MAF Bancorp Reports First Quarter Earnings of $.73 Per Diluted Share

MAF Bancorp Reports First Quarter Earnings of $.73 Per Diluted
Share 


CLARENDON HILLS, Ill., April 22  /PRNewswire-FirstCall/ -- MAF Bancorp, Inc.
(MAFB)  announced today that net income for the first quarter ended March 31,
2004 totaled $24.8 million compared to $19.3 million in last year's first
quarter.  Earnings per diluted share for the current quarter totaled $.73 per
diluted share, compared to $.81 per diluted share reported for the first
quarter of 2003.  While net income in the current quarter increased, earnings
per share was impacted by the larger number of average shares outstanding as a
result of the completion of the St. Francis Capital Corporation merger in
December 2003 and the Fidelity Bancorp merger in July 2003.

The quarter-over-quarter decline in earnings per share was anticipated since,
as previously reported, most of the expected cost savings from the St. Francis
merger will not begin until the completion of the data processing conversion,
scheduled for the end of May 2004.  In addition, the Company currently expects
most of its real estate development profits to be earned in later quarters of
2004.  As discussed later, the Company currently estimates calendar 2004
results of $3.45-$3.55 per diluted share, an increase of 6%-9% over 2003
results.

               Net Interest Income and Net Interest Margin

                               QE 3/31/04     QE 12/31/03    QE 3/31/03
   Net interest margin               3.10%           3.07%         2.94%
   Net interest income (000's)    $64,029         $52,952       $41,055

   Average assets:
   Yield on interest-earning assets  4.94%           5.05%         5.52%
   Yield on loans receivable         5.14%           5.27%         5.95%
   Yield on mortgage-backed
    securities                       3.74%           3.74%         4.33%
   Yield on investment securities    5.11%           4.70%         4.25%
   Average interest-earning
    assets (000's)             $8,264,886      $6,906,311    $5,586,324

   Average liabilities:
   Cost of interest-bearing
    liabilities                      2.04%           2.20%         2.92%
   Cost of deposits                  1.34%           1.34%         1.98%
   Cost of borrowed funds            3.58%           4.17%         5.06%
   Average interest-bearing
    liabilities (000's)        $7,472,967      $6,206,339    $4,997,307




Net Interest Margin:  March 2004 v. December 2003.  The modest increase in the
net interest margin during the past three months was the result of a slight
improvement in the interest rate spread.  The spread improvement resulted from
a 16 basis point decline in the cost of interest-bearing liabilities that
offset an 11 basis point decline in the yield on interest- earning assets.

The decline in the average yield on interest-earning assets was largely due to
the 13 basis point decrease in the yield on loans receivable.  The pace of
decline in the loan portfolio yield has continued to slow, however, as
refinancing activity has abated during the past two quarters.

The decline in the average cost of interest-bearing liabilities during the
current quarter was attributable to a 59 basis point reduction in the cost of
borrowed funds, which declined because of downward repricing of maturing
borrowings, the addition of floating-rate borrowings and the impact of having a
full three months of lower borrowing costs on liabilities added in connection
with the St. Francis merger.  The cost of deposits, which had been a primary
driver of net interest margin improvements in recent quarters, remained the
same during the past quarter.

The St. Francis merger was the primary reason for the substantial increase in
the balance of most average interest-earning asset and interest-bearing
liability categories, as the December 2003 quarter reflected the results of St.
Francis for only one month.  Compared to the fourth quarter of 2003, average
loans receivable balances increased by $888 million (16%) to $6.46 billion,
average mortgage-backed securities advanced by $404 million (72%) to $963
million and average investment securities were higher by $138 million (23%),
totaling $747 million.

Similar to the growth in average interest-earning assets, the expansion of
average interest-bearing liabilities was largely due to the full quarter effect
from St. Francis.  For the quarter, average deposits increased by $823 million
(19%) to $5.15 billion while average borrowed funds advanced by $444 million
(24%) to $2.32 billion.

