SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, DC 20549
 
 FORM 11-K
 ANNUAL REPORT
PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
  þ
    
    ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934. [NO FEE REQUIRED]
 For the fiscal year ended December 31, 2010
 OR
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934 [NO FEE REQUIRED].
 For the transition period from  to
 Commission file number 000-24478
 A.
    
    Full title of the plan and the address of the plan, if different from
that of the issuer named below: Fidelity Bank 401(k) plan.B.
    
    Name of the issuer of the securities held pursuant to the plan and the
address of its principal executive office:
 DEARBORN BANCORP, INC.




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Fidelity Bank 401(k) Plan




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Fidelity Bank 401(k) Plan
December 31, 2010 and 2009
 ContentsReport of Independent Registered Public Accounting Firm
    
    
    1Financial StatementsStatements of Net Assets Available for Benefits
    
    
    2Statements of Changes in Net Assets Available for Benefits
    
    
    3Notes to Financial Statements
    
    
    4Supplemental SchedulesSchedule H, Line 4i  Schedule of Assets (Held at End of Year)
    
    
    18Schedule H, Line 4j  Schedule of Reportable Transactions
    
    
    19




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Report of Independent Registered Public Accounting Firm
 
      
  1




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Independent Accountants Report
 
      
  1A




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Fidelity Bank 401(k) Plan
Statements of Net Assets Available for Benefits
December 31, 2010 and 2009
 2009(As Adjusted -2010
    
    
    Note 8)AssetsInvestments, at fair value
    
    $
    6,680,417
    
    
    $
    4,872,320ReceivablesNotes receivable from particpants
    
    
    249,666
    
    
    
    216,480Participant deferrals
    
    
    24,211
    
    
    
    22,944273,877
    
    
    
    239,424Net Assets Available for Benefits, at Fair Value
    
    
    6,954,294
    
    
    
    5,111,744Adjustment from fair value to contract value for fully
benefit-responsive investment contracts
    
    
    (77,163
    )
    
    
    Net Assets Available for Benefits
    
    $
    6,877,131
    
    
    $
    5,111,744
 See Notes to Financial Statements
 2




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##### 



Fidelity Bank 401(k) Plan
Statements of Changes in Net Assets Available for Benefits
Years Ended December 31, 2010 and 2009
 2009(As Adjusted -2010
    
    
    Note 8)AdditionsInvestment IncomeNet appreciation in fair value of investments
    
    $
    1,158,297
    
    
    $
    241,450Interest and dividends
    
    
    29,612
    
    
    
    24,874Net investment income
    
    
    1,187,909
    
    
    
    266,324Interest Income From Participant Loans
    
    
    12,269
    
    
    
    10,412ContributionsParticipants
    
    
    725,033
    
    
    
    782,680Employer
    
    
    
    
    
    
    167,399Rollovers
    
    
    17,266
    
    
    
    117,174742,299
    
    
    
    1,067,253Total additions
    
    
    1,942,477
    
    
    
    1,343,989DeductionsBenefit payments
    
    
    171,760
    
    
    
    155,467Adminstrative expenses
    
    
    5,330
    
    
    
    1,695Total deductions
    
    
    177,090
    
    
    
    157,162Net Increase
    
    
    1,765,387
    
    
    
    1,186,827Net Assets Available for Benefits, Beginning of Year
    
    
    5,111,744
    
    
    
