First Oak Brook Bancshares, Inc. Announces Fourth Quarter and 2001 Earnings Per Share Soar 25%

Business Wire, Jan 22, 2002

Capital and Dividend Increases

Dividends have increased each year over the last eleven years - at an average rate of 15%. The current cash dividend is $.12 per quarter. For all of 2001, we paid out cash dividends of $.45 per share.

The Company repurchased 50,974 shares of its stock during 2001 at an average price of $20.38. We believe this has been a cost-effective and tax-efficient way to help preserve shareholders' percentage interests in the Company in the face of potentially dilutive stock options.

The Company's and Oak Brook Bank's capital ratios met the "well capitalized" criteria of the Federal Reserve and FDIC, respectively. "Well-capitalized" status reduces Fed regulatory burdens and lessens FDIC insurance assessments.

Other Notable Events

Branches. Oak Brook Bank just completed an extensive rehab of its Broadview office. This included building a new attached drive-up facility, replacing a free-standing drive-up which was sold in January, 2001. Oak Brook Bank is in the final stages of completing its 14th office in Bolingbrook, IL. We are actively investigating other promising branch locations - all in furtherance of the Company's organic growth strategy.

Oak Brook Bank's subsidiary, Oak Real Estate Development Corp., successfully completed its first project on Chicago's near west side. Oak Real Estate is currently working on a 54 unit townhouse project in Lisle, IL, an affluent west suburban community. Oak Real Estate holds options on the land and expects to be a co-venturer with a highly experienced, larger Chicago area home builder.

The Investment Management and Trust Department achieved record revenues in 2001 - up 25% to $1.429 million. At year end 2001 discretionary assets under management rose to $379 million from $271 million the year before - a 40% jump.

Oak Brook Bank expanded its Harley-Davidson motorcycle financing program, ending the year 2001 with $19.0 million in outstandings, up from $5.4 million in outstandings at year-end 2000. This program is national and to date we've signed up Harley dealers in 12 states and have loans in 7 states.

Other

Oak Brook Bank is a wholly owned subsidiary of First Oak Brook Bancshares, Inc. Oak Real Estate Development Corp. is a wholly owned subsidiary of Oak Brook Bank.

The Company's common stock trades on the NASDAQ stock market under the ticker symbol FOBB.

Current market makers in the Common Stock include: Stifel Nicolaus & Co.; Spear, Leeds & Kellogg; Howe Barnes Investments, Inc.; William Blair & Co.; Trident Securities, Inc.; Dain Rauscher Inc.; Keefe, Bruyette & Woods, Inc.; Sandler, O'Neill & Partners; Smith, Moore & Co.; Midwest Research First Tennessee; ABN AMRO Securities; Knight Securities L.P.; Hill, Thompson, Magid & Co.; McConnell Budd & Downes.

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 attached.