Exhibit 99
First Banks, Inc.
St. Louis, Missouri
Contact: Allen H. Blake Terrance M. McCarthy
President and Senior Executive Vice President and
Chief Executive Officer Chief Operating Officer
First Banks, Inc. First Banks, Inc.
(314) 592-5000 (314) 592-5000
Traded: NASDAQ
Symbol: FBNKN - (First Preferred Capital Trust II, an affiliated trust
of First Banks, Inc.)
FBNKM - (First Preferred Capital Trust III, an affiliated trust
of First Banks, Inc.)
Traded: NYSE
Symbol: FBSPrA - (First Preferred Capital Trust IV, an affiliated trust
of First Banks, Inc.)
FOR IMMEDIATE RELEASE:
FIRST BANKS, INC. ANNOUNCES THE APPOINTMENT OF
STEVEN F. SCHEPMAN AS CHIEF FINANCIAL OFFICER
St. Louis, Missouri, August 31, 2005. First Banks, Inc. ("First Banks"
or the "Company") announced today the appointment of Steven F. Schepman as
Senior Vice President and Chief Financial Officer of First Banks, effective
August 29, 2005. Allen H. Blake, President and Chief Executive Officer of First
Banks, relinquished his role as the Chief Financial Officer, effective August
29, 2005. Mr. Blake, a 20-year veteran of First Banks, held the position of
Chief Financial Officer from 1984 to September 1999 and since May 2001.
Allen H. Blake, President and Chief Executive Officer of First Banks,
said, "Steve will be a valuable addition to First Banks' financial management
function. In addition to his background in accounting and auditing, he has
managed various other areas within First Banks. This has provided him with a
unique breadth of experience and knowledge of the Company to bring to his new
responsibilities. We look forward to working with him in his new capacity."
Steven F. Schepman, Senior Vice President and Chief Financial Officer
of First Banks, said, "I'm looking forward to playing a broader role within
First Banks as we continue our long term plan of being a premier financial
services organization that is family owned and here to stay."
Mr. Schepman has served as a Director of First Banks since July 2004
and most recently served as Senior Vice President of Private Banking, Wealth
Management and Trust Services of First Bank, a position he has held since
November 2000. In this role, Mr. Schepman was responsible for the oversight of
the Company's brokerage, trust, insurance and private banking products and
services. Mr. Schepman also served as a Director of First Banks' wholly owned
subsidiary bank, First Bank, from April 2001 to October 2004, and has been
employed in various other senior management capacities with the Company since
May 1999.
Mr. Schepman received his Bachelor of Science degree in Business
Administration from the University of Richmond, in Richmond, Virginia, and his
certified public accountant certification from the state of California in 1998.
Prior to joining First Banks, he was a certified public accountant with KPMG LLP
in San Francisco, California, where he was employed in various capacities within
the Financial Services Audit Practice from August 1997 to March 1999. He also
served as a Consultant with Price Waterhouse LLP from January 1996 to March
1997. A native of St. Louis, Mr. Schepman is a member of the Board of Directors
of Forest Park Forever and active in other philanthropic and social
organizations.
In his role as Chief Financial Officer, Mr. Schepman will be
responsible for overseeing the Accounting and Finance functions of First Banks
and actively participating in the strategic planning, corporate direction and
growth of the Company, in addition to ensuring the Company's compliance with the
Sarbanes-Oxley Act of 2002.
First Banks is one of the largest privately-held bank holding companies
in the United States, with headquarters in St. Louis County, Missouri. As of
June 30, 2005, First Banks reported consolidated assets of $8.78 billion and
currently operates 170 branch banking offices in Missouri, Illinois, California
and Texas.
# # #
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 First Banks' 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,
expectations and intentions and other statements that are not historical facts.
Such statements are based upon the current beliefs and expectations of First
Banks' 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; and the risk of new and changing regulation.
Additional factors which may cause First Banks' results to differ materially
from those described in the forward-looking statements may be found in First
Banks' most recent Annual Report on Form 10-K and subsequent Quarterly Reports
on Form 10-Q, as filed with the Securities and Exchange Commission ("SEC") and
available at the SEC's internet site (http://www.sec.gov). The forward-looking
statements in this press release speak only as of the date of the press release,
and First Banks 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.