----

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| x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|-----------------------------------------------------------------------------------------|

| o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|------------------------------------------------------------------------------------------|

| MISSOURI                                                       |   | 43-1175538                           |
|----------------------------------------------------------------|--------|--------------------------------------|
| (State or other jurisdiction of incorporation or organization) |   | (I.R.S. Employer Identification No.) |

| 135 North Meramec, Clayton, Missouri     |   | 63105      |
|------------------------------------------|--------|------------|
| (Address of principal executive offices) |   | (Zip code) |

----

|   | Large accelerated filer o                                                        | Accelerated filer o         |
|--------|----------------------------------------------------------------------------------|-----------------------------|
|   | Non-accelerated filer x  (Do not check if a smaller reporting company) | Smaller reporting company o |

| Class                           |   | Shares Outstanding at July 31, 2009 |
|---------------------------------|--------|------------------------------------------|
|                            |   |                                     |
| Common Stock, $250.00 par value |   | 23,661                                   |

----

----

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Tab

|                                                               | Page                 |
|--------------------------------------------------------------------|----------------------|
|                                                               |                 |   |   |
| PART I.                                                       | FINANCIAL NFORMATION |   |   |
|                                                               |                 |   |   |   |
|                                                               | Item 1.              | Financial Statements: |   |   |
|                                                               |                 |   |   |   |
|                                                               |                 | Consolidated Balance Sheets | 1 |   |
|                                                               |                 |   |   |   |
|                                                               |                 | Consolidated Statements of Operations | 2 |   |
|                                                               |                 |   |   |   |
|                                                               |                 | Consolidated Statements of Changes in Stockholders’ Equity and Comprehensive Income (Loss) | 3 |   |
|                                                               |                 |   |   |   |
|                                                               |                 | Consolidated Statements of Cash Flows | 4 |   |
|                                                               |                 |   |   |   |
|                                                               |                 | Notes to Consolidated Financial Statements | 5 |   |
|                                                               |                 |   |   |   |
|                                                               | Item 2.              | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 31 |   |
|                                                               |                 |   |   |   |
|                                                               | Item 3.              | Quantitative and Qualitative Disclosures about Market Risk | 55 |   |
|                                                               |                 |   |   |   |
|                                                               | Item 4.              | Controls and Procedures | 55 |   |
|             |                 |   |
| PART II.                                                           | OTHER INFORMATION    |   |   |
|                                                               |                 |   |   |   |
|                                                               | Item 1.              | Legal Proceedings | 56 |   |
|                                                               |                 |   |   |   |
|                                                               | Item 4.              | Submission of Matters to a Vote of Security Holders | 56 |   |
|                                                               |                 |   |   |   |
|                                                               | Item 6.              | Exhibits | 56 |   |
|                                                               |                 |   |   |   |
| SIGNATURES                                                         | 57                   |   |

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Cons

|                                                                                                                     |   | June 30, |       |   | December 31, |   |
|--------------------------------------------------------------------------------------------------------------------------|--------|----------|------------|--------|--------------|--------|
|                                                                                                                     |   | 2009     |       |   | 2008         |   |
| ASSETS                                                                                                                   |   |     |       |   |         |   |
|                                                                                                                     |   |     |       |   |         |   |
| Cash and cash equivalents:                                                                                               |   |     |       |   |         |   |
| Cash and due from banks                                                                                                  |   | $        | 147,654    |   |         |   | 166,161 |   |
| Short-term investments                                                                                                   |   |     | 725,825    |   |         |   | 676,155 |   |
| Total cash and cash equivalents                                                                                          |   |     | 873,479    |   |         |   | 842,316 |   |
| Investment securities:                                                                                                   |   |     |       |   |         |   |   |   |
| Available for sale                                                                                                       |   |     | 676,288    |   |         |   | 605,014 |   |
| Held to maturity (fair value of $15,767 and $18,507, respectively)                                                       |   |     | 15,050     |   |         |   | 17,912 |   |
| Total investment securities                                                                                              |   |     | 691,338    |   |         |   | 622,926 |   |
| Loans:                                                                                                                   |   |     |       |   |         |   |   |   |
| Commercial, financial and agricultural                                                                                   |   |     | 2,456,057  |   |         |   | 2,575,505 |   |
| Real estate construction and development                                                                                 |   |     | 1,238,616  |   |         |   | 1,572,212 |   |
| Real estate mortgage                                                                                                     |   |     | 4,349,177  |   |         |   | 4,336,368 |   |
| Consumer and installment                                                                                                 |   |     | 70,951     |   |         |   | 77,877 |   |
| Loans held for sale                                                                                                      |   |     | 88,823     |   |         |   | 38,720 |   |
| Total loans                                                                                                              |   |     | 8,203,624  |   |         |   | 8,600,682 |   |
| Unearned discount                                                                                                        |   |     | (6,576     | )      |         |   | (7,707 | ) |
| Allowance for loan losses                                                                                                |   |     | (287,317   | )      |         |   | (220,214 | ) |
| Net loans                                                                                                                |   |     | 7,909,731  |   |         |   | 8,372,761 |   |
| Bank premises and equipment, net                                                                                         |   |     | 233,164    |   |         |   | 236,528 |   |
| Goodwill and other intangible assets                                                                                     |   |     | 305,073    |   |         |   | 306,800 |   |
| Bank-owned life insurance                                                                                                |   |     | 26,207     |   |         |   | 118,825 |   |
| Deferred income taxes                                                                                                    |   |     | 20,901     |   |         |   | 36,851 |   |
| Other real estate                                                                                                        |   |     | 156,944    |   |         |   | 91,524 |   |
| Other assets                                                                                                             |   |     | 178,828    |   |         |   | 154,623 |   |
| Total assets                                                                                                             |   | $        | 10,395,665 |   |         |   | 10,783,154 |   |
|                                                                                                                     |   |     |       |   |         |   |   |   |
| LIABILITIES                                                                                                              |   |     |       |   |         |   |   |   |
| Deposits:                                                                                                                |   |     |       |   |         |   |   |   |
| Noninterest-bearing demand                                                                                               |   | $        | 1,337,821  |   |         |   | 1,241,916 |   |
| Interest-bearing demand                                                                                                  |   |     | 929,224    |   |         |   | 935,805 |   |
| Savings and money market                                                                                                 |   |     | 2,893,479  |   |         |   | 2,777,285 |   |
| Time deposits of $100 or more                                                                                            |   |     | 1,214,335  |   |         |   | 1,254,652 |   |
| Other time deposits                                                                                                      |   |     | 2,334,486  |   |         |   | 2,531,862 |   |
| Total deposits                                                                                                           |   |     | 8,709,345  |   |         |   | 8,741,520 |   |
| Other borrowings                                                                                                         |   |     | 439,758    |   |         |   | 575,133 |   |
| Subordinated debentures                                                                                                  |   |     | 353,866    |   |         |   | 353,828 |   |
| Deferred income taxes                                                                                                    |   |     | 29,615     |   |         |   | 45,565 |   |
| Accrued expenses and other liabilities                                                                                   |   |     | 68,379     |   |         |   | 70,753 |   |
| Total liabilities                                                                                                        |   |     | 9,600,963  |   |         |   | 9,786,799 |   |
|                                                                                                                     |   |     |       |   |         |   |   |   |
| STOCKHOLDERS’ EQUITY                                                                                               |   |     |       |   |         |   |   |   |
| First Banks, Inc. stockholders’ equity:                                                                            |   |     |       |   |         |   |   |   |
| Preferred stock:                                                                                                         |   |     |       |   |         |   |   |   |
| $1.00 par value, 4,689,830 shares authorized, no shares issued and outstanding                                           |   |     | —    |   |         |   | — |   |
| Class A convertible, adjustable rate, $20.00 par value, 750,000 shares authorized, 641,082 shares issued and outstanding |   |     | 12,822     |   |         |   | 12,822 |   |
| Class B adjustable rate, $1.50 par value, 200,000 shares authorized, 160,505 shares issued and outstanding               |   |     | 241        |   |         |   | 241 |   |
| Class C fixed rate, cumulative, perpetual, $1.00 par value, 295,400 shares authorized, issued and outstanding            |   |     | 279,692    |   |         |   | 278,057 |   |
| Class D fixed rate, cumulative, perpetual, $1.00 par value, 14,770 shares authorized, issued and outstanding             |   |     | 17,343     |   |         |   | 17,343 |   |
| Common stock, $250.00 par value, 25,000 shares authorized, 23,661 shares issued and outstanding                          |   |     | 5,915      |   |         |   | 5,915 |   |
| Additional paid-in capital                                                                                               |   |     | 12,480     |   |         |   | 9,685 |   |
| Retained earnings                                                                                                        |   |     | 345,989    |   |         |   | 536,714 |   |
| Accumulated other comprehensive income                                                                                   |   |     | 316        |   |         |   | 6,195 |   |
| Total First Banks, Inc. stockholders’ equity                                                                       |   |     | 674,798    |   |         |   | 866,972 |   |
| Noncontrolling interest in subsidiaries                                                                                  |   |     | 119,904    |   |         |   | 129,383 |   |
| Total stockholders’ equity                                                                                         |   |     | 794,702    |   |         |   | 996,355 |   |
| Total liabilities and stockholders’ equity                                                                         |   | $        | 10,395,665 |   |         |   | 10,783,154 |   |