    3,924,917Net Assets Available for Benefits, End of Year
    
    $
    6,877,131
    
    
    $
    5,111,744
 See Notes to Financial Statements
 3




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Fidelity Bank 401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009
 Note 1: Description of the Plan
 The following description of Fidelity Bank 401(k) Plan (Plan) provides only general
information. Participants should refer to the Plan Document and Summary Plan Descriptionfor
a more complete description of the Plans provisions, which are available from the Plan
Administrator.
 General
 The Plan is a defined-contribution plan sponsored by Fidelity Bank (Bank) for the benefit of
its employees who have at least six months of service and are age 18 or older. Related
employers who also participate in the Plan include Community Bank Audit Services and Dearborn
Bancorp. The Plan was effective January 1, 1988 and amended and restated effective January
1, 2002. The Plan is subject to the provisions of the Employee Retirement Income Security
Act of 1974 (ERISA). Jeffrey L. Karafa and Michael J. Ross are fiduciaries of the Plan.
State Street Bank and Trust Company serves as Plan trustee.
 Contributions
 Elective deferrals by participants under the 401(k) provisions are based on a percentage of
their compensation as defined by the Plan agreement and are subject to certain limitations.
Participants who have attained age 50 before the end of the Plan year are eligible to make
catch-up contributions. Employee rollover contributions are also permitted. The Bank may
make matching contributions of 50% of employees salary deferral amounts on the first 6% of
employees compensation and profit-sharing contributions. The Bank discontinued the match as
of the September 10, 2009 paycheck. Bank profit-sharing contributions are discretionary as
determined by the Banks Board of Directors. Contributions are subject to certain
limitations. Forfeitures are used to reduce Bank contributions.
 Participant Investment Account Options
 Investment account options available include pooled separate accounts consisting of various
mutual funds and Dearborn Bancorp, Inc. common stock. Each participant has the option of
directing his contributions into any of the separate investment accounts and may change the
allocation daily. All matching contributions, if approved by Plan management, are invested
in the Dearborn Bancorp, Inc. common stock pooled separate account. At December 31, 2010 and
2009, approximately 10% and 4%, respectively, of the Plans assets were invested in Dearborn
Bancorp, Inc. common stock.
 4




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Fidelity Bank 401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009
 Participant Accounts
 Each participants account is credited with the participants contribution, the Banks
contribution and Plan earnings and is charged with an allocation of administrative expenses.
Allocations are based on participant earnings or account balances, as defined. The benefits
to which a participant is entitled is the benefit that can be provided from the participants
vested account.
 Vesting
 Participants are immediately vested in their voluntary contributions plus earnings thereon.
Vesting in the Banks contribution portion of their accounts plus earnings thereon is based
on years of continuous service. A participant is fully vested after five years of continuous
service. The nonvested balance is forfeited upon termination of service. Forfeitures are
used to reduce Bank contributions.
 Payment of Benefits
 Upon termination of service, a participant may elect to receive a lump-sum amount equal to
the value of his account. A participant may receive the portion of his or her account
invested in Dearborn Bancorp, Inc. stock as shares of common stock or in cash. At December
31, 2010 and 2009, Plan assets did not include any accounts of terminated or retired
participants who have elected to withdraw from the Plan but have not yet been paid.
 Participant Loans
 The Plan Document includes provisions authorizing loans from the Plan to active eligible
participants. Loans are made to any eligible participant demonstrating a qualifying need.
The minimum amount of a loan shall be $1,000. The maximum amount of a participants loans is
determined by the available loan balance restricted to the lesser of $50,000 or 50% of the
participants vested account balance. All loans are covered by demand notes and are
generally repayable over a period of five years through payroll withholdings unless the
participant is paying the loan in full. All loans bear a reasonable rate of interest as
determined by the Administrator based on the prevailing interest rates charged by persons in
the business of lending money for loans which would be made under similar circumstances.Notes receivable from participants are reported at the amortized principal balance plus
accrued but unpaid interest. Delinquent participant loans are reclassified as distributions
based upon the terms of the Plan Document.
 Plan Termination
 Although it has not expressed an intention to do so, the Bank has the right under the Plan to
discontinue its contributions at any time and to terminate the Plan, subject to the
provisions of ERISA. In the event of Plan termination, participants will become 100% vested
in their accounts.
 5




