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
April 23, 2007 (April 22, 2007)
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
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ITEM 8.01 OTHER EVENTS................................................... 1
SIGNATURE................................................................. 2
ITEM 8.01 OTHER EVENTS.
Pursuant to a Notice of Redemption distributed by Wilmington Trust Company,
as Trustee, to holders of the First Bank Capital Trust variable rate cumulative
trust preferred securities ("FBCT Preferred Securities"), First Banks, Inc.
("First Banks" or the "Company") redeemed in full the outstanding FBCT Preferred
Securities on April 22, 2007 (the "Redemption Date") at the liquidation value of
$1,000 per security, together with distributions accumulated and unpaid to the
Redemption Date. The FBCT Preferred Securities were issued in a private
placement in April 2002. In conjunction with this transaction, First Banks
repaid in full the $25.8 million of variable rate subordinated debentures that
were issued by First Banks to FBCT, thereby providing funds for the redemption
of the FBCT Preferred Securities. From and after April 22, 2007, distributions
on the FBCT Preferred Securities ceased to accrue and the FBCT Preferred
Securities ceased to be entitled to any lien, benefit or security under the
governing documents.
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: April 23, 2007 By: /s/ Terrance M. McCarthy
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Terrance M. McCarthy
President and
Chief Executive Officer