Net Interest Margin:  March 2004 v. March 2003. Continuing low interest rates
during the past 12 months fueled heavy loan prepayments, loan refinancing
activity and lower funding costs.  The combination of these factors, along with
the lower borrowing costs on liabilities of St. Francis assumed in the merger,
translated into the Company's funding costs declining at a faster pace than
decreases in assets yields, and led to the 16 basis point increase in the net
interest margin.

                            Lending Production

                                QE 3/31/04     QE 12/31/03    QE 3/31/03
   Loan originations (000's)      $900,883        $959,948    $1,055,901
   Loan originations -
    fixed-rate % *                      29%             30%           51%
   Loan originations -
    refinancing %                       32%             30%           57%

   * exclusive of commercial business loans




While interest rates remained attractive and at historically low levels,
refinancing activity slowed during the past two quarters, leading to the lower
residential mortgage loan volume compared to a year ago.  Home purchase
activity in the Bank's markets remains strong.  Also, the Company continued to
have success in marketing its home equity loan products.  Home equity loan
balances increased to $1.04 billion at March 31, 2004 compared to $966 million
at December 31, 2003 and $447 million at March 31, 2003.   Home equity loan
balances currently represent approximately 16% of the Company's total loan
portfolio.

Non-Interest Income

Overview.  Non-interest income increased to $20.4 million in the current
quarter, compared to $16.0 million reported for the quarter ended March 31,
2003.  Last year's results were highlighted by significant loan sale gains,
higher loan servicing fee expense, some mortgage-backed security gains
resulting from balance sheet restructuring and two investment security
writedowns.  In the current quarter, loan sale gains were much lower, mortgage
servicing-related income was higher and investment securities gains were
realized on the sale of three securities previously written down.

   Loan Sales and Loan Servicing

                                QE 3/31/04     QE 12/31/03    QE 3/31/03
   Loans sold (000's)             $129,494        $411,257      $477,618
   Loan sale gains (000's)          $1,780          $3,008        $7,548
   Margin on loan sales                137 bp           73 bp        158 bp
   Loan servicing fee
    income (expense) (000's)          $241            $117       ($1,376)
   Valuation recovery on mtg.
    servicing rights (000's)          $555          $2,070             -



A decline in loan refinancing activity and a consumer shift toward
adjustable-rate mortgage loans led to considerably lower loan sale gains in the
current quarter compared to the fourth quarter of 2003 and to last year's first
quarter.  Positive pricing trends due to rates trending down during most of the
current quarter led to higher loan sale margins compared to three months ago. 
Although slower loan prepayments led to reduced loan sale gains, it also
resulted in a decrease in amortization of mortgage servicing rights leading to
loan servicing fee income of $241,000 for the quarter.  Slower expected
prepayments also led to a $555,000 recovery of valuation reserves on servicing
rights.

   Deposit Account Service Fees

                                QE 3/31/04     QE 12/31/03    QE 3/31/03
   Service charges (000's)          $7,856          $7,102        $5,439
   Growth rate (year over year)       44.4%           17.9%         12.7%
   Checking accounts               235,600         230,600       157,700




Deposit account service fees advanced considerably compared to the first
quarter of 2003, due to the impact of the St. Francis and Fidelity mergers.
Considerable competition for checking accounts, particularly in the Chicago
markets, along with a tendency for consumers to carry higher average balances
in their checking accounts, has significantly slowed the growth rate of this
revenue source.  In addition, debit card fee income has been negatively
impacted by the 2003 VISA lawsuit settlement that reduced debit card
interchange revenue for all banks.

   Real Estate Development Operations

                                   QE 3/31/04   QE 12/31/03    QE 3/31/03
   RE development income -
    total (000's)                      $1,102        $4,993        $1,635
   RE development income -
    residential (000's)                $1,102        $2,409        $1,635
   RE development income -
    commercial (000's)                      -        $2,584             -
   Residential lot sales                   25            68            55
   Pending lot sales at
    quarter end                            58            15            72
   Investment in real
    estate (000's)                    $32,557       $32,093       $20,451




A total of 21 of the 25 residential lot sales during the quarter were in the
Shenandoah subdivision.  Most of the residential lot sales in the fourth
quarter of 2003, as well as the first quarter of 2003, were also in this 326-
lot development, where 109 lots remain as of March 31, 2004.  The increase in
the investment in real estate compared to a year ago relates primarily to the
land purchases for the new Springbank joint venture development in Plainfield,
Illinois.  Development is expected to begin this year on this project where
1,600 residential lots, 300 multi-family lots and other commercial parcels are
planned.  Lot sales closings are expected to begin in this development in late
2004.

