BankAtlantic Bancorp Reports Financial Results for the Second Quarter 2006

Alan B. Levan, Chairman and Chief Executive Officer ofBankAtlantic Bancorp commented, "In BankAtlantic, the second quarter'sresults are consistent with our long term strategy of growing ourbanking franchise, and with our focus on long term returns rather thanshort-term earnings. The quarter's performance also reflects theimpact of a $2.1 million loss at Ryan Beck, discussed in detail laterin this release, compared to a $13.0 million profit for thecorresponding 2005 quarter.

"As we have previously discussed, BankAtlantic's strategy includesan aggressive marketing program, new store expansion program, andextended hours 'convenience model.' Although these initiatives involveincremental costs that result in lower earnings than those of priorperiods, we continue to believe these costs will translate intoenhanced long term profitability and shareholder value.

"During the second quarter, demand deposits rose to a record levelof 29.2% of total deposits and low cost deposits (demand, savings, andNOW accounts) grew to a record 58.4% of total deposits. In spite ofthe continued general national declines in these deposits (which havesteadily declined since June, 2005), we believe BankAtlantic's growthin new low cost deposits is among the highest in the industry andcontinues to outperform the national trend by approximately 15%.

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

"Earlier during the second quarter, we announced that Ryan BeckHoldings, Inc., the parent company of Ryan Beck & Co., Inc., had fileda registration statement with the Securities and Exchange Commissionfor an initial public offering of shares of Ryan Beck Holdings, Inc.'sClass A Common Stock. The purpose of the proposed offering is tomonetize a portion of BankAtlantic Bancorp's investment in Ryan Beckthrough payment to BankAtlantic Bancorp of a special dividend fundedby a portion of the net proceeds. While we remain intent on monetizingsome portion of our investment in Ryan Beck, we have postponed thepreviously announced initial public offering due to a combination ofcurrent equity market conditions and Ryan Beck's weak recent financialperformance. At this point, we anticipate proceeding with the offeringwhen market conditions permit and results at Ryan Beck improve.

"As part of our on-going stock repurchase program, we bought250,000 shares of our stock in market transactions during the quarter.

Commentary on Business Segment Operations:

BankAtlantic:

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

"At quarter end, 'total bank' and 'same store' low cost depositbalances increased 11.8% and 9.6%, respectively, vs. the secondquarter 2005, representing a $236 million increase in low cost depositbalances over the second quarter 2005. While these results are lowerthan recent growth rates at BankAtlantic, we believe that growth ofnew accounts has been significantly offset by declines in averagebalances in our 'legacy' customer base. We believe the decline inbalances in legacy accounts results from external issues, includingthe impact of higher interest rates, competition from alternativeinvestment products, significantly increased energy prices, and othersimilar 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 ourstrategy of using the growth in low cost deposits to reduceborrowings, and as a result, the ratio of borrowings to total depositsand borrowings at quarter end improved to 29%, down from 38% in thesecond quarter of 2005, although up slightly from the immediatelypreceding quarter. Our longer term expectation is for this ratio totrend 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 indeposit service charges and other fees. Non-interest expense of $72.2million was $13.9 million, or 24% greater than the correspondingquarter of 2005. The growth in expenses from the prior year waslargely the result of an $8.9 million (32%) increase in personnelcosts, and a $3.4 million (34%) increase in occupancy and equipmentexpense, again reflecting our growth initiatives and store expansionstrategy. Advertising expense increased $1.2 million (19%) from theprior year, reflecting our aggressive program to attract low costdeposits.

"The tax equivalent net interest margin was 4.17%, improved from4.11% in the first quarter of 2006 and 3.90% in the correspondingquarter of 2005. (All references to net interest margin exclude loanparticipations sold previously recognized as secured borrowings.) Webelieve the margin improvement is particularly significant in light ofthe continued flatness of the yield curve. Although further marginimprovement will largely depend on the future pattern of interestrates, we continue to believe our high level of low cost deposits andthe expected growth in those deposits should result in a gradualfurther improvement in BankAtlantic's margin.

"Credit quality remained good during the second quarter, with theratio of non-performing loans to total loans decreasing from 0.14%three months ago to 0.12% at June 30, 2006. The ratio ofnon-performing assets to total loans plus other real estate alsodeclined modestly during the same period to 0.17%. The allowance forloan losses (ALL) was unchanged from the March 2006 quarter, remainingat $42 million.

