencies in the Capital & Credit Highlights tables below.)

     Commercial Real Estate Loans — “The Bank’s Commercial Real Estate loan portfolio at September 30, 2008 totaled $1.2 billion, including the following loan categories:

     “Builder land bank loans: This category of 7 loans aggregates $63.1 million; 2 of the loans, totaling $17.6 million, are on non-accrual.

     “Land acquisition and development loans: This category of 26 loans aggregates $178.1 million; one loan, totaling $3.2 million, is on non-accrual.

     “Land acquisition, development and construction loans: This category of 15 loans aggregates $77.7 million; 2 of these loans, totaling $17.3 million, are on non-accrual.

     “These non-accrual commercial real estate loans are reflected on the Bank’s financial statements at approximately 46% of their principal balances before charge-offs or specific reserves. These three loan categories that we identified in the third quarter of 2007 continue to be the source for the majority of the Commercial Real Estate non accruals and related charge-offs. We expect continued pressure on this portfolio throughout 2008, including the possibility of additional non-accrual loans, provisions and charge-offs.

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     Purchased Residential Loans — “Our Purchased Residential loan portfolio was $1.9 billion at quarter-end, representing 43.4% of the Bank’s total loans. This portfolio consists of approximately 6,300 first mortgage loans secured by properties in every state in the nation. As we previously stated, our standard products in this portfolio have never included purchased or originated subprime, negative amortizing, or option-arm loans. The portfolio is geographically diverse, the weighted average FICO score of borrowers in this portfolio was 742 at the time of origination, the weighted average loan-to-value of the loans in this portfolio at the time of origination was 68.9%, and the original back end debt ratio was a weighted average of 33.4%. As of September 30, 2008, the average time to payment reset was 60 months. As indicated previously, while this portfolio is experiencing higher delinquencies than in the past, we continue to believe its overall performance remains strong.

     Consumer Loans — “Our Consumer loan portfolio had outstanding balances of $736.0 million at quarter-end, with home equity loans representing 96.6% of this portfolio. None of our home equity loans have been purchased from others; 100% have been originated in our local markets with central underwriting. Approximately 20% of this portfolio is secured by first mortgages. The loans in this portfolio have an updated weighted average loan-to-value, inclusive of first mortgages, of 83.8%, and a weighted average Beacon score of borrowers of approximately 737. We continue to evaluate our consumer loan available commitments and attempt to reduce overall line exposure where appropriate. Partially as a result of this action, consumer loan outstanding balances have remained relatively unchanged since the second quarter of 2008. However, with these efforts, we anticipate that we will continue to experience elevated levels of delinquencies and charge-offs in this portfolio during the balance of the year, based on current economic conditions.”

BankAtlantic Bancorp:

      BankAtlantic Bancorp’s Chairman and CEO, Alan B. Levan, further commented “During the third quarter, 2008, the Company generated approximately $34 million in incremental cash to further support its operations and BankAtlantic. The cash was generated through the following:

• Sale of all of the warrants to acquire Stifel Financial Corp. common stock for $14.4 million, resulting in a net $1.1 million gain;

• Sale of all of the Stifel Financial Corp. common stock received on August 14, 2008 from Stifel as a partial pre-payment of the private client contingent payment earned as part of the sale of Ryan Beck Holdings, Inc. to Stifel in February 2007. The stock sale generated cash of $9.6 million and a net gain of $22,000; and

• Receipt of a $10.3 million tax refund;

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“During the quarter, the Company made a $10 million capital contribution to BankAtlantic. At September 30, 2008, BankAtlantic Bancorp had $46.8 million in cash and investments.

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

     “At September 30, 2008, the loans held by the workout subsidiary totaled $84.4 million with specific loan reserves of $7.7 million. During the 2008 third quarter, primarily as a result of updated valuations, these loans were written-down by $8.3 million. The breakdown of these loans held by the Company’s asset workout subsidiary is as follows:

     “Builder land bank loans: Four non-accrual loans aggregating $22.0 million.

     “Land acquisition and development loans: Four non-accrual loans aggregating $19.5 million.

     “Land acquisition, development and construction loans: Nine non-accrual loans aggregating $29.2 million.

     “Other Commercial real estate loans: Three non-accrual loans aggregating $5.8 million.

     “Commercial business loans: Three non-accrual loans aggregating $5.6 million and one performing loan in the amount of $2.3 million.

     “These commercial real estate non-accrual loans are carried on BankAtlantic Bancorp’s books at approximately 60% of their principal balances prior to charge-offs or specific reserves. While BankAtlantic Bancorp may consider pursuing a possible joint venture or sale of its interests in the workout subsidiary in the future, there is no assurance this will occur.

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     Cash Dividend — “BankAtlantic Bancorp’s Board of Directors declared a cash dividend of $0.025 per share to all shareholders of record of its Class A and Class B Common Stock at the close of trading on October 3^rd, 2008. This quarter’s dividend declaration marked BankAtlantic Bancorp’s 61^st consecutive quarterly dividend payment,” concluded Alan B. Levan.

Financial Highlights:

All per share amounts presented below have been restated to reflect the
one-for-five reverse stock split effected by BankAtlantic Bancorp on September 26, 2008

Third Quarter, 2008 Compared to Third Quarter, 2007

BankAtlantic Bancorp — consolidated:

• (Loss) from continuing operations of ($11.0) million versus ($29.6) million

• Diluted (loss) per share from continuing operations of ($0.98) versus ($2.61)

• Book value per share of $35.64 versus $42.10

• Tangible book value of $29.47 versus $34.46

• Closing market price on October 28, 2008 of $5.00 versus $20.65 on October 29, 2007

BankAtlantic:

• Business segment (loss) of ($2.1) million versus ($27.1) million

• Pre-tax operating earnings of $18.8 million versus $14.6 million- pre-tax operating earnings excludes the impact of provision for loan losses, impairments, restructuring and exit activities of ($23.4) million for the 2008 quarter and ($60.0) million for the 2007 quarter

