<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                    FORM 10-Q


Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act
of 1934 For the Quarterly period ended   March 31, 2002.
                                         --------------

Commission file number 000-24478.


                             DEARBORN BANCORP, INC.
                             ----------------------
             (Exact name of registrant as specified in its charter)

          Michigan                                     38-3073622
          --------                                     ----------
(State or other jurisdiction of            (I.R.S. Employer Identification No.)
 incorporation or organization)

                 22290 Michigan Avenue, Dearborn, MI 48123-2247
                 ----------------------------------------------
               (Address of principal executive office) (Zip Code)

                                 (313) 274-1000
                                 --------------
              (Registrant's telephone number, including area code)

                                       N/A
                                       ---
              (Former name, former address and former fiscal year,
                         if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

Yes      X       No
    -----------     ---------


Indicate the number of shares outstanding for each of the issuer's classes of
common stock, as of April 30, 2002.

        Class                                           Shares Outstanding
        -----                                           -------------------
    Common Stock                                             2,354,810




<PAGE>




                             DEARBORN BANCORP, INC.
                                      INDEX

<TABLE>
<S>      <C>                                                                         <C>
Part I.           Financial Information:

Item 1.           Financial Statements

                  The following consolidated financial statements of Dearborn
                  Bancorp, Inc. and its subsidiary included in this report are:                       Page
                                                                                                      ----
                  Independent Accountants' Report                                                      3

                  Consolidated Balance Sheets -- March 31, 2002,
                  December 31, 2001 and March 31, 2001                                                 4

                  Consolidated Statements of Income - For the Three
                  Months Ended March 31, 2002 and 2001                                                 5

                  Consolidated Statements of Comprehensive Income  - For
                  the Three Months Ended March 31, 2002 and 2001                                       6

                  Consolidated Statements of Cash Flows - For the
                  Three Months Ended March 31, 2002 and 2001                                           7

                  Notes to Consolidated Financial Statements                                        8-11

Item 2.           Management's Discussion and Analysis of Financial
                  Condition and Results of Operations, Liquidity and Capital                       12-22

Item 3.           Quantitative and Qualitative Disclosures about Market Risk                       23-24

Part II.          Other Information:

         Pursuant to SEC rules and regulations, the following item(s) are
         included with the Form 10-Q Report:

                  Item 6.   Exhibits and Reports on Form 8-K                                          25

         Pursuant to SEC rules and regulations, the following items are omitted
         from this Form 10-Q as inapplicable or to which the answer is negative:

                  Item 1.   Legal Proceedings
                  Item 2.   Changes in Securities and Use of Proceeds
                  Item 3.   Defaults upon Senior Securities
                  Item 4.   Submission of Matters to a Vote of Security Holders
                  Item 5.   Other Information

SIGNATURES                                                                                            26
</TABLE>


                                       2
<PAGE>








                         INDEPENDENT ACCOUNTANTS' REPORT



Board of Directors and Shareholders
Dearborn Bancorp, Inc.
Dearborn, Michigan


We have reviewed the consolidated balance sheets of Dearborn Bancorp, Inc. as of
March 31, 2002 and 2001, and the related consolidated statements of income,
comprehensive income and cash flows for the three month periods ended March 31,
2002 and 2001. These financial statements are the responsibility of the
Company's management.

We conducted our review in accordance with standards established by the American
Institute of Certified Public Accountants. A review of interim financial
information consists principally of applying analytical procedures to financial
data and making inquiries of persons responsible for financial and accounting
matters. It is substantially less in scope than an audit conducted in accordance
with generally accepted auditing standards, the objective of which is the
expression of an opinion regarding the financial statements taken as a whole.
Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material modifications that should
be made to the financial statements referred to above for them to be in
conformity with generally accepted accounting principles.






                                            /s/ Crowe, Chizek and Company LLP

Grand Rapids, Michigan
April 30, 2002







                                       3
<PAGE>


                      DEARBORN BANCORP, INC. AND SUBSIDIARY

                           CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>
(Dollars, in thousands)                                         03/31/02        12/31/01        03/31/01
                                                               Unaudited         Audited       Unaudited
                                                              -------------    ------------   -------------
<S>                                                           <C>              <C>            <C>
ASSETS
Cash and cash equivalents
         Cash and due from banks                                    $6,620          $3,600          $3,767
         Federal funds sold                                         19,138           4,887          24,124
         Interest bearing deposits with banks                       14,478           7,387          16,269
                                                              -------------    ------------   -------------
                    Total cash and cash equivalents                 40,236          15,874          44,160

Mortgage loans held for sale                                           307           2,915           6,855
Securities, available for sale                                      30,620          21,652          12,891
Federal Home Loan Bank stock                                         1,000           1,000             450
Loans
          Loans                                                    208,851         180,892         132,169
          Allowance for loan losses                                (2,131)         (1,922)         (1,272)
                                                              -------------    ------------   -------------
                    Net loans                                      206,720         178,970         130,897

Premises and equipment, net                                          4,777           4,746           3,721
Accrued interest receivable                                          1,186           1,085             902
Other assets                                                           779             623             192
                                                              -------------    ------------   -------------

          Total assets                                            $285,625        $226,865        $200,068
                                                              =============    ============   =============

LIABILITIES
Deposits
          Non-interest bearing deposits                            $24,976         $21,441         $22,290
          Interest bearing deposits                                211,403         156,040         147,739
                                                              -------------    ------------   -------------
                    Total deposits                                 236,379         177,481         170,029

Other liabilities
          Federal Home Loan Bank advances                           20,000          20,000             ---
          Mortgage payable                                             ---             ---             460
          Accrued interest payable                                     574             804             866
          Other liabilities                                            379             677             581
                                                              -------------    ------------   -------------
                    Total liabilities                              257,332         198,962         171,936

STOCKHOLDERS' EQUITY
          Common stock - 5,000,000 shares authorized,
                   2,354,810 shares at 03/31/02, 2,354,810 at
                   12/31/01; and 2,482,215 shares at
                   03/31/01                                         27,675          27,675          27,310
          Retained earnings                                            645             168             791
          Accumulated other comprehensive income (loss)               (27)              60              31
                                                              -------------    ------------   -------------
                    Total stockholders' equity                      28,293          27,903          28,132

