FORT LAUDERDALE, Fla., Jul 29, 2008 (BUSINESS WIRE) ----BankAtlantic Bancorp, Inc. (NYSE:BBX) today reported a net loss from continuing operations of ($19.4) million, or ($0.35) per diluted share for the quarter ended June 30, 2008, representing a 21.2% improvement compared to the net loss of ($24.6) million or ($0.44) per diluted share for the first quarter of 2008. BankAtlantic Bancorp ("the Company") reported net income of $11.7 million, or $0.20 per diluted share, for the second quarter of 2007.

BankAtlantic, the banking subsidiary of BankAtlantic Bancorp, reported a net loss of ($14.1) million for the quarter ended June 30, 2008 compared to a net loss of ($17.0) million for the first quarter of 2008, a 17.2% improvement, and net income of $10.4 million for the second quarter of 2007. BankAtlantic's second quarter 2008 pre-tax core operating earnings (defined as pre-tax earnings before the impact of loan loss provisions, impairment, restructuring and exit activities) was $20.3 million, versus $17.2 million in the comparable 2007 period, an 18% improvement. BankAtlantic's second quarter 2008 pre-tax core operating earnings rose 36.8%, up from $14.8 million in the first quarter of 2008. Loan loss provisions, impairment, restructuring and exit activity expenses aggregated $43.8 million in the second quarter of 2008, $6.0 million in the second quarter of 2007 and $42.8 million in the first quarter of 2008.

BankAtlantic Bancorp's Chairman and Chief Executive Officer, Alan B. Levan, commented, "It is generally hard to find good news in bad news but this is one of those circumstances. While there is no question that many of our loyal customers are hurting -- and their pain causes us pain -- we are beginning to see early signals that segments of the environment are stabilizing and upcoming and meaningful government support for the economy is materializing. We are hopeful that the healing process has begun for our customers and for us. Our core operating earnings are showing marked improvement and our aggressive recognition of credit issues when the tidal wave hit last year appears to be paying off. Also, while we clearly experienced significant credit losses, we are pleased that our decisions over the last few years to avoid many of the investments that have severely hurt so many institutions has left us better off than many banks and thrifts who are not only dealing with the kind of core credit issues we have, but are also having to address the market that now exists for exotic assets.

"Our desirable position in this awful market is not an accident. During its 56 years serving Florida, BankAtlantic has experienced and successfully navigated through a number of economic and real estate downturns. Despite the noise in some quarters driven by misinformation, bad information, and simply irresponsible reporting disconnected from fact, BankAtlantic, with its strong core of retail customers, is well positioned to emerge from the current economic downturn stronger, leaner, wiser and more profitable.

"The reported earnings reflect the financial results of BankAtlantic Bancorp, BankAtlantic's holding company. In light of the current volume of misinformation being circulated, it is important to note that it is our subsidiary, BankAtlantic, which enjoys federal deposit insurance. Our investment in that subsidiary financial institution is critical to BankAtlantic Bancorp's success. For the purpose of evaluating the safety and soundness of an insured entity, however, BankAtlantic is evaluated based on its own financials, independent from the consolidated financials of BankAtlantic Bancorp. We remain pleased to report on the financial condition of both our subsidiary as well as BankAtlantic Bancorp.

"As of June 30, 2008, BankAtlantic remains in every measurable category a 'well capitalized' institution under all regulatory standards. Its total risk based capital ratio is 11.77%, Tier 1 risk based capital ratio is 9.99%, tangible capital ratio is 6.82%, and core capital is 6.82%; all exceeding the 'well capitalized' standard for the respective capital ratios. Its ratio of non-performing loans to total loans is 1.75%, and its ratio of non-performing assets to its capital and reserves is 15.5%. While market conditions have driven those ratios higher than we would like, they are both better than industry averages today, and, we believe, represent a significant accomplishment considering the state of the Florida economy and the problems facing other institutions. BankAtlantic is sound, strong and has a long and bright future to look forward to, built on the high level of service it provides to its loyal customers in its dynamic retail network.

"BankAtlantic's residential lending practices have never included subprime, option-arm, negative amortization or similar products. We believe that is why BankAtlantic's $2.0 billion Residential loan portfolio has experienced net losses that appear to be significantly below standard industry comparison. In addition, BankAtlantic's investment portfolio does not include any commercial paper, collateralized debt obligations, structured investment vehicles, Fannie Mae or Freddie Mac equity or debt securities, or investments otherwise considered high-risk. The decisions to forego the potential profits earned by others on these types of investments have in the longer term proven wise.

"Early on, we recognized credit issues in certain segments of our loan portfolios. We believe that these issues are largely attributable to the economic downturn and the decline of the Florida residential real estate markets. We also believe that we have made significant progress since the start of the current real estate crisis through the second quarter of 2008. As is detailed below, net interest income, non-interest income and core operating earnings have all increased. Core deposits (DDA, NOW and Savings) have increased. Non-interest expenses have declined and charge-offs in commercial real estate have declined.

"BankAtlantic's internal capital projections indicate continued 'well capitalized' ratios without additional capital, even if it is necessary to absorb additional charge-offs. Having said that, and despite our belief that our government has and will use the tools to keep our economy from slipping significantly further, we are also planning for a worst case economic scenario we hope will never occur. Simply put, notwithstanding what likely will happen, we must plan for what could happen and for the most dire of circumstances affecting our customers.

"The time to raise capital is when you might need it but do not then need it. This is that time. Accordingly, we have decided to pursue raising additional capital through a shareholder rights offering of Common Stock to the Company's shareholders which we are publicly announcing today in a separate press release. Offering our stock directly to our existing shareholders at a discount to the market will give every shareholder the opportunity to participate and acquire shares on the same terms. We believe this is the fairest and most equitable approach for our current shareholders.

"We appreciate the support our company has enjoyed over the years from its customers, shareholders, and employees. As dark as it has been for the economy during this year, we have seen, survived and prospered through much worse. We will do so now as well, as we work to make certain that those who believe in the future of this company are rewarded for having done so."

BankAtlantic Highlights:

BankAtlantic Performance:

Net Income - BankAtlantic's Chief Executive Officer, Jarett S. Levan, commented, "Despite the losses associated with our loan portfolios, we have made significant progress in improving core operating earnings.

"Year-to-date, pre-tax core operating earnings, which exclude the impact of loan loss provisions and impairment, restructuring and exit activity, were $35.1 million versus $28.1 million at June 30, 2007, representing a 24.9% improvement. As stated above, the second quarter 2008 pre-tax core operating earnings were $20.3 million, a 36.8% improvement over $14.8 million reported for the first quarter of 2008. Loan loss provisions, impairment, restructuring, exit activity expenses and tax provisions, aggregated ($66.1) million and ($17.1) million for the six months ended June 30, 2008 and 2007, respectively, and ($34.3) million and ($31.8) million for the three months ended June 30, 2008 and March 31, 2008, respectively. Details for each period are provided in the supplementary financial statements included with this press release. We believe these improvements reflect management's success in reducing operating expenses and improving profitability in the core business in spite of the challenges in the current economic environment.

Deposit Accounts and Balances - "Over 75% of BankAtlantic's $3.9 billion in total deposits at June 30, 2008 is comprised of non-CD balances, which we believe speaks to the strength and stability of our deposit base and franchise. Total Bank core deposit balances, representing Demand, NOW and Savings accounts, increased $52.2 million year-to-date, compared to $109.6 million for the comparable 2007 period, which we believe is a result of the impact of the economic environment on our customers.

Net Interest Margin - "Net interest income for the second quarter of 2008 was $49.9 million compared to $48.0 million in the previous quarter and $50.9 million in the corresponding 2007 quarter. The tax equivalent net interest margin was 3.58% in the second quarter of 2008, up 21 basis points, compared to 3.37% in the first quarter of 2008, and 3.72% in the corresponding quarter of 2007. The decline from the 2007 quarter was due primarily to competitive pricing pressures in this interest rate environment and the impact of non-performing assets. Additionally, average earning assets decreased $99.8 million and $120.8 million compared to the first quarter of 2008 and the second quarter of 2007, respectively, due to our conscious decision to slow loan growth in support of capital preservation and credit risk management initiatives.

