EARNINGS (LOSS) PER COMMON SHARE

9 Months Ended

Sep. 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 nine months ended September 30, 2011 and 2010:

	Three Months Ended					Nine Months Ended
	September 30,					September 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.	$	(2,074	)	(54,241	)	(25,967	)	(152,212	)
Preferred stock dividends declared and undeclared		(4,506	)	(4,272	)	(13,341	)	(12,650	)
Accretion of discount on preferred stock		(874	)	(853	)	(2,593	)	(2,529	)
Net loss from continuing operations attributable to common stockholders		(7,454	)	(59,366	)	(41,901	)	(167,391	)
Net income from discontinued operations attributable to common
stockholders		—		6,430		696		11,884
Net loss available to First Banks, Inc. common stockholders	$	(7,454	)	(52,936	)	(41,205	)	(155,507	)
Weighted average shares of common stock outstanding		23,661		23,661		23,661		23,661
Basic loss per common share – continuing operations	$	(315.01	)	(2,509.02	)	(1,770.84	)	(7,074.56	)
Basic earnings per common share – discontinued operations	$	—		271.76		29.42		502.26
Basic loss per common share	$	(315.01	)	(2,237.26	)	(1,741.42	)	(6,572.30	)
Diluted:
Net loss from continuing operations attributable to common stockholders	$	(7,454	)	(59,366	)	(41,901	)	(167,391	)
Net income from discontinued operations attributable to common
stockholders		—		6,430		696		11,884
Net loss available to First Banks, Inc. common stockholders		(7,454	)	(52,936	)	(41,205	)	(155,507	)
Effect of dilutive securities:
Class A convertible preferred stock		—		—		—		—
Diluted loss per common share – net loss available to First Banks, Inc.
common stockholders	$	(7,454	)	(52,936	)	(41,205	)	(155,507	)
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	$	(315.01	)	(2,509.02	)	(1,770.84	)	(7,074.56	)
Diluted earnings per common share – discontinued operations	$	—		271.76		29.42		502.26
Diluted loss per common share	$	(315.01	)	(2,237.26	)	(1,741.42	)	(6,572.30	)