                    Total liabilities and stockholders'
                      equity                                       $285,625        $226,865        $200,068
                                                              =============    ============   =============
</TABLE>

The accompanying notes are an integral part of these consolidated financial
statements

                                       4




<PAGE>




                      DEARBORN BANCORP, INC. AND SUBSIDIARY

                  CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

<TABLE>
<CAPTION>
(In thousands, except share data and per share data)                                 Three Months Ended
                                                                                03/31/02             03/31/01
                                                                            ---------------       -------------
<S>                                                                         <C>                 <C>
Interest income
          Interest on loans, including fees                                         $3,650              $2,936
          Interest on securities, available for sale                                   245                 455
          Interest on deposits with banks                                               21                  59
          Interest on federal funds                                                     77                 220
                                                                            ---------------       -------------
                    Total interest income                                            3,993               3,670

Interest expense
          Interest on deposits                                                       1,499               2,055
          Interest on other borrowings                                                 225                   8
                                                                            ---------------       -------------
                    Total interest expense                                           1,724               2,063

                    Net interest income                                              2,269               1,607
Provision for loan losses                                                              225                 130
                                                                            ---------------       -------------

Net interest income after provision for loan losses                                  2,044               1,477
                                                                            ---------------       -------------

Non-interest income
          Service charges on deposit accounts                                           76                  62
          Fees for other services to customers                                           8                   7
          Gain on the sale of loans                                                    222                 160
          Gain(loss) on the sale of securities, available for
            sale                                                                       ---                 (5)
          Other income                                                                   7                   2
                                                                            ---------------       -------------
                    Total non-interest income                                          313                 226

Non-interest expenses
          Salaries and employee benefits                                             1,008                 806
          Occupancy and equipment expense                                              218                 113
          Advertising and marketing                                                     62                  36
          Stationery and supplies                                                       64                  41
          Professional services                                                         53                  73
          Data processing                                                               54                  48
          FDIC insurance premiums                                                        8                   7
          Other operating expenses                                                     168                  93
                                                                            ---------------       -------------
                    Total non-interest expenses                                      1,635               1,217

Income before income tax provision                                                     722                 486
Income tax provision                                                                   245                 166
                                                                            ---------------       -------------

Net income                                                                            $477                $320
                                                                            ===============       =============

Share and per share data:
Net income - basic                                                                   $0.20               $0.13
Net income - diluted                                                                 $0.20               $0.13

Weighted average number of shares outstanding - basic                            2,354,810           2,491,588
Weighted average number of shares outstanding - diluted                          2,445,263           2,508,717
</TABLE>

The accompanying notes are an integral part of these consolidated financial
statements.




                                       5
<PAGE>




                      DEARBORN BANCORP, INC. AND SUBSIDIARY

           CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)

<TABLE>
<CAPTION>
(In thousand)                                                                         Three Months Ended
                                                                               03/31/02             03/31/01
                                                                             --------------       --------------
<S>                                                                          <C>                  <C>
Net income                                                                            $477                 $320
Other comprehensive income (loss), net of tax
     Unrealized gains (losses) on securities
          Unrealized holding gains (losses) arising during period                    (132)                  279
          Less:  reclassification adjustment for losses included
               in net income                                                           ---                    5
          Tax effects                                                                   45                 (89)
                                                                             --------------       --------------
Other comprehensive income (loss)                                                     (87)                  190
                                                                             --------------       --------------

Comprehensive income                                                                  $390                 $510
                                                                             ==============       ==============
</TABLE>

The accompanying notes are an integral part of these consolidated financial
statements.




                                       6
<PAGE>

                      DEARBORN BANCORP, INC. AND SUBSIDIARY

                CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

<TABLE>
<CAPTION>
(In thousands)                                                                              Three Months Ended
                                                                                          3/31/02         3/31/01
                                                                                        -------------   ------------
<S>                                                                                     <C>            <C>
Cash flows from operating activities
          Interest and fees received                                                          $3,892         $4,302
          Interest paid                                                                      (2,499)        (2,023)
          Taxes paid                                                                           (278)          (450)
          Proceeds from sale of mortgages held for sale                                       11,138         14,451
          Origination of mortgages held for sale                                             (8,308)       (20,221)
          Cash paid to suppliers and employees                                               (1,258)          (781)
                                                                                        -------------   ------------
          Net cash provided by (used in) operating activities                                  2,687        (4,722)

Cash flows from investing activities
          Proceeds from maturities of securities available for sale                            1,351         31,750
          Proceeds from sales of securities available for sale                                   ---         13,755
          Proceeds from repayments of securities available for sale                              126            ---
          Purchases of securities available for sale                                        (10,598)        (6,212)
          Increase in loans, net of payments received                                       (27,975)        (4,175)
          Purchases of property and equipment                                                  (127)          (630)
                                                                                        -------------   ------------
          Net cash provided by (used in) investing activities                               (37,223)         34,488

Cash flows from financing activities
          Net increase in non-interest bearing deposits                                        3,535          3,137
          Net increase in interest bearing deposits                                           55,363          2,771
          Principal payments on mortgage payable                                                 ---            (7)
          Repurchase of common stock                                                             ---          (141)
                                                                                        -------------   ------------
          Net cash provided by financing activities                                           58,898          5,760

Increase in cash and cash equivalents                                                         24,362         35,526
Cash and cash equivalents at the beginning of the period                                      15,874          8,634
                                                                                        -------------   ------------

Cash and cash equivalents at the end of the period                                           $40,236        $44,160
                                                                                        =============   ============

Reconciliation of net income to net cash provided by
  (used in) operating activities
Net income                                                                                      $477           $320
          Adjustments to reconcile net income to net cash
                    provided by (used in) operating activities
                    Provision for loan losses                                                    225            130
                    Depreciation and amortization expense                                         96             68
                    Accretion of discount on securities, available for sale                      (2)           (10)
                    Amortization of premium on securities, available for sale                     23             31
                    Loss on the sale of securities, available for sale                           ---              5
                    (Increase) decrease in mortgages held for sale                             2,608        (5,770)
                    (Increase) decrease in interest receivable                                 (101)            632
                    Increase (decrease) in interest payable                                    (230)             40
                    Increase in other assets                                                   (111)           (48)
                    Decrease in other liabilities                                              (298)          (120)
                                                                                        -------------   ------------

Net cash provided by (used in) operating activities                                           $2,687       ($4,722)
                                                                                        =============   ============

</TABLE>

The accompanying notes are an integral part of these consolidated financial
statements.