Non-interest income - "Non-interest income for the second quarter of 2008 was $36.7 million, a 3.3% increase over the first quarter of 2008 and essentially flat with the second quarter of 2007. Total non-interest income for the second quarter was 42% of total income. Approximately 67% of our non-interest income is generated directly by our deposit account base, representing what we believe is a consistent and stable source of income for BankAtlantic.

Non-interest expense - "We remain committed to a multi-year program to create a more efficient operating platform. Recurring non-interest expense in the quarter continued to show material improvement from prior periods, as we completed the early stages of this initiative. Year-to-date, excluding impairment, restructuring and exit activity charges of $5.8 million in 2008 and $3.7 million in 2007, non-interest expense improved $11.5 million or 7.8% from the 2007 year-to-date period. Excluding impairment, restructuring and exit activity charges of $1.1 million in the second quarter of 2007 and of $6.0 million in the second quarter of 2008, non-interest expense during the second quarter of 2008 was $66.4 million, a decline of $4.0 million or 5.7% from the comparable 2007 quarter. Excluding impairment, restructuring and exit activity recoveries of ($0.1) million in the first quarter of 2008 and charges of $6.0 million in the second quarter of 2008, non-interest expense during the second quarter of 2008 decreased $2.4 million or 3.4% from the first quarter of 2008. Total non-interest expense was $72.3 million in the second quarter of 2008, compared to $71.5 million in the second quarter of 2007 and $68.6 million in the first quarter of 2008.

"Through reductions in staff and normal attrition we have reduced headcount by 27.3% since January 2007. These expense reductions were achieved despite absorbing incremental direct expense, year-over-year, related to 31 new stores opened from 2005 to date and operating expenses associated with our recently sold Central Florida stores.

Credit Risk Management:

Credit - "BankAtlantic experienced net charge-offs of $22.8 million in the second quarter of 2008, representing a 51.6% improvement over first quarter 2008 net charge-offs. This was largely the result of the performance of our Commercial Real Estate portfolio, where net charge-offs for the second quarter of 2008 were $14.5 million ($13.8 million of which was related to one loan), an improvement of over $26.1 million compared to the $40.6 million charged-off in the first quarter of 2008. Non-accrual loans were re-appraised during the first half of this year and the valuation adjustments are reflected in these charge-offs and specific reserves. The quarter's net charge-offs also included Consumer loans of $7.1 million, Residential loans of $0.8 million, and Small Business loans of $0.3 million. Commercial business loans did not have any charge-offs in this quarter or in the comparable 2007 period.

"The provision for loan loss in the second quarter of 2008 was $37.8 million, as we increased our allowance for loan losses to a total of $98.4 million (representing 2.21% of total loans), primarily reflecting additional specific reserves in our Commercial Real Estate portfolio related to recent valuation updates and increases in our Consumer portfolio reserves. The allowance coverage of total non-accrual loans was 126.34% at June 30, 2008, and the ratio of non-performing loans to total loans at June 30, 2008 was 1.75%.

Commercial Real Estate Loans - "The Bank's Commercial Real Estate loan portfolio at June 30, 2008 totaled $1.3 billion, including the following loan categories which we believe have the most exposure to declines in the real estate market:

"Builder land bank loans: This category of 7 loans aggregates $64.0 million; 2 of the loans, totaling $17.6 million, are on non-accrual.

"Land acquisition and development loans: This category of 26 loans aggregates $172.3 million; one loan, totaling $3.2 million, is on non-accrual.

"Land acquisition, development and construction loans: This category of 18 loans aggregates $88.1 million; 3 of these loans, totaling $24.7 million, are on non-accrual.

"These non-accrual commercial real estate loans are reflected on the Bank's financial statements at approximately 50% of their principal balances before charge-offs or specific reserves. Additionally, we would note that these three loan categories that we identified in the third quarter of 2007 have been the source for 84% of the existing non-accrual commercial real estate loan balances and 99.7% of commercial real estate charge-offs since the third quarter of 2007. Further, loans identified in the third quarter 2007 as non-accrual have been the source of 79.2% of the total charge-offs since that time. We expect continued pressure on this portfolio throughout 2008, including the possibility of additional non-accrual loans, provisions and charge-offs. However, we believe the current trends in our Commercial Real Estate portfolio appear to be stabilizing.

Purchased Residential Loans - "Our Purchased Residential loan portfolio was $2.0 billion at quarter-end, representing 44.4% of the Bank's total loans. This portfolio consists of approximately 6,500 first mortgage loans secured by properties in every state of 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 with 92% located outside of Florida, 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 33.1%. As of June 30, 2008, the average time to payment reset was 61 months. Quarter-end delinquencies, including non-accrual loans, were 1.33% of the unpaid principal balance, versus 1.17% in the previous quarter. Non-accrual balances in this portfolio increased to $16.7 million at June 30, 2008 from $13.2 million at March 31, 2008. Based on more recently obtained property valuations, the weighted average loan-to-value of the non-accrual loan balances on June 30, 2008 was 74.8%, and the year-to-date annualized charge-offs remain low at 0.16%. While this portfolio is experiencing greater pressure than in the past, we believe that it remains a strong performing portfolio.

Consumer Loans - "Our Consumer loan portfolio had outstanding balances of $734.4 million at quarter-end, with home equity loans representing 96.4% 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 19% 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 74.4%, and an updated weighted average Beacon score of borrowers of approximately 737. Total delinquencies in this portfolio, including non-accruals, at June 30, 2008 were 2.17% versus 1.76% at March 31, 2008. Non-accrual balances in this portfolio were essentially flat at $4.5 million at June 30, 2008 compared to $4.4 million at March 31, 2008. During the first half of 2008, we decreased our consumer loan available commitments by $122.7 million in an effort to reduce overall exposure. Notwithstanding our efforts, based on current economic conditions, we anticipate that we will continue to experience elevated levels of delinquencies and charge-offs in this portfolio during the balance of the year.

Capital Strength:

Capital - "At June 30, 2008, BankAtlantic's Core, Tier I and Total Capital ratios were 6.82%, 9.99% and 11.77%, respectively, exceeding 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 15.5% at June 30, 2008. BankAtlantic Bancorp contributed $35.0 million in capital to BankAtlantic during the second quarter of 2008, and has contributed $55.0 million of capital year-to-date, offsetting the impact of the losses and further strengthening the Bank's already well-capitalized base.

"Florida remains one of the best banking markets in the country. We are positioned to take advantage of opportunities in this market as we emerge from this economic cycle with a more efficient operating platform and improved core operating earnings." concluded Jarett S. Levan.

Parent:

Stifel Investment - BankAtlantic Bancorp's Chairman and CEO, Alan B. Levan, further commented, "During the quarter, we completed the sale of all of our remaining shares of Stifel Financial Corp. common stock for proceeds of $15.7 million, representing a gain of $3.7 million. As a result of Stifel's recent three for two stock split, we currently hold warrants to purchase 722,586 shares of Stifel Financial Corp. common stock at an exercise price of $24.00 per share. BankAtlantic Bancorp recorded a $4.5 million gain associated with the change in value of the warrants in the second quarter of 2008, versus the $6.1 million gain recorded in the second quarter of 2007.

Asset Workout Subsidiary - "As previously announced, during the first quarter of 2008, BankAtlantic Bancorp formed a wholly-owned asset workout subsidiary. BankAtlantic transferred approximately $101.5 million of non-accrual loans and $6.4 million in specific loan reserves to the workout subsidiary on March 31, 2008 in exchange for a cash payment of $94.8 million. 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 (the Parent company) 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 June 30, 2008, the loans held by the workout subsidiary totaled $92.8 million with specific loan reserves of $7.7 million. During the second quarter, primarily as a result of updated valuations, these loans were charged-down by $8.2 million, and BankAtlantic Bancorp recorded a provision for loan losses of $9.4 million. Additionally, during the quarter, one loan for $2.4 million returned to accrual status. The breakdown of the non-accrual loans held by the Company's asset workout subsidiary is as follows:

"Builder land bank loans: Four loans aggregating $29.0 million.

"Land acquisition and development loans: Four loans aggregating $19.5 million.

"Land acquisition, development and construction loans: Nine loans aggregating $29.3 million.