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Fidelity Bank 401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009
 Note 2: Summary of Significant Accounting Policies
 Basis of Accounting
 The accompanying financial statements are prepared on the accrual basis of accounting.
 Use of Estimates
 The preparation of financial statements in conformity with accounting principles generally
accepted in the United States of America requires management to make estimates and
assumptions that affect the reported amounts of net assets and changes in net assets and
disclosure of contingent assets and liabilities at the date of the financial statements.
Actual results could differ from those estimates.
 Valuation of Investments and Income Recognition
 Quoted market prices, if available, are used to value investments. The amounts shown in Note
3 for securities that have no quoted market prices are estimated fair values. Pooled
separate accounts are valued at estimated fair value as provided by Massachusetts Mutual Life
Insurance Company (Mass Mutual). The fair value is determined by utilizing quoted market
prices of the underlying assets on the last day of the Plan year. The fair value of the
guaranteed investment account is calculated by discounting the related cash flows, based on
current yields of similar instruments with comparable durations. The account is credited
with a minimum guaranteed rate of interest.Investment contracts held by a defined-contribution plan are required to be reported at fair
value. However, contract value is the relevant measurement attribute for that portion of the
net assets available for benefits of a defined-contribution plan attributable to fully
benefit-responsive investment contracts because contract value is the amount participants
would receive if they were to initiate permitted transactions under the terms of the Plan.
The Plan invests in a guaranteed investment account. As required by the FSP, the statement
of net assets available for benefits presents the fair value of the guaranteed investment
contract as well as the adjustment of the investment from fair value to contract value
relating to the investment contracts. The statement of changes in net assets available for
benefits is prepared on a contract value basis.Purchases and sales of securities are recorded on a trade-date basis. Interest income is
recorded on the accrual basis. Dividends are recorded on the ex-dividend date.
 Investment Contract With Insurance Company
 The Plan entered into a fully benefit-responsive investment contract with Mass Mutual. Mass
Mutual maintains the contributions in a general account. The account is credited with
earnings on the underlying investments and charged for participant withdrawals and
administrative expenses. The guaranteed investment contract issuer is contractually
obligated to repay the principal and a specified interest rate guaranteed to the Plan.
 6




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Fidelity Bank 401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009
 As described in the previous note, because the guaranteed investment contract is fully
benefit-responsive, contract value is the relevant measurement attribute for that portion of
the net assets available for benefits attributable to the guaranteed investment contract.
Contract value, as reported to the Plan by Mass Mutual, represents contributions made under
the contract, plus earnings, less participant withdrawals and administrative expenses.
Participants may ordinarily direct the withdrawal or transfer of all or a portion of their
investment at contract value.There are no reserves against the contract value for credit risk of the contract issuer or
otherwise. The crediting interest rate is based on a formula agreed upon with the issuer,
but it may not be less than 3 percent. Such interest rates are reviewed on a quarterly basis
for resetting.Certain events limit the ability of the Plan to transact at contract value with the issuer.
Such events include the following: (1) amendments to the plan documents (including complete
or partial plan termination or merger with another plan), (2) changes to the plans
prohibition on competing investment options or deletion of equity wash provisions, (3)
bankruptcy of the plan sponsor or other plan sponsor events (for example, divestitures or
spin-offs of a subsidiary) that cause a significant withdrawal from the plan or (4) the
failure of the trust to qualify for exemption from federal income taxes or any required
prohibited transaction exemption under ERISA. The Plan Administrator does not believe the
occurrence of any such value event, which would limit the Plans ability to transact at
contract value with participants, is probable.The guaranteed investment contract permits the insurance company to terminate the agreement
prior to the scheduled maturity date under certain circumstances.
 Plan Tax Status
 The Plan operates under a nonstandardized adoption agreement in connection with a prototype
retirement plan and trust/custodial document sponsored by MassMutual Financial Group. This
prototype plan document has been filed with the appropriate agency. The Plan has not
obtained or requested a determination letter. However, the Plan Administrator believes that
the Plan is currently designed and being operated in compliance with the applicable
requirements of the Internal Revenue Code and that the Plan was qualified and the related
trust was tax-exempt as of the financial statement date. With a few exceptions, the Plan is
no longer subject to U.S. federal, state and local or non-U.S income tax examinations by tax
authorities for years before 2007.During 2009, the Plan filed through the Voluntary Fiduciary Correction to correct the late
remittance of certain employee contributions that occurred from 2006-2008.
 Payment of Benefits
 Benefits are recorded when paid. Distributions are allowed upon retirement, disability,
death of the employee and termination of service.
 7




