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 8, 2010

BNL FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

IOWA	0-16880	42-1239454
(State or other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

7010 Hwy 71 W., Suite 100, Austin, TX		78735
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (512) 383-0220

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 (see General Instruction A.2. below):

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 8.01 Other Events.

On October 18, 2010, the Board of Directors of BNL Financial Corporation, by completion of written unanimous consent, approved a cash dividend of $.25 (twenty five cents) (“October Cash Dividend”) per share of the Company’s outstanding common stock which October Cash Dividend will be payable to shareholders of record on October 22, 2010. The payment date for the October Cash Dividend was established as November 22, 2010. The total amount of the October Cash Dividend will be approximately $3,800,000.

As previously reported in an 8-K, the October Cash Dividend was contingent upon the approval by the Arkansas Insurance Commissioner of an extraordinary cash dividend from Brokers National Life Assurance Company (“BNLAC”), the wholly owned subsidiary of BNL, in the amount of $3,800,000 (“BNLAC Extraordinary October Dividend”). On November 8, 2010, the Arkansas Insurance Commissioner issued a letter approving the BNLAC Extraordinary October Dividend.

Therefore, on November 22, 2010, BNL Financial will be paying the October Cash Dividend to its shareholders.

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.

	BNL FINANCIAL CORPORATION
	(Registrant)

Date: November 12, 2010	/s/ Barry N. Shamas
	Barry N. Shamas
	Executive Vice President and
	Chief Operating Officer

BNL FINANCIAL CORP 8-K