"Other Commercial real estate loans: Three loans aggregating $7.0 million.

"Commercial business loans: Three loans aggregating $5.6 million.

"These commercial real estate non-accrual loans are carried on BankAtlantic Bancorp's books at approximately 63.3% 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.

BankAtlantic Bancorp:

Cash Dividend - "BankAtlantic Bancorp's Board of Directors declared a cash dividend of $0.005 per share to all shareholders of record of its Class A and Class B Common Stock at the close of trading on July 3rd, 2008. This quarter's dividend declaration marked BankAtlantic Bancorp's 60th consecutive quarterly dividend payment," concluded Alan B. Levan.

Financial Highlights:

Second Quarter, 2008 Compared to Second Quarter, 2007

BankAtlantic Bancorp - consolidated:

-- (Loss) income from continuing operations of ($19.4) million versus income of $11.7 million

-- Diluted (loss) earnings per share from continuing operations of ($0.35) versus $0.20

-- Return on average tangible equity from continuing operations was (21.63%) versus 10.47%

-- Book value per share was $7.27 versus $8.83

BankAtlantic:

-- Business segment (loss) income was ($14.1) million versus income of $10.4 million

-- Pre-tax operating earnings (pre-tax loss before impact of provision for loan losses, impairments, restructuring and exit activities of $43.8 million for the 2008 quarter and $6.0 million for the 2007 quarter) was $20.3 million versus $17.2 million

-- Over 40,000 new core deposit accounts opened

-- Return on average tangible assets was (0.94%) versus 0.68%

-- Return on average tangible equity was (12.06%) versus 8.26%

-- Tax equivalent net interest margin decreased to 3.58% versus 3.72%

-- Non-interest income remained flat at $36.7 million

-- Non-interest expense was $66.4 million versus $70.4 million, a decrease of 5.70%, before the impairment, restructuring and exit activities of $6.0 million in 2008 and $1.1 million in 2007

Second Quarter, 2008 Compared to First Quarter, 2008

BankAtlantic Bancorp - consolidated:

-- (Loss) from continuing operations of ($19.4) million versus ($24.6) million

-- Diluted (loss) per share from continuing operations of ($0.35) versus ($0.44)

-- Return on average tangible equity from continuing operations was (21.63%) versus (25.73%)

-- Book value per share was $7.27 versus $7.73

BankAtlantic:

-- Business segment (loss) was ($14.1) million versus ($17.0) million

-- Pre-tax operating earnings (pre-tax loss before impact of provision for loan losses, impairments, restructuring and exit activities of $43.8 million for the second quarter and $42.8 million for the first quarter) was $20.3 million versus $14.8 million

-- Return on average tangible assets was (0.94%) versus (1.12%)

-- Return on average tangible equity was (12.06%) versus (14.52%)

-- Tax equivalent net interest margin increased to 3.58% versus 3.37%

-- Non-interest income was $36.7 million versus $35.6 million

-- Non-interest expense was $66.4 million versus $68.7 million, a decrease of 3.43%, before the impairment, restructuring and exit activities of $6.0 million in the second quarter and a $0.1 million recovery during the first quarter

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

BankAtlantic Bancorp - consolidated:

-- (Loss) income from continuing operations was ($43.9) million versus income of $9.5 million

-- Diluted (loss) earnings per share from continuing operations was ($0.78) versus $0.16

-- Return on average tangible equity from continuing operations was (23.75%) versus 4.24%

BankAtlantic:

-- Business segment (loss) income was ($31.0) million versus income of $11.0 million

-- Pre-tax operating earnings (pre-tax loss before impact of provision for loan losses, impairments, restructuring and exit activities of $86.5 million year-to-date 2008 and $16.1 million year-to-date 2007) was $35.1 million versus $28.1 million

-- Nearly 103,000 new core deposit accounts opened

-- Return on average tangible assets was (1.03%) versus 0.36%

-- Return on average tangible equity was (13.29%) versus 4.39%

-- Non-interest income was $72.3 million versus $71.7 million, an increase of 0.77%

-- Non-interest expense, before the $5.8 million and $3.7 million of impairment, restructuring and exit activities during the 2008 and 2007 periods, was $135.1 million versus $146.6 million, a decrease of 7.8%

Financial data is provided in the supplemental financial tables included with this release for both BankAtlantic (bank only) as well as the Parent- BankAtlantic Bancorp. Additionally, BankAtlantic financial information is provided quarterly to the OTS through Thrift Financial Reports, available to the public through the OTS and FDIC websites.

BankAtlantic Bancorp plans to host an investor and media teleconference call and webcast on Wednesday, July 30, 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 54889866.

A replay of the conference call will be available beginning two hours after the call's completion through 5:00 p.m. Eastern Time, Wednesday, August 13, 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 54889866.

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=49472. The archive of the teleconference call will be available through 5:00 p.m. Eastern Time, Wednesday, August 13, 2008.

BankAtlantic Bancorp's second quarter, 2008 financial results press release and financial summary, as well as the Supplemental Financials (a detailed summary of significant financial events and extensive business segment financial data), will be available on its website at: www.BankAtlanticBancorp.com.

-- To view the financial summary, access the "Investor Relations" section and click on the "Quarterly Financials" navigation link.

-- To view the Supplemental Financials, access the "Investor Relations" section and click on the "Supplemental Financials" navigation link.

Copies of BankAtlantic Bancorp's second quarter, 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.

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.

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: ----------------------------------------------------------------------
   Boardroom Communications Caren Berg Phone: 954-370-8999, Fax: 954-370-8892 Email: cberg@boardroompr.com 

Except for historical information contained herein, the matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), that involve substantial risks and uncertainties. When used in this press release and in any documents incorporated by reference herein, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify certain of such forward-looking statements. Actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of BankAtlantic Bancorp, Inc. ("the Company") and are subject to a number of risks and uncertainties that are subject to change based on factors which are, in many instances, beyond the Company's control. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, products and services, including the impact of 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 on 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 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 capital 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 discipline initiative and the ability to achieve additional cost savings; the success of BankAtlantic's new 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.