• Over 33,000 new core deposit accounts opened

• Tax equivalent net interest margin of 3.56% versus 3.59%

• Non-interest income of $33.9 million versus $35.9 million

• Non-interest expense of $66.3 million versus $70.5 million, a decrease of 6.0%, before the impairment, restructuring and exit activities of $522,000 in 2008 and $11.0 million in 2007

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Third Quarter, 2008 Compared to Second Quarter, 2008

BankAtlantic Bancorp — consolidated:

• (Loss) from continuing operations of ($11.0) million versus ($19.4) million

• Diluted (loss) per share from continuing operations of ($0.98) versus ($1.73)

BankAtlantic:

• Business segment (loss) of ($2.1) million versus ($14.1) million

• Pre-tax operating earnings of $18.8 million versus $20.3 million- pre-tax operating earnings excludes the impact of provision for loan losses, impairments, restructuring and exit activities of ($23.4) million for the third quarter and ($43.8) million for the second quarter

• Tax equivalent net interest margin of 3.56% versus 3.58%

• Non-interest income of $33.9 million versus $36.7 million

• Non-interest expense of $66.3 million versus $66.4 million, before the impairment, restructuring and exit activities of $522,000 in the third quarter and $6.0 million during the second quarter

Year-to-date 2008 Compared to Year-to-date 2007

BankAtlantic Bancorp — consolidated:

• (Loss) from continuing operations of ($54.9) million versus ($20.1) million

• Diluted (loss) per share from continuing operations of ($4.89) versus ($1.71)

BankAtlantic:

• Business segment (loss) of ($33.1) million versus ($16.1) million

• Pre-tax operating earnings of $54.0 million versus $42.7 million- pre-tax operating earnings excludes the impact of provision for loan losses, impairments, restructuring and exit activities of ($110.0) million year-to-date 2008 and ($76.0) million year-to-date 2007

• Nearly 136,000 new core deposit accounts opened

• Non-interest income of $106.2 million versus $107.6 million, a decrease of 1.29%

• Non-interest expense of $201.4 million versus $217.1 million, a decrease of 7.3%, before the $6.4 million and $14.7 million of impairment, restructuring and exit activities during the 2008 and 2007 periods

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Third Quarter, 2008 Capital and Credit Highlights:

Capital Ratios (BankAtlantic)

Capital Ratios	9/30/2008			6/30/2008			3/31/2008			12/31/2007			9/30/2007
Total Risk-Based		11.75	%		11.77	%		11.83	%		11.63	%		11.93	%
Tier 1 Risk-Based		9.95	%		9.99	%		10.04	%		9.85	%		10.17	%
Core		6.89	%		6.82	%		6.87	%		6.94	%		7.20	%

Net Charge-offs, for the three-months ended:

($ in thousands)	9/30/2008			6/30/2008			3/31/2008			12/31/2007			9/30/2007
Commercial Real Estate	$	4,965		$	14,501		$	40,591		$	3,118		$	9,444
Consumer		7,621			7,095			4,748			4,045			1,569
Small Business		1,334			345			1,135			449			358
Purchased Residential		753			761			584			216			0
CRA Residential		249			74			40			39			3
Commercial Business		(9	)		(3	)		(26	)		(14	)		(29	)
Total BankAtlantic	$	14,913		$	22,773		$	47,072		$	7,853		$	11,345
Parent-Workout Sub		8,290			8,184		na			na			na
Consolidated Total	$	23,203		$	30,957		$	47,072		$	7,853		$	11,345

Non-accrual loans, at period-end:

($ in thousands)	9/30/2008		6/30/2008		3/31/2008		12/31/2007		9/30/2007
Commercial Real Estate	$	56,419	$	54,033	$	35,381	$	159,278	$	156,299
Consumer		5,867		4,495		4,374		3,218		3,205
Small Business		3,911		1,165		893		883		533
Purchased Residential		21,266		16,721		13,236		6,895		4,113
CRA Residential		2,279		1,487		1,906		1,783		1,219
Commercial Business		0		0		0		6,534		0
Total BankAtlantic	$	89,742	$	77,901	$	55,790	$	178,591	$	165,369
Parent-Workout Sub		82,059		90,412		101,493	na		na
Consolidated Total	$	171,801	$	168,313	$	157,283	$	178,591	$	165,369

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Delinquencies, excluding non-accrual loans, at period-end:

Loan Principal
Balances at 9/30/08
($ in thousands)			9/30/2008			6/30/2008			3/31/2008			12/31/2007			9/30/2007
$	1,232,490	Commercial Real Estate		0.41	%*		0.42	%		1.97	%		0.00	%		0.43	%
	721,218	Consumer		1.17	%		1.54	%		1.14	%		1.08	%		0.90	%
	321,941	Small Business		0.95	%		0.93	%		0.49	%		0.14	%		0.31	%
	1,924,301	Purchased Residential		0.73	%		0.44	%		0.52	%		0.43	%		0.30	%
	64,022	CRA Residential		2.57	%		1.55	%		0.93	%		2.54	%		2.10	%
	154,157	Commercial Business		0.00	%		0.00	%		0.00	%		1.03	%		0.43	%
$	4,418,129	Total BankAtlantic		0.73	%*		0.65	%		0.98	%		0.43	%		0.45	%

* Excludes $26 million of CRE loans that had matured and approved for renewal or forbearance at 9/30/08 but were not fully documented at that time. Including these loans, CRE delinquencies were 2.52% and Total BankAtlantic delinquencies were 1.31% at 9/30/2008.

Loan Provision & Allowance for Loan Losses

	3Q 2008			Allowance for Loan Losses		% of Reserves
($ in thousands)	Loan Provision			at September 30, 2008		to Total Loans
Commercial Real Estate	$	4,015		$	61,882		5.03	%
Consumer		14,574			30,279		4.11	%
Small Business		2,861			7,122		2.22	%
Residential		1,483			4,978		0.25	%
Commercial Business		(9	)		2,174		1.44	%
Total BankAtlantic	$	22,924		$	106,435		2.40	%
Parent-Workout Sub		8,290			7,702		9.13	%
Consolidated Total	$	31,214		$	114,137		2.53	%

Financial data is provided in the supplemental financial tables available at www.BankAtlanticBancorp.com for both BankAtlantic (bank only) as well as the Parent- BankAtlantic Bancorp.