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|                                                                            |   | Three Months EndedJune 30, |      |   | Six Months EndedJune 30, |   |
|---------------------------------------------------------------------------------|--------|----------------------------|-----------|--------|--------------------------|--------|
|                                                                            |   | 2009                       |      |   | 2008                     |   |   | 2009 |   |   | 2008 |   |
| Interest income:                                                                |   |                       |      |   |                     |   |   |   |   |   |   |   |
| Interest and fees on loans                                                      |   | $                          | 109,677   |   |                     |   | 138,142 |   |   |   | 221,229 |   |   |   | 290,864 |   |
| Investment securities                                                           |   |                       | 7,191     |   |                     |   | 9,457 |   |   |   | 14,668 |   |   |   | 20,877 |   |
| Short-term investments                                                          |   |                       | 394       |   |                     |   | 154 |   |   |   | 904 |   |   |   | 316 |   |
| Total interest income                                                           |   |                       | 117,262   |   |                     |   | 147,753 |   |   |   | 236,801 |   |   |   | 312,057 |   |
| Interest expense:                                                               |   |                       |      |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Deposits:                                                                       |   |                       |      |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing demand                                                         |   |                       | 467       |   |                     |   | 1,321 |   |   |   | 920 |   |   |   | 3,353 |   |
| Savings and money market                                                        |   |                       | 7,386     |   |                     |   | 14,417 |   |   |   | 17,641 |   |   |   | 31,944 |   |
| Time deposits of $100 or more                                                   |   |                       | 9,732     |   |                     |   | 13,016 |   |   |   | 20,208 |   |   |   | 29,785 |   |
| Other time deposits                                                             |   |                       | 18,506    |   |                     |   | 22,728 |   |   |   | 38,559 |   |   |   | 50,515 |   |
| Other borrowings                                                                |   |                       | 1,677     |   |                     |   | 3,859 |   |   |   | 4,018 |   |   |   | 7,787 |   |
| Notes payable                                                                   |   |                       | 18        |   |                     |   | 696 |   |   |   | 37 |   |   |   | 1,265 |   |
| Subordinated debentures                                                         |   |                       | 4,304     |   |                     |   | 4,933 |   |   |   | 8,810 |   |   |   | 11,098 |   |
| Total interest expense                                                          |   |                       | 42,090    |   |                     |   | 60,970 |   |   |   | 90,193 |   |   |   | 135,747 |   |
| Net interest income                                                             |   |                       | 75,172    |   |                     |   | 86,783 |   |   |   | 146,608 |   |   |   | 176,310 |   |
| Provision for loan losses                                                       |   |                       | 112,000   |   |                     |   | 84,053 |   |   |   | 220,000 |   |   |   | 130,000 |   |
| Net interest (loss) income after provision for loan losses                      |   |                       | (36,828   | )      |                     |   | 2,730 |   |   |   | (73,392 | ) |   |   | 46,310 |   |
| Noninterest income:                                                             |   |                       |      |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Service charges on deposit accounts and customer service fees                   |   |                       | 14,052    |   |                     |   | 13,071 |   |   |   | 27,223 |   |   |   | 25,173 |   |
| Gain on loans sold and held for sale                                            |   |                       | 3,357     |   |                     |   | 968 |   |   |   | 7,470 |   |   |   | 2,648 |   |
| Net gain (loss) on investment securities                                        |   |                       | 652       |   |                     |   | (5,784 | ) |   |   | 1,184 |   |   |   | (4,623 | ) |
| Bank-owned life insurance investment income                                     |   |                       | 196       |   |                     |   | 724 |   |   |   | 562 |   |   |   | 1,697 |   |
| Investment management income                                                    |   |                       | 531       |   |                     |   | 686 |   |   |   | 1,058 |   |   |   | 2,042 |   |
| Insurance fee and commission income                                             |   |                       | 1,915     |   |                     |   | 1,930 |   |   |   | 4,157 |   |   |   | 3,904 |   |
| Net (loss) gain on derivative instruments                                       |   |                       | —   |   |                     |   | (1,646 | ) |   |   | 401 |   |   |   | 1,786 |   |
| Increase (decrease) in fair value of servicing rights                           |   |                       | 283       |   |                     |   | 555 |   |   |   | (1,702 | ) |   |   | (1,204 | ) |
| Loan servicing fees                                                             |   |                       | 2,189     |   |                     |   | 2,085 |   |   |   | 4,437 |   |   |   | 4,216 |   |
| Gain on extinguishment of term repurchase agreement                             |   |                       | —   |   |                     |   | — |   |   |   | — |   |   |   | 5,000 |   |
| Other                                                                           |   |                       | 3,987     |   |                     |   | 6,302 |   |   |   | 7,872 |   |   |   | 11,363 |   |
| Total noninterest income                                                        |   |                       | 27,162    |   |                     |   | 18,891 |   |   |   | 52,662 |   |   |   | 52,002 |   |
| Noninterest expense:                                                            |   |                       |      |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Salaries and employee benefits                                                  |   |                       | 31,398    |   |                     |   | 37,099 |   |   |   | 64,126 |   |   |   | 77,669 |   |
| Occupancy, net of rental income                                                 |   |                       | 9,349     |   |                     |   | 8,969 |   |   |   | 19,000 |   |   |   | 18,914 |   |
| Furniture and equipment                                                         |   |                       | 4,996     |   |                     |   | 5,473 |   |   |   | 10,220 |   |   |   | 10,902 |   |
| Postage, printing and supplies                                                  |   |                       | 1,343     |   |                     |   | 1,688 |   |   |   | 2,695 |   |   |   | 3,334 |   |
| Information technology fees                                                     |   |                       | 7,813     |   |                     |   | 9,052 |   |   |   | 16,042 |   |   |   | 18,391 |   |
| Legal, examination and professional fees                                        |   |                       | 4,069     |   |                     |   | 4,488 |   |   |   | 8,186 |   |   |   | 7,302 |   |
| Amortization of intangible assets                                               |   |                       | 2,328     |   |                     |   | 2,785 |   |   |   | 4,666 |   |   |   | 5,561 |   |
| Advertising and business development                                            |   |                       | 569       |   |                     |   | 1,983 |   |   |   | 1,542 |   |   |   | 3,447 |   |
| FDIC insurance                                                                  |   |                       | 10,009    |   |                     |   | 2,066 |   |   |   | 14,103 |   |   |   | 3,013 |   |
| Expenses on other real estate                                                   |   |                       | 2,984     |   |                     |   | 1,253 |   |   |   | 7,503 |   |   |   | 1,873 |   |
| Other                                                                           |   |                       | 8,656     |   |                     |   | 9,786 |   |   |   | 16,281 |   |   |   | 17,660 |   |
| Total noninterest expense                                                       |   |                       | 83,514    |   |                     |   | 84,642 |   |   |   | 164,364 |   |   |   | 168,066 |   |
| Loss before provision (benefit) for income taxes                                |   |                       | (93,180   | )      |                     |   | (63,021 | ) |   |   | (185,094 | ) |   |   | (69,754 | ) |
| Provision (benefit) for income taxes                                            |   |                       | 2,972     |   |                     |   | (23,137 | ) |   |   | 2,458 |   |   |   | (25,142 | ) |
| Net loss                                                                        |   |                       | (96,152   | )      |                     |   | (39,884 | ) |   |   | (187,552 | ) |   |   | (44,612 | ) |
| Less: net (loss) income attributable to noncontrolling interest in subsidiaries |   |                       | (2,833    | )      |                     |   | 33 |   |   |   | (4,827 | ) |   |   | 178 |   |
| Net loss attributable to First Banks, Inc.                                      |   | $                          | (93,319   | )      |                     |   | (39,917 | ) |   |   | (182,725 | ) |   |   | (44,790 | ) |
|                                                                            |   |                       |      |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Net loss available to common stockholders                                       |   | $                          | (98,298   | )      |                     |   | (40,049 | ) |   |   | (192,738 | ) |   |   | (45,118 | ) |
|                                                                            |   |                       |      |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Basic loss per common share                                                     |   | $                          | (4,154.41 | )      |                     |   | (1,692.61 | ) |   |   | (8,145.81 | ) |   |   | (1,906.87 | ) |
|                                                                            |   |                       |      |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Diluted loss per common share                                                   |   | $                          | (4,154.41 | )      |                     |   | (1,692.61 | ) |   |   | (8,145.81 | ) |   |   | (1,906.87 | ) |
|                                                                            |   |                       |      |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average shares of common stock outstanding                             |   |                       | 23,661    |   |                     |   | 23,661 |   |   |   | 23,661 |   |   |   | 23,661 |   |

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Conso

|                                                                                                              |   | First Banks, Inc. Stockholders’ Equity |          |   |   |   |    |               |   |
|-------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------|---------------|--------|--------|--------|---------|--------------------|--------|
|                                                                                                              |   | Preferred                                    |          |   | Common |   |    | Additional Paid-In |   |   | Retained |   |   | Accu-mulatedOtherCompre-hensive Income |   |   | Non-controlling |   |   | Total Stock-holders’ |   |
|                                                                                                              |   | Stock                                        |          |   | Stock  |   |    | Capital            |   |   | Earnings |   |   | (Loss) |   |   | Interest |   |   | Equity |   |
|                                                                                                              |   |                                         |          |   |   |   |    |               |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance, December 31, 2007                                                                                        |   | $                                            | 13,063        |   |   |   | 5,915   |               |   |   | 9,685 |   |   |   | 818,343 |   |   |   | (4,929 | ) |   |   | 5,544 |   |   |   | 847,621 |   |
| Comprehensive loss:                                                                                               |   |                                         |          |   |   |   |    |               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss                                                                                                          |   |                                         | —       |   |   |   | — |               |   |   | — |   |   |   | (287,155 | ) |   |   | — |   |   |   | (1,158 | ) |   |   | (288,313 | ) |
| Other comprehensive income (loss):                                                                                |   |                                         |          |   |   |   |    |               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Unrealized gains on investment securities, net of tax                                                             |   |                                         | —       |   |   |   | — |               |   |   | — |   |   |   | — |   |   |   | 6,043 |   |   |   | — |   |   |   | 6,043 |   |
| Reclassification adjustment for investment securities losses included in net loss, net of tax                     |   |                                         | —       |   |   |   | — |               |   |   | — |   |   |   | — |   |   |   | 5,694 |   |   |   | — |   |   |   | 5,694 |   |
| Change in unrealized gains on derivative instruments, net of tax                                                  |   |                                         | —       |   |   |   | — |               |   |   | — |   |   |   | — |   |   |   | 1,745 |   |   |   | — |   |   |   | 1,745 |   |
| Reclassification adjustment for establishment of  deferred tax asset valuation allowance on derivatives |   |                                         | —       |   |   |   | — |               |   |   | — |   |   |   | — |   |   |   | (1,707 | ) |   |   | — |   |   |   | (1,707 | ) |
| Pension liability adjustment, net of tax                                                                          |   |                                         | —       |   |   |   | — |               |   |   | — |   |   |   | — |   |   |   | (651 | ) |   |   | — |   |   |   | (651 | ) |
| Total comprehensive loss                                                                                          |   |                                         |          |   |   |   |    |               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (277,189 | ) |
| Change in noncontrolling interest ownership                                                                       |   |                                         | —       |   |   |   | — |               |   |   | — |   |   |   | — |   |   |   | — |   |   |   | 124,997 |   |   |   | 124,997 |   |
| Cumulative effect of change in accounting principle                                                               |   |                                         | —       |   |   |   | — |               |   |   | — |   |   |   | 6,312 |   |   |   | — |   |   |   | — |   |   |   | 6,312 |   |
| Issuance of Class C Preferred Stock                                                                               |   |                                         | 278,057       |   |   |   | — |               |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | 278,057 |   |
| Issuance of Class D Preferred Stock                                                                               |   |                                         | 17,343        |   |   |   | — |               |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | 17,343 |   |
| Preferred stock dividends declared                                                                                |   |                                         | —       |   |   |   | — |               |   |   | — |   |   |   | (786 | ) |   |   | — |   |   |   | — |   |   |   | (786 | ) |
| Balance, December 31, 2008                                                                                        |   |                                         | 308,463       |   |   |   | 5,915   |               |   |   | 9,685 |   |   |   | 536,714 |   |   |   | 6,195 |   |   |   | 129,383 |   |   |   | 996,355 |   |
| Comprehensive loss:                                                                                               |   |                                         |          |   |   |   |    |               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss                                                                                                          |   |                                         | —       |   |   |   | — |               |   |   | — |   |   |   | (182,725 | ) |   |   | — |   |   |   | (4,827 | ) |   |   | (187,552 | ) |
| Other comprehensive income (loss):                                                                                |   |                                         |          |   |   |   |    |               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Unrealized gains on investment securities, net of tax                                                             |   |                                         | —       |   |   |   | — |               |   |   | — |   |   |   | — |   |   |   | 1,386 |   |   |   | — |   |   |   | 1,386 |   |
| Reclassification adjustment for investment securities gains included in net loss, net of tax                      |   |                                         | —       |   |   |   | — |               |   |   | — |   |   |   | — |   |   |   | (770 | ) |   |   | — |   |   |   | (770 | ) |
| Change in unrealized gains on derivative instruments, net of tax                                                  |   |                                         | —       |   |   |   | — |               |   |   | — |   |   |   | — |   |   |   | (4,516 | ) |   |   | — |   |   |   | (4,516 | ) |
| Amortization of net loss related to pension plan liability, net of tax                                            |   |                                         | —       |   |   |   | — |               |   |   | — |   |   |   | — |   |   |   | 69 |   |   |   | — |   |   |   | 69 |   |
| Reclassification adjustments for deferred tax asset valuation allowance                                           |   |                                         | —       |   |   |   | — |               |   |   | — |   |   |   | — |   |   |   | (2,048 | ) |   |   | — |   |   |   | (2,048 | ) |
| Total comprehensive loss                                                                                          |   |                                         |          |   |   |   |    |               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |  (193,431 | )  |
| Purchase of noncontrolling interest in SBLS LLC                                                                   |   |                                         | —       |   |   |   | — |               |   |   | 2,795 |   |   |   | — |   |   |   | — |   |   |   | (4,652 | ) |   |   | (1,857 | ) |
| Accretion of discount on preferred stock                                                                          |   |                                         | 1,635         |   |   |   | — |               |   |   | — |   |   |   | (1,635 | ) |   |   | — |   |   |   | — |   |   |   | — |   |
| Preferred stock dividends declared                                                                                |   |                                         | —       |   |   |   | — |               |   |   | — |   |   |   | (6,365 | ) |   |   | — |   |   |   | — |   |   |   | (6,365 | ) |
| Balance, June 30, 2009                                                                                            |   | $                                       |  310,098 |   |   |   | 5,915   |               |   |   | 12,480 |   |   |   | 345,989 |   |   |   | 316 |   |   |   | 119,904 |   |   |   | 794,702 |   |