 BankAtlantic Bancorp, Inc. and Subsidiaries
   Summary of Selected Financial Data (unaudited) For the Three Months Ended --------------------------------------------------
   6/30/2008 3/31/2008 12/31/2007 9/30/2007 6/30/2007 --------- --------- ---------- --------- --------- Earnings (in thousands):
   Net (loss) income from continuing operations $ (19,363) (24,564) (9,926) (29,610) 11,728 Net (loss) income $ (19,363) (23,443)
   (9,926) (29,610) 11,620 Average Common Shares Outstanding (in thousands): Basic 56,117 56,097 56,054 56,832 59,190 Diluted
   56,117 56,097 56,054 56,832 59,929 Key Performance Ratios Basic (loss) earnings per share from continuing operations $ (0.35)
   (0.44) (0.18) (0.52) 0.20 Diluted (loss) earnings per share from continuing operations $ (0.35) (0.44) (0.18) (0.52) 0.20
   Basic (loss) earnings per share $ (0.35) (0.42) (0.18) (0.52) 0.20 Diluted (loss) earnings per share $ (0.35) (0.42) (0.18)
   (0.52) 0.19 Return on average tangible assets from continuing operations (note 1) % (1.26) (1.57) (0.63) (1.85) 0.74 Return
   on average tangible equity from continuing operations (note 1) % (21.63) (25.73) (9.96) (27.45) 10.47 Average Balance Sheet
   Data (in millions): Assets $ 6,235 6,350 6,354 6,479 6,407 Tangible assets (note 1) $ 6,160 6,274 6,278 6,402 6,330 Loans
   $ 4,571 4,642 4,654 4,693 4,678 Investments $ 1,138 1,191 1,172 1,244 1,194 Deposits and escrows $ 3,907 3,949 3,960 3,984
   4,048 Stockholders' equity $ 435 459 471 506 525 Tangible stockholders' equity (note 1) $ 358 382 399 431 448 For the Six
   Months Ended -------------------- 6/30/2008 6/30/2007 --------- ---------- Earnings (in thousands): Net (loss) income from
   continuing operations (43,927) 9,524 Net (loss) income (42,806) 17,336 Average Common Shares Outstanding (in thousands): Basic
   56,107 59,908 Diluted 56,107 60,922 Key Performance Ratios Basic (loss) earnings per share from continuing operations (0.78)
   0.16 Diluted (loss) earnings per share from continuing operations (0.78) 0.16 Basic (loss) earnings per share (0.76) 0.29
   Diluted (loss) earnings per share (0.76) 0.28 Return on average tangible assets from continuing operations (note 1) (1.41)
   0.30 Return on average tangible equity from continuing operations (note 1) (23.75) 4.24 Average Balance Sheet Data (in millions):
   Assets 6,292 6,423 Tangible assets (note 1) 6,217 6,344 Loans 4,607 4,644 Investments 1,164 1,168 Deposits and escrows 3,928
   3,975 Stockholders' equity 447 527 Tangible stockholders' equity (note 1) 370 449 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) June 30, December 31, (in thousands,
   except share data) 2008 2007 ------------ ------------ ASSETS Cash and cash equivalents $ 308,554 124,574 Securities available
   for sale (at fair value) 759,023 925,363 Investment securities (approximate fair value: $2,036 and $44,688) 2,036 39,617 Financial
   instruments accounted for at fair value 13,257 10,661 Tax certificates net of allowance of $4,010 and $3,289 416,084 188,401
   Loans receivable, net of allowance for loan losses of $106,126 and $94,020 4,442,529 4,524,188 Federal Home Loan Bank stock,
   at cost which approximates fair value 85,657 74,003 Real estate held for development and sale 23,254 33,741 Real estate owned
   20,298 17,216 Office properties and equipment, net 222,484 243,863 Goodwill and other intangible assets 75,200 75,886 Other
   assets 146,599 121,304 ------------ ------------ Total assets $ 6,514,975 6,378,817 ============ ============ LIABILITIES
   AND STOCKHOLDERS' EQUITY Liabilities: Deposits Demand $ 891,142 824,211 NOW 939,714 900,233 Savings 526,303 580,497 Money
   market 621,899 624,390 Certificates of deposit 955,921 1,024,074 ------------ ------------ Total deposits 3,934,979 3,953,405
   Advances from FHLB 1,657,036 1,397,044 Securities sold under agreements to repurchase 53,209 58,265 Federal funds purchased
   and other short term borrowings 75,000 108,975 Subordinated debentures and bonds payable 26,287 26,654 Junior subordinated
   debentures 294,195 294,195 Other liabilities 66,063 80,958 ------------ ------------ Total liabilities 6,106,769 5,919,496
   ------------ ------------ Stockholders' equity: Common stock 562 561 Additional paid-in capital 218,922 216,692 Retained earnings
   192,780 236,150 ------------ ------------ Total stockholders' equity before accumulated other comprehensive (loss) income
   412,264 453,403 Accumulated other comprehensive (loss) income (4,058) 5,918 ------------ ------------ Total stockholders'
   equity 408,206 459,321 ------------ ------------ Total liabilities and stockholders' equity $ 6,514,975 6,378,817 ============
   ============ 

 BankAtlantic Bancorp, Inc. and Subsidiaries Consolidated Statements of Operations (unaudited) For
   the Three Months Ended -------------------------------------------------- (in thousands) 6/30/2008 3/31/2008 12/31/2007 9/30/2007
   6/30/2007 --------- --------- ---------- --------- --------- INTEREST INCOME: Interest and fees on loans $ 61,583 68,136 74,415
   80,082 79,914 Interest on securities available for sale 10,553 10,490 8,075 4,835 4,628 Interest on tax exempt securities
   - 14 1,266 3,838 3,800 Interest on tax certificates 4,926 3,565 3,939 4,589 3,768 Interest and dividends on taxable investments
   1,425 1,527 1,727 1,552 1,665 --------- --------- ---------- --------- --------- Total interest income 78,487 83,732 89,422
   94,896 93,775 --------- --------- ---------- --------- --------- INTEREST EXPENSE: Interest on deposits 14,508 18,593 21,443
   22,558 21,473 Interest on advances from FHLB 12,433 14,946 17,443 18,987 18,103 Interest on short- term borrowed funds 725
   1,279 2,068 2,940 2,010 Interest on long- term debt 5,220 6,283 6,650 6,652 6,136 --------- --------- ---------- ---------
   --------- Total interest expense 32,886 41,101 47,604 51,137 47,722 --------- --------- ---------- --------- --------- NET
   INTEREST INCOME 45,601 42,631 41,818 43,759 46,053 Provision for loan losses 47,247 42,888 9,515 48,949 4,917 --------- ---------
   ---------- --------- --------- NET INTEREST INCOME AFTER PROVISION (1,646) (257) 32,303 (5,190) 41,136 --------- ---------
   ---------- --------- --------- NON-INTEREST INCOME: Service charges on deposits 24,466 24,014 26,342 25,894 25,808 Other service
   charges and fees 7,121 7,433 7,171 7,222 7,524 Securities activities, net 8,965 (4,738) (3,163) 1,207 8,813 Gain on sales
   of loans 129 76 68 88 138 Income from unconsolidated subsidiaries 287 1,275 337 348 669 Other 2,908 2,579 1,690 1,863 2,532
   --------- --------- ---------- --------- --------- Total non- interest income 43,876 30,639 32,445 36,622 45,484 ---------
   --------- ---------- --------- --------- NON-INTEREST EXPENSE: Employee compensation and benefits 33,181 35,155 37,922 34,258
   37,908 Occupancy and equipment 16,172 16,386 17,026 16,954 15,927 Advertising and business promotion 3,662 4,895 5,659 4,276
   4,209 Professional fees 2,219 2,760 3,067 2,542 1,368 Check losses 2,101 2,718 3,547 3,341 2,731 Supplies and postage 1,282
   1,006 1,502 1,159 1,632 Telecommunication 1,331 1,502 1,348 1,286 1,556 Impairment, restructuring and exit activities 5,952
   (115) 5,681 11,005 1,122 Other 7,839 5,726 6,720 6,858 6,724 --------- --------- ---------- --------- --------- Total non-
   interest expense 73,739 70,033 82,472 81,679 73,177 --------- --------- ---------- --------- --------- (Loss) income from
   continuing operations before income taxes (31,509) (39,651) (17,724) (50,247) 13,443 (Benefit) provision for income taxes
   (12,146) (15,087) (7,798) (20,637) 1,715 --------- --------- ---------- --------- --------- (Loss) income from continuing
   operations (19,363) (24,564) (9,926) (29,610) 11,728 Discontinued operations - 1,121 - - (108) --------- --------- ----------
   --------- --------- Net (loss) income $ (19,363) (23,443) (9,926) (29,610) 11,620 ========= ========= ========== =========
   ========= For the Six Months Ended ------------------- (in thousands) 6/30/2008 6/30/2007 --------- --------- INTEREST INCOME:
   Interest and fees on loans 129,719 159,501 Interest on securities available for sale 21,043 9,189 Interest on tax exempt securities
   14 7,596 Interest on tax certificates 8,491 7,777 Interest and dividends on taxable investments 2,952 3,252 --------- ---------
   Total interest income 162,219 187,315 --------- --------- INTEREST EXPENSE: Interest on deposits 33,101 40,475 Interest on
   advances from FHLB 27,379 36,826 Interest on short- term borrowed funds 2,004 4,565 Interest on long- term debt 11,503 12,250
   --------- --------- Total interest expense 73,987 94,116 --------- --------- NET INTEREST INCOME 88,232 93,199 Provision for
   loan losses 90,135 12,378 --------- --------- NET INTEREST INCOME AFTER PROVISION (1,903) 80,821 --------- --------- NON-INTEREST
   INCOME: Service charges on deposits 48,480 50,403 Other service charges and fees 14,554 14,557 Securities activities, net
   4,227 10,368 Gain on sales of loans 205 338 Income from unconsolidated subsidiaries 1,562 1,815 Other 5,487 4,755 ---------
   --------- Total non- interest income 74,515 82,236 --------- --------- NON-INTEREST EXPENSE: Employee compensation and benefits
   68,336 78,998 Occupancy and equipment 32,558 31,871 Advertising and business promotion 8,557 10,067 Professional fees 4,979
   3,081 Check losses 4,819 4,588 Supplies and postage 2,288 3,485 Telecommunication 2,833 2,937 Impairment, restructuring and
   exit activities 5,837 3,675 Other 13,565 13,968 --------- --------- Total non- interest expense 143,772 152,670 ---------
   --------- (Loss) income from continuing operations before income taxes (71,160) 10,387 (Benefit) provision for income taxes
   (27,233) 863 --------- --------- (Loss) income from continuing operations (43,927) 9,524 Discontinued operations 1,121 7,812
   --------- --------- Net (loss) income (42,806) 17,336 ========= ========= 