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• 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.

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

     Copies of BankAtlantic Bancorp’s third quarter, 2008 financial 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.

BankAtlantic Bancorp plans to host an investor and media teleconference call and webcast on Wednesday, October 29, 2008 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 67268597.

     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, November 14, 2008. 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 67268597.

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=51813. The archive of the teleconference call will be available through 5:00 p.m. Eastern Time, Friday, November 14, 2008.

About BankAtlantic Bancorp:

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

About BankAtlantic:

BankAtlantic, “Florida’s Most Convenient Bank”, with over $6 billion in assets and more than 100 stores is one of the largest financial institutions headquartered in Florida. BankAtlantic provides a full line of products and services encompassing consumer and commercial banking. BankAtlantic is open 7 days a week and offers holiday hours, extended weekday hours, Totally Free Online Banking & Bill Pay, a 7-Day Customer Service Center, Totally Free Change Exchange coin counters and free retail and business checking with a free gift. BankAtlantic has been serving communities throughout Florida since 1952 and currently operates more than 250 conveniently located ATMs. The bank has supported thousands of charitable, civic and professional organizations since the inception of the BankAtlantic Foundation in 1994.

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

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

BankAtlantic Bancorp Contact Info:
Donna Rouzeau,
Assistant Vice President, Investor Relations & Corporate Communications
Email: CorpComm@BankAtlanticBancorp.com
Leo Hinkley,
Senior Vice President, Investor Relations Officer
Email: InvestorRelations@BankAtlanticBancorp.com
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:
Rbb Public Relations
Sandra Fine
Telephone: 305-567-0535, Fax: 305-448-5027
Email: sandra.fine@rbbpr.com

# # #

Except for historical information contained herein, the matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), that involve substantial risks and uncertainties. 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 results, performance, or achievements could differ materially from those contemplated, expressed, or

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implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of BankAtlantic Bancorp, Inc. (“the Company”) and are subject to a number of risks and uncertainties that are subject to change based on factors which are, in many instances, beyond the Company’s control. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, products and services, including the impact of a continued downturn in the economy or a recession on our business generally, as well as the ability of our borrowers to service their obligations and of our customers to maintain account balances; credit risks and loan losses, and the related sufficiency of the allowance for loan losses, including the impact on the credit quality of our loans (including those held in the asset workout subsidiary of the Company) of a sustained downturn in the economy and in the real estate market and other changes in the real estate markets in our trade area, and where our collateral is located; the quality of our residential land acquisition and development loans (including “Builder land bank loans”) and conditions specifically in that market sector; the risks of additional charge-offs, impairments and required increases in our allowance for loan losses; BankAtlantic Bancorp’s ability to successfully manage the loans held by the newly formed asset workout subsidiary; the successful completion of a sale or joint venture of BankAtlantic Bancorp’s interests in the newly formed asset workout subsidiary in the future, and the risk that we will continue to realize losses in that loan portfolio; changes in interest rates and the effects of, and changes in, trade, monetary and fiscal policies and laws including their impact on the bank’s net interest margin; adverse conditions in the stock market, the public debt market and other financial and credit markets and the impact of such conditions on our activities, the value of our assets and on the ability of our borrowers to service their debt obligations; BankAtlantic’s seven-day banking initiatives and other growth, marketing or advertising initiatives not resulting in continued growth of core deposits or increasing average balances of new deposit accounts or producing results which do not justify their costs; the success of our expense reduction initiatives and the ability to achieve additional cost savings; the success of BankAtlantic’s store expansion program, and achieving growth and profitability at the stores in the time frames anticipated, if at all; and the impact of periodic testing of goodwill, deferred tax assets and other assets for impairment. Past performance, actual or estimated new account openings and growth may not be indicative of future results. In addition to the risks and factors identified above, reference is also made to other risks and factors detailed in reports filed by the Company with the Securities and Exchange Commission. The Company cautions that the foregoing factors are not exclusive.

15

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

													For the Nine
		For the Three Months Ended											Months Ended
			9/30/2008		6/30/2008		3/31/2008		12/31/2007		9/30/2007			9/30/2008		9/30/2007
Earnings (in thousands):
Net loss from continuing operations		$	(10,982	)	(19,363	)	(24,564	)	(9,926	)	(29,610	)		(54,909	)	(20,086	)
Net loss		$	(6,063	)	(19,363	)	(23,443	)	(9,926	)	(29,610	)		(48,869	)	(12,274	)
Average Common Shares Outstanding (in thousands):
Basic			11,228		11,223		11,219		11,211		11,366			11,224		11,774
Diluted			11,228		11,223		11,219		11,211		11,366			11,224		11,774
Key Performance Ratios
Basic loss per share from continuing operations		$	(0.98	)	(1.73	)	(2.19	)	(0.89	)	(2.61	)		(4.89	)	(1.71	)
Diluted loss per share from continuing operations		$	(0.98	)	(1.73	)	(2.19	)	(0.89	)	(2.61	)		(4.89	)	(1.71	)
Basic loss per share		$	(0.54	)	(1.73	)	(2.09	)	(0.89	)	(2.61	)		(4.35	)	(1.04	)
Diluted loss per share		$	(0.54	)	(1.73	)	(2.09	)	(0.89	)	(2.61	)		(4.35	)	(1.04	)
Return on average tangible assets from continuing operations	(note 1)	%	(0.69	)	(1.26	)	(1.57	)	(0.63	)	(1.85	)		(1.17	)	(0.42	)
Return on average tangible equity from continuing operations	(note 1)	%	(12.76	)	(21.63	)	(25.73	)	(9.96	)	(27.45	)		(20.26	)	(6.04	)
Average Balance Sheet Data (in millions):
Assets		$	6,397		6,235		6,350		6,354		6,479			6,327		6,442
Tangible assets	(note 1)	$	6,322		6,160		6,274		6,278		6,402			6,252		6,363
Loans		$	4,544		4,571		4,642		4,654		4,693			4,586		4,674
Investments		$	1,347		1,138		1,191		1,172		1,244			1,226		1,194
Deposits and escrows		$	3,935		3,907		3,949		3,960		3,984			3,930		3,978
Stockholders’ equity		$	415		435		459		471		506			436		520
Tangible stockholders’ equity	(note 1)	$	344		358		382		399		431			361		443

Note:

(1) Average tangible assets is defined as average total assets less average goodwill and core deposit intangibles. Average tangible equity is defined as average total stockholders’ equity less average goodwill, core deposit intangibles and other comprehensive income.

