0001438891-14-000004.txt : 20140523 0001438891-14-000004.hdr.sgml : 20140523 20140523102644 ACCESSION NUMBER: 0001438891-14-000004 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20140519 ITEM INFORMATION: Termination of a Material Definitive Agreement FILED AS OF DATE: 20140523 DATE AS OF CHANGE: 20140523 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIRST BANKS, INC CENTRAL INDEX KEY: 0000710507 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 431175538 STATE OF INCORPORATION: MO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-31610 FILM NUMBER: 14865772 BUSINESS ADDRESS: STREET 1: 135 N MERAMEC CITY: ST LOUIS STATE: MO ZIP: 63105 BUSINESS PHONE: 3148544600 MAIL ADDRESS: STREET 1: 135 N MERAMEC CITY: ST LOUIS STATE: MO ZIP: 63105 FORMER COMPANY: FORMER CONFORMED NAME: FIRST BANKS INC DATE OF NAME CHANGE: 19940805 8-K 1 fbi8-k052314.htm 8-K FBI 8-K 05.23.14


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

May 19, 2014
Date of Report (Date of earliest event reported)


FIRST BANKS, INC.
(Exact name of registrant as specified in its charter)


MISSOURI
001-31610
43-1175538
(State or other jurisdiction of incorporation)
(Commission File Number)
(I.R.S. Employer Identification No.)

 
135 North Meramec, Clayton, Missouri
63105
 
 
(Address of principal executive offices)
(Zip code)
 


(314) 854-4600
(Registrant’s telephone number, including area code)


Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))






Item 1.02
Termination of a Material Definitive Agreement.
On May 19, 2014, the Federal Reserve Bank of St. Louis (the “FRB”) terminated the Written Agreement (the “Agreement”), dated March 24, 2010, by and among First Banks, Inc. (the “Company”), The San Francisco Company (“SFC”), First Bank and the FRB. The Agreement previously required the Company and First Bank to take certain steps intended to improve their overall financial condition, as further described in "Item 1. – Business – Supervision and Regulation – Regulatory Agreements" in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, which summary is qualified by reference to the full text of the Agreement filed as Exhibit 10.11 thereto. Pursuant to the Agreement, the Company prepared and filed with the FRB a number of specific plans that strengthened and/or addressed the following matters: (i) board oversight over the management and operations of the Company and First Bank; (ii) credit risk management practices; (iii) lending and credit administration policies and procedures; (iv) asset improvement; (v) capital; (vi) earnings and overall financial condition; and (vii) liquidity and funds management. Additionally, the Company entered into a Memorandum of Understanding with the FRB, dated May 19, 2014, relating to, among other things, the payment of dividends and redemption of stock. The memorandum is characterized by regulatory authorities as an informal action that is neither published nor made publicly available by the FRB.





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SIGNATURE


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.





 
FIRST BANKS, INC.
 
 
 
 
 
 
 
 
 
 
 
 
Date:
May 23, 2014
By:
/s/
Terrance M. McCarthy
 
 
 
Terrance M. McCarthy
 
 
 
President and Chief Executive Officer


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