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Cons

|                                                                            |   | Six Months Ended June 30, |     |
|---------------------------------------------------------------------------------|--------|--------------------------------|----------|
|                                                                            |   | 2009                           |     |   | 2008 |   |
|                                                                            |   |                           |     |   |   |   |
| Cash flows from operating activities:                                           |   |                           |     |   |   |   |
| Net loss attributable to First Banks, Inc.                                      |   | $                              | (182,725 | ) |   |   | (44,790 | ) |
| Adjustments to reconcile net loss to net cash provided by operating activities: |   |                           |     |   |   |   |   |   |
| Depreciation and amortization of bank premises and equipment                    |   |                           | 11,904   |   |   |   | 12,310 |   |
| Amortization of intangible assets                                               |   |                           | 4,666    |   |   |   | 5,561 |   |
| Originations of loans held for sale                                             |   |                           | (372,363 | ) |   |   | (123,468 | ) |
| Proceeds from sales of loans held for sale                                      |   |                           | 328,077  |   |   |   | 160,920 |   |
| Payments received on loans held for sale                                        |   |                           | 1,109    |   |   |   | 12,828 |   |
| Provision for loan losses                                                       |   |                           | 220,000  |   |   |   | 130,000 |   |
| Benefit for current income taxes                                                |   |                           | (31,131  | ) |   |   | (15,087 | ) |
| Benefit for deferred income taxes                                               |   |                           | (44,150  | ) |   |   | (10,627 | ) |
| Increase in deferred tax asset valuation allowance                              |   |                           | 77,739   |   |   |   | 572 |   |
| Decrease in accrued interest receivable                                         |   |                           | 3,326    |   |   |   | 10,215 |   |
| Decrease in accrued interest payable                                            |   |                           | (3,332   | ) |   |   | (4,422 | ) |
| Decrease in current income taxes receivable                                     |   |                           | 62,050   |   |   |   | 3,066 |   |
| Gain on loans sold and held for sale                                            |   |                           | (7,470   | ) |   |   | (2,648 | ) |
| Net (gain) loss on investment securities                                        |   |                           | (1,184   | ) |   |   | 4,623 |   |
| Net gain on derivative instruments                                              |   |                           | (401     | ) |   |   | (1,786 | ) |
| Decrease in fair value of servicing rights                                      |   |                           | 1,702    |   |   |   | 1,204 |   |
| Gain on extinguishment of term repurchase agreement                             |   |                           | —  |   |   |   | (5,000 | ) |
| Other operating activities, net                                                 |   |                           | 12,024   |   |   |   | 4,602 |   |
| Net (loss) income attributable to noncontrolling interest in subsidiaries       |   |                           | (4,827   | ) |   |   | 178 |   |
| Net cash provided by operating activities                                       |   |                           | 75,014   |   |   |   | 138,251 |   |
| Cash flows from investing activities:                                           |   |                           |     |   |   |   |   |   |
| Cash paid for earn-out consideration to Adrian N. Baker & Company           |   |                           | (2,939   | ) |   |   | (2,920 | ) |
| Proceeds from sales of investment securities available for sale                 |   |                           | 94,237   |   |   |   | 127,384 |   |
| Maturities of investment securities available for sale                          |   |                           | 132,947  |   |   |   | 186,179 |   |
| Maturities of investment securities held to maturity                            |   |                           | 2,852    |   |   |   | 1,216 |   |
| Purchases of investment securities available for sale                           |   |                           | (296,577 | ) |   |   | (22,519 | ) |
| Purchases of investment securities held to maturity                             |   |                           | —  |   |   |   | (1,557 | ) |
| Proceeds from sales of commercial loans held for sale                           |   |                           | 1,366    |   |   |   | 3,421 |   |
| Net decrease (increase) in loans                                                |   |                           | 183,223  |   |   |   | (301,466 | ) |
| Recoveries of loans previously charged-off                                      |   |                           | 6,137    |   |   |   | 3,471 |   |
| Purchases of bank premises and equipment                                        |   |                           | (8,909   | ) |   |   | (12,837 | ) |
| Net proceeds from sales of other real estate owned                              |   |                           | 19,256   |   |   |   | 5,685 |   |
| Cash paid for purchase of noncontrolling interest in SBLS LLC                   |   |                           | (1,616   | ) |   |   | — |   |
| Cash received for noncontrolling interest in FB Holdings, LLC                   |   |                           | —  |   |   |   | 85,000 |   |
| Other investing activities, net                                                 |   |                           | 87       |   |   |   | 2,497 |   |
| Net cash provided by investing activities                                       |   |                           | 130,064  |   |   |   | 73,554 |   |
| Cash flows from financing activities:                                           |   |                           |     |   |   |   |   |   |
| Increase in demand, savings and money market deposits                           |   |                           | 205,518  |   |   |   | 200,688 |   |
| Decrease in time deposits                                                       |   |                           | (237,693 | ) |   |   | (500,018 | ) |
| Decrease in Federal Reserve Bank advances                                       |   |                           | (100,000 | ) |   |   | — |   |
| (Decrease) increase in Federal Home Loan Bank advances                          |   |                           | (34      | ) |   |   | 299,914 |   |
| Decrease in federal funds purchased                                             |   |                           | —  |   |   |   | (76,500 | ) |
| Decrease in securities sold under agreements to repurchase                      |   |                           | (35,341  | ) |   |   | (35,389 | ) |
| Advances drawn on notes payable                                                 |   |                           | —  |   |   |   | 55,000 |   |
| Repayments of notes payable                                                     |   |                           | —  |   |   |   | (64,000 | ) |
| Payment of preferred stock dividends                                            |   |                           | (6,365   | ) |   |   | (328 | ) |
| Net cash used in financing activities                                           |   |                           | (173,915 | ) |   |   | (120,633 | ) |
| Net increase in cash and cash equivalents                                       |   |                           | 31,163   |   |   |   | 91,172 |   |
| Cash and cash equivalents, beginning of period                                  |   |                           | 842,316  |   |   |   | 231,675 |   |
| Cash and cash equivalents, end of period                                        |   | $                              | 873,479  |   |   |   | 322,847 |   |
|                                                                            |   |                           |     |   |   |   |   |   |
| Supplemental disclosures of cash flow information:                              |   |                           |     |   |   |   |   |   |
| Cash paid (received) during the period for:                                     |   |                           |     |   |   |   |   |   |
| Interest on liabilities                                                         |   | $                              | 93,525   |   |   |   | 141,162 |   |
| Income taxes                                                                    |   |                           | (61,924  | ) |   |   | (5,259 | ) |
| Noncash investing and financing activities:                                     |   |                           |     |   |   |   |   |   |
| Cumulative effect of change in accounting principle                             |   | $                              | —  |   |   |   | 6,312 |   |
| Loans transferred to other real estate                                          |   |                           | 94,660   |   |   |   | 17,382 |   |

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Not

| (1)  | Basis of Presentation |
|-----------|-----------------------|

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Table of Contents

| (2)  | Investments in Debt and Equity Securities |
|-----------|-------------------------------------------|

|                                                     |   | Maturity                         |    |   | Total     |   |    | Gross      |   |   |     |   |   | Weighted  |    |
|----------------------------------------------------------|--------|----------------------------------|---------|--------|-----------|--------|---------|------------|--------|--------|----------|--------|--------|-----------|---------|
|                                                     |   | 1 Year                           |    |   |  1-5 |   |    |  5-10 |   |   | After    |   |   | Amortized |    |   | Unrealized |   |   | Fair |   |   | Average |   |
|                                                     |   | or Less                          |    |   | Years     |   |    | Years      |   |   | 10 Years |   |   | Cost      |    |   | Gains |   |   | Losses |   |   | Value |   |   | Yield |   |
|                                                     |   | (dollars expressed in thousands) |    |
| June 30, 2009:                                           |   |                             |    |   |      |   |    |       |   |   |     |   |   |      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Carrying value:                                          |   |                             |    |   |      |   |    |       |   |   |     |   |   |      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| U.S. Government sponsored agencies                       |   | $                                | 782     |   |      |   | 26,608  |       |   |   | 6,822    |   |   |      | — |   |   |   | 34,212 |   |   |   | 65 |   |   |   | (504 | ) |   |   | 33,773 |   |   |   | 2.65 | % |
| Mortgage-backed securities                               |   |                             | 1,691   |   |      |   | 28,646  |       |   |   | 34,583   |   |   |      | 490,866 |   |   |   | 555,786 |   |   |   | 5,385 |   |   |   | (2,883 | ) |   |   | 558,288 |   |   |   | 4.44 |   |
| State and political subdivisions                         |   |                             | 3,424   |   |      |   | 8,067   |       |   |   | 5,573    |   |   |      | 468     |   |   |   | 17,532 |   |   |   | 334 |   |   |   | (49 | ) |   |   | 17,817 |   |   |   | 4.13 |   |
| Equity investments                                       |   |                             | — |   |      |   | — |       |   |   | —  |   |   |      | 16,983  |   |   |   | 16,983 |   |   |   | 21 |   |   |   | (1,476 | ) |   |   | 15,528 |   |   |   | 2.91 |   |
| FHLB and Federal Reserve Bank stock (no stated maturity) |   |                             | 50,882  |   |      |   | — |       |   |   | —  |   |   |      | — |   |   |   | 50,882 |   |   |   | — |   |   |   | — |   |   |   | 50,882 |   |   |   | 4.04 |   |
| Total                                                    |   | $                                | 56,779  |   |      |   | 63,321  |       |   |   | 46,978   |   |   |      | 508,317 |   |   |   | 675,395 |   |   |   | 5,805 |   |   |   | (4,912 | ) |   |   | 676,288 |   |   |   | 4.27 |   |
| Fair value:                                              |   |                             |    |   |      |   |    |       |   |   |     |   |   |      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Debt securities                                          |   | $                                | 5,964   |   |      |   | 63,406  |       |   |   | 47,511   |   |   |      | 492,997 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Equity securities                                        |   |                             | 50,882  |   |      |   | — |       |   |   | —  |   |   |      | 15,528  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                                                    |   | $                                | 56,846  |   |      |   | 63,406  |       |   |   | 47,511   |   |   |      | 508,525 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                     |   |                             |    |   |      |   |    |       |   |   |     |   |   |      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average yield                                   |   |                             | 4.10    | %      |      |   | 3.32    | %          |   |   | 4.19     | %      |   |      | 4.42    | % |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                     |   |                             |    |   |      |   |    |       |   |   |     |   |   |      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| December 31, 2008:                                       |   |                             |    |   |      |   |    |       |   |   |     |   |   |      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Carrying value:                                          |   |                             |    |   |      |   |    |       |   |   |     |   |   |      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| U.S. Government sponsored agencies                       |   | $                                | 779     |   |      |   | 499     |       |   |   | 485      |   |   |      | — |   |   |   | 1,763 |   |   |   | 83 |   |   |   | — |   |   |   | 1,846 |   |   |   | 5.35 | % |
| Mortgage-backed securities                               |   |                             | 2,376   |   |      |   | 17,594  |       |   |   | 35,804   |   |   |      | 461,634 |   |   |   | 517,408 |   |   |   | 3,171 |   |   |   | (3,448 | ) |   |   | 517,131 |   |   |   | 5.14 |   |
| State and political subdivisions                         |   |                             | 4,687   |   |      |   | 9,246   |       |   |   | 6,565    |   |   |      | 584     |   |   |   | 21,082 |   |   |   | 229 |   |   |   | (102 | ) |   |   | 21,209 |   |   |   | 4.17 |   |
| Equity investments                                       |   |                             | — |   |      |   | — |       |   |   | —  |   |   |      | 16,984  |   |   |   | 16,984 |   |   |   | 12 |   |   |   | — |   |   |   | 16,996 |   |   |   | 4.00 |   |
| FHLB and Federal Reserve Bank stock (no stated maturity) |   |                             | 47,832  |   |      |   | — |       |   |   | —  |   |   |      | — |   |   |   | 47,832 |   |   |   | — |   |   |   | — |   |   |   | 47,832 |   |   |   | 4.70 |   |
| Total                                                    |   | $                                | 55,674  |   |      |   | 27,339  |       |   |   | 42,854   |   |   |      | 479,202 |   |   |   | 605,069 |   |   |   | 3,495 |   |   |   | (3,550 | ) |   |   | 605,014 |   |   |   | 5.04 |   |
| Fair value:                                              |   |                             |    |   |      |   |    |       |   |   |     |   |   |      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Debt securities                                          |   | $                                | 7,918   |   |      |   | 27,706  |       |   |   | 43,491   |   |   |      | 461,071 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Equity securities                                        |   |                             | 47,832  |   |      |   | — |       |   |   | —  |   |   |      | 16,996  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                                                    |   | $                                | 55,750  |   |      |   | 27,706  |       |   |   | 43,491   |   |   |      | 478,067 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average yield                                   |   |                             | 4.69    | %      |      |   | 4.22    | %          |   |   | 4.30     | %      |   |      | 5.19    | % |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|                             |   | Maturity                         |    |   | Total     |   |    | Gross      |   |   |     |   |   | Weighted  |   |
|----------------------------------|--------|----------------------------------|---------|--------|-----------|--------|---------|------------|--------|--------|----------|--------|--------|-----------|--------|
|                             |   | 1 Year                           |    |   |  1-5 |   |    |  5-10 |   |   | After    |   |   | Amortized |   |   | Unrealized |   |   | Fair |   |   | Average |   |
|                             |   | or Less                          |    |   | Years     |   |    | Years      |   |   | 10 Years |   |   | Cost      |   |   | Gains |   |   | Losses |   |   | Value |   |   | Yield |   |
|                             |   | (dollars expressed in thousands) |    |
| June 30, 2009:                   |   |                             |    |   |      |   |    |       |   |   |     |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Carrying value:                  |   |                             |    |   |      |   |    |       |   |   |     |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Mortgage-backed securities       |   | $                                | — |   |      |   | 6,613   |       |   |   | 1,789    |   |   |      | 2,636  |   |   |   | 11,038 |   |   |   | 450 |   |   |   | — |   |   |   | 11,488 |   |   |   | 5.29 | % |
| State and political subdivisions |   |                             | 320     |   |      |   | 1,514   |       |   |   | 645      |   |   |      | 1,533  |   |   |   | 4,012 |   |   |   | 267 |   |   |   | — |   |   |   | 4,279 |   |   |   | 5.35 |   |
| Total                            |   | $                                | 320     |   |      |   | 8,127   |       |   |   | 2,434    |   |   |      | 4,169  |   |   |   | 15,050 |   |   |   | 717 |   |   |   | — |   |   |   | 15,767 |   |   |   | 5.31 |   |
| Fair value:                      |   |                             |    |   |      |   |    |       |   |   |     |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Debt securities                  |   | $                                | 322     |   |      |   | 8,498   |       |   |   | 2,518    |   |   |      | 4,429  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                             |   |                             |    |   |      |   |    |       |   |   |     |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average yield           |   |                             | 3.15    | %      |      |   | 4.31    | %          |   |   | 4.68     | %      |   |      | 6.13   | % |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                             |   |                             |    |   |      |   |    |       |   |   |     |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| December 31, 2008:               |   |                             |    |   |      |   |    |       |   |   |     |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Carrying value:                  |   |                             |    |   |      |   |    |       |   |   |     |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Mortgage-backed securities       |   | $                                | — |   |      |   | — |       |   |   | 7,417    |   |   |      | 4,265  |   |   |   | 11,682 |   |   |   | 338 |   |   |   | — |   |   |   | 12,020 |   |   |   | 5.13 | % |
| State and political subdivisions |   |                             | 1,964   |   |      |   | 1,849   |       |   |   | 625      |   |   |      | 1,792  |   |   |   | 6,230 |   |   |   | 258 |   |   |   | (1 | ) |   |   | 6,487 |   |   |   | 4.97 |   |
| Total                            |   | $                                | 1,964   |   |      |   | 1,849   |       |   |   | 8,042    |   |   |      | 6,057  |   |   |   | 17,912 |   |   |   | 596 |   |   |   | (1 | ) |   |   | 18,507 |   |   |   | 5.07 |   |
| Fair value:                      |   |                             |    |   |      |   |    |       |   |   |     |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Debt securities                  |   | $                                | 1,974   |   |      |   | 1,900   |       |   |   | 8,299    |   |   |      | 6,334  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                             |   |                             |    |   |      |   |    |       |   |   |     |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average yield           |   |                             | 4.19    | %      |      |   | 4.12    | %          |   |   | 5.10     | %      |   |      | 5.62   | % |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