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

	September 30,			December 31,
(in thousands, except share data)	2008			2007
ASSETS
Cash and cash equivalents	$	236,940			124,574
Securities available for sale (at fair value)		734,971			925,363
Investment securities (approximate fair value: $2,812 and $44,688)		2,036			39,617
Financial instruments accounted for at fair value		—			10,661
Tax certificates net of allowance of $5,515 and $3,289		294,029			188,401
Loans receivable, net of allowance for loan losses of $114,137 and $94,020		4,405,098			4,524,188
Federal Home Loan Bank stock, at cost which approximates fair value		77,152			74,003
Real estate held for development and sale		22,016			33,741
Real estate owned		20,054			17,216
Office properties and equipment, net		219,008			243,863
Goodwill and other intangible assets		74,864			75,886
Other assets		141,716			121,304
Total assets	$	6,227,884			6,378,817
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Deposits
Demand	$	767,179			824,211
NOW		938,366			900,233
Savings		432,246			580,497
Money market		494,505			624,390
Certificates of deposit		1,235,936			1,024,074
Total deposits		3,868,232			3,953,405
Advances from FHLB		1,468,032			1,397,044
Securities sold under agreements to repurchase		46,350			58,265
Federal funds purchased and other short term borrowings		50,000			108,975
Subordinated debentures and bonds payable		26,098			26,654
Junior subordinated debentures		294,195			294,195
Other liabilities		74,744			80,958
Total liabilities		5,827,651			5,919,496
Stockholders’ equity:
Common stock		113			113
Additional paid-in capital		219,242			217,140
Retained earnings		186,436			236,150
Total stockholders’ equity before accumulated other comprehensive (loss) income		405,791			453,403
Accumulated other comprehensive (loss) income		(5,558	)		5,918
Total stockholders’ equity		400,233			459,321
Total liabilities and stockholders’ equity	$	6,227,884			6,378,817

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

																For the Nine
	For the Three Months Ended															Months Ended
(in thousands)	9/30/2008			6/30/2008			3/31/2008			12/31/2007			9/30/2007			9/30/2008			9/30/2007
INTEREST INCOME:
Interest and fees on loans	$	60,843			61,583			68,136			74,415			80,082			190,562			239,583
Interest on securities available for sale		9,966			10,553			10,490			8,075			4,835			31,009			14,024
Interest on tax exempt securities		—			—			14			1,266			3,838			14			11,434
Interest on tax certificates		8,893			4,926			3,565			3,939			4,589			17,384			12,366
Interest and dividends on taxable investments		1,482			1,425			1,527			1,727			1,552			4,434			4,804
Total interest income		81,184			78,487			83,732			89,422			94,896			243,403			282,211
INTEREST EXPENSE:
Interest on deposits		15,552			14,508			18,593			21,443			22,558			48,653			63,033
Interest on advances from FHLB		13,401			12,433			14,946			17,443			18,987			40,780			55,813
Interest on short-term borrowed funds		330			725			1,279			2,068			2,940			2,334			7,505
Interest on long-term debt		5,484			5,220			6,283			6,650			6,652			16,987			18,902
Total interest expense		34,767			32,886			41,101			47,604			51,137			108,754			145,253
NET INTEREST INCOME		46,417			45,601			42,631			41,818			43,759			134,649			136,958
Provision for loan losses		31,214			47,247			42,888			9,515			48,949			121,349			61,327
NET INTEREST INCOME AFTER PROVISION		15,203			(1,646	)		(257	)		32,303			(5,190	)		13,300			75,631
NON-INTEREST INCOME:
Service charges on deposits		23,924			24,466			24,014			26,342			25,894			72,404			76,297
Other service charges and fees		7,309			7,121			7,433			7,171			7,222			21,863			21,779
Securities activities, net		1,132			8,965			(4,738	)		(3,163	)		1,207			5,359			11,575
Gain on sales of loans		42			129			76			68			88			247			426
Income from unconsolidated subsidiaries		265			287			1,275			337			348			1,827			2,163
Other		2,524			2,908			2,579			1,690			1,863			8,011			6,618
Total non-interest income		35,196			43,876			30,639			32,445			36,622			109,711			118,858
NON-INTEREST EXPENSE:
Employee compensation and benefits		31,679			33,181			35,155			37,922			34,258			100,015			113,256
Occupancy and equipment		15,996			16,172			16,386			17,026			16,954			48,554			48,825
Advertising and business promotion		3,430			3,662			4,895			5,659			4,276			11,987			14,343
Professional fees		3,160			2,219			2,760			3,067			2,542			8,139			5,623
Check losses		2,094			2,101			2,718			3,547			3,341			6,913			7,929
Supplies and postage		1,080			1,282			1,006			1,502			1,159			3,368			4,644
Telecommunication		753			1,331			1,502			1,348			1,286			3,586			4,223
Impairment, restructuring and exit activities		522			5,952			(65	)		5,681			11,005			6,409			14,680
Other		9,936			7,839			5,676			6,720			6,858			23,451			20,826
Total non-interest expense		68,650			73,739			70,033			82,472			81,679			212,422			234,349
Loss from continuing operations before income taxes		(18,251	)		(31,509	)		(39,651	)		(17,724	)		(50,247	)		(89,411	)		(39,860	)
Benefit for income taxes		(7,269	)		(12,146	)		(15,087	)		(7,798	)		(20,637	)		(34,502	)		(19,774	)
Loss from continuing operations		(10,982	)		(19,363	)		(24,564	)		(9,926	)		(29,610	)		(54,909	)		(20,086	)
Discontinued operations		4,919			—			1,121			—			—			6,040			7,812
Net loss	$	(6,063	)		(19,363	)		(23,443	)		(9,926	)		(29,610	)		(48,869	)		(12,274	)