                                       7
<PAGE>

DEARBORN BANCORP, INC.
FORM 10-Q  (continued)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

A.       Accounting and Reporting Policies

         The consolidated financial statements of Dearborn Bancorp, Inc. (the
         "Corporation") include the consolidation of its only subsidiary,
         Community Bank of Dearborn (the "Bank"). The accounting and reporting
         policies of the Corporation are in accordance with generally accepted
         accounting principles and conform to practice within the banking
         industry.

         The consolidated financial statements of the Corporation as of March
         31, 2002 and 2001, and December 31, 2001 and for the three month period
         ended March 31, 2002 and 2001 reflect all adjustments, consisting of
         normal recurring items which are in the opinion of management,
         necessary for a fair presentation of the results for the interim
         period. The operating results for the quarter are not necessarily
         indicative of results of operations for the entire year.

         The consolidated financial statements as of March 30, 2002 and 2001,
         and for the three months ended March 31, 2002 and 2001 included herein
         have been prepared by the Corporation, without an audit, pursuant to
         the rules and regulations of the Securities and Exchange Commission.
         Certain information and footnote disclosures normally included in
         interim financial statements prepared in accordance with generally
         accepted accounting principles have been condensed or omitted pursuant
         to such rules and regulations. These financial statements should be
         read in conjunction with the financial statements and notes thereon
         included in the Corporation's 2001 Annual Report to Stockholders on
         Form 10-K.







                                       8
<PAGE>




B.       Securities Available For Sale



          The amortized cost and estimated market value of securities available
          for sale are as follows (in thousands):
<TABLE>
<CAPTION>
                                                                            March 31, 2002
                                                     -------------------------------------------------------------
                                                                        Gross          Gross         Estimated
                                                      Amortized      Unrealized      Unrealized        Market
                                                         Cost           Gains          Losses          Value
                                                     -------------  --------------  -------------  ---------------
<S>                                                 <C>             <C>             <C>            <C>
         US Treasury securities                            $2,053            $---           ($6)           $2,047
         Mortgage backed securities                         2,845               8           (29)            2,824
         Municipal securities                                 125             ---            ---              125
         Corporate debt securities                         21,638              43           (57)           21,624
         Preferred stock                                    4,000             ---            ---            4,000
                                                     -------------  --------------  -------------  ---------------

                   Totals                                 $30,661             $51          ($92)          $30,620
                                                     =============  ==============  =============  ===============

<CAPTION>

                                                                          December 31, 2001
                                                     -------------------------------------------------------------
                                                                        Gross          Gross         Estimated
                                                      Amortized      Unrealized      Unrealized        Market
                                                         Cost           Gains          Losses          Value
                                                     -------------  --------------  -------------  ---------------
<S>                                                 <C>             <C>             <C>            <C>
         US Treasury securities                            $2,069            $---           $---           $2,069
         Mortgage backed securities                         2,970              50            (7)            3,013
         Municipal securities                                 125               1            ---              126
         Corporate debt securities                         12,397              73           (26)           12,444
         Preferred stock                                    4,000             ---            ---            4,000
                                                     -------------  --------------  -------------  ---------------

                   Totals                                 $21,561            $124          ($33)          $21,652
                                                     =============  ==============  =============  ===============
</TABLE>

         The amortized cost and estimated market value of securities available
         for sale at March 31, 2002 by contractual maturity are shown below (in
         thousands):

<TABLE>
<CAPTION>
                                                                                                    Estimated
                                                                               Amortized              Market
                                                                                  Cost                Value
                                                                           -------------------  -------------------

<S>                                                                        <C>                  <C>
          Due in three months or less                                                  $2,625               $2,625
          Due in three months through one year                                         11,600               11,612
          Due in one year through five years                                            9,591                9,559
          Due in over ten years                                                         4,000                4,000
          Mortgage backed securities                                                    2,845                2,824
                                                                           -------------------  -------------------

                    Totals                                                            $30,661              $30,620
                                                                           ===================  ===================
</TABLE>




                                       9
<PAGE>



C.       Stock Option Plan

         Options to buy common stock are granted to officers and employees under
         a Stock Option Plan which provides for issue of up to 551,250 shares.
         Exercise price is the market price at date of grant. The maximum option
         term is ten years, and options vest fully after six months from the
         date of grant. If an option expires or terminates without having been
         exercised, such option becomes available for future grant under the
         Plan.

         A summary of the option activity is as follows for the three months
         ended March 31, 2002 is as follows:

<TABLE>
<CAPTION>
                                                                                                           Weighted
                                                                                          Weighted        Average Fair
                                                       Available                          Average           Value of
                                                          For            Options          Exercise          Options
                                                         Grant         Outstanding         Price            Granted
                                                         -----         -----------         -----            -------
<S>                                                 <C>             <C>               <C>               <C>
         Outstanding at January 1, 2002                    232,039         297,159          $8.50
         Granted                                         (112,500)         112,500          11.94             $5.15
                                                      -------------  --------------
         Outstanding at March 31, 2002                     119,539         409,659           9.44
</TABLE>

         For the options outstanding at March 31, 2002, the range of exercise
         prices was $6.18 to $11.94 per share with a weighted-average remaining
         contractual term of 8.0 years. At March 31, 2002, 297,159 options were
         exercisable at weighted average exercise price of $8.50 per share.

         Had compensation cost for stock options been measured using the fair
         value method of FASB Statement No. 123, net income and earnings per
         share would have been the pro forma amounts indicated below for the
         three months ended March 31, 2002 and 2001 (in thousands, except per
         share data). The pro forma effects may increase in the future if more
         options are granted.


<TABLE>
<CAPTION>
                                                                For the Three Months Ended March 31,
                                                               2002                            2001
                                                     --------------------------    -----------------------------
<S>                                                  <C>                           <C>
         Net income
                   As reported                                            $477                             $320
                   Pro forma                                               214                              184
         Basic income per share
                   As reported                                           $0.20                            $0.13
                   Pro forma                                              0.09                             0.07
         Diluted income per share
                   As reported                                            0.20                             0.13
                   Pro forma                                              0.09                             0.07
</TABLE>






                                    10

<PAGE>


         The pro forma effects are computed with option pricing models, using
         the following weighted average assumptions as of grant date for grants
         during the three month periods ended March 31, 2002 and 2001.

