TIB Financial Corp.(Nasdaq: TIBB), a leading community banking company serving the greaterNaples-Fort Myers area, South Miami-Dade County and the Florida Keys, todayreported record third quarter net income of $2.05 million, an increase of 54%compared with the $1.34 million reported for the same period a year ago. On aper diluted share basis, earnings were $0.35 for the third quarter of 2005, anincrease of 52% compared with the $0.23 reported for the third quarter of2004. For the first nine months of 2005, net income was $5.79 million, anincrease of 50% over $3.87 million for the same period a year ago. On a perdiluted share basis, earnings were $0.98 for the first nine months of 2005, up36% over $0.72 for the same period a year ago. TIB Financial also reported total assets of $1.05 billion as of September30, 2005 representing a 27% increase from $829.3 million as of December 31,2004 and a 38% increase over $765.7 million reported as of September 30, 2004. "The entire TIB team is delighted to again, for the third consecutivequarter, see the results of a successful implementation of our strategic plan.Impressive asset and earnings growth rates are indicators of the value thathas been created by investments made over the past few years," said Edward V.Lett, Chief Executive Officer and President of TIB Financial Corp. "Theexecution risk of our geographic expansion has been minimized with ourexperienced and trusted management team focusing only on their corecompetencies. Our strategic objective of quality asset production, supportedby organically generated in-market core deposits, is being achieved at a morerapid pace than originally projected." "Our markets display diversity, economic strength and are among thenation's fastest growing. Additionally, merger-related market disruptioncontinues to provide opportunities in gathering commercial, household andmunicipal relationships. As TIB continues to gain name recognition andmomentum in our new markets, it would not be unreasonable to achieve theposition of a dominant community banking force in the near term. The marketcreates the opportunity; the team, its history and the current positioningcreate the compelling story." The increase in net income for the third quarter of 2005 over the sameperiod a year ago resulted primarily from a 30% rise in net interest incomefrom $7.78 million a year ago to $10.09 million in the current quarter. Thetax equivalent net interest margin of 4.37% for the three months endedSeptember 30, 2005 contracted slightly from the 4.40% reported during both thefirst and second quarters and from the 4.51% reported during the third quarterof 2004. Non-interest income, which includes real estate fees, credit card fees andother operating income, totaled $2.82 million for the third quarter of 2005,representing a 7% increase from $2.64 million for the third quarter of 2004.The increase in non-interest income was primarily attributable to increasedfees on residential mortgage loans sold during the quarter. Non-interest expense for the third quarter of 2005 was $9.28 million,compared with $7.92 million for the third quarter of 2004. The increase innon-interest expense is primarily attributable to a 25% increase in employeesalaries and benefits related to the Company's growth and expansion in thesouthwest Florida market. Net occupancy and other expenses for the secondquarter of 2005 increased less than 11% over the third quarter of 2004,reflecting the Company's continued focus on cost containment. Credit quality remained solid during the third quarter of 2005. As ofSeptember 30, 2005, the allowance for loan losses totaled $7.15 million, or0.87% of total loans and 1345% of non-performing loans. These figures comparewith 0.98% and 519%, respectively, as of September 30, 2004. Annualized netcharge-offs represented 0.15% of average loans for the quarter ended September30, 2005 and 0.12% for the quarter ended September 30, 2004. Total loans increased 34% to $826.3 million as of September 30, 2005,compared with $618.3 million as of September 30, 2004. Total depositsincreased more than 43% to $913.3 million as of September 30, 2005, comparedwith $638.3 million as of September 30, 2004. For the quarter ended September 30, 2005, average fully diluted commonshares outstanding were 5,914,540, compared with 5,806,733 a year ago. Bookvalue per common share