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

			For the Three Months Ended
(in thousands except percentages and per share data)			9/30/2008			6/30/2008			3/31/2008			12/31/2007			9/30/2007
Loans:
Residential real estate		$		2,010,749			2,086,519			2,162,421			2,196,552			2,245,138
Commercial real estate				1,320,678			1,292,627			1,307,236			1,317,578			1,346,842
Consumer				755,050			743,123			722,327			697,764			662,320
Commercial business				135,909			129,332			131,770			132,677			134,390
Small business				322,048			319,096			318,588			309,322			304,388
Total Loans				4,544,434			4,570,697			4,642,342			4,653,893			4,693,078
Investments — taxable				1,346,852			1,137,831			1,186,441			1,036,382			841,486
Investments — tax exempt				—			—			4,314			135,961			402,482
Total interest earning assets				5,891,286			5,708,528			5,833,097			5,826,236			5,937,046
Goodwill and core deposit intangibles				75,029			75,401			75,718			76,068			76,419
Other non-interest earning assets				430,683			450,999			440,961			451,397			465,427
Total assets		$		6,396,998			6,234,928			6,349,776			6,353,701			6,478,892
Tangible assets	(note 1)	$		6,321,969			6,159,527			6,274,058			6,277,633			6,402,473
Deposits:
Demand deposits		$		812,505			878,864			854,534			885,006			922,293
Savings				471,270			552,094			566,448			589,966			611,862
NOW				955,392			941,964			926,381			830,898			792,462
Money market				557,343			617,013			609,062			638,041			660,925
Certificates of deposit				1,138,615			917,133			992,078			1,015,940			996,415
Total deposits				3,935,125			3,907,068			3,948,503			3,959,851			3,983,957
Short-term borrowed funds				79,503			148,407			163,124			182,134			225,034
FHLB advances				1,598,111			1,389,835			1,423,746			1,368,242			1,398,245
Long-term debt				320,283			320,469			320,650			321,885			318,762
Total borrowings				1,997,897			1,858,711			1,907,520			1,872,261			1,942,041
Other liabilities				48,981			34,023			34,673			50,554			46,805
Total liabilities				5,982,003			5,799,802			5,890,696			5,882,666			5,972,803
Stockholders’ equity				414,995			435,126			459,080			471,035			506,089
Total liabilities and stockholders’ equity		$		6,396,998			6,234,928			6,349,776			6,353,701			6,478,892
Other comprehensive income (loss) in stockholders’ equity				(4,184	)		1,679			1,496			(3,562	)		(1,765	)
Tangible stockholders’ equity	(note 1)	$		344,150			358,046			381,866			398,529			431,435
Net Interest Margin				3.16	%		3.18	%		2.91	%		2.95	%		3.11	%
Period End
Total loans, net		$		4,405,098			4,442,529			4,483,305			4,524,188			4,586,625
Total assets				6,227,884			6,514,975			6,390,690			6,378,817			6,485,593
Total stockholders’ equity				400,233			408,206			433,896			459,321			471,889
Class A common shares outstanding				10,254,570			10,251,382			10,245,744			10,239,235			10,233,640
Class B common shares outstanding				975,225			975,225			975,225			975,225			975,225
Cash dividends				281,479			281,431			280,524			281,130			2,315,458
Common stock cash dividends per share				0.025			0.025			0.025			0.025			0.206
Closing stock price				8.20			8.80			19.55			20.50			43.35
High stock price for the quarter				15.00			20.75			29.00			48.00			46.26
Low stock price for the quarter				4.05			7.80			16.30			14.45			37.50
Book value per share				35.64			36.36			38.67			40.96			42.10

Bank Operations Business Segment
Condensed Statements of Operations (Unaudited)

																For the Nine
	For the Three Months Ended															Months Ended
(in thousands)	9/30/2008			6/30/2008			3/31/2008			12/31/2007			9/30/2007			9/30/2008			9/30/2007
Net interest income	$	51,195			49,923			48,005			47,291			49,235			149,123			152,219
Provision for loan losses		22,924			37,801			42,888			9,515			48,949			103,613			61,327
Net interest income after provision for loan losses		28,271			12,122			5,117			37,776			286			45,510			90,892
Non-interest income
Service charges on deposits		23,924			24,466			24,014			26,342			25,894			72,404			76,297
Other service charges and fees		7,309			7,121			7,433			7,171			7,222			21,863			21,779
Securities activities, net		1			1,960			341			861			613			2,302			1,446
Loss from real estate operations		—			(281	)		—			—			—			(281	)		(12	)
Gain on sales of loans		42			129			76			68			88			247			426
Income from unconsolidated subsidiaries		122			147			1,113			163			182			1,382			1,056
(Loss) gain on the sale of office properties, net		(88	)		40			(61	)		(564	)		(362	)		(109	)		(557	)
Other non-interest income		2,608			3,146			2,637			2,249			2,224			8,391			7,157
Total non-interest income		33,918			36,728			35,553			36,290			35,861			106,199			107,592
Non-interest expense
Employee compensation and benefits		30,353			32,118			34,243			37,221			34,244			96,714			111,536
Occupancy and equipment		15,993			16,171			16,383			17,023			16,951			48,547			48,816
Advertising and business promotion		3,388			3,564			4,861			5,596			4,221			11,813			14,088
Professional fees		2,696			2,004			2,260			2,969			2,444			6,960			5,297
Check losses		2,094			2,101			2,718			3,547			3,341			6,913			7,929
Supplies and postage		1,076			1,281			1,003			1,441			1,158			3,360			4,637
Telecommunication		748			1,326			1,496			1,342			1,283			3,570			4,210
Impairment, restructuring and exit activities		522			5,952			(65	)		5,681			11,005			6,409			14,680
Other		9,936			7,820			5,727			6,761			6,848			23,483			20,594
Total non-interest expense		66,806			72,337			68,626			81,581			81,495			207,769			231,787
Loss from bank operations business segment before income taxes		(4,617	)		(23,487	)		(27,956	)		(7,515	)		(45,348	)		(56,060	)		(33,303	)
Benefit for income taxes		(2,525	)		(9,428	)		(10,975	)		(4,143	)		(18,236	)		(22,928	)		(17,235	)
Net loss from bank operations business segment	$	(2,092	)		(14,059	)		(16,981	)		(3,372	)		(27,112	)		(33,132	)		(16,068	)

