Item 8.01. Other Events
1) On August 28, 2009, Dearborn Bancorp, Inc. ("Dearborn") elected to defer regularly scheduled quarterly interest payments on Dearborn's junior subordinated debentures ("Debentures"). The Debentures are owned by Dearborn through Dearborn Trust 1 (the "Trust") and were funded by the Trust's issuance in 2002 of $10,000,000 in trust preferred securities ("Debt Securities"), which have a term of thirty years. The total estimated annual interest that would be payable on the Debentures and the underlying Debt Securities, if not deferred, is approximately $400,000.

The terms of the Debentures and the trust indenture (the "Indenture") allow for Dearborn to defer payment of interest on the Debt Securities at any time or from time to time for up to 20 consecutive quarters provided no event of default (as defined in the Indenture) has occurred and is continuing. Dearborn is not in default with respect to the Indenture, and the deferral of interest does not constitute an event of default under the Indenture. While Dearborn defers the payment of interest, it will continue to accrue the interest expense owed at the applicable interest rate. The interest rate of the Debt Securities is the three-month LIBOR plus 3.35%. At the expiration of the deferral period, all accrued and unpaid interest is due and payable. During the deferral period, Dearborn may not declare or pay any dividends or distributions on, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock.

---