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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (USD $)
In Thousands, except Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Interest income:    
Interest and fees on loans$ 43,103$ 69,480$ 143,023$ 220,964
Investment securities13,0136,86232,71118,566
Federal Reserve Bank and Federal Home Loan Bank stock3404661,0751,542
Short-term investments3478411,3592,847
Total interest income56,80377,649178,168243,919
Interest expense:    
Interest-bearing demand2463438241,070
Savings and money market2,1623,6617,66611,659
Time deposits of $100 or more1,9344,0107,09212,479
Other time deposits3,1836,32011,40620,183
Other borrowings361,2511027,194
Subordinated debentures3,4083,41010,0769,710
Total interest expense10,96918,99537,16662,295
Net interest income45,83458,654141,002181,624
Provision for loan losses19,00037,00052,000162,000
Net interest income after provision for loan losses26,83421,65489,00219,624
Noninterest income:    
Service charges on deposit accounts and customer service fees10,23611,04429,97231,958
Gain on loans sold and held for sale2,5204,0813,9287,321
Net gain (loss) on investment securities4,165(2)5,282553
Net gain (loss) on derivative instruments7(849)(214)(2,939)
Decrease in fair value of servicing rights(4,370)(3,375)(6,739)(6,239)
Loan servicing fees2,0352,1846,4046,742
Other2,3873,9827,67315,421
Total noninterest income16,98017,06546,30652,817
Noninterest expense:    
Salaries and employee benefits20,69622,76261,86166,205
Occupancy, net of rental income6,3377,23519,54421,461
Furniture and equipment2,8753,4849,35111,023
Postage, printing and supplies7077452,2482,694
Information technology fees6,4526,78619,56021,182
Legal, examination and professional fees2,8333,3729,1159,756
Amortization of intangible assets7288002,3272,525
Advertising and business development4612601,393946
FDIC insurance3,7815,73712,91916,425
Write-downs and expenses on other real estate and repossessed assets2,55114,43912,97031,945
Other10,71622,76522,97436,227
Total noninterest expense58,13788,385174,262220,389
Loss from continuing operations before provision for income taxes(14,323)(49,666)(38,954)(147,948)
(Benefit) provision for income taxes(11,581)5,193(11,457)5,346
Net loss from continuing operations, net of tax(2,742)(54,859)(27,497)(153,294)
Income from discontinued operations, net of tax06,43069611,884
Net loss(2,742)(48,429)(26,801)(141,410)
Less: net loss attributable to noncontrolling interest in subsidiary(668)(618)(1,530)(1,082)
Net loss attributable to First Banks, Inc.(2,074)(47,811)(25,271)(140,328)
Preferred stock dividends declared and undeclared4,5064,27213,34112,650
Accretion of discount on preferred stock8748532,5932,529
Net loss available to common stockholders$ (7,454)$ (52,936)$ (41,205)$ (155,507)
Basic and diluted loss per common share from continuing operations (in dollars per share)$ (315.01)$ (2,509.02)$ (1,770.84)$ (7,074.56)
Basic and diluted earnings per common share from discontinued operations (in dollars per share)$ 0$ 271.76$ 29.42$ 502.26
Basic and diluted loss per common share (in dollars per share)$ (315.01)$ (2,237.26)$ (1,741.42)$ (6,572.30)
Weighted average shares of common stock outstanding (in shares)23,66123,66123,66123,661