Borrowed Funds And Debt Obligations	9 Months Ended
Sep. 30, 2011
Borrowed Funds And Debt Obligations [Abstract]
Borrowed Funds And Debt Obligations	Note 8. Borrowed Funds and Debt Obligations As of September 30, 2011, the Company has $10.3 million outstanding per a loan agreement dated March 31, 2008. This original agreement was entered into with Bank of America and consisted of three credit facilities: a secured revolving line of credit, a secured term facility, and a subordinated debt. In February 2009, the loan agreement on the revolving line of credit was amended resulting in an aggregate principal amount of $20.3 million. The first credit facility consisted of a $10.0 million secured revolving line of credit which matured on June 30, 2009 and was not renewed by Bank of America. The second credit facility consists of a $0.3 million secured term facility, which will mature in March 31, 2015. The third credit facility consists of $10.0 million in subordinated debt, which also matures in March 31, 2015. On December 14, 2009, Bank of America transferred to Cole Taylor Bank all rights, title, interest in to and under the loan agreements dated March 31, 2008. Repayment of each of the remaining two credit facilities is interest only on a quarterly basis, with the principal amount of the loan due at maturity. The term credit facility is secured by a pledge of the stock of the Bank. The subordinated debt credit facility is unsecured and is intended to qualify as Tier II capital for regulatory purposes. However, the amount included in Tier II capital has been reduced by 40% as of September 30, 2011 due to a sub-debt phase-out provision and will be further reduced by 20% in each of the next three years. The outstanding balance of the debt agreements was $10.3 million as of September 30, 2011 and December 31, 2010. The Company requires regulatory approval in order to make the quarterly interest payments under our debt agreements as described in Note 13. On March 7, 2011, the Company entered into an amendment with the lender, which modified the covenant relating to capitalization at the parent and bank level so that the Company returned to full compliance with the terms of its credit agreement. The amendment contains customary covenants, including but not limited to, the Company and the Bank's maintenance of its status as adequately capitalized and the Bank's minimum allowance for loan losses to total loans of 3.00%. The Company was in compliance with all covenants, with the exception of the tier 1 leverage ratio, and all payments remain current at September 30, 2011. A covenant waiver was received from the lender as of September 30, 2011, and all other terms and covenants in the loan agreement will remain unchanged. Additionally, the Company has a note outstanding to an individual with an imputed interest rate of 5.25% maturing October 24, 2012 from a prior acquisition. The balance as of September 30, 2011 and December 31, 2010 was $0.3 million and $0.4 million, respectively.

Borrowed Funds And Debt Obligations

9 Months Ended

Sep. 30, 2011

Borrowed Funds And Debt Obligations [Abstract]

Note 8. Borrowed Funds and Debt Obligations

As of September 30, 2011, the Company has $10.3 million outstanding per a loan agreement dated March 31, 2008. This original agreement was entered into with Bank of America and consisted of three credit facilities: a secured revolving line of credit, a secured term facility, and a subordinated debt. In February 2009, the loan agreement on the revolving line of credit was amended resulting in an aggregate principal amount of $20.3 million. The first credit facility consisted of a $10.0 million secured revolving line of credit which matured on June 30, 2009 and was not renewed by Bank of America. The second credit facility consists of a $0.3 million secured term facility, which will mature in March 31, 2015. The third credit facility consists of $10.0 million in subordinated debt, which also matures in March 31, 2015. On December 14, 2009, Bank of America transferred to Cole Taylor Bank all rights, title, interest in to and under the loan agreements dated March 31, 2008. Repayment of each of the remaining two credit facilities is interest only on a quarterly basis, with the principal amount of the loan due at maturity. The term credit facility is secured by a pledge of the stock of the Bank. The subordinated debt credit facility is unsecured and is intended to qualify as Tier II capital for regulatory purposes. However, the amount included in Tier II capital has been reduced by 40% as of September 30, 2011 due to a sub-debt phase-out provision and will be further reduced by 20% in each of the next three years. The outstanding balance of the debt agreements was $10.3 million as of September 30, 2011 and December 31, 2010. The Company requires regulatory approval in order to make the quarterly interest payments under our debt agreements as described in Note 13.

On March 7, 2011, the Company entered into an amendment with the lender, which modified the covenant relating to capitalization at the parent and bank level so that the Company returned to full compliance with the terms of its credit agreement. The amendment contains customary covenants, including but not limited to, the Company and the Bank's maintenance of its status as adequately capitalized and the Bank's minimum allowance for loan losses to total loans of 3.00%. The Company was in compliance with all covenants, with

the exception of the tier 1 leverage ratio, and all payments remain current at September 30, 2011. A covenant waiver was received from the lender as of September 30, 2011, and all other terms and covenants in the loan agreement will remain unchanged.

Additionally, the Company has a note outstanding to an individual with an imputed interest rate of 5.25% maturing October 24, 2012 from a prior acquisition. The balance as of September 30, 2011 and December 31, 2010 was $0.3 million and $0.4 million, respectively.