t69495_8k.htm

TOTAL DISBURSEMENTS THIS PERIOD:

ENDING BALANCE:

TAX ACCOUNT NUMBER ________________________________________________________________

DEPOSITORY NAME AND LOCATION Bank of America, 1655 Grant St, Bldg A, 10th Floor Concord, CA 94520-2445 &# 160;

0001188112-11-000030.txt : 20110106 0001188112-11-000030.hdr.sgml : 20110106 20110106131417 ACCESSION NUMBER: 0001188112-11-000030 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20101020 ITEM INFORMATION: Bankruptcy or Receivership ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20110106 DATE AS OF CHANGE: 20110106 FILER: COMPANY DATA: COMPANY CONFORMED NAME: IMPERIAL CAPITAL BANCORP, INC. CENTRAL INDEX KEY: 0001000234 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 954596322 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33199 FILM NUMBER: 11513516 BUSINESS ADDRESS: STREET 1: 888 PROSPECT STREET STREET 2: SUITE 110 CITY: LA JOLLA STATE: CA ZIP: 92037 BUSINESS PHONE: 8585510511 MAIL ADDRESS: STREET 1: 888 PROSPECT STREET STREET 2: SUITE 110 CITY: LA JOLLA STATE: CA ZIP: 92037 FORMER COMPANY: FORMER CONFORMED NAME: ITLA CAPITAL CORP DATE OF NAME CHANGE: 19970218 FORMER COMPANY: FORMER CONFORMED NAME: IMPERIAL THRIFT & LOAN ASSOCIATION DATE OF NAME CHANGE: 19950907 8-K 1 t69495_8k.htm FORM 8-K t69495_8k.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) October 20, 2010

IMPERIAL CAPITAL BANCORP, INC.

(Exact name of registrant as specified in its charter)

Delaware	1-33199	95-4596322
(State or other jurisdiction	(Commission File No.)	(IRS Employer
jurisdiction of incorporation)		Identification Number)

888 Prospect Street, Suite 300, La Jolla, California	92037
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (858) 551-0511

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 1.03 – Bankruptcy or Receivership.

As a result of factors which Imperial Capital Bancorp, Inc. (the “Company”) has previously disclosed, during the period in which the Company is unable to file reports which comply with the requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the Company intends in lieu thereof to file, under cover of Current Reports on Form 8-K, copies of the monthly operating reports (each, a “Report”) which are required to be submitted to the Office of the United States Trustee (“OUST”).

On October 20, 2010, November 20, 2010 and December 20, 2010, the Company filed its unaudited Reports for the months of September 2010, October 2010 and November 2010, respectively, with the OUST as required by the OUST Guidelines. Copies of the Reports are attached as Exhibits 99.1, 99.2 and 99.3 to this Current Report on Form 8-K.

Each Report is limited in scope, covers a time period which is shorter or otherwise different from that which is required for reports filed pursuant to the Exchange Act, and has been prepared solely for the purpose of complying with reporting requirements of the Guidelines of the OUST, the Bankruptcy Court, and the Bankruptcy Code, 11 U.S.C. §§ 101 -1532 and therefore does not comply with the requirements of the Exchange Act. The financial information contained in each Report is preliminary and unaudited and does not purport to show the financial statements of the Company in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and, therefore, may exclude items required by GAAP. The Company cautions readers not to place undue reliance on the Reports.& #160; The Reports (i) may be subject to revision, (ii) are in a format required by the Bankruptcy Court, the OUST and the Bankruptcy Code and should not be used for investment purposes, and (iii) should not be viewed as indicative of future results. Based upon the amount of the Company’s assets and liabilities at the date of the filing of the Company’s voluntary Chapter 11 petition, it is believed that the Company’s equity securities will have no value and that any Chapter 11 plan approved by the Bankruptcy Court will not include distributions to the Company’s shareholders of cash or property of value

This Current Report on Form 8-K includes certain statements which may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. For forward-looking statements herein, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and other protections under the F ederal securities laws. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.

Limitation on Incorporation by Reference

The Reports are being furnished for informational purposes only and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended. Registration statements and other documents filed with the Securities and Exchange Commission shall not incorporate the Reports or any other information set forth in this Current Report on Form 8-K by reference, except as otherwise expressly stated in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

EXHIBIT NUMBER		DESCRIPTION
99.1		Monthly Operating Report for the month of September 2010
99.2		Monthly Operating Report for the month of October 2010
99.3		Monthly Operating Report for the month of November 2010

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		IMPERIAL CAPITAL BANCORP, INC.

Date: January 6, 2011	By:	/s/ Anthony A. Rusnak
		Anthony A. Rusnak
		Chief Operating Officer, General Counsel and Secretary

EXHIBIT INDEX

EXHIBIT NUMBER		DESCRIPTION
99.1		Monthly Operating Report for the month of September 2010
99.2		Monthly Operating Report for the month of October 2010
99.3		Monthly Operating Report for the month of November 2010

EX-99.1 2 ex99-1.htm EXHIBIT 99.1 ex99-1.htm

Exhibit 99.1

UNITED STATES DEPARTMENT OF JUSTICE

OFFICE OF THE UNITED STATES TRUSTEE

SOUTHERN DISTRICT OF CALIFORNIA


In Re:		CHAPTER 11 (BUSINESS)
		CASE NO. 3:09-bk-19431
IMPERIAL CAPITAL BANCORP, INC., a		OPERATING REPORT NO. 10
Delaware corporation		FOR THE MONTH ENDING:
		SEPTEMBER 2010
Debtor(s).

I. CASH RECEIPTS AND DISBURSEMENTS

A.1 (BANK OF AMERICA GENERAL ACCOUNT)


1.	TOTAL RECEIPTS PER ALL PRIOR GENERAL ACCOUNT REPORTS				$	5,952,722.52

2.	LESS:	TOTAL DISBURSEMENTS PER ALL PRIOR GENERAL ACCOUNT REPORTS			$	5,825,065.64

3.	BEGINNING BALANCE:				$	127,656.88

4.	RECEIPTS DURING CURRENT PERIOD:

	ACCOUNTS RECEIVABLE - PRE-FILING		$	0.00
	ACCOUNTS RECEIVABLE - POST-FILING		$	0.00
	GENERAL SALES		$	0.00
	OTHER (SPECIFY) Payments on residual interests		$	0.00
	OTHER** (SPECIFY) Refunds		$	0.00

	TOTAL RECEIPTS THIS PERIOD:				$	0.00
5.	BALANCE:				$	127,656.88

6.	LESS: TOTAL DISBURSEMENTS DURING CURRENT PERIOD


	TRANSFERS TO OTHER DIP ACCOUNTS	$	127,656.88
	DISBURSEMENTS	$	0.00
	TOTAL DISBURSEMENTS THIS PERIOD***:			$	127,656.88

7.	ENDING BALANCE:			$	0.00

8.	GENERAL ACCOUNT NUMBER__________________________
	DEPOSITORY NAME AND LOCATION Bank of America, 1655 Grant Street Bldg A, 10th Floor, Concord, CA 94520-2445 0;

TOTAL DISBURSEMENTS FROM GENERAL ACCOUNT FOR CURRENT PERIOD

DATE	CHECK NUMBER	PAYEE	PURPOSE	AMOUNT

TOTAL DISBURSEMENTS THIS PERIOD

0.00

Add additional pages as necessary to include all disbursements.

GENERAL ACCOUNT

BANK RECONCILIATION*


Balance per bank statement dated: 9/30/10		$	0.00

Plus deposits in transit (a):


	Deposit Date		Deposit Amount

			$
			$
			$

	Total deposits in transit

Less outstanding checks (a):


Check Number	Check Date	Check Amount

	Total outstanding checks	<	0.00>

Bank statement adjustments**

Adjusted bank balance		$	0.00

*	It is acceptable to attach lists of deposits in transit and outstanding checks to this form or to replace this form with a similar form.

**	Please attach a detailed explanation of any bank statement adjustment.

I. CASH RECEIPTS AND DISBURSEMENTS

A.2 (TORREY PINES ACCOUNT)


1.	TOTAL RECEIPTS PER ALL PRIOR GENERAL ACCOUNT REPORTS				$	5,680,461.00

2.	LESS:	TOTAL DISBURSEMENTS PER ALL PRIOR GENERAL ACCOUNT REPORTS			$	5,500,269.83

3.	BEGINNING BALANCE:				$	180,191.17

4.	RECEIPTS DURING CURRENT PERIOD:

	ACCOUNTS RECEIVABLE - PRE-FILING		$	0.00
	ACCOUNTS RECEIVABLE - POST-FILING		$	0.00
	GENERAL SALES		$	0.00
	OTHER (SPECIFY) Payments on residual interests		$	25,764.48
	OTHER (SPECIFY) Asset sales		$	105,500.53
	OTHER (SPECIFY) Refunds		$	15,371.38
	OTHER (SPECIFY) Transfer from Bank of America account		$	127,656.88

	TOTAL RECEIPTS THIS PERIOD:				$	274,293.27
5.	BALANCE:				$	454,484.44

6.	LESS: TOTAL DISBURSEMENTS DURING CURRENT PERIOD

	TRANSFERS TO OTHER DIP ACCOUNTS	$	46,765.26
	DISBURSEMENTS	$	205,463.50
	TOTAL DISBURSEMENTS THIS PERIOD***:			$	252,228.76

