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

                       September 1, 2005 (August 31, 2005)
                Date of Report (Date of earliest event reported)


                                FIRST BANKS, INC.
             (Exact name of registrant as specified in its charter)


          MISSOURI                   0-20632                     43-1175538
(State or other jurisdiction  (Commission File Number)        (I.R.S. Employer
     of incorporation)                                       Identification No.)


                   135 NORTH MERAMEC, CLAYTON, MISSOURI 63105
               (Address of principal executive offices) (Zip code)


                                 (314) 854-4600
              (Registrant's telephone number, including area code)


                                 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:

( ) 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))






                                FIRST BANKS, INC.

TABLE OF CONTENTS
                                                                        Page
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ITEM 8.01   OTHER EVENTS..............................................    1

SIGNATURE.............................................................    2








ITEM 8.01     OTHER EVENTS.

         On August 31, 2005, a Notice of Optional  Redemption was distributed by
U.S. Bank National  Association,  as Trustee,  to holders of the First Preferred
Capital  Trust II ("First  Preferred  II")  10.24%  cumulative  trust  preferred
securities  indicating  First Banks,  Inc.'s  ("First  Banks" or the  "Company")
intention to redeem in full the  outstanding  First Preferred II trust preferred
securities  on September  30, 2005 (the  "Redemption  Date") at the  liquidation
value of $25 per preferred security, together with distributions accumulated and
unpaid to the Redemption Date. In conjunction with this transaction, First Banks
will payoff in full the $59.3  million of 10.24%  subordinated  debentures  that
were  issued by First  Banks to First  Preferred  II in  October  2000,  thereby
providing funds for the redemption of the trust preferred  securities.  From and
after  September  30,  2005,  distributions  on the  First  Preferred  II  trust
preferred  securities  shall  cease to accrue and the First  Preferred  II trust
preferred  securities will cease to be entitled to any lien, benefit or security
under the governing documents.

         The trust preferred  securities of First Preferred II are traded on the
Nasdaq National Market System under the ticker symbol "FBNKN."









                                    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.


                                   FIRST BANKS, INC.



Date:  September 1, 2005           By: /s/ Allen H. Blake
                                       -----------------------------------------
                                           Allen H. Blake
                                           President and Chief Executive Officer