EX-99.1 2 ex99-1.htm ex99-1.htm
Exhibit 99.1

 
UNITED STATES DEPARTMENT OF JUSTICE
OFFICE OF THE UNITED STATES TRUSTEE
SOUTHERN DISTRICT OF CALIFORNIA

In Re:
 
IMPERIAL CAPITAL BANCORP, INC., a
Delaware corporation
 
Debtor(s).
    CHAPTER 11 (BUSINESS)
    CASE NO. 3:09-bk-19431
    OPERATING REPORT NO. 23
    FOR THE MONTH ENDING:
    OCTOBER 2011

I. CASH RECEIPTS AND DISBURSEMENTS
A.1 (BANK OF AMERICA GENERAL ACCOUNT)

1.  
TOTAL RECEIPTS PER ALL PRIOR GENERAL ACCOUNT REPORTS
  $ 5,952,722.52  
         
2.  
LESS: TOTAL DISBURSEMENTS PER ALL PRIOR
GENERAL ACCOUNT REPORTS
   5,952,722.52  
             
3.  
BEGINNING BALANCE:
  $ 0.00  

4.  
RECEIPTS DURING CURRENT PERIOD:
   
             
   
ACCOUNTS RECEIVABLE - PRE-FILING
  $ 0.00  
   
ACCOUNTS RECEIVABLE - POST-FILING
  $ 0.00  
   
GENERAL SALES
  $ 0.00  
   
OTHER (SPECIFY) Payments on residual interests
  $ 0.00  
   
OTHER** (SPECIFY) Refunds
  $ 0.00  
 
   
TOTAL RECEIPTS THIS PERIOD:
  $ 0.00  
5.  
BALANCE:
  $ 0.00  

6.  
LESS: TOTAL DISBURSEMENTS DURING CURRENT PERIOD
 
       
   
    TRANSFERS TO OTHER DIP ACCOUNTS
  $ 0.00  
   
    DISBURSEMENTS
  $ 0.00  

    TOTAL DISBURSEMENTS THIS PERIOD***:
  $ 0.00  
         
 
7.  
ENDING BALANCE:
  $ 0.00  
             
8.  
GENERAL ACCOUNT NUMBER                                                  
       
   
DEPOSITORY NAME AND LOCATION Bank of America, 1655 Grant Street Bldg A, 10th Floor,
Concord, CA 94520-2445                                                                                     
       
 

 
 
1
 
 
 

TOTAL DISBURSEMENTS FROM GENERAL ACCOUNT FOR CURRENT PERIOD
 
DATE
CHECK NUMBER
PAYEE
PURPOSE
AMOUNT
       
 
       
 
       
 
       
 
       
 
       
 
       
 
       
 
       
 
       
 
       
 
       
 
       
 
       
 
       
 
       
 
       
 
       
 
       
 
         
 
TOTAL DISBURSEMENTS THIS PERIOD          $      0.00
Add additional pages as necessary to include all disbursements.
 
 
 
2
 
 
 

 
GENERAL ACCOUNT
BANK RECONCILIATION*
 
Balance per bank statement dated:    10/31/11                             
$
0.00

Plus deposits in transit (a):

Deposit Date
Deposit Amount
__________
$_____________
__________
$_____________
__________
$_____________

Total deposits in transit
   

Less outstanding checks (a):

Check Number
 
Check Date
 
Check Amount
 
 
 
 
 
         
         
         
         
         
         
         
         
         

Total outstanding checks
 
<0.00>
 
       
Bank statement adjustments**
     
       
Adjusted bank balance
  $ 0.00  
 
 
 

 
 
*
It is acceptable to attach lists of deposits in transit and outstanding checks to this form or to replace this form with a similar form.
 
