DEARBORN, Mich., Oct. 19, 2010 (GLOBE NEWSWIRE) -- Dearborn Bancorp, Inc. (Nasdaq:DEAR), the Holding Company for Fidelity Bank ("Bank"), today reported a net income of $631,000 or $0.08 per fully diluted common share for the three months ended September 30, 2010 compared to a net loss of $40,045,000 or $(5.24) per share for the three months ended September 30, 2009. For the nine months ended September 30, 2010, the Company's net loss was $11,870,000 or $(1.55) compared to a net loss of $55,369,000 or $(7.24) for the same period in 2009. The Company's Shareholders' Equity of $30,154,000 equates to a book value of $3.92 per share compared to the market closing price of $1.79 on September 30, 2010. In accordance with regulatory capital guidelines, the Bank remains "undercapitalized" at September 30, 2010.

At the end of September, the Company's total assets were $916,731,000 representing a decline of 12.1 percent over the preceding 12 months as a result of a strategic contraction of the balance sheet to conserve capital. Total deposits decreased 10.6 percent over the previous year and stood at $809,418,000 when the third quarter ended. Total loans were $760,683,000 on September 30, 2010, 11.8 percent less than they had been on the same date in 2009. Strong emphasis is being placed on collection of the existing loan portfolio and the sale of other real estate owned.

Michael J. Ross, President and Chief Executive Officer of both the Company and the Bank, announced the financial results and commented, "During the third quarter, net charge-offs were $2,243,000 which included gross recoveries of $661,000. The allowance for loan losses now stands at 3.92% of total loans at the end of the quarter. Write-downs of other real estate owned were $960,000, reflecting the pending sale of two spec commercial office buildings. Total non-performing assets were $137,043,000 at September 30, 2010 remaining flat compared to the first and second quarter of 2010."

Ross concluded, "The core operations of the Company continue to produce income to offset the high cost of FDIC insurance and the holding costs of other real estate owned. The level of future unknown charge-offs remains the determining factor as to whether the Company can be profitable in future quarters. Thus, our primary concerns for 2010 and 2011 are the Michigan economy, credit quality, and the stability or improvement of the underlying collateral values in our loan portfolio."

Dearborn Bancorp, Inc. is a registered bank holding company. Its sole banking subsidiary is Fidelity Bank. The Bank operates 17 offices in Wayne, Oakland, Macomb and Washtenaw Counties in the State of Michigan. Its common shares trade on the Nasdaq Global Market under the symbol DEAR.

Forward-Looking Statements

This press release contains forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that are based on current expectations. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "is likely," "plans," "projects," variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions ("Future Factors") that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. Actual results and outcomes may materially differ from what is expressed in forward-looking statements. Dearborn Bancorp undertakes no obligation to update, amend or clarify forward-looking statements, whether as a result of new information, future events (whether anticipated or unanticipated), or otherwise.

Future Factors include changes in interest rates and interest rate relationships; demand for products and services; the degree of competition by traditional and non-traditional competitors; changes in banking regulation; changes in tax laws; changes in prices, levies and assessments; the impact of technological advances; governmental and regulatory policy changes; the outcomes of contingencies, trends in customer behavior as well as their ability to repay loans; actions by bank regulators; availability of capital; changes in local real estate values; changes in the national and local economy; and other factors, including risk factors disclosed from time to time in filings made by Dearborn Bancorp with the Securities and Exchange Commission. These are representative of the Future Factors and could cause a difference between an ultimate actual outcome and a preceding forward-looking statement.
DEARBORN BANCORP, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
       
(Dollars, in thousands)      
  9/30/2010 12/31/2009 9/30/2009
ASSETS      
Cash and cash equivalents      
 Cash and due from banks $7,136 $7,803 $17,330
 Federal funds sold 56 156 6,206
 Interest bearing deposits with banks 70,216 69,538 117,732
 Total cash and cash equivalents 77,408 77,497 141,268
       
Mortgage loans held for sale  572 1,129 1,449
Securities available for sale  46,372 45,964 13,547
Securities held to maturity 250 336 363
Federal Home Loan Bank stock 3,698 3,698 3,698
Loans       
 Loans 760,683 833,136 862,664
 Allowance for loan losses (29,831) (35,125) (28,373)
 Net loans 730,852 798,011 834,291
       