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

																	For the Nine
(in thousands except percentages			For the Three Months Ended														Months Ended
and per share data)		9/30/2008			6/30/2008			3/31/2008			12/31/2007			9/30/2007			9/30/2008			9/30/2007
Statistics:
Tax equivalent:
Average earning assets	$		5,770,265			5,569,690			5,669,461			5,653,913			5,750,192			5,670,172			5,702,702
Average interest bearing liabilities	$		4,839,138			4,610,344			4,712,913			4,656,897			4,718,381			4,721,230			4,620,695
Average tangible assets	$		6,187,300			6,002,728			6,085,957			6,080,693			6,194,549			6,092,344			6,138,565
Average tangible equity	$		486,523			466,141			467,952			481,495			507,963			473,584			505,111
Borrowings to deposits and borrowings	%		29.53			31.61			28.74			28.74			29.89			29.53			29.89
Tax equivalent:
Yield on earning assets	%		5.61			5.61			5.88			6.33			6.71			5.70			6.71
Cost of interest-bearing liabilities	%		2.45			2.46			3.02			3.54			3.80			2.64			3.72
Interest spread	%		3.16			3.15			2.86			2.79			2.91			3.06			2.99
Net interest margin	%		3.56			3.58			3.37			3.41			3.59			3.50			3.70
Performance:
Efficiency ratio	%		78.49			83.48			82.13			97.61			95.77			81.38			89.21
Efficiency ratio before impairment, restructuring and exit activities	%		77.88			76.61			82.21			90.81			82.84			78.87			83.56
Return on average tangible assets	%		(0.14	)		(0.94	)		(1.12	)		(0.22	)		(1.75	)		(0.73	)		(0.35	)
Return on average tangible equity	%		(1.72	)		(12.06	)		(14.52	)		(2.80	)		(21.35	)		(9.33	)		(4.24	)
Earning assets repricing:
Percent of earning assets that have fixed rates	%		53			52			53			54			54
Percent of earning assets that have variable rates	%		47			48			47			46			46
One year Gap	%		(2	)		1			3			(3	)		(9	)
Regulatory Capital Ratios
Total risk-based capital	%		11.75			11.77			11.83			11.63			11.93
Tier I risk-based capital	%		9.95			9.99			10.04			9.85			10.17
Core capital	%		6.89			6.82			6.87			6.94			7.20

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

		As of
(in thousands)		9/30/2008		6/30/2008		3/31/2008		12/31/2007		9/30/2007
ASSETS
Loans receivable, net	$		4,328,467		4,357,541		4,388,334		4,524,188		4,586,625
Investment securities			371,181		501,741		237,031		262,404		482,666
Available for sale securities			731,279		755,651		790,570		789,917		570,624
Goodwill			70,489		70,489		70,489		70,489		70,489
Core deposit intangible asset			4,375		4,711		5,047		5,397		5,747
Other assets			607,188		679,015		720,485		509,567		557,951
Total assets	$		6,112,979		6,369,148		6,211,956		6,161,962		6,274,102
LIABILITIES AND STOCKHOLDER’S EQUITY
Deposits
Demand	$		767,179		891,142		912,862		824,211		896,094
NOW			938,366		939,714		928,275		900,233		801,289
Savings			432,246		526,303		571,456		580,497		613,010
Money market			494,505		621,899		618,045		624,390		656,218
Certificates of deposit			1,235,936		955,921		964,976		1,024,074		1,002,197
Total deposits			3,868,232		3,934,979		3,995,614		3,953,405		3,968,808
Advances from Federal Home Loan Bank			1,468,032		1,657,036		1,477,040		1,397,044		1,417,047
Short term borrowings			127,041		135,200		108,009		170,433		245,895
Long term debt			26,098		26,287		26,467		26,654		29,125
Other liabilities			72,552		65,655		65,351		79,147		74,539
Total liabilities			5,561,955		5,819,157		5,672,481		5,626,683		5,735,414
Stockholder’s equity			551,024		549,991		539,475		535,279		538,688
Total liabilities and stockholder’s equity	$		6,112,979		6,369,148		6,211,956		6,161,962		6,274,102

