X0303 4 2010-08-23 0 0001072847 TOWER FINANCIAL CORP TOFC 0001195961 RUFFOLO JOSEPH D 2820 CHICHESTER LANE FORT WAYNE IN 46815 1 0 0 0 Common Stock 2010-08-23 4 P 0 15748 6.35 A 16748 I Spouse Common Stock 15035 I Joseph D Ruffolo Revocable Trust Common Stock 19035 D Common Stock 100 I Children Series A Convertible Preferred Stock 6.02 2009-09-25 Common Stock 12459 750 D Series A Convertible Preferred Stock 6.02 2009-09-25 Common Stock 12458 750 I Spouse Shares of common stock purchased in connection with the Issuer's July 2010 private placement transaction, in accordance with the Subscription Agreement, dated July 19, 2010, between the Issuer and the Reporting Person. The proceeds of such transaction were held in escrow pending approval from the Federal Reserve Bank. Such approval was received and the funds were released. The Series A preferred stock has no expiration date; however, Tower Financial Corp has the right to call the shares on or after September 25, 2012 and until September 24, 2013 at 110% of par, after September 25, 2013 and until September 24, 2014 at 105% of par, and at par after September 25, 2014. Joseph D. Ruffolo 2010-08-25