8-K

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): April 18, 2006

000-24478
(Commission File No.) 38-3073622
(IRS Employer Identification No.)

DEARBORN BANCORP, INC.

(Exact name of registrant as specified in its charter)

1360 Porter Street, Dearborn, MI
(Address of Principal Executive Offices)

48124
(Zip Code)

(313) 565-5700

(Registrant’s Telephone Number, Including Area Code)

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))

TABLE OF CONTENTS

Press Release dated April 18, 2006

Item 2.02. Results of Operations and Financial Condition

On April 18, 2006, the Registrant issued a news release announcing its 2006 first quarter earnings. A copy of the news release, including unaudited financial information released as a part thereof, is attached as Exhibit 99.

The information in this Form 8-K and the attached Exhibit shall not be deemed filed for purposes of Section 18 of the Securities Act of 1934, nor shall it be deemed incorporated by reference in any such filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits

(c) Exhibits

99 Registrant’s April 18, 2006 News Release announcing its 2006 first quarter earnings

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 thereunto duly authorized.

Dearborn Bancorp, Inc.
(Registrant)

/s/ Jeffrey L. Karafa

Jeffrey L. Karafa

Treasurer and Chief Financial Officer

Date: April 18, 2006

EXHIBIT INDEX

Exhibit No.	Description
Exhibit 99	Press Release dated April 18, 2006.

EX-99

Exhibit 99

DEARBORN BANCORP REPORTS RECORD
FIRST QUARTER EARNINGS.

     DEARBORN, Michigan, April 18, 2006 ... Dearborn Bancorp, Inc. (Nasdaq: DEAR), the Holding Company for Community Bank of Dearborn, today reported earnings of $1,946,000 or $0.34 per fully diluted common share for the three months ended March 31, 2006. This was a new record for First Quarter earnings and 10.3 percent more than the Company’s earnings for the same quarter in 2005 of $1,765,000 or $0.31 per diluted share.

     During the 12 months prior to the end of the First Quarter, the Company’s total assets increased 11.8 percent to $757,159,000, total deposits grew 15.4 percent to $632,237,000 and total loans went up 10.4 percent to $676,233,000. The returns on average total assets and average stockholders’ equity were 1.08 percent and 9.08 percent, respectively.

     Reflecting the quality of the Company’s loan portfolio, non-performing loans were just 0.18 percent of total loans and net charge-offs to loans were 0.0 percent during the first quarter of 2006.

     Michael J. Ross, President and Chief Executive Officer of both the Holding Company and Community Bank, issued his organization’s earnings report and added, “We are pleased with our performance during the last three months with substantial increases in all of our key balance sheet numbers. Our growth shows that our marketing efforts have been effective. The condition of our loan portfolio indicates that we have not compromised our credit standards and our earnings make it clear that we are managing both interest margin and overhead expenses.”

     Dearborn Bancorp, Inc., is a registered bank holding company. Its sole subsidiary is Community Bank of Dearborn. The Bank operates twelve offices in Wayne, Oakland, Macomb and Washtenaw Counties in the State of Michigan. The Company’s common shares trade on the Nasdaq National Market under the symbol DEAR.

Contact Michael J. Ross, President and CEO or Jeffrey L. Karafa, CFO at (313) 565-5700.

Forward-Looking Statements

This press release contains forward-looking statements that are based on management’s beliefs, assumptions, current expectations, estimates and projections about the financial services industry, the economy and about the Corporation and the Bank. 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. Therefore, actual results and outcomes may materially differ from what may be expressed or forecasted in such forward-looking statements. The Corporation 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; and changes in the national and local economy. These are representative of the Future Factors and could cause a difference between and ultimate actual outcome and a preceding forward-looking statement.

DEARBORN BANCORP, INC.

	Quarter			Quarter
	Ended			Ended
	March 31			March 31
(In thousands, except share data)	2006			2005
Condensed Statement of Income:
Interest income	$	12,244		$	9,892
Interest expense		5,388			3,312
Net interest income		6,856			6,580
Provision for loan losses		157			464
Net interest income after provision		6,699			6,116
Non-interest income		208			401
Non-interest expense		3,958			3,843
Income before taxes		2,949			2,674
Income tax provision		1,003			909
Net income	$	1,946		$	1,765
Share Data:
Weighted avg no. of shares outstanding — basic		5,426,236			5,303,532
Weighted avg no. of shares outstanding — diluted		5,717,721			5,680,575
Period end shares outstanding		5,445,753			5,326,090
Per Common Share Data:
Net income, basic	$	0.36		$	0.33
Net income, diluted	$	0.34		$	0.31
Closing Stock Price	$	22.50		$	24.04
Book Value	$	15.86		$	14.45
Profitability Ratios, Annualized:
Return on average stockholders’ equity		9.08	%		9.28	%
Return on average total assets		1.08	%		1.06	%
Average equity to average total assets		11.87	%		11.43	%

	March 31			December 31			March 31
	2006			2005			2005
Condensed Balance Sheet:
Assets
Cash and equivalents	$	48,070		$	9,455		$	18,559
Mortgage loans held for sale		545			1,041			4,458
Investment securities, available for sale		12,736			18,446			20,786
Loans		676,233			657,037			612,472
Allowance for loan losses		(6,965	)		(6,808	)		(6,288	)
Premises and equipment		13,663			13,792			14,017
Goodwill and intangible assets		7,702			7,764			7,905
Other assets		5,175			5,770			5,128
Total assets	$	757,159		$	706,497		$	677,037
Liabilities and stockholders’ equity
Deposits	$	632,237		$	582,438		$	547,807
Federal Home Loan Bank advances		25,588			25,588			20,614
Federal funds purchased		—			—			16,060
Securities sold under agreement to repurchase		457			1,615			3,083
Other liabilities		2,508			2,643			2,526
Subordinated debentures		10,000			10,000			10,000
Stockholders’ equity		86,369			84,213			76,947
Total liabilities and stockholders’ equity	$	757,159		$	706,497		$	677,037
Other Data:
Non-performing loans to total loans		0.18	%		0.18	%		0.31	%
Net charge-offs to average loans		0.00	%		0.02	%		0.01	%
Net interest margin for the quarter		4.02	%		4.11	%		4.21	%
Net interest margin for the year		4.02	%		4.14	%		4.21	%