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
SECOND QUARTER EARNINGS OF

# $.75 PER SHARE

Clarendon Hills, Illinois, July 21,
2006  MAF Bancorp, Inc. (MAFB) reported net income for the quarter ended June 30,
2006 of $25.7 million, or $.75 per diluted share, compared to net income of $25.1 million,
or $.76 per diluted share in last years second quarter, and $25.1 million, or $.74
per diluted share in the first quarter of 2006. Net income for the six months ended June
30, 2006 was $50.8 million or $1.49 per diluted share compared to $49.2 million, or $1.48
per diluted share for the comparable period in 2005.

# Net Interest Income
and Net Interest Margin

|                                             | QE 6/30/06 | QE 3/31/06 | QE 6/30/05         
|-------------------------------------------- | ---------- | ---------- | -------------------
|Net interest margin                          |            |            | 2.55               
|Interest rate spread                         |            |            | 2.28               
|Net interest income (000's)                  |            |            | $            66,927
|Average assets:                              |            |           
|Yield on interest-earning assets             |            |            | 5.73               
|Yield on loans receivable                    |            |            | 6.05               
|Yield on mortgage-backed securities          |            |            | 4.58               
|Average interest-earning assets (000's)      |            |            | $      10,499,839  
|Average liabilities:                         |            |           
|Cost of interest-bearing liabilities         |            |            | 3.45               
|Cost of deposits                             |            |            | 2.86               
|Cost of borrowed funds                       |            |            | 4.53               
|Cost of junior subordinated debt             |            |            | 6.55               
|Average interest-bearing liabilities (000's) |            |            | $      9,665,199   

Net Interest Margin:
2nd Quarter 2006 v. 1st Quarter 2006. The net
interest margin declined nine basis points during the quarter primarily due to the cost of
interest-bearing liabilities continuing to increase at a faster pace than the yield on
interest-earning assets. In addition to higher short-term interest rates, the higher cost
of interest-bearing liabilities in the current period reflects a change in the mix of
deposits as consumers continue to move deposits into higher-yielding certificates of
deposit. Due to the pressure on net interest margin from the flat yield curve environment
and other factors, we are limiting growth in our lowest yielding asset categories
consisting of one- to four-family first mortgages and securities and using cash flows from
these portfolios to grow business banking loans or repay maturing borrowings. The growth in average interest-earning assets and interest-bearing liabilities primarily reflects the impact of

1

---

the EFC Bancorp acquisition that closed on February 1,2006. Stock repurchases during the current quarter benefited earnings per share results but had a
negative effect on the net interest margin and net interest income as borrowed funds were
used for these repurchases. We expect further compression in the net interest margin due to flat yield curve environment and changing deposit mix.

Net Interest Margin:
2nd Quarter 2006 v. 2nd Quarter 2005.On a
year-over-year basis, the net interest margin declined by 41 basis points. The rise in
short-term interest rates, a flattening yield curve environment over the past 12 months,
lower yield on our investment in Federal Home Loan Bank of Chicago stock, higher deposit
pricing driven by increased pricing competition and a continued shift of funds out of
lower cost core deposits into certificates of deposit have all negatively impacted our net
interest margin. Additionally, we repurchased 1.6 million shares of stock and increased
our investments in bank owned life insurance and real estate held for development in the
last twelve months using borrowed funds, which improved earnings per share results but had the effect of reducing the net interest margin.

