First Preferred Capital Trust IV (FBS-A)

[Enterprising Investor]

First Banks Q3 Financial Results (10/28/11)

First Banks, Inc.,the holding company of First Bank, today announced a net loss of $2.1 million for the three months ended September 30, 2011 as compared to a net loss of $47.8 million for the three months ended September 30, 2010.

For the nine months ended September 30, 2011, the Company reported a net loss of $25.3 million as compared to a net loss of $140.3 million for the nine months ended September 30, 2010. The net loss for the three and nine months ended September 30, 2011 includes a provision for loan losses of $19.0 million and $52.0 million, respectively, as compared to $37.0 million and $162.0 million for the three and nine months ended September 30, 2010, respectively. The Company’s subsidiary bank, First Bank, reported a net profit for the three months ended September 30, 2011 of $1.1 million. This represents First Bank’s first quarterly profit since the first quarter of 2008.

http://www.firstbanks.com/about_us/first_bank_in_the_news/Press_10282011.pdf