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Table of Contents

|                            |   | Three Months EndedJune 30,       |    |   | Six Months EndedJune 30, |   |
|---------------------------------|--------|----------------------------------|---------|--------|--------------------------|--------|
|                            |   | 2009                             |    |   | 2008                     |   |   | 2009 |   |   | 2008 |   |
|                            |   | (dollars expressed in thousands) |    |
|                            |   |                             |    |   |                     |   |   |   |   |   |   |   |
| Gross realized gains on sales   |   | $                                | 1,272   |   |                     |   | 507 |   |   |   | 1,790 |   |   |   | 1,375 |   |
| Gross realized losses on sales  |   |                             | (620    | )      |                     |   | — |   |   |   | (621 | ) |   |   | (4 | ) |
| Gross realized gains on calls   |   |                             | — |   |                     |   | 91 |   |   |   | 15 |   |   |   | 388 |   |
| Other-than-temporary impairment |   |                             | — |   |                     |   | (6,382 | ) |   |   | — |   |   |   | (6,382 | ) |
| Net realized gains (losses)     |   | $                                | 652     |   |                     |   | (5,784 | ) |   |   | 1,184 |   |   |   | (4,623 | ) |

|                               |   | June 30, 2009                    |    |
|------------------------------------|--------|----------------------------------|---------|
|                               |   | Less than 12 months              |    |   | 12 months or more |   |   |  Total |   |
|                               |   | Fair                             |    |   | Unrealized |   |   | Fair |   |   | Unrealized |   |   | Fair |   |   | Unrealized |   |
|                               |   | Value                            |    |   | Losses |   |   | Value |   |   | Losses |   |   | Value |   |   | Losses |   |
|                               |   | (dollars expressed in thousands) |    |
| Available for sale:                |   |                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| U.S. Government sponsored agencies |   | $                                | 31,427  |   |   |   | (504 | ) |   |   | — |   |   |   | — |   |   |   | 31,427 |   |   |   | (504 | ) |
| Mortgage-backed securities         |   |                             | 169,193 |   |   |   | (2,705 | ) |   |   | 2,140 |   |   |   | (178 | ) |   |   | 171,333 |   |   |   | (2,883 | ) |
| State and political subdivisions   |   |                             | 1,084   |   |   |   | (29 | ) |   |   | 270 |   |   |   | (20 | ) |   |   | 1,354 |   |   |   | (49 | ) |
| Equity investments                 |   |                             | 4,806   |   |   |   | (1,476 | ) |   |   | — |   |   |   | — |   |   |   | 4,806 |   |   |   | (1,476 | ) |
| Total                              |   | $                                | 206,510 |   |   |   | (4,714 | ) |   |   | 2,410 |   |   |   | (198 | ) |   |   | 208,920 |   |   |   | (4,912 | ) |
|                               |   |                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Held to maturity:                  |   |                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| State and political subdivisions   |   | $                                | — |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |   |   | — |   |

|                             |   | December 31, 2008                |    |
|----------------------------------|--------|----------------------------------|---------|
|                             |   | Less than 12 months              |    |   | 12 months or more |   |   | Total |   |
|                             |   | Fair                             |    |   | Unrealized |   |   | Fair |   |   | Unrealized |   |   | Fair |   |   | Unrealized |   |
|                             |   | Value                            |    |   | Losses |   |   | Value |   |   | Losses |   |   | Value |   |   | Losses |   |
|                             |   | (dollars expressed in thousands) |    |
| Available for sale:              |   |                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Mortgage-backed securities       |   | $                                | 123,944 |   |   |   | (1,711 | ) |   |   | 114,600 |   |   |   | (1,737 | ) |   |   | 238,544 |   |   |   | (3,448 | ) |
| State and political subdivisions |   |                             | 4,479   |   |   |   | (101 | ) |   |   | 25 |   |   |   | (1 | ) |   |   | 4,504 |   |   |   | (102 | ) |
| Total                            |   | $                                | 128,423 |   |   |   | (1,812 | ) |   |   | 114,625 |   |   |   | (1,738 | ) |   |   | 243,048 |   |   |   | (3,550 | ) |
|                             |   |                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Held to maturity:                |   |                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| State and political subdivisions |   | $                                | 202     |   |   |   | (1 | ) |   |   | — |   |   |   | — |   |   |   | 202 |   |   |   | (1 | ) |

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Table of Contents

| (3)  | Goodwill And Other Intangible Assets |
|-----------|--------------------------------------|

|                           |   | June 30, 2009                    |    |   | December 31, 2008             |   |
|--------------------------------|--------|----------------------------------|---------|--------|-------------------------------|--------|
|                           |   | GrossCarryingAmount              |    |   |  AccumulatedAmortization |   |   | Gross CarryingAmount |   |   | AccumulatedAmortization |   |
|                           |   | (dollars expressed in thousands) |    |
|                           |   |                             |    |   |                          |   |   |   |   |   |   |   |
| Amortized intangible assets:   |   |                             |    |   |                          |   |   |   |   |   |   |   |
| Core deposit intangibles (1)   |   | $                                | 41,410  |   |                          |   | (24,541 | ) |   |   | 53,916 |   |   |   | (33,251 | ) |
| Customer list intangibles      |   |                             | 23,320  |   |                          |   | (4,650 | ) |   |   | 23,320 |   |   |   | (3,903 | ) |
| Other intangibles (2)          |   |                             | 2,210   |   |                          |   | (1,643 | ) |   |   | 2,385 |   |   |   | (1,695 | ) |
| Total                          |   | $                                | 66,940  |   |                          |   | (30,834 | ) |   |   | 79,621 |   |   |   | (38,849 | ) |
|                           |   |                             |    |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Unamortized intangible assets: |   |                             |    |   |                          |   |   |   |   |   |   |   |   |   |   |   |
| Goodwill                       |   | $                                | 268,967 |   |                          |   |   |   |   |   | 266,028 |   |   |   |   |   |

|   | _________________ |
|--------|-------------------|
|   | (1)               | The gross carrying amount and accumulated amortization for core deposit intangibles at June 30, 2009 have been reduced by $12.5 million related to core deposit intangibles associated with certain acquisitions that became fully amortized in December 2008. |
|   | (2)               | The gross carrying amount and accumulated amortization for other intangibles at June 30, 2009 have been reduced by $175,000 related to other intangibles associated with certain acquisitions that became fully amortized in May 2009. |

|                     |  (dollars expressed in thousands) |
|--------------------------|----------------------------------------|
| Year ending December 31: |                                   |   |   |
| 2009 remaining           |                                   | $ | 4,614 |   |
| 2010                     |                                   |   | 8,852 |   |
| 2011                     |                                   |   | 6,674 |   |
| 2012                     |                                   |   | 2,459 |   |
| 2013                     |                                   |   | 1,524 |   |
| 2014                     |                                   |   | 1,473 |   |
| Thereafter               |                                   |   | 10,510 |   |
| Total                    |                                   | $ | 36,106 |   |

|                                    |   | Three Months Ended               |    |   | Six Months Ended |   |
|-----------------------------------------|--------|----------------------------------|---------|--------|------------------|--------|
|                                    |   | June 30,                         |    |   | June 30,         |   |
|                                    |   | 2009                             |    |   | 2008             |   |   | 2009 |   |   | 2008 |   |
|                                    |   | (dollars expressed in thousands) |    |
|                                    |   |                             |    |   |             |   |   |   |   |   |   |   |
| Balance, beginning of period            |   | $                                | 266,028 |   |             |   | 264,379 |   |   |   | 266,028 |   |   |   | 263,747 |   |
| Goodwill acquired during the period (1) |   |                             | 2,939   |   |             |   | 2,920 |   |   |   | 2,939 |   |   |   | 2,920 |   |
| Acquisition-related adjustments (2)     |   |                             | — |   |             |   | (1,221 | ) |   |   | — |   |   |   | (589 | ) |
| Balance, end of period                  |   | $                                | 268,967 |   |             |   | 266,078 |   |   |   | 268,967 |   |   |   | 266,078 |   |

|   | _________________ |
|--------|-------------------|
|   | (1)               | Goodwill acquired during 2009 and 2008 pertains to additional earn-out consideration associated with the acquisition of ANB in March 2006. |
|   | (2)               | Acquisition-related adjustments include additional purchase accounting adjustments for prior years’ acquisitions necessary to appropriately adjust preliminary goodwill recorded at the time of the acquisition, which was based upon current estimates available at that time, to reflect the receipt of additional valuation data. Acquisition-relatedadjustments recorded in 2008 pertain to the acquisition of CFHI in November 2007. |

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Table of Contents

| (4)  | Servicing Rights |
|-----------|------------------|

|                                                                                                                  |   | Three Months Ended               |    |   | Six Months Ended |   |
|-----------------------------------------------------------------------------------------------------------------------|--------|----------------------------------|---------|--------|------------------|--------|
|                                                                                                                  |   | June 30,                         |    |   | June 30,         |   |
|                                                                                                                  |   | 2009                             |    |   | 2008             |   |   | 2009 |   |   | 2008 |   |
|                                                                                                                  |   | (dollars expressed in thousands) |    |
|                                                                                                                  |   |                             |    |   |             |   |   |   |   |   |   |   |
| Balance, beginning of period                                                                                          |   | $                                | 7,841   |   |             |   | 14,169 |   |   |   | 7,418 |   |   |   | 5,290 |   |
| Re-measurement to fair value upon election to measure  servicing rights at fair value under SFAS No. 156    |   |                             | — |   |             |   | — |   |   |   | — |   |   |   | 9,538 |   |
| Originated mortgage servicing rights                                                                                  |   |                             | 2,486   |   |             |   | 998 |   |   |   | 3,628 |   |   |   | 1,673 |   |
| Change in fair value resulting from changes in valuation  inputs or assumptions used in valuation model (1) |   |                             | 1,431   |   |             |   | 1,235 |   |   |   | 1,615 |   |   |   | 551 |   |
| Other changes in fair value (2)                                                                                       |   |                             | (1,072  | )      |             |   | (435 | ) |   |   | (1,975 | ) |   |   | (1,085 | ) |
| Balance, end of period                                                                                                |   | $                                | 10,686  |   |             |   | 15,967 |   |   |   | 10,686 |   |   |   | 15,967 |   |

|   | _________________ |
|--------|-------------------|
|   | (1)               | The change in fair value resulting from changes in valuation inputs or assumptions used in valuation model primarily reflects the change in discount rates and prepayment speed assumptions, primarily due to changes in interest rates. |
|   | (2)               | Other changes in fair value reflect changes due to the collection/realization of expected cash flows over time. |

|                                                                                                       |   | Three Months Ended               |    |   | Six Months Ended |   |
|------------------------------------------------------------------------------------------------------------|--------|----------------------------------|---------|--------|------------------|--------|
|                                                                                                       |   | June 30,                         |    |   | June 30,         |   |
|                                                                                                       |   | 2009                             |    |   | 2008             |   |   | 2009 |   |   | 2008 |   |
|                                                                                                       |   | (dollars expressed in thousands) |    |
|                                                                                                       |   |                             |    |   |             |   |   |   |   |   |   |   |
| Balance, beginning of period                                                                               |   | $                                | 7,905   |   |             |   | 9,310 |   |   |   | 8,963 |   |   |   | 7,468 |   |
| Re-measurement to fair value upon election to measure servicing rights at fair value under SFAS No. 156    |   |                             | — |   |             |   | — |   |   |   | — |   |   |   | 905 |   |
| Originated SBA servicing rights                                                                            |   |                             | 294     |   |             |   | 691 |   |   |   | 502 |   |   |   | 2,053 |   |
| Change in fair value resulting from changes in valuation inputs or assumptions used in valuation model (1) |   |                             | 316     |   |             |   | 134 |   |   |   | (593 | ) |   |   | 15 |   |
| Other changes in fair value (2)                                                                            |   |                             | (392    | )      |             |   | (379 | ) |   |   | (749 | ) |   |   | (685 | ) |
| Balance, end of period                                                                                     |   | $                                | 8,123   |   |             |   | 9,756 |   |   |   | 8,123 |   |   |   | 9,756 |   |

|   | _________________ |
|--------|-------------------|
|   | (1)               | The change in fair value resulting from changes in valuation inputs or assumptions used in valuation model primarily reflects the change in discount rates and prepayment speed assumptions, primarily due to changes in interest rates. |
|   | (2)               | Other changes in fair value reflect changes due to the collection/realization of expected cash flows over time. |

