
                                                                       EXHIBIT 5

                                                         May 1, 2000


Admiralty Bancorp, Inc.
4400 PGA Boulevard
Suite 200
Palm Beach Gardens, FL 33410

        Re:      Admiralty Bancorp, Inc.
                 Registration Statement on Form S-8

Dear Sirs:

         We have acted as counsel for Admiralty Bancorp, Inc., a Delaware
corporation (the "Company"), in connection with the Registration Statement on
Form S-8 being filed by the Company with the Securities and Exchange Commission
pursuant to the Securities Act of 1933, as amended, relating to an aggregate of
372,613 shares of Class B Common Stock, no par value per share, of the Company
to be issued by the Company pursuant to the 1998 Stock Option Plan.

         In so acting, we have examined, and relied as to matters of fact upon,
the originals, or copies certified or otherwise identified to our satisfaction,
of the Certificate of Incorporation and Bylaws of the Company, the Plans, and
such other certificates, records instruments and documents, and have made such
other and further investigations, as we have deemed necessary or appropriate to
enable us to express the opinion set forth below. In such examination, we have
assumed the genuineness of all signatures, the legal capacity of natural
persons, the authenticity of all documents submitted to us as originals, the
conformity to original documents of all documents submitted to us as certified
or photostatic copies, and the authenticity of the originals of such latter
documents.

         Based upon the foregoing, we are of the opinion that upon issuance and
delivery by the Company of the Shares pursuant to the terms of the Plans, the
Shares issued thereunder will be legally issued, fully paid and non-assessable

         The issuance of the Shares is subject to the continuing effectiveness
of the Registration Statement and the qualification, or exemption from
registration, of such Shares under certain state securities laws.

         We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement. In giving the foregoing consent, we do not admit that we
are in the category of

<PAGE>

persons whose consent is required under Section 7 of the Securities Act of 1933,
as amended, or the rules and regulations of the Securities and Exchange
Commission promulgated thereunder.

                                           Very truly yours,

                                           /s/ Jamieson, Moore, Peskin & Spicer

                                           JAMIESON, MOORE, PESKIN & SPICER