   Securities Sales/Writedowns

                                QE 3/31/04     QE 12/31/03   QE 3/31/03
   Investment securities:
   Net gains on sale/writedowns -
    total (000's)                   $2,834               -      ($5,712)
   Writedowns (only) - (000's)           -               -      ($8,132)
   Net gains on sale (only)
    (000's)                         $2,834               -       $2,420

   Mortgage-backed securities:
   Net gains on sale -
    total (000's)                     $489              $9       $5,352




During the quarter, the Company sold three investment securities on which it
had previously taken other-than-temporary-impairment writedowns in 2002 and
2003 (including $8.1 million in writedowns taken in the first quarter of 2003).
 The net gain from the sale of these three securities was $2.7 million. Two of
these securities were collateralized by leased aircraft and the other security
was a collateralized bond obligation secured by various less than investment
grade high yield securities.  The market values of these securities had for
some time been negatively impacted by weak economic conditions and in the case
of the airline-related securities, the well-documented difficulties in this
industry.  A recovery in the pricing on these securities during the current
quarter led to the Company's decision to sell them.

                           Non-Interest Expense

                               QE 3/31/04     QE 12/31/03    QE 3/31/03
   Total non-interest
    expense (000's)               $46,890         $37,369       $26,675
   Non-interest expense to
    average assets                   2.10%           2.02%         1.80%
   Efficiency ratio (A)             57.82%          50.12%        46.45%

   (A) 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.




Non-interest expenses expanded considerably in the current quarter compared to
the most recent quarter and compared to the first quarter of 2003, the result
of the mergers with St. Francis and Fidelity.  Most of the back office cost
savings from the St. Francis merger have not yet been achieved as the Company
will be running separate data processing systems until May 31 2004, when the
conversion is scheduled.    The Company expects significant improvement in the
non-interest expense to average assets ratio and the efficiency ratio in the
second half of 2004.

All major categories of non-interest expense showed large increases due to
significant growth of the Company during the past year, including expansion
into new markets.  The addition of management personnel and infrastructure
added to accommodate this growth, also contributed to higher expenses.
Compensation and benefits expense totaled $25.6 million in the current period
compared to $22.1 million in the quarter ended December 31, 2003 and $15.6
million in the first quarter of last year.  The increase compared to a year ago
was primarily due to the 2003 mergers, although normal salary increases, higher
payroll taxes, increased medical costs and staffing at five other new branch
offices opened during the past year also contributed to increased compensation
costs.

Office occupancy and equipment costs totaled $6.5 million in the current period
compared to $4.7 million in the fourth quarter of 2003 and $3.5 million a year
ago.  This increase from a year ago is due to the operation of 67 branch
offices, nearly double the 34 offices operated at March 31, 2003, and
consolidation of four loan operations centers into one location that will
result in additional rent expense for most of 2004, but which will improve
efficiencies over the long term.

Income tax expense totaled $12.4 million in the current quarter, an effective
income tax rate of 33.4%, compared to $11.1 million or an effective income tax
rate of 36.5% for the quarter ended March 31, 2003.  The decline in the
effective income tax rate is primarily due to the tax benefits generated from
St. Francis' low income and senior housing projects.

                              Asset Quality

                               QE 3/31/04     QE 12/31/03    QE 3/31/03
   Non-performing loans
    (NPL) (000's)                 $30,259         $32,787       $25,243
   Non-performing assets
    (NPA) (000's)                 $32,480         $43,985       $36,941
   NPL / total loans                  .46%            .51%          .58%
   NPA / total assets                 .36%            .49%          .62%
   Allowance for loan losses
    (ALL) (000's)                 $34,437         $34,555       $19,471
   ALL / total loans                  .53%            .54%          .45%
   ALL / NPL                        115.6%          105.4%         77.1%
   Provision for loan
    losses (000's)                   $300               -             -
   Net charge-offs (000's)           $418            $177           $12




The Company's asset quality remains good.  The sale of two investment
securities during the quarter that had been classified as non-performing,
resulted in a $7.7 million decline in non-performing assets during the current
quarter.  A total of 90% of non-performing loans consisted of loans secured by
one-to four-family residential properties.  The Company recorded a provision
for loan losses of $300,000 in the current quarter as loan balances grew and
net charge-offs of $418,000 were recorded.