<TABLE>
<CAPTION>

                                                                      2002                  2001
                                                             ------------------   -------------------
<S>                                                          <C>                  <C>
          Risk-free interest rate                                        4.78%                 5.15%
          Expected option life                                         8 years               8 years
          Dividend yield                                                 0.00%                 0.00%
          Expected volatility of stock price                            26.07%                25.50%
</TABLE>

           All share and per share amounts have been adjusted for stock
dividends.





                                       11
<PAGE>






PART I  -  FINANCIAL INFORMATION

ITEM 2.  -  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
            CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis are intended to address significant
factors affecting the financial condition and results of operations of the
Corporation. The discussion provides a more comprehensive review of the
financial position and operating results than can be obtained from a reading of
the financial statements and footnotes presented elsewhere in this report.

Management's Discussion and Analysis of Financial Condition and Results of
Operations contains forward-looking statements that are based on management's
beliefs, assumptions, current expectations, estimates and projections about the
financial services industry, the economy, and about the Corporation and Bank.
Words such as "anticipates", "believes", "estimates", "expects", "forecasts",
"intends", "is likely", "plans", "projects", variations of such words and
similar expressions are intended to identify such forward-looking statements.
These statements are not guarantees of future performance and involve certain
risks, uncertainties and assumptions ("Future Factors") that are difficult to
predict with regard to timing, extent, likelihood and degree of occurrence.
Therefore, actual results and outcomes may materially differ from what may be
expressed or forecasted in such forward-looking statements. The Corporation
undertakes no obligation to update, amend or clarify forward-looking statements,
whether as a result of new information, future events (whether anticipated or
unanticipated), or otherwise.

Future Factors include changes in interest rates and interest rate
relationships; demand for products and services; the degree of competition by
traditional and non-traditional competitors; changes in banking regulation;
changes in tax laws; changes in prices, levies and assessments; the impact of
technological advances; governmental and regulatory policy changes; the outcomes
of contingencies; trends in customer behavior as well as their ability to repay
loans; and changes in the national and local economy. These are representative
of the Future Factors that could cause a difference between an ultimate actual
outcome and a preceding forward-looking statement.



                                       12
<PAGE>



GENERAL

The Corporation was formed in 1992 and the Bank was formed in 1993. Principal
operations of the Bank commenced on February 28, 1994 when the Bank opened for
business at its main office. Subsequently, branch offices were opened in
Dearborn Heights and Plymouth Township. During 2001, the Bank opened its fourth
and fifth offices, located at 1325 N. Canton Center Road, Canton Township,
Michigan and 45000 River Ridge Drive in Clinton Township, Michigan,
respectively. Additionally, Community Bank Mortgage, Inc., a mortgage company,
was formed and began operations in 2001. The Bank formed Community Bank Audit
Services, Inc., a subsidiary that will offer internal audit and compliance
services, on March 26, 2002.

RESULTS OF OPERATIONS

The Corporation reported net income of $477,000 for the three month period ended
March 31, 2002, compared to net income of $320,000 for the three month period
ended March 31, 2001. The increase in net income was primarily due to the
improvements in net interest income and the increase in gain on the sale of
loans. The improvement in net interest income was primarily due to the increase
in the commercial real estate loan and other commercial loan portfolios and the
decreasing cost of deposits during the period. Management expects net interest
income to continue to increase during 2002 due to the continued growth in the
loan portfolio and the continued diversification of the deposit mix with
emphasis on the growth of transaction based deposit products. The gain on sale
of loans, which is based on the level of residential real estate mortgage
originations is also expected to decline from current levels with anticipated
increases in interest rates.

NET INTEREST INCOME

2002 Compared to 2001. As noted on the two charts on the following pages, net
interest income for the three month period ended March 31, 2002, was $2,269,000
compared to $1,607,000 for the same period ended March 31, 2001, an increase of
$662,000 or 41%. This increase was caused primarily by an increase in the volume
of interest earning assets and interest bearing liabilities and the net interest
rate spread during the periods. The Corporation's interest rate spread increased
to 3.23% in 2002 from 2.28% in 2001. The Corporation's net interest margin
increased to 3.83% from 3.55% during the same period in 2001. The Corporation's
increase in interest rate spread and net interest margin was primarily the
result of the decreasing cost of the Bank's deposits as a result of the Bank's
ability to adjust the deposit mix by increasing the balances in savings and
other transaction-based deposit products relative to total deposits.
Additionally, general industry rates decreased throughout 2001. Management
expects that both the net interest margin on earning assets and the net interest
rate spread will increase during 2002 as the Bank converts funds currently held
in federal funds, interest bearing deposits with banks and securities, available
for sale into loans. Planned deposit growth for the remainder of 2002 is
expected to slow considerably in comparison to the first quarter of 2002.







                                       13
<PAGE>




Average Balances, Interest Rates and Yields. Net interest income is affected by
the difference ("interest rate spread") between rates of interest earned on
interest-earning assets and rates of interest paid on interest-bearing
liabilities and the relative amounts of interest-bearing liabilities and
interest-earning assets. When the total of interest-earning assets approximates
or exceeds the total of interest-bearing liabilities, any positive interest rate
spread will generate net interest income. Financial institutions have
traditionally used interest rate spreads as a measure of net interest income.
Another indication of an institution's net interest income is its "net yield on
interest-earning assets" or "net interest margin," which is net interest income
divided by average interest-earning assets.

The following table sets forth certain information relating to the Corporation's
consolidated average interest-earning assets and interest-bearing liabilities
and reflects the average yield on assets and average cost of liabilities for the
periods indicated. Such yields and costs are derived by dividing income or
expense by the average daily balance of assets or liabilities, respectively, for
the periods presented. During the periods indicated, non-accruing loans, if any,
are included in the loan category.

