BUSINESS SEGMENT RESULTS

9 Months Ended

Sep. 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
	First Bank			Intercompany Reclassifications				Consolidated Totals
	September 30,		December 31,	September 30,		December 31,		September 30,	December 31,
	2011		2010	2011		2010		2011	2010
	(dollars expressed in thousands)
Balance sheet information:
Investment securities	$	2,413,460	1,483,659	10,678		10,678		2,424,138	1,494,337
Loans, net of deferred loan costs (fees)		3,502,791	4,492,284	—		—		3,502,791	4,492,284
FRB and FHLB stock		27,257	30,121	—		—		27,257	30,121
Goodwill and other intangible assets		126,727	129,054	—		—		126,727	129,054
Assets held for sale		—	2,266	—		—		—	2,266
Assets of discontinued operations		—	43,532	—		—		—	43,532
Total assets		6,768,646	7,361,706	15,319		16,422		6,783,965	7,378,128
Deposits		5,947,009	6,462,068	(3,196	)	(3,653	)	5,943,813	6,458,415
Other borrowings		53,112	31,761	—		—		53,112	31,761
Subordinated debentures		—	—	354,038		353,981		354,038	353,981
Liabilities held for sale		—	23,406	—		—		—	23,406
Liabilities of discontinued operations		—	94,184	—		—		—	94,184
Stockholders’ equity		703,843	693,458	(408,811	)	(386,163	)	295,032	307,295

						Corporate, Other and
						Intercompany
	First Bank					Reclassifications				Consolidated Totals
	Three Months Ended					Three Months Ended				Three Months Ended
	September 30,					September 30,				September 30,
	2011			2010		2011		2010		2011		2010
	(dollars expressed in thousands)
Income statement information:
Interest income	$	56,671		77,469		132		180		56,803		77,649
Interest expense		7,564		15,591		3,405		3,404		10,969		18,995
Net interest income (loss)		49,107		61,878		(3,273	)	(3,224	)	45,834		58,654
Provision for loan losses		19,000		37,000		—		—		19,000		37,000
Net interest income (loss) after provision for
loan losses		30,107		24,878		(3,273	)	(3,224	)	26,834		21,654
Noninterest income		16,972		17,913		8		(848	)	16,980		17,065
Amortization of intangible assets		728		800		—		—		728		800
Other noninterest expense		57,528		87,724		(119	)	(139	)	57,409		87,585
Loss from continuing operations before (benefit)
provision for income taxes		(11,177	)	(45,733	)	(3,146	)	(3,933	)	(14,323	)	(49,666	)
(Benefit) provision for income taxes		(11,572	)	5,250		(9	)	(57	)	(11,581	)	5,193
Net income (loss) from continuing operations, net
of tax		395		(50,983	)	(3,137	)	(3,876	)	(2,742	)	(54,859	)
Discontinued operations, net of tax		—		6,430		—		—		—		6,430
Net income (loss)		395		(44,553	)	(3,137	)	(3,876	)	(2,742	)	(48,429	)
Net loss attributable to noncontrolling interest in
subsidiary		(668	)	(618	)	—		—		(668	)	(618	)
Net income (loss) attributable to First Banks, Inc.	$	1,063		(43,935	)	(3,137	)	(3,876	)	(2,074	)	(47,811	)

						Corporate, Other and
						Intercompany
	First Bank					Reclassifications				Consolidated Totals
	Nine Months Ended					Nine Months Ended				Nine Months Ended
	September 30,					September 30,				September 30,
	2011			2010		2011		2010		2011		2010
	(dollars expressed in thousands)
Income statement information:
Interest income	$	177,783		243,498		385		421		178,168		243,919
Interest expense		27,098		52,601		10,068		9,694		37,166		62,295
Net interest income (loss)		150,685		190,897		(9,683	)	(9,273	)	141,002		181,624
Provision for loan losses		52,000		162,000		—		—		52,000		162,000
Net interest income (loss) after provision for
loan losses		98,685		28,897		(9,683	)	(9,273	)	89,002		19,624
Noninterest income		46,516		53,149		(210	)	(332	)	46,306		52,817
Amortization of intangible assets		2,327		2,525		—		—		2,327		2,525
Other noninterest expense		172,476		217,804		(541	)	60		171,935		217,864
Loss from continuing operations before (benefit)
provision for income taxes		(29,602	)	(138,283	)	(9,352	)	(9,665	)	(38,954	)	(147,948	)
(Benefit) provision for income taxes		(11,412	)	5,504		(45	)	(158	)	(11,457	)	5,346
Net loss from continuing operations, net of tax		(18,190	)	(143,787	)	(9,307	)	(9,507	)	(27,497	)	(153,294	)
Discontinued operations, net of tax		696		11,884		—		—		696		11,884
Net loss		(17,494	)	(131,903	)	(9,307	)	(9,507	)	(26,801	)	(141,410	)
Net loss attributable to noncontrolling interest in
subsidiary		(1,530	)	(1,082	)	—		—		(1,530	)	(1,082	)
Net loss attributable to First Banks, Inc.	$	(15,964	)	(130,821	)	(9,307	)	(9,507	)	(25,271	)	(140,328	)