8-K

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 4, 2011

Date of Report (Date of earliest event reported)

FIRST BANKS, INC.

(Exact name of registrant as specified in its charter)

MISSOURI	0-20632	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 5.07 Submission of Matters to a Vote of Security Holders.

At the Annual Meeting of Shareholders (“Annual Meeting”) of First Banks, Inc. (the “Company”) that was held on May 4, 2011, the following individuals, constituting all of the Directors of the Company, were unanimously elected:

James F. Dierberg

Allen H. Blake

James A. Cooper

Michael J. Dierberg

Terrance M. McCarthy

David L. Steward

Douglas H. Yaeger

Each of our directors identified above was elected to serve a one-year term and until his successor has been duly qualified for office.  Messrs. James F. Dierberg, Blake, Cooper, McCarthy, Steward and Yaeger were re-elected, and Mr. Michael J. Dierberg was newly elected.

The Company issued a press release on May 4, 2011 announcing the election of Mr. Michael J. Dierberg, a copy of which is attached hereto as Exhibit 99 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit
Number	Description
99	Press Release issued on May 4, 2011 – filed herewith.

1

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 4, 2011	By:	/s/	Terrance M. McCarthy
				Terrance M. McCarthy
				President and Chief Executive Officer

2

Exhibit Index

Exhibit
Number	Description
99	Press Release issued on May 4, 2011.

3

EX-99

Exhibit 99

FIRST BANKS, INC.

ST. LOUIS, MISSOURI

NEWS RELEASE

Contacts:	Terrance M. McCarthy	Lisa K. Vansickle
	President and	Executive Vice President and
	Chief Executive Officer	Chief Financial Officer
	First Banks, Inc.	First Banks, Inc.
	(314) 854-4600	(314) 854-4600

Traded:	NYSE
Symbol:	FBSPrA – (First Preferred Capital Trust IV, an affiliated trust of First Banks, Inc.)

FOR IMMEDIATE RELEASE:

First Banks, Inc. Announces Appointment of

Michael J. Dierberg to Board of Directors

St. Louis, Missouri, May 4, 2011.  First Banks, Inc. (“First Banks” or the “Company”) is pleased to announce the election of Mr. Michael J. Dierberg to its Board of Directors at the annual meeting of shareholders held earlier today.

Mr. Dierberg previously served as the Company’s General Counsel from June 2002 to July 2004 and served as a Director of the Company from July 2001 to July 2004.  During that time, Mike was also a member of the Company’s Executive Committee.  Prior to joining the Company in 2001, Mr. Dierberg served as an attorney at a federal bank regulatory agency, the Office of the Comptroller of the Currency, in Washington, D.C.  More recently, Mr. Dierberg served as an attorney at the United States Department of Justice.  Mr. Dierberg is a shareholder of the Company and is the son of James F. Dierberg, the principal shareholder of the Company and Chairman of the Company’s Board of Directors.

Terrance M. McCarthy, President and Chief Executive Officer of First Banks, said, “We are extremely pleased to welcome Mike back to the Board.  I know from working closely with Mike in the past that he will bring valuable insight to the Company.  Mike’s unique prior experience as an attorney and as an executive of the Company will further enhance the Company’s Board of Directors and provide a significant benefit to the Company.”

About First Banks, Inc.

The Company had assets of $7.21 billion at March 31, 2011 and currently operates 152 branch banking offices in California, Florida, Illinois and Missouri. Through its subsidiary bank, First Bank, the Company offers a broad range of financial products and services to consumers, businesses and other institutions. Visit the Company on the web at www.firstbanks.com.

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Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about the Company’s plans, objectives, estimates or projections with respect to our future financial condition, expected or anticipated revenues with respect to our results of operations and our business, expected improvement in our net interest income and margin, expectations and intentions and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties which may cause actual results to differ materially from those contemplated in the forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: increased competition and its effect on pricing, spending, third-party relationships and revenues; changes in interest rates and overall economic conditions; and the risk of new and changing regulation. Additional factors which may cause the Company’s results to differ materially from those described in the forward-looking statements may be found in the Company’s Annual Report on Form 10-K, as filed with the SEC and available at the SEC’s internet site. The forward-looking statements in this press release speak only as of the date of the press release, and the Company does not assume any obligation to update the forward-looking statements or to update the reasons why actual results could differ from those contained in the forward-looking statements.