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<P style="font-size: 14pt" align="center"><B>UNITED STATES<BR>
SECURITIES AND
EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P style="font-size: 18pt" align="center"><B>FORM 8-K</B>

<P style="font-size: 12pt" align="center"><B>CURRENT REPORT<BR>
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P style="font-size: 10pt" align="center"><B>Date of Report (Date of earliest
event reported): September 17, 2008</B>


<P style="font-size: 24pt" align="center"><B>CORUS BANKSHARES,
INC.<BR>
</B><FONT style="font-size: 10pt">(Exact name of registrant as
specified in its charter) </FONT>
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  <TD width="32%">&nbsp;</TD>
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  <TD style="border-bottom: #000000 1px solid"><B>Minnesota</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>0-06136</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>41-0823592</B></TD>
 </TR>
 <TR valign="top">
  <TD>(State or other Jurisdiction of Incorporation)</TD>
  <TD>&nbsp;</TD>
  <TD>(Commission File Number)</TD>
  <TD>&nbsp;</TD>
  <TD>(IRS Employer Identification No.)</TD>
 </TR>

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  <TD style="border-bottom: #000000 1px solid"><B>3959 N. Lincoln Ave.,
Chicago, Illinois<BR>
</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>60613</B></TD>
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 <TR valign="top">
  <TD>(Address of Principal Executive Offices)</TD>
  <TD>&nbsp;</TD>
  <TD>(Zip Code)</TD>
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<P style="font-size: 10pt" align="center">Registrant&#8217;s telephone number,
including area code: <B>(773) 832-3088</B>
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  <TD style="border-bottom: #000000 1px solid" nowrap><B>&nbsp;</B></TD>
 </TR>
 <TR>
  <TD nowrap>(Former name or former address if changed since last report.)</TD>
 </TR>

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<P style="font-size: 10pt" align="left">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:

<P style="font-size: 10pt" align="left"><FONT face="Wingdings">o</FONT> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)<BR>
<BR>
<FONT face="Wingdings">o</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P style="display: none; font-size: 10pt" align="center">1
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  <TD nowrap align="left" width="3%"><B>ITEM 1.02:</B></TD>
  <TD width="1%">&nbsp;</TD>
  <TD><B>Termination of a Material Definitive Agreement.</B></TD>
 </TR>

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<P style="font-size: 10pt" align="left">On September&nbsp;17, 2008, Corus
Bankshares, Inc. (&#8220;Corus&#8221; or the &#8220;Company&#8221;) terminated
the Company&#8217;s loan agreement with LaSalle Bank, N.A.
(&#8220;LaSalle&#8221;), a subsidiary of Bank of America Corporation. The loan
agreement, which was originally dated June&nbsp;26, 2001 and last amended
March&nbsp;31, 2008, provided Corus with a $50,000,000 revolving line of
credit. As of June&nbsp;30, 2008, the line of credit had a $32.5&nbsp;million
balance.

<P style="font-size: 10pt" align="left">The loan agreement was cancelled at
Corus&#8217; request. Although the loan agreement allowed for Corus to use the
line of credit for any general corporate purpose, it had historically been used
to fund loan participations entered into by the holding company with its
wholly-owned subsidiary, Corus Bank, N.A. (the &#8220;Bank&#8221;). Loan
participations between the holding company and the Bank have declined
significantly over the past year, and management anticipates that the holding
company would enter into few, if any, new loan participations with the Bank.

<P style="font-size: 10pt" align="left">Interest payments were due quarterly
and were computed at an annual interest rate of LIBOR plus 1.40% on any
outstanding balances. There were no fees associated with terminating the loan
agreement before its scheduled maturity (February&nbsp;28, 2010). The loan
agreement had been collateralized by 100% of the common stock of the Bank.

<P style="font-size: 10pt" align="left">In addition to previously having
provided numerous credit facilities to Corus over many years, LaSalle continues
to provide various correspondent banking activities on Corus&#8217; behalf.

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">2
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<P style="font-size: 10pt" align="center"><B>SIGNATURE</B>

<P style="font-size: 10pt" align="left">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 hereunto duly authorized.

<P style="font-size: 10pt; margin-left: 45%" align="left">CORUS BANKSHARES,
INC. <BR>
(Registrant)

<P style="font-size: 10pt" align="left">September&nbsp;22, 2008

<P style="margin-top: -11pt; font-size: 10pt; margin-left: 45%"
align="left">By: <U><B>/</B>s/ Michael E.
Dulberg&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
Michael E. Dulberg <BR>
Senior Vice President and <BR>
Chief Accounting
Officer <BR>
(Principal Accounting Officer and <BR>
duly authorized Officer of
Registrant)

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<P style="display: none; font-size: 10pt" align="center">3
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{"company-data": {"conformed-name": "CORUS BANKSHARES INC", "cik": "0000051939", "assigned-sic": "6021", "irs-number": "410823592", "state-of-incorporation": "MN", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-06136", "film-number": "081083106"}, "business-address": {"street1": "3959 N LINCOLN AVE", "street2": "LINCOLN NATIONAL BANK BLDG", "city": "CHICAGO", "state": "IL", "zip": "60613", "phone": "3125497100"}, "mail-address": {"street1": "3959 N LINCOLN AVE", "city": "CHICAGO", "state": "IL", "zip": "60613"}, "former-company": [{"former-conformed-name": "RIVER FOREST BANCORP INC", "date-changed": "19920703"}, {"former-conformed-name": "INVESTMENT CORP OF AMERICA INC", "date-changed": "19820422"}]}
Filed by Bowne Pure Compliance
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest
event reported): September 17, 2008
CORUS BANKSHARES,
INC.
(Exact name of registrant as
specified in its charter)
Minnesota
0-06136
41-0823592
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
3959 N. Lincoln Ave.,
Chicago, Illinois
60613
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number,
including area code:
(773) 832-3088
(Former name or former address if changed since last report.)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 1.02:
Termination of a Material Definitive Agreement.
On September 17, 2008, Corus
Bankshares, Inc. ("Corus" or the "Company") terminated
the Company's loan agreement with LaSalle Bank, N.A.
("LaSalle"), a subsidiary of Bank of America Corporation. The loan
agreement, which was originally dated June 26, 2001 and last amended
March 31, 2008, provided Corus with a $50,000,000 revolving line of
credit. As of June 30, 2008, the line of credit had a $32.5 million
balance.
The loan agreement was cancelled at
Corus' request. Although the loan agreement allowed for Corus to use the
line of credit for any general corporate purpose, it had historically been used
to fund loan participations entered into by the holding company with its
wholly-owned subsidiary, Corus Bank, N.A. (the "Bank"). Loan
participations between the holding company and the Bank have declined
significantly over the past year, and management anticipates that the holding
company would enter into few, if any, new loan participations with the Bank.
Interest payments were due quarterly
and were computed at an annual interest rate of LIBOR plus 1.40% on any
outstanding balances. There were no fees associated with terminating the loan
agreement before its scheduled maturity (February 28, 2010). The loan
agreement had been collateralized by 100% of the common stock of the Bank.
In addition to previously having
provided numerous credit facilities to Corus over many years, LaSalle continues
to provide various correspondent banking activities on Corus' behalf.
SIGNATURE
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 hereunto duly authorized.
CORUS BANKSHARES,
INC.
(Registrant)
September 22, 2008
By:
/
s/ Michael E.
Dulberg
Michael E. Dulberg
Senior Vice President and
Chief Accounting
Officer
(Principal Accounting Officer and
duly authorized Officer of
Registrant)