                         Balance Sheet & Capital

                               QE 3/31/04     QE 12/31/03    QE 3/31/03
  Assets:
  Total assets (000's)         $9,077,753      $8,933,585    $5,984,930
  Loans receivable (000's)     $6,454,210      $6,369,107    $4,395,574

  Liabilities and Equity:
  Total liabilities (000's)    $8,162,889      $8,031,981    $5,467,912
  Deposits (000's)             $5,618,127      $5,580,455    $3,814,744
  Borrowed funds (000's)       $2,381,838      $2,299,427    $1,501,500
  Stockholders' equity (000's)   $914,864        $901,604      $517,018

  Other:
  1-4 family residential
   loans / total loans               60.5%           61.3%         77.3%
  Core deposits / total deposits     59.9%           58.2%         57.5%
  Book value per share             $27.79          $27.27        $22.18
  Stockholders equity /
   total assets                      10.1%           10.1%          8.6%




The increase in total assets over the past three months totaled $144.2 million
(6.5% annualized) and was due primarily to higher loans receivable and
mortgage-backed securities balances.  With consumers shifting toward
adjustable-rate mortgage loans, the Company expects to see increased growth in
loans receivable balances as these loans are generally held in portfolio. 
Loans receivable increased by $85 million during the quarter, which represented
annualized growth in loan balances of 5.3%, but this does not take into account
$105 million of 15-year loans that were swapped into mortgage-backed securities
that the Company continues to hold in portfolio. The percentage of 1-4 family
residential loans remained steady during the past three months after changing
considerably in the fourth quarter of 2003 as a result of the St. Francis
merger.  Core deposits grew $115.7 million during the quarter due in part to
the successful introduction of a new high-rate checking account product.

During the current quarter, 265,500 shares of common stock were repurchased at
an average cost of $42.93 per share.  Through March 31, 2004, a total of
1,070,500 shares have been repurchased under the Company's 1.6 million
repurchase program at an average price of $39.55 per share.  The Bank's
tangible, core and risk-based capital percentages of 7.12%, 7.12% and 11.31%,
respectively, at March 31, 2004 exceeded all minimum regulatory capital
requirements.

Outlook for 2004

The Company indicated that it currently expects earnings for 2004 to be in the
range of $3.45 to $3.55 per diluted share, or an increase of 6-9% over 2003. 
The Company's projections for 2004 assume balance sheet growth in the 9-11%
range with more growth coming in lower yielding adjustable-rate mortgage loans
and equity lines of credit than previously expected.  In addition, the Company
expects less deposit growth than previously expected.  This will result in more
of the earning asset growth being funded with higher cost wholesale borrowings.
 Mortgage loan originations are expected to be significantly lower during the
year because of reduced refinancing activity. Due to the market shifting toward
adjustable rate loans, the Company expects lower loan sale volumes and reduced
margins compared to 2003.  Assuming modest Federal Reserve tightening in the
second half of 2004 and in light of expected changes in loan and funding mix,
management expects the net interest margin to be in a range of 3.00%-3.10%. 
The Company is experiencing slower growth in deposit account service fee
revenues than previously expected and is currently estimating income from real
estate operations in the range of $9.0-$10.5 million for 2004, with the income
heavily weighted in the second half of the year.  The projections also assume a
strong housing purchase market, continued good credit quality, completion of
the Company's previously authorized stock buyback program, and successful
conversion and integration of St. Francis' systems in late May 2004.  The
majority of expected cost savings related to the St. Francis merger will not
begin to be realized until the second half of 2004.  Based on these timing
expectations and projection of loan originations, loan sales and income from
real estate development, management expects that earnings will be stronger in
the second half of 2004.  Due to the timing of the St. Francis data processing
conversion, and expenses relating to management personnel and infrastructure
added to accommodate the Company's growth, it is expected that the Company's
efficiency ratio will be near 51% for 2004 before trending back down in 2005.