7.	ENDING BALANCE:			$	202,255.68

8.	GENERAL ACCOUNT NUMBER__________________________
	DEPOSITORY NAME AND LOCATION Torrey Pines Bank, 4350 Executive Drive, Suite 130, San Diego, CA 92121

TOTAL DISBURSEMENTS FROM GENERAL ACCOUNT FOR CURRENT PERIOD

DATE	CHECK NUMBER	PAYEE	PURPOSE		AMOUNT
09/02/10	1043	State Compensation Insurance Fund	Workers compensation insurance premium		459.62
09/01/10	1044	Time Warner Cable	Internet services		186.47
09/01/10	1045	Mellon Investor Services	Stock transfer agent		3,339.82
09/07/10	1047	Freedom Voice	Telephone services		185.23
09/08/10	1048	888 Prospect LJ, LLC	Office rent		6,440.56
09/07/10	1049	A Quality Connection	Telephone maintenance		168.75
09/07/10	1050	Takeo Sasaki	Consulting – accounting services		1,768.50
09/14/10	1051	Union Bank	Trustee fees for employee benefit plans		4,962.60
09/09/10	1052	Ace Parking Management	Parking services		350.00
09/13/10	1053	Public Storage	Storage services		805.75
09/15/10	1054	Verizon Wireless	Telephone services		220.65
09/20/10	1055	Stutman, Treister & Glatt	Legal services		144,165.33
09/15/10	1057	UPS	Shipping services		211.01
09/14/10	1058	San Diego Gas & Electric	Utilities		558.86
09/20/10	1059	Mellon Investor Services	Stock transfer agent		175.70
09/16/10	1060	Lincoln National Insurance Company	Health insurance premiums		34.00
09/16/10	1061	Lincoln National Insurance Company	Health insurance premiums		82.00
09/16/10	1062	Lincoln National Insurance Company	Health insurance premiums		312.07
09/21/10	1063	Mass Mutual	Retirement plan expense		7.97
09/02/10	Bank Debit	Torrey Pines Bank	Wire transfer fee		10.00
09/13/10	Bank Debit	Torrey Pines Bank	Wire transfer fee		30.00
09/13/10	Bank Debit	Akin Gump Strauss Hauer & Feld	Wire transfer for legal fees		40,968.61
09/27/10	Bank Debit	Torrey Pines Bank	Wire transfer fee		10.00
09/30/10	Bank Debit	Torrey Pines Bank	Wire transfer fee		10.00

		TOTAL DISBURSEMENTS THIS PERIOD		$	205,463.50
Add additional pages as necessary to include all disbursements.

GENERAL ACCOUNT

BANK RECONCILIATION*

Balance per bank statement dated: 9/30/10

202,255.68

Plus deposits in transit (a):


	Deposit Date		Deposit Amount

			$
			$
			$

	Total deposits in transit

Less outstanding checks (a):


Check Number	Check Date		Check Amount

1056	09/10/10	$	301.34
1064	09/30/10	$	160.00

	Total outstanding checks	<	461.34>

Bank statement adjustments**

Adjusted bank balance		$	201,794.34

*	It is acceptable to attach lists of deposits in transit and outstanding checks to this form or to replace this form with a similar form.

**	Please attach a detailed explanation of any bank statement adjustment.

I. CASH RECEIPTS AND DISBURSEMENTS (Continued)

B.1 (BANK OF AMERICA PAYROLL ACCOUNT)


1.	TOTAL RECEIPTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS				$	117,770.84

2.	LESS: TOTAL DISBURSEMENTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS				$	117,770.84

3.	BEGINNING BALANCE				$	0.00

4.	RECEIPTS:
	TRANSFERRED FROM OTHER GENERAL ACCOUNT				$	0.00

5.	BALANCE				$	0.00

6.	LESS: DISBURSEMENTS DURING CURRENT PERIOD

	DATE	CHECK NO.	PAYEE	AMOUNT







	TOTAL DISBURSEMENTS THIS PERIOD:				$	0.00

7.	ENDING BALANCE:				$	0.00

8.	PAYROLL ACCOUNT NUMBER __________________________________
	DEPOSITORY NAME AND LOCATION Bank of America, 1655 Grant Street Bldg A, 10th Floor, Concord, California 94500-2455

PAYROLL ACCOUNT

BANK RECONCILIATION*


Balance per bank statement dated: 9/30/10		$	0.00

Plus deposits in transit (a):


Deposit Date	Deposit Amount

	$
	$
	$

Total deposits in transit		0.00

Less outstanding checks (a):


Check Number	Check Date	Check Amount

	Total outstanding checks	<	0.00>

Bank statement adjustments**

Adjusted bank balance		$	0.00

I. CASH RECEIPTS AND DISBURSEMENTS (Continued)

B.2 (TORREY PINES PAYROLL ACCOUNT)


1.	TOTAL RECEIPTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS				$	165,872.38

2.	LESS: TOTAL DISBURSEMENTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS				$	165,465.92

3.	BEGINNING BALANCE				$	406.46

4.	RECEIPTS:
	TRANSFERRED FROM OTHER ACCOUNT
	(Torrey Pines Bank general account)				$	32,347.80

5.	BALANCE				$	32,754.26

6.	LESS: DISBURSEMENTS DURING CURRENT PERIOD

	DATE	CHECK NO.	PAYEE	AMOUNT
	09/14/10	Payroll fee	NPS Payroll Services	64.00
	09/14/10	Transfer payroll 9/1 to 9/15	NPS Payroll Services	4,875.69
	09/14/10	Transfer payroll 9/1 to 9/15	NPS Payroll Services	11,234.21
	09/29/10	Payroll fee	NPS Payroll Services	64.00
	09/29/10	Transfer payroll 9/16 to 9/30	NPS Payroll Services	4,866.48
	09/29/10	Transfer payroll 9/16 to 9/30	NPS Payroll Services	11,243.42

	TOTAL DISBURSEMENTS THIS PERIOD:				$	32,347.80

7.	ENDING BALANCE:				$	406.46

8.	PAYROLL ACCOUNT NUMBER __________________________________
	DEPOSITORY NAME AND LOCATION Torrey Pines Bank, 4350 Executive Drive, Suite 130, San Diego, CA 92121

PAYROLL ACCOUNT

BANK RECONCILIATION*


Balance per bank statement dated: 9/30/10		$	406.46

Plus deposits in transit (a):


Deposit Date	Deposit Amount

	$
	$
	$

Total deposits in transit		0.00

Less outstanding checks (a):


Check Number	Check Date	Check Amount

	Total outstanding checks	<	0.00>

Bank statement adjustments**

Adjusted bank balance		$	406.46

*	It is acceptable to attach lists of deposits in transit and outstanding checks to this form or to replace this form with a similar form.

**	Please attach a detailed explanation of any bank statement adjustment.

I. CASH RECEIPTS AND DISBURSEMENTS (Continued)

C. (TAX ACCOUNT)


1.	TOTAL RECEIPTS PER ALL PRIOR TAX ACCOUNT REPORTS		$	0.00

2.	LESS:	TOTAL DISBURSEMENTS PER ALL PRIOR TAX ACCOUNT REPORTS	$	0.00

3.	BEGINNING BALANCE		$	0.00

4.	RECEIPTS:
	TRANSFERRED FROM GENERAL ACCOUNT		$	0.00

5.	BALANCE		$	0.00

6.	LESS: DISBURSEMENTS DURING CURRENT PERIOD

DATE	CHECK NO.	PAYEE	AMOUNT

TAX ACCOUNT
BANK RECONCILIATION*


Balance per bank statement dated: ____________________		$	0.00

Plus deposits in transit (a):


	Deposit Date		Deposit Amount

			$

Total deposits in transit

0.00

Less outstanding checks (a):


Check Number	Check Date	Check Amount

Total outstanding checks	<	0.00>

Bank statement adjustments**

Adjusted bank balance	$	0.00

D. SUMMARY SCHEDULE OF CASH


ENDING BALANCE FOR PERIOD:
GENERAL ACCOUNT – Bk of America	$	0.00
GENERAL ACCOUNT – Torrey Pines Bk	$	202,255.68
PAYROLL ACCOUNT – Bk of America	$	0.00
PAYROLL ACCOUNT – Torrey Pines Bk	$	406.46
TAX ACCOUNT	$	0.00
OTHER ACCOUNTS*:
Torrey Pines Bank
4350 Executive Drive, Suite 130
San Diego, CA 92121
Money Market Account #	$	5,011,962.80

Torrey Pines Bank
4350 Executive Drive, Suite 130
San Diego, CA 92121
Rabbi Trust Assets
Money Market Account #	$	6,845,360.13

OTHER MONIES*:_______________	$
PETTY CASH**	$	250.00

TOTAL CASH AVAILABLE	$	12,060,235.07

NOTE: Attach copies of monthly accounts statements from financial institutions for each account.

II. STATUS OF PAYMENTS TO SECURED CREDITORS, LESSORS,

AND OTHER PARTIES TO EXECUTORY CONTRACTS

CREDITOR,

LESSOR, ETC.

FREQUENCY OF

PAYMENTS

(Mo./Qtr.)