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Fidelity Bank 401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009
 Risks and Uncertainties
 The Plan provides for various investment options in any combination of mutual funds and
stocks. Investment securities are exposed to various risks, such as interest rate, market
and credit risks. Due to the level of risk associated with certain investment securities, it
is at least reasonably possible that changes in the values of investment securities will
occur in the near term and that such changes could materially affect participants account
balances and the amounts reported in the statement of net assets available for plan benefits.The current economic environment also presents retirement plans with difficult circumstances
and challenges, which in some cases have resulted in large declines in the fair value of
investments. The financial statements have been prepared using values and information
currently available to the Plan.Given the volatility of current economic conditions, the values of assets recorded in the
financial statements could change rapidly, resulting in material future adjustments in
investment values that could negatively impact the Plan.
 Administrative Expenses
 Administrative expenses may be paid by the Bank or the Plan, at the Banks discretion.
 Note 3: Investments
 The Plans investments are held by an insurance company-administered trust fund. The
Plans investments (including investments bought, sold and held during the year) appreciated
in fair value as follows:
 2010NetAppreciation
    
    
    Fair Valuein Fair Value
    
    
    at EndDuring Year
    
    
    of YearPooled separate accountsDearborn Bancorp, Inc. common stock
    
    $
    633,589
    
    
    $
    667,068Mutual funds
    
    
    524,708
    
    
    
    4,858,031Guaranteed interest account
    
    
    
    
    
    
    1,155,318$
    1,158,297
    
    
    $
    6,680,417
 8




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Fidelity Bank 401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009
 2009(As Adjusted - Note 8)NetAppreciation(Depreciation)
    
    
    Fair Valuein Fair Value
    
    
    at EndDuring Year
    
    
    of YearDearborn Bancorp, Inc. common stock
    
    $
    (515,031
    )
    
    $
    199,495Mutual funds
    
    
    756,481
    
    
    
    3,882,620Guaranteed interest account
    
    
    
    
    
    
    790,205$
    241,450
    
    
    $
    4,872,320
 The fair value of individual investments that represented 5% or more of the Plans net
assets available for benefits were as follows:
 2010
    
    
    2009Pooled separate accountsOakmark Equity and Income Fund
    
    $
    604,160
    
    
    $
    560,537American Funds Growth Fund of America
    
    
    911,633
    
    
    
    799,282Premier Global
    
    
    515,957
    
    
    
    437,975Select Diversified Value Fund
    
    
    544,775
    
    
    
    395,234Select Strategic Bond Fund
    
    
    726,747
    
    
    
    632,157Select Indexed Equity Fund
    
    
    
    
    
    
    286,342Dearborn Bancorp, Inc. common stock
    
    
    667,068
    
    
    
    Guaranteed interest account
    
    
    1,155,318
    
    
    
    790,205
 Interest and dividends realized on the Plans investments for the years ended 2010 and
2009 were $29,612 and $24,874, respectively.Information on the guaranteed interest account carried at fair value is as follows:
 2010
    
    
    2009Average yield
    
    
    3.01
    %
    
    
    3.82
    %Crediting interest rate at December 31
    
    
    3.01
    %
    
    
    3.82
    %Fair value
    
    $
    1,155,318
    
    
    $
    790,205
 9




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Fidelity Bank 401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009
 Note 4: Net Assets by Participant and Nonparticipant-Directed Investments
  2010Nonparticipant-Participant
    
    
    DirectedDirected
    
    
    EmployerFunds
    
    
    Match
    
    
    TotalAdditionsInvestment incomeNet appreciation in fair value of
investments
    
    $
    912,184
    
    
    $
    246,113
    
    
    $
    1,158,297Interest and dividends
    
    
    29,612
    
    
    
    
    
    
    
    29,612Net investment income
    
    
    941,796
    
    
    
    246,113
    
    
    
    1,187,909Interest Income From Participant Loans
    
    
    12,269
    
    
    
    
    
    
    
    12,269ContributionsParticipants
    
    
    725,033
    
    
    
    
    
    
    
    725,033Rollovers
    
    
    17,266
    
    
    
    
    
    
    
    17,266742,299
    
    
    
    
    
    
    
    742,299Total
    
    
    1,696,364
    
    
    
    246,113
    
    
    
    1,942,477DeductionsBenefit payments
    
    
    158,090
    
    
    
    13,670
    
    
    
    171,760Transfers
    
    
    (56,500
    )
    
    
    56,500
    
    
    
    Adminstrative expenses
    
    
    3,910
    
    
    
