EXHIBIT 99


<PAGE>



                              FloridaFirst Bancorp

                                  BALANCE SHEET
                                   (Unaudited)
<TABLE>
<CAPTION>

                                                                           At December 31, 1998
<S>                                                                            <C>         
ASSETS:

         Total Assets                                                           $         --
                                                                                 ===========


LIABILITIES AND STOCKHOLDERS' EQUITY

         Liabilities                                                            $         --
                                                                                 -----------

         Stockholders' Equity:

                  Preferred Stock, no par value per share,
                  Authorized - 2,000,000 shares;
                  Issued and Outstanding - None                                           --

                  Common Stock, $.10 par value per share,
                  Authorized - 18,000,000 shares;
                  Issued and Outstanding - None                                           --

                  Additional Paid-in Capital                                    $         --
                                                                                 -----------

                  Total Stockholders' Equity                                    $         --
                                                                                 -----------

                  Total Liabilities and Stockholders' Equity                    $         --
                                                                                 ===========
</TABLE>


                                       F-1

<PAGE>



                              FloridaFirst Bancorp

                               STATEMENT OF INCOME



                    For the period beginning October 1, 1998
                              to December 31, 1998
                                   (Unaudited)



Net Income                                    $    --    
                                               ==========



                                       F-2

<PAGE>



                              FloridaFirst Bancorp

                             STATEMENT OF CASH FLOWS



                    For the period beginning October 1, 1998
                              to December 31, 1998
                                   (Unaudited)



Cash flows from operating, financing and investing activities  $         --
                                                                ===========

                  Net cash provided by operation,
                    financing and investing activities         $         --
                                                                ===========

Cash and cash equivalents at beginning of period               $         --
                                                                -----------

Cash and cash equivalents at end of period                     $         --
                                                                ===========

                                       F-3

<PAGE>


                              FloridaFirst Bancorp

                          NOTES TO FINANCIAL STATEMENTS

Note 1.   Incorporation and Organization
          ------------------------------

         FloridaFirst  Bancorp  ("Registrant")  is  currently  in formation as a
federally-chartered middle tier stock holding company, solely for the purpose of
becoming a savings  and loan  holding  company  of First  Federal  Florida  (the
"Bank"). As of this date, the Registrant had not conducted any business.

Note 2.   Plan of Reorganization
          ----------------------

         On December 18, 1998, the Registrant filed a Registration  Statement on
Form S-1 ("Registration  Statement") with the Securities and Exchange Commission
("SEC").  The  Registration  Statement  was  filed  as part of a Plan of  Mutual
Holding Company  Reorganization and Stock Issuance (the "Plan") and transactions
incident to the Plan,  pursuant to which (i) First Federal Florida will organize
FloridaFirst  Bancorp  MHC  ("MHC")  initially  as  a  temporary  federal  stock
institution;  (ii) MHC will then organize a stock  corporation under federal law
(i.e.,  FloridaFirst)  as its 100%  owned  subsidiary;  and  (iii) MHC will also
organize a temporary federal stock institution as its 100% owned subsidiary.

         The following  transactions will then occur  simultaneously:  (i) First
Federal  Florida will  exchange its mutual  charter for a federal  stock savings
institution charter; (ii) MHC will cancel its outstanding stock and exchange its
charter for a federal mutual  savings and loan holding  company  charter;  (iii)
MHC's 100% owned temporary  federal stock  institution  will merge with and into
First Federal Florida, with First Federal Florida surviving;  (iv) the initially
issued stock of First Federal Florida, which will be constructively  received by
former  members of First Federal  Florida when First Federal  Florida  becomes a
stock  institution,  will initially be issued to MHC in exchange for liquidation
interests in MHC which will be held by First Federal Florida's members;  (v) MHC
will then  contribute 100% of the stock of First Federal Florida to FloridaFirst
Bancorp;  and (vi) FloridaFirst Bancorp will sell 47% of its common stock to the
public.

Note 3.   Subsequent Events
          -----------------

         The  Registrant's   Registration  Statement  was  deemed  effective  on
February 12, 1999. The subscription offering ended March 18, 1999.



                                       F-4