AMOUNT OF

PAYMENT

POST-PETITION

PAYMENTS

NOT MADE

(NUMBER)

TOTAL DUE

888 Prospect LJ, LLC

Monthly

6,440.56

None

TOTAL DUE

None

III. TAX LIABILITIES


FOR THE REPORTING PERIOD:
GROSS SALES SUBJECT TO SALES TAX	$	0
TOTAL WAGES PAID	$	30,715.34

	TOTAL POST- PETITION AMOUNTS OWING		AMOUNT DELINQUENT		DATE DELINQUENT AMOUNT DUE
FEDERAL WITHHOLDING	$	0.00	$	0.00
STATE WITHHOLDING	$		$
FICA - EMPLOYER’S SHARE	$		$
FICA - EMPLOYEE’S SHARE	$		$
FEDERAL UNEMPLOYMENT	$		$
STATE WITHHOLDING	$		$
SALES AND USE	$		$
REAL PROPERTY	$		$
OTHER: (SPECIFY)	$		$
TOTAL:	$		$

IV. AGING OF ACCOUNTS PAYABLE AND ACCOUNTS RECEIVABLE

ACCOUNTS PAYABLE*

(POST-PETITION ONLY)

ACCOUNTS

Pre-Petition

RECEIVABLE

Post-Petition

30 days or less

None

31 - 60 days

61 - 90 days

91 - 120 days

Over 120 days

TOTALS:

V. INSURANCE COVERAGE

NAME OF

CARRIER

AMOUNT OF

COVERAGE

POLICY

EXPIRATION

DATE

PREMIUM PAID

THROUGH:

General Liability

Hartford

$1,000,000/occurrence

3/15/11

Worker Compensation

State Fund

$1,000,000/occurrence

2/15/11

October 2010

Vehicle

Hartford

$1,000,000/occurrence

3/15/11

VI. UNITED STATES TRUSTEE QUARTERLY FEES

(TOTAL PAYMENTS)


Qtrly Period Ending	Total Disbursements		Qtrly Fees		Date Paid	Amount Paid		Qtrly Fee Still Owing
12/31/09	$	3,100.00	$	325.00	1/29/10	$	325.00	$	0.00
3/31/10	$	165,607.22	$	1,625.00	4/7/10, 5/13/10	$ $	325.00, 1,300.00	$	0.00
6/30/10	$	260,256.53	$	1,950.00	8/17/10	$	1,950.00	$	0.00
9/30/10	$	708,521.60	$	4,875.00				$	4,875.00

Post-Petition Accounts Payable should not include professionals’ fees and expenses which have been incurred but not yet awarded by the Court. Post-Petition Accounts Payable should include professionals ‘ fees and expenses authorized by Court Order but which remain unpaid as of the close of the period of the report.

VII. SCHEDULE OF COMPENSATION PAID TO INSIDERS

Name of Insider

Date of Order

Authorizing

Compensation

Authorized Gross

Compensation*

Gross Compensation

Paid During the Month

Joseph W. Kiley, III

3/11/10

$10,000/month

10,000.00

Anthony Rusnak

3/11/10

$148,000/year plus

additional amount in

insider compensation

request

12,333.34

* Please indicate how compensation was identified in the order (e.g., $1,000/wk, $2,500/mo)

VIII. SCHEDULE OF OTHER AMOUNTS PAID TO INSIDERS


Name of Insider	Date of Order Authorizing Payment	Description	Amount Paid During the Month
None

IX. PROFIT AND LOSS STATEMENT

(ACCRUAL BASIS ONLY)


	Current Month			Cumulative Post-Petition
Sales/Revenue:
Gross Sales/Revenue		0.00			0.00
Less: Returns/Discounts		(0.00	)		(0.00	)
Net Sales/Revenue		0.00			0.00

Cost of Goods Sold:
Beginning Inventory at cost Purchases		0.00			0.00
Less: Ending Inventory at cost		(0.00	)		(0.00	)
Cost of Goods Sold (COGS)		0.00			0.00

Gross Profit
Other Operating Income (Itemize)		0.00			0.00

Operating Expenses:
Payroll - Insiders		0.00			0.00
Payroll - Other Employees		30,715.34			291,807.40
Payroll Taxes		1,504.46			23,085.46
Other Taxes (Itemize)		0.00			0.00
Depreciation and Amortization		0.00			0.00
Lease Expense		6,440.56			57,965.04
Insurance		16,283.52			168,915.36
Telephone and Utilities		(161.60	)		11,683.64
Repairs, Maintenance, Janitorial, Office, Plant Service		328.75			5,372.03
Travel and Entertainment (Itemize)
Mileage, Parking and Auto		229.95			2,594.89
Meals		65.85			820.48
Airfare		0.00			12,500.00
Miscellaneous Operating Expenses (Itemize)
Insurance – Employees		(13,989.39	)		(137,423.64	)
Workers Compensation Insurance		0.00			3,729.26
Parking Services		350.00			4,950.00
Storage and Moving		805.75			8,335.20
Bank Service Charges		70.00			3,634.43
Payroll Fees		128.00			2,107.25
Office Supplies		0.00			217.93
Postage and Shipping		203.74			531.33
Employee Expense		0.00			(58.05	)
Advertising		0.00			(1,000.00	)
Taxes and Licenses		0.00			1,214.00
Fines, Penalties and Late Charges		0.00			2,815.63
Director Expense		0.00			5,000.00
US Trustee Fees		0.00			3,900.00
Total Operating Expenses		42,974.93			472,697.64

Net Gain/(Loss) from Operations		(42,974.93	)		(472,697.64	)

Non-Operating Income:
Interest on Cash Accounts		6,128.65			27,329.35
Gain (Loss) on Sale of Assets		105,499.53			66,640.22
Prudential Stock Dividends		0.00			1,332.10
Mark to Market on CSV of Life Insurance Policies		314,468.62			158,385.18
Income taxes		0.00			2,703,141.71
Total Non-Operating income		426,096.80			2,956,828.56

Non-Operating Expenses:
Interest Expense		0.00			0.00
Legal Expense		262,373.97			1,575,835.41
Audit and Accounting		33,434.32			304,288.02
Consulting		6,914.77			49,215.85
Other (Itemize)		(205.71	)		(4,566.44	)
Total Non-Operating Expenses		302,517.35			1,924,772.84
NET INCOME/(LOSS)		80,604.52			559,358.08

(Attach exhibit listing all itemizations required above)

X. BALANCE SHEET

(ACCRUAL BASIS ONLY)


	Current Month End
ASSETS
Current Assets:
Unrestricted Cash		12,059,773.73
Other (Itemize)
Security Deposit Held by Landlord		30,971.51
Money Market Accounts		0.00
Total Current Assets				12,090,745.24

Other Assets (Net of Amortization):
Due from Insiders		0.00
Other (Itemize)
Cash Improperly Withheld in former ICB account (City National Bank)		47,285.39
Residual Interest in Securities		341,982.78
Investment in ITLA Mortgage Loan Securitization 2002-1		75,000.00
Automobiles		24,275.00
Furniture and Equipment		43,795.38
Current and Deferred Income Taxes		29,297,406.00
Delaware Franchise Taxes		99,945.00
Prepaid Expenses, Net		79,338.15
Interests in Insurance Policies		441,240.00
Interest in Rabbi Trust Agreement		25,635.02
Other		49,028.35

Total Other Assets				30,524,931.07

TOTAL ASSETS				42,615,676.31

LIABILITIES
Postpetition Liabilities:
Accounts Payable		0.00
Professional fees		0.00
Secured Debt		0.00
Total Postpetition Liabilities				0.00

Prepetition Liabilities:
Secured Liabilities		0.00
Priority Liabilities		0.00
Unsecured Liabilities		99,893,089.31
Total Prepetition Liabilities				99,893,089.31
TOTAL LIABILITIES				99,893,089.31

EQUITY:
Prepetition Owners’ Equity		(57,741,774.08	)
Postpetition Profit/(Loss)		559,358.08
Direct Charges to Equity		(94,997.00	)
TOTAL EQUITY				(57,277,413.00	)
TOTAL LIABILITIES & EQUITY				42,615,676.31

XI. QUESTIONNAIRE


1.	Has the debtor-in-possession made any payments on its pre-petition unsecured debt, except as have been authorized by the court?
	X No.
	Yes. Explain &# 160;


2.	Has the debtor-in-possession during this reporting period provided compensation or remuneration to any officers, directors, principals, or other insiders without appropriate authorization?
	X No.
	Yes. Amount, to whom, and for what period? &# 160;


3.	State what progress was made during the reporting period toward filing a plan of reorganization:
	The Debtor filed for chapter 11 protection on December 18, 2009 just after the Federal Deposit Insurance Corporation (“FDIC”) seized its subsidiary, Imperial Capital Bank. The Debtor, its Board of Directors, and outside professionals are presently analyzing various restrucutring options to determine the best return for the Debtor’s unsecured creditors. Given that the Debtor is a public company with substantial net operating losses, the Debtor may be able to implement a business restructuring, rather than a chapter 11 liquidation. On October 4, 2010, the Debtor filed a liquidating plan with the Court.

4.	Describe potential future developments which may have a significant impact on the case.
	As stated above, the Debtor, its Board of Directors, and outside professionals are analyzing various restructuring options. The result of such analysis will dictate the future of the Debtor’s chapter 11 case. As mentioned above, on October 4, 2010, the Debtor filed a liquidating plan with the Court.




5.	Attach copies of all Orders granting relief from the automatic stay that were entered during the reporting period. NONE

6.	Did you receive any exempt income this month, which is not set forth in the operating report?
	X No.
	Yes. Please set forth the amounts and the source of the income.




I, Joseph W. Kiley, III, Chief Executive Officer, (Name and title), declare under penalty of perjury that I have fully read and understood the foregoing debtor-in-possession operating report and that the information contained herein is true and complete to the best of my knowledge.

