Exhibit 99.1

FOR IMMEDIATE RELEASE

For:                 
      MAF Bancorp, Inc.                
                        Contacts:     Jerry A. Weberling, Chief 
               
               55th Street & Holmes Avenue         
                           
         Financial Officer 
                               Clarendon Hills, IL 60514                 
                  
                   (630) 887-5999                  
            www.mafbancorp.com             
                        
                  Michael J. Janssen, SVP              
                            
                           
                             
                            
 (630) 986-7544

MAF BANCORP REPORTS
FIRST QUARTER EARNINGS OF $.74 PER DILUTED SHARE

Clarendon Hills, Illinois, April 20,
2006  MAF Bancorp, Inc. (MAFB) reported net income for the first quarter ended March
31, 2006 of $25.1 million, or $.74 per diluted share compared to net income of $24.2
million, or $.72 per diluted share in last years first quarter.

On February 1, 2006, the Company
completed its acquisition of EFC Bancorp, Inc. (EFC) in a cash and stock transaction
valued at $176.6 million. The Company paid $71.6 million in cash, issued 2.34 million
shares and assumed EFC stock options. The Company funded the cash portion of the merger
consideration primarily through a $52 million increase in its unsecured term bank loan.
 At the time of acquisition, EFC had assets of approximately $1.1
billion, loans receivable of $865.2 million, deposits of $703.4 million and
borrowings of $258.9 million. The closing of the EFC merger resulted in an overall
increase in goodwill and core deposit intangibles of $97.2 million. As a result of the merger,
the Company has expanded its Chicago area footprint with the addition of seven banking offices
 in northwest suburban Kane and Cook counties which operate under the Mid America Bank name.

Net Interest Income and
Net Interest Margin

|                                             | QE 3/31/06 | QE 12/31/05 | QE 3/31/05
|-------------------------------------------- | ---------- | ----------- | ----------
|Net interest margin                          |            |             |           
|Interest rate spread                         |            |             |           
|Net interest income (000's)                  |            |             | $         
|Average assets:                              |            |            
|Yield on interest-earning assets             |            |             |           
|Yield on loans receivable                    |            |             |           
|Yield on mortgage-backed securities          |            |             |           
|Average interest-earning assets (000's)      |            |             | $         
|Average liabilities:                         |            |            
|Cost of interest-bearing liabilities         |            |             |           
|Cost of deposits                             |            |             |           
|Cost of borrowed funds                       |            |             |           
|Cost of junior subordinated debt             |            |             |           
|Average interest-bearing liabilities (000's) |            |             | $         

Net Interest Margin: 1st Quarter 2006
v. 4th Quarter 2005.The net interest income and average interest-earning assets have increased since
the prior quarter as a result of the EFC acquisition. The net interest margin declined during the quarter as the cost
of interest-bearing liabilities increased faster than the yield on interest-earning assets in the rising interest rate
environment. The higher cost of interest-bearing liablilities reflects higher short-tern rates, as well as a change in
the mix of deposit as consumer preference has shifted toward higher-yielding certificates of deposit
and out of passbook and money

---

market accounts. Due to the pressure on net interest margin from the flat
yield curve environment, the Company is limiting growth in its
 lowest yielding asset categories, one- to four-family
loans and securities, and implemented a new stock repurchase program during the quarter to enhance shareholder return.

Net Interest Margin: 1st Quarter 2006
v. 1st Quarter 2005.On a year-over-year basis, the net interest margin declined by 40
basis points due to a combination of rising short-term interest rates, a flattening yield
curve environment over the past 12 months, additional bank-owned life insurance
investments, lower yield on the Companys investment in Federal Home Loan Bank of Chicago stock, and
higher deposit pricing driven by increased pricing competition and a continued shift of funds out of lower costs core deposits into
certificates of deposit.

Loan Portfolio Composition

|                                      | 3/31/06 | 12/31/05 | 3/31/05
|------------------------------------- | ------- | -------- | -------
|
|One- to four-family                   |         |          |        
|Home equity loans and lines of credit |         |          |        
|Multi-family                          |         |          |        
|Commercial real estate                |         |          |        
|Commercial business                   |         |          |        
|Construction                          |         |          |        
|Land                                  |         |          |        
|Consumer                              |         |          |        
|                                      |         |          |        
|Total loans receivable, net           |         |          |        
|                                      |         |          |        

The growth in the Companys loan portfolio since December 31, 2005,
is primarily due to the $865 million of loans added in the EFC acquisition, although organic growth was strong in loan
categories other than one- to four-family loans and equity lines of credit.
Without the effect of the EFC acquisition, non one- to four-family and home equity loans grew at annualized rate
of 24%. The Company limited growth in its one- to four-family portfolio, other than through the EFC acquisition, electing
to sell adjustable-rate as well as fixed-rate production. The home equity loans and lines of
credit porfolio grew 1.6%, exclusive of EFC, as consumer demand for equity lines has lessened in the rising rate environment.