Loan Portfolio Composition1

|                                | 6/30/06 | 3/31/06 | 12/31/05 |                |  | 
|------------------------------- | ------- | ------- | -------- | -------------- |  | 
|
|One- to four-family             |         |         |          | $   4,574,181  |  | 
|Home equity lines of credit     |         |         |          | 1,283,042      |  | 
|Home equity  and consumer loans |         |         |          | 96,229         |  | 
|Multi-family                    |         |         |          | 787,180        |  | 
|Commercial real estate          |         |         |          | 610,881        |  | 
|Construction                    |         |         |          | 164,433        |  | 
|Land                            |         |         |          | 289,183        |  | 
|Commercial business loans       |         |         |          | 190,367        |  | 
|                                |         |         |          |                |  | 
|Total loans receivable, net     |         |         |          | $    7,995,496 |  | 
|                                |         |         |          |                |  | 
|                                |         |         |          |                |  | 

|(1) | Certain loan reclssifications have been made for March 31, 2006 and December 31, 2005 to conform to current period classification.
|--- | ----------------------------------------------------------------------------------------------------------------------------------

Non one- to four-family and home equity loans grew at an annualized rate of 18%,  primarily reflecting organic growth in our business banking operations. The modest  decline in our loan  portfolio  since March 31, 2006 (3.6%  annualized),  reflects our strategy to
limit  growth in lower yielding one-to  four-family  residential  loans by selling  more of our  originations,  while  emphasizing
growth in other loan categories.

# Non-Interest Income

|                                     | QE 6/30/06 | QE 3/31/06 | QE 6/30/05
|------------------------------------ | ---------- | ---------- | ----------
|Total non-interest income (000's)    |            |            |           
|Non-interest income / total revenue1 |            |            |           

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

Non-interest income increased 6.2%
compared to the first quarter of 2006 and increased 19.5% compared to the second quarter
of 2005. The increases are primarily the result of higher deposit service fee income and brokerage commissions.
Increased bank-owned life insurance investments and higher yields on these investments
along with a $781,000 gain from the sale of fixed assets and other real estate also
contributed to the increase in non-interest income in the current quarter.

2

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Residential Mortgage
Originations, Sales and Servicing

|                                                      | QE 6/30/06 | QE 3/31/06 | QE 6/30/05
|----------------------------------------------------- | ---------- | ---------- | ----------
|
|1-4 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                             |            |            |           
|Home equity loans and lines of credit                 |            |            |           
|                                                      |            |            |           
|Total loans sold                                      |            |            | $         
|                                                      |            |            |           
|Gain on sale of one- to four - family mortgages       |            |            | $         
|Gain on sale of home equity loans and lines of credit |            |            |           
|                                                      |            |            |           
|Total loan sale gains                                 |            |            | $         
|                                                      |            |            |           
|Margin on one- to four - family loan sales            |            |            |           
|Loan Servicing                                        |            |           
|Loan servicing fee income                             |            |            |           
|Capitalized mortgage servicing rights as a percentage |            |           
|of loans serviced for others                          |            |            |           

Despite the continued increase in
mortgage interest rates, the seasonal pattern of one- to four-family residential mortgage
lending resulted in a pick-up in volume in the current quarter, increasing 21% compared to
the first quarter of 2006. The one- to four-family origination volume totals in the current quarter
were 15% below the results from the second quarter of 2005, consistent with the
slowdown in the residential mortgage industry.

We increased our loan sale volume 29%
in the current quarter compared to the first quarter of 2006, limiting balance sheet
growth. Margins on sale declined due to selling a higher proportion of
adjustable rate mortgages, which have a lower gain on sale margin and the rising rate environment. Lower sales volume of
high-margin equity lines of credit during the current quarter also impacted loan sale gains.
Compared to the second quarter of last year, loan sale volume and gains both advanced.

Deposit Account Service
Fees

|                                             | QE 6/30/06 | QE 3/31/06 | QE 6/30/05
|-------------------------------------------- | ---------- | ---------- | ----------
|Deposit account service charges (000's)      |            |            | $         
|Deposit account service fees / total revenue |            |            |           
|Number of checking accounts (period end)     |            |            |           

3

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While the number of checking accounts
remained stable during the current quarter, deposit service fees increased considerably
due to an increase in consumer overdraft activity. The year-over-year and sequential
quarter growth rates were the highest we have reported in a number of quarters. An
expansion of the deposit base relating to the February 2006 EFC Bancorp acquisition also
contributed to the improvement in fees.