"During the quarter BankAtlantic announced its store expansionprogram for the next two years, including the anticipated opening of20 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 openedin 2006 has met or exceeded our expectations for deposit growth, andwe are encouraged with the progress in incremental contribution bythese stores.

Ryan Beck & Co.:

"During the second quarter of 2006, Ryan Beck & Co. recorded a netloss of $2.1 million compared to a profit of $13.0 million in thecomparable quarter of 2005. On a per share basis, this is equivalentto a $0.03 per diluted share loss, compared to a per diluted sharecontribution of $0.21 in the 2005 quarter. We believe the loss waslargely due to continued weakness in its capital markets andinvestment banking activities, as well as the compensation costs anddirect 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 onevery large investment banking transaction which contributedsignificant investment banking fees and capital markets commissions tothe quarter's performance. We anticipate an improvement in the RyanBeck performance in the second half of 2006, as Ryan Beck's 2005expansion initiatives are expected to produce better results.

"Retail brokerage activity, which involves providing wealthmanagement services to the mass affluent market, had second quarterrevenue of $36.2 million compared to $35.2 million for the secondquarter of 2005. Total client assets have risen to a record high $19billion. During the past 12 months, this area successfully recruited56 experienced Financial Consultants.

"Revenue from capital markets activities was $14.5 millioncompared to $20.4 million for the second quarter of 2005. Thisdecrease was due to the large investment banking transaction in 2005,and excluding that transaction from 2005 results, capital markets hadhigher revenue in 2006.

"Investment banking activities resulted in second quarter revenueof $3.4 million compared to $30.3 million for the second quarter 2005.This decrease resulted principally from the large 2005 underwritingtransaction along with decreased activity in Ryan Beck's principalmarkets."
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


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

BankAtlantic Bancorp will host an investor and mediateleconference call and webcast on Thursday, July 20, 2006, at 11:00a.m. (Eastern Time).

Teleconference Call Information:

To access the teleconference call in the U.S. and Canada, the tollfree number to call is 1-800-968-8156. International calls may beplaced to 706-634-5752. Domestic and international callers mayreference PIN number 2645022.

A replay of the conference call will be available beginning twohours 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. andCanada, the toll free number to call is 1-800-642-1687. Internationalcalls for the replay may be placed at 706-645-9291. The replay digitalPIN number for both domestic and international calls is 2645022.

Webcast Information:

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

BankAtlantic Bancorp's second quarter, 2006 earnings results pressrelease and financial summary, as well as the Supplemental Financials(a detailed summary of significant financial events and extensivebusiness segment financial data), will be available on its website at:http://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 earningsresults press release and financial summary, and the SupplementalFinancials will also be made available upon request via fax, email, orpostal service mail. To request a copy, contact BankAtlantic Bancorp'sInvestor Relations department using the contact information listedbelow.

About BankAtlantic Bancorp:

BankAtlantic Bancorp (NYSE:BBX) is a diversified financialservices holding company and the parent company of BankAtlantic andRyan Beck & Co. Through these subsidiaries, BankAtlantic Bancorpprovides a full line of products and services encompassing consumerand commercial banking, brokerage and investment banking.

About BankAtlantic:

BankAtlantic, "Florida's Most Convenient Bank," is one of thelargest financial institutions headquartered in Florida and provides acomprehensive offering of banking services and products via its broadnetwork of community stores and its online banking division -BankAtlantic.com. BankAtlantic has 81 stores and operatesapproximately 250 conveniently located ATMs. BankAtlantic is open 7days a week and offers holiday hours, extended weekday hours,including several stores open until midnight, Totally Free OnlineBanking & Bill Pay, 24/7 Customer Service Center, Totally Free ChangeExchange coin counters and free retail and business checking with afree gift.

