EARNINGS (LOSS) PER COMMON SHARE

6 Months Ended

Jun. 30, 2011

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 7–EARNINGS (LOSS)PER COMMON SHARE

The following is a reconciliation of basic and diluted earnings (loss) per share (EPS) for the three and six months ended June 30, 2011 and 2010:

	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2011			2010		2011		2010
	(dollars in thousands, except share and per share data)
Basic:
Net loss from continuing operations attributable to First Banks, Inc.	$	(17,551	)	(68,059	)	(23,893	)	(97,971	)
Preferred stock dividends declared and undeclared		(4,447	)	(4,217	)	(8,835	)	(8,378	)
Accretion of discount on preferred stock		(864	)	(843	)	(1,719	)	(1,676	)
Net loss from continuing operations attributable to common stockholders		(22,862	)	(73,119	)	(34,447	)	(108,025	)
Net income from discontinued operations attributable to common
stockholders		502		3,111		696		5,454
Net loss available to First Banks, Inc. common stockholders	$	(22,360	)	(70,008	)	(33,751	)	(102,571	)
Weighted average shares of common stock outstanding		23,661		23,661		23,661		23,661
Basic loss per common share – continuing operations	$	(966.22	)	(3,090.27	)	(1,455.83	)	(4,565.55	)
Basic earnings per common share – discontinued operations	$	21.22		131.48		29.42		230.51
Basic loss per common share	$	(945.00	)	(2,958.79	)	(1,426.41	)	(4,335.04	)
Diluted:
Net loss from continuing operations attributable to common stockholders	$	(22,862	)	(73,119	)	(34,447	)	(108,025	)
Net income from discontinued operations attributable to common
stockholders		502		3,111		696		5,454
Net loss available to First Banks, Inc. common stockholders		(22,360	)	(70,008	)	(33,751	)	(102,571	)
Effect of dilutive securities:
Class A convertible preferred stock		—		—		—		—
Diluted loss per common share – net loss available to First Banks, Inc.
common stockholders	$	(22,360	)	(70,008	)	(33,751	)	(102,571	)
Weighted average shares of common stock outstanding		23,661		23,661		23,661		23,661
Effect of dilutive securities:
Class A convertible preferred stock		—		—		—		—
Weighted average diluted shares of common stock outstanding		23,661		23,661		23,661		23,661
Diluted loss per common share – continuing operations	$	(966.22	)	(3,090.27	)	(1,455.83	)	(4,565.55	)
Diluted earnings per common share – discontinued operations	$	21.22		131.48		29.42		230.51
Diluted loss per common share	$	(945.00	)	(2,958.79	)	(1,426.41	)	(4,335.04	)