Real Estate Development
Operations

|                                                               | QE 6/30/06 | QE 3/31/06 | QE 6/30/05
|-------------------------------------------------------------- | ---------- | ---------- | ----------
|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 half of
2006 primarily reflects closings of lots previously under contract in the initial phases of the
Springbank project. Included in the results is $111,000 for the second quarter of 2006 and $318,000 for the first quarter of 2006 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. However, sales in the
second half of the year will likely be impacted by the slowdown in the real estate market
which would negatively affect real estate profits for the remainder of 2006.

Non-Interest
Expense

|                                       | QE 6/30/06 | QE 3/31/06 | QE 6/30/05
|-------------------------------------- | ---------- | ---------- | ----------
|Total non-interest expense (000's)     |            |            | $         
|Non-interest expense to average assets |            |            |           
|Efficiency ratio1                      |            |            |           

|(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 and writedown of mortgage-backed and  investment securities and fixed assets.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

2nd Quarter 2006 v.
1st Quarter 2006. Total non-interest expense for the current
quarter decreased $881,000, or 1.8% compared to the first quarter of 2006. The decline is
primarily attributable to a decline in compensation and benefits, lower data processing
expense compared to the first quarter which included $300,000 related to the EFC conversion and processing and lower professional expense. An improved efficiency ratio in the current quarter as well as a lower ratio of non-interest expense to average assets highlight our successful cost containment efforts. Total non-interest expense declined during the
quarter despite operating the seven additional EFC branches for the full period.

2nd Quarter 2006 v.
2nd Quarter 2005. Compared to the second quarter of 2005, total
non-interest expense in the current quarter increased $1.7 million, or 3.7%. Compensation
and benefits increased by $2.1 million, or 8.2%, due to normal salary increases and
increased employee headcount, partly due to the EFC Bancorp acquisition, which closed in
February 2006. Office occupancy and equipment increased by $845,000, or 11.7%, primarily
due to occupancy expense related to two new branches added over the past year and seven
branches acquired in the EFC acquisition. Advertising and promotion expenses were $953,000
lower in the current quarter due to a decrease in promotional campaigns. Other
non-interest expenses declined by $926,000 primarily due to lower professional expenses
and lower costs related to reserves for contingent liabilities.

4

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# Income Tax Expense

Income tax expense totaled $13.2
million in the current quarter, equal to an effective income tax rate of 33.9%, compared
to 34.1% reported in the first quarter of 2006 and 34.8% reported for the second quarter
of 2005. The decrease in the effective tax rate compared to the second quarter of last
year was attributable in part to an increase in tax-exempt investments and tax-advantaged
bank-owned life insurance (BOLI) investments.

# Asset Quality

|                                                | 6/30/06 | 3/31/06 | 6/30/05
|----------------------------------------------- | ------- | ------- | -------
|
|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           |         |         |        

We experienced an increase in
non-performing loans and charge-offs in the current quarter, primarily relating to our
residential mortgage loan portfolio. Approximately $1.6 million of the $2.0 million in
gross charge-offs in the quarter were related to equity lines of credit. Most of these
loans were higher risk loans at the time of origination with higher loan to value levels and there were several instances of loan customer fraud contributing to these charge-offs.
We have recently undertaken efforts to enhance certain of our underwriting and recording processes
to help mitigate loss exposure on higher risk products, including the increasing incidence of fraud in the mortgage industry.
The increase in the provision for loan losses in the current quarter is primarily the
result of the increased level of charge-offs, shift in the mix of the portfolio, and
higher non-performing loans. At June 30, 2006, loans secured by one-to four-family residential real estate
continued to comprise 90.6% of non-performing loans compared to 90.6% at March 31, 2006,
and 94.5% at June 30, 2005.

