FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * NICKBARG DON   2. Issuer Name and Ticker or Trading Symbol ITLA CAPITAL CORP [ITLA] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chief Banking Officer (Last) (First) (Middle) C/O ITLA CAPITAL CORP, 888 PROSPECT STREET STE110 3. Date of Earliest Transaction (Month/Day/Year) 08/09/2005 (Street) LA JOLLA, CA 92037 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 08/09/2005   M   600 A $ 14 600 D   Common Stock 08/09/2005   S   600 D $ 55.25 0 D   Common Stock               10,705 I By SERP

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Underlying Securities (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option ("Right to Buy")	$ 14	08/09/2005		M			600	(1)	(6)	Common Stock	600	$ 0	5,400	D
Stock Option ("Right to Buy")	$ 13							(2)	(6)	Common Stock	5,000		5,000	D
Stock Option ("Right to Buy")	$ 16.21							(3)	(6)	Common Stock	10,000		10,000	D
Stock Option ("Right to Buy")	$ 11							(4)	(6)	Common Stock	4,000		4,000	D
Stock Option ("Right to Buy")	$ 23							(5)	(6)	Common Stock	15,000		15,000	D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
NICKBARG DON C/O ITLA CAPITAL CORP 888 PROSPECT STREET STE110 LA JOLLA, CA 92037			Chief Banking Officer

Signatures

/s/ Don Nickbarg		08/11/2005
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	One-third of the option vested on February 2, 2000, one-third vested on February 2, 2001 and one-third vested on February 2, 2002.
(2)	One-third of the option vested on May 30, 2001, one-third vested on May 30, 2002 and one-third vested on May 30, 2003.
(3)	One-third of theh option vested on May 9, 2002, one-third vested on May 9, 2003 and one-third vested on May 9, 2004.
(4)	One-third of the option vested on January 31, 2001, one-third vested on January 31, 2002 and one-third vested on January 31, 2003.
(5)	One-third of the option vested on February 19, 2003, one-third vested on February 19, 2004 and one-third vested on February 19, 2005.
(6)	As a result of the reporting person's recent resignation, the option will expire on or about November 30, 2005.

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