Date:	October 20, 2010		/s/ Joseph W. Kiley
			Principal for debtor-in-possession

EX-99.2 3 ex99-2.htm EXHIBIT 99.2 ex99-2.htm

Exhibit 99.2

UNITED STATES DEPARTMENT OF JUSTICE

OFFICE OF THE UNITED STATES TRUSTEE

SOUTHERN DISTRICT OF CALIFORNIA

In Re:		CHAPTER 11 (BUSINESS)
		CASE NO. 3:09-bk-19431
IMPERIAL CAPITAL BANCORP, INC.,		OPERATING REPORT NO. 11
a Delaware corporation		FOR THE MONTH ENDING:
		OCTOBER 2010

Debtor(s).

I. CASH RECEIPTS AND DISBURSEMENTS

A.1 (BANK OF AMERICA GENERAL ACCOUNT)


1.	TOTAL RECEIPTS PER ALL PRIOR GENERAL ACCOUNT REPORTS				$	5,952,722.52

2.	LESS:	TOTAL DISBURSEMENTS PER ALL PRIOR GENERAL ACCOUNT REPORTS			$	5,952,722.52

3.	BEGINNING BALANCE:				$	0.00

4.	RECEIPTS DURING CURRENT PERIOD:

	ACCOUNTS RECEIVABLE - PRE-FILING		$	0.00
	ACCOUNTS RECEIVABLE - POST-FILING		$	0.00
	GENERAL SALES		$	0.00
	OTHER (SPECIFY) Payments on residual interests		$	0.00
	OTHER** (SPECIFY) Refunds		$	0.00

	TOTAL RECEIPTS THIS PERIOD:				$	0.00
5.	BALANCE:				$	0.00

6.	LESS: TOTAL DISBURSEMENTS DURING CURRENT PERIOD

	TRANSFERS TO OTHER DIP ACCOUNTS	$	0.00
	DISBURSEMENTS	$	0.00
	TOTAL DISBURSEMENTS THIS PERIOD***:			$	0.00

7.	ENDING BALANCE:			$	0.00

8.	GENERAL ACCOUNT NUMBER
	DEPOSITORY NAME AND LOCATION Bank of America, 1655 Grant Street Bldg A, 10th Floor, Concord, CA 94520-2445

TOTAL DISBURSEMENTS FROM GENERAL ACCOUNT FOR CURRENT PERIOD

DATE	CHECK NUMBER	PAYEE	PURPOSE	AMOUNT

TOTAL DISBURSEMENTS THIS PERIOD		$	0.00
Add additional pages as necessary to include all disbursements.

GENERAL ACCOUNT

BANK RECONCILIATION*


Balance per bank statement dated: 10/31/10		$	0.00

Plus deposits in transit (a):


	Deposit Date		Deposit Amount

			$
			$
			$

	Total deposits in transit

Less outstanding checks (a):


Check Number	Check Date	Check Amount

	Total outstanding checks	<	0.00>

Bank statement adjustments**

Adjusted bank balance		$	0.00

*	It is acceptable to attach lists of deposits in transit and outstanding checks to this form or to replace this form with a similar form.

**	Please attach a detailed explanation of any bank statement adjustment.

I. CASH RECEIPTS AND DISBURSEMENTS

A.2 (TORREY PINES ACCOUNT)


1.	TOTAL RECEIPTS PER ALL PRIOR GENERAL ACCOUNT REPORTS				$	5,954,754.27

2.	LESS:	TOTAL DISBURSEMENTS PER ALL PRIOR GENERAL ACCOUNT REPORTS			$	5,752,498.59

3.	BEGINNING BALANCE:				$	202,255.68

4.	RECEIPTS DURING CURRENT PERIOD:

	ACCOUNTS RECEIVABLE - PRE-FILING		$	0.00
	ACCOUNTS RECEIVABLE - POST-FILING		$	0.00
	GENERAL SALES		$	0.00
	OTHER (SPECIFY) Payments on residual interests		$	19,595.82
	OTHER (SPECIFY) Asset sales		$	10,240.00
	OTHER (SPECIFY) Refunds		$	2,648.12
	OTHER (SPECIFY)		$	0.00

	TOTAL RECEIPTS THIS PERIOD:				$	32,483.94
5.	BALANCE:				$	234,739.62

6.	LESS: TOTAL DISBURSEMENTS DURING CURRENT PERIOD

	TRANSFERS TO OTHER DIP ACCOUNTS		$	32,347.80
	DISBURSEMENTS		$	100,430.05
	TOTAL DISBURSEMENTS THIS PERIOD***:				$	132,777.85

7.	ENDING BALANCE:				$	101,961.77

8.	GENERAL ACCOUNT NUMBER ___________________________
	DEPOSITORY NAME AND LOCATION Torrey Pines Bank, 4350 Executive Drive, Suite 130, San Diego, CA 92121

TOTAL DISBURSEMENTS FROM GENERAL ACCOUNT FOR CURRENT PERIOD

DATE	CHECK NUMBER	PAYEE	PURPOSE	AMOUNT
10/04/10	1056	Joseph Kiley	Expense reimbursement		301.34
10/05/10	1064	Mary Jane Mulson	Janitorial services		160.00
10/08/10	1066	State Compensation Insurance Fund	Workers compensation insurance premium		459.62
10/12/10	1067	Ace Parking Management	Parking services		350.00
10/08/10	1068	888 Prospect LJ, LLC	Office rent		6,440.56
10/13/10	1069	Public Storage	Storage services		194.20
10/18/10	1070	Verizon Wireless	Telephone services		201.65
10/12/10	1071	Takeo Sasaki	Consulting – accounting services		1,768.50
10/13/10	1072	Coffee Ambassador	Office expense		84.57
10/15/10	1073	Mass Mutual	Retirement plan expense		11.81
10/12/10	1074	UPS	Shipping services		68.54
10/15/10	1075	Time Warner Cable	Internet services		186.47
10/07/10	1076	Mary Jane Mulson	Janitorial services		1,000.00
10/18/10	1077	Freedom Voice	Telephone services		344.49
10/13/10	1078	San Diego Gas & Electric	Utilities		679.58
10/19/10	1079	Joseph Kiley	Expense reimbursement		287.97
10/28/10	1080	State Compensation Insurance Fund	Workers compensation insurance premium		459.62
10/27/10	1082	Union Bank	Trustee fees for employee benefit plans		15,619.39
10/21/10	1083	A Quality Connection	Telephone maintenance		561.00
10/29/10	1084	A Quality Connection	Telephone maintenance		561.00
10/29/10	1085	Mary Jane Mulson	Janitorial services		160.00
10/13/10	Bank Debit	Torrey Pines Bank	Wire transfer fee		30.00
10/13/10	Bank Debit	Akin Gump Strauss Hauer & Feld	Wire transfer for legal fees		70,489.74
10/25/10	Bank Debit	Torrey Pines Bank	Wire transfer fee		10.00
		TOTAL DISBURSEMENTS THIS PERIOD		$	100,430.05
Add additional pages as necessary to include all disbursements.

GENERAL ACCOUNT

BANK RECONCILIATION*


Balance per bank statement dated: 10/31/10		$	101,961.77

Plus deposits in transit (a):


	Deposit Date		Deposit Amount

			$
			$
			$

	Total deposits in transit

Less outstanding checks (a):


Check Number	Check Date		Check Amount

1081	10/18/10	$	3,015.55
1086	10/29/10	$	500.00

	Total outstanding checks	<	3,515.55>

Bank statement adjustments**

Adjusted bank balance		$	98,446.22

*	It is acceptable to attach lists of deposits in transit and outstanding checks to this form or to replace this form with a similar form.

**	Please attach a detailed explanation of any bank statement adjustment.

I. CASH RECEIPTS AND DISBURSEMENTS (Continued)

B.1 (BANK OF AMERICA PAYROLL ACCOUNT)

1.	TOTAL RECEIPTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS	$	117,770.84

2.	LESS: TOTAL DISBURSEMENTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS	$	117,770.84

3.	BEGINNING BALANCE	$	0.00

4.	RECEIPTS:
	TRANSFERRED FROM OTHER GENERAL ACCOUNT	$	0.00

5.	BALANCE	$	0.00

6.	LESS: DISBURSEMENTS DURING CURRENT PERIOD


DATE	CHECK NO.	PAYEE	AMOUNT


		TOTAL DISBURSEMENTS THIS PERIOD:	$	0.00

7.	ENDING BALANCE:		$	0.00

8.	PAYROLL ACCOUNT NUMBER _________________________________
	DEPOSITORY NAME AND LOCATION Bank of America, 1655 Grant Street Bldg A, 10th Floor, Concord, California 94500-2455 0;

PAYROLL ACCOUNT

BANK RECONCILIATION*


Balance per bank statement dated: 10/31/10		$	0.00

Plus deposits in transit (a):


Deposit Date	Deposit Amount

	$
	$
	$

Total deposits in transit		0.00

Less outstanding checks (a):


Check Number	Check Date	Check Amount

	Total outstanding checks	<	0.00>

Bank statement adjustments**

Adjusted bank balance		$	0.00

I. CASH RECEIPTS AND DISBURSEMENTS (Continued)

B.2 (TORREY PINES PAYROLL ACCOUNT)

