BUSINESS SEGMENT RESULTS

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

BUSINESS SEGMENT RESULTS

BUSINESSSEGMENTRESULTS

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 client groups, including packaged accounts for more affluent clients, and sweep accounts, lock-box deposits and cash management products for commercial clients. 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, mobile banking, 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 clients primarily within its geographic areas, which include eastern Missouri, southern Illinois, southern and northern California, and Florida’s Bradenton, Palmetto and Longboat Key communities. 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:

	First Bank			Corporate, Other and Intercompany Reclassifications				ConsolidatedTotals
(dollars in thousands)	September 30, 2014		December 31, 2013	September 30, 2014		December 31, 2013		September 30, 2014	December 31, 2013
Balance sheet information:
Investment securities	$	2,129,383	2,351,931	—		—		2,129,383	2,351,931
Total loans	2,979,577		2,857,095	—		—		2,979,577	2,857,095
FRB and FHLB stock	30,623		27,357	—		—		30,623	27,357
Total assets	5,834,780		5,865,160	52,035		53,823		5,886,815	5,918,983
Deposits	4,843,161		4,815,792	(16,231	)	(1,897	)	4,826,930	4,813,895
Securities sold under agreements to repurchase	42,682		43,143	—		—		42,682	43,143
Subordinated debentures	—		—	354,267		354,210		354,267	354,210
Stockholders’ equity	875,145		931,561	(366,452	)	(443,305	)	508,693	488,256

	First Bank					Corporate, Other and Intercompany Reclassifications				Consolidated Totals
	Three Months Ended					Three Months Ended				Three Months Ended
	September 30,					September 30,				September 30,
(dollars in thousands)	2014			2013		2014		2013		2014		2013
Income statement information:
Interest income	$	41,945		42,366		—		—		41,945		42,366
Interest expense	2,056			2,149		3,042		3,803		5,098		5,952
Net interest income (loss)	39,889			40,217		(3,042	)	(3,803	)	36,847		36,414
(Benefit) provision for loan losses	(5,000		)	—		—		—		(5,000	)	—
Net interest income (loss) after (benefit) provision for loan losses	44,889			40,217		(3,042	)	(3,803	)	41,847		36,414
Noninterest income	13,982			15,414		92		115		14,074		15,529
Noninterest expense	46,551			44,994		148		311		46,699		45,305
Income (loss) from continuing operations before provision (benefit) for income taxes	12,320			10,637		(3,098	)	(3,999	)	9,222		6,638
Provision (benefit) for income taxes	4,296			(64	)	(1,084	)	(1	)	3,212		(65	)
Net income (loss) from continuing operations, net of tax	8,024			10,701		(2,014	)	(3,998	)	6,010		6,703
Loss from discontinued operations, net of tax	—			(881	)	—		—		—		(881	)
Net income (loss)	8,024			9,820		(2,014	)	(3,998	)	6,010		5,822
Net loss attributable to noncontrolling interest in subsidiary	(32		)	(38	)	—		—		(32	)	(38	)
Net income (loss) attributable to First Banks, Inc.	$	8,056		9,858		(2,014	)	(3,998	)	6,042		5,860

	First Bank					Corporate, Other and Intercompany Reclassifications				Consolidated Totals
	Nine Months Ended					Nine Months Ended				Nine Months Ended
	September 30,					September 30,				September 30,
(dollars in thousands)	2014			2013		2014		2013		2014		2013
Income statement information:
Interest income	$	126,691		130,084		30		—		126,721		130,084
Interest expense	6,148			6,866		9,862		11,210		16,010		18,076
Net interest income (loss)	120,543			123,218		(9,832	)	(11,210	)	110,711		112,008
(Benefit) provision for loan losses	(5,000		)	—		—		—		(5,000	)	—
Net interest income (loss) after (benefit) provision for loan losses	125,543			123,218		(9,832	)	(11,210	)	115,711		112,008
Noninterest income	42,665			49,529		298		338		42,963		49,867
Noninterest expense	133,151			132,882		(116	)	613		133,035		133,495
Income (loss) from continuing operations before provision (benefit) for income taxes	35,057			39,865		(9,418	)	(11,485	)	25,639		28,380
Provision (benefit) for income taxes	10,317			(44	)	(1,270	)	(1	)	9,047		(45	)
Net income (loss) from continuing operations, net of tax	24,740			39,909		(8,148	)	(11,484	)	16,592		28,425
Loss from discontinued operations, net of tax	—			(6,279	)	—		—		—		(6,279	)
Net income (loss)	24,740			33,630		(8,148	)	(11,484	)	16,592		22,146
Net (loss) income attributable to noncontrolling interest in subsidiary	(86		)	113		—		—		(86	)	113
Net income (loss) attributable to First Banks, Inc.	$	24,826		33,517		(8,148	)	(11,484	)	16,678		22,033