 BankAtlantic Bancorp, Inc. and Subsidiaries
   Consolidated Average Balance Sheet (unaudited) For the Three Months Ended ----------------------------------- (in thousands
   except percentages and per share data) 6/30/2008 3/31/2008 12/31/2007 ----------- ----------- ----------- Loans: Residential
   real estate $ 2,086,519 2,162,421 2,196,552 Commercial real estate 1,292,627 1,307,236 1,317,578 Consumer 743,123 722,327
   697,764 Commercial business 129,332 131,770 132,677 Small business 319,096 318,588 309,322 ----------- ----------- -----------
   Total Loans 4,570,697 4,642,342 4,653,893 Investments - taxable 1,137,831 1,186,441 1,036,382 Investments - tax exempt - 4,314
   135,961 ----------- ----------- ----------- Total interest earning assets 5,708,528 5,833,097 5,826,236 Goodwill and core
   deposit intangibles 75,401 75,718 76,068 Other non-interest earning assets 450,999 440,961 451,397 ----------- -----------
   ----------- Total assets $ 6,234,928 6,349,776 6,353,701 =========== =========== =========== Tangible assets (note 1) $ 6,159,527
   6,274,058 6,277,633 =========== =========== =========== Deposits: Demand deposits $ 878,864 854,534 885,006 Savings 552,094
   566,448 589,966 NOW 941,964 926,381 830,898 Money market 617,013 609,062 638,041 Certificates of deposit 917,133 992,078 1,015,940
   ----------- ----------- ----------- Total deposits 3,907,068 3,948,503 3,959,851 Short-term borrowed funds 148,407 163,124
   182,134 FHLB advances 1,389,835 1,423,746 1,368,242 Long-term debt 320,469 320,650 321,885 ----------- ----------- -----------
   Total borrowings 1,858,711 1,907,520 1,872,261 Other liabilities 34,023 34,673 50,554 ----------- ----------- -----------
   Total liabilities 5,799,802 5,890,696 5,882,666 ----------- ----------- ----------- Stockholders' equity 435,126 459,080 471,035
   ----------- ----------- ----------- Total liabilities and stockholders' equity $ 6,234,928 6,349,776 6,353,701 ===========
   =========== =========== Other comprehensive income (loss) in stockholders' equity 1,679 1,496 (3,562) ----------- -----------
   ----------- Tangible stockholders' equity (note 1) $ 358,046 381,866 398,529 =========== =========== =========== Net Interest
   Margin 3.18% 2.91% 2.95% =========== =========== =========== Period End Total loans, net $ 4,442,529 4,483,305 4,524,188 Total
   assets 6,514,975 6,390,690 6,378,817 Total stockholders' equity 408,206 433,896 459,321 Class A common shares outstanding
   51,256,912 51,228,719 51,196,175 Class B common shares outstanding 4,876,124 4,876,124 4,876,124 Cash dividends 281,431 280,524
   281,130 Common stock cash dividends per share 0.005 0.005 0.005 Closing stock price 1.76 3.91 4.10 High stock price for the
   quarter 4.15 5.80 9.60 Low stock price for the quarter 1.56 3.32 2.89 Book value per share 7.27 7.73 8.19 (in thousands except
   percentages and per share data) 9/30/2007 6/30/2007 ----------- ------------ Loans: Residential real estate 2,245,138 2,215,606
   Commercial real estate 1,346,842 1,384,405 Consumer 662,320 635,370 Commercial business 134,390 147,026 Small business 304,388
   295,483 ----------- ------------ Total Loans 4,693,078 4,677,890 Investments - taxable 841,486 795,156 Investments - tax exempt
   402,482 399,160 ----------- ------------ Total interest earning assets 5,937,046 5,872,206 Goodwill and core deposit intangibles
   76,419 76,784 Other non-interest earning assets 465,427 457,817 ----------- ------------ Total assets 6,478,892 6,406,807
   =========== ============ Tangible assets (note 1) 6,402,473 6,330,023 =========== ============ Deposits: Demand deposits 922,293
   989,259 Savings 611,862 605,939 NOW 792,462 782,018 Money market 660,925 677,545 Certificates of deposit 996,415 993,458 -----------
   ------------ Total deposits 3,983,957 4,048,219 Short-term borrowed funds 225,034 151,656 FHLB advances 1,398,245 1,344,855
   Long-term debt 318,762 293,489 ----------- ------------ Total borrowings 1,942,041 1,790,000 Other liabilities 46,805 43,465
   ----------- ------------ Total liabilities 5,972,803 5,881,684 ----------- ------------ Stockholders' equity 506,089 525,123
   ----------- ------------ Total liabilities and stockholders' equity 6,478,892 6,406,807 =========== ============ Other comprehensive
   income (loss) in stockholders' equity (1,765) 377 ----------- ------------ Tangible stockholders' equity (note 1) 431,435
   447,962 =========== ============ Net Interest Margin 3.11% 3.27% =========== ============ Period End Total loans, net 4,586,625
   4,618,690 Total assets 6,485,593 6,495,047 Total stockholders' equity 471,889 512,724 Class A common shares outstanding 51,168,201
   53,212,871 Class B common shares outstanding 4,876,124 4,876,124 Cash dividends 2,315,458 2,386,145 Common stock cash dividends
   per share 0.0412 0.0410 Closing stock price 8.67 8.61 High stock price for the quarter 9.25 11.25 Low stock price for the
   quarter 7.50 8.38 Book value per share 8.42 8.83 

 Bank Operations Business Segment Condensed Statements of Operations
   (Unaudited) For the Three Months Ended -------------------------------------------------- (in thousands) 6/30/2008 3/31/2008
   12/31/2007 9/30/2007 6/30/2007 --------- --------- ---------- --------- --------- Net interest income$ 49,923 48,005 47,291
   49,235 50,914 Provision for loan losses 37,801 42,888 9,515 48,949 4,917 --------- --------- ---------- --------- ---------
   Net interest income after provision for loan losses 12,122 5,117 37,776 286 45,997 --------- --------- ---------- ---------
   --------- Non-interest income Service charges on deposits 24,466 24,014 26,342 25,894 25,808 Other service charges and fees
   7,121 7,433 7,171 7,222 7,524 Securities activities, net 1,960 341 861 613 212 Loss from real estate operations (281) - -
   - - Gain on sales of loans 129 76 68 88 138 Income from unconsolidated subsidiaries 147 1,113 163 182 509 Gain (loss) on the
   sale of office properties, net 40 (61) (564) (362) (42) Other non- interest income 3,146 2,637 2,249 2,224 2,535 ---------
   --------- ---------- --------- --------- Total non- interest income 36,728 35,553 36,290 35,861 36,684 --------- ---------
   ---------- --------- --------- Non-interest expense Employee compensation and benefits 32,118 34,243 37,221 34,244 36,628
   Occupancy and equipment 16,171 16,383 17,023 16,951 15,923 Advertising and business promotion 3,564 4,861 5,596 4,221 4,079
   Professional fees 2,004 2,260 2,969 2,444 1,233 Check losses 2,101 2,718 3,547 3,341 2,731 Supplies and postage 1,281 1,003
   1,441 1,158 1,629 Telecommunication 1,326 1,496 1,342 1,283 1,548 Impairment, restructuring and exit activities 5,952 (115)
   5,681 11,005 1,122 Other 7,820 5,777 6,761 6,848 6,629 --------- --------- ---------- --------- --------- Total non- interest
   expense 72,337 68,626 81,581 81,495 71,522 --------- --------- ---------- --------- --------- (Loss) income from bank operations
   business segment before income taxes (23,487) (27,956) (7,515) (45,348) 11,159 (Benefit) provision for income taxes (9,428)
   (10,975) (4,143) (18,236) 754 --------- --------- ---------- --------- --------- Net (loss) income from bank operations business
   segment $ (14,059) (16,981) (3,372) (27,112) 10,405 ========= ========= ========== ========= ========= For the Six Months
   Ended ------------------- (in thousands) 6/30/2008 6/30/2007 --------- --------- Net interest income 97,928 102,984 Provision
   for loan losses 80,689 12,378 --------- --------- Net interest income after provision for loan losses 17,239 90,606 ---------
   --------- Non-interest income Service charges on deposits 48,480 50,403 Other service charges and fees 14,554 14,557 Securities
   activities, net 2,301 833 Loss from real estate operations (281) (12) Gain on sales of loans 205 338 Income from unconsolidated
   subsidiaries 1,260 874 Gain (loss) on the sale of office properties, net (21) (195) Other non- interest income 5,783 4,933
   --------- --------- Total non- interest income 72,281 71,731 --------- --------- Non-interest expense Employee compensation
   and benefits 66,361 77,292 Occupancy and equipment 32,554 31,865 Advertising and business promotion 8,425 9,867 Professional
   fees 4,264 2,853 Check losses 4,819 4,588 Supplies and postage 2,284 3,479 Telecommunication 2,822 2,927 Impairment, restructuring
   and exit activities 5,837 3,675 Other 13,597 13,746 --------- --------- Total non- interest expense 140,963 150,292 ---------
   --------- (Loss) income from bank operations business segment before income taxes (51,443) 12,045 (Benefit) provision for
   income taxes (20,403) 1,001 --------- --------- Net (loss) income from bank operations business segment (31,040) 11,044 =========
   ========= 