1.	TOTAL RECEIPTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS	$	198,220.18

2.	LESS: TOTAL DISBURSEMENTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS	$	197,813.72

3.	BEGINNING BALANCE	$	406.46

4.	RECEIPTS:
	TRANSFERRED FROM OTHER ACCOUNT
	(Torrey Pines Bank general account)	$	32,347.80

5.	BALANCE	$	32,754.26

6.	LESS: DISBURSEMENTS DURING CURRENT PERIOD


DATE	CHECK NO.	PAYEE	AMOUNT
10/14/10	Payroll fee	NPS Payroll Services	64.00
10/14/10	Transfer payroll 10/1 to 10/15	NPS Payroll Services	4,820.69
10/14/10	Transfer payroll 10/1 to 10/15	NPS Payroll Services	11,289.21
10/28/10	Payroll fee	NPS Payroll Services	74.00
10/28/10	Transfer payroll 10/16 to 10/31	NPS Payroll Services	2,931.43
10/28/10	Transfer payroll 10/16 to 10/31	NPS Payroll Services	6,922.38
10/29/10	Transfer payroll 10/16 to 10/31	NPS Payroll Services	1,644.42
10/29/10	Transfer payroll 10/16 to 10/31	NPS Payroll Services	4,611.67


		TOTAL DISBURSEMENTS THIS PERIOD:	$	32,357.80

7.	ENDING BALANCE:		$	396.46

8.	PAYROLL ACCOUNT NUMBER _________________________________
	DEPOSITORY NAME AND LOCATION Torrey Pines Bank, 4350 Executive Drive, Suite 130, San Diego, CA 92121 ;

PAYROLL ACCOUNT

BANK RECONCILIATION*


Balance per bank statement dated: 10/31/10		$	396.46

Plus deposits in transit (a):


Deposit Date	Deposit Amount

	$
	$
	$

Total deposits in transit		0.00

Less outstanding checks (a):


Check Number	Check Date	Check Amount

	Total outstanding checks	<	0.00>

Bank statement adjustments**

Adjusted bank balance		$	396.46

*	It is acceptable to attach lists of deposits in transit and outstanding checks to this form or to replace this form with a similar form.

**	Please attach a detailed explanation of any bank statement adjustment.

I. CASH RECEIPTS AND DISBURSEMENTS (Continued)

C. (TAX ACCOUNT)


1.	TOTAL RECEIPTS PER ALL PRIOR TAX ACCOUNT REPORTS		$	0.00

2.	LESS:	TOTAL DISBURSEMENTS PER ALL PRIOR TAX ACCOUNT REPORTS	$	0.00

3.	BEGINNING BALANCE		$	0.00

4.	RECEIPTS:
	TRANSFERRED FROM GENERAL ACCOUNT		$	0.00

5.	BALANCE		$	0.00

6.	LESS: DISBURSEMENTS DURING CURRENT PERIOD

DATE	CHECK NO.	PAYEE	AMOUNT

TAX ACCOUNT

BANK RECONCILIATION*


Balance per bank statement dated: ____________________		$	0.00

Plus deposits in transit (a):


	Deposit Date		Deposit Amount

			$

Total deposits in transit

0.00

Less outstanding checks (a):


Check Number	Check Date	Check Amount

Total outstanding checks	<	0.00>

Bank statement adjustments**

Adjusted bank balance	$	0.00

D. SUMMARY SCHEDULE OF CASH


ENDING BALANCE FOR PERIOD:
GENERAL ACCOUNT – Bk of America	$	0.00
GENERAL ACCOUNT – Torrey Pines Bk	$	101,961.77
PAYROLL ACCOUNT – Bk of America	$	0.00
PAYROLL ACCOUNT – Torrey Pines Bk	$	396.46
TAX ACCOUNT	$	0.00
OTHER ACCOUNTS*:
Torrey Pines Bank
4350 Executive Drive, Suite 130
San Diego, CA 92121
Money Market Account #	$	4,987,794.61

Torrey Pines Bank
4350 Executive Drive, Suite 130
San Diego, CA 92121
Rabbi Trust Assets
Money Market Account #	$	6,850,904.22

OTHER MONIES*:_______________	$
PETTY CASH**	$	250.00

TOTAL CASH AVAILABLE	$	11,941,307.06

NOTE: Attach copies of monthly accounts statements from financial institutions for each account.

II. STATUS OF PAYMENTS TO SECURED CREDITORS, LESSORS,

AND OTHER PARTIES TO EXECUTORY CONTRACTS

CREDITOR,

LESSOR, ETC.

FREQUENCY OF

PAYMENTS

(Mo./Qtr.)

AMOUNT OF

PAYMENT

POST-PETITION

PAYMENTS

NOT MADE

(NUMBER)

TOTAL DUE

888 Prospect LJ, LLC

Monthly

6,440.56

None

TOTAL DUE

None

III. TAX LIABILITIES


FOR THE REPORTING PERIOD:
GROSS SALES SUBJECT TO SALES TAX	$	0
TOTAL WAGES PAID	$	30,715.34

	TOTAL POST- PETITION AMOUNTS OWING		AMOUNT DELINQUENT		DATE DELINQUENT AMOUNT DUE
FEDERAL WITHHOLDING	$	0.00	$	0.00
STATE WITHHOLDING	$		$
FICA - EMPLOYER’S SHARE	$		$
FICA - EMPLOYEE’S SHARE	$		$
FEDERAL UNEMPLOYMENT	$		$
STATE WITHHOLDING	$		$
SALES AND USE	$		$
REAL PROPERTY	$		$
OTHER: (SPECIFY)	$		$
TOTAL:	$		$

IV. AGING OF ACCOUNTS PAYABLE AND ACCOUNTS RECEIVABLE

ACCOUNTS PAYABLE*

(POST-PETITION ONLY)

ACCOUNTS

Pre-Petition

RECEIVABLE

Post-Petition

30 days or less

None

31 - 60 days

61 - 90 days

91 - 120 days

Over 120 days

TOTALS:

V. INSURANCE COVERAGE

NAME OF

CARRIER

AMOUNT OF

COVERAGE

POLICY

EXPIRATION

DATE

PREMIUM PAID

THROUGH:

General Liability

Hartford

$1,000,000/occurrence

3/15/11

Worker Compensation

State Fund

$1,000,000/occurrence

2/15/11

November 2010

Vehicle

Hartford

$1,000,000/occurrence

3/15/11

VI. UNITED STATES TRUSTEE QUARTERLY FEES

(TOTAL PAYMENTS)


Qtrly Period Ending	Total Disbursements		Qtrly Fees		Date Paid	Amount Paid		Qtrly Fee Still Owing
12/31/09	$	3,100.00	$	325.00	1/29/10	$	325.00	$	0.00
3/31/10	$	165,607.22	$	1,625.00	4/7/10, 5/13/10	$ $	325.00, 1,300.00	$	0.00
6/30/10	$	260,256.53	$	1,950.00	8/17/10	$	1,950.00	$	0.00
9/30/10	$	708,521.60	$	4,875.00				$	4,875.00


*	Post-Petition Accounts Payable should not include professionals’ fees and expenses which have been incurred but not yet awarded by the Court. Post-Petition Accounts Payable should include professionals ‘ fees and expenses authorized by Court Order but which remain unpaid as of the close of the period of the report.

VII. SCHEDULE OF COMPENSATION PAID TO INSIDERS

Name of Insider

Date of Order

Authorizing

Compensation

Authorized Gross

Compensation*

Gross Compensation

Paid During the Month

Joseph W. Kiley, III

3/11/10

$10,000/month

10,000.00

Anthony Rusnak

3/11/10

$148,000/year plus additional amount in insider compensation request

12,333.34

* Please indicate how compensation was identified in the order (e.g., $1,000/wk, $2,500/mo)

VIII. SCHEDULE OF OTHER AMOUNTS PAID TO INSIDERS


Name of Insider	Date of Order Authorizing Payment	Description	Amount Paid During the Month
None

IX. PROFIT AND LOSS STATEMENT

(ACCRUAL BASIS ONLY)


	Current Month			Cumulative Post-Petition
Sales/Revenue:
Gross Sales/Revenue		0.00			0.00
Less: Returns/Discounts		(0.00	)		(0.00	)
Net Sales/Revenue		0.00			0.00

Cost of Goods Sold:
Beginning Inventory at cost Purchases		0.00			0.00
Less: Ending Inventory at cost		(0.00	)		(0.00	)
Cost of Goods Sold (COGS)		0.00			0.00

Gross Profit
Other Operating Income (Itemize)		0.00			0.00

Operating Expenses:
Payroll - Insiders		0.00			0.00
Payroll - Other Employees		30,715.34			322,522.74
Payroll Taxes		1,504.46			24,589.92
Other Taxes (Itemize)		0.00			0.00
Depreciation and Amortization		0.00			0.00
Lease Expense		6,440.56			64,405.60
Insurance		16,283.47			185,198.83
Telephone and Utilities		1,412.19			13,095.83
Repairs, Maintenance, Janitorial, Office, Plant Service		2,366.57			7,738.60
Travel and Entertainment (Itemize)
Mileage, Parking and Auto		230.20			2,825.09
Meals		16.49			836.97
Airfare		0.00			12,500.00
Miscellaneous Operating Expenses (Itemize)
Insurance – Employees		0.00			(137,423.64	)
Workers Compensation Insurance		919.24			4,648.50
Parking Services		850.00			5,800.00
Storage and Moving		194.20			8,529.40
Bank Service Charges		70.00			3,704.43
Payroll Fees		(310.12	)		1,797.13
Office Supplies		0.00			217.93
Postage and Shipping		109.82			641.15
Employee Expense		0.00			(58.05	)
Advertising		(2,200.00	)		(3,200.00	)
Taxes and Licenses		0.00			1,214.00
Fines, Penalties and Late Charges		0.00			2,815.63
Director Expense		0.00			5,000.00
US Trustee Fees		0.00			3,900.00
Total Operating Expenses		58,602.42			531,300.06

