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
November 15, 2005 (November 14, 2005)
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 (Commission File Number) (I.R.S. Employer
of incorporation) 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:
( ) Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
( ) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
( ) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
( ) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
FIRST BANKS, INC.
TABLE OF CONTENTS
Page
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ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT............................................. 1
ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN
OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.......................................... 1
SIGNATURE.......................................................................................... 2
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On November 14, 2005, First Banks, Inc., a Missouri corporation ("First
Banks" or the "Company"), borrowed the remaining $20.0 million available on a
$100.0 million term loan facility ("Term Loan"). On August 16, 2005, First Banks
filed a Current Report on Form 8-K pursuant to Item 1.01 and Item 2.03 reporting
that First Banks entered into an Amended and Restated Secured Credit Agreement
with a group of unaffiliated financial institutions ("Credit Agreement") in the
amount of $122.5 million. The Credit Agreement provided a $15.0 million
revolving credit facility, a $7.5 million letter of credit facility and the Term
Loan. First Banks borrowed $80.0 million on the Term Loan on August 11, 2005.
The $100.0 million outstanding principal balance of the Term Loan is payable in
ten equal quarterly installments of $5.0 million each commencing on March 31,
2006, with the remainder of the Term Loan balance to be repaid in full,
including any unpaid interest, upon maturity on August 10, 2008. Interest is
payable on the outstanding principal loan balances of the Term Loan at a
floating rate equal to the Eurodollar Rate plus a margin determined by the
outstanding loan balances and First Banks' net income for the preceding four
calendar quarters. First Banks intends to use the proceeds of the $20.0 million
advance under the Credit Agreement for general corporate purposes and for
potential acquisitions.
ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER
AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.
See Item 1.01.
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: November 15, 2005 By: /s/ Allen H. Blake
---------------------------------
Allen H. Blake
President and
Chief Executive Officer