 Bank Operations Business Segment Condensed Statements of Condition and Statistics (Unaudited) For the
   Three Months Ended ------------------------------------------------------ (in thousands except percentages and per share data)
   6/30/2008 3/31/2008 12/31/2007 9/30/2007 6/30/2007 ---------- ---------- ---------- ---------- ---------- Statistics: Tax
   equivalent: Average earning assets $5,569,690 5,669,461 5,653,913 5,750,192 5,690,488 Average interest bearing liabilities
   $4,610,344 4,712,913 4,656,897 4,718,381 4,590,419 Average tangible assets $6,002,728 6,085,957 6,080,693 6,194,549 6,127,470
   Average tangible equity $ 466,141 467,952 481,495 507,963 504,091 Borrowings to deposits and borrowings % 31.61 28.74 28.74
   29.89 28.74 Tax equivalent: Yield on earning assets % 5.61 5.88 6.33 6.71 6.70 Cost of interest- bearing liabilities % 2.46
   3.02 3.54 3.80 3.70 Interest spread % 3.15 2.86 2.79 2.91 3.00 Net interest margin % 3.58 3.37 3.41 3.59 3.72 Performance:
   Efficiency ratio % 83.48 82.13 97.61 95.77 81.65 Efficiency ratio before impairment, restructuring and exit activities % 76.61
   82.27 90.81 82.84 80.37 Return on average tangible assets % (0.94) (1.12) (0.22) (1.75) 0.68 Return on average tangible equity
   % (12.06) (14.52) (2.80) (21.35) 8.26 Earning assets repricing: Percent of earning assets that have fixed rates % 52 53 54
   54 54 Percent of earning assets that have variable rates % 48 47 46 46 46 One year Gap % 1 3 (3) (9) (7) Regulatory Capital
   Ratios Total risk- based capital% 11.77 11.83 11.63 11.93 12.34 Tier I risk- based capital% 9.99 10.04 9.85 10.17 10.62 Core
   capital % 6.82 6.87 6.94 7.20 7.48 For the Six Months Ended ---------------------- (in thousands except percentages and per
   share data) 6/30/2008 6/30/2007 ---------- ----------- Statistics: Tax equivalent: Average earning assets 5,619,575 5,678,563
   Average interest bearing liabilities 4,661,628 4,571,041 Average tangible assets 6,044,342 6,110,115 Average tangible equity
   467,044 503,672 Borrowings to deposits and borrowings 31.61 28.74 Tax equivalent: Yield on earning assets 5.75 6.70 Cost of
   interest- bearing liabilities 2.74 3.67 Interest spread 3.01 3.03 Net interest margin 3.48 3.74 Performance: Efficiency ratio
   82.82 86.02 Efficiency ratio before impairment, restructuring and exit activities 79.39 83.92 Return on average tangible assets
   (1.03) 0.36 Return on average tangible equity (13.29) 4.39 Earning assets repricing: Percent of earning assets that have fixed
   rates Percent of earning assets that have variable rates One year Gap Regulatory Capital Ratios Total risk- based capital
   Tier I risk- based capital Core capital 

 Bank Operations Business Segment Condensed Statements of Financial Condition
   (Unaudited) As of -------------------------------------------------- (in thousands) 6/30/2008 3/31/2008 12/31/2007 9/30/2007
   6/30/2007 --------- --------- ---------- --------- --------- ASSETS Loans receivable, net $4,357,541 4,388,334 4,524,188 4,586,625
   4,618,690 Investment securities 501,741 237,031 262,404 482,666 507,593 Available for sale securities 755,651 790,570 789,917
   570,624 563,318 Goodwill 70,489 70,489 70,489 70,489 70,489 Core deposit intangible asset 4,711 5,047 5,397 5,747 6,097 Other
   assets 679,015 720,485 509,567 557,951 505,874 --------- --------- ---------- --------- --------- Total assets $6,369,148
   6,211,956 6,161,962 6,274,102 6,272,061 ========= ========= ========== ========= ========= LIABILITIES AND STOCKHOLDER'S EQUITY
   Deposits Demand $ 891,142 912,862 824,211 896,094 971,260 NOW 939,714 928,275 900,233 801,289 769,994 Savings 526,303 571,456
   580,497 613,010 608,791 Money market 621,899 618,045 624,390 656,218 666,820 Certificates of deposit 955,921 964,976 1,024,074
   1,002,197 1,000,278 --------- --------- ---------- --------- --------- Total deposits 3,934,979 3,995,614 3,953,405 3,968,808
   4,017,143 Advances from Federal Home Loan Bank 1,657,036 1,477,040 1,397,044 1,417,047 1,397,051 Short term borrowings 135,200
   108,009 170,433 245,895 193,937 Long term debt 26,287 26,467 26,654 29,125 29,397 Other liabilities 65,655 65,351 79,147 74,539
   67,747 --------- --------- ---------- --------- --------- Total liabilities 5,819,157 5,672,481 5,626,683 5,735,414 5,705,275
   Stockholder's equity 549,991 539,475 535,279 538,688 566,786 --------- --------- ---------- --------- --------- Total liabilities
   and stockholder's equity $6,369,148 6,211,956 6,161,962 6,274,102 6,272,061 ========= ========= ========== ========= =========
   

