Bank of Florida Corporation Responds to Nasdaq Audit.

NAPLES, Fla. -- Bank of Florida Corporation (Nasdaq:BOFL), a $1.3 billion-asset multi-bank holding company based in Naples, Florida, today reported that the Company had received a letter of reprimand from Nasdaq regarding the Company's failure to comply with Nasdaq Marketplace Rule 4350. The letter also acknowledges that the Company took corrective action promptly upon its realization that it had fallen out of compliance.

Chief Executive Officer and President Michael L. McMullan stated that, "Our noncompliance was wholly inadvertent and, in fact, Nasdaq specifically stated 'that the failure does not appear to have been the result of a deliberate intent to avoid compliance and, further the Company acted promptly to cure the deficiency'. Based on these statements and our prompt internal action to remedy the deficiency, we do not see the regulatory justification for Nasdaq's issuing the letter at this time."

The cited noncompliance with Rule 4350 concerned the prior service of a director, deemed to not be independent, on the Company's Audit and Nominating Committees. The director was deemed to be not independent due to his management of a limited liability company which owns the Company's main office. The Company and the limited liability company entered into their lease in 2002 and its terms have not changed since that time. The lease is on fair market terms and complies with all relevant banking regulations.

Bank of Florida Corporation

Bank of Florida Corporation (Nasdaq:BOFL) (Newspaper listing: "BcshFla") is a $1.3 billion-asset multi-bank holding Company located in Naples, Florida. Bank of Florida Corporation is the parent company for Bank of Florida - Southwest in Collier and Lee Counties; Bank of Florida - Southeast in Broward, Miami-Dade and Palm Beach Counties; Bank of Florida - Tampa Bay in Hillsborough County; and Bank of Florida Trust Company. Investor information may be found on the Company's web site, http://www.bankofflorida.com, by clicking on the "Investor Relations" tab. To receive an email alert of all Company press releases, SEC filings, and events, select the "Email Notification" section.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

Certain statements in this press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which statements generally can be identified by the use of forward-looking terminology, such as "may," "will," "expect," "estimate," "anticipate," "believe," "target," "plan," "project," or "continue" or the negatives thereof or other variations thereon or similar terminology, and are made on the basis of management's plans and current analyses of Bank of Florida Corporation, its business and the industry as a whole. These forward-looking statements are subject to risks and uncertainties, including, but not limited to, economic conditions, competition, interest rate sensitivity and exposure to regulatory and legislative changes. The above factors, in some cases, have affected, and in the future could affect Bank of Florida Corporation financial performance and could cause actual results for fiscal 2007 and beyond to differ materially from those expressed or implied in such forward-looking statements. Bank of Florida Corporation does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.