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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,
 QUD8AtmCb7eF1MgqtwGvCCDQiF3WPJT3UekmGVpBLhTxft3bBTvjQwBgCjlFoK4T
 qcykGbyZ27qBSecHP0rMlQ==

<SEC-DOCUMENT>0001181431-03-018509.txt : 20030813
<SEC-HEADER>0001181431-03-018509.hdr.sgml : 20030813
<ACCEPTANCE-DATETIME>20030813130158
ACCESSION NUMBER:		0001181431-03-018509
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030813
FILED AS OF DATE:		20030813

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HAUSER JOHN A
		CENTRAL INDEX KEY:			0001255079

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16339
		FILM NUMBER:		03839993

	MAIL ADDRESS:	
		STREET 1:		P O BOX 9
		CITY:			STURGEON BAY
		STATE:			WI
		ZIP:			54235-0009

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>rrd15953.xml
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType><periodOfReport>2003-08-13</periodOfReport><notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000275119</issuerCik>
        <issuerName>BAYLAKE CORP</issuerName>
        <issuerTradingSymbol>bylk.ob</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001255079</rptOwnerCik>
            <rptOwnerName>HAUSER JOHN A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>P.O. BOX 9</rptOwnerStreet1>
            <rptOwnerStreet2>217 NORTH FOURTH AVENUE</rptOwnerStreet2>
            <rptOwnerCity>STURGEON BAY</rptOwnerCity>
            <rptOwnerState>WI</rptOwnerState>
            <rptOwnerZipCode>54235</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>0</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle>Senior Vice President</officerTitle></reportingOwnerRelationship></reportingOwner><nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Common Stock, $5 par value</value></securityTitle><transactionDate><value>2003-08-12</value></transactionDate><deemedExecutionDate><value>2003-08-12</value></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>2800</value></transactionShares><transactionPricePerShare><value>9.50</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>3330.9221</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature
><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction><nonDerivativeTransaction><securityTitle><value>Common Stock, $5 par value</value></securityTitle><transactionDate><value>2003-08-12</value></transactionDate><deemedExecutionDate><value>2003-08-12</value></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>S</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>2800</value></transactionShares><transactionPricePerShare><value>14.10</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>530.9221</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTran
saction></nonDerivativeTable><derivativeTable><derivativeTransaction><securityTitle><value>Option to purchase</value></securityTitle><conversionOrExercisePrice><value>9.50</value></conversionOrExercisePrice><transactionDate><value>2003-08-12</value></transactionDate><deemedExecutionDate><value>2003-08-12</value></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>A</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>2800</value></transactionShares><transactionPricePerShare><value>9.50</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>1995-01-03</value></exerciseDate><expirationDate><value>2004-01-03</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>2800</value></underlyingSecuri
tyShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>61134</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeTransaction></derivativeTable><ownerSignature><signatureName>Steven D. Jennerjohn</signatureName><signatureDate>2003-08-13</signatureDate></ownerSignature></ownershipDocument>



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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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