Tony Segreto

FORT LAUDERDALE, FL – October 20, 2009 — BankAtlantic, Florida’s Most Convenient Bank and its parent company BankAtlantic Bancorp (NYSE: BBX), announced today that Tony Segreto has been invited by its Board of Directors to become a BankAtlantic Advisory Board Member. In this capacity, Mr. Segreto will attend all Board Meetings and will join with the Board of Directors in governing and promoting BankAtlantic. Tony Segreto, one of the most experienced and trusted former anchors on South Florida television, was an integral part of the NBC 6 news team for 40 years.

“We are very pleased that Tony has agreed to become a BankAtlantic Advisory Board member and participate with our Board of Directors. His extensive knowledge of the South Florida community and his reputation and involvement in many state and national organizations will be an asset to the BankAtlantic Board and BankAtlantic’s management team,” commented BankAtlantic’s Chief Executive Officer, Jarett S. Levan. “Tony’s dedication to the people of South Florida greatly transcends his career in television and television news. Anyone who knows Tony knows his is a lifetime of commitment.”

Mr. Segreto joined WTVJ in 1968 as an intern. During his tenure he worked as a photographer, producer, reporter, and anchor for both sports and news. In 1995, he was honored by the South Florida chapter of the National Academy of Television Arts and Sciences (NATAS) with the prestigious Silver Circle Award, recognizing over 25 years of excellence in broadcast journalism.

A native of South Florida, Mr. Segreto’s track record speaks volumes of his enthusiasm and commitment to charitable the causes of the South Florida community. He serves on the boards of the Dan Marino Foundation, the Boys and Girls Club of Broward and is the spokesperson for the Make-A-Wish Foundation and St. Jude’s Children Hospital. In addition, he serves on the Advisory Board of the Nova Southeastern University Huizenga School of Business. He is also a member of the Orange Bowl Committee, and the Board of Directors of the Miami Sports Commission among many other civic services. His Hall of Fame inductions includes the Greater Miami Chamber of Commerce’s sports hall of champions for a lifetime contribution to sports, Broward Sports Hall of Fame, and the Miami Dade College Hall of Fame among others.

“I am very proud to become a part of the BankAtlantic family. BankAtlantic’s passion, integrity, and ideals for customer care and community support are exactly in line with my own personal beliefs,” commented Tony Segreto. “BankAtlantic is a trusted name in South Florida and I hope my 40 year career in television and commitment to community will further support its efforts to give back to the community,” Segreto concluded.

“In his new position, Tony will greatly enhance BankAtlantic’s efforts to support the local community and help BankAtlantic make Florida an even better place to live and work,” concluded Jarett Levan.

About BankAtlantic:

BankAtlantic, “Florida’s Most Convenient Bank”, is one of the largest financial institutions headquartered in Florida. Via its broad network of community branches, online banking division – BankAtlantic.com, and conveniently located ATMs, BankAtlantic provides a full line of personal, small business and commercial banking products and services. BankAtlantic is open 7 days a week with extended weekday hours, Free Online Banking & Bill Pay, a 7-Day Customer Service Center and Change Exchange coin counters.

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

For further information, please visit our websites:

www.BankAtlantic.com

www.BankAtlanticBancorp.com

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. 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., BankAtlantic, and Mr. Segreto, 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. 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, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2008. The Company cautions that the foregoing factors are not exclusive.