    1,420
    
    
    
    5,330Total
    
    
    105,500
    
    
    
    71,590
    
    
    
    177,090Net Increase
    
    
    1,590,864
    
    
    
    174,523
    
    
    
    1,765,387Net Assets Available for Benefits,
Beginning of Year
    
    
    5,026,403
    
    
    
    85,341
    
    
    
    5,111,744Net Assets Available for Benefits,
End of Year
    
    $
    6,617,267
    
    
    $
    259,864
    
    
    $
    6,877,131
 10




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Fidelity Bank 401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009
 2009(As Adjusted - Note 8)Nonparticipant-Participant-
    
    
    DirectedDirected
    
    
    EmployerFunds
    
    
    Match
    
    
    TotalAdditionsInvestment incomeNet appreciation
(depreciation)
in fair value of investments
    
    $
    479,018
    
    
    $
    (237,568
    )
    
    $
    241,450Interest and dividends
    
    
    24,874
    
    
    
    
    
    
    
    24,874Net investment income (loss)
    
    
    503,892
    
    
    
    (237,568
    )
    
    
    266,324Interest Income From
Participant Loans
    
    
    10,412
    
    
    
    
    
    
    
    10,412ContributionsEmployer
    
    
    
    
    
    
    167,399
    
    
    
    167,399Participants
    
    
    782,680
    
    
    
    
    
    
    
    782,680Rollovers
    
    
    117,174
    
    
    
    
    
    
    
    117,174899,854
    
    
    
    167,399
    
    
    
    1,067,253Total additions
    
    
    1,414,158
    
    
    
    (70,169
    )
    
    
    1,343,989DeductionsBenefit payments
    
    
    147,993
    
    
    
    7,474
    
    
    
    155,467Transfers
    
    
    4,178
    
    
    
    (4,178
    )
    
    
    Adminstrative expenses
    
    
    407
    
    
    
    1,288
    
    
    
    1,695Total deductions
    
    
    152,578
    
    
    
    4,584
    
    
    
    157,162Net Increase (Decrease)
    
    
    1,261,580
    
    
    
    (74,753
    )
    
    
    1,186,827Net Assets Available for
Benefits,
Beginning of Year
    
    
    3,764,823
    
    
    
    160,094
    
    
    
    3,924,917Net Assets Available for
Benefits,
End of Year
    
    $
    5,026,403
    
    
    $
    85,341
    
    
    $
    5,111,744
 11




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Fidelity Bank 401(k) Plan
 Notes to Financial Statements
December 31, 2010 and 2009
 Note 5: Party-in-Interest Transactions
   Note 6: Fair Value of Plan Assets
 Fair Value Measurements
 Level 1
    
    Quoted prices in active markets for identical assets or liabilitiesLevel 2
    
    Observable inputs other than Level 1 prices, such as quoted prices for
similar assets or liabilities; quoted prices in markets that are not active; or other
inputs that are observable or can be corroborated by observable market data for
substantially the full term of the assets or liabilitiesLevel 3
    
    Unobservable inputs that are supported by little or no market activity
and that are significant to the fair value of the assets or liabilities
 12




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Fidelity Bank 401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009
   Investments
   Pooled separate accounts:
 Guaranteed investment contract:
 13




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Fidelity Bank 401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009
  2010Fair Value Measurements UsingQuoted Pricesin Active
    
    
    SignificantMarkets for
    
    
    Other
    
    
    SignificantIdentical
    
    
    Observable
    
    
    UnobservableFair
    
    
    Assets
    
    
    Inputs
    
    
    InputsValue
    
    
    (Level 1)
    
    
    (Level 2)
    
    
    (Level 3)Pooled separate accountsIntermediate term bond
    
    $
    816,190
    
    
    $
    
    
    
    $
    816,190
    
    
    $
    Large blend fund
    
    
    580,453
    
    
    
    
    
    
    
    580,453
    
    
    
    Large growth fund
    
    
    911,633
    
    
    
    
    
    
    
    911,633
    
    
    
    Large value fund
    
    
    638,672
    
    
    
    
    
    
    
    638,672
    
    
    
    Mid-cap fund
    
    
    226,615
    
    
    