5

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# Balance Sheet &
Capital

|                               | 6/30/06 | 3/31/06 | 12/31/05
|------------------------------ | ------- | ------- | --------
|
|Assets:                        |         |         |         
|Total assets                   |         |         | $       
|Loans receivable, net          |         |         |         
|Mortgage-backed securities     |         |         |         
|                               |         |         |         
|Liabilities and Equity:        |         |        
|Total liabilities              |         |         | $       
|Deposits                       |         |         |         
|Borrowed funds                 |         |         |         
|Junior subordinated debentures |         |         |         
|Stockholders' equity           |         |         |         

Deposit Composition

|                              | 6/30/06 | 3/31/06 | 12/31/05 |                  |   | 
|----------------------------- | ------- | ------- | -------- | ---------------- | - | 
|
|
|Commercial checking           |         |         |          | $        307,668 |   | 
|Non-interest bearing checking |         |         |          | 299,767          |   | 
|Interest-bearing checking     |         |         |          | 780,470          |   | 
|Commercial money market       |         |         |          | 87,244           |   | 
|Money market                  |         |         |          | 698,278          |   | 
|Passbook                      |         |         |          | 1,255,464        |   | 
|                              |         |         |          |                  |   | 
|Core deposits                 |         |         |          | 3,428,891        |   | 
|                              |         |         |          |                  |   | 
|Certificates of deposit       |         |         |          | 3,498,157        |   | 
|Unamortized premium           |         |        
|(discount), net               |         |         |          | (511             | ) | 
|                              |         |         |          |                  |   | 
|Total deposits                |         |         |          | $      6,926,537 |   | 
|                              |         |         |          |                  |   | 

Rate competition made deposit growth challenging during the quarter. Core deposit
levels declined as higher certificate of deposit rates attracted consumers to continue
moving into these products. Despite the loss of some core deposits during the quarter, we
continued to retain a large base of these low-cost deposits, supporting our net interest
income results in the face of a continuing flat treasury yield curve environment.

6

---

On July 17, 2006, we refinanced our
term loan facility with various lenders. We increased by $40 million the amount of this
borrowing to $155 million, which matures in 2015. The new credit agreement provides for a
revolving line of credit for borrowings up to $60 million, the same amount included in the
prior credit facility. At June 30, 2006, there was $50 million outstanding under the line
of credit. The additional loan proceeds were used primarily to repay line of credit
borrowings incurred to fund stock repurchases, additional investment in real estate, and a
portion of the cash consideration for the EFC acquisition.

Stockholders
Equity

During the current quarter, we
declared $8.3 million in cash dividends, and repurchased 857,595 shares of our common
stock at an average price of $43.16. The continued rise in interest rates led to an
increase of $9.9 million in the after-tax unrealized loss on securities held for sale,
which is recorded as a reduction in stockholders equity. The Banks tangible,
core and risk-based capital ratios at June 30, 2006 exceeded minimum and well-capitalized
regulatory capital requirements.

# Results for the Six
Months Ended June 30, 2006

Diluted earnings per share totaled
$1.49 in the current six-month period compared to $1.48 last year. For the six months
ended June 30, 2006, net income totaled $50.8 million compared to $49.2 million in last
years comparable period. Net interest income totaled $134.4 million compared to
$134.6 million last year. Return on equity for the six months ended June 30, 2006 was
9.67% compared to 10.30% for the six months ended June 30, 2005.

Non-interest income totaled $42.7
million for the six months ended June 30, 2006, or 24% of total revenue. For the six
months ended June 30, 2005, non-interest income was $36.7 million, or 21% of total
revenue. Higher deposit account service charges, income from bank-owned life insurance and
real estate operations during the current six-month period was offset by lower gain on
sale of loans and investment securities.