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Table of Contents

| (5)  | Loss Per Common Share |
|-----------|-----------------------|

|                                                                                                   |   | Three Months EndedJune 30,                              |      |   | Six Months EndedJune 30, |   |
|--------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------|-----------|--------|--------------------------|--------|
|                                                                                                   |   | 2009                                                    |      |   | 2008                     |   |   | 2009 |   |   | 2008 |   |
|                                                                                                   |   | (dollars in thousands, except share and per share data) |      |
|                                                                                                   |   |                                                    |      |   |                     |   |   |   |   |   |   |   |
| Basic:                                                                                                 |   |                                                    |      |   |                     |   |   |   |   |   |   |   |
| Net loss attributable to First Banks, Inc.                                                             |   | $                                                       | (93,319   | )      |                     |   | (39,917 | ) |   |   | (182,725 | ) |   |   | (44,790 | ) |
| Preferred stock dividends declared and undeclared                                                      |   |                                                    | (4,157    | )      |                     |   | (132 | ) |   |   | (8,378 | ) |   |   | (328 | ) |
| Accretion of discount on preferred stock                                                               |   |                                                    | (822      | )      |                     |   | — |   |   |   | (1,635 | ) |   |   | — |   |
| Net loss available to First Banks, Inc. common stockholders                                            |   | $                                                       | (98,298   | )      |                     |   | (40,049 | ) |   |   | (192,738 | ) |   |   | (45,118 | ) |
|                                                                                                   |   |                                                    |      |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average shares of common stock outstanding                                                    |   |                                                    | 23,661    |   |                     |   | 23,661 |   |   |   | 23,661 |   |   |   | 23,661 |   |
|                                                                                                   |   |                                                    |      |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Basic loss per common share                                                                            |   | $                                                       | (4,154.41 | )      |                     |   | (1,692.61 | ) |   |   | (8,145.81 | ) |   |   | (1,906.87 | ) |
|                                                                                                   |   |                                                    |      |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Diluted:                                                                                               |   |                                                    |      |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Net loss available to First Banks, Inc. common stockholders                                            |   | $                                                       | (98,298   | )      |                     |   | (40,049 | ) |   |   | (192,738 | ) |   |   | (45,118 | ) |
| Effect of dilutive securities:                                                                         |   |                                                    |      |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Class A convertible preferred stock                                                                    |   |                                                    | —   |   |                     |   | — |   |   |   | — |   |   |   | — |   |
| Diluted EPS – net loss available to First Banks, Inc.    common stockholders |   | $                                                       | (98,298   | )      |                     |   | (40,049 | ) |   |   | (192,738 | ) |   |   | (45,118 | ) |
|                                                                                                   |   |                                                    |      |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average shares of common stock outstanding                                                    |   |                                                    | 23,661    |   |                     |   | 23,661 |   |   |   | 23,661 |   |   |   | 23,661 |   |
| Effect of dilutive securities:                                                                         |   |                                                    |      |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Class A convertible preferred stock                                                                    |   |                                                    | —   |   |                     |   | — |   |   |   | — |   |   |   | — |   |
|                                                                                                   |   |                                                    |      |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average diluted shares of common stock outstanding                                            |   |                                                    | 23,661    |   |                     |   | 23,661 |   |   |   | 23,661 |   |   |   | 23,661 |   |
|                                                                                                   |   |                                                    |      |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Diluted loss per common share                                                                          |   | $                                                       | (4,154.41 | )      |                     |   | (1,692.61 | ) |   |   | (8,145.81 | ) |   |   | (1,906.87 | ) |

| (6)  | Transactions With Related Parties |
|-----------|-----------------------------------|

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Table of Contents

| (7)  | Regulatory Capital |
|-----------|--------------------|

|                                      |   | Actual                           |    |   | ForCapitalAdequacyPurposes |   |   | To be WellCapitalized UnderPrompt CorrectiveActionProvisions |   |
|-------------------------------------------|--------|----------------------------------|---------|--------|----------------------------|--------|--------|--------------------------------------------------------------|--------|
|                                      |   | June 30, 2009                    |    |   | December 31, 2008          |   |   |                                                         |   |   |
|                                      |   | Amount                           |    |   | Ratio                      |   |   | Amount                                                       |   |   | Ratio |   |   |   |   |   |
|                                      |   | (dollars expressed in thousands) |    |   |                       |   |   |                                                         |   |
|                                      |   |                             |    |   |                       |   |   |                                                         |   |   |   |   |   |   |   |   |   |   |
| Total capital (to risk-weighted assets):  |   |                             |    |   |                       |   |   |                                                         |   |   |   |   |   |   |   |   |   |   |
| First Banks                               |   | $                                | 945,969 |   |                       |   | 10.72  | %                                                            |   | $ | 1,148,407 |   |   |   | 12.11 | % |   |   | 8.0 | % |   |   | 10.0 | % |
| First Bank                                |   |                             | 896,163 |   |                       |   | 10.17  |                                                         |   |   | 1,042,948 |   |   |   | 11.01 |   |   |   | 8.0 |   |   |   | 10.0 |   |
|                                      |   |                             |    |   |                       |   |   |                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tier 1 capital (to risk-weighted assets): |   |                             |    |   |                       |   |   |                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| First Banks                               |   |                             | 593,439 |   |                       |   | 6.73   |                                                         |   |   | 841,152 |   |   |   | 8.87 |   |   |   | 4.0 |   |   |   | 6.0 |   |
| First Bank                                |   |                             | 783,766 |   |                       |   | 8.89   |                                                         |   |   | 923,318 |   |   |   | 9.75 |   |   |   | 4.0 |   |   |   | 6.0 |   |
|                                      |   |                             |    |   |                       |   |   |                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Tier 1 capital (to average assets):       |   |                             |    |   |                       |   |   |                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| First Banks                               |   |                             | 593,439 |   |                       |   | 5.89   |                                                         |   |   | 841,152 |   |   |   | 8.04 |   |   |   | 3.0 |   |   |   | 5.0 |   |
| First Bank                                |   |                             | 783,766 |   |                       |   | 7.79   |                                                         |   |   | 923,318 |   |   |   | 8.85 |   |   |   | 3.0 |   |   |   | 5.0 |   |

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Table of Contents

| (8)  | Business Segment Results |
|-----------|--------------------------|

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Table of Contents

|                                 |   |                             |       |   | Corporate, Other  |   |       |                |   |
|--------------------------------------|--------|----------------------------------|------------|--------|-------------------|--------|------------|---------------------|--------|
|                                 |   |                             |       |   | and Intercompany  |   |       |                |   |
|                                 |   | First Bank                       |       |   | Reclassifications |   |       | Consolidated Totals |   |
|                                 |   | June 30,                         |       |   | December 31,      |   |       | June 30,            |   |   | December 31, |   |   | June 30, |   |   | December 31, |   |
|                                 |   | 2009                             |       |   | 2008              |   |       | 2009                |   |   | 2008 |   |   | 2009 |   |   | 2008 |   |
|                                 |   | (dollars expressed in thousands) |       |
|                                 |   |                             |       |   |              |   |       |                |   |   |   |   |   |   |   |   |   |   |
| Balance sheet information:           |   |                             |       |   |              |   |       |                |   |   |   |   |   |   |   |   |   |   |
|                                 |   |                             |       |   |              |   |       |                |   |   |   |   |   |   |   |   |   |   |
| Investment securities                |   | $                                | 677,331    |   |              |   | 607,443    |                |   |   | 14,007 |   |   |   | 15,483 |   |   |   | 691,338 |   |   |   | 622,926 |   |
| Loans, net of unearned discount      |   |                             | 8,197,048  |   |              |   | 8,592,975  |                |   |   | — |   |   |   | — |   |   |   | 8,197,048 |   |   |   | 8,592,975 |   |
| Goodwill and other intangible assets |   |                             | 305,073    |   |              |   | 306,800    |                |   |   | — |   |   |   | — |   |   |   | 305,073 |   |   |   | 306,800 |   |
| Total assets                         |   |                             | 10,377,824 |   |              |   | 10,756,737 |                |   |   | 17,841 |   |   |   | 26,417 |   |   |   | 10,395,665 |   |   |   | 10,783,154 |   |
| Deposits                             |   |                             | 8,759,060  |   |              |   | 8,843,901  |                |   |   | (49,715 | ) |   |   | (102,381 | ) |   |   | 8,709,345 |   |   |   | 8,741,520 |   |
| Other borrowings                     |   |                             | 439,758    |   |              |   | 575,133    |                |   |   | — |   |   |   | — |   |   |   | 439,758 |   |   |   | 575,133 |   |
| Subordinated debentures              |   |                             | —    |   |              |   | —    |                |   |   | 353,866 |   |   |   | 353,828 |   |   |   | 353,866 |   |   |   | 353,828 |   |
| Total stockholders’ equity     |   |                             | 1,094,428  |   |              |   | 1,240,940  |                |   |   | (299,726 | ) |   |   | (244,585 | ) |   |   | 794,702 |   |   |   | 996,355 |   |

|                                                                      |   | First Bank                       |    |   | Corporate, Otherand IntercompanyReclassifications |   |    | Consolidated Totals |   |
|---------------------------------------------------------------------------|--------|----------------------------------|---------|--------|---------------------------------------------------|--------|---------|---------------------|--------|
|                                                                      |   | Three Months Ended               |    |   | Three Months Ended                                |   |    | Three Months Ended  |   |
|                                                                      |   | June 30,                         |    |   | June 30,                                          |   |    | June 30,            |   |
|                                                                      |   | 2009                             |    |   | 2008                                              |   |    | 2009                |   |   | 2008 |   |   | 2009 |   |   | 2008 |   |
|                                                                      |   | (dollars expressed in thousands) |    |
|                                                                      |   |                             |    |   |                                              |   |    |                |   |   |   |   |   |   |   |   |   |   |
| Income statement information:                                             |   |                             |    |   |                                              |   |    |                |   |   |   |   |   |   |   |   |   |   |
|                                                                      |   |                             |    |   |                                              |   |    |                |   |   |   |   |   |   |   |   |   |   |
| Interest income                                                           |   | $                                | 117,127 |   |                                              |   | 147,531 |                |   |   | 135 |   |   |   | 222 |   |   |   | 117,262 |   |   |   | 147,753 |   |
| Interest expense                                                          |   |                             | 37,850  |   |                                              |   | 55,353  |                |   |   | 4,240 |   |   |   | 5,617 |   |   |   | 42,090 |   |   |   | 60,970 |   |
| Net interest income                                                       |   |                             | 79,277  |   |                                              |   | 92,178  |                |   |   | (4,105 | ) |   |   | (5,395 | ) |   |   | 75,172 |   |   |   | 86,783 |   |
| Provision for loan losses                                                 |   |                             | 112,000 |   |                                              |   | 84,053  |                |   |   | — |   |   |   | — |   |   |   | 112,000 |   |   |   | 84,053 |   |
| Net interest (loss) income after provision for loan losses                |   |                             | (32,723 | )      |                                              |   | 8,125   |                |   |   | (4,105 | ) |   |   | (5,395 | ) |   |   | (36,828 | ) |   |   | 2,730 |   |
| Noninterest income                                                        |   |                             | 27,160  |   |                                              |   | 25,435  |                |   |   | 2 |   |   |   | (6,544 | ) |   |   | 27,162 |   |   |   | 18,891 |   |
| Amortization of intangible assets                                         |   |                             | 2,328   |   |                                              |   | 2,785   |                |   |   | — |   |   |   | — |   |   |   | 2,328 |   |   |   | 2,785 |   |
| Other noninterest expense                                                 |   |                             | 81,087  |   |                                              |   | 79,840  |                |   |   | 99 |   |   |   | 2,017 |   |   |   | 81,186 |   |   |   | 81,857 |   |
| Loss before provision (benefit) for income taxes                          |   |                             | (88,978 | )      |                                              |   | (49,065 | )                   |   |   | (4,202 | ) |   |   | (13,956 | ) |   |   | (93,180 | ) |   |   | (63,021 | ) |
| Provision (benefit) for income taxes                                      |   |                             | 2,639   |   |                                              |   | (18,239 | )                   |   |   | 333 |   |   |   | (4,898 | ) |   |   | 2,972 |   |   |   | (23,137 | ) |
| Net loss                                                                  |   |                             | (91,617 | )      |                                              |   | (30,826 | )                   |   |   | (4,535 | ) |   |   | (9,058 | ) |   |   | (96,152 | ) |   |   | (39,884 | ) |
| Net (loss) income attributable to noncontrolling interest in subsidiaries |   |                             | (2,833  | )      |                                              |   | 33      |                |   |   | — |   |   |   | — |   |   |   | (2,833 | ) |   |   | 33 |   |
| Net loss attributable to First Banks,  Inc.                     |   | $                                | (88,784 | )      |                                              |   | (30,859 | )                   |   |   | (4,535 | ) |   |   | (9,058 | ) |   |   | (93,319 | ) |   |   | (39,917 | ) |