About Ryan Beck & Co.:

Founded in 1946, Ryan Beck & Co., Inc. provides financial adviceand innovative solutions to individuals, institutions and corporateclients through the activities of approximately 1,100 employees in 43offices located in 14 states. For individual investors, the firm'sPrivate Client Group provides a full range of financial services,including investment consulting, retirement plans, insurance andinvestment advisory services. Institutional clients benefit from themarket making, underwriting and distribution activities of the firm'sexperienced Capital Markets Group, which encompasses equity and fixedincome trading and institutional sales as well as research. Throughits Investment Banking Group, Ryan Beck raises capital and providesfinancial advisory services to financial institutions, middle marketcompanies and municipalities.
For further information, please visit our websites:
http://www.BankAtlanticBancorp.com
http://www.BankAtlantic.com
http://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:
http://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
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

Except for historical information contained herein, the mattersdiscussed in this press release contain forward-looking statementswithin the meaning of Section 27A of the Securities Act of 1933, asamended (the "Securities Act"), and Section 21E of the SecuritiesExchange Act of 1934, as amended (the "Exchange Act"), that involvesubstantial risks and uncertainties. When used in this press release,the words "anticipate," "believe," "estimate," "may," "intend,""expect" and similar expressions identify certain of suchforward-looking statements. Actual results, performance, orachievements could differ materially from those contemplated,expressed, or implied by the forward-looking statements containedherein. These forward-looking statements are based largely on theexpectations of BankAtlantic Bancorp, Inc. ("the Company") and aresubject to a number of risks and uncertainties that are subject tochange based on factors which are, in many instances, beyond theCompany's control. These include, but are not limited to, risks anduncertainties associated with: the impact of economic, competitive andother factors affecting the Company and its operations, markets,products and services; credit risks and loan losses, and the relatedsufficiency of the allowance for loan losses, including the impact onthe credit quality of our loans, of changes in the commercial realestate market in our trade area; changes in interest rates and theeffects of, and changes in, trade, monetary and fiscal policies andlaws including their impact on the BankAtlantic's net interest margin;adverse conditions in the stock market, the public debt market andother capital markets and the impact of such conditions on ouractivities and the value of our assets; BankAtlantic's seven-daybanking initiatives, new store expansion program, and other growth,marketing or advertising initiatives not resulting in continued growthof low cost deposits or producing results which justify their costs;successfully opening the anticipated number of new stores in 2006 and2007 and achieving growth and profitability at the stores; and theimpact of periodic testing of goodwill and other intangible assets forimpairment. Past performance, actual or estimated new account openingsand growth rate may not be indicative of future results. Further, thispress release contains forward-looking statements with respect to RyanBeck & Co., which are subject to a number of risks and uncertaintiesincluding but not limited to the risks and uncertainties associatedwith its operations, products and services, changes in economic orregulatory policies, its ability to recruit and retain financialconsultants, the volatility of the stock market and fixed incomemarkets, as well as its revenue mix, the success of new lines ofbusiness, including that the expansion of its municipal finance,investment banking and capital markets areas, including the associatedincreased headcount, will produce results which justify the increasedexpenses; and additional risks and uncertainties that are subject tochange and may be outside of Ryan Beck's control. Moreover, this pressrelease also contains forward-looking statements with respect to thepursuit of a financial transaction regarding the Company's investmentin Ryan Beck, which are subject to a number of risks and uncertaintiesincluding but not limited to the fact that a financial transaction maynot be consummated when anticipated, if at all, or may be consummatedon terms different than those currently contemplated. In addition tothe risks and factors identified above, reference is also made toother risks and factors detailed in reports filed by the Company withthe Securities and Exchange Commission. The Company cautions that theforegoing factors are not exclusive.
BankAtlantic Bancorp, Inc. and Subsidiaries
Summary of Selected Financial Data (unaudited)

For the Six
For The Three Months Ended Months Ended
--------------------------------------- ---------------
6/30 3/31 12/31 9/30 6/30 6/30 6/30
2006 2006 2005 2005 2005 2006 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
(b)
(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 (a) $ 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 (a) $ 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

(a) 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.

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

For the Six
For The Three Months Ended Months Ended
--------------------------------------- ---------------
(in 6/30 3/31 12/31 9/30 6/30 6/30 6/30
thousands) 2006 2006 2005 2005 2005 2006 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
======= ======= ======= ======= ======= ======= =======
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 3/31 12/31 9/30 6/30
2006 2006 2005 2005 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 - 125,293 134,080 147,633 164,778
Long-term debt
(note 3) 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