BankAtlantic Bancorp Reports Financial Results For the Second Quarter, 2008

21% Improvement Compared to First Quarter, 2008
FORT LAUDERDALE, Fla.--(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.

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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
*T

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.

-0-
*T

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.
*T

-0-
*T

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
============ ============
*T

-0-
*T

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
========= =========
*T

-0-
*T

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
*T

-0-
*T

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
========= =========
*T

-0-
*T

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
*T

-0-
*T

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
========= ========= ========== ========= =========
*T

-0-
*T

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.
*T

-0-
*T

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.
*T

-0-
*T

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
*T

-0-
*T

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
========= ========= ========== ========= =========
*T

-0-
*T

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
*T

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

Copyright Business Wire 2008