Premises and equipment, net 19,415 20,194 20,477
Real estate owned 25,043 23,435 15,472
Accrued interest receivable 3,301 3,562 3,619
Other assets 9,820 12,660 8,153
       
 Total assets $916,731 $986,486 $1,042,337
       
LIABILITIES      
Deposits      
 Non-interest bearing deposits $87,205 $83,873 $89,329
 Interest bearing deposits 722,213 784,082 815,625
 Total deposits 809,418 867,955 904,954
       
Other liabilities      
 Securities sold under agreements to repurchase --- --- 2,302
 Federal Home Loan Bank advances 63,716 63,855 73,855
 Accrued interest payable 972 1,046 956
 Other liabilities 2,471 1,685 2,380
 Subordinated debentures 10,000 10,000 10,000
 Total liabilities 886,577 944,541 994,447
       
STOCKHOLDERS' EQUITY      
 Common stock - no par value 100,000,000 shares       
 authorized, 7,685,705 at 9/30/10, 7,687,470      
 shares at 12/31/09 and 7,687,470 shares at 9/30/09 132,022 131,929 131,898
 Retained earnings (accumulated deficit) (101,719) (89,850) (84,043)
 Accumulated other comprehensive income (loss) (149) (134) 35
 Total stockholders' equity 30,154 41,945 47,890
       
 Total liabilities and stockholders' equity $916,731 $986,486 $1,042,337
 
DEARBORN BANCORP, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited)
         
(In thousands, except share data) Three Months Ended Nine Months Ended
  9/30/2010 9/30/2009 9/30/2010 9/30/2009
Interest income        
 Interest on loans $11,328 $13,135 $34,642 $40,231
 Interest on securities, available for sale 276 33 601 467
 Interest on deposits with banks 115 76 216 273
 Interest on federal funds  ---  2 1 14
 Total interest income 11,719 13,246 35,460 40,985
         
Interest expense        
 Interest on deposits 2,578 4,806 9,046 16,262
 Interest on other liabilities 391 614 1,153 1,843
 Total interest expense 2,969 5,420 10,199 18,105
         
 Net interest income 8,750 7,826 25,261 22,880
Provision for loan losses 500 14,185 12,403 38,522
         
Net interest income (loss) after provision for loan losses 8,250 (6,359) 12,858 (15,642)
         
Non-interest income        
 Service charges on deposit accounts 366 388 1,089 1,118
 Fees for other services to customers 35 33 120 95
 Gain on the sale of loans 54 37 178 253
 Gain on the sale of securities 470 ---  539 465
 Other than temporary impairment of securities ---  (387) ---  (387)
 Gain (loss) on the sale of real estate owned (38) (154) (6) (157)
 Loss on the write-down of real estate owned (960) (639) (5,309) (2,499)
 Write-down of other assets ---  ---  ---  (100)
 Other income 91 122 271 369
 Total non-interest income 18 (600) (3,118) (843)
         
Non-interest expense        
 Salaries and employee benefits 3,050 3,159 9,247 9,657
 Occupancy and equipment expense 857 903 2,488 2,753
 Amortization of intangible expense ---  4,195 ---  4,592
 FDIC assessment 1,075 672 3,150 1,853
 Advertising and marketing 42 48 102 177
 Stationery and supplies 82 120 229 340
 Professional services 490 234 962 598
 Data processing 180 219 540 685
 Defaulted loan expense 1,184 1,827 3,273 3,514
 Other operating expenses 577 433 1,519 1,255
 Total non-interest expense 7,537 11,810 21,510 25,424
         
Income before federal income tax expense 731 (18,769) (11,770) (41,909)
Income tax expense (benefit) 100 21,276 100 13,460
         
Net loss $631 ($40,045) ($11,870) ($55,369)
         
Per share data:        
Net loss - basic  $0.08 ($5.24) ($1.55) ($7.24)
Net loss - diluted $0.08 ($5.24) ($1.55) ($7.24)
         
Weighted average number of shares outstanding - basic 7,645,940 7,645,940 7,645,940 7,644,785
Weighted average number of shares outstanding - diluted 7,645,940 7,645,940 7,645,940 7,644,785
 
