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

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

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

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): October 13, 2008</B>

<P align="center">

<P align="center" style="font-size: 24pt"><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>
    <TD width="1%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>Minnesota</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>0-06136</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><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>
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    <TD width="49%">&nbsp;</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>3959 N. Lincoln Ave., Chicago, Illinois<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>60613</B></TD>
</TR>
<TR valign="top">
    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
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<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(773) 832-3088</B>


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    <TD nowrap style="border-bottom: 1px solid #000000"><B>Not Applicable<BR></B></TD>
</TR>
<TR>
    <TD nowrap>(Former name or former address if changed since last report.)</TD>
</TR>
</TABLE>

<P align="left" style="font-size: 10pt">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 align="left" style="font-size: 10pt">
<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</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">&#111;</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 align="left" style="font-size: 10pt"><B>ITEM 5.03: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.</B>


<P align="left" style="font-size: 10pt; text-indent: 4%">On October&nbsp;13, 2008, the Board of Directors (the &#147;Board&#148;) of Corus Bankshares, Inc. (&#147;Corus&#148; or the &#147;Company&#148;)
approved an amendment to the indemnification section (Article&nbsp;IV) of Corus&#146; bylaws. The amendment changes the
provisions related to selection of counsel, control of defense, and expense reimbursement.


<P align="left" style="font-size: 10pt">A copy of the amended bylaws is furnished herewith as Exhibit&nbsp;3(ii) to this Current Report on Form 8-K and is
incorporated herein by reference.


<P align="left" style="font-size: 10pt"><B>ITEM 8.01: Other Events.</B>


<P align="left" style="font-size: 10pt; text-indent: 4%">In connection with the amendment to the bylaws, the Board amended the form of indemnification agreement (the
&#147;Indemnity Agreement&#148;) as well. The amended Indemnity Agreement will replace the agreement previously in place for the
Board. In addition, the Board approved offering Indemnity Agreements to certain officers of the Company and its
subsidiary. The Board gave Corus&#146; Chief Executive Officer, Robert J. Glickman, sole discretion as to which officers
would be offered the Indemnity Agreement, but limited the offer to ten officers.


<P align="left" style="font-size: 10pt">The Indemnity Agreement requires the Company, among other things, to indemnify each indemnitee to the fullest extent
permitted by law for certain expenses incurred in a proceeding arising out of the indemnitee&#146;s service to the Company
or its subsidiaries. The indemnification agreement also provides for the advancement of such expenses to the
indemnitee by the Company.


<P align="left" style="font-size: 10pt">The foregoing is qualified in its entirety by reference to the form of indemnification agreement attached hereto as
Exhibit&nbsp;10.1 which is incorporated herein by reference.


<P align="left" style="font-size: 10pt"><B>ITEM 9.01: Financial Statements and Exhibits</B>


<P align="left" style="font-size: 10pt">(d)&nbsp;Exhibits

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    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3(ii)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Bylaws of Corus Bankshares, Inc.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Indemnification Agreement</TD>
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<P align="center" style="font-size: 10pt"><B>SIGNATURE</B>



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

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&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">CORUS BANKSHARES, INC.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(Registrant)</TD>
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    <TD>&nbsp;</TD>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">October&nbsp;17, 2008
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By: <u>/s/ Michael E. Dulberg</u></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Michael E. Dulberg</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Executive Vice President and Chief Financial Officer</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(Principal Financial Officer and duly authorized
Officer of Registrant)</TD>
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<P align="center" style="font-size: 10pt; display: none">3

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<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>



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    <TD width="14%">&nbsp;</TD>
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<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3(ii)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Bylaws of Corus Bankshares, Inc.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Indemnification Agreement</TD>
</TR>
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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": "081130022"}, "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): October 13, 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
Not Applicable
(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 5.03: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
On October 13, 2008, the Board of Directors (the "Board") of Corus Bankshares, Inc. ("Corus" or the "Company")
approved an amendment to the indemnification section (Article IV) of Corus' bylaws. The amendment changes the
provisions related to selection of counsel, control of defense, and expense reimbursement.
A copy of the amended bylaws is furnished herewith as Exhibit 3(ii) to this Current Report on Form 8-K and is
incorporated herein by reference.
ITEM 8.01: Other Events.
In connection with the amendment to the bylaws, the Board amended the form of indemnification agreement (the
"Indemnity Agreement") as well. The amended Indemnity Agreement will replace the agreement previously in place for the
Board. In addition, the Board approved offering Indemnity Agreements to certain officers of the Company and its
subsidiary. The Board gave Corus' Chief Executive Officer, Robert J. Glickman, sole discretion as to which officers
would be offered the Indemnity Agreement, but limited the offer to ten officers.
The Indemnity Agreement requires the Company, among other things, to indemnify each indemnitee to the fullest extent
permitted by law for certain expenses incurred in a proceeding arising out of the indemnitee's service to the Company
or its subsidiaries. The indemnification agreement also provides for the advancement of such expenses to the
indemnitee by the Company.
The foregoing is qualified in its entirety by reference to the form of indemnification agreement attached hereto as
Exhibit 10.1 which is incorporated herein by reference.
ITEM 9.01: Financial Statements and Exhibits
(d) Exhibits
Exhibit No.
Description
3(ii)
Bylaws of Corus Bankshares, Inc.
10.1
Form of Indemnification Agreement
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)
October 17, 2008
By:
/s/ Michael E. Dulberg
Michael E. Dulberg
Executive Vice President and Chief Financial Officer
(Principal Financial Officer and duly authorized
Officer of Registrant)
EXHIBIT INDEX
Exhibit No.
Description
3(ii)
Bylaws of Corus Bankshares, Inc.
10.1
Form of Indemnification Agreement