    
    
    
    
    226,615
    
    
    
    Moderate allocation
    
    
    604,160
    
    
    
    
    
    
    
    604,160
    
    
    
    Retirement income fund
    
    
    19,193
    
    
    
    
    
    
    
    19,193
    
    
    
    Small fund
    
    
    256,076
    
    
    
    
    
    
    
    256,076
    
    
    
    Target date fund
    
    
    289,082
    
    
    
    
    
    
    
    289,082
    
    
    
    World stock fund
    
    
    515,957
    
    
    
    
    
    
    
    515,957
    
    
    
    Dearborn Bancorp common stock
    
    
    667,068
    
    
    
    
    
    
    
    667,068
    
    
    
    Guaranteed interest account
    
    
    1,155,318
    
    
    
    
    
    
    
    
    
    
    
    1,155,318$
    6,680,417
    
    
    $
    
    
    
    $
    5,525,099
    
    
    $
    1,155,318
 2009(As Adjusted - Note 8)Fair Value Measurements UsingQuoted Pricesin Active
    
    
    SignificantMarkets for
    
    
    Other
    
    
    SignificantIdentical
    
    
    Observable
    
    
    UnobservableFair
    
    
    Assets
    
    
    Inputs
    
    
    InputsValue
    
    
    (Level 1)
    
    
    (Level 2)
    
    
    (Level 3)Pooled separate accountsIntermediate term bond
    
    $
    632,157
    
    
    $
    
    
    
    $
    632,157
    
    
    $
    Large blend fund
    
    
    492,897
    
    
    
    
    
    
    
    492,897
    
    
    
    Large growth fund
    
    
    799,282
    
    
    
    
    
    
    
    799,282
    
    
    
    Large value fund
    
    
    481,830
    
    
    
    
    
    
    
    481,830
    
    
    
    Mid-cap fund
    
    
    159,654
    
    
    
    
    
    
    
    159,654
    
    
    
    Moderate allocation
    
    
    560,537
    
    
    
    
    
    
    
    560,537
    
    
    
    Retirement income fund
    
    
    15,396
    
    
    
    
    
    
    
    15,396
    
    
    
    Small fund
    
    
    195,371
    
    
    
    
    
    
    
    195,371
    
    
    
    Target date fund
    
    
    107,521
    
    
    
    
    
    
    
    107,521
    
    
    
    World stock fund
    
    
    437,975
    
    
    
    
    
    
    
    437,975
    
    
    
    Dearborn Bancorp common stock
    
    
    199,495
    
    
    
    
    
    
    
    199,495
    
    
    
    Guaranteed interest account
    
    
    790,205
    
    
    
    
    
    
    
    
    
    
    
    790,205$
    4,872,320
    
    
    $
    
    
    
    $
    4,082,115
    
    
    $
    790,205
 14




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Fidelity Bank 401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009
 The following is a reconciliation of the beginning and ending balances of recurring fair
value measurements recognized in the accompanying statements of net assets available for
benefits using significant unobservable (Level 3) inputs:
 GuaranteedInterestContractFundBalance, January 1, 2009
    
    $
    427,717Purchases, issuances and settlements, net
    
    
    362,488Balance, December 31, 2009
    
    
    790,205Purchases, issuances and settlements, net
    
    
    365,113Balance, December 31, 2010
    
    $
    1,155,318
 Note 7: Reconciliation of Financial Statements to Form 5500
 The following is a reconciliation of net assets available for benefits per the financial
statements at December 31, 2010 and 2009, to Form 5500:
 2010
    
    
    2009Net assets available for benefits per the financial statements
    
    $
    6,877,131
    
    
    $
    5,111,744Adjustment for participant contribution receivable
    
    
    (24,211
    )
    
    
    (22,944
    )Miscellaneous difference related to accrued interest
    
    
    
    
    
    
    401Net assets available for benefits per Form 5500
    
    $
    6,852,920
    
    
    $
    5,089,201
 2010
    
    
    2009Net increase in net assets per the financial statements
    
    $
    1,765,387
    
    
    $
    1,186,827Change in participant contributions receivable
    
    
    (1,267
    )
    
    
    (22,944
    )Change in employer contribution receivable
    
    
    
