BUSINESS SEGMENT RESULTS

6 Months Ended

Jun. 30, 2011

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

NOTE 10 – BUSINESS SEGMENT RESULTS

The Company’s business segment is First Bank. The reportable business segment is consistent with the management structure of the Company, First Bank and the internal reporting system that monitors performance. First Bank provides similar products and services in its defined geographic areas through its branch network. The products and services offered include a broad range of commercial and personal deposit products, including demand, savings, money market and time deposit accounts. In addition, First Bank markets combined basic services for various customer groups, including packaged accounts for more affluent customers, and sweep accounts, lock-box deposits and cash management products for commercial customers. First Bank also offers consumer and commercial loans. Consumer lending includes residential real estate, home equity and installment lending. Commercial lending includes commercial, financial and agricultural loans, real estate construction and development loans, commercial real estate loans and small business lending. Other financial services include mortgage banking, debit cards, brokerage services, internet banking, remote deposit, ATMs, telephone banking, safe deposit boxes, and trust and private banking services. The revenues generated by First Bank and its subsidiaries consist primarily of interest income generated from the loan and investment security portfolios, service charges and fees generated from deposit products and services, and fees generated by the Company’s mortgage banking and trust and private banking business units. The Company’s products and services are offered to customers primarily within its geographic areas, which include eastern Missouri, southern Illinois, southern and northern California, and Florida’s Manatee, Pinellas, Hillsborough and Pasco counties. Certain loan products are available nationwide.

The business segment results are consistent with the Company’s internal reporting system and, in all material respects, with GAAP and practices predominant in the banking industry. The business segment results are summarized as follows:

				Corporate, Other and
				Intercompany
	First Bank			Reclassifications				Consolidated Totals
	June 30,		December 31,	June 30,		December 31,		June 30,	December 31,
	2011		2010	2011		2010		2011	2010
	(dollars expressed in thousands)
Balance sheet information:
Investment securities	$	2,185,730	1,483,659	10,678		10,678		2,196,408	1,494,337
Loans, net of deferred costs (fees)		3,734,603	4,492,284	—		—		3,734,603	4,492,284
FRB and FHLB stock		26,942	30,121	—		—		26,942	30,121
Goodwill and other intangible assets		127,455	129,054	—		—		127,455	129,054
Assets held for sale		—	2,266	—		—		—	2,266
Assets of discontinued operations		—	43,532	—		—		—	43,532
Total assets		6,903,279	7,361,706	15,997		16,422		6,919,276	7,378,128
Deposits		6,079,110	6,462,068	(2,965	)	(3,653	)	6,076,145	6,458,415
Other borrowings		51,247	31,761	—		—		51,247	31,761
Subordinated debentures		—	—	354,019		353,981		354,019	353,981
Liabilities held for sale		—	23,406	—		—		—	23,406
Liabilities of discontinued operations		—	94,184	—		—		—	94,184
Stockholders’ equity		710,487	693,458	(401,168	)	(386,163	)	309,319	307,295

						Corporate, Other and
						Intercompany
	First Bank					Reclassifications				Consolidated Totals
	Three Months Ended					Three Months Ended				Three Months Ended
	June 30,					June 30,				June 30,
	2011			2010		2011		2010		2011		2010
	(dollars expressed in thousands)
Income statement information:
Interest income	$	58,994		81,360		103		139		59,097		81,499
Interest expense		9,062		17,606		3,364		3,195		12,426		20,801
Net interest income (loss)		49,932		63,754		(3,261	)	(3,056	)	46,671		60,698
Provision for loan losses		23,000		83,000		—		—		23,000		83,000
Net interest income (loss) after provision for
loan losses		26,932		(19,246	)	(3,261	)	(3,056	)	23,671		(22,302	)
Noninterest income		15,367		18,502		(165	)	1,842		15,202		20,344
Amortization of intangible assets		800		800		—		—		800		800
Other noninterest expense		56,895		65,161		(416	)	119		56,479		65,280
Loss from continuing operations before provision
(benefit) for income taxes		(15,396	)	(66,705	)	(3,010	)	(1,333	)	(18,406	)	(68,038	)
Provision (benefit) for income taxes		17		149		55		(101	)	72		48
Net loss from continuing operations, net of tax		(15,413	)	(66,854	)	(3,065	)	(1,232	)	(18,478	)	(68,086	)
Discontinued operations, net of tax		502		3,111		—		—		502		3,111
Net loss		(14,911	)	(63,743	)	(3,065	)	(1,232	)	(17,976	)	(64,975	)
Net loss attributable to noncontrolling interest in
subsidiary		(927	)	(27	)	—		—		(927	)	(27	)
Net loss attributable to First Banks, Inc	$	(13,984	)	(63,716	)	(3,065	)	(1,232	)	(17,049	)	(64,948	)

						Corporate, Other and
						Intercompany
	First Bank					Reclassifications				Consolidated Totals
	Six Months Ended					Six Months Ended				Six Months Ended
	June 30,					June 30,				June 30,
	2011			2010		2011		2010		2011		2010
	(dollars expressed in thousands)
Income statement information:
Interest income	$	121,112		166,029		253		241		121,365		166,270
Interest expense		19,534		37,010		6,663		6,290		26,197		43,300
Net interest income (loss)		101,578		129,019		(6,410	)	(6,049	)	95,168		122,970
Provision for loan losses		33,000		125,000		—		—		33,000		125,000
Net interest income (loss) after provision for
loan losses		68,578		4,019		(6,410	)	(6,049	)	62,168		(2,030	)
Noninterest income		29,544		35,236		(218	)	516		29,326		35,752
Amortization of intangible assets		1,599		1,725		—		—		1,599		1,725
Other noninterest expense		114,948		130,080		(422	)	199		114,526		130,279
Loss from continuing operations before provision
(benefit) for income taxes		(18,425	)	(92,550	)	(6,206	)	(5,732	)	(24,631	)	(98,282	)
Provision (benefit) for income taxes		160		254		(36	)	(101	)	124		153
Net loss from continuing operations, net of tax		(18,585	)	(92,804	)	(6,170	)	(5,631	)	(24,755	)	(98,435	)
Discontinued operations, net of tax		696		5,454		—		—		696		5,454
Net loss		(17,889	)	(87,350	)	(6,170	)	(5,631	)	(24,059	)	(92,981	)
Net loss attributable to noncontrolling interest in
subsidiary		(862	)	(464	)	—		—		(862	)	(464	)
Net loss attributable to First Banks, Inc	$	(17,027	)	(86,886	)	(6,170	)	(5,631	)	(23,197	)	(92,517	)