<TABLE>
<CAPTION>
                                                            Three months ended               Three months ended
                                                              March 31, 2002                    March 31, 2001
                                                       -------------------------------   -------------------------------
                                                        Average              Average      Average              Average
(In thousands)                                          Balance    Interest   Rate        Balance    Interest   Rate
                                                       ----------- -------- ----------   ----------  -------- ----------
<S>                                                   <C>          <C>      <C>          <C>         <C>      <C>
Assets
          Interest bearing deposits with banks             $6,941      $21      1.23%       $4,870       $59      4.91%
          Federal funds sold                               16,389       77      1.91%       16,332       220      5.46%
          Securities, available for sale                   25,324      245      3.92%       32,424       455      5.69%
          Loans                                           191,566    3,650      7.73%      130,088     2,936      9.15%
                                                       ----------- -------- ----------   ----------  -------- ----------
                    Sub-total earning assets              240,220    3,993      6.74%      183,714     3,670      8.10%
          Other assets                                     10,415                            9,302
                                                       -----------                       ----------

                    Total assets                         $250,635                         $193,016
                                                       ===========                       ==========

Liabilities and stockholders' equity
          Interest bearing deposits                      $179,237   $1,499      3.39%     $143,217    $2,055      5.82%
          Other borrowings                                 20,000      225      4.56%          462         8      7.02%
                                                       ----------- -------- ----------   ----------  -------- ----------
                    Sub-total interest bearing
                      liabilities                         199,237    1,724      3.51%      143,679     2,063      5.82%
          Non-interest bearing deposits                    21,972                           19,878
          Other liabilities                                 1,200                            1,466
          Stockholders' equity                             28,256                           27,993
                                                       -----------                       ----------

                    Total liabilities and
                      stockholders' equity               $250,635                         $193,016
                                                       ===========                       ==========

                    Net interest income                             $2,269                            $1,607
                                                                   ========                          ========

                    Net interest rate spread                                    3.23%                             2.28%
                                                                            ==========                        ==========

                    Net interest margin on earning
                      assets                                                    3.83%                             3.55%
                                                                            ==========                        ==========
</TABLE>






                                       14
<PAGE>




Rate/Volume Analysis. The following table analyzes net interest income in terms
of changes in the volume of interest-earning assets and interest-bearing
liabilities and changes in yields and rates. The table reflects the extent to
which changes in the interest income and interest expense are attributable to
changes in volume (changes in volume multiplied by prior year rate) and changes
in rate (changes in rate multiplied by prior year volume). Changes attributable
to the combined impact of volume and rate have been allocated proportionately to
changes due to volume and changes due to rate.



<TABLE>
<CAPTION>
                                                                          Three Months Ended March 31,
                                                                                   2002 / 2001
                                                                           Change in Interest Due to:
                                                              ------------------------------------------------------
                                                                 Average             Average              Net
(In thousands)                                                   Balance              Rate              Change
                                                              ---------------    ----------------   ----------------

<S>                                                           <C>               <C>                <C>
Assets
          Interest bearing deposits with banks                            $6               ($44)              ($38)
          Federal funds sold                                                               (143)              (143)
                                                                         ---
          Securities, available for sale                                (69)               (141)              (210)
          Loans                                                        1,171               (457)                714
                                                              ---------------    ----------------   ----------------
Total earning assets                                                  $1,109              ($786)               $323
                                                              ===============    ================   ================

Liabilities
          Interest bearing deposits                                     $301              ($857)             ($556)
          Other borrowings                                               220                 (3)                217
                                                              ---------------    ----------------   ----------------
Total interest bearing liabilities                                      $521              ($860)             ($339)
                                                              ===============    ================   ================

                Net interest income                                                                            $662
                                                                                                    ================

                Net interest rate spread                                                                      0.95%
                                                                                                    ================

                Net interest margin on earning assets                                                         0.28%
                                                                                                    ================
</TABLE>

PROVISION FOR LOAN LOSSES

2002 Compared to 2001. The provision for loan losses was $225,000 for the three
month period ended March 31, 2002, compared to $130,000 for the same period in
2001, an increase of $95,000 or 73% for the three month period. The provision
for loan losses for the three month period ended March 31, 2002 is based on the
internal analysis of the adequacy of the allowance for loan losses and the
increase is primarily the result of loan growth of $28.0 million for the three
month period ended March 31, 2002. The provision for loan losses was based upon
management's assessment of relevant factors, including types and amounts of
non-performing loans, historical and anticipated loss experience on such types
of loans, and current and projected economic conditions.


                                       15
<PAGE>

NON-INTEREST INCOME

2002 Compared to 2001. Non-interest income was $313,000 for the three month
period ended March 31, 2002, compared to $226,000 for the same period in 2001,
an increase of $87,000 or 38%. The increase was primarily due to the increase in
the gain on the sale of loans during the period. The Bank has improved the
return on loans held for sale through the use of additional correspondents and
more profitable loan delivery options. Management does not expect the gain on
sale of loans to continue at the same level during the remainder of 2002 due to
an anticipated decrease in the origination of loans held for sale.

NON-INTEREST EXPENSE

2002 Compared to 2001. Non-interest expense was $1,635,000 for the three month
period ended March 31, 2002, compared to $1,217,000 for the same period in 2001,
an increase of $418,000 or 34%. The largest component of non-interest expense
was salaries and employee benefits which amounted to $1,008,000 for the three
month period ended March 31, 2002, compared to $806,000 for the same period in
2001, an increase of $202,000 or 25%. The primary factor in the increase in
salaries and benefits expense was the addition of two branch offices during 2001
and the expansion of the commercial lending department. As of March 31, 2002,
the number of full time equivalent employees was 68 compared to 50 as of March
31, 2001. Salaries and employee benefits will continue to increase with general
staff increases.

Two other components of the increase in non-interest expense were occupancy and
equipment expense and other operating expense. Occupancy and equipment expense
amounted to $218,000 for the three month period ended March 31, 2002, compared
to $113,000 for the same period in 2001, an increase of $105,000 or 93%. Other
operating expense amounted to $168,000 for the three month period ended March
31, 2002, compared to $93,000 for the same period in 2001, an increase of
$75,000 or 81%. The primary factor in the increase in occupancy and equipment
expense and other operating expense was the opening of branch offices in Canton
Township, Michigan and Clinton Township, Michigan. The Bank also completed the
construction of an addition to the Bank's main office in Dearborn, Michigan in
December 2001. During 2002, the Bank will open a retail branch on the pad site
along Hall Road in Clinton Township in front of the current offices in the River
Ridge Corporate Office Center Building. Construction of this project is expected
to commence during the second quarter of 2002. Upon completion, the retail
branch staff will move to the pad site while loan, operations and administrative
personnel will remain in the existing building. Additionally, the Bank expects
to open one additional office during 2002.

