First Oak Brook Bancshares, Inc.'s 2001 First Quarter Earnings Per Share Rise 18%

Business Wire, April 17, 2001

Business Editors

OAK BROOK, Ill.--(BUSINESS WIRE)--April 17, 2001

2001 First Quarter Earnings

(Unaudited)

FIRST OAK BROOK BANCSHARES, INC., (NASDAQ: FOBB) today announced that net income for the first quarter of 2001 was $2,983,000 compared with $2,544,000 for the same period in 2000, an increase of 17%. Diluted earnings per share were $.46 for 2001 compared with $.39 for 2000, up 18%.

Net interest income increased 6% in the first quarter of 2001 compared to the same period in 2000. Although average earning assets rose 8%, margins narrowed. However, the margin has shown improvement in the first quarter of 2001, improving 10 basis points over the fourth quarter of 2000 to 3.09%.

Excluding security gains, other income increased $787,000 or 33%. The increase includes the non-recurring gain of $172,000 on the sale of property in Broadview, Illinois previously used as a drive-thru facility. In addition, growth in the Company's cash management, trust and merchant credit card businesses also boosted other income.

Other expenses rose 11%, primarily due to higher compensation costs, merchant credit card interchange fees, and costs associated with the new Chicago branch which opened in November 2000.

Strong Credit Quality and Record Capital Levels

(Unaudited)

Asset quality remains excellent, with nonperforming loans (nonaccrual loans and loans past due 90 days or more and still accruing) totaling $561,000, or .07%, of loans outstanding. As of March 31, 2001, the Company's loan loss reserve totaled $5,873,000, or .70% of total loans. Year-to-date net charge offs totaled $34,000, or .02% (annualized) of average loans outstanding.

The Company's total assets were $1.276 billion at March 31, 2001, compared to $1.249 billion at December 31, 2000.

Shareholders' equity reached a record high of $92.0 million at March 31, 2001 compared to $87.6 million at December 31, 2000. During the first quarter the Company repurchased 22,000 shares of its common stock pursuant to its stock repurchase programs at an average price of $20.14. At March 31, 2001 the Oak Brook Bank's Tier 1, Total risk-based, and Leverage capital ratios not only exceeded the minimum regulatory guidelines but also the FDIC criteria for "well capitalized" banks.

Other

First Oak Brook Bancshares, Inc. owns Oak Brook Bank. The Bank operates thirteen banking offices, eleven in the western suburbs, one in the northern suburbs of Chicago, Illinois, and one at Huron and Dearborn Streets in downtown Chicago, in addition to an Internet branch at www.obb.com. In March 2001, the Bank closed on the purchase of property in Bolingbrook, Illinois where the Bank expects to build a future branch.

Current market makers in the Common Stock include: Spear, Leeds & Kellogg; Stifel Nicolaus & Co.; Howe Barnes Investments, Inc.; Dain Rauscher, Inc.; Keefe, Bruyette & Woods, Inc.; Sandler O'Neill & Partners; Trident Securities, Inc. and William Blair & Co.

The Company's Common Stock trades on the Nasdaq Stock Market(SM) under the symbol FOBB.

At our Web site www.firstoakbrook.com you will find shareholder information including this press release and electronic mail boxes. You will also have the option of directly linking to additional financial information filed with the SEC.

A condensed balance sheet, income statement and selected financial data are enclosed.

Forward-Looking Statements

Except for historical matters, this press release contains certain forward looking statements consisting of estimates with respect to the financial condition, results of operations and business of the Company that are subject to various factors which could cause actual results to differ from these estimates. These factors include, but are not limited to, changes in: general economic conditions, interest rates, legislative or regulatory changes, loan demand, depositor preferences, the ability to attract and retain experienced senior management and construction buildout or other delays relating to branch expansion. Therefore, there can be no assurances that future actual results will correspond to these forward-looking statements.