BankAtlantic Bancorp Reports Earnings For The Third Quarter 2004.

FORT LAUDERDALE, Fla. -- BankAtlantic Bancorp, Inc. (NYSE:BBX):

--Income From Continuing Operations Increased 46%

--Earnings Per Share Increased 44%

--YTD Income From Continuing Operations Increased 74%

--YTD Earnings Per Share Increased 68%

BankAtlantic Bancorp, Inc. (NYSE:BBX) today announced financial results for the third quarter ended September 30, 2004. Income from continuing operations increased 46% to $14.7 million for the third quarter of 2004, up from $10.1 million earned in the corresponding period in 2003. Diluted earnings per share from continuing operations increased 44% to $0.23, up from $0.16 in the corresponding period in 2003. Year-to-date income from continuing operations increased 74% to $53.5 million for the period ending September 30, 2004, up from $30.8 million in the corresponding period in 2003. Year-to-date diluted earnings per share from continuing operations increased 68% to $0.84, up from $0.50 earned in the corresponding period in 2003.

Chairman of the Board and Chief Executive Officer Alan B. Levan commented, "The last six weeks of the third quarter brought Floridians unprecedented disruptions from hurricanes including evacuations, curfews, loss of electric service, and other related damages. The rapid succession of the four Florida hurricanes created unparalleled challenges to our communities. We are very proud of our extraordinarily dedicated staff for keeping the 'Florida's Most Convenient Bank' promise during this trying period. We offered customers and non-customers alike unparalleled service and care before and after each storm, including weekends and the Labor Day holiday.

"In spite of weather-related conditions during the quarter, BankAtlantic's growth initiatives continued to show solid progress. BankAtlantic maintained a net interest margin for the quarter of 3.78%, up from 3.10% in the comparable 2003 period, and credit quality remained strong. Low cost deposits continued to grow, as outlined later in this release. Ryan Beck & Co. experienced good results, reporting a 42% increase in business segment income from continuing operations over the equivalent quarter of 2003, although its quarter was down from its all-time high in...

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