INCOME TAX PROVISION

2001 Compared to 2000. The income tax expense was $245,000 for the three month
period ended March 31, 2002, compared to $166,000 for the same period in 2001,
an increase of $79,000 or 48%. The increase was primarily a result of increased
pre-tax income.




                                       16
<PAGE>

COMPARISON OF FINANCIAL CONDITION AT MARCH 31, 2002 AND DECEMBER 31, 2001

Assets. Total assets at March 31, 2002 were $285,625,000 compared to
$226,865,000 at December 31, 2001, an increase of $58,760,000 or 26%. The
increase was primarily due to increases in deposits during the period. The funds
have been deployed into loans and short term investments.

Federal Funds Sold. Total federal funds sold at March 31, 2002 were $19,138,000
compared to $4,887,000 at December 31, 2001, an increase of $14,251,000 or 292%.
The increase was primarily due to the short term deployment of funds that were
received as a result of an increase in deposits during the period. These funds
are deployed into federal funds sold until they can be utilized to fund loan
volume or invested into other securities.

Interest bearing deposits with banks. Total interest bearing deposits with banks
at March 31, 2002 were $14,478,000 compared to $7,387,000 at December 31, 2001.
This investment was established to provide the Corporation with an alternate
short term investment option. This short term investment is a variable-rate
certificate of deposit with the Federal Home Loan Bank of Indianapolis that
carries a similar rate of return to federal funds sold.

Mortgage Loans Held for Sale. Total mortgage loans held for sale at March 31,
2002 were $307,000 compared to $2,915,000 at December 31, 2001, a decrease of
$2,608,000 or 89%. This decrease was a result of a decrease in the level of
residential real estate mortgage loan activity during the period and the Bank's
ability to receive funding more rapidly due to the use of additional
correspondents.

Securities - Available for Sale. Total securities, available for sale, at March
31, 2002 were $30,620,000 compared to $21,652,000 at December 31, 2001, an
increase of $8,968,000 or 41%. The increase was due to the purchase of
securities, available for sale during the period.

The entire portfolio has a unrealized loss of $41,000. The Corporation does not
hold any securities in the "Held to Maturity" category nor does the Corporation
hold or utilize derivatives.

Please refer to Note B for the amortized cost and estimated market value of
securities, available for sale.

Federal Home Loan Bank Stock. Federal Home Loan Bank stock was valued at
$1,000,000 at March 31, 2002 and December 31, 2001.





                                       17
<PAGE>




Loans. Total loans at March 31, 2002 were $208,851,000 compared to $180,892,000
at December 31, 2001, an increase of $27,959,000 or 15%. The increase was
primarily due to the expansion of the commercial lending department during 2001.
This expansion included the addition of two experienced loan officers at the
Bank's branch office in Clinton Township, Michigan and the development of the
surrounding region. Major categories of loans included in the loan portfolio are
as follows (in thousands):

<TABLE>
<CAPTION>
                                                        03/31/02             12/31/01             03/31/01
                                                   -------------------  -------------------  -------------------
<S>                                                <C>                  <C>                  <C>
Consumer loans                                                $18,147              $18,773              $17,840
Commercial, financial, & other                                 35,199               28,920               28,546
Commercial real estate construction                            16,756               10,463                3,274
Commercial real estate mortgages                              108,053               90,200               54,573
Residential real estate mortgages                              30,696               32,536               27,936
                                                   -------------------  -------------------  -------------------

                                                              208,851              180,892              132,169
Allowance for loan losses                                     (2,131)              (1,922)              (1,272)
                                                   -------------------  -------------------  -------------------

                                                             $206,720             $178,970             $130,897
                                                   ===================  ===================  ===================
</TABLE>


The following is a summary of non-performing assets and problems loans (in
thousands):

<TABLE>
<CAPTION>
                                                        03/31/02             12/31/01             03/31/01
                                                   -------------------  -------------------  -------------------
<S>                                                <C>                  <C>                  <C>
Over 90 days past due and still accruing                          $48                 $364                 $413
Non-accrual loans                                                 854                  427                  291
Renegotiated loans                                                ---                  ---                  362
                                                   -------------------  -------------------  -------------------

                                                                 $902                 $791               $1,066
                                                   ===================  ===================  ===================
</TABLE>


Non-accrual loans at March 31, 2002 were $854,000, of which, $338,000 were well
secured by residential real estate. Non-accrual loans consisted of two
residential mortgage loans in bankruptcy proceedings with balances of $289,000
and $49,000 and two slow paying commercial equipment loans with balances of
$299,000 and $217,000.

Allowance for Loan Losses. The allowance for loan losses was $2,131,000 at March
31, 2002 compared to $1,922,000 at December 31, 2001, an increase of $209,000 or
11%. The increase was primarily due to growth in the loan portfolio during the
three months ended March 31, 2002. The allowance for loan losses was based upon
management's assessment of relevant factors, including loan growth, types and
amounts of non-performing loans, historical and anticipated loss experience on
such types of loans, and current and projected economic conditions.





                                       18
<PAGE>


The following is an analysis of the allowance for loan losses (in thousands):


<TABLE>
<CAPTION>
                                                     Quarter Ended          Year Ended         Quarter Ended
                                                        03/31/02             12/31/01             03/31/01
                                                   -------------------  -------------------  -------------------
<S>                                                <C>                  <C>                  <C>
Balance, beginning of year                                     $1,922               $1,252               $1,252

Charge-offs:
          Consumer loans                                         (19)                 (43)                 (34)
          Commercial loans                                        ---                (251)                 (88)
Recoveries:
          Consumer loans                                            1                   32                    8
          Commercial loans                                          2                   12                    4
                                                   -------------------  -------------------  -------------------

Net charge-offs                                                  (16)                (250)                (110)

Additions charged to operations                                   225                  920                  130
                                                   -------------------  -------------------  -------------------

Balance, end of period                                         $2,131               $1,922               $1,272
                                                   ===================  ===================  ===================

Allowance to total loans                                        1.02%                1.06%                0.96%
                                                   ===================  ===================  ===================

Allowance to nonperforming assets                             236.25%              242.98%              119.32%
                                                   ===================  ===================  ===================

Net charge-offs to average loans                                0.01%                0.17%                0.08%
                                                   ===================  ===================  ===================
</TABLE>

Premises and Equipment. Bank premises and equipment at March 31, 2002 was
$4,777,000 compared to $4,746,000 at December 31, 2001, an increase of $31,000
or 1%. The increase in premises and equipment was due to the cost of furniture,
fixtures and equipment at the Bank's branch office in Clinton Township,
Michigan.