Non-Interest Income

|                                       | QE 3/31/06 | QE 12/31/05 | QE 3/31/05
|-------------------------------------- | ---------- | ----------- | ----------
|Total non-interest income (000's)      |            |             | $         
|Non-interest income / total revenue(1) |            |             |           

|(1) | Total
revenue equals net interest income plus non-interest income.
|--- | ------------------------------------------------------------------

Non-interest income decreased 14.2%
compared to the fourth quarter of 2005 and increased 13.3% compared to the first quarter
of 2005. The decrease from the fourth quarter of 2005 is due in part to a decline of $1.9 million
in income from real estate operations. In addition, the prior quarter included a gain of $2.4 million on
the sale of mortgage servicing rights. The majority of the increase in non-interest income compared to the
prior year quarter is due to organic growth in almost all income categories except gain on
sale of loans receivable and investments.

2

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One- to Four-Family
Mortgage Originations, Sales and Servicing

|                                                               | QE 3/31/06 | QE 12/31/05 | QE 3/31/05
|-------------------------------------------------------------- | ---------- | ----------- | ----------
|
|One- to Four-Family Originations and Purchases                 |            |             |           
|Fixed-rate                                                     |            |             | $         
|Adjustable rate                                                |            |             |           
|                                                               |            |             |           
|Total                                                          |            |             | $         
|                                                               |            |             |           
|Fixed-rate %                                                   |            |             |           
|Adjustable rate %                                              |            |             |           
|Refinance %                                                    |            |             |           
|Loan Sales                                                     |            |            
|One- to four-family fixed-rate                                 |            |             | $         
|One- to four-family adjustable rate                            |            |             |           
|                                                               |            |             |           
|Total one- to four-family                                      |            |             |           
|Equity lines of credit and home equity loans                   |            |             |           
|                                                               |            |             |           
|Total loans sold                                               |            |             | $         
|                                                               |            |             |           
|Gain on sale of one- to four-family mortgages                  |            |             | $         
|Gain on sale of equity lines of credit                         |            |             |           
|                                                               |            |             |           
|Total loan sale gains                                          |            |             | $         
|                                                               |            |             |           
|Margin on one- to four-family loan sales                       |            |             |           
|Loan Servicing                                                 |            |            
|Gain on sale of mortgage servicing rights                      |            |             | $         
|Recovery on mortgage servicing rights impairment               |            |             |           
|Loan servicing fee income                                      |            |             |           
|Capitalized mortgage servicing rights as a percentage of loans |            |            
|serviced for others                                            |            |             |           

Total one- to four-family residential
mortgage loan volume decreased 26% during the current quarter compared to the fourth
quarter of 2005, and was down 9% compared to the first quarter of 2005. Loan volume demand
is declining due to rising market interest rates. Higher loan sale gains in the first quarter of 2006 compared
to the fourth quarter of 2005 resulted from the
increased sales of adjustable one- to four-family loans and also benefited from modestly higher
margins. The decrease in loan sale gains compared to the prior
year is due to lower sales of higher-margin equity lines of credit.
Loan servicing income increased
primarily due to lower amortization expense as loan prepayments have slowed.

Deposit Account Service
Fees

|                                             | QE 3/31/06 | QE 12/31/05 | QE 3/31/05
|-------------------------------------------- | ---------- | ----------- | ----------
|Deposit account service fees (000's)         |            |             | $         
|Deposit account service fees / total revenue |            |             |           
|Number of checking accounts (period end)     |            |             |           

The 6% increase in the number of
checking accounts during the current quarter is primarily due to the acquisition of EFC.
The decrease on sequential quarter basis fee income is due to
seasonal declines in consumer overdraft activity.
Deposit account service fees increased 14% over fees recorded in last years
first quarter, primarily attributable to increases in debit
card activity and a large beposit base.