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

	For the Three Months Ended
	September 30, 2008							September 30, 2007
(in thousands)	Average		Revenue/		Yield/			Average		Revenue/				Yield/
	Balance		Expense		Rate			Balance		Expense				Rate
Loans:
Residential real estate	$	2,010,749		27,275		5.43	%	$	2,245,138		30,901				5.51	%
Commercial real estate		1,229,755		17,687		5.75			1,346,842		27,519				8.17
Consumer		755,050		7,951		4.21			662,320		12,419				7.50
Commercial business		134,374		2,414		7.19			134,390		3,054				9.09
Small business		322,048		5,458		6.78			304,388		6,189				8.13
Total loans		4,451,976		60,785		5.46			4,693,078		80,082				6.83
Investments — tax exempt		—		—		—			390,906		5,765		(1)		5.90
Investments — taxable		1,318,289		20,159		6.12			666,208		10,580				6.35
Total interest earning assets		5,770,265		80,944		5.61	%		5,750,192		96,427				6.71	%
Goodwill and core deposit intangibles		75,029							76,419
Other non-interest earning assets		417,035							444,357
Total Assets	$	6,262,329						$	6,270,968
Deposits:
Savings	$	471,270		963		0.81	%	$	611,862		3,642				2.36	%
NOW		955,392		2,256		0.94			792,462		2,355				1.18
Money market		557,343		2,089		1.49			660,925		4,881				2.93
Certificates of deposit		1,138,615		10,244		3.58			996,415		11,679				4.65
Total interest bearing deposits		3,122,620		15,552		1.98			3,061,664		22,557				2.92
Short-term borrowed funds		92,319		378		1.63			229,366		2,998				5.19
Advances from FHLB		1,598,111		13,401		3.34			1,398,245		18,987				5.39
Long-term debt		26,088		418		6.37			29,106		632				8.61
Total interest bearing liabilities		4,839,138		29,749		2.45			4,718,381		45,174				3.80
Demand deposits		812,402							922,452
Non-interest bearing other liabilities		53,279							54,210
Total Liabilities		5,704,819							5,695,043
Stockholder’s equity		557,510							575,925
Total liabilities and stockholder’s equity	$	6,262,329						$	6,270,968
Net tax equivalent interest income/ net interest spread			$	51,195		3.16	%			$	51,253				2.91	%
Tax equivalent adjustment				—							(2,018	)
Net interest income				51,195							49,235
Margin
Interest income/interest earning assets						5.61	%								6.71	%
Interest expense/interest earning assets						2.05									3.12
Net interest margin (tax equivalent)						3.56	%								3.59	%

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

Bank Operations
Average Balance Sheet — Yield / Rate Analysis

	For the Nine Months Ended
	September 30, 2008							September 30, 2007
(in thousands)	Average		Revenue/		Yield/			Average		Revenue/			Yield/
	Balance		Expense		Rate			Balance		Expense			Rate
Loans:
Residential real estate	$	2,086,286		85,396		5.46	%	$	2,214,307		90,593			5.46	%
Commercial real estate		1,242,058		54,162		5.81			1,383,783		85,658			8.25
Consumer		740,221		26,778		4.82			634,925		35,619			7.48
Commercial business		131,055		7,178		7.30			145,759		9,846			9.01
Small business		320,328		16,873		7.02			295,211		17,867			8.07
Total loans		4,519,948		190,387		5.62			4,673,985		239,583			6.83
Investments — tax exempt		—		—		—			395,218		17,412	(1)		5.87
Investments — taxable		1,150,224		51,996		6.03			633,499		29,782			6.27
Total interest earning assets		5,670,172		242,383		5.70	%		5,702,702		286,777			6.71	%
Goodwill and core deposit intangibles		75,381							76,778
Other non-interest earning assets		422,172							435,863
Total Assets	$	6,167,725						$	6,215,343
Deposits:
Savings	$	529,723		4,265		1.08	%	$	582,714		9,613			2.21	%
NOW		941,297		6,837		0.97			781,911		5,616			0.96
Money market		594,338		7,674		1.72			662,990		13,608			2.74
Certificates of deposit		1,016,390		29,878		3.93			983,990		34,195			4.65
Total deposits		3,081,748		48,654		2.11			3,011,605		63,032			2.80
Short-term borrowed funds		142,181		2,490		2.34			196,953		7,722			5.24
Advances from FHLB		1,471,029		40,780		3.70			1,382,768		55,813			5.40
Long-term debt		26,272		1,336		6.79			29,369		1,897			8.64
Total interest bearing liabilities		4,721,230		93,260		2.64			4,620,695		128,464			3.72
Demand deposits		848,558							966,898
Non-interest bearing other liabilities		49,308							53,738
Total Liabilities		5,619,096							5,641,331
Stockholder’s equity		548,629							574,012
Total liabilities and stockholder’s equity	$	6,167,725						$	6,215,343
Net interest income/net interest spread				149,123		3.06	%				158,313			2.99	%
Tax equivalent adjustment				—							(6,094	)
Net interest income				149,123							152,219
Margin
Interest income/interest earning assets						5.70	%							6.71	%
Interest expense/interest earning assets						2.20								3.01
Net interest margin						3.50	%							3.70	%

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

Bank Operations Business Segment
Allowance for Loan Loss and Credit Quality

																	For the Nine
(in thousands)		For the Three Months Ended															Months Ended
		9/30/2008			6/30/2008			3/31/2008			12/31/2007			9/30/2007			9/30/2008			9/30/2007
Allowance for Loan Losses
Beginning balance	$		98,424			83,396			94,020			92,358			54,754			94,020			43,602
Charge-offs:
Residential real estate			(1,077	)		(1,027	)		(624	)		(255	)		(3	)		(2,728	)		(206	)
Commercial real estate			(4,965	)		(14,501	)		(40,591	)		(3,118	)		(9,444	)		(60,057	)		(9,444	)
Commercial business			—			—			—			—			—			—			—
Consumer			(7,684	)		(7,225	)		(4,836	)		(4,094	)		(1,689	)		(19,745	)		(2,971	)
Small business			(1,471	)		(464	)		(1,196	)		(534	)		(581	)		(3,131	)		(2,020	)
Total charge-offs			(15,197	)		(23,217	)		(47,247	)		(8,001	)		(11,717	)		(85,661	)		(14,641	)
Recoveries:
Residential real estate			75			192			—			—			—			267			15
Commercial real estate			—			—			—			—			—			—			304
Commercial business			9			3			26			14			29			38			848
Consumer			63			130			88			49			120			281			368
Small business			137			119			61			85			223			317			535
Total recoveries			284			444			175			148			372			903			2,070
Net charge-offs			(14,913	)		(22,773	)		(47,072	)		(7,853	)		(11,345	)		(84,758	)		(12,571	)
Transfer specific reserves to Parent			—			—			(6,440	)		—			—			(6,440	)		—
Provision for loan losses			22,924			37,801			42,888			9,515			48,949			103,613			61,327
Ending balance	$		106,435			98,424			83,396			94,020			92,358			106,435			92,358
Annualized net charge-offs to average loans	%		1.34			2.04			4.06			0.67			0.97			2.50			0.36