MAF Bancorp is the parent company of Mid America Bank, a federally chartered
stock savings bank.  The Bank currently operates a network of 67 retail banking
offices throughout Chicago and Milwaukee and their surrounding areas.  Offices
in the Milwaukee area 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, higher than expected costs
related to the St. Francis transaction, delays in the St. Francis data
processing and systems conversions, difficulties implementing the Company's
business model in the Milwaukee area markets, unanticipated changes in interest
rates or flattening of the yield curve, deteriorating economic conditions which
could result in increased delinquencies in MAF's loan portfolio, higher than
expected overhead, infrastructure and compliance costs needed to support growth
in the Company's operations, legislative or regulatory developments, monetary
and fiscal policies of the U.S. Government, including policies of the U.S.
Treasury and the Federal Reserve Board, the quality or composition of MAF's
loan or investment portfolios, demand for loan products, secondary mortgage
market conditions, deposit flows, competition, demand for financial services
and residential real estate in MAF's market area, unanticipated slowdowns in
real estate lot sales or problems in closing pending real estate contracts,
delays in real estate development projects, 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.

                    MAF BANCORP, INC. AND SUBSIDIARIES
                         STATEMENTS OF OPERATIONS
              (Dollars in thousands, except per share data)

                                                     Three Months Ended
                                                          March 31,
                                                     2004           2003
                                                         (Unaudited)

  Interest income                                 $102,007         77,026
  Interest expense                                  37,978         35,971
    Net interest income                             64,029         41,055
  Provision for loan losses                            300              -
    Net interest income after provision for
     loan losses                                    63,729         41,055
  Non-interest income:
    Gain (loss) on sale and writedown of:
      Loans receivable held for sale                 1,780          7,548
      Mortgage-backed securities                       489          5,352
      Investment securities                          2,834         (5,712)
      Foreclosed real estate                           146            (69)
    Income from real estate operations               1,102          1,635
    Deposit account service charges                  7,856          5,439
    Loan servicing fee income (expense)                241         (1,376)
    Valuation recovery on mortgage servicing rights    555              -
    Brokerage commissions                            1,096            731
    Other                                            4,296          2,467
      Total non-interest income                     20,395         16,015
  Non-interest expense:
    Compensation and benefits                       25,634         15,638
    Office occupancy and equipment                   6,503          3,531
    Advertising and promotion                        2,407          1,321
    Data processing                                  2,118            973
    Other                                            9,488          4,833
    Amortization of core deposit intangibles           740            379
    Total non-interest expense                      46,890         26,675
     Income before income taxes                     37,234         30,395
  Income taxes                                      12,440         11,107
     Net income                                    $24,794         19,288

  Basic earnings per share                            $.75            .83
  Diluted earnings per share                           .73            .81


                    MAF BANCORP, INC. AND SUBSIDIARIES
              CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
                          (Dollars in thousands)

                                                (Unaudited)
                                                  March 31,    December 31,
                                                    2004           2003
  Assets
  Cash and due from banks                         $134,608        144,290
  Interest-bearing deposits                         58,353         57,988
  Federal funds sold                                15,502         19,684
    Total cash and cash equivalents                208,463        221,962

  Investment securities available for sale,
   at fair value                                   362,694        365,334
  Stock in Federal Home Loan Bank of Chicago,
   at cost                                         390,893        384,643
  Mortgage-backed securities available for sale,
   at fair value                                   940,003        971,969
  Mortgage-backed securities held to maturity
   (fair value $105,856)                           105,139              -
  Loans receivable held for sale                    36,696         44,511
  Loans receivable, net of allowance for losses
   of $34,437 and $34,555                        6,417,514      6,324,596
  Accrued interest receivable                       31,354         31,168
  Foreclosed real estate                             1,920          3,200
  Real estate held for development or sale          32,557         32,093
  Premises and equipment, net                      129,895        122,817
  Other assets                                     121,279        130,615
  Goodwill                                         262,217        262,488
  Intangibles                                       37,129         38,189
                                                $9,077,753      8,933,585