3

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Real Estate Development
Operations

|                                                               | QE 3/31/06 | QE 12/31/05 | QE 3/31/05
|-------------------------------------------------------------- | ---------- | ----------- | ----------
|Real estate development income - total (000's)                 |            |             | $         
|Residential lot sale closings                                  |            |             |           
|Pending lot sales at quarter end                               |            |             |           
|Investment in real estate held for development or sale (000's) |            |             | $         

Activity during the first quarter of
2006 reflects closings of lots previously under contract in the initial phases of the
Springbank project. Work is underway on the next phase where sales are expected to
commence later in the year. Income from real estate for the fourth quarter of 2005 also includes
$482,000 related to a prior land development project. Springbank has been selected as the site for the
Northern Illinois Home Builders Associations 2006 Cavalcade of Homes, to be held this summer.
This annual showcase of model homes is expected to bring considerable attention
and customer traffic to the development and offers unique sales opportunities. Due to the timing of this event and
the pace of improvements, sales
in the project are expected to be higher in the second half of the year.

Non-Interest Expense

|                                       | QE 3/31/06 | QE 12/31/05 | QE 3/31/05
|-------------------------------------- | ---------- | ----------- | ----------
|Total non-interest expense (000's)     |            |             | $         
|Non-interest expense to average assets |            |             |           
|Efficiency ratio(1)                    |            |             |           

|(1) | The efficiency ratio is calculated by dividing non-interest expense by the sum
          of net interest income and non-interest income, excluding net gain (loss) on
          sale of mortgage-backed and investment securities and mortgage servicing rights.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

1st Quarter 2006 v. 4th Quarter 2005.The increase in non-interest expense during the first quarter of 2006, and is primarily
attributable to the acquisition and costs related to the data processing conversion of EFC completed during the
quarter.  In addition, normal salary increases and higher incentive accruals, employment taxes and medical
insurance expenses contributed to the increase relative to the prior quarter.
Many of the projected cost savings from EFC will not be fully realized until
the second quarter, including the closing of two branches.  The increase in the
Companys efficiency ratio compared to the prior quarter reflects the impact on non-interest expenses
from the EFC acquisition, as well as the decline in non-interest income.

1st Quarter 2006 v. 1st Quarter 2005.Compared to a year ago, total non-interest expense increased $1.1 million, or 2.2%.
Compensation and benefits were up modestly due to the impact of the EFC transaction and
normal salary increases, offset by the efficiency improvements realized later in 2005, the
reduction of incentive accruals and a workmens compensation
insurance refund based on insurance company audits of prior years activity. Office occupancy and equipment increased
by $1.0 million, or 14.4%, primarily due to occupancy expense related to ten new branches
added over the past year, including seven branches acquired in the EFC acquisition. Other
non-interest expenses declined by $937,000 primarily due to lower professional expense,
lower telephone expense, reduced recording fees and lower fraud and bad check losses.

4

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Income Tax Expense

Income tax expense totaled $13.0
million in the current quarter, equal to an effective income tax rate of 34.1%, lower than
the 35.0% reported in the fourth quarter of 2005 and the quarter ended March 31, 2005. The
decrease in the effective tax rate over the past three months was attributable in part
to an increase in tax-exempt investments and tax-advantaged bank-owned life insurance
(BOLI) investments acquired from EFC. The lower effective tax rate in the current quarter compared to the
first quarter of 2005 was primarily attributable to the increase in tax-exempt and BOLI investments.

Asset Quality

|                                                | 3/31/06 | 12/31/05 | 3/31/05
|----------------------------------------------- | ------- | -------- | -------
|
|Non-performing loans (NPL)                      |         |          | $      
|Non-performing assets (NPA)                     |         |          |        
|NPL / total loans                               |         |          |        
|NPA / total assets                              |         |          |        
|Allowance for loan losses (ALL)                 |         |          | $      
|ALL / total loans                               |         |          |        
|ALL / NPL                                       |         |          |        
|Provision for loan losses for the quarter ended |         |          | $      
|Net charge-offs for the quarter ended           |         |          |        

Asset quality at the end of the
current quarter remained solid. The increase in non-performing loans during the quarter
reflects higher delinquencies in the one- to four-family and
equity lines of credit portfolios and the acquisition of EFC. The Company acquired a $4.3
million allowance in the EFC acquisition. Net charge-offs in the first quarter of 2006
consisted primarily of one- to four-family and
equity lines of credit. At March 31, 2006, 91% of non-performing loans consisted of loans
secured by one- to four-family residential properties, compared to 93% reported at
December 31, 2005.