    
    
    
    9,058Miscellaneous difference related to accrued interest
    
    
    
    
    
    
    401Net increase in net assets per Schedule H of Form 5500
    
    $
    1,764,120
    
    
    $
    1,173,342
 Form 5500 has been prepared on the cash basis of accounting while this financial
statement has been prepared on the accrual basis. There are differences between the
financial statements and the Form 5500 related to contribution activity occurring in the last
pay period of 2009 and 2010.
 15




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##### 



Fidelity Bank 401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009
 There is also a difference related to accrued interest on notes receivable from
participants on the Form 5500 for 2010 and 2009.
 Note 8: Changes in Accounting Principle
 During 2010, the Plan adopted the provisions of ASU 2010-25, Reporting Loans to
Participants by Defined Contribution Pension Plans. The ASU requires loans to participants
to be reported as notes receivable from Participants at unpaid principal plus accrued but
unpaid interest, instead of being reported as a part of investments at fair value as they
were under previous guidance.
 The following financial statement line items for fiscal years 2010 and 2009 were affected by
the change in accounting principle.
 2010Statement of Net Assets Available for BenefitsAs Computed
    
    
    As ComputedUnder Previous
    
    
    Under
    
    
    Effect ofGuidance
    
    
    ASU 2010-25
    
    
    ChangeInvestments
    
    $
    6,930,083
    
    
    $
    6,680,417
    
    
    $
    (249,666
    )Notes receivable from participants
    
    
    
    
    
    
    249,666
    
    
    
    249,666
 2009Statement of Net Assets Available for BenefitsAs Previously
    
    
    
    
    
    
    Effect ofReported
    
    
    As Adjusted
    
    
    ChangeInvestments
    
    $
    5,088,800
    
    
    $
    4,872,320
    
    
    $
    (216,480
    )Notes receivable from participants
    
    
    
    
    
    
    216,480
    
    
    
    216,480
 2010Statement of Changes in Net Assets Availablefor BenefitsAs Computed
    
    
    As ComputedUnder Previous
    
    
    Under
    
    
    Effect ofGuidance
    
    
    ASU 2010-25
    
    
    ChangeInterest and dividends
    
    $
    41,881
    
    
    $
    29,612
    
    
    $
    (12,269
    )Net investment income
    
    
    1,200,178
    
    
    
    1,187,909
    
    
    
    (12,269
    )Interest income from participant loans
    
    
    
    
    
    
    12,269
    
    
    
    12,269
 16




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##### 



Fidelity Bank 401(k) Plan
Notes to Financial Statements
December 31, 2010 and 2009
 2009Statement of Changes in Net Assets Availablefor BenefitsAs Previously
    
    
    
    
    
    
    Effect ofReported
    
    
    As Adjusted
    
    
    ChangeInterest and dividends
    
    $
    35,286
    
    
    $
    24,874
    
    
    $
    (10,412
    )Net investment income
    
    
    276,736
    
    
    
    266,324
    
    
    
    (10,412
    )Interest income from participant loans
    
    
    
    
    
    
    10,412
    
    
    
    10,412
 Net assets available for benefits were not affected by the adoption of the new guidance.
 Note 9: Subsequent Events
 As of June 23, 2011, the value of Dearborn Bancorp, Inc. common stock has declined
approximately 34% from the value at December 31, 2010. Plan management has approved an
automatic deferral feature for the Plan effective on September 1, 2011.
 Subsequent events have been evaluated through June 29, 2011, which is the date the financial
statements were available to be issued.
 17




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##### 



Supplemental Schedules




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##### 



Fidelity Bank 401(k) Plan
Employer Identification Number: 38-3127130 Plan Number: 001
Schedule H, Line 4i  Schedule of Assets (Held at End of Year)
December 31, 2010
 (c)
    
    
    
    
    
    
    (e)(a)(b)
    
    Description of
    
    
    (d)
    
    
    CurrentIdentity of Issuer
    
    Investment
    
    
    Cost
    
    
    ValueCommon Stock*Dearborn Bancorp, Inc.
    