**Please attach a detailed explanation of any bank statement adjustment.
 

 
 
3
 
 
 

I. CASH RECEIPTS AND DISBURSEMENTS
A.2 (TORREY PINES BANK ACCOUNT)

1.  
TOTAL RECEIPTS PER ALL PRIOR GENERAL ACCOUNT REPORTS
  $ 8,648,122.53  
         
2.  
LESS: TOTAL DISBURSEMENTS PER ALL PRIOR
GENERAL ACCOUNT REPORTS
   8,558,538.34  
             
3.  
BEGINNING BALANCE:
  $ 89,584.19  

4.  
RECEIPTS DURING CURRENT PERIOD:
   
             
   
ACCOUNTS RECEIVABLE - PRE-FILING
  $ 0.00  
   
ACCOUNTS RECEIVABLE - POST-FILING
  $ 0.00  
   
GENERAL SALES
  $ 0.00  
   
OTHER (SPECIFY) Payments on residual interests
  $ 18,211.82  
    OTHER (SPECIFY) Account refunds    0.00  
   
OTHER (SPECIFY) Transfer from money market account
  $ 280,343.11  
 
   
TOTAL RECEIPTS THIS PERIOD:
  $ 298,554.93  
5.  
BALANCE:
  $ 388,139.12  

6.  
LESS: TOTAL DISBURSEMENTS DURING CURRENT PERIOD
 
       
   
    TRANSFERS TO OTHER DIP ACCOUNTS
  $ 13,957.02  
   
    DISBURSEMENTS
  $ 280,325.05  

    TOTAL DISBURSEMENTS THIS PERIOD:
  $ 294,282.07  
         
 
7.  
ENDING BALANCE:
  $ 93,857.05  
             
8.  
GENERAL ACCOUNT NUMBER                                                  
       
   
DEPOSITORY NAME AND LOCATION Torrey Pines Bank, 4350 Executive Drive, Suite 130,
San Diego, CA 92121                                                                                     
       
 
 
 
 
4
 
 
 


TOTAL DISBURSEMENTS FROM GENERAL ACCOUNT FOR CURRENT PERIOD
 
DATE
CHECK NUMBER
PAYEE
PURPOSE
AMOUNT
10/03/11
1299
Ace Parking Management
Parking services
125.00
10/04/11 1300 Takeo Sasaki Consulting -- accounting services
1,176.00
10/03/11 1301 Verizon Wireless Telephone services
170.32
10/03/11 1302 Public Storage Storage services
211.00
10/05/11 1303 888 Prospect LJ, LLC Office rent
5,205.13
10/17/11 1304 Time Warner Cable Internet services
390.54
10/19/11 1305 Stutman, Treister & Glatt Legal fees
76,178.39
10/24/11 1306 FTI Consulting Financial Consulting services
23,328.64
10/20/11 1307 Akin Gump Strauss Hauer & Feld Legal fees
151,196.25
10/17/11 1308 Ernst & Young Auditing services
1,264.00
10/20/11 1309 Epiq Systems Solicitation services
14,079.18
10/20/11 1310 Epiq Systems Solicitation services
6,990.60
10/25/11 Bank Debit Torrey Pines Bank Wire transfer fee
10.00
       
 
       
 
       
 
       
 
         
         
 
       TOTAL DISBURSEMENTS THIS PERIOD                                 $ 280,325.05
Add additional pages as necessary to include all disbursements.
 
 
 
6
 
 
 
 

 
GENERAL ACCOUNT
BANK RECONCILIATION*
 
Balance per bank statement dated:    10/31/11                             
$
93,857.05

Plus deposits in transit (a):

Deposit Date
Deposit Amount
__________
$_____________
__________
$_____________
__________
$_____________

Total deposits in transit
   

Less outstanding checks (a):

Check Number
 
Check Date
 
Check Amount
1135
 
01/05/11
 
$1,400.00
1311   10/28/11   $5,205.13
1312   10/28/11   $125.00
1313   10/28/11    $3,633.57
1314   10/28/11   $179.26
1315   10/28/11    $1,146.00
1316   10/28/11   $210.00
1317   10/28/11   $214.62
1318   10/28/11   $108.29
         
         
         
         

Total outstanding checks
 
<12,221.87
       
Bank statement adjustments**
     
       
Adjusted bank balance
  $ 81,635.18  
 
 
 

 
 
*
It is acceptable to attach lists of deposits in transit and outstanding checks to this form or to replace this form with a similar form.
 
