FFLC Bancorp, Inc., Announces Shareholder Approval of Merger and Results of Shareholder Elections

FFLC Bancorp, Inc., Announces Shareholder Approval of Merger and
Results of Shareholder Elections 


LEESBURG, Fla., May 13  /PRNewswire-FirstCall/ -- FFLC Bancorp, Inc.
(NASDAQ:FFLC), the holding company for First Federal Savings Bank of Lake
County.

FFLC President and CEO Stephen T. Kurtz announced that at a meeting of
shareholders of FFLC held on May 12, 2005, shareholders overwhelmingly approved
the merger of FFLC and Colonial BancGroup, Inc., and that approximately 94% of
the votes cast were in favor of the transaction.  Mr. Kurtz noted that the
merger is expected to close on May 18, 2005, and that the conversion is
expected on June 2, 2005.

In addition, Mr. Kurtz announced that shareholders had elected to receive
approximately $30 million of the purchase price in cash.  Since this amount was
less than the maximum of 35% cash allowed in the agreement, there will be no
prorated distribution of stock and all shareholders will receive cash in the
exact proportion they requested.

First Federal Savings Bank of Lake County conducts business in Lake, Sumter,
Citrus and Marion Counties, Florida, through a network of sixteen branch
offices.  The stock of FFLC Bancorp, Inc. is quoted on the NASDAQ National
Market System under the symbol "FFLC".  First Federal's web site is located at
http://www.1stfederal.com/ .  FFLC Bancorp, Inc.'s SEC filings, press releases
and other supplemental information are available at the web site, in the "FFLC
Bancorp" section. 

DATASOURCE: FFLC Bancorp, Inc.



CONTACT:  Stephen T. Kurtz, President & CEO, FFLC Bancorp,

[phone]



Web site:  http://www.1stfederal.com/ 

Copyright