Non-interest expense totaled $98.5
million in the current six-month period, compared to $95.6 million reported for the six
months ended June 30, 2005, an increase of 2.9%. Compensation and benefits expense
increased by 4.6% for the current six-month period compared to the prior year period while
occupancy and equipment costs increased by 13.0% over this same period. At June 30, 2006,
the number of branch office facilities increased by nine compared to a year ago due to the
EFC Bancorp acquisition and the opening of two denovo branches.

Income tax expense totaled $26.2
million in the current six-month period, equal to an effective income tax rate of 34.0%,
compared to $26.4 million or 34.9% reported for the six months ended June 30, 2005. The
decrease in the effective tax rate compared to the previous year was attributable in part
to an increase in tax-exempt investments and tax-advantaged
(BOLI) investments.

7

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# 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 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, deterioration in local housing markets, the possible short-term dilutive effect of 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.

8

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# MAF BANCORP, INC. AND
SUBSIDIARIESCONSOLIDATED
STATEMENTS OF OPERATIONS

(Dollars in thousands,
except per share data)

|                                                    | Three Months Ended
June 30, | Six Months Ended
June 30, |   |        
|--------------------------------------------------- | --------------------------- | ------------------------- | - | -------
|
|
|
|Interest income                                     |                             |                           | $ | 150,137
|Interest expense                                    |                             |                           |   | 83,210 
|                                                    |                             |                           |   |        
|Net interest income                                 |                             |                           |   | 66,927 
|Provision for loan losses                           |                             |                           |   | 1,250  
|                                                    |                             |                           |   |        
|Net interest income after provision for loan losses |                             |                           |   | 65,677 
|Non-interest income:                                |                             |                          
|Net gain (loss) on sale of:                         |                             |                          
|Loans receivable held for sale                      |                             |                           |   | 2,429  
|Investment securities                               |                             |                           |   |       
|Fixed assets                                        |                             |                           |   | 781    
|Foreclosed real estate                              |                             |                           |   | (50    
|Income from real estate operations                  |                             |                           |   | 350    
|Deposit account service charges                     |                             |                           |   | 10,669 
|Other loan fees                                     |                             |                           |   | 1,211  
|Loan servicing fee income, net                      |                             |                           |   | 843    
|Valuation recovery on mortgage servicing rights     |                             |                           |   |       
|Bank owned life insurance income                    |                             |                           |   | 1,861  
|Brokerage commissions                               |                             |                           |   | 1,549  
|Other                                               |                             |                           |   | 2,349  
|                                                    |                             |                           |   |        
|Total non-interest income                           |                             |                           |   | 21,992 
|Non-interest expense:                               |                             |                          
|Compensation and benefits                           |                             |                           |   | 27,117 
|Office occupancy and equipment                      |                             |                           |   | 8,064  
|Advertising and promotion                           |                             |                           |   | 2,063  
|Data processing                                     |                             |                           |   | 2,242  
|Other                                               |                             |                           |   | 8,091  
|Amortization of core deposit intangibles            |                             |                           |   | 1,210  
|                                                    |                             |                           |   |        
|Total non-interest expense                          |                             |                           |   | 48,787 
|                                                    |                             |                           |   |        
|Income before income taxes                          |                             |                           |   | 38,882 
|Income taxes                                        |                             |                           |   | 13,195 
|                                                    |                             |                           |   |        
|Net income                                          |                             |                           | $ | 25,687 
|                                                    |                             |                           |   |        
|Basic earnings per share                            |                             |                           | $ | .77    
|                                                    |                             |                           |   |        
|Diluted earnings per share                          |                             |                           | $ | .75    
|                                                    |                             |                           |   |        
|Average common and common equivalent shares         |                             |                          
|outstanding (in thousands):                         |                             |                          
|Basic                                               |                             |                           |   | 33,534 
|Diluted                                             |                             |                           |   | 34,131 

9

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# MAF BANCORP, INC. AND
SUBSIDIARIESCONSOLIDATED
STATEMENTS OF FINANCIAL CONDITION