DEARBORN BANCORP, INC. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS
           
(Dollars, in thousands)          
  Quarter Ended
  9/30/10 6/30/10 3/31/10 12/31/09 9/30/09
ASSETS          
Cash and cash equivalents          
 Cash and due from banks $7,136 $7,088 $8,047 $7,803 $17,330
 Federal funds sold 56 57 57 156 6,206
 Interest bearing deposits with banks 70,216 67,056 70,898 69,538 117,732
 Total cash and cash equivalents 77,408 74,201 79,002 77,497 141,268
           
Mortgage loans held for sale  572 1,169 758 1,129 1,449
Securities 46,622 46,507 46,267 46,300 13,910
Federal Home Loan Bank stock 3,698 3,698 3,698 3,698 3,698
Loans           
 Loans 760,683 783,032 813,961 833,136 862,664
 Allowance for loan loss (29,831) (31,574) (30,288) (35,125) (28,373)
 Net loans 730,852 751,458 783,673 798,011 834,291
           
Bank premises and equipment, net 19,415 19,724 19,973 20,194 20,477
Other real estate 25,043 23,976 24,467 23,435 15,472
Other intangible assets ---  ---  ---  ---  --- 
Accrued interest receivable 3,301 3,181 3,595 3,562 3,619
Other assets 9,820 9,199 9,266 12,660 8,153
           
 Total assets $916,731 $933,113 $970,699 $986,486 $1,042,337
           
LIABILITIES          
Deposits          
 Non-interest bearing deposits $87,205 $91,447 $86,407 $83,873 $89,329
 Interest bearing deposits 722,213 736,217 765,610 784,082 815,625
 Total deposits 809,418 827,664 852,017 867,955 904,954
           
Other liabilities          
 Securities sold under agreements to repurchase ---  ---  ---  ---  2,302
 Federal Home Loan Bank advances 63,716 63,799 63,799 63,855 73,855
 Other liabilities 972 942 956 1,685 2,380
 Accrued interest payable 2,471 745 747 1,046 956
 Subordinated debentures 10,000 10,000 10,000 10,000 10,000
 Total liabilities 886,577 903,150 927,519 944,541 994,447
           
 Total stockholders' equity 30,154 29,963 43,180 41,945 47,890
           
 Total liabilities and stockholders' equity $916,731 $933,113 $970,699 $986,486 $1,042,337
 
DEARBORN BANCORP, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENT OF OPERATIONS
           
(Dollars, in thousands) Quarter ended
  9/30/2010 6/30/2010 3/31/2010 12/31/2009 9/30/2009
           
INTEREST INCOME          
Interest on loans, including fees $11,328 $11,536 $11,778 $13,042 $13,135
Interest on other earning assets 391 221 206 226 111
 Total interest income 11,719 11,757 11,984 13,268 13,246
           
INTEREST EXPENSE          
Interest on deposits 2,578 2,925 3,543 4,731 4,806
Interest on other liabilities 391 376 386 531 614
 Total interest expense 2,969 3,301 3,929 5,262 5,420
           
 Net interest income 8,750 8,456 8,055 8,006 7,826
Provision for loan loss 500 11,803 100 12,341 14,185
           
 Net interest income (loss) after provision for loan loss 8,250 (3,347) 7,955 (4,335) (6,359)
           
NON-INTEREST INCOME          
Deposit service charges 401 429 379 412 421
Gain on the sale of loans 54 66 58 99 37
Loss on the sale or write-down of real estate (998) (3,650) (667) (249) (793)
Other 561 78 171 112 (265)
 Total non-interest income (loss) 18 (3,077) (59) 374 (600)
           
NON-INTEREST EXPENSE          
Salaries and employee benefits 3,050 3,078 3,119 3,317 3,159
Occupancy and equipment expense 857 777 854 870 903
Impairment of goodwill and other intangible assets ---  ---  ---  ---  3,997
Other expense 3,630 3,350 2,795 3,109 3,751
 Total non-interest expense 7,537 7,205 6,768 7,296 11,810
           
Income (loss) before income tax provision 731 (13,629) 1,128 (11,257) (18,769)
Income tax provision (benefit) 100 0 0 (5,451) 21,276
           
Net income (loss) $631 ($13,629) $1,128 ($5,806) ($40,045)
 