 Bank Operations Business Segment Average Balance Sheet - Yield / Rate Analysis For the Three Months Ended ----------------------------
   June 30, 2008 --------------------------- Average Revenue/ Yield/ (in thousands) Balance Expense Rate --------- ----------
   ------ Loans: Residential real estate $2,086,519 28,469 5.46% Commercial real estate 1,194,902 16,979 5.68 Consumer 743,123
   8,273 4.45 Commercial business 127,229 2,224 6.99 Small business 319,095 5,521 6.92 --------- ---------- ------ Total loans
   4,470,868 61,466 5.50 Investments - tax exempt - - - Investments - taxable 1,098,822 16,615 6.05 --------- ---------- ------
   Total interest earning assets 5,569,690 78,081 5.61% ---------- ------ Goodwill and core deposit intangibles 75,401 Other
   non-interest earning assets 433,038 --------- Total Assets $6,078,129 ========= Deposits: Savings $ 552,094 1,284 0.94% NOW
   941,964 1,898 0.81 Money market 617,013 2,427 1.58 Certificates of deposit 917,133 8,899 3.90 --------- ---------- ------
   Total interest bearing deposits 3,028,204 14,508 1.93 --------- ---------- ------ Short-term borrowed funds 166,031 788 1.91
   Advances from FHLB 1,389,835 12,433 3.60 Long-term debt 26,274 429 6.57 --------- ---------- ------ Total interest bearing
   liabilities 4,610,344 28,158 2.46 Demand deposits 878,906 Non-interest bearing other liabilities 45,770 --------- Total Liabilities
   5,535,020 Stockholder's equity 543,109 --------- Total liabilities and stockholder's equity $6,078,129 ========= Net tax equivalent
   interest income/net interest spread $ 49,923 3.15% ====== Tax equivalent adjustment - ---------- Net interest income 49,923
   ========== Margin Interest income/interest earning assets 5.61% Interest expense/interest earning assets 2.03 ------ Net interest
   margin (tax equivalent) 3.58% ====== June 30, 2007 --------------------------- Average Revenue/ Yield/ (in thousands) Balance
   Expense Rate --------- -------- ------ Loans: Residential real estate $2,215,606 30,181 5.45% Commercial real estate 1,384,405
   28,646 8.28 Consumer 635,370 11,836 7.45 Commercial business 147,026 3,306 8.99 Small business 295,483 5,944 8.05 ---------
   -------- ------ Total loans 4,677,890 79,913 6.83 Investments - tax exempt 398,435 5,846 (1) 5.87 Investments - taxable 614,163
   9,506 6.19 --------- -------- ------ Total interest earning assets 5,690,488 95,265 6.70% -------- ------ Goodwill and core
   deposit intangibles 76,784 Other non-interest earning assets 436,982 --------- Total Assets $6,204,254 ========= Deposits:
   Savings $ 605,940 3,401 2.25% NOW 782,018 1,749 0.90 Money market 677,545 4,789 2.84 Certificates of deposit 993,458 11,535
   4.66 --------- -------- ------ Total interest bearing deposits 3,058,961 21,474 2.82 --------- -------- ------ Short-term
   borrowed funds 157,230 2,091 5.33 Advances from FHLB 1,344,855 18,102 5.40 Long-term debt 29,373 638 8.71 --------- --------
   ------ Total interest bearing liabilities 4,590,419 42,305 3.70 Demand deposits 989,434 Non-interest bearing other liabilities
   50,800 --------- Total Liabilities 5,630,653 Stockholder's equity 573,601 --------- Total liabilities and stockholder's equity
   $6,204,254 ========= Net tax equivalent interest income/net interest spread $ 52,960 3.00% ====== Tax equivalent adjustment
   (2,046) -------- Net interest income 50,914 ======== Margin Interest income/interest earning assets 6.70% Interest expense/interest
   earning assets 2.98 ------ Net interest margin (tax equivalent) 3.72% ====== (1) The tax equivalent basis is computed using
   a 35% tax rate. 

 Bank Operations Average Balance Sheet - Yield / Rate Analysis For the Six Months Ended ----------------------------
   June 30, 2008 --------------------------- ( in thousands) Average Revenue/ Yield/ Balance Expense Rate --------- ----------
   ------ Loans: Residential real estate $2,124,470 58,121 5.47% Commercial real estate 1,249,615 36,522 5.85 Consumer 732,725
   18,825 5.14 Commercial business 129,659 4,772 7.36 Small business 317,838 11,362 7.15 --------- ---------- ------ Total loans
   4,554,307 129,602 5.69 Investments - tax exempt - - - Investments - taxable 1,065,268 31,837 5.98 --------- ---------- ------
   Total interest earning assets 5,619,575 161,439 5.75% ---------- ------ Goodwill and core deposit intangibles 75,560 Other
   non-interest earning assets 424,767 --------- Total Assets $6,119,902 ========= Deposits: Savings $ 559,271 3,302 1.19% NOW
   934,173 4,581 0.99 Money market 613,038 5,585 1.83 Certificates of deposit 954,605 19,633 4.14 --------- ---------- ------
   Total deposits 3,061,087 33,101 2.17 --------- ---------- ------ Short-term borrowed funds 167,386 2,113 2.54 Advances from
   FHLB 1,406,790 27,379 3.91 Long-term debt 26,365 918 7.00 --------- ---------- ------ Total interest bearing liabilities 4,661,628
   63,511 2.74 Demand deposits 866,834 Non-interest bearing other liabilities 47,298 --------- Total Liabilities 5,575,760 Stockholder's
   equity 544,142 --------- Total liabilities and stockholder's equity $6,119,902 ========= Net interest income/net interest
   spread $ 97,928 3.01% ====== Tax equivalent adjustment - ---------- Net interest income 97,928 ========== Margin Interest
   income/interest earning assets 5.75% Interest expense/interest earning assets 2.27 ------ Net interest margin 3.48% ======
   June 30, 2007 --------------------------- ( in thousands) Average Revenue/ Yield/ Balance Expense Rate --------- --------
   ------ Loans: Residential real estate $2,198,636 59,692 5.43% Commercial real estate 1,402,559 58,139 8.29 Consumer 621,001
   23,201 7.47 Commercial business 151,562 6,793 8.96 Small business 290,522 11,676 8.04 --------- -------- ------ Total loans
   4,664,280 159,501 6.84 Investments - tax exempt 397,410 11,648 (1) 5.86 Investments - taxable 616,873 19,202 6.23 ---------
   -------- ------ Total interest earning assets 5,678,563 190,351 6.70% -------- ------ Goodwill and core deposit intangibles
   76,960 Other non-interest earning assets 431,552 --------- Total Assets $6,187,075 ========= Deposits: Savings $ 567,899 5,971
   2.12% NOW 776,548 3,261 0.85 Money market 664,039 8,727 2.65 Certificates of deposit 977,674 22,517 4.64 --------- --------
   ------ Total deposits 2,986,160 40,476 2.73 --------- -------- ------ Short-term borrowed funds 180,478 4,723 5.28 Advances
   from FHLB 1,374,900 36,826 5.40 Long-term debt 29,503 1,265 8.65 --------- -------- ------ Total interest bearing liabilities
   4,571,041 83,290 3.67 Demand deposits 989,490 Non-interest bearing other liabilities 53,495 --------- Total Liabilities 5,614,026
   Stockholder's equity 573,049 --------- Total liabilities and stockholder's equity $6,187,075 ========= Net interest income/net
   interest spread $107,061 3.03% ====== Tax equivalent adjustment (4,077) -------- Net interest income 102,984 ======== Margin
   Interest income/interest earning assets 6.70% Interest expense/interest earning assets 2.96 ------ Net interest margin 3.74%
   ====== (1) The tax equivalent basis is computed using a 35% tax rate. 

