UNITED STATES

SECURITIES AND EXCHANGE COMMISSION


Washington, D.C. 20549


FORM 8-K/A
CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) March 14, 2006


ITLA CAPITAL CORPORATION


(Exact name of registrant as specified in its charter)


Delaware 0-26960 95-4596322

(State or other jurisdiction
of incorporation)
(Commission File No.) (IRS Employer
Identification No.)


888 Prospect Street, Suite 110, La Jolla, California 92037

(Address of principal executive offices) (Zip Code)


Registrant's telephone number, including area code: (858) 551-0511




N/A
(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:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))




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        The purpose of this amendment on Form 8-K/A is to correct the per share dividend amount contained in the press release attached to the original Form 8-K filing.

Item 8.01 Other Events

         On March 14, 2006, ITLA Capital Corporation issued the press release attached to this report as Exhibit 99.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

99 Press Release dated March 14, 2006













































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SIGNATURES

          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.

ITLA CAPITAL CORPORATION



Date:   March 15, 2006
By: /s/ Timothy M. Doyle
Timothy M. Doyle
Executive Managing Director and
Chief Financial Officer
































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EXHIBIT INDEX



Exhibit Number
Description
99    Press Release dated March 14, 2006


























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