    290,536 shares
    
    $
    1,261,779
    
    
    $
    667,068Massachusetts Mutual Life Insurance Company*Guaranteed investment contract
    
    
    3.20
    %
    
    
    1,078,155
    
    
    
    1,155,318Pooled Separate Accounts*Select Small Cap Growth Equity Fund (W&R
    
    349 shares
    
    
    57,716
    
    
    
    68,997*Select Indexed Equity Fund
    
    2,963 shares
    
    
    277,452
    
    
    
    306,140*Thornburg International Value Fund
    
    2,059 shares
    
    
    244,146
    
    
    
    274,313*Invesco Trimark Small Companies
    
    1,112 shares
    
    
    93,680
    
    
    
    124,471*Columbia Small Cap Value II Fund
    
    641 shares
    
    
    52,598
    
    
    
    62,608*Select Diversified Value Fund
    
    5,018 shares
    
    
    552,599
    
    
    
    544,775*American Funds Growth Fund of America
    
    8,341 shares
    
    
    867,800
    
    
    
    911,633*Select Strategic Bond Fund
    
    5,572 shares
    
    
    624,511
    
    
    
    726,747*Pioneer Cullen Value Fund
    
    876 shares
    
    
    88,149
    
    
    
    93,897*Premier Global
    
    3,901 shares
    
    
    468,014
    
    
    
    515,957*Prudential Jennson Mid Cap Growth Fund
    
    126 shares
    
    
    18,252
    
    
    
    20,186*T. Rowe Price Retirement Income Fund
    
    174 shares
    
    
    16,350
    
    
    
    19,193*T. Rowe Price Retirement 2010 Fund
    
    156 shares
    
    
    14,056
    
    
    
    16,675*Oakmark Equity and Income Fund
    
    4,696 shares
    
    
    545,535
    
    
    
    604,160*T. Rowe Price Retirement 2020 Fund
    
    1,560 shares
    
    
    140,008
    
    
    
    160,722*Invesco Mid Cap Core Equity Fund
    
    923 shares
    
    
    162,258
    
    
    
    186,117*T. Rowe Price Retirement 2030 Fund
    
    864 shares
    
    
    76,841
    
    
    
    86,462*T. Rowe Price Retirement 2040 Fund
    
    245 shares
    
    
    21,540
    
    
    
    24,426*T. Rowe Price Retirement 2050 Fund
    
    7 shares
    
    
    736
    
    
    
    797*Babson Premium Core Bond Fund
    
    486 shares
    
    
    86,697
    
    
    
    89,443*Perkins Mid Cap Value Fund
    
    174 shares
    
    
    18,949
    
    
    
    20,3124,427,887
    
    
    
    4,858,031*Participant Loans
    
    4.25% to 8.25%
    
    
    249,666
    
    
    
    249,666$
    7,017,487
    
    
    $
    6,930,083* Party-in-interest
 18




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##### 



Fidelity Bank 401(k) Plan
Employer Identification Number: 38-3127130 Plan Number: 001
Schedule H, Line 4j  Schedule of Reportable Transactions
Year Ended December 31, 2010
 (f)
    
    
    
    
    
    
    (h)Expenses
    
    
    
    
    
    
    Current Value(a)
    
    
    
    
    (c)
    
    
    (d)
    
    
    (e)
    
    
    Incurred
    
    
    (g)
    
    
    of Asset onIdentity of Party
    
    
    (b)
    
    Purchase
    
    
    Selling
    
    
    Lease
    
    
    With
    
    
    Cost of
    
    
    Transaction
    
    
    (i)Involved
    
    
    Identity
    
    Price
    
    
    Price
    
    
    Rental
    
    
    Transaction
    
    
    Asset
    
    
    Date
    
    
    Net LossIssuer
    
    Dearborn common stockPurchases
    
    $
    167,377
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    167,377
    
    
    $
    167,377Sales
    
    
    
    
    
    $
    333,560
    
    
    
    
    
    
    
    
    
    
    
    447,345
    
    
    
    333,560
    
    
    $
    (113,785
    )
 19




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##### 



The Plan
 FIDELITY BANK 401(K) PLANBy:
    /s/ Jeffrey L. KarafaJeffrey L. Karafa




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##### 



23.1
    
    Consent of Independent Registered Public Accounting Firm  BKD, LLP