DEARBORN BANCORP, INC. AND SUBSIDIARY
CONSOLIDATED FINANCIAL DATA
           
(Dollars in thousands, except share and per share data) Quarter ended
  9/30/2010 6/30/2010 3/31/2010 12/31/2009 9/30/2009
           
EARNINGS SUMMARY          
Net interest income $8,750 $8,456 $8,055 $8,006 $7,826
Provision for loan loss $500 $11,803 $100 $12,341 $14,185
Total non-interest income $18 ($3,077) ($59) $374 ($600)
Total non-interest expense $7,537 $7,205 $6,768 $7,296 $11,810
Income taxes (benefit) $100 $0 $0 ($5,451) $21,276
Net income (loss) $631 ($13,629) $1,128 ($5,806) ($40,045)
Basic earnings per share $0.08 ($1.78) $0.15 ($0.76) ($5.24)
Diluted earnings per share $0.08 ($1.78) $0.15 ($0.76) ($5.24)
           
MARKET DATA          
Book value per share $3.92 $3.90 $5.62 $5.46 $6.23
Tangible book value per share $3.92 $3.90 $5.62 $5.46 $6.23
Market value per share $1.79 $1.87 $1.11 $0.46 $1.21
Average basic common shares 7,645,940 7,645,940 7,645,940 7,645,940 7,645,940
Average diluted common shares 7,645,940 7,645,940 7,645,940 7,645,940 7,645,940
Period end common shares 7,685,705 7,685,705 7,687,470 7,687,470 7,687,470
           
PERFORMANCE RATIOS          
Return on average assets 0.27% -5.67% 0.44% -2.20% -15.77%
Return on average equity 7.92% -123.92% 10.50% -45.21% -181.36%
Net interest margin (FTE) 3.89% 3.68% 3.47% 3.14% 3.24%
Efficiency ratio 77.18% 79.80% 78.13% 84.55% 147.28%
           
ASSET QUALITY          
Net charge-offs (YTD) $17,697 $15,454 $4,937 $30,190 $24,601
Nonperforming loans $112,000 $113,676 $114,027 $108,761 $104,891
Other real estate  $25,043 $23,976 $24,467 $23,435 $15,472
Nonperforming loans to total loans 14.72% 14.52% 14.01% 13.05% 12.16%
Nonperforming assets to total assets 14.95% 14.75% 14.27% 13.40% 11.55%
Allowance for loan loss to total loans 3.92% 4.03% 3.72% 4.22% 3.29%
           
CAPITAL & LIQUIDITY          
Average equity to average assets 3.41% 4.58% 4.17% 4.87% 8.70%
Tier 1 capital to risk weighted assets 4.96% 4.63% 6.25% 6.10% 6.40%
Total capital to risk weighted assets 6.24% 6.07% 7.50% 7.39% 7.65%
Loan to deposit ratio 93.98% 94.61% 95.53% 95.99% 95.33%
Loan to funding ratio 87.12% 87.84% 88.88% 89.41% 88.13%
           
END OF PERIOD BALANCES          
Total portfolio loans $760,683 $783,032 $813,961 $833,136 $862,664
Earning assets $881,847 $901,519 $935,639 $953,957 $1,005,659
Total assets $916,731 $933,113 $970,699 $986,486 $1,042,337
Deposits $809,418 $827,664 $852,017 $867,955 $904,954
Total shareholders' equity $30,154 $29,963 $43,180 $41,945 $47,890
           
AVERAGE BALANCES          
Total portfolio loans $772,662 $801,464 $826,188 $851,447 $875,545
Earning assets $892,406 $926,477 $941,959 $1,013,062 $958,383
Total assets $926,017 $963,919 $1,045,938 $1,045,938 $1,018,320
Deposits $818,691 $844,001 $854,071 $912,691 $841,447
Total shareholders' equity $31,593 $44,114 $43,567 $50,956 $88,565
 
DEARBORN BANCORP, INC. AND SUBSIDIARY
DEPOSIT INFORMATION
(In thousands)    
  September 30
Category 2010 2009
     
Non-interest bearing    
 Demand $87,205 $89,329
     
Interest bearing    
 Interest Checking $73,669 $88,820
 Money market 55,581 75,962
 Savings 42,313 45,665
 Time, under $100,000 287,069 291,314
 Time, $100,000 and over 263,581 313,864
  722,213 815,625
     