**Please attach a detailed explanation of any bank statement adjustment.
 

 
 
 
 
 
7
 
 
 
I. CASH RECEIPTS AND DISBURSEMENTS (Continued)
B.1 (BANK OF AMERICA PAYROLL ACCOUNT)
 
1.  
TOTAL RECEIPTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS
  $ 117,770.84  
             
2.  
LESS: TOTAL DISBURSEMENTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS
  $ 117,770.84  
             
3.  
BEGINNING BALANCE
  $ 0.00  
             
4.  
RECEIPTS:
    TRANSFERRED FROM GENERAL ACCOUNT
  $ 0.00  
             
5.  
BALANCE
  $ 0.00  
             
6.  
LESS: DISBURSEMENTS DURING CURRENT PERIOD
       

 
DATE
CHECK NO.
PAYEE
AMOUNT
       
       
       
       
       
       
       
       
       
       
       
       

TOTAL DISBURSEMENTS THIS PERIOD:
  $ 0.00  
 
7.  
ENDING BALANCE:
  $ 0.00  
8.  
PAYROLL ACCOUNT NUMBER                                                                                 
DEPOSITORY NAME AND LOCATION Bank of America, 1655 Grant Street Bldg A, 10th Floor,
Concord, California 94500-2455                                                                                      
       

 
 
8
 
 
 

PAYROLL ACCOUNT
BANK RECONCILIATION*
 
Balance per bank statement dated:  10/31/11                                      
  $ 0.00  

Plus deposits in transit (a):

Deposit Date
Deposit Amount
__________
$_____________
__________
$_____________
__________
$_____________

Total deposits in transit
 
0.00

Less outstanding checks (a):
 
Check Number
 
Check Date
 
Check Amount
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         

    Total outstanding checks
 
<0.00>
 
       
Bank statement adjustments**
     
       
Adjusted bank balance
  $ 0.00  

 
 
 
9
 
 

 
I. CASH RECEIPTS AND DISBURSEMENTS (Continued)
B.2 (TORREY PINES PAYROLL ACCOUNT)
 
1.  
TOTAL RECEIPTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS
  $ 481,019.53  
             
2.  
LESS: TOTAL DISBURSEMENTS PER ALL PRIOR PAYROLL ACCOUNT REPORTS
  $ 479,925.25  
             
3.  
BEGINNING BALANCE
  $ 1,094.28  
             
4.  
RECEIPTS:
    TRANSFERRED FROM OTHER ACCOUNT
      (Torrey Pines Bank general and money market account)
  $ 13,957.02  
             
5.  
BALANCE
  $ 15,051.30  
             
6.  
LESS: DISBURSEMENTS DURING CURRENT PERIOD
       

 
DATE
CHECK NO.
PAYEE
AMOUNT
10/13/11 Payroll fee NPS Payroll Services 58.00
10/13/11 Transfer payroll 10/1 to 10/15 NPS Payroll Services 1,877.79
10/13/11 Transfer payroll 10/1 to 10/15 NPS Payroll Services 5,037.72
10/28/11 Payroll fee NPS Payroll Services 68.00
10/28/11 Transfer payroll 10/16 to 10/31 NPS Payroll Services 1,877.79
10/28/11 Transfer payroll 10/16 to 10/31 NPS Payroll Services 5,037.72
       
       
       
       

TOTAL DISBURSEMENTS THIS PERIOD:
  $ 13,947.02  
 
7.  
ENDING BALANCE:
  $ 1,094.28  
8.  
PAYROLL ACCOUNT NUMBER                                                                                 
DEPOSITORY NAME AND LOCATION Torrey Pines Bank, 4350 Executive Drive, Suite 130,
San Diego, California 92121                                                                                      
       

 
 
10
 
 
 