as of September 30, 2005 was $12.50 per share. Tangiblebook value per common share as of September 30, 2005 was $12.27 per share.Total shareholders' equity as of September 30, 2005 was $72.0 million. During the third quarter of 2005, the Board of Directors of TIB FinancialCorp. declared a quarterly cash dividend of $0.115 per share on its commonstock. The cash dividend was paid on October 10, 2005 to all TIB FinancialCorp. common shareholders of record as of September 30, 2005. This dividend,when annualized, represents $0.46 per share. About TIB Financial Corp. Headquartered in Naples, Florida, TIB Financial Corp. is a growth-orientedfinancial services company with more than $1 billion in total assets and 16full-service banking offices throughout the Florida Keys, Homestead, Naples,Bonita Springs and Fort Myers. The Company's stock is traded on The NasdaqStock Market under the symbol TIBB. TIB Financial Corp., through its wholly owned subsidiary TIB Bank, servesthe personal and commercial banking needs of local residents and businesses intheir market areas. The Bank's experienced bankers are local community leaderswho focus on a relationship-based approach built around anticipating specificcustomer needs, providing sound advice and making timely decisions. To learnmore about TIB Bank, visit http://www.tibbank.com . Copies of recent news releases, SEC filings, price quotes, stock chartsand other valuable information may be found on TIB's investor relations siteat http://www.tibfinancialcorp.com . For more information, contact Edward V.Lett, Chief Executive Officer and President, or David P. Johnson, ExecutiveVice President and Chief Financial Officer, at (239)263-3344. Except for historical information contained herein, the statements made inthis press release constitute "forward-looking" statements within the meaningof Section 27A of the Securities Act of 1933 and Section 21E of the SecuritiesExchange Act of 1934. Such statements involve certain risks and uncertainties,including statements regarding the Company's strategic direction, prospectsand future results. Certain factors, including those outside the Company'scontrol, may cause actual results to differ materially from those in theforward-looking statements, including economic and other conditions in themarkets in which the Company operates; risks associated with acquisitions,competition, seasonality and the other risks discussed in our filings with theSecurities and Exchange Commission, which discussions are incorporated in thispress release by reference. SUPPLEMENTAL FINANCIAL DATA IS ATTACHED TIB Financial Corp. and Subsidiaries Unaudited Consolidated Statements of Income For the Quarter Ended (in thousands, except September June March December September per share data) 30, 2005 30, 2005 31, 2005 31, 2004 30, 2004 Interest and dividend income $15,503 $14,225 $12,346 $11,351 $10,528 Interest expense 5,409 4,589 3,732 3,135 2,747 Net interest income 10,094 9,636 8,614 8,216 7,781 Provision for loan losses 448 730 586 966 471 Non-interest income: Service charges on deposit accounts 601 567 608 646 619 Investment securities gains, net 1 -- -- 3 7 Merchant bankcard processing income 1,261 1,762 1,896 1,242 1,221 Fees on mortgage loans sold 461 582 492 446 363 Other income 491 668 398 479 433 Total non-interest income 2,815 3,579 3,394 2,816 2,643 Non-interest expense: Salaries & employee benefits 4,608 4,410 4,212 3,931 3,699 Net occupancy expense 1,386 1,349 1,276 1,439 1,212 Other expense 3,289 3,311 3,565 2,683 3,013 Total non-interest expense 9,283 9,070 9,053 8,053 7,924 Income before income tax expense 3,178 3,415 2,369 2,013 2,029 Income tax expense 1,124 1,231 822 682 692 NET INCOME $2,054 $2,184 $1,547 $1,331 $1,337 BASIC EARNINGS PER SHARE: $0.36 $0.38 $0.27 $0.23 $0.24 DILUTED EARNINGS PER SHARE: $0.35 $0.37 $0.26 $0.23 $0.23 Selected Financial Data (Dollars in thousands) Selected Ratios and As Of or For the Quarter Ended Statistics September June March December September 30, 2005 30, 2005 31, 2005 31, 2004 30, 2004 Real estate mortgage loans: Commercial $428,314 $411,504 $393,362 $351,346 $338,198 Residential 73,474 75,540 70,490 67,204 64,624 Farmland 3,991 4,550 4,825 4,971 4,924 Construction and vacant land 106,015 85,134 67,552 49,815 41,510 Commercial and agricultural loans 74,202 62,864 57,647 64,622 62,851 Indirect auto dealer