Balance Sheet &
Capital

|                                    | 3/31/06 | 12/31/05 | 3/31/05
|----------------------------------- | ------- | -------- | -------
|
|Assets:                             |         |          |        
|Total assets                        |         |          | $      
|Loans receivable                    |         |          |        
|Mortgage-backed securities          |         |          |        
|Liabilities and Equity:             |         |         
|Total liabilities                   |         |          | $      
|Deposits                            |         |          |        
|Borrowed funds                      |         |          |        
|Junior subordinated debentures      |         |          |        
|Stockholders equity                |         |          |        
|Other:                              |         |         
|Core deposits / total deposits      |         |          |        
|Book value per share                |         |          | $      
|Stockholders equity / total assets |         |          |        

5

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Deposit Composition

|                               | 3/31/06 | 12/31/05 | 3/31/05
|------------------------------ | ------- | -------- | -------
|
|
|Commercial checking            |         |          | $      
|Non-interest bearing checking  |         |          |        
|Interest-bearing checking      |         |          |        
|Commercial money market        |         |          |        
|Money market                   |         |          |        
|Passbook                       |         |          |        
|                               |         |          |        
|Core deposits                  |         |          |        
|                               |         |          |        
|Certificates of deposit        |         |          |        
|                               |         |          |        
|Unamortized premium (discount) |         |          |        
|                               |         |          |        
|Total deposits                 |         |          | $      
|                               |         |          |        

Stockholders Equity

The Company issued $101.0 million of
stock, totaling 2.34 million shares, for the acquisition of EFC. During the current quarter, the
Company paid $8.5 million in cash dividends, and spent $31.8 million for the repurchase of
738,005 shares of its common stock at an average price of $43.06. The Banks
tangible, core and risk-based capital ratios at March 31, 2006
exceeded minimum and well-capitalized regulatory capital requirements.

Company Profile

MAF Bancorp is the parent company of
Mid America Bank, a federally chartered stock savings bank. The Bank currently operates a
network of 82 retail banking offices throughout Chicago and Milwaukee and their
surrounding areas. Offices in Wisconsin operate under the name St. Francis Bank, a
division of Mid America Bank. The Companys common stock trades on the Nasdaq
Stock Market under the symbol MAFB.

Forward-Looking
Information

Statements contained in this news
release that are not historical facts, constitute forward-looking statements (within the
meaning of Section 21E of the Securities Exchange Act of 1934, as amended), which involve
significant risks and uncertainties. The Company intends such forward-looking statements
to be covered by the safe harbor provisions for forward-looking statements contained in
the Private Securities Litigation Reform Act of 1995, and is including this statement for
purposes of invoking these safe harbor provisions. These forward-looking statements, which
are based on certain assumptions and describe future plans, strategies and expectations of
the Company, are generally identifiable by use of the words believe,
expect, intend, anticipate, estimate,
project, plan, or similar expressions. The Companys ability
to predict results or the actual effect of future plans or strategies is

6

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inherently
uncertain and actual results may differ from those predicted. The Company undertakes no
obligation to update these forward-looking statements in the future.

Factors which could have a material
adverse effect on operations and could affect managements outlook or future
prospects of the Company and its subsidiaries include, but are not limited to,
unanticipated changes in interest rates or further flattening or inversion of the yield curve,
unanticipated changes in secondary mortgage market conditions, deposit flows, competition,
adverse federal or state legislative or regulatory developments, higher than expected
compliance costs, changes in economic conditions which result in increased delinquencies in the
Companys loan portfolio, the quality or composition of the Companys loan or
investment portfolios, demand for loan products, financial services and residential real
estate in the Companys market areas, delays in our real estate development project,
difficulties relating to the integration of the EFC acquisition and the possible
short-term dilutive effect of the EFC acquisition or other potential acquisitions, if any,
and changes in accounting principles, policies and guidelines. These risks and
uncertainties should be considered in evaluating forward-looking statements and undue
reliance should not be placed on such statements.

7

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MAF BANCORP, INC. AND
SUBSIDIARIES CONSOLIDATED STATEMENTS
OF OPERATIONS (Dollars in thousands, except per share data)