PAYROLL ACCOUNT
BANK RECONCILIATION*
 
Balance per bank statement dated:  10/31/11                                      
  $ 1,094.28  

Plus deposits in transit (a):

Deposit Date
Deposit Amount
__________
$_____________
__________
$_____________
__________
$_____________

Total deposits in transit
 
0.00

Less outstanding checks (a):
 
Check Number
 
Check Date
 
Check Amount
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         

    Total outstanding checks
 
<0.00>
 
       
Bank statement adjustments**
     
       
Adjusted bank balance
  $ 1,094.28  


 
*
It is acceptable to attach lists of deposits in transit and outstanding checks to this form or to replace this form with a similar form.
 
**Please attach a detailed explanation of any bank statement adjustment.
 
 
 
11
 
 


I. CASH RECEIPTS AND DISBURSEMENTS (Continued)
C. (TAX ACCOUNT)
 
1.  
TOTAL RECEIPTS PER ALL PRIOR TAX ACCOUNT REPORTS
  $ 30,029,775.22  
             
2.  
LESS:  TOTAL DISBURSEMENTS PER ALL PRIOR TAX ACCOUNT REPORTS
  $ 0.00  
             
3.  
BEGINNING BALANCE
  $ 30,029,775.22  
             
4.  
RECEIPTS:
TAX REFUNDS
  $ 0.00  
             
    OTHER - Interest    $  12,754.99  
             
5.  
BALANCE
  $ 30,042,530.21  
             
6.  
LESS: DISBURSEMENTS DURING CURRENT PERIOD
       

DATE
CHECK NO.
PAYEE
AMOUNT
       
       
       

TOTAL DISBURSEMENTS THIS PERIOD:
  $ 0.00  
 
7.  
ENDING BALANCE:
  $ 30,042,530.21  
             
8.  
TAX ACCOUNT NUMBER                                                                                                           
       
   
DEPOSITORY NAME AND LOCATION Torrey Pines Bank, 4350 Executive Drive, Suite 130
San Diego, CA 92121                                                                                                       
       
 
 
 
12
 
 
 
 

TAX ACCOUNT
BANK RECONCILIATION*
 
Balance per bank statement dated:  10/31/11                                     
  $ 30,042,530.21  

Plus deposits in transit (a):

Deposit Date
Deposit Amount
__________
$_____________
__________
$_____________
__________
$_____________

Total deposits in transit
 
0.00

Less outstanding checks (a):
 
Check Number
 
Check Date
 
Check Amount
         
         
         
         
         
         
         
         
         
         
         
         
         
         
         

    Total outstanding checks
 
<0.00>
 
       
Bank statement adjustments**
     
       
Adjusted bank balance
  $ 30,042,530.21  

 
 
 

 
 
13
 
 
D. SUMMARY SCHEDULE OF CASH

ENDING BALANCE FOR PERIOD:

GENERAL ACCOUNT - Bk of America
  $ 0.00  
GENERAL ACCOUNT - Torrey Pines Bk     81,635.18  
PAYROLL ACCOUNT - Bk of America
  $ 0.00  
PAYROLL ACCOUNT - Torrey Pines Bk     1,094.28  
TAX ACCOUNT - Torrey Pines Bk
  $ 30,042,530.21  
OTHER ACCOUNTS*:
  Torrey Pines Bank
  4350 Executive Drive, Suite 130
  San Diego, CA 92121
  Money Market Account                                        
  $  1,660,472.59  
 
 Torrey Pines Bank
  4350 Executive Drive, Suite 130
  San Diego, CA 92121
  Rabbi Trust Assets
  Money Market Account                                        
   6,933,824.32  
OTHER MONIES*:_______________
  $    
PETTY CASH**
  $  250.00  
TOTAL CASH AVAILABLE
  $ 38,719,806.58  
    NOTE: Attach copies of monthly accounts statements from financial institutions for each account.
 