Net Gain/(Loss) from Operations		(58,602.42	)		(531,300.06	)

Non-Operating Income:
Interest on Cash Accounts		9,601.10			36,930.45
Gain (Loss) on Sale of Assets		(33,555.38	)		33,084.84
Prudential Stock Dividends		0.00			1,332.10
Mark to Market on CSV of Life Insurance Policies		0.00			158,385.18
Income taxes		0.00			2,703,141.71
Total Non-Operating income		(23,954.28	)		2,932,874.28

Non-Operating Expenses:
Interest Expense		0.00			0.00
Legal Expense		222,727.38			1,798,562.79
Audit and Accounting		69,058.08			373,346.10
Consulting		20,415.25			69,631.10
Other (Itemize)		0.00			(4,566.44	)
Total Non-Operating Expenses		312,200.71			2,236,973.55
NET INCOME/(LOSS)		(394,757.41	)		164,600.67
(Attach exhibit listing all itemizations required above)

X. BALANCE SHEET

(ACCRUAL BASIS ONLY)


	Current Month End
ASSETS
Current Assets:
Unrestricted Cash		11,937,791.51
Other (Itemize)
Security Deposit Held by Landlord		30,971.51
Money Market Accounts		0.00
Total Current Assets				11,968,763.02

Other Assets (Net of Amortization):
Due from Insiders		0.00
Other (Itemize)
Cash Improperly Withheld in former ICB account (City National Bank)		47,285.39
Residual Interest in Securities		322,386.96
Investment in ITLA Mortgage Loan Securitization 2002-1		75,000.00
Automobiles		24,275.00
Furniture and Equipment		0.00
Current and Deferred Income Taxes		29,297,406.00
Delaware Franchise Taxes		99,945.00
Prepaid Expenses, Net		54,498.58
Interests in Insurance Policies		441,240.00
Interest in Rabbi Trust Agreement		25,635.02
Other		49,028.35

Total Other Assets				30,436,700.30

TOTAL ASSETS				42,405,463.32

LIABILITIES
Postpetition Liabilities:
Accounts Payable		0.00
Taxes Payable		0.00
Professional fees		0.00
Secured Debt		0.00
Total Postpetition Liabilities				0.00

Prepetition Liabilities:
Secured Liabilities		0.00
Priority Liabilities		0.00
Unsecured Liabilities		100,077,633.73
Total Prepetition Liabilities				100,077,633.73
TOTAL LIABILITIES				100,077,633.73

EQUITY:
Prepetition Owners’ Equity		(57,741,774.08	)
Postpetition Profit/(Loss)		164,600.67
Direct Charges to Equity		(94,997.00	)
TOTAL EQUITY				(57,672,170.41	)
TOTAL LIABILITIES & EQUITY				42,405,463.32

XI. QUESTIONNAIRE


1.	Has the debtor-in-possession made any payments on its pre-petition unsecured debt, except as have been authorized by the court?
	X No.
	Yes. Explain &# 160;


2.	Has the debtor-in-possession during this reporting period provided compensation or remuneration to any officers, directors, principals, or other insiders without appropriate authorization?
	X No.
	Yes. Amount, to whom, and for what period? &# 160;


3.	State what progress was made during the reporting period toward filing a plan of reorganization:
	The Debtor filed for chapter 11 protection on December 18, 2009 just after the Federal Deposit Insurance Corporation (“FDIC”) seized its subsidiary, Imperial Capital Bank. The Debtor, its Board of Directors, and outside professionals are presently analyzing various restructuring options to determine the best return for the Debtor’s unsecured creditors. Given that the Debtor is a public company with substantial net operating losses, the Debtor may be able to implement a business restructuring, rather than a chapter 11 liquidation. On October 4, 2010, the Debtor filed a liquidating plan with the Court.

4.	Describe potential future developments which may have a significant impact on the case.
	The Debtor has filed two adversary proceedings against the FDIC, and has objected to the priority proof of claim asserted by the FDIC. The outcome of the Debtor/FDIC litigation will determine the amount available for distribution to creditors. As disclosed in the recently filed status conference report, the Official Committee of Unsecured Creditors and Debtor are formulating a potential settlement to present to the FDIC.




5.	Attach copies of all Orders granting relief from the automatic stay that were entered during the reporting period. NONE

6.	Did you receive any exempt income this month, which is not set forth in the operating report?
	X No.
	Yes. Please set forth the amounts and the source of the income.




I, Joseph W. Kiley, III, Chief Executive Officer, (Name and title), declare under penalty of perjury that I have fully read and understood the foregoing debtor-in-possession operating report and that the information contained herein is true and complete to the best of my knowledge.


Date:	November 19, 2010	/s/ Joseph W. Kiley
		Principal for debtor-in-possession

EX-99.3 4 ex99-3.htm EXHIBIT 99.3 ex99-3.htm

Exhibit 99.3

UNITED STATES DEPARTMENT OF JUSTICE

OFFICE OF THE UNITED STATES TRUSTEE

SOUTHERN DISTRICT OF CALIFORNIA

In Re:		CHAPTER 11 (BUSINESS)
		CASE NO. 3:09-bk-19431
IMPERIAL CAPITAL BANCORP, INC., a		OPERATING REPORT NO. 12
Delaware corporation		FOR THE MONTH ENDING:
		NOVEMBER 2010

Debtor(s).

I. CASH RECEIPTS AND DISBURSEMENTS

A.1 (BANK OF AMERICA GENERAL ACCOUNT)


1.	TOTAL RECEIPTS PER ALL PRIOR GENERAL ACCOUNT REPORTS				$	5,952,722.52

2.	LESS:	TOTAL DISBURSEMENTS PER ALL PRIOR GENERAL ACCOUNT REPORTS			$	5,952,722.52

3.	BEGINNING BALANCE:				$	0.00

4.	RECEIPTS DURING CURRENT PERIOD:

	ACCOUNTS RECEIVABLE - PRE-FILING		$	0.00
	ACCOUNTS RECEIVABLE - POST-FILING		$	0.00
	GENERAL SALES		$	0.00
	OTHER (SPECIFY) Payments on residual interests		$	0.00
	OTHER** (SPECIFY) Refunds		$	0.00

	TOTAL RECEIPTS THIS PERIOD:				$	0.00
5.	BALANCE:				$	0.00

6.	LESS: TOTAL DISBURSEMENTS DURING CURRENT PERIOD

	TRANSFERS TO OTHER DIP ACCOUNTS	$	0.00
	DISBURSEMENTS	$	0.00
	TOTAL DISBURSEMENTS THIS PERIOD***:			$	0.00

7.	ENDING BALANCE:			$	0.00

8.	GENERAL ACCOUNT NUMBER
	DEPOSITORY NAME AND LOCATION Bank of America, 1655 Grant Street Bldg A, 10th Floor, Concord, CA 94520-2445

TOTAL DISBURSEMENTS FROM GENERAL ACCOUNT FOR CURRENT PERIOD

DATE	CHECK NUMBER	PAYEE	PURPOSE		AMOUNT





















		TOTAL DISBURSEMENTS THIS PERIOD		$	0.00
Add additional pages as necessary to include all disbursements.

GENERAL ACCOUNT

BANK RECONCILIATION*


Balance per bank statement dated: 11/30/10		$	0.00

Plus deposits in transit (a):


	Deposit Date		Deposit Amount

			$
			$
			$

	Total deposits in transit

Less outstanding checks (a):


Check Number	Check Date	Check Amount

	Total outstanding checks	<	0.00>

Bank statement adjustments**

Adjusted bank balance		$	0.00


*	It is acceptable to attach lists of deposits in transit and outstanding checks to this form or to replace this form with a similar form.

**	Please attach a detailed explanation of any bank statement adjustment.

I. CASH RECEIPTS AND DISBURSEMENTS

A.2 (TORREY PINES ACCOUNT)


1.	TOTAL RECEIPTS PER ALL PRIOR GENERAL ACCOUNT REPORTS				$	5,987,238.21

2.	LESS:	TOTAL DISBURSEMENTS PER ALL PRIOR GENERAL ACCOUNT REPORTS			$	5,885,276.44

3.	BEGINNING BALANCE:				$	101,961.77

4.	RECEIPTS DURING CURRENT PERIOD:

	ACCOUNTS RECEIVABLE - PRE-FILING		$	0.00
	ACCOUNTS RECEIVABLE - POST-FILING		$	0.00
	GENERAL SALES		$	0.00
	OTHER (SPECIFY) Payments on residual interests		$	27,337.69
	OTHER (SPECIFY) Transfer from money market account		$	250,000.00

	TOTAL RECEIPTS THIS PERIOD:				$	277,337.69
5.	BALANCE:				$	379,299.46

6.	LESS: TOTAL DISBURSEMENTS DURING CURRENT PERIOD

	TRANSFERS TO OTHER DIP ACCOUNTS	$	31,891.86
	DISBURSEMENTS	$	228,053.02
	TOTAL DISBURSEMENTS THIS PERIOD***:			$	259,944.88

7.	ENDING BALANCE:			$	119,354.58

8.	GENERAL ACCOUNT NUMBER ___________________________
	DEPOSITORY NAME AND LOCATION Torrey Pines Bank, 4350 Executive Drive, Suite 130, San Diego, CA 92121________________________________