|                                                                      |   | First Bank                       |     |   | Corporate, Otherand IntercompanyReclassifications |   |    | Consolidated Totals |   |
|---------------------------------------------------------------------------|--------|----------------------------------|----------|--------|---------------------------------------------------|--------|---------|---------------------|--------|
|                                                                      |   | Six Months Ended                 |     |   | Six Months Ended                                  |   |    | Six Months Ended    |   |
|                                                                      |   | June 30,                         |     |   | June 30,                                          |   |    | June 30,            |   |
|                                                                      |   | 2009                             |     |   | 2008                                              |   |    | 2009                |   |   | 2008 |   |   | 2009 |   |   | 2008 |   |
|                                                                      |   | (dollars expressed in thousands) |     |
|                                                                      |   |                             |     |   |                                              |   |    |                |   |   |   |   |   |   |   |   |   |   |
| Income statement information:                                             |   |                             |     |   |                                              |   |    |                |   |   |   |   |   |   |   |   |   |   |
|                                                                      |   |                             |     |   |                                              |   |    |                |   |   |   |   |   |   |   |   |   |   |
| Interest income                                                           |   | $                                | 236,543  |   |                                              |   | 311,579 |                |   |   | 258 |   |   |   | 478 |   |   |   | 236,801 |   |   |   | 312,057 |   |
| Interest expense                                                          |   |                             | 81,527   |   |                                              |   | 123,413 |                |   |   | 8,666 |   |   |   | 12,334 |   |   |   | 90,193 |   |   |   | 135,747 |   |
| Net interest income                                                       |   |                             | 155,016  |   |                                              |   | 188,166 |                |   |   | (8,408 | ) |   |   | (11,856 | ) |   |   | 146,608 |   |   |   | 176,310 |   |
| Provision for loan losses                                                 |   |                             | 220,000  |   |                                              |   | 130,000 |                |   |   | — |   |   |   | — |   |   |   | 220,000 |   |   |   | 130,000 |   |
| Net interest (loss) income after provision for loan losses                |   |                             | (64,984  | )      |                                              |   | 58,166  |                |   |   | (8,408 | ) |   |   | (11,856 | ) |   |   | (73,392 | ) |   |   | 46,310 |   |
| Noninterest income                                                        |   |                             | 52,658   |   |                                              |   | 58,732  |                |   |   | 4 |   |   |   | (6,730 | ) |   |   | 52,662 |   |   |   | 52,002 |   |
| Amortization of intangible assets                                         |   |                             | 4,666    |   |                                              |   | 5,561   |                |   |   | — |   |   |   | — |   |   |   | 4,666 |   |   |   | 5,561 |   |
| Other noninterest expense                                                 |   |                             | 160,158  |   |                                              |   | 158,331 |                |   |   | (460 | ) |   |   | 4,174 |   |   |   | 159,698 |   |   |   | 162,505 |   |
| Loss before provision (benefit) for income taxes                          |   |                             | (177,150 | )      |                                              |   | (46,994 | )                   |   |   | (7,944 | ) |   |   | (22,760 | ) |   |   | (185,094 | ) |   |   | (69,754 | ) |
| Provision (benefit) for income taxes                                      |   |                             | 2,172    |   |                                              |   | (17,152 | )                   |   |   | 286 |   |   |   | (7,990 | ) |   |   | 2,458 |   |   |   | (25,142 | ) |
| Net loss                                                                  |   |                             | (179,322 | )      |                                              |   | (29,842 | )                   |   |   | (8,230 | ) |   |   | (14,770 | ) |   |   | (187,552 | ) |   |   | (44,612 | ) |
| Net (loss) income attributable to noncontrolling interest in subsidiaries |   |                             | (4,827   | )      |                                              |   | 178     |                |   |   | — |   |   |   | — |   |   |   | (4,827 | ) |   |   | 178 |   |
| Net loss attributable to First Banks, Inc.                                |   | $                                | (174,495 | )      |                                              |   | (30,020 | )                   |   |   | (8,230 | ) |   |   | (14,770 | ) |   |   | (182,725 | ) |   |   | (44,790 | ) |

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| (9) | Other Borrowings and Notes Payable |
|-----|------------------------------------|

|                                            |   | June 30,                         |    |   | December 31, |   |
|-------------------------------------------------|--------|----------------------------------|---------|--------|--------------|--------|
|                                            |   | 2009                             |    |   | 2008         |   |
|                                            |   | (dollars expressed in thousands) |    |
| Securities sold under agreements to repurchase: |   |                             |    |   |         |   |
| Daily                                           |   | $                                | 119,082 |   |         |   | 154,423 |   |
| Term                                            |   |                             | 120,000 |   |         |   | 120,000 |   |
| FRB borrowings (1)                              |   |                             | — |   |         |   | 100,000 |   |
| FHLB advances (2)                               |   |                             | 200,676 |   |         |   | 200,710 |   |
| Total                                           |   | $                                | 439,758 |   |         |   | 575,133 |   |

|   | ________________________ |
|--------|--------------------------|
|   | (1)                      | In November 2008, First Bank entered into a $100.0 million borrowing with the FRB upon termination of a $100.0 million FHLB advance, and subsequently renewed the borrowing at maturity in December 2008 at a fixed interest rate of 0.42%. First Bank repaid this borrowing upon maturity in February 2009. |
|   | (2)                      | In January 2008, First Bank entered into a $100.0 million Federal Home Loan Bank (FHLB) advance that was scheduled to mature in July 2009 at a fixed interest rate of 2.53%. In March 2009, First Bank prepaid this $100.0 million FHLB advance and incurred a prepayment penalty of $357,000. The prepayment penalty was recorded as interest expenseon other borrowings in the consolidated statements of operations. In July 2008, First Bank entered into a $100.0 million FHLB advance at a fixed interest rate of 2.92%. First Bank repaid this advance upon maturity in February 2009. In April 2009, First Bank entered into two $100.0 million FHLB advances that mature in April 2010 and April 2011 at fixed interest rates of 1.69% and 1.77%, respectively. |

|               |    |               | Interest | Interest Rate Floor |
|--------------------|---------|--------------------|----------|---------------------|
| Maturity Date      |    | Par Amount         | Rate     | Strike Price        |
|               |    | (dollars expressed |     |                |
|               |    | in thousands)      |     |                |
|               |    |               |     |                |
| April 12, 2012 (1) | $  |   120,000     | 3.36%    | —             |

|   | ________________________ |
|--------|--------------------------|
|   | (1)                      | On March 31, 2008, First Bank restructured its $100.0 million term repurchase agreement. The primary modifications were to:  (a) increase the borrowing amount to $120.0 million; (b) extend the maturity date from October 12, 2010 to April 12, 2012; (c) convert the interest rate from a variable rate to a fixed rate of 3.36%, withinterest to be paid quarterly beginning on April 12, 2008; and (d) terminate the embedded interest rate floor agreements contained within the term repurchase agreement. These modifications resulted in a pre-tax gain of $5.0 million, which was recorded as noninterest income in the consolidated statements of operations. |

| (10) | Subordinated Debentures |
|------|-------------------------|

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|                                  |           |               |               |   |     |    |    | Trust      |   |   |         |   |
|---------------------------------------|----------------|--------------------|--------------------|--------|----------|---------|---------|------------|--------|--------|--------------|--------|
|                                  |           | Maturity           | Call               |   | Interest |    |    | Preferred  |   |   | Subordinated |   |
| Name of Trust                         | Issuance Date  | Date               | Date (1)      |   | Rate(2)  |    |    | Securities |   |   | Debentures   |   |
|                                  |           |               |               |   |     |    |    |       |   |   |         |   |
| Variable Rate                         |           |               |               |   |     |    |    |       |   |   |         |   |
| First Bank Statutory Trust II         | September 2004 | September 20, 2034 | September 20, 2009 |   |     | + 205.0 | bp      |       | $      | 20,000 |         |   | $ | 20,619 |   |
| Royal Oaks Capital Trust I            | October 2004   | January 7, 2035    | January 7, 2010    |   |     | + 240.0 | bp      |       |   | 4,000  |         |   |   | 4,124 |   |
| First Bank Statutory Trust III        | November 2004  | December 15, 2034  | December 15, 2009  |   |     | + 218.0 | bp      |       |   | 40,000 |         |   |   | 41,238 |   |
| First Bank Statutory Trust IV         | March 2006     | March 15, 2036     | March 15, 2011     |   |     | + 142.0 | bp      |       |   | 40,000 |         |   |   | 41,238 |   |
| First Bank Statutory Trust V          | April 2006     | June 15, 2036      | June 15, 2011      |   |     | + 145.0 | bp      |       |   | 20,000 |         |   |   | 20,619 |   |
| First Bank Statutory Trust VI         | June 2006      | July 7, 2036       | July 7, 2011       |   |     | + 165.0 | bp (3a) |       |   | 25,000 |         |   |   | 25,774 |   |
| First Bank Statutory Trust VII   | December 2006  | December 15, 2036  | December 15, 2011  |   |     | + 185.0 | bp (3b) |       |   | 50,000 |         |   |   | 51,547 |   |
| First Bank Statutory Trust VIII  | February 2007  | March 30, 2037     | March 30, 2012     |   |     | + 161.0 | bp (3c) |       |   | 25,000 |         |   |   | 25,774 |   |
| First Bank Statutory Trust X          | August 2007    | September 15, 2037 | September 15, 2012 |   |     | + 230.0 | bp      |       |   | 15,000 |         |   |   | 15,464 |   |
| First Bank Statutory Trust IX    | September 2007 | December 15, 2037  | December 15, 2012  |   |     | + 225.0 | bp (3d) |       |   | 25,000 |         |   |   | 25,774 |   |
| First Bank Statutory Trust XI         | September 2007 | December 15, 2037  | December 15, 2012  |   |     | + 285.0 | bp      |       |   | 10,000 |         |   |   | 10,310 |   |
|                                  |           |               |               |   |     |    |    |       |   |   |         |   |   |   |   |
| Fixed Rate                            |           |               |               |   |     |    |    |       |   |   |         |   |   |   |   |
| First Bank Statutory Trust            | March 2003     | March 20, 2033     | March 20, 2008     |   |     | 8.10    | %       |       |   | 25,000 |         |   |   | 25,774 |   |
| First Preferred Capital Trust IV      | April 2003     | June 30, 2033      | June 30, 2008      |   |     | 8.15    | %       |       |   | 46,000 |         |   |   | 47,423 |   |

| (1) | The subordinated debentures are callable at the option of First Banks on the call date shown at 100% of the principal amount plus accrued and unpaid interest. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | The interest rates paid on the trust preferred securities are based on either a variable rate or a fixed rate. The variable rate for the outstanding subordinated debentures is based on the three-month LIBOR plus the basis point spread shown. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | In March 2008, First Banks executed four interest rate swap agreements, which have been designated as cash flow hedges, to effectively convert the interest payments on these subordinated debentures from variable rate to fixed rate to the respective call dates as follows: |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | $25.0 million notional amount with a maturity date of July 7, 2011 that converts the interest rate from a variable rate of LIBOR plus 165 basis points to a fixed rate of 4.40%; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | $50.0 million notional amount with a maturity date of December 15, 2011 that converts the interest rate from a variable rate of LIBOR plus 185 basis points to a fixed rate of 4.905%; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | $25.0 million notional amount with a maturity date of March 30, 2012 that converts the interest rate from a variable rate of LIBOR plus 161 basis points to a fixed rate of 4.71%; and |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | $25.0 million notional amount with a maturity date of December 15, 2012 that converts the interest rate from a variable rate of LIBOR plus 225 basis points to a fixed rate of 5.565%. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (11)  | Stockholders’ Equity |
|------------|----------------------------|