(Dollars in thousands)

|                                                                               | June 30,
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 $214,404 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; 33,101,550 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 1,397,944 and 1,567,921 shares                         |               |                   |  
|                                                                               |               |                  
|Total stockholders' equity                                                     |               |                   |  
|                                                                               |               |                  
|                                                                               |               |                   | $
|                                                                               |               |                  

10

---

# MAF BANCORP, INC. AND
SUBSIDIARIESSELECTED FINANCIAL DATA

(Dollars in thousands,
except share data)

(Unaudited)

|                                                    | June 30,
2006 | December 31,
2005 | June 30,
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
June 30, | Six Months Ended
June 30, |   |           
|------------------------------------------------ | --------------------------- | ------------------------- | - | ----------
|
|Average balance data:                            |                             |                           |   |           
|Total assets                                     |                             |                           | $ | 11,467,003
|Loans receivable                                 |                             |                           |   | 8,175,605 
|Interest-earning assets                          |                             |                           |   | 10,499,839
|Interest-bearing deposits                        |                             |                           |   | 6,332,805 
|Interest-bearing liabilities                     |                             |                           |   | 9,665,199 
|Stockholders' equity                             |                             |                           |   | 1,056,707 
|Tangible stockholders' equity                    |                             |                           |   | 646,365   
|Performance ratios (annualized):                 |                             |                          
|Return on average assets                         |                             |                           |   | .90       
|Return on average equity                         |                             |                           |   | 9.72      
|Return on average tangible equity1               |                             |                           |   | 15.90     
|Average yield on interest-earning assets         |                             |                           |   | 5.73      
|Average cost of interest-bearing liabilities     |                             |                           |   | 3.45      
|Interest rate spread                             |                             |                           |   | 2.28      
|Net interest margin                              |                             |                           |   | 2.55      
|Non-interest expense to average assets           |                             |                           |   | 1.70      
|Non-interest expense to average assets and loans |                             |                          
|serviced for others                              |                             |                           |   | 1.34      
|Efficiency ratio 2                               |                             |                           |   | 55.35     
|Loans sold                                       |                             |                           | $ | 329,641   
|Cash dividends declared per share                |                             |                           |   | .25       

|(1) | See Reconciliation of GAAP to Non-GAAP Financial Measures 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 fixed assets.
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

11

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# MAF BANCORP, INC. AND
SUBSIDIARIESRECONCILIATION 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 it provides a method to assess managements success in managing
alternatives for the utilization of tangible capital. These disclosures 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):

|                                   | 6/30/06 | 12/31/05 | 6/30/05 |                |   |  |          
|---------------------------------- | ------- | -------- | ------- | -------------- | - |  | ---------
|
|Stockholders' equity - as reported |         |          |         | $   1,038,856  |   |  | $   31.38
|Goodwill                           |         |          |         | (388,156       | ) |  | (11.73   
|Core deposit intangibles           |         |          |         | (21,416        | ) |  | (.65     
|                                   |         |          |         |                |   | 
|Tangible stockholders' equity      |         |          |         | $      629,284 |   |  | $   19.00
|                                   |         |          |         |                |   | 

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):

|                           | 6/30/06 | 12/31/05 | 6/30/05
|-------------------------- | ------- | -------- | -------
|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 average goodwill and core deposit
intangibles. The following table presents a reconciliation of average stockholders
equity to average tangible stockholders equity (in thousands):

|                                      | Three Months Ended June
30, | Six Months Ended
June 30, |   |          
|------------------------------------- | --------------------------- | ------------------------- | - | ---------
|
|Average stockholders' equity          |                             |                           | $ | 1,056,707
|Average goodwill                      |                             |                           |   | (388,135 
|Average core deposit intangibles      |                             |                           |   | (22,207  
|                                      |                             |                           |   |          
|Average tangible stockholders' equity |                             |                           | $ | 646,365  
|                                      |                             |                           |   |          

12

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