Baylake Bank. Helping Build the Good Life.

BAYLAKE CORP. DECLARES DIVIDEND

Sturgeon Bay, Wisconsin –(PR Newswire) – December 7, 2006

Baylake Corp. (OTC BB: BYLK) announced that its Board of Directors on October 24, 2006 declared a quarterly dividend of $0.16 per share on the Company’s common stock. This is the 109th consecutive quarterly dividend paid by Baylake Corp. The dividend is payable on January 2, 2007 to shareholders of record on December 15, 2006.

Baylake Corp., the holding company for Baylake Bank, serves Northeast and Central Wisconsin from 28 community financial centers throughout Brown, Door, Green Lake, Kewaunee, Manitowoc, Outagamie, Waupaca and Waushara Counties.

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