Written agreement with Sun American Bancorp and Sun American Bank

The following press release was published by the Board of Governors of the Federal Reserve System on Feb. 3, 2009. It is reproduced in full below.

The Federal Reserve Board on Tuesday announced the execution of a Written Agreement by and among Sun American Bancorp, a registered bank holding company, Sun American Bank, a state chartered member bank, both of Boca Raton, Florida, the Federal Reserve Bank of Atlanta, and the Florida Office of Financial Regulation.

A copy of the Written Agreement is attached.

Source: Board of Governors of the Federal Reserve System