 

 
 
14
 
 
 

II. STATUS OF PAYMENTS TO SECURED CREDITORS, LESSORS,
AND OTHER PARTIES TO EXECUTORY CONTRACTS
 
CREDITOR, LESSOR, ETC.
FREQUENCY OF PAYMENTS
(Mo./Qtr.)
AMOUNT OF PAYMENT
POST-PETITION PAYMENTS NOT MADE (NUMBER)
TOTAL DUE
888 Prospect LJ, LLC
 Monthly  $5,205.13  None  None
         
         
         
     
TOTAL DUE
  None

III. TAX LIABILITIES
 
FOR THE REPORTING PERIOD:
GROSS SALES SUBJECT TO SALES TAX
  $  0  
TOTAL WAGES PAID
  $  12,333.34  

 
TOTAL POST-PETITION AMOUNTS OWING
AMOUNT DELINQUENT
DATE DELINQUENT AMOUNT DUE
FEDERAL WITHHOLDING
$ 0.00
$0.00
 
STATE WITHHOLDING
$
$
 
FICA - EMPLOYER'S SHARE
$
$
 
FICA - EMPLOYEE'S SHARE
$
$
 
FEDERAL UNEMPLOYMENT
$
$
 
STATE WITHHOLDING
$
$
 
SALES AND USE
$
$
 
REAL PROPERTY
$
$
 
OTHER: (SPECIFY)
$
$
 
TOTAL:
$
$
 

 
 
15
 
 

 

IV. AGING OF ACCOUNTS PAYABLE AND ACCOUNTS RECEIVABLE
 
 
ACCOUNTS PAYABLE*
(POST-PETITION ONLY)
    ACCOUNTS
    Pre-Petition
    RECEIVABLE
    Post-Petition
30 days or less
None
None  None 
31 - 60 days
     
61 - 90 days
     
91 - 120 days
     
Over 120 days
     
TOTALS:
     

V. INSURANCE COVERAGE
 
   
NAME OF
CARRIER
AMOUNT OF COVERAGE
POLICY
EXPIRATION
DATE
PREMIUM PAID
THROUGH:
General Liability
 
Hartford
$1,000,000/occurrence
3/15/12  3/15/12 
Worker Compensation
  State Fund  $1,000,000/occurrence  2/15/12  8/15/11
 
         
           
           

VI. UNITED STATES TRUSTEE QUARTERLY FEES
(TOTAL PAYMENTS)
 
Qtrly Period Ending
Total Disbursements
Qtrly Fees
Date Paid
Amount Paid
Qtrly Fee Still Owing
12/31/09
 $3,100.00  $325.00  01/29/10  $325.00  $0.00
3/31/10   $165,607.22  $1,625.00
 04/07/10,
 05/13/10 
 $325.00,
 $1,300.00 
 $0.00
6/30/10   $260,256.53  $1,950.00  08/17/10   $1,950.00  $0.00
9/30/10   $708,521.61  $4,875.00  11/19/10  $4,875.00  $0.00
12/31/10   $1,206,199.31  $6,500.00  03/09/11  $6,500.00  $0.00
03/31/11  $807,345.48  $4,875.00  05/19/11  $4,875.00  $0.00
06/30/11   $658,623.79   $4,875.00   08/03/11  $4,875.00  $0.00
09/30/11   $734,784.89   $4,875.00   11/02/11  $4,875.00  $0.00 

 
*Post-Petition Accounts Payable should not include professionals' fees and expenses which have been incurred but not yet awarded by the Court. Post-Petition Accounts Payable should include professionals' fees and expenses authorized by Court Order but which remain unpaid as of the close of the period of the report.
 

