On November 7, 2009, Pierce T. Neese resigned from Bank of Florida Corporation's Board of Directors, as well as its executive committee, audit committee and Bank Secrecy Act/AML and compliance committee. Mr. Neese commenced service on the Company's Board of Directors in April 2007, following the company's acquisition of Old Florida Bankshares Inc. Mr. Neese also served as the Chairman and Chief Executive Officer of United Security Bank, Sparta, Georgia from 1974 until it was placed into receivership with the Federal Deposit Insurance Corporation after the close of business on November 6, 2009.

Bank of Florida Corporation reported unaudited consolidated earnings results for the third quarter ended September 30, 2009. The company reported a net loss to common shareholders of $78.1 million, or $6.10 per diluted common share, in the third quarter of 2009 against net loss of $3.4 million, or $0.27 per diluted common share, in the third quarter of 2008. The net loss to common shareholders reflects a goodwill impairment charge of $62.0 million to write off all of the company's goodwill. This charge was $0.27 a one-time, non-cash accounting transaction that will not affect the company's cash flows, liquidity, or tangible capital ratios, and was primarily due to the current state of the financial markets as well as the current market price of the Company's common stock. Excluding the impact of the goodwill impairment charge, the net loss for the third quarter of 2009 was $16.1 million, or $1.26 per diluted share. This compares to a net loss of $6.5 million, or $0.51 per diluted share, in the second quarter of 2009. Also affecting third quarter results was a $25.7 million provision for loan losses, $13.0 million of which was added to the allowance for loan losses and $12.7 million of which was attributed to net charge-offs. Total interest income was $17.9 million against $20.9 million for the same period last year. Net interest income was $9.5 million against $10.9 million for the same period last year. Net interest loss after provision for loan losses was $16.2 million against net interest income after provision for loan losses of $4.7 million for the same period last year. Loss before taxes was $87.6 million against $5.5 million for the same period last year. Return on average assets was negative of 20.63% against negative of 0.95% for the same period last year. Return on average common equity was negative of 180.22% against negative of 6.96% for the same period last year. Book value per common share was $7.68 as on September 30, 2009 against $15.39 as on September 30, 2008. Third quarter results were most significantly affected by the $62.0 million goodwill impairment charge and the $25.7 million provision for loan losses. The 'core' earnings, which is a non-GAAP measure that excludes taxes and credit-related expenses as well as the goodwill impairment charge, increased to $2.0 million compared to $1.0 million during the second quarter. The company reported $62.0 million goodwill impairment charge to write off all of the company's goodwill.

Bank of Florida Corporation expected to Report Fiscal Year 2009 Results on February 8, 2010. This event was calculated by Capital IQ (Created on November 2, 2009).