TOTAL DISBURSEMENTS FROM GENERAL ACCOUNT FOR CURRENT PERIOD

DATE	CHECK NUMBER	PAYEE	PURPOSE		AMOUNT
11/01/10	1081	Mellon Investor Services	Stock transfer agent		3,015.55
11/03/10	1086	Ace Parking Management	Parking services		500.00
11/05/10	1087	888 Prospect LJ, LLC	Office rent		3,205.13
11/10/10	1088	Ernst & Young	Auditing services		82,341.60
11/15/10	1089	FTI Consulting	Auditing services		67,051.32
11/16/10	1090	Public Storage	Storage services		194.20
11/15/10	1091	Freedom Voice	Telephone services		171.87
11/12/10	1092	A Quality Connection	Telephone maintenance		168.75
11/15/10	1093	Verizon Wireless	Telephone services		190.68
11/15/10	1095	Time Warner Cable	Internet services		186.39
11/16/10	1096	UPS	Postage		82.91
11/22/10	1097	Postmaster	Postage		55.00
1/126/10	1098	Mass Mutual	Retirement plan expense		8.34
11/23/10	1099	Boyer Moving & Storage	Office relocation		1,775.00
11/22/10	1100	Takeo Sasaki	Consulting – accounting services		1,761.00
11/29/10	1101	U.S. Trustee	Quarterly trustee fee		4,875.00
11/24/10	1103	Coffee Ambassador	Office expense		71.89
11/29/10	1105	Melanie O’Donnell	Expense reimbursement		56.67
11/29/10	1108	Mary Jane Mulson	Janitorial services		160.00
11/08/10	Bank Debit	Akin Gump Strauss Hauer & Feld	Wire transfer for legal fees		62,141.72
11/08/10	Bank Debit	Torrey Pines Bank	Wire transfer fee		30.00
11/26/10	Bank Debit	Torrey Pines Bank	Wire transfer fee		10.00

		TOTAL DISBURSEMENTS THIS PERIOD		$	228,053.02

Add additional pages as necessary to include all disbursements.

GENERAL ACCOUNT

BANK RECONCILIATION*


Balance per bank statement dated: 11/30/10		$	119,354.58

Plus deposits in transit (a):


	Deposit Date		Deposit Amount

			$
			$
			$

	Total deposits in transit

Less outstanding checks (a):


Check Number	Check Date	Check Amount

1094	10/18/10	125.20
1102	10/29/10	459.62
1106	11/23/10	260.00
1107	11/23/10	131.60
1104	11/23/10	115.90
1111	11/30/10	5,205.13
1109	11/30/10	350.00
1110	11/30/10	224.32
1112	11/30/10	194.20
1113	11/30/10	72.50
1114	11/30/10	17.90

	Total outstanding checks	<	7,156.37>

Bank statement adjustments**

Adjusted bank balance		$	112,198.21

*	It is acceptable to attach lists of deposits in transit and outstanding checks to this form or to replace this form with a similar form.

**	Please attach a detailed explanation of any bank statement adjustment.

I. CASH RECEIPTS AND DISBURSEMENTS (Continued)

B.1 (BANK OF AMERICA PAYROLL ACCOUNT)

1.	TOTAL RECEIPTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS	$	117,770.84

2.	LESS: TOTAL DISBURSEMENTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS	$	117,770.84

3.	BEGINNING BALANCE	$	0.00

4.	RECEIPTS:
	TRANSFERRED FROM OTHER ACCOUNT	$	0.00

5.	BALANCE	$	0.00

6.	LESS: DISBURSEMENTS DURING CURRENT PERIOD


DATE	CHECK NO.	PAYEE	AMOUNT


	TOTAL DISBURSEMENTS THIS PERIOD:	$	0.00

7.	ENDING BALANCE:	$	0.00

8.	PAYROLL ACCOUNT NUMBER _________________________________
	DEPOSITORY NAME AND LOCATION Bank of America, 1655 Grant Street Bldg A, 10th Floor, Concord, California 94500 2455

PAYROLL ACCOUNT
BANK RECONCILIATION*


Balance per bank statement dated: 11/30/10		$	0.00

Plus deposits in transit (a):


Deposit Date	Deposit Amount

	$
	$
	$

Total deposits in transit		0.00

Less outstanding checks (a):


Check Number	Check Date	Check Amount

	Total outstanding checks	<	0.00>

Bank statement adjustments**

Adjusted bank balance		$	0.00

I. CASH RECEIPTS AND DISBURSEMENTS (Continued)

B.2 (TORREY PINES PAYROLL ACCOUNT)

1.	TOTAL RECEIPTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS	$	230,567.98

2.	LESS: TOTAL DISBURSEMENTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS	$	230,171.52

3.	BEGINNING BALANCE	$	396.46

4.	RECEIPTS:
	TRANSFERRED FROM OTHER ACCOUNT
	(Torrey Pines Bank general account)	$	31,891.86

5.	BALANCE	$	32,288.32

6.	LESS: DISBURSEMENTS DURING CURRENT PERIOD


DATE	CHECK NO.	PAYEE	AMOUNT
11/12/10	Payroll fee	NPS Payroll Services	64.00
11/12/10	Transfer payroll 11/1 to 11/15	NPS Payroll Services	4,528.81
11/12/10	Transfer payroll 11/1 to 11/15	NPS Payroll Services	11,435.15
11/29/10	Payroll fee	NPS Payroll Services	64.00
11/29/10	Transfer payroll 11/16 to 11/30	NPS Payroll Services	4,200.69
11/29/10	Transfer payroll 11/16 to 11/30	NPS Payroll Services	11,599.21


		TOTAL DISBURSEMENTS THIS PERIOD:	$	31,891.86

7.	ENDING BALANCE:		$	396.46

8.	PAYROLL ACCOUNT NUMBER _________________________________
	DEPOSITORY NAME AND LOCATION Torrey Pines Bank, 4350 Executive Drive, Suite 130, San Diego, CA 92121

PAYROLL ACCOUNT

BANK RECONCILIATION*


Balance per bank statement dated: 11/30/10		$	396.46

Plus deposits in transit (a):


Deposit Date	Deposit Amount

	$
	$
	$

Total deposits in transit		0.00

Less outstanding checks (a):


Check Number	Check Date	Check Amount

	Total outstanding checks	<	0.00>

Bank statement adjustments**

Adjusted bank balance		$	396.46

*	It is acceptable to attach lists of deposits in transit and outstanding checks to this form or to replace this form with a similar form.

**	Please attach a detailed explanation of any bank statement adjustment.

I. CASH RECEIPTS AND DISBURSEMENTS (Continued)

C. (TAX ACCOUNT)

1.	TOTAL RECEIPTS PER ALL PRIOR TAX ACCOUNT REPORTS	$	0.00

2.	LESS: TOTAL DISBURSEMENTS PER ALL PRIOR TAX ACCOUNT REPORTS	$	0.00

3.	BEGINNING BALANCE	$	0.00

4.	RECEIPTS:
	TRANSFERRED FROM GENERAL ACCOUNT	$	0.00

5.	BALANCE	$	0.00

6.	LESS: DISBURSEMENTS DURING CURRENT PERIOD


DATE	CHECK NO.	PAYEE	AMOUNT


		TOTAL DISBURSEMENTS THIS PERIOD:	$	0.00

7.	ENDING BALANCE:		$	0.00

8.	TAX ACCOUNT NUMBER _________________________________
	DEPOSITORY NAME AND LOCATION Bank of America, 1655 Grant St, Bldg A, 10th Floor Concord, CA 94520-2445 0;

TAX ACCOUNT
BANK RECONCILIATION*


Balance per bank statement dated: ____________________		$	0.00

Plus deposits in transit (a):


	Deposit Date		Deposit Amount

			$

Total deposits in transit

0.00

Less outstanding checks (a):


Check Number	Check Date	Check Amount

Total outstanding checks	<	0.00>

Bank statement adjustments**

Adjusted bank balance	$	0.00

D. SUMMARY SCHEDULE OF CASH


ENDING BALANCE FOR PERIOD:
GENERAL ACCOUNT – Bk of America	$	0.00
GENERAL ACCOUNT – Torrey Pines Bk	$	119,354.58
PAYROLL ACCOUNT – Bk of America	$	0.00
PAYROLL ACCOUNT – Torrey Pines Bk	$	396.46
TAX ACCOUNT	$	0.00
OTHER ACCOUNTS*:
Torrey Pines Bank
4350 Executive Drive, Suite 130
San Diego, CA 92121
Money Market Account #	$	4,209,815.28

Torrey Pines Bank
4350 Executive Drive, Suite 130
San Diego, CA 92121
Rabbi Trust Assets
Money Market Account #	$	6,882,128.88

OTHER MONIES*:_______________	$
PETTY CASH**	$	250.00

TOTAL CASH AVAILABLE	$	11,211,945.20

NOTE: Attach copies of monthly accounts statements from financial institutions for each account.

II. STATUS OF PAYMENTS TO SECURED CREDITORS, LESSORS,

AND OTHER PARTIES TO EXECUTORY CONTRACTS

CREDITOR,

LESSOR, ETC.

FREQUENCY OF

PAYMENTS

(Mo./Qtr.)