Accrued Interest Receivable. Accrued interest receivable at March 31, 2002 was
$1,186,000 compared to $1,085,000 at December 31, 2001, an increase of $101,000
or 9%. The increase was primarily due to the increase in the Bank's loan
portfolio.

Other Assets. Other assets at March 31, 2002 were $779,000 compared to $623,000
at December 31, 2001, an increase of $156,000 or 25%. The increase was primarily
due to changes in deferred tax assets.



                                       19
<PAGE>




Deposits. Total deposits at March 31, 2002 were $236,379,000 compared to
$177,481,000 at December 31, 2001, an increase of $58,898,000 or 33%. The
following is a summary of the distribution of deposits (in thousands):

<TABLE>
<CAPTION>
                                                        03/31/02             12/31/01             03/31/01
                                                   -------------------  -------------------  -------------------
<S>                                                <C>                  <C>                  <C>
Non-interest bearing:
          Demand                                              $24,976              $21,441              $22,290
                                                   -------------------  -------------------  -------------------


Interest bearing:
          Checking                                            $15,470               $9,263               $7,533
          Money market                                         15,135               20,545               21,087
          Savings                                              50,292               37,429                6,433
          Time, under $100,000                                 61,362               38,667               56,485
          Time, $100,000 and over                              69,144               50,136               56,201
                                                   -------------------  -------------------  -------------------
                                                              211,403              156,040              147,739
                                                   -------------------  -------------------  -------------------

Total deposits                                               $236,379             $177,481             $170,029
                                                   ===================  ===================  ===================
</TABLE>

The increase in deposits was primarily due to normal business development,
marketing, telemarketing, referral programs and growth strategies which included
a grand opening promotion for the Bank's branch office in Clinton Township,
Michigan, which targeted time deposit growth and an annual birthday celebration
and marketing campaign in March 2002. Management also implemented a strategy
during 2001 to change the mix of the deposit portfolio by focusing more heavily
on demand, interest bearing checking, savings and money market, while reducing
its reliance on time deposits. The implementation of this strategy will continue
in 2002.

Federal Home Loan Bank Advances. Federal Home Loan Bank advances were
$20,000,000 at March 31, 2002 and December 31, 2001.

Accrued Interest Payable. Accrued interest payable at March 31, 2002 was
$574,000 compared to $804,000 at December 31, 2001, a decrease of $230,000 or
29%. The decrease was primarily due to the decreasing cost of interest bearing
deposits during the period.

Other Liabilities. Other liabilities at March 31, 2002 were $379,000 compared to
$677,000 at December 31, 2001, a decrease of $298,000 or 44%. The decrease was
primarily due to the decrease in expenses payable during the period.




                                       20
<PAGE>

CAPITAL


Stockholders' equity at March 31, 2002 was $28,293,000 compared to $27,903,000
as of December 31, 2001, an increase of $390,000 or 1%. In prior years, the
Corporation had announced that it would repurchase up to 406,874 shares of its
outstanding common stock under two stock repurchase programs. Through December
31, 2001, the Corporation was able to repurchase 393,624 shares within
Securities and Exchange Commission guidelines primarily related to the volume of
market activity. Considering that the Corporation's stock closed at $13.810 per
share on March 31, 2002, representing a 115 percent market to book ratio and the
Corporation's plans for continued expansion, the Corporation is not planning to
repurchase shares during 2002. No shares were repurchased during the first
quarter of 2002.

The following is a presentation of the Corporation's and Bank's regulatory
capital ratios (in thousands):

<TABLE>
<CAPTION>
                                                                                               Minimum
                                                                                       To Be Well Capitalized
                                                           Minimum for Capital          Under Prompt Corrective
                                        Actual              Adequacy Purposes              Action Provisions
                               ------------------------   -----------------------   ---------------------------
                                   Amount      Ratio         Amount      Ratio           Amount        Ratio
                               ------------------------   -----------------------   ---------------------------

<S>                            <C>             <C>        <C>            <C>        <C>              <C>
As of March 31, 2002
     Total capital
        (to risk weighted
          assets)
               Consolidated           $30,451    12.7%          $19,244     8.0%             $24,055     10.0%
               Bank                    24,845    10.5%           18,908     8.0%              23,635     10.0%
    Tier 1 capital
        (to risk weighted
          assets)
               Consolidated            28,320    11.8%            9,622     4.0%              14,433      6.0%
               Bank                    22,714     9.6%            9,454     4.0%              14,181      6.0%
    Tier 1 capital
        (to average assets)
               Consolidated            28,320    11.3%           10,025     4.0%              12,532      5.0%
               Bank                    22,714     9.4%            9,656     4.0%              12,070      5.0%


As of December 31, 2001
     Total capital
        (to risk weighted
          assets)
               Consolidated           $29,765    14.2%          $16,735     8.0%             $20,939     10.0%
               Bank                    20,170    10.1%           16,056     8.0%              20,090     10.0%
    Tier 1 capital
        (to risk weighted
          assets)
               Consolidated            27,843    13.3%            8,367     4.0%              12,563      6.0%
               Bank                    18,249     9.1%            8,028     4.0%              12,054      6.0%
    Tier 1 capital
        (to average assets)
               Consolidated            27,843    12.9%            8,654     4.0%              10,817      5.0%
               Bank                    18,249     8.9%            8,183     4.0%              10,229      5.0%
</TABLE>


Based on the respective regulatory capital ratios at March 31, 2002 and December
31, 2001, the Corporation and Bank are considered well capitalized.



