Exhibit 21

SUBSIDIARIES OF CIB MARINE BANCSHARES, INC.

DIRECT SUBSIDIARIES	INDIRECT SUBSIDIARIES	STATE/JURISDICTION OF INCORPORATION
CIB MARINE BANCSHARES, INC.		Wisconsin Corporation
CIBM Bank		Illinois Commercial Bank
	Marine Investment Corporation	Nevada Subsidiary
CIB Construction, LLC		Illinois Limited Liability Company
	Canron Corporation (1)	Michigan Corporation
CIB Marine Capital Trust I (3)		Delaware Business Trust
CIB Statutory Trust III (3)		Connecticut Statutory Trust
CIB Statutory Trust IV (3)		Connecticut Statutory Trust
CIB Statutory Trust V (3)		Delaware Business Trust
CIB Marine Capital, LLC(2)		Wisconsin Limited Liability Company

(1) CIB Construction owns 84% of the outstanding stock of Canron which filed for dissolution in December 2006.

(2) During 2003, CIB Marine ceased to offer new loans through CIB Marine Capital and began winding down its affairs, including the sale and collection of outstanding loans.

(3) Inactive subsidiaries.