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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): November 18, 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)
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    <TD width="32%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
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    <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>
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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 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>
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<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">CORUS BANKSHARES, INC.


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


<P align="left" style="margin-right:1%; font-size: 10pt">On November&nbsp;18, 2008, Corus Bankshares, Inc. (the &#147;Company&#148;) announced by press release that its Board of Directors
(the &#147;Board&#148;) elected to defer interest payments on the Company&#146;s $404.6&nbsp;million of junior subordinated debentures
relating to its trust preferred securities.


<P align="left" style="font-size: 10pt">The terms of the debentures and trust indentures allow for the Company to defer interest payments for up to 20
consecutive quarters. As such, the deferral of interest does not constitute a default. During the period that the
interest deferrals have been elected, the Company will continue to record the expense associated with the debentures.
Upon the expiration of the deferral period, all accrued and unpaid interest is due and payable. During the deferral
period, the Company is precluded from paying dividends to shareholders or repurchasing its stock. On April&nbsp;29, 2008,
the Company announced that the Board had suspended the payment of dividends on common stock.


<P align="left" style="font-size: 10pt">The Company also disclosed that the Company submitted its application under the U.S. Treasury Department Troubled Asset
Relief Program Capital Purchase Program on November&nbsp;14, 2008. The Company has not yet received a response relating to
its application.


<P align="left" style="font-size: 10pt">A copy of the press release is filed as Exhibit&nbsp;99.1 and 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;No.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Description</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
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</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press release dated November&nbsp;18, 2008</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>
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    <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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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">November&nbsp;21, 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 and duly authorized<br>
Officer of Registrant)</TD>
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<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>


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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;No.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Description</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press release dated November&nbsp;18, 2008</TD>
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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": "081205883"}, "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): November 18, 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))
CORUS BANKSHARES, INC.
ITEM 8.01: Other Events
On November 18, 2008, Corus Bankshares, Inc. (the "Company") announced by press release that its Board of Directors
(the "Board") elected to defer interest payments on the Company's $404.6 million of junior subordinated debentures
relating to its trust preferred securities.
The terms of the debentures and trust indentures allow for the Company to defer interest payments for up to 20
consecutive quarters. As such, the deferral of interest does not constitute a default. During the period that the
interest deferrals have been elected, the Company will continue to record the expense associated with the debentures.
Upon the expiration of the deferral period, all accrued and unpaid interest is due and payable. During the deferral
period, the Company is precluded from paying dividends to shareholders or repurchasing its stock. On April 29, 2008,
the Company announced that the Board had suspended the payment of dividends on common stock.
The Company also disclosed that the Company submitted its application under the U.S. Treasury Department Troubled Asset
Relief Program Capital Purchase Program on November 14, 2008. The Company has not yet received a response relating to
its application.
A copy of the press release is filed as Exhibit 99.1 and is incorporated herein by reference.
ITEM 9.01: Financial Statements and Exhibits
(d) Exhibits
Exhibit No.
Description
99.1
Press release dated November 18, 2008
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)
November 21, 2008
By:
/s/ Michael E. Dulberg
Michael E. Dulberg
Executive Vice President and Chief Financial Officer
(Principal Financial and duly authorized
Officer of Registrant)
EXHIBIT INDEX
Exhibit No.
Description
99.1
Press release dated November 18, 2008