 Bank Operations Business Segment Allowance
   for Loan Loss and Credit Quality (in thousands) For the Three Months Ended --------------------------------------------------
   6/30/2008 3/31/2008 12/31/2007 9/30/2007 6/30/2007 --------- --------- ---------- --------- --------- Allowance for Loan Losses
   ------------------ Beginning balance $ 83,396 94,020 92,358 54,754 50,373 Charge-offs: Residential real estate (1,027) (624)
   (255) (3) (52) Commercial real estate (14,501) (40,591) (3,118) (9,444) - Commercial business - - - - - Consumer (7,225) (4,836)
   (4,094) (1,689) (744) Small business (464) (1,196) (534) (581) (1,001) --------- --------- ---------- --------- ---------
   Total charge-offs (23,217) (47,247) (8,001) (11,717) (1,797) --------- --------- ---------- --------- --------- Recoveries:
   Residential real estate 192 - - - 15 Commercial real estate - - - - 304 Commercial business 3 26 14 29 777 Consumer 130 88
   49 120 81 Small business 119 61 85 223 84 --------- --------- ---------- --------- --------- Total recoveries 444 175 148
   372 1,261 --------- --------- ---------- --------- --------- Net charge-offs (22,773) (47,072) (7,853) (11,345) (536) Transfer
   specific reserves to Parent - (6,440) - - - Provision for loan losses 37,801 42,888 9,515 48,949 4,917 --------- ---------
   ---------- --------- --------- Ending balance $ 98,424 83,396 94,020 92,358 54,754 ========= ========= ========== =========
   ========= Annualized net charge-offs to average loans % 2.04 4.06 0.67 0.97 0.05 ========= ========= ========== =========
   ========= For the Six (in thousands) Months Ended -------------------- 6/30/2008 6/30/2007 --------- ---------- Allowance
   for Loan Losses ------------------- Beginning balance 94,020 43,602 Charge-offs: Residential real estate (1,651) (203) Commercial
   real estate (55,092) - Commercial business - - Consumer (12,061) (1,282) Small business (1,660) (1,439) --------- ----------
   Total charge-offs (70,464) (2,924) --------- ---------- Recoveries: Residential real estate 192 15 Commercial real estate
   - 304 Commercial business 29 819 Consumer 218 248 Small business 180 312 --------- ---------- Total recoveries 619 1,698 ---------
   ---------- Net charge-offs (69,845) (1,226) Transfer specific reserves to Parent (6,440) - Provision for loan losses 80,689
   12,378 --------- ---------- Ending balance 98,424 54,754 ========= ========== Annualized net charge-offs to average loans
   3.07 0.05 ========= ========== As of -------------------------------------------------- 6/30/2008 3/31/2008 12/31/2007 9/30/2007
   6/30/2007 --------- --------- ---------- --------- --------- Credit Quality -------------- Nonaccrual loans $ 77,901 55,790
   178,591 165,369 21,806 Nonaccrual tax certificates 2,309 2,013 2,094 1,140 711 Real estate owned 20,298 19,784 17,216 17,159
   23,886 Other repossessed assets - - - - - --------- --------- ---------- --------- --------- Total nonperforming assets 100,508
   77,587 197,901 183,668 46,403 ========= ========= ========== ========= ========= Nonperforming assets to total loans and other
   assets % 2.05 1.67 4.10 3.74 0.94 Allowance for loan losses to total loans % 2.21 1.86 2.04 1.97 1.17 Provision to average
   loans % 3.38 3.70 0.82 4.17 0.42 Allowance to nonaccrual loans % 126.34 149.48 52.65 55.85 251.10 Nonperforming loans to total
   loans % 1.75 1.25 3.87 3.53 0.47 Nonperforming assets to reserves and stockholder equity % 15.50 12.46 31.45 29.11 7.47 

   Parent Company Business Segment Activities Condensed Statements of Operations - Unaudited For the Three Months Ended --------------------------------------------------
   (in thousands) 6/30/2008 3/31/2008 12/31/2007 9/30/2007 6/30/2007 --------- --------- ---------- --------- --------- Net interest
   expense $ (4,324) (5,374) (5,473) (5,476) (4,861) Provision for loan losses 9,446 - - - - --------- --------- ---------- ---------
   --------- Net interest income after provision for loan losses (13,770) (5,374) (5,473) (5,476) (4,861) --------- ---------
   ---------- --------- --------- Non-interest income Income from unconsolidated subsidiaries 140 162 174 167 159 Securities
   activities, net 7,005 (5,079) (4,024) 594 8,601 Other 269 271 275 156 254 --------- --------- ---------- --------- ---------
   Non-interest income 7,414 (4,646) (3,575) 917 9,014 --------- --------- ---------- --------- --------- Non-interest expense
   Employee compensation and benefits 1,063 912 701 14 1,280 Advertising and business promotion 98 34 62 55 130 Professional
   fees 215 500 98 98 135 Other 290 229 300 173 324 --------- --------- ---------- --------- --------- Non-interest expense 1,666
   1,675 1,161 340 1,869 --------- --------- ---------- --------- --------- (Loss) income from parent company activities before
   income taxes (8,022) (11,695) (10,209) (4,899) 2,284 (Benefit) provision for income taxes (2,718) (4,112) (3,655) (2,401)
   961 --------- --------- ---------- --------- --------- Net (loss) income from parent company business segment $ (5,304) (7,583)
   (6,554) (2,498) 1,323 ========= ========= ========== ========= ========= For the Six Months Ended -------------------- (in
   thousands) 6/30/2008 6/30/2007 --------- ---------- Net interest expense (9,698) (9,785) Provision for loan losses 9,446 -
   --------- ---------- Net interest income after provision for loan losses (19,144) (9,785) --------- ---------- Non-interest
   income Income from unconsolidated subsidiaries 302 940 Securities activities, net 1,926 9,535 Other 540 433 --------- ----------
   Non-interest income 2,768 10,908 --------- ---------- Non-interest expense Employee compensation and benefits 1,975 1,706
   Advertising and business promotion 132 200 Professional fees 715 228 Other 519 647 --------- ---------- Non-interest expense
   3,341 2,781 --------- ---------- (Loss) income from parent company activities before income taxes (19,717) (1,658) (Benefit)
   provision for income taxes (6,830) (138) --------- ---------- Net (loss) income from parent company business segment (12,887)
   (1,520) ========= ========== Condensed Statements of Financial Condition - Unaudited As of --------------------------------------------------
   (in thousands) 6/30/2008 3/31/2008 12/31/2007 9/30/2007 6/30/2007 --------- --------- ---------- --------- --------- ASSETS
   Cash $ 17,261 27,624 9,163 12,540 28,332 Securities 18,664 28,864 185,724 201,155 193,979 Investment in subsidiaries 638,679
   634,447 535,281 538,691 566,787 Investment in unconsolidated subsidiaries 8,820 8,820 8,820 8,839 8,685 Other assets 21,006
   30,672 16,339 8,466 8,370 --------- --------- ---------- --------- --------- Total assets $ 704,430 730,427 755,327 769,691
   806,153 ========= ========= ========== ========= ========= LIABILITIES AND STOCKHOLDERS' EQUITY Subordinated debentures and
   notes payable $ 294,195 294,195 294,195 294,195 289,040 Other liabilities 2,029 2,336 1,811 3,607 4,389 --------- ---------
   ---------- --------- --------- Total liabilities 296,224 296,531 296,006 297,802 293,429 --------- --------- ---------- ---------
   --------- Stockholders' equity 408,206 433,896 459,321 471,889 512,724 --------- --------- ---------- --------- ---------
   Total liabilities and stockholders' equity $ 704,430 730,427 755,327 769,691 806,153 ========= ========= ========== =========
   ========= 

 Parent Company Business Segment Allowance for Loan Loss and Credit Quality Parent Company and Work-out
   Subsidiary For the Three For the Six (in thousands) Months Ended Months Ended --------------------- ------------ 6/30/2008
   3/31/2008 6/30/2008 ---------- ---------- ------------ Allowance for Loan Losses ---------------------------------- Beginning
   balance $ 6,440 - - Charge-offs (8,184) - (8,184) Specific reserves transfer from BankAtlantic - 6,440 6,440 Provision for
   loan losses 9,446 - 9,446 ---------- ---------- ------------ Ending balance $ 7,702 6,440 7,702 ========== ========== ============
   As of --------------------- 6/30/2008 3/31/2008 ---------- ---------- Credit Quality ---------------------------------- Nonaccrual
   loans $ 90,412 101,493 Specific reserves (7,702) (6,440) ---------- ---------- Nonaccrual loans, net $ 82,710 95,053 ==========
   ========== Consolidated BankAtlantic Bancorp and Subsidiaries Nonperforming Assets and Credit Quality Statistics (in thousands)
   As of --------------------- 6/30/2008 3/31/2008 ---------- ---------- Nonperforming Assets ----------------------------------
   Commercial real estate $ 138,808 130,645 Residential 18,208 15,141 Consumer 4,495 4,374 Commercial business 5,638 6,231 Small
   business 1,165 893 ---------- ---------- Total nonaccrual loans 168,314 157,284 Nonaccrual tax certificates 2,309 2,013 Real
   estate owned 20,298 19,784 Other repossessed assets - - ---------- ---------- Total nonperforming assets, gross $ 190,921
   179,081 ========== ========== Credit Quality Statistics ---------------------------------- Nonperforming assets, gross to
   total loans and other assets % 3.83 3.77 Allowance for loan losses to total loans % 2.33 1.96 Provision to average loans %
   4.13 3.70 Allowance to nonaccrual loans % 63.05 57.12 

SOURCE: BankAtlantic Bancorp, Inc.

BankAtlantic Bancorp,
   Inc., Fort Lauderdale Donna Rouzeau or Leo Hinkley, 954-940-5300 or Public Relations: Hattie Hess, 954-940-6383 or Public
   Relations for BankAtlantic: Boardroom Communications Caren Berg, 954-370-8999 

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