  $809,418 $904,954
 
DEARBORN BANCORP, INC. AND SUBSIDIARY
ASSET QUALITY DATA
(Dollars, in thousands)          
  9/30/2010 6/30/2010 3/31/2010 12/31/2009 9/30/2009
           
Troubled debt restructuring $39,714 $38,530 $31,737 $59,420 $46,025
Loans over 90 days past due          
 and still accruing ---  ---  1,127 ---  --- 
Non-accrual loans 72,286 75,146 81,163 49,341 58,866
Total non-performing loans 112,000 113,676 114,027 108,761 104,891
Other real estate and          
 other repossessed assets 25,043 23,976 24,467 23,435 15,472
Total non-performing assets $137,043 $137,652 $138,494 $132,196 $120,363
           
Net charge-offs (year to date) $17,697 $15,454 $4,937 $30,190 $24,601
Allowance for loan losses 29,831 31,574 30,288 35,125 28,373
           
   
ASSET QUALITY RATIOS
   
  9/30/2010 6/30/2010 3/31/2010 12/31/2009 9/30/2009
           
Non-accrual loans to total loans 9.50% 9.60% 9.97% 5.92% 6.82%
Non-performing loans to total loans 14.72% 14.52% 14.01% 13.05% 12.16%
Non-performing assets to total assets 14.95% 14.75% 14.27% 13.40% 11.55%
Loans over 90 days past due          
 and still accruing to total loans ---% ---% 0.14% ---% ---%
Net charge-offs to average loans 2.21% 1.90% 0.60% 3.40% 2.74%
Allowance for loan losses          
 to non-performing loans 26.63% 27.78% 26.56% 32.30% 27.05%
Allowance for loan losses          
 to non-performing assets 21.77% 22.94% 21.87% 26.57% 23.57%
Allowance for loan losses          
 to total loans 3.92% 4.03% 3.72% 4.22% 3.29%
       
Dearborn Bancorp, Inc.      
Loan Information at September 30, 2010      
                   
(In thousands)   Loan Detail Other Related Data
    Accruing Loans        
  9/30/10 Current TDR 30 to 89 past due 90+ days past due Non-Accrual Allowance For Loan Losses Year to Date Net Charge-Offs Other Real Estate Owned
                   
Consumer Loans $27,391 $25,476 $0 $1,015 $0 $900 $586 $588 $114
Commercial Loans 126,573 104,470 5,780 2,728 0 13,595 7,937 3,643 2,695
Land Development - Residential 26,668 9,091 1,980 0 0 15,597 3,668 7,496 6,917
Land Development - Non Residential 9,374 8,056 0 0 0 1,318 863 300 1,786
Commercial Construction Loans - Residential 11,407 336 2,450 0 0 8,621 2,691 1,739 1,290
Commercial Construction Loans - Non Residential 17,370 14,170 3,200 0 0 0 1,985 36 1,948
Commercial Mortgage Loans 501,059 433,191 26,304 11,936 0 29,628 11,806 3,736 9,677
Residential Mortgage Loans 40,841 37,878 0 336 0 2,627 295 159 616
                   
 Totals $760,683 $632,668 $39,714 $16,015 $0 $72,286 $29,831 $17,697 $25,043
                   
                   
Loan Information at June 30, 2010      
                   
(In thousands)   Loan Detail Other Related Data
    Accruing Loans        
  6/30/10 Current TDR 30 to 89 past due 90+ days past due Non-Accrual Allowance For Loan Losses Year to Date Net Charge-Offs Other Real Estate Owned
                   
Consumer Loans $28,017 $26,782 $0 $184 $0 $1,051 $1,176 $386 $114
Commercial Loans 134,199 108,465 6,916 4,684 0 14,134 5,037 2,664 2,012
Land Development - Residential 29,233 9,506 1,980 746 0 17,001 2,437 7,171 6,034
Land Development - Non Residential 9,427 8,108 0 0 0 1,319 1,815 300 1,786
Commercial Construction Loans - Residential 11,060 687 2,160 0 0 8,213 2,516 1,711 1,525
Commercial Construction Loans - Non Residential 17,935 14,402 3,200 0 0 333 4,413 36 2,869
Commercial Mortgage Loans 511,265 441,566 24,274 14,895 0 30,530 13,833 3,005 8,786
Residential Mortgage Loans 41,896 39,248 0 83 0 2,565 347 181 850
                   
