Corus Bankshares Inc. (fka CORSQ)

[eyeownu]

from CORUS 8-k 2003-07-16
http://www.sec.gov/Archives/edgar/data/51939/000095013703003810/c78244exv99.txt
ISSUANCE OF TRUST PREFERRED SECURITIES

In June 2003, Corus formed two wholly owned finance subsidiaries of the Company
for the sole purpose of issuing what are commonly referred to as Trust Preferred
securities. Trust Preferred securities are a very common form of raising
tax-advantaged capital, especially for bank holding companies. While the legal
structure of Trust Preferred securities is unfortunately quite complicated, both
the essence of these securities, and the basis for Corus' decision to utilize
them, is mercifully straightforward. Trust preferred securities are essentially
long-term debt (30-year terms) with some unique features (discussed below).


The trusts sold $47.5 million of Trust Preferred securities via a private
placement, the proceeds of which were "lent" to the Company and secured by
subordinated debentures (subordinate to all other debt of the Company's but
senior to common stock) issued by the Company to the trusts. The funds raised by
the issuance of the Trust Preferred securities were, in turn, infused into the
Bank as additional capital thus increasing the Bank's legal lending limit by
just over $7 million. The increased legal lending limit, which will allow Corus
to pursue larger loans, drove Corus' decision to pursue this financing strategy.

whoever issued these first two, safe to assume they issued the concurrent ones... thats what we need to find out