AMOUNT OF

PAYMENT

POST-PETITION

PAYMENTS

NOT MADE

(NUMBER)

TOTAL DUE

888 Prospect LJ, LLC

Monthly

5,205.13

None

TOTAL DUE

None

III. TAX LIABILITIES


FOR THE REPORTING PERIOD:
GROSS SALES SUBJECT TO SALES TAX	$	0
TOTAL WAGES PAID	$	30,715.34

	TOTAL POST- PETITION AMOUNTS OWING		AMOUNT DELINQUENT		DATE DELINQUENT AMOUNT DUE
FEDERAL WITHHOLDING	$	0.00	$	0.00
STATE WITHHOLDING	$		$
FICA - EMPLOYER’S SHARE	$		$
FICA - EMPLOYEE’S SHARE	$		$
FEDERAL UNEMPLOYMENT	$		$
STATE WITHHOLDING	$		$
SALES AND USE	$		$
REAL PROPERTY	$		$
OTHER: (SPECIFY)	$		$
TOTAL:	$		$

IV. AGING OF ACCOUNTS PAYABLE AND ACCOUNTS RECEIVABLE

ACCOUNTS PAYABLE*

(POST-PETITION ONLY)

ACCOUNTS

Pre-Petition

RECEIVABLE

Post-Petition

30 days or less

None

31 - 60 days

61 - 90 days

91 - 120 days

Over 120 days

TOTALS:

V. INSURANCE COVERAGE

NAME OF

CARRIER

AMOUNT OF

COVERAGE

POLICY

EXPIRATION

DATE

PREMIUM PAID

THROUGH:

General Liability

Hartford

$1,000,000/occurrence

3/15/11

Worker Compensation

State Fund

$1,000,000/occurrence

2/15/11

December 2010

Vehicle

Hartford

$1,000,000/occurrence

3/15/11

VI. UNITED STATES TRUSTEE QUARTERLY FEES

(TOTAL PAYMENTS)


Qtrly Period Ending	Total Disbursements		Qtrly Fees		Date Paid	Amount Paid		Qtrly Fee Still Owing
12/31/09	$	3,100.00	$	325.00	1/29/10	$	325.00	$	0.00
3/31/10	$	165,607.22	$	1,625.00	4/7/10, 5/13/10	$ $	325.00, 1,300.00	$	0.00
6/30/10	$	260,256.53	$	1,950.00	8/17/10	$	1,950.00	$	0.00
9/30/10	$	708,521.61	$	4,875.00	11/19/10	$	4,875.00	$	0.00

VII. SCHEDULE OF COMPENSATION PAID TO INSIDERS

Name of Insider

Date of Order

Authorizing

Compensation

Authorized Gross

Compensation*

Gross Compensation

Paid During the Month

Joseph W. Kiley, III

3/11/10

$10,000/month

10,000.00

Anthony Rusnak

3/11/10

$148,000/year plus additional amount in insider compensation request

12,333.34

* Please indicate how compensation was identified in the order (e.g., $1,000/wk, $2,500/mo)

VIII. SCHEDULE OF OTHER AMOUNTS PAID TO INSIDERS


Name of Insider	Date of Order Authorizing Payment	Description	Amount Paid During the Month
None

IX. PROFIT AND LOSS STATEMENT

(ACCRUAL BASIS ONLY)


	Current Month			Cumulative Post-Petition
Sales/Revenue:
Gross Sales/Revenue		0.00			0.00
Less: Returns/Discounts		(0.00	)		(0.00	)
Net Sales/Revenue		0.00			0.00

Cost of Goods Sold:
Beginning Inventory at cost Purchases		0.00			0.00
Less: Ending Inventory at cost		(0.00	)		(0.00	)
Cost of Goods Sold (COGS)		0.00			0.00

Gross Profit
Other Operating Income (Itemize)		0.00			0.00

Operating Expenses:
Payroll - Insiders		0.00			0.00
Payroll - Other Employees		30,715.34			353,238.08
Payroll Taxes		1,048.52			25,638.44
Other Taxes (Itemize)		0.00			0.00
Depreciation and Amortization		0.00			0.00
Lease Expense		8,410.26			72,815.86
Insurance		0.00			185,198.83
Telephone and Utilities		773.26			13,869.09
Repairs, Maintenance, Janitorial, Office, Plant Service		522.43			8,261.03
Travel and Entertainment (Itemize)
Mileage, Parking and Auto		86.79			2,911.88
Meals		11.00			847.97
Airfare		0.00			12,500.00
Miscellaneous Operating Expenses (Itemize)
Insurance – Employees		125.20			(137,298.44	)
Workers Compensation Insurance		459.62			5,108.12
Parking Services		350.00			6,150.00
Storage and Moving		2,163.40			10,692.80
Bank Service Charges		50.00			3,754.43
Payroll Fees		128.00			1,925.13
Office Supplies		0.00			217.93
Postage and Shipping		312.90			954.05
Dues and Subscriptions		260.00			260.00
Employee Expense		0.00			(58.05	)
Advertising		0.00			(3,200.00	)
Taxes and Licenses		0.00			1,214.00
Fines, Penalties and Late Charges		0.00			2,815.63
Director Expense		0.00			5,000.00
US Trustee Fees		4,875.00			8,775.00
Total Operating Expenses		50,291.72			581,591.78

Net Gain/(Loss) from Operations		(50,291.72	)		(581,591.78	)

Non-Operating Income:
Interest on Cash Accounts		9,204.42			46,134.87
Gain (Loss) on Sale of Assets		0.00			33,084.84
Prudential Stock Dividends		0.00			1,332.10
Mark to Market on CSV of Life Insurance Policies		0.00			158,385.18
Income taxes		0.00			2,703,141.71
Total Non-Operating income		9,204.42			2,942,078.70

Non-Operating Expenses:
Interest Expense		0.00			0.00
Legal Expense		159,164.27			1,957,727.06
Audit and Accounting		54,700.00			428,046.10
Consulting		1,769.34			71,400.44
Other (Itemize)		(0.01	)		(4,566.45	)
Total Non-Operating Expenses		215,633.60			2,452,607.15
NET INCOME/(LOSS)		(256,720.90	)		(92,120.23	)

(Attach exhibit listing all itemizations required above)

X. BALANCE SHEET

(ACCRUAL BASIS ONLY)


	Current Month End
ASSETS
Current Assets:
Unrestricted Cash		11,204,788.83
Security Deposit Held by Landlord		30,971.51
Total Current Assets				11,235,760.34

Other Assets (Net of Amortization):
Due from Insiders		0.00
Other (Itemize)
Cash Improperly Withheld in former ICB account (City National Bank)		47,285.39
Residual Interest in Securities		295,049.27
Investment in ITLA Mortgage Loan Securitization 2002-1		75,000.00
Automobiles		24,275.00
Current and Deferred Income Taxes		29,297,406.00
Delaware Franchise Taxes		99,945.00
Prepaid Expenses, Net		51,957.36
Interests in Insurance Policies		441,240.00
Interest in Rabbi Trust Agreement		0.00
Other		49,028.16
Total Other Assets				30,381,186.18

TOTAL ASSETS				41,616,946.52

LIABILITIES
Postpetition Liabilities:
Accounts Payable		0.00
Taxes Payable		0.00
Professional fees		0.00
Secured Debt		0.00
Total Postpetition Liabilities				0.00

Prepetition Liabilities:
Secured Liabilities		0.00
Priority Liabilities		0.00
Unsecured Liabilities		99,545,837.83
Total Prepetition Liabilities				99,545,837.83
TOTAL LIABILITIES				99,545,837.83

EQUITY:
Prepetition Owners’ Equity		(57,741,774.08	)
Postpetition Profit/(Loss)		(92,120.23	)
Direct Charges to Equity		(94,997.00	)
TOTAL EQUITY				(57,928,891.31	)
TOTAL LIABILITIES & EQUITY				41,616,946.52

XI. QUESTIONNAIRE


1.	Has the debtor-in-possession made any payments on its pre-petition unsecured debt, except as have been authorized by the court?
	X No.
	Yes. Explain 60;


2.	Has the debtor-in-possession during this reporting period provided compensation or remuneration to any officers, directors, principals, or other insiders without appropriate authorization?
	X No.
	Yes. Amount, to whom, and for what period? 60;


3.	State what progress was made during the reporting period toward filing a plan of reorganization:
	The Debtor filed for chapter 11 protection on December 18, 2009 just after the Federal Deposit Insurance Corporation (“FDIC”) seized its subsidiary, Imperial Capital Bank. The Debtor, its Board of Directors, and outside professionals are presently analyzing various restructuring options to determine the best return for the Debtor’s unsecured creditors. Given that the Debtor is a public company with substantial net operating losses, the Debtor may be able to implement a business restructuring, rather than a chapter 11 liquidation. On October 4, 2010, the Debtor filed a liquidating plan with the Court.

4.	Describe potential future developments which may have a significant impact on the case.
	The Debtor has filed two adversary proceedings against the FDIC, and has objected to the priority proof of claim asserted by the FDIC. The outcome of the Debtor/FDIC litigation will determine the amount available for distribution to creditors. The Debtor and Official Committee of Unsecured Creditors have made a settlement proposal to the FDIC. 0;




5.	Attach copies of all Orders granting relief from the automatic stay that were entered during the reporting period. NONE

6.	Did you receive any exempt income this month, which is not set forth in the operating report?
	X No.
	Yes. Please set forth the amounts and the source of the income.




I, Joseph W. Kiley, III, Chief Executive Officer, (Name and title), declare under penalty of perjury that I have fully read and understood the foregoing debtor-in-possession operating report and that the information contained herein is true and complete to the best of my knowledge.

Date:	December 20, 2010		/s/ Joseph W. Kiley
			Principal for debtor-in-possession