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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 LEGv3pPs5UDpjmd/cpQZw3FyJz7VpCsSEoUp7fEIJavm+kmEZdPMMf7nvbXu/Uhw
 RUZpRVemCxTbq5Ga/hud6g==

<SEC-DOCUMENT>0001181431-03-022846.txt : 20030911
<SEC-HEADER>0001181431-03-022846.hdr.sgml : 20030911
<ACCEPTANCE-DATETIME>20030911153326
ACCESSION NUMBER:		0001181431-03-022846
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030911
FILED AS OF DATE:		20030911

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			STURM PAUL J
		CENTRAL INDEX KEY:			0001254918

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16339
		FILM NUMBER:		03891945

	BUSINESS ADDRESS:	
		STREET 1:		P.O. BOX 9
		CITY:			STURGEON BAY
		STATE:			WI
		ZIP:			54235

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BAYLAKE CORP
		CENTRAL INDEX KEY:			0000275119
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				391268055
		STATE OF INCORPORATION:			WI
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		217 N FOURTH AVE
		STREET 2:		PO BOX 9
		CITY:			STURGEON BAY
		STATE:			WI
		ZIP:			54235-0009
		BUSINESS PHONE:		9207435551
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd18326.xml
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType><periodOfReport>2003-09-11</periodOfReport><notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000275119</issuerCik>
        <issuerName>BAYLAKE CORP</issuerName>
        <issuerTradingSymbol>bylk.ob</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001254918</rptOwnerCik>
            <rptOwnerName>STURM PAUL J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>217 NORTH FOURTH AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>P.O. BOX 9</rptOwnerStreet2>
            <rptOwnerCity>STURGEON BAY</rptOwnerCity>
            <rptOwnerState>WI</rptOwnerState>
            <rptOwnerZipCode>54235</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther></reportingOwnerRelationship></reportingOwner><nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Common Stock, $5 par value</value></securityTitle><transactionDate><value>2003-09-09</value></transactionDate><deemedExecutionDate><value>2003-09-09</value></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>P</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>500</value></transactionShares><transactionPricePerShare><value>13.50</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>20000</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOr
IndirectOwnership></ownershipNature></nonDerivativeTransaction></nonDerivativeTable><ownerSignature><signatureName>Steven D. Jennerjohn</signatureName><signatureDate>2003-09-11</signatureDate></ownerSignature></ownershipDocument>



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