loans 113,639 108,178 98,633 91,890 83,680 Home equity loans 17,220 16,056 14,637 13,856 12,259 Other consumer loans 9,428 10,022 10,075 9,817 10,248 Total loans $826,283 $773,848 $717,221 $653,521 $618,294 Gross loans $828,081 $775,759 $719,285 $655,678 $620,333 Net loan charge-offs $308 $258 $288 $812 $188 Allowance for loan losses $7,153 $7,013 $6,541 $6,243 $6,089 Allowance for loan losses/total loans 0.87% 0.91% 0.91% 0.96% 0.98% Non-performing loans $532 $482 $391 $704 $1,174 Allowance for loan losses/non- performing loans 1,344.55% 1,454.98% 1,672.89% 886.79% 518.65% Non performing loans/gross loans 0.06% 0.06% 0.05% 0.11% 0.19% Interest bearing deposits: NOW accounts $88,570 $85,479 $89,055 $92,402 $83,835 Money market 164,007 179,815 169,391 146,009 127,376 Savings deposits 47,638 49,884 48,783 46,231 47,247 Time deposits 446,309 341,703 307,040 251,182 245,953 Non-interest bearing deposits 166,821 213,328 185,012 152,035 133,888 Total deposits $913,345 $870,209 $799,281 $687,859 $638,299 Net interest margin 4.37% 4.40% 4.40% 4.64% 4.51% Return on average assets 0.82% 0.91% 0.72% 0.67% 0.70% Return on average equity 11.45% 12.62% 9.20% 7.83% 8.06% Non-interest expense/tax equivalent net interest income and non-interest income 71.47% 68.23% 74.89% 72.47% 75.60% Average diluted shares 5,914,540 5,885,595 5,866,099 5,845,224 5,806,733 End of quarter shares outstanding 5,761,746 5,712,264 5,706,939 5,679,239 5,672,202 Total equity $72,011 $70,740 $68,279 $68,114 $67,527 Total assets $1,053,894 $1,012,885 $939,326 $829,325 $765,686 Quarterly average balances and yields (Dollars in thousands) Quarter Ended Quarter Ended September 30, 2005 September 30, 2004 Average Average Balances Interest* Yield* Balances Interest* Yield* Loans $795,970 $14,222 7.09% $605,271 $9,650 6.34% Investments 87,109 1,006 4.58% 80,030 922 4.58% Interest bearing deposits 246 2 3.23% 1,014 4 1.57% Federal Home Loan Bank stock 2,779 23 3.28% 1,301 16 4.89% Fed funds sold 38,314 330 3.42% 6,903 23 1.33% Total interest earning assets 924,418 15,583 6.69% 694,519 10,615 6.08% Non-interest earning assets 70,746 61,910 Total assets $995,164 $756,429 Interest bearing liabilities: NOW $86,175 $176 0.81% $77,021 $94 0.49% Money market 168,099 1,038 2.45% 131,896 299 0.90% Savings 48,364 63 0.52% 45,475 45 0.39% Time 376,766 3,397 3.58% 236,806 1,793 3.01% Total interest- bearing deposits 679,404 4,674 2.73% 491,198 2,231 1.81% Short-term borrowings and FHLB advances 38,226 336 3.49% 29,687 114 1.53% Long-term borrowings 17,000 399 9.31% 18,250 402 8.76% Total interest bearing liabilities 734,630 5,409 2.92% 539,135 2,747 2.03% Non-interest bearing deposits 175,674 141,864 Other liabilities 13,697 9,220 Shareholders' equity 71,163 66,210 Total liabilities and shareholders' equity $995,164 $756,429 Net interest income and spread $10,174 3.77% $7,868 4.05% Net interest margin 4.37% 4.51% * Presented on a fully tax equivalent basis. Year to date average balances and yields (Dollars in thousands) Nine Months Ended Nine Months Ended September 30, 2005 September 30, 2004 Average Average Balances Interest* Yield* Balances Interest* Yield* Loans $743,018 $38,468 6.92% $574,003 $27,212 6.33% Investments 83,021 2,829 4.56% 69,567 2,452 4.71% Interest bearing deposits 390 8 2.68% 970 9 1.18% Federal Home Loan Bank stock 2,706 81 4.00% 1,445 40 3.70% Fed funds sold 41,906 928 2.96% 13,635 102 1.00% Total interest earning assets 871,041 42,314 6.49% 659,620 29,815 6.04% Non-interest earning assets 72,826 63,070 Total assets $943,867 $722,690 Interest bearing liabilities: NOW $90,598 $561 0.83% $75,193 $214 0.38% Money market 167,428 2,597 2.07% 128,056 793 0.83% Savings 48,175 178 0.49% 43,738 127 0.39% Time 328,179 8,334 3.39% 221,498 4,969 3.00% Total interest- bearing deposits 634,380 11,670 2.46% 468,485 6,103 1.74% Short-term borrowings and FHLB advances 39,688 887 2.98% 31,258 299 1.28% Long-term borrowings 17,069 1,173 9.19% 18,250 1,193 8.73% Total interest bearing liabilities 691,137 13,730 2.66% 517,993 7,595 1.96% Non-interest bearing deposits 171,108 139,733 Other liabilities 12,019 8,586 Shareholders' equity 69,603 56,378 Total liabilities and shareholders' equity $943,867 $722,690 Net interest income and spread $28,584 3.83% $22,220 4.08% Net interest margin 4.39% 4.50% * Presented on a fully tax equivalent basis.

Source: PR Newswire