|                                                    | Three Months Ended
March 31,
|--------------------------------------------------- | ----------------------------
|
|
|Interest income                                     |                             
|Interest expense                                    |                             
|                                                    |                             
|Net interest income                                 |                             
|Provision for loan losses                           |                             
|                                                    |                             
|Net interest income after provision for loan losses |                             
|Non-interest income:                                |                             
|Net gain (loss) on sale of:                         |                             
|Loans receivable held for sale                      |                             
|Investment securities                               |                             
|Foreclosed real estate                              |                             
|Deposit account service charges                     |                             
|Other loan fees                                     |                             
|Bank-owned life insurance                           |                             
|Brokerage and insurance commissions                 |                             
|Loan servicing fee income                           |                             
|Valuation recovery on mortgage servicing rights     |                             
|Income from real estate operations                  |                             
|Other                                               |                             
|                                                    |                             
|Total non-interest income                           |                             
|Non-interest expense:                               |                             
|Compensation and benefits                           |                             
|Office occupancy and equipment                      |                             
|Advertising and promotion                           |                             
|Data processing                                     |                             
|Other                                               |                             
|Amortization of core deposit intangibles            |                             
|                                                    |                             
|Total non-interest expense                          |                             
|                                                    |                             
|Income before income taxes                          |                             
|Income taxes                                        |                             
|                                                    |                             
|Net income                                          |                             
|                                                    |                             
|Basic earnings per share                            |                             
|                                                    |                             
|Diluted earnings per share                          |                             
|                                                    |                             
|Average common and common equivalent shares         |                             
|outstanding (in thousands):                         |                             
|Basic                                               |                             
|Diluted                                             |                             

8

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MAF BANCORP, INC. AND
SUBSIDIARIES CONSOLIDATED STATEMENTS
OF FINANCIAL CONDITION (Dollars in thousands)

|                                                                               | March 31,
2006 | December 31,
2005
|------------------------------------------------------------------------------ | -------------- | -----------------
|
|Assets                                                                         |                |                  
|Cash and due from banks                                                        |                |                  
|Interest-bearing deposits                                                      |                |                  
|Federal funds sold                                                             |                |                  
|                                                                               |                |                  
|Total cash and cash equivalents                                                |                |                  
|Investment securities available for sale, at fair value                        |                |                  
|Stock in Federal Home Loan Bank of Chicago, at cost                            |                |                  
|Mortgage-backed securities available for sale, at fair value                   |                |                  
|Mortgage-backed securities held to maturity (fair value $227,020 and $237,489) |                |                  
|Loans receivable held for sale                                                 |                |                  
|Loans receivable, net                                                          |                |                  
|Allowance for loan losses                                                      |                |                  
|                                                                               |                |                  
|Loans receivable, net of allowance for loan losses                             |                |                  
|                                                                               |                |                  
|Accrued interest receivable                                                    |                |                  
|Foreclosed real estate                                                         |                |                  
|Real estate held for development or sale                                       |                |                  
|Premises and equipment, net                                                    |                |                  
|Bank-owned life insurance                                                      |                |                  
|Other assets                                                                   |                |                  
|Goodwill                                                                       |                |                  
|Intangibles, net                                                               |                |                  
|                                                                               |                |                  
|Total assets                                                                   |                |                  
|                                                                               |                |                  
|Liabilities and Stockholders Equity                                           |                |                  
|Liabilities:                                                                   |                |                  
|Deposits                                                                       |                |                  
|Borrowed funds                                                                 |                |                  
|Junior subordinated debentures                                                 |                |                  
|Advances by borrowers for taxes and insurance                                  |                |                  
|Accrued expenses and other liabilities                                         |                |                  
|                                                                               |                |                  
|Total liabilities                                                              |                |                  
|                                                                               |                |                  
|Stockholders equity:                                                          |                |                  
|Preferred stock, $.01 par value; authorized 5,000,000 shares; none             |                |                  
|outstanding                                                                    |                |                  
|Common stock, $.01 par value; 80,000,000 shares authorized; 34,499,494 and     |                |                  
|33,634,642 shares issued; 33,854,382 and 32,066,721 shares outstanding         |                |                  
|                                                                               |                |                  
|Additional paid-in capital                                                     |                |                  
|Retained earnings, substantially restricted                                    |                |                  
|Accumulated other comprehensive loss, net of tax                               |                |                  
|Treasury stock, at cost 645,112 and 1,567,921 shares                           |                |                  
|                                                                               |                |                  
|Total stockholders equity                                                     |                |                  
|                                                                               |                |                  
|                                                                               |                |                  
|                                                                               |                |                  