 Totals $783,032 $648,764 $38,530 $20,592 $0 $75,146 $31,574 $15,454 $23,976
                   
                   
Loan Information at March 31, 2010      
                   
(In thousands)   Loan Detail Other Related Data
    Accruing Loans        
  3/31/10 Current TDR 30 to 89 past due 90+ days past due Non-Accrual Allowance For Loan Losses Year to Date Net Charge-Offs Other Real Estate Owned
                   
Consumer Loans $28,623 $27,578 $0 $121 $0 $924 $1,041 $319 $127
Commercial Loans 141,338 113,803 7,412 7,374 0 12,749 3,663 1,506 2,441
Land Development - Residential 36,089 10,701 1,628 500 0 23,260 3,883 1,283 8,286
Land Development - Non Residential 9,711 7,026 0 0 1,127 1,558 1,055 229 1,802
Commercial Construction Loans - Residential 12,164 687 1,904 0 0 9,573 2,534 905 1,636
Commercial Construction Loans - Non Residential 20,813 17,943 0 0 0 2,870 4,246 36 0
Commercial Mortgage Loans 521,701 464,202 20,793 8,843 0 27,863 13,354 550 9,458
Residential Mortgage Loans 43,522 40,388 0 768 0 2,366 512 109 718
                   
 Totals $813,961 $682,328 $31,737 $17,606 $1,127 $81,163 $30,288 $4,937 $24,468
       
Loan Information at December 31, 2009      
                   
(In thousands)   Loan Detail Other Related Data
    Accruing Loans        
  12/31/09 Current TDR 30 to 89 past due 90+ days past due Non-Accrual Allowance For Loan Losses Year to Date Net Charge-Offs Other Real Estate Owned
                   
Consumer Loans $29,386 $27,877 $0 $270 $0 $1,239 $819 $978 $127
Commercial Loans 144,630 113,361 20,162 2,019 0 9,088 6,498 4,539 2,456
Land Development - Residential 38,472 26,557 1,980 0 0 9,935 5,909 9,334 7,853
Land Development - Non Residential 11,644 8,346 306 0 0 2,992 807 4,364 384
Commercial Construction Loans - Residential 13,287 4,983 1,784 596 0 5,924 2,003 1,471 2,177
Commercial Construction Loans - Non Residential 20,061 16,502 0 0 0 3,559 3,450 1,981 0
Commercial Mortgage Loans 531,156 474,938 35,188 6,449 0 14,581 15,286 6,858 9,469
Residential Mortgage Loans 44,500 42,098 0 379 0 2,023 353 665 969
                   
 Totals $833,136 $714,662 $59,420 $9,713 $0 $49,341 $35,125 $30,190 $23,435
                   
                   
Loan Information at September 30, 2009      
                   
(In thousands)   Loan Detail Other Related Data
    Accruing Loans        
  9/30/09 Current TDR 30 to 89 past due 90+ days past due Non-Accrual Allowance For Loan Losses Year to Date Net Charge-Offs Other Real Estate Owned
                   
Consumer Loans $30,028 $28,383 $0 $410 $0 $1,235 $623 $547 $18
Commercial Loans 154,358 131,518 13,010 1,192 0 8,638 4,784 3,368 2,588
Land Development - Residential 44,997 29,203 1,309 0 0 14,485 5,849 7,008 4,380
Land Development - Non Residential 11,604 8,244 0 231 0 3,129 778 3,999 384
Commercial Construction Loans - Residential 15,042 9,389 98 0 0 5,555 3,485 1,270 2,002
Commercial Construction Loans - Non Residential 20,445 17,378 0 0 0 3,067 1,196 1,981 0
Commercial Mortgage Loans 539,200 481,151 31,217 6,365 0 20,467 10,775 5,743 5,340
Residential Mortgage Loans 46,990 42,877 0 1,823 0 2,290 883 684 760
                   
 Totals $862,664 $748,143 $45,634 $10,021 $0 $58,866 $28,373 $24,600 $15,472
CONTACT:  Dearborn Bancorp, Inc.          Michael J. Ross, President & CEO            (313) 565-5700          Jeffrey L. Karafa, CFO            (313) 381-3200