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|                                                                                                                     |   | Three Months Ended               |     |    | Six Months Ended |   |
|--------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------|----------|---------|------------------|--------|
|                                                                                                                     |   | June 30,                         |     |    | June 30,         |   |
|                                                                                                                     |   | 2009                             |     |    | 2008             |   |   | 2009 |   |   | 2008 |   |
|                                                                                                                     |   | (dollars expressed in thousands) |     |
|                                                                                                                     |   |                             |     |    |             |   |   |   |   |   |   |   |
| Net loss                                                                                                                 |   | $                                | (96,152  | )       |             |   | (39,884 | ) |   |   | (187,552 | ) |   |   | (44,612 | ) |
| Other comprehensive income (loss):                                                                                       |   |                             |     |    |             |   |   |   |   |   |   |   |   |   |   |   |
| Unrealized (losses) gains on available-for-sale investment securities, net of tax                                        |   |                             | (2,227   | )       |             |   | (14,622 | ) |   |   | 1,386 |   |   |   | (1,572 | ) |
| Reclassification adjustment for available-for-sale investment securities (gains) losses included in net loss, net of tax |   |                             | (424     | )       |             |   | 3,759 |   |   |   | (770 | ) |   |   | 3,005 |   |
| Reclassification adjustment for deferred tax asset valuation allowance on investment securities                          |   |                             | 589      |    |             |   | — |   |   |   | 332 |   |   |   | — |   |
| Change in unrealized gains on derivative instruments, net of tax                                                         |   |                             | (1,676   | )       |             |   | (2,119 | ) |   |   | (4,516 | ) |   |   | 3,201 |   |
| Reclassification adjustment for deferred tax asset valuation allowance on derivative instruments                         |   |                             | (2,280   | )  |             |   | —  |   |   |   | (2,431 | )  |   |   | —  |   |
| Amortization of net loss related to pension liability, net of tax                                                        |   |                             | 33       |    |             |   | — |   |   |   | 69 |   |   |   | — |   |
| Reclassification adjustment for deferred tax asset valuation allowance on pension liability                              |   |                             | 51       |    |             |   | — |   |   |   | 51 |   |   |   | — |   |
| Comprehensive loss                                                                                                       |   |                             | (102,086 | )       |             |   | (52,866 | ) |   |   | (193,431 | ) |   |   | (39,978 | ) |
| Comprehensive (loss) income attributable to noncontrolling interest in subsidiaries                                      |   |                             | (2,833   | )       |             |   | 33 |   |   |   | (4,827 | ) |   |   | 178 |   |
| Comprehensive loss attributable to First Banks, Inc.                                                                     |   | $                                | (99,253  | )       |             |   | (52,899 | ) |   |   | (188,604 | ) |   |   | (40,156 | ) |

| (12) | Income Taxes |
|------|--------------|

|                                            |   | June 30,                         |     |   | December 31, |   |
|-------------------------------------------------|--------|----------------------------------|----------|--------|--------------|--------|
|                                            |   | 2009                             |     |   | 2008         |   |
|                                            |   | (dollars expressed in thousands) |     |
|                                            |   |                             |     |   |         |   |
| Gross deferred tax assets                       |   | $                                | 258,692  |   |         |   | 196,903 |   |
| Valuation allowance                             |   |                             | (237,791 | )      |         |   | (160,052 | ) |
| Deferred tax assets, net of valuation allowance |   |                             | 20,901   |   |         |   | 36,851 |   |
| Deferred tax liabilities                        |   |                             | 29,615   |   |         |   | 45,565 |   |
| Net deferred tax liabilities                    |   | $                                | (8,714   | )      |         |   | (8,714 | ) |

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| (13)  | Fair Value Disclosures |
|------------|------------------------|

| Level 1 Inputs – | Valuation is based on quoted prices in active markets for identical instruments in active markets. |
|------------------------|----------------------------------------------------------------------------------------------------|

| Level 2 Inputs – | Valuation is based on quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. |
|------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Level 3 Inputs – | Valuation is generated from model-based techniques that use at least one significant assumption not observable in the market.  These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques. |
|------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                                      |   | Fair Value Measurements          |    |
|-------------------------------------------|--------|----------------------------------|---------|
|                                      |   | June 30, 2009                    |    |
|                                      |   |                             |    |
|                                      |   | Level 1                          |    |   | Level 2 |   |   | Level 3 |   |   | Fair Value |   |
|                                      |   | (dollars expressed in thousands) |    |
| Assets:                                   |   |                             |    |   |   |   |   |   |   |   |   |   |
| Available-for-sale investment securities: |   |                             |    |   |   |   |   |   |   |   |   |   |
| U.S. Government sponsored agencies        |   | $                                | — |   |   |   | 33,773 |   |   |   | — |   |   |   | 33,773 |   |
| Mortgage-backed securities                |   |                             | — |   |   |   | 558,288 |   |   |   | — |   |   |   | 558,288 |   |
| State and political subdivisions          |   |                             | — |   |   |   | 17,817 |   |   |   | — |   |   |   | 17,817 |   |
| Equity investments                        |   |                             | 4,850   |   |   |   | 10,678 |   |   |   | — |   |   |   | 15,528 |   |
| FHLB and Federal Reserve Bank stock       |   |                             | — |   |   |   | 50,882 |   |   |   | — |   |   |   | 50,882 |   |
| Mortgage loans held for sale              |   |                             | — |   |   |   | 71,359 |   |   |   | — |   |   |   | 71,359 |   |
| Derivative instruments                    |   |                             | — |   |   |   | 1,342 |   |   |   | — |   |   |   | 1,342 |   |
| Servicing rights                          |   |                             | — |   |   |   | — |   |   |   | 18,809 |   |   |   | 18,809 |   |
| Total                                     |   | $                                | 4,850   |   |   |   | 744,139 |   |   |   | 18,809 |   |   |   | 767,798 |   |
| Liabilities:                              |   |                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Derivative instruments                    |   | $                                | — |   |   |   | 4,193 |   |   |   | — |   |   |   | 4,193 |   |
| Nonqualified deferred compensation plan   |   |                             | 7,952   |   |   |   | — |   |   |   | — |   |   |   | 7,952 |   |
| Total                                     |   | $                                | 7,952   |   |   |   | 4,193 |   |   |   | — |   |   |   | 12,145 |   |

|                                      |   | Fair Value Measurements          |    |
|-------------------------------------------|--------|----------------------------------|---------|
|                                      |   | December 31, 2008                |    |
|                                      |   |                             |    |   |   |   |   |   |   |   |   |   |
|                                      |   | Level 1                          |    |   | Level 2 |   |   | Level 3 |   |   | Fair Value |   |
|                                      |   | (dollars expressed in thousands) |    |
| Assets:                                   |   |                             |    |   |   |   |   |   |   |   |   |   |
| Available-for-sale investment securities: |   |                             |    |   |   |   |   |   |   |   |   |   |
| U.S. Government sponsored agencies        |   | $                                | — |   |   |   | 1,846 |   |   |   | — |   |   |   | 1,846 |   |
| Mortgage-backed securities                |   |                             | — |   |   |   | 517,131 |   |   |   | — |   |   |   | 517,131 |   |
| State and political subdivisions          |   |                             | — |   |   |   | 21,209 |   |   |   | — |   |   |   | 21,209 |   |
| Equity investments                        |   |                             | 6,318   |   |   |   | 10,678 |   |   |   | — |   |   |   | 16,996 |   |
| FHLB and Federal Reserve Bank stock       |   |                             | — |   |   |   | 47,832 |   |   |   | — |   |   |   | 47,832 |   |
| Mortgage loans held for sale              |   |                             | — |   |   |   | 18,483 |   |   |   | — |   |   |   | 18,483 |   |
| Derivative instruments                    |   |                             | — |   |   |   | 583 |   |   |   | — |   |   |   | 583 |   |
| Servicing rights                          |   |                             | — |   |   |   | — |   |   |   | 16,381 |   |   |   | 16,381 |   |
| Total                                     |   | $                                | 6,318   |   |   |   | 617,762 |   |   |   | 16,381 |   |   |   | 640,461 |   |
| Liabilities:                              |   |                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Derivative instruments                    |   | $                                | — |   |   |   | 4,953 |   |   |   | — |   |   |   | 4,953 |   |
| Nonqualified deferred compensation plan   |   |                             | 7,676   |   |   |   | — |   |   |   | — |   |   |   | 7,676 |   |
| Total                                     |   | $                                | 7,676   |   |   |   | 4,953 |   |   |   | — |   |   |   | 12,629 |   |

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Table of Contents

|                                                                            |   | Servicing Rights                 |    |
|---------------------------------------------------------------------------------|--------|----------------------------------|---------|
|                                                                            |   | Three Months Ended               |    |   | Six Months Ended |   |
|                                                                            |   | June 30,                         |    |   | June 30, |   |
|                                                                            |   | 2009                             |    |   | 2008 |   |   | 2009 |   |   | 2008 |   |
|                                                                            |   | (dollars expressed in thousands) |    |
|                                                                            |   |                             |    |   |   |   |   |   |   |   |   |   |
| Balance, beginning of period                                                    |   | $                                | 15,746  |   |   |   | 23,479 |   |   |   | 16,381 |   |   |   | 12,758 |   |
| Impact of election to measure servicing rights at fair value under SFAS No. 156 |   |                             | — |   |   |   | — |   |   |   | — |   |   |   | 10,443 |   |
| Total gains or losses (realized/unrealized):                                    |   |                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Included in earnings (1)                                                        |   |                             | 283     |   |   |   | 555 |   |   |   | (1,702 | ) |   |   | (1,204 | ) |
| Included in other comprehensive income                                          |   |                             | — |   |   |   | — |   |   |   | — |   |   |   | — |   |
| Purchases, issuances and settlements                                            |   |                             | 2,780   |   |   |   | 1,689 |   |   |   | 4,130 |   |   |   | 3,726 |   |
| Transfers in and/or out of level 3                                              |   |                             | — |   |   |   | — |   |   |   | — |   |   |   | — |   |
| Balance, end of period                                                          |   | $                                | 18,809  |   |   |   | 25,723 |   |   |   | 18,809 |   |   |   | 25,723 |   |

|   | _________________ |
|--------|-------------------|
|   | (1)               | Gains or losses (realized/unrealized) are included in noninterest income in the consolidated statements of operations. |

|                |   | Fair Value Measurements          |    |
|---------------------|--------|----------------------------------|---------|
|                |   | June 30, 2009                    |    |
|                |   |                             |    |   |   |   |   |   |   |   |   |   |
|                |   | Level 1                          |    |   | Level 2 |   |   | Level 3 |   |   | Fair Value |   |
|                |   | (dollars expressed in thousands) |    |
| Assets:             |   |                             |    |   |   |   |   |   |   |   |   |   |
| Loans held for sale |   | $                                | — |   |   |   | 17,464 |   |   |   | — |   |   |   | 17,464 |   |
| Impaired loans      |   |                             | — |   |   |   | — |   |   |   | 404,402 |   |   |   | 404,402 |   |
| Total               |   | $                                | — |   |   |   | 17,464 |   |   |   | 404,402 |   |   |   | 421,866 |   |

|                |   | Fair Value Measurements          |    |
|---------------------|--------|----------------------------------|---------|
|                |   | December 31, 2008                |    |
|                |   |                             |    |   |   |   |   |   |   |   |   |   |
|                |   | Level 1                          |    |   | Level 2 |   |   | Level 3 |   |   | Fair Value |   |
|                |   | (dollars expressed in thousands) |    |
| Assets:             |   |                             |    |   |   |   |   |   |   |   |   |   |
| Loans held for sale |   | $                                | — |   |   |   | 20,237 |   |   |   | — |   |   |   | 20,237 |   |
| Impaired loans      |   |                             | — |   |   |   | — |   |   |   | 382,105 |   |   |   | 382,105 |   |
| Total               |   | $                                | — |   |   |   | 20,237 |   |   |   | 382,105 |   |   |   | 402,342 |   |

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|                                                                             |   | June 30, 2009                    |      |   | December 31, 2008   |   |
|----------------------------------------------------------------------------------|--------|----------------------------------|-----------|--------|---------------------|--------|
|                                                                             |   | CarryingValue                    |      |   | EstimatedFair Value |   |   | CarryingValue |   |   | EstimatedFair Value |   |
|                                                                             |   | (dollars expressed in thousands) |      |
| Financial Assets:                                                                |   |                             |      |   |                |   |   |   |   |   |   |   |
| Cash and cash equivalents                                                        |   | $                                | 873,479   |   |                |   | 873,479 |   |   |   | 842,316 |   |   |   | 842,316 |   |
| Investment securities:                                                           |   |                             |      |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Available for sale                                                               |   |                             | 676,288   |   |                |   | 676,288 |   |   |   | 605,014 |   |   |   | 605,014 |   |
| Held to maturity                                                                 |   |                             | 15,050    |   |                |   | 15,767 |   |   |   | 17,912 |   |   |   | 18,507 |   |
| Loans held for portfolio                                                         |   |                             | 7,820,908 |   |                |   | 7,202,644 |   |   |   | 8,334,041 |   |   |   | 7,683,098 |   |
| Loans held for sale                                                              |   |                             | 88,823    |   |                |   | 88,823 |   |   |   | 38,720 |   |   |   | 38,720 |   |
| Derivative instruments                                                           |   |                             | 1,342     |   |                |   | 1,342 |   |   |   | 583 |   |   |   | 583 |   |
| Bank-owned life insurance                                                        |   |                             | 26,207    |   |                |   | 26,207 |   |   |   | 118,825 |   |   |   | 118,825 |   |
| Accrued interest receivable                                                      |   |                             | 32,511    |   |                |   | 32,511 |   |   |   | 35,773 |   |   |   | 35,773 |   |
|                                                                             |   |                             |      |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Financial Liabilities:                                                           |   |                             |      |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Deposits:                                                                        |   |                             |      |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Noninterest-bearing demand                                                       |   | $                                | 1,337,821 |   |                |   | 1,337,821 |   |   |   | 1,241,916 |   |   |   | 1,241,916 |   |
| Interest-bearing demand                                                          |   |                             | 929,224   |   |                |   | 929,224 |   |   |   | 935,805 |   |   |   | 935,805 |   |
| Savings and money market                                                         |   |                             | 2,893,479 |   |                |   | 2,893,479 |   |   |   | 2,777,285 |   |   |   | 2,777,285 |   |
| Time deposits                                                                    |   |                             | 3,548,821 |   |                |   | 3,586,097 |   |   |   | 3,786,514 |   |   |   | 3,832,495 |   |
| Other borrowings                                                                 |   |                             | 439,758   |   |                |   | 445,820 |   |   |   | 575,133 |   |   |   | 576,021 |   |
| Derivative instruments                                                           |   |                             | 4,193     |   |                |   | 4,193 |   |   |   | 4,953 |   |   |   | 4,953 |   |
| Accrued interest payable                                                         |   |                             | 9,293     |   |                |   | 9,293 |   |   |   | 12,561 |   |   |   | 12,561 |   |
| Subordinated debentures                                                          |   |                             | 353,866   |   |                |   | 269,946 |   |   |   | 353,828 |   |   |   | 269,946 |   |
|                                                                             |   |                             |      |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Off-Balance Sheet Financial Instruments:                                         |   |                             |      |   |                |   |   |   |   |   |   |   |   |   |   |   |
| Commitments to extend credit, standby letters of credit and financial guarantees |   | $                                | (453      | )      |                |   | (453 | ) |   |   | (419 | ) |   |   | (419 | ) |

| (14) | Derivative Financial Instruments |
|------|----------------------------------|

|                                                   |   | June 30, 2009                    |    |   | December 31, 2008 |   |
|--------------------------------------------------------|--------|----------------------------------|---------|--------|-------------------|--------|
|                                                   |   | Notional                         |    |   | Credit            |   |   | Notional |   |   | Credit |   |
|                                                   |   | Amount                           |    |   | Exposure          |   |   | Amount |   |   | Exposure |   |
|                                                   |   | (dollars expressed in thousands) |    |
|                                                   |   |                             |    |   |              |   |   |   |   |   |   |   |
| Cash flow hedges – subordinated debentures       |   | $                                | 125,000 |   |              |   | — |   |   |   | 125,000 |   |   |   | — |   |
| Customer interest rate swap agreements                 |   |                             | 59,696  |   |              |   | 318 |   |   |   | 16,000 |   |   |   | 85 |   |
| Interest rate lock commitments                         |   |                             | 44,000  |   |              |   | 584 |   |   |   | 48,700 |   |   |   | 831 |   |
| Forward commitments to sell mortgage-backed securities |   |                             | 99,900  |   |              |   | 511 |   |   |   | 40,300 |   |   |   | — |   |

