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
                                                                                  
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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(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

MCKINNEY MARNI 		2. Issuer Name and Ticker or Trading Symbol

FIRST INDIANA CORP [ FINB ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      __ X __ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Vice Chairman
(Last)          (First)          (Middle)

135 N. PENNSYLVANIA ST. 		3. Date of Earliest Transaction (MM/DD/YYYY)

12/27/2007
(Street)

INDIANAPOLIS, IN 46204
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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   12/27/2007   12/27/2007   S    14074   D $31.95   327246   D    
Common Stock                  207   I   by Managed Account  
Common Stock                  1051626   I   by Partnership  
Common Stock                  720397   I   by Trust  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 7. Title and Amount of Securities Underlying Derivative Security
(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
Non-Qualified Stock Option (right to buy)   $10.4                   2/17/2001   2/17/2009   Common Stock   4628     4628   D    
Non-Qualified Stock Option (right to buy)   $11.96                   2/16/2000   2/15/2009   Common Stock   15625     15625   D    
Non-Qualified Stock Option (right to buy)   $12.8                   1/20/2001   1/20/2010   Common Stock   23437     23437   D    
Non-Qualified Stock Option (right to buy)   $13.95                   1/17/2003   1/17/2012   Common Stock   31895     31895   D    
Non-Qualified Stock Option (right to buy)   $14.47                   11/19/2004   11/19/2013   Common Stock   14341     14341   D    
Non-Qualified Stock Option (right to buy)   $14.9                   1/17/2002   1/17/2011   Common Stock   39062     39062   D    
Non-Qualified Stock Option (right to buy)   $15.6                   1/22/1999   1/21/2008   Common Stock   18750     18750   D    
Non-Qualified Stock Option (right to buy)   $15.63                   11/20/2003   11/20/2012   Common Stock   21250     21250   D    

Explanation of Responses:

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
MCKINNEY MARNI
135 N. PENNSYLVANIA ST.
INDIANAPOLIS, IN 46204 		X X Vice Chairman

Signatures
By: William J. Brunner For: Marni McKinney 12/28/2007
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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