9

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MAF BANCORP, INC. AND
SUBSIDIARIES SELECTED FINANCIAL DATA 
(In thousands, except share
data) (Unaudited)

|                                                    | March 31,
2006 | December 31,
2005 | March 31,
2005
|--------------------------------------------------- | -------------- | ----------------- | --------------
|Book value per share                                |                |                   | $             
|Tangible book value per share(1)                    |                |                   |               
|Stockholders equity to total assets                |                |                   |               
|Tangible stockholders equity to tangible assets(1) |                |                   |               
|Tangible capital ratio (Bank only)                  |                |                   |               
|Core capital ratio (Bank only)                      |                |                   |               
|Risk-based capital ratio (Bank only)                |                |                   |               
|Common shares outstanding                           |                |                   |               
|Mortgage loans serviced for others                  |                |                   | $             
|Capitalized mortgage servicing rights, net          |                |                   |               
|Core deposit intangibles, net                       |                |                   |               

|                                                 | Three Months Ended
March 31,
|------------------------------------------------ | ----------------------------
|
|Average balance data:                            |                             
|Total assets                                     |                             
|Loans receivable                                 |                             
|Interest-earning assets                          |                             
|Interest-bearing deposits                        |                             
|Interest-bearing liabilities                     |                             
|Stockholders equity                             |                             
|Performance ratios (annualized):                 |                             
|Return on average assets                         |                             
|Return on average equity                         |                             
|Return on average tangible equity((1))           |                             
|Average yield on interest-earning assets         |                             
|Average cost of interest-bearing liabilities     |                             
|Interest rate spread                             |                             
|Net interest margin                              |                             
|Non-interest expense to average assets           |                             
|Non-interest expense to average assets and loans |                             
|serviced for others                              |                             
|Efficiency ratio((2))                            |                             
|Loans sold                                       |                             
|Cash dividends declared per share                |                             

|(1) | See "Reconciliation of GAAP to Non-GAAP Financial Measrues"
 on the following page.
|--- | -----------------------------------------------------------------------------------

|(2) | The efficiency ratio is calculated by dividing non-interest expense by the sum
          of net interest income and non-interest income, excluding net gain (loss) on
          sale of mortgage-backed and investment securities and mortgage servicing rights.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

10

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MAF BANCORP, INC. AND
SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

This press release contains certain financial
information determined by methods other than in
accordance with accounting principles generally accepted in the United States of America, or GAAP.
These measures include tangible book value per share, tangible stockholders equity to
tangible assets ratio, and annualized return on average tangible equity. The Companys management uses these non-GAAP
measures in its analysis of the Companys performance and financial condition and believes this presentation
provides useful supplemental information that is helpful in understanding our financial condition and results, as they
provide a method to assess managements success in managing and utilizing tangible capital. These discloures should not be considered an
alternative to GAAP, nor are they necessarily comparable to non-GAAP performance measures that might be
presented by other companies.

Tangible Book Value Per Share

Tangible book value per share is calculated by dividing
(a) stockholders equity less the sum of goodwill and core deposit intangibles, by (b) common shares outstanding.  The following
table presents a reconciliation of stockholders equity to tangible stockholders equity (in thousands):

|                                   | 3/31/06 | 12/31/05 | 3/31/05
|---------------------------------- | ------- | -------- | -------
|
|
|Stockholders equity - as reported |         |          | $      
|Goodwill                           |         |          |        
|Core deposit intangibles           |         |          |        
|                                   |         |          |        
|Tangible stockholders equity      |         |          | $      
|                                   |         |          |        

Tangible Stockholders Equity to Tangible Assets

Tangible stockholders equity to tangible assets is calculated by dividing (a) stockholders equity
less the sum of goodwill and core deposit intangibles, by (b) total assets less the sum of goodwill and core deposit intangibles.
The following
table presents a reconciliation of total assets to tangible assets (in thousands):

|                           | 3/31/06 | 12/31/05 | 3/31/05
|-------------------------- | ------- | -------- | -------
|Total assets - as reported |         |          | $      
|Goodwill                   |         |          |        
|Core deposit intangibles   |         |          |        
|                           |         |          |        
|Tangible total assets      |         |          | $      
|                           |         |          |        

Return on Average Tangible Stockholders Equity

Return on average tangible stockholders equity is calculated by dividing (a) annualized
net income by (b) average stockholders equity less the sum of average goodwill and core deposit intangibles. The following
table presents a reconciliation of average stockholders equity to average tangible stockholders equity (in thousands):

|                                      | 3/31/06 | 12/31/05 | 3/31/05
|------------------------------------- | ------- | -------- | -------
|Average stockholders equity          |         |          | $      
|Average goodwill                      |         |          |        
|Average core deposit intangibles      |         |          |        
|                                      |         |          |        
|Average tangible stockholders equity |         |          | $      
|                                      |         |          |        

11

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