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|               |   | Notional                         |    |   | Interest Rate |   |   | Interest Rate |   |   | Fair   |   |
|--------------------|--------|----------------------------------|---------|--------|---------------|--------|--------|---------------|--------|--------|--------|--------|
| Maturity Date      |   | Amount                           |    |   | Paid          |   |   | Received      |   |   | Value  |   |
|               |   | (dollars expressed in thousands) |    |
|               |   |                             |    |   |          |   |   |          |   |   |   |   |
| June 30, 2009:     |   |                             |    |   |          |   |   |          |   |   |   |   |
| July 7, 2011       |   | $                                | 25,000  |   |          |   | 4.40   | %             |   |   | 2.78   | %      |   | $ | (702 | ) |
| December 15, 2011  |   |                             | 50,000  |   |          |   | 4.91   |          |   |   | 2.48   |   |   |   | (1,596 | ) |
| March 30, 2012     |   |                             | 25,000  |   |          |   | 4.71   |          |   |   | 2.21   |   |   |   | (783 | ) |
| December 15, 2012  |   |                             | 25,000  |   |          |   | 5.57   |          |   |   | 2.88   |   |   |   | (865 | ) |
|               |   | $                                | 125,000 |   |          |   | 4.90   |          |   |   | 2.57   |   |   | $ | (3,946 | ) |
| December 31, 2008: |   |                             |    |   |          |   |   |          |   |   |   |   |   |   |   |   |
| July 7, 2011       |   | $                                | 25,000  |   |          |   | 4.40   | %             |   |   | 6.40   | %      |   | $ | (575 | ) |
| December 15, 2011  |   |                             | 50,000  |   |          |   | 4.91   |          |   |   | 3.85   |   |   |   | (1,945 | ) |
| March 30, 2012     |   |                             | 25,000  |   |          |   | 4.71   |          |   |   | 3.08   |   |   |   | (1,048 | ) |
| December 15, 2012  |   |                             | 25,000  |   |          |   | 5.57   |          |   |   | 4.25   |   |   |   | (1,308 | ) |
|               |   | $                                | 125,000 |   |          |   | 4.90   |          |   |   | 4.29   |   |   | $ | (4,876 | ) |

| Ø   | In September 2006, First Banks entered into a $200.0 million notional amount three-year interest rate swap agreement and a $200.0 million notional amount four-year interest rate swap agreement.  The underlying hedged assets were certain variable rate loans within First Banks’ commercial loan portfolio. The swap agreements provided for FirstBanks to receive a fixed rate of interest and pay an adjustable rate of interest equivalent to the weighted average prime lending rate minus 2.86%. The terms of the swap agreements provided for First Banks to pay and receive interest on a quarterly basis. In December 2008, First Banks terminated these swap agreements. The pre-tax gain of $20.8 million, in aggregate, is being amortized as an increase to interest and fees on loans in the consolidated statements of operations over the remaining terms of the respectiveinterest rate swap agreements, which had contractual maturity dates of September 18, 2009 and September 20, 2010. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                                                                                        | June 30, 2009                    |         | December 31, 2008 |   |
|---------------------------------------------------------------------------------------------|----------------------------------|--------------|-------------------|--------|
|                                                                                        | Balance Sheet                    |         | Fair Value        |   | Balance Sheet |   | Fair Value |   |
|                                                                                        | Location                         |         | Gain (Loss)       |   | Location |   | Gain (Loss) |   |
|                                                                                        | (dollars expressed in thousands) |         |
| Derivative financial instruments designated as hedging instruments under SFAS No. 133: |                             |         |              |   |   |   |   |   |
|                                                                                        |                             |         |              |   |   |   |   |   |
| Cash flow hedges – subordinated debentures                                            | Other liabilities                |         | $                 | (3,946 | ) | Other liabilities |   |   | (4,876 | ) |
|                                                                                        |                             |         |              |   |   |   |   |   |   |   |
| Derivative financial instruments not designated as hedging instruments under SFAS No. 133:  |                             |         |              |   |   |   |   |   |   |   |
|                                                                                        |                             |         |              |   |   |   |   |   |   |   |
| Customer interest rate swap agreements                                                      | Other assets                     |         | $                 | 247    |   | Other assets |   |   | 76 |   |
| Interest rate lock commitments                                                              | Other assets                     |         |              | 584    |   | Other assets |   |   | 831 |   |
| Forward commitments to sell                                                                 |                             |         |              |   |   |   |   |   |   |   |
|                                                                                        | mortgage-backed securities       | Other assets |              |   | 511 |   | Other assets |   |   | (325 | ) |
| Total derivatives in other assets                                                           |                             |         | $                 | 1,342  |   |   |   |   | 582 |   |
|                                                                                        |                             |         |              |   |   |   |   |   |   |   |
| Customer interest rate swap agreements                                                      | Other liabilities                |         | $                 | (247   | ) | Other liabilities |   |   | (76 | ) |

|                                                                                                           |   | Three Months Ended               |    |   | Six Months Ended |   |
|----------------------------------------------------------------------------------------------------------------|--------|----------------------------------|---------|--------|------------------|--------|
|                                                                                                           |   | June 30,                         |    |   | June 30,         |   |
|                                                                                                           |   | 2009                             |    |   | 2008             |   |   | 2009 |   |   | 2008 |   |
|                                                                                                           |   | (dollars expressed in thousands) |    |
| Derivative financial instruments designated as hedging instruments under SFAS No. 133:                         |   |                             |    |   |             |   |   |   |   |   |   |   |
|                                                                                                           |   |                             |    |   |             |   |   |   |   |   |   |   |
| Cash flow hedges – loans:                                                                           |   |                             |    |   |             |   |   |   |   |   |   |   |
| Amount reclassified from accumulated other comprehensive income to interest income on loans                    |   | $                                | 3,939   |   |             |   | 2,967 |   |   |   | 7,877 |   |   |   | 4,767 |   |
| Amount of gain (loss) recognized in other comprehensive income                                                 |   |                             | — |   |             |   | (4,583 | ) |   |   | — |   |   |   | 5,805 |   |
|                                                                                                           |   |                             |    |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Cash flow hedges – subordinated debentures:                                                         |   |                             |    |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Amount reclassified from accumulated other comprehensive income to interest expense on subordinated debentures |   |                             | 591     |   |             |   | 93 |   |   |   | 1,019 |   |   |   | 107 |   |
| Amount of gain (loss) recognized in other comprehensive income                                                 |   |                             | 770     |   |             |   | 4,196 |   |   |   | (89 | ) |   |   | 3,779 |   |

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|                                                                                       |   | Three Months Ended               |    |   | Six Months Ended |   |
|--------------------------------------------------------------------------------------------|--------|----------------------------------|---------|--------|------------------|--------|
|                                                                                       |   | June 30,                         |    |   | June 30,         |   |
|                                                                                       |   | 2009                             |    |   | 2008             |   |   | 2009 |   |   | 2008 |   |
|                                                                                       |   | (dollars expressed in thousands) |    |
|                                                                                       |   |                             |    |   |             |   |   |   |   |   |   |   |
| Derivative financial instruments not designated as hedging instruments under SFAS No. 133: |   |                             |    |   |             |   |   |   |   |   |   |   |
|                                                                                       |   |                             |    |   |             |   |   |   |   |   |   |   |
| Customer interest rate swap agreements:                                                    |   |                             |    |   |             |   |   |   |   |   |   |   |
| Net (loss) gain on derivative instruments                                                  |   | $                                | — |   |             |   | — |   |   |   | 401 |   |   |   | — |   |
|                                                                                       |   |                             |    |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Interest rate floor agreements:                                                            |   |                             |    |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Net (loss) gain on derivative instruments                                                  |   |                             | — |   |             |   | (1,646 | ) |   |   | — |   |   |   | 1,786 |   |
|                                                                                       |   |                             |    |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Interest rate floor agreements embedded in Term                                            |   |                             |    |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Repurchase Agreements:                                                                     |   |                             |    |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Gain on extinguishment of term repurchase agreement                                        |   |                             | — |   |             |   | — |   |   |   | — |   |   |   | 5,000 |   |
|                                                                                       |   |                             |    |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Interest rate lock commitments:                                                            |   |                             |    |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Gain on loans sold and held for sale                                                       |   |                             | (1,331  | )      |             |   | 11 |   |   |   | (247 | ) |   |   | 139 |   |
|                                                                                       |   |                             |    |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Forward commitments to sell mortgage-backed securities:                                    |   |                             |    |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Gain on loans sold and held for sale                                                       |   |                             | 2,184   |   |             |   | 1,858 |   |   |   | 836 |   |   |   | 691 |   |

| (15) | Contingent Liabilities |
|------|------------------------|

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| (16)  | Subsequent Events |
|------------|-------------------|

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Item 

| Ø   | The threat of future terrorist activities, existing and potential wars and/or military actions related thereto, and domestic responses to terrorism or threats of terrorism; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | The effects of and changes in trade and monetary and fiscal policies and laws, including, but not limited to, the interest rate policies of the Federal Open Market Committee of the Federal Reserve Board of Governors, the Federal Deposit Insurance Corporation's Temporary Liquidity Guarantee Program and the U.S. Treasury's Capital Purchase Program and TroubledAsset Repurchase Program authorized by the Emergency Economic Stabilization Act of 2008; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | The current stresses in the financial and residential real estate markets, including possible continued deterioration in property values; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | Possible changes in interest rates may increase funding costs and reduce earning asset yields, thus reducing margins; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------|

| Ø   | Possible changes in general economic and business conditions in the United States in general and particularly in the communities and market segments we serve; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | Volatility and disruption in national and international financial markets; |
|--------------------|----------------------------------------------------------------------------|

| Ø   | Government intervention in the U.S. financial system; |
|--------------------|-------------------------------------------------------|

| Ø   | Changes in consumer spending, borrowings and savings habits; |
|--------------------|--------------------------------------------------------------|

| Ø   | The impact of laws and regulations applicable to us and changes therein; |
|--------------------|--------------------------------------------------------------------------|

| Ø   | The impact of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board, and other accounting standard setters; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | The impact of litigation generally and specifically arising out of our efforts to collect outstanding customer loans; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------|

| Ø   | Competitive conditions in the markets in which we conduct our operations, including competition from banking and non-banking companies with substantially greater resources than us, some of which may offer and develop products and services not offered by us; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | Our ability to control the composition of our loan portfolio without adversely affecting interest income; |
|--------------------|-----------------------------------------------------------------------------------------------------------|

| Ø   | Possible changes in the creditworthiness of customers and the possible impairment of collectability of loans; |
|--------------------|---------------------------------------------------------------------------------------------------------------|

| Ø   | The geographic dispersion of our offices; |
|--------------------|-------------------------------------------|

| Ø   | The impact our hedging activities may have on our operating results; |
|--------------------|----------------------------------------------------------------------|

| Ø   | The highly regulated environment in which we operate; |
|--------------------|-------------------------------------------------------|

| Ø   | Regulatory actions that impact First Banks, Inc. and First Bank, including the regulatory agreements entered into between the Company, First Bank, the Federal Reserve Bank of St. Louis and the Missouri Division of Finance; and |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | Our ability to respond to changes in technology or an interruption or breach in security of our information systems. |
|--------------------|----------------------------------------------------------------------------------------------------------------------|

| Ø   | The competition of larger acquirers with greater resources; |
|--------------------|-------------------------------------------------------------|

| Ø   | Fluctuations in the prