Press Release

FOR IMMEDIATE
RELEASE: 01/21/09

GULFSTREAM BANCSHARES, INC. ANNOUNCES FOURTH QUARTER EARNINGS OF $1,442,000 AND TOTAL ASSETS OF $572,410,000

Gulfstream Bancshares, Inc., a Stuart based business bank, today announced earnings for the fourth quarter 2008 of $1,442,000 and total assets of $572,410,000. Gulfstream ended the fourth quarter with over $572 million in assets, $451 million in deposits and $450 million in loans out- standing.

Quarterly net income of $1.442M is up 15% from the prior quarter, year over year it represents a 31% increase. 2008 year end earnings of $5.2M are up 3.4% from the prior year’s mark. Loans outstanding have increased by 8% and deposits have grown by 7%. Vice-Chairman and CEO, John E. Tranter stated, “We are very pleased with our deposit and loan growth and our year over year income results, especially in light of the overall market conditions.”

Gulfstream Business Bank, founded in 1999, is a $580 million dollar locally owned and managed niche community bank. The bank specializes in Business, Association and Professional Banking, including commercial credit and specialty deposit products, residential lending, a full line of retail and corporate cash management products and private banking investment services. For more information, call (772) 426-8100 in Martin County, (772) 408-5940 in St. Lucie County, (561) 354-4200 in North Palm Beach County or (561) 665-4200 in South Palm Beach County, or visit the bank's website at www.gsbb.com.