		As of
		9/30/2008		6/30/2008		3/31/2008		12/31/2007		9/30/2007
Credit Quality
Nonaccrual loans	$		89,742		77,901		55,790		178,591		165,369
Nonaccrual tax certificates			2,317		2,309		2,013		2,094		1,140
Real estate owned			20,054		20,298		19,784		17,216		17,159
Other repossessed assets			—		—		—		—		—
Total nonperforming assets			112,113		100,508		77,587		197,901		183,668
Nonperforming assets to total loans and other assets	%		2.36		2.05		1.67		4.10		3.74
Allowance for loan losses to total loans	%		2.40		2.21		1.86		2.04		1.97
Provision to average loans	%		2.06		3.38		3.70		0.82		4.17
Allowance to nonaccrual loans	%		118.60		126.34		149.48		52.65		55.85
Nonperforming loans to total loans	%		2.02		1.75		1.25		3.87		3.53
Nonperforming assets to reserves and stockholder equity	%		17.05		15.50		12.46		31.45		29.11

Parent Company Business Segment Activities
Condensed Statements of Operations — Unaudited

																For the Nine
	For the Three Months Ended															Months Ended
(in thousands)	9/30/2008			6/30/2008			3/31/2008			12/31/2007			9/30/2007			9/30/2008			9/30/2007
Net interest expense	$	(4,778	)		(4,324	)		(5,374	)		(5,473	)		(5,476	)		(14,476	)		(15,261	)
Provision for loan losses		8,290			9,446			—			—			—			17,736			—
Net interest income after provision for loan losses		(13,068	)		(13,770	)		(5,374	)		(5,473	)		(5,476	)		(32,212	)		(15,261	)
Non-interest income
Income from unconsolidated subsidiaries		143			140			162			174			167			445			1,107
Securities activities, net		1,131			7,005			(5,079	)		(4,024	)		594			3,057			10,129
Other		202			269			271			275			156			742			589
Non-interest income		1,476			7,414			(4,646	)		(3,575	)		917			4,244			11,825
Non-interest expense
Employee compensation and benefits		1,326			1,063			912			701			14			3,301			1,720
Advertising and business promotion		42			98			34			62			55			174			255
Professional fees		464			215			500			98			98			1,179			326
Other		210			290			229			300			173			729			820
Non-interest expense		2,042			1,666			1,675			1,161			340			5,383			3,121
Loss from parent company activities before income taxes		(13,634	)		(8,022	)		(11,695	)		(10,209	)		(4,899	)		(33,351	)		(6,557	)
Benefit for income taxes		(4,744	)		(2,718	)		(4,112	)		(3,655	)		(2,401	)		(11,574	)		(2,539	)
Net loss from parent company business segment	$	(8,890	)		(5,304	)		(7,583	)		(6,554	)		(2,498	)		(21,777	)		(4,018	)

Condensed Statements of Financial Condition — Unaudited

	As of
(in thousands)	9/30/2008		6/30/2008		3/31/2008		12/31/2007		9/30/2007
ASSETS
Cash	$	41,031		17,261		27,624		9,163		12,540
Securities		5,727		18,664		28,864		185,724		201,155
Investment in subsidiaries		634,266		638,679		634,447		535,281		538,691
Investment in unconsolidated subsidiaries		8,820		8,820		8,820		8,820		8,839
Other assets		9,482		21,006		30,672		16,339		8,466
Total assets	$	699,326		704,430		730,427		755,327		769,691
LIABILITIES AND STOCKHOLDERS’ EQUITY
Subordinated debentures and notes payable	$	294,195		294,195		294,195		294,195		294,195
Other liabilities		4,898		2,029		2,336		1,811		3,607
Total liabilities		299,093		296,224		296,531		296,006		297,802
Stockholders’ equity		400,233		408,206		433,896		459,321		471,889
Total liabilities and stockholders’ equity	$	699,326		704,430		730,427		755,327		769,691

Parent Company Business Segment
Allowance for Loan Loss and Credit Quality

Parent Company and Work-out Subsidiary

										For the Nine
(in thousands)		For the Three Months Ended								Months Ended
		9/30/2008			6/30/2008			3/31/2008		9/30/2008
Allowance for Loan Losses
Beginning balance	$		7,702			6,440			—		—
Charge-offs			(8,290	)		(8,184	)		—		(16,474	)
Specific reserves transfer from BankAtlantic			—			—			6,440		6,440
Provision for loan losses			8,290			9,446			—		17,736
Ending balance	$		7,702			7,702			6,440		7,702

		As of
		9/30/2008			6/30/2008			3/31/2008
Credit Quality
Nonaccrual loans	$		82,059			90,412			101,493
Specific reserves			(7,702	)		(7,702	)		(6,440	)
Nonaccrual loans, net	$		74,357			82,710			95,053

Consolidated BankAtlantic Bancorp and Subsidiaries
Nonperforming Assets and Credit Quality Statistics

(in thousands)		As of
		9/30/2008		6/30/2008		3/31/2008
Nonperforming Assets
Commercial real estate	$		132,840		138,808		130,645
Residential			23,545		18,208		15,141
Consumer			5,867		4,495		4,374
Commercial business			5,638		5,638		6,231
Small business			3,911		1,165		893
Total nonaccrual loans			171,801		168,314		157,284
Nonaccrual tax certificates			2,317		2,309		2,013
Real estate owned			20,054		20,298		19,784
Other repossessed assets			—		—		—
Total nonperforming assets, gross		$	194,172		190,921		179,081
Credit Quality Statistics
Nonperforming assets, gross to total loans and other assets	%		4.01		3.83		3.77
Allowance for loan losses to total loans	%		2.53		2.33		1.96
Provision to average loans	%		2.75		4.13		3.70
Allowance to nonaccrual loans	%		66.44		63.05		57.12