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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1072847	Tower Financial Corp	TOFC	State Commercial Banks (6022)	352051170

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1195961	D Joseph Ruffolo	2820 Chichester Lane Fort Wayne IN 46815		Yes	No	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2010-08-23	15,748	$6.35	16,748	No	4	P	Indirect	Spouse

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	Spouse

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	15,035	Indirect	Joseph D Ruffolo Revocable Trust
Common Stock	19,035	Direct
Common Stock	100	Indirect	Children

Reported Derivative Holdings

Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Series A Convertible Preferred Stock	$6.02	2009-09-25		12,459	750	Direct
Common Stock	Series A Convertible Preferred Stock	$6.02	2009-09-25		12,458	750	Indirect

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
	12,459	750	Direct
	12,458	750	Indirect

Footnotes

Shares of common stock purchased in connection with the Issuer's July 2010 private placement transaction, in accordance with the Subscription Agreement, dated July 19, 2010, between the Issuer and the Reporting Person. The proceeds of such transaction were held in escrow pending approval from the Federal Reserve Bank. Such approval was received and the funds were released.
The Series A preferred stock has no expiration date; however, Tower Financial Corp has the right to call the shares on or after September 25, 2012 and until September 24, 2013 at 110% of par, after September 25, 2013 and until September 24, 2014 at 105% of par, and at par after September 25, 2014.