  Liabilities and Stockholders' Equity

  Liabilities:
    Deposits                                     5,618,127      5,580,455
    Borrowed funds                               2,381,838      2,299,427
    Advances by borrowers for taxes
     and insurance                                  44,404         41,149
    Accrued expenses and other liabilities         118,520        110,950
      Total liabilities                          8,162,889      8,031,981
  Stockholders' equity:
    Preferred stock, $.01 par value; authorized
     5,000,000 shares; none outstanding                  -              -
    Common stock, $.01 par value;
     80,000,000 shares authorized; 33,121,465
     shares issued; 32,915,327 and 33,063,853
     shares outstanding                                331            331
    Additional paid-in capital                     497,375        495,747
    Retained earnings, substantially restricted    418,435        402,402
    Accumulated other comprehensive income,
     net of tax                                      6,510          2,109
    Stock in Gain Deferral Plan; 241,900 and
     240,879 shares                                  1,059          1,015
    Treasury stock, at cost; 206,138 at
     March 31, 2004                                 (8,846)             -
       Total stockholders' equity                  914,864        901,604
                                                $9,077,753      8,933,585


                    MAF BANCORP, INC. AND SUBSIDIARIES
                         SELECTED FINANCIAL DATA
                    (In thousands, except share data)
                               (Unaudited)

                                  March 31,     December 31,    March 31,
                                    2004            2003          2003

  Book value per share             $27.79          $27.27        $22.18
  Stockholders' equity to
   total assets                     10.06%          10.09%         8.64%
  Tangible capital ratio
   (Bank only)                       7.12            7.16          6.87
  Core capital ratio (Bank only)     7.12            7.16          6.87
  Risk-based capital ratio
   (Bank only)                      11.31           11.45         12.13
  Common shares outstanding:
    Actual                     32,915,327      33,063,853    23,310,396
    Basic (weighted average)   33,063,842      27,951,055    23,300,671
    Diluted (weighted average) 33,931,769      28,836,235    23,852,184

  Non-performing loans            $30,259         $32,787       $25,243
  Non-performing assets            32,480          43,985        36,941
  Allowance for loan losses        34,437          34,555        19,471
  Non-performing loans to
   total loans                        .46%            .51%          .58%
  Non-performing assets to
   total assets                       .36             .49           .62
  Allowance for loan losses to
   total loans                        .53             .54           .45
  Mortgage loans serviced for
   others                      $3,368,439      $3,330,039    $2,261,784
  Capitalized mortgage
   servicing rights, net           23,808          24,128        14,881
  Core deposit intangibles         13,321          14,061         6,875



                                                      Three Months Ended
                                                           March 31,
                                                      2004          2003
  Average balance data:
    Total assets                                  $8,941,881     $5,925,958
    Loans receivable                               6,457,794      4,504,911
    Interest-earning assets                        8,264,886      5,586,324
    Deposits                                       5,154,067      3,473,363
    Interest-bearing liabilities                   7,472,967      4,997,307
    Stockholders' equity                             915,680        511,077
  Performance ratios (annualized):
    Return on average assets                            1.11%          1.30%
    Return on average equity                           10.83          15.10
    Average yield on interest-earning assets            4.94           5.52
    Average cost of interest-bearing liabilities        2.04           2.92
    Interest rate spread                                2.90           2.60
    Net interest margin                                 3.10           2.94
    Average interest-earning assets to average
     interest-bearing liabilities                     110.60%        111.79%
    Non-interest expense to average assets              2.10           1.80
    Non-interest expense to average assets
     and loans serviced for others                      1.60           1.33
    Efficiency ratio (A)                               57.82          46.45

  Loan originations                                 $900,883     $1,055,901
  Loans sold                                         129,494        477,618
  Cash dividends declared per share                      .21            .18

  (A) 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.


DATASOURCE: MAF Bancorp, Inc.



CONTACT:  Jerry A. Weberling, Chief Financial Officer, or Michael J.

Janssen, Senior Vice President, both of MAF Bancorp, Inc., [phone]



Web site:  http://www.mafbancorp.com/ 

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