 
 
16
 
 

VII.    SCHEDULE OF COMPENSATION PAID TO INSIDERS
 
Name of Insider
Date of Order Authorizing Compensation
Authorized Gross Compensation*
Gross Compensation Paid During the Month
Anthony Rusnak  3/11/10 $148,000/year, plus additional amount in insider compensation request 
$12,333.34
 
       
       
       
 
* Please indicate how compensation was identified in the order (e.g., $1,000/wk, $2,500/mo)


VIII.   SCHEDULE OF OTHER AMOUNTS PAID TO INSIDERS
 
Name of Insider
Date of Order Authorizing Payment
 
Description
Amount Paid During the Month
None
     
       
       
       




 
17
 
 

IX. PROFIT AND LOSS STATEMENT
(ACCRUAL BASIS ONLY)
 
   
Current Month
   
Cumulative Post-Petition
 
Sales/Revenue:
           
Gross Sales/Revenue
    0.00       0.00  
Less: Returns/Discounts
    (0.00 )     (0.00 )
Net Sales/Revenue
    0.00       0.00  
                 
Cost of Goods Sold:
               
Beginning Inventory at cost Purchases
    0.00       0.00  
Less: Ending Inventory at cost
    (0.00 )     (0.00 )
Cost of Goods Sold (COGS)
    0.00       0.00  
                 
Gross Profit
               
Other Operating Income (Itemize)
    0.00       0.00  
                 
Operating Expenses:
               
Payroll - Insiders
    13,633.34       439,860.41  
Payroll - Other Employees
    0.00       128,944.97  
Payroll Taxes
    197.68       40,303.03  
Other Taxes (Itemize)
    0.00       0.00  
Depreciation and Amortization
    0.00       0.00  
Lease Expense
    5,205.13       130,072.29  
Insurance
    0.00       187,184.83  
Telephone and Utilities
    784.42       21,351.79  
Repairs, Maintenance, Janitorial, Office, Plant Service
    210.00       12,784.88  
Travel and Entertainment (Itemize)
               
          Mileage, Parking and Auto       0.00       4,653.30  
          Meals      0.00       868.42  
          Airfare      0.00       12,500.00  
          Miscellaneous Operating Expenses (Itemize)                 
          Insurance - Employees      108.29       (136,144.58 )
    Salary Savings Plan Expense       0.00        12,223.20  
          Workers Compensation Insurance      0.00       6,851.83  
          Parking Services      125.00       8,550.00  
          Storage and Moving      0.00       12,786.00  
          Bank Service Charges      10.00       3,963.68  
          Payroll Fees      126.00       3,437.13  
          Office Supplies      0.00       485.21  
          Postage and Shipping      0.00       2,141.15  
    Dues and Subscriptions       0.00        1,254.00  
          Employee Expense      0.00       (58.05 )
          Advertising      0.00       (3,200.00 )
          Taxes and Licenses      0.00       1,214.00  
          Fines, Penalties and Late Charges      0.00        2,815.63  
    Director Expense       0.00        10,000.00  
          US Trustee Fees      0.00       23,405.58  
Total Operating Expenses
    20,399.86       928,248.70  
                 
Net Gain/(Loss) from Operations
     (20,399.86      (928,248.70
                 
Non-Operating Income:
               
Interest on Cash Accounts
    17,553.07       199,346.84  
Gain (Loss) on Sale of Assets
    0.00       29,384.84  
 
               
 
 
 
18
 
 
 
 
 
    Prudential Stock Dividends     0.00      1,332.10  
    Mark to Market on CSV of Life Insurance Policies     0.00      158,385.18  
    Income Taxes     0.00      2,703,141.71  
          Interest on Income Tax Refunds    0.00     588,627.56  
   Total Non-Operating income   17,553.07     3,680,218.23  
             
Non-Operating Expenses:
           
Interest Expense
    0.00       0.00  
Legal Expense
    250,159.49       4,266,542.35  
Audit and Accounting
    5,827.34       651,614.82  
          Consulting      32,816.20       151,758.46  
          Other (Itemize)      0.00       (2,872.17
Total Non-Operating Expenses
    288,803.03       5,067,043.46  
NET INCOME/(LOSS)
    (291,649.82     (2,315,073.93
(Attach exhibit listing all itemizations required above)
 

 
 
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X. BALANCE SHEET
(ACCRUAL BASIS ONLY)
 
   
Current Month End
       
ASSETS
           
Current Assets:
           
