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

                         April 23, 2007 (April 22, 2007)
                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

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ITEM 8.01  OTHER EVENTS...................................................  1

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








ITEM 8.01  OTHER EVENTS.

     Pursuant to a Notice of Redemption distributed by Wilmington Trust Company,
as Trustee,  to holders of the First Bank Capital Trust variable rate cumulative
trust preferred  securities  ("FBCT Preferred  Securities"),  First Banks,  Inc.
("First Banks" or the "Company") redeemed in full the outstanding FBCT Preferred
Securities on April 22, 2007 (the "Redemption Date") at the liquidation value of
$1,000 per security,  together with distributions  accumulated and unpaid to the
Redemption  Date.  The  FBCT  Preferred  Securities  were  issued  in a  private
placement  in April 2002.  In  conjunction  with this  transaction,  First Banks
repaid in full the $25.8 million of variable rate  subordinated  debentures that
were issued by First Banks to FBCT,  thereby  providing funds for the redemption
of the FBCT Preferred Securities.  From and after April 22, 2007,  distributions
on the FBCT  Preferred  Securities  ceased  to  accrue  and the  FBCT  Preferred
Securities  ceased to be  entitled to any lien,  benefit or  security  under the
governing documents.











                                    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:  April 23, 2007                       By: /s/ Terrance M. McCarthy
                                                --------------------------------
                                                    Terrance M. McCarthy
                                                    President and
                                                    Chief Executive Officer