                                       21
<PAGE>

LIQUIDITY AND ASSET AND LIABILITY MANAGEMENT


Liquidity refers to readily available funds to meet the needs of borrowers and
depositors. Levels of liquidity are closely monitored in conjunction with loan
funding requirements and deposit outflows. Adequate liquidity protects
institutions from raising funds under duress at excessive expense and provides a
necessary cushion for occasional unpredictable aberrations in demand. While
adequate liquidity is imperative, excessive liquidity in lower yielding cash
investments or other easily marketable assets reduces potential interest income.
Thus, an appropriate balance must be maintained to protect the institution and
at the same time, prudently maximize income opportunities. Sources of liquidity
from both assets and liabilities include federal funds sold, securities
available for sale, loan repayments, core deposits and a federal funds purchase
credit facility.







                                       22
<PAGE>


PART I  -   FINANCIAL INFORMATION

ITEM 3.  -   QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
             RISK

Interest Rate Sensitivity Analysis. The Corporation has sought to manage its
exposure to changes in interest rates by matching the effective maturities or
repricing characteristics of the Corporation's interest-earning assets and
interest-bearing liabilities. The matching of the assets and liabilities may be
analyzed by examining the extent to which the assets and liabilities are
interest rate sensitive and by monitoring the expected effects of interest rate
changes on net interest income.

An asset or liability is interest rate sensitive within a specific time period
if it will mature or reprice within that time period. If the Corporation's
assets mature or reprice more quickly or to a greater extent that its
liabilities, the Corporation's net portfolio value and net interest income would
tend to increase during periods of rising interest rates but decrease during
periods of falling interest rates. If the Corporation's assets mature or reprice
more slowly or to a lesser extent than its liabilities, its net portfolio value
and net interest income would tend to decrease during periods of rising interest
rates but increase during periods of falling interest rates.

The matching of assets and liabilities may be analyzed by examining the extent
to which such assets and liabilities are "interest rate sensitive" and by
monitoring an institution's interest rate sensitivity "gap." An asset or
liability is said to be interest rate sensitive within a specific period if it
will mature or reprice within that period. The interest rate sensitivity "gap"
is the difference between the amount of interest-earning assets maturing or
repricing within a specific time period and the amount of interest-bearing
liabilities maturing or repricing within that time period. A gap is considered
positive when the amount of interest rate sensitive assets exceeds the amount of
interest rate sensitive liabilities, and is considered negative when the amount
of interest rate sensitive liabilities exceed the amount of interest rate
sensitive assets. During a period of rising interest rates, a negative gap would
be expected to adversely affect net interest income while a positive gap would
be expected to result in an increase in net interest income, while conversely
during a period of declining interest rates, a negative gap would be expected to
result in an increase in net interest income and a positive gap would be
expected to adversely affect net interest income.



                                       23
<PAGE>



Different types of assets and liabilities with the same or similar maturities
may react differently to changes in overall market rates or conditions, and thus
changes in interest rates may affect net interest income positively or
negatively even if an institution were perfectly matched in each maturity
category. Additionally, the gap analysis does not consider the many factors as
banking interest rates move. While the interest rate sensitivity gap is a useful
measurement and contributes toward effective asset and liability management, it
is difficult to predict the effect of changing interest rates solely on that
measure, without accounting for alterations in the maturity or repricing
characteristics of the balance sheet that occur during changes in market
interest rates. During periods of rising interest rates, the Corporation's
assets tend to have prepayments that are slower than those in an interest rate
sensitivity gap and would increase the negative gap position. Conversely, during
a period of declining interest rates, the Corporation's assets would tend to
prepay faster than originally expected thus decreasing the negative gap
position. In addition, some of the Corporation's assets, such as adjustable rate
mortgages, have caps on the amount by which their interest rates can change in
any single period, and therefore may not reprice as quickly as liabilities in
the same maturity category.

The following table sets forth the amounts of interest earning assets and
interest bearing liabilities outstanding at March 31, 2002, which are expected
to mature or reprice in each of the time periods shown below.

<TABLE>
<CAPTION>
                                                       ------------------------------------------------------------
(In thousands)                                            1-90       91-365        1-5         Over
                                                          Days        Days        Years       5 Years      Total
                                                       ----------- ------------ -----------  ----------  ----------
<S>                                                    <C>         <C>          <C>          <C>        <C>
Earning assets
          Federal funds sold                              $19,138         $---        $---        $---     $19,138
          Interest bearing deposits with banks             14,478          ---         ---         ---      14,478
          Mortgage loans held for sale                        307          ---         ---         ---         307
          Securities available for sale                    17,223        5,087       6,011       2,299      30,620
          Federal Home Loan Bank stock                      1,000          ---         ---         ---       1,000
          Total loans (1)                                  54,368       11,018     127,590      15,021     207,997
                                                       ----------- ------------ -----------  ----------  ----------
Total earning assets                                      106,514       16,105     133,601      17,320     273,540

Interest bearing liabilities
          Time deposits                                    17,961       32,992      79,553         ---     130,506
          Other interest bearing deposits                  80,897          ---         ---         ---      80,897
          Federal funds purchased                             ---          ---         ---         ---         ---
          Federal Home Loan Bank advances                     ---          ---      10,000      10,000      20,000
                                                       ----------- ------------ -----------  ----------  ----------
Total interest bearing liabilities                         98,858       32,992      89,553      10,000     231,403

Net asset (liability) funding gap                           7,656     (16,887)      44,048       7,320     $42,137
                                                       ----------- ------------ -----------  ----------  ==========

Cumulative net asset (liability) funding gap               $7,656     ($9,231)     $34,817     $42,137
                                                       =========== ============ ===========  ==========
</TABLE>

(1)  Total loans do not include non-accrual loans.




                                       24
<PAGE>

DEARBORN BANCORP, INC. AND SUBSIDIARY
FORM 10-Q  (continued)

PART II  -  OTHER INFORMATION

ITEM 6.  EXHIBITS AND REPORTS IN FORM 8-K.

(a) A Form 8-K Report was not filed during the three months ended March 31,
2002.




                                       25
<PAGE>




DEARBORN BANCORP, INC.
FORM 10-Q  (continued)


                                   SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.



                             Dearborn Bancorp, Inc.
                                  (Registrant)





                               /s/ John E. Demmer
                         -------------------------------
                                 John E. Demmer
                      Chairman and Chief Executive Officer



                               /s/ Michael J. Ross
                         -------------------------------
                                 Michael J. Ross
                                    President



                              /s/ Jeffrey L. Karafa
                         -------------------------------
                                Jeffrey L. Karafa
                      Treasurer and Chief Financial Officer




Date:  May 10, 2002


                                       26