Unrestricted Cash
    38,719,806.58        
          Security Deposit Held by Landlord      30,971.51        
Total Current Assets
            38,750,778.09  
                 
Other Assets (Net of Amortization):
               
Due from Insiders
    0.00          
Other (Itemize)
               
          Cash Improperly Withheld in former ICB account
          (City National Bank) 
    47,285.39          
          Residual Interest in Securities      103,631.57          
          Investment in ITLA Mortgage Loan
          Securitization 2002-1
    75,000.00          
          Current and Deferred Income Taxes      6,989.46          
          Delaware Franchise Taxes      99,945.00          
          Prepaid Expenses, Net      36,464.00          
          Interests in Insurance Policies      441,240.00          
          Other      35,873.82          
                 
Total Other Assets
            846,429.24  
                 
TOTAL ASSETS
            39,597,207.33  
                 
LIABILITIES
               
Postpetition Liabilities:
               
Accounts Payable
    0.00          
Taxes Payable
    0.00          
Professional fees
    0.00          
Secured Debt
    0.00          
Total Postpetition Liabilities
            0.00  
                 
Prepetition Liabilities:
               
Secured Liabilities
    0.00          
Priority Liabilities
    0.00          
Unsecured Liabilities
    99,749,052.34          
 
Total Prepetition Liabilities
          99,749,052.34  
TOTAL LIABILITIES
          99,749,052.34  
               
EQUITY:
             
Prepetition Owners' Equity
    (57,741,774.08        
Postpetition Profit/(Loss)
    (2,315,073.93        
Direct Charges to Equity
    (94,997.00        
TOTAL EQUITY
            (60,151,845.01
                 
TOTAL LIABILITIES & EQUITY
            39,597,207.33  
 
 
 
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XI. QUESTIONNAIRE
 
1.
Has the debtor-in-possession made any payments on its pre-petition unsecured debt, except as have been authorized by the court?
X        No.
____   Yes.   Explain ________________________________________________________________________________________________
_________________________________________________________________________________________________________________

 
2.
Has the debtor-in-possession during this reporting period provided compensation or remuneration to any officers, directors, principals, or other insiders without appropriate authorization?
X         No.
_____  Yes.  Amount, to whom, and for what period? _______________________________________________________________________________
______________________________________________________________________________________________________________________________

 
3.       State what progress was made during the reporting period toward filing a plan of reorganization:

On October 27, 2011, the Debtor and HoldCo Advisors L.P. filed their (1) Chapter 11 Plan of Reorganization Proposed by HoldCo Advisors L.P. and Debtor Imperial Capital Bancorp, Inc., a Delaware Corporation Dated October 27, 2011 and (2) Disclosure Statement Re: Chapter 11 Plan of Reorganization Proposed by HoldCo Advisors L.P. and Debtor Imperial Capital Bancorp, Inc., a Delaware Corporation, dated October 27, 2011.  A hearing to consider the adequacy of the Disclosure Statement has been set for December 20, 2011.
 
 
4.        Describe potential future developments which may have a significant impact on the case.

The Debtor has filed two adversary proceedings against the FDIC-R, and has objected to the proofs of claim asserted by the FDIC-R.  The outcome of the Debtor/FDIC-R litigation will determine the amount available for distribution to creditors.
                                                                                                                                                                                                                                       
 
 
5.
Attach copies of all Orders granting relief from the automatic stay that were entered during the reporting period.  NONE
 
6.        Did you receive any exempt income this month, which is not set forth in the operating report?
           X       No.
           ____  Yes. Please set forth the amounts and the source of the income.
    ______________________________________________________________________________________________________________________
    ______________________________________________________________________________________________________________________
    ______________________________________________________________________________________________________________________
 
    I, Anthony Rusnak, Chief Operating Officer (Name and title), declare under penalty of perjury that I have fully read and understood the foregoing debtor-in-possession operating report and that the information contained herein is true and complete to the best of my knowledge.

Date:  November 21, 2011                                     
   
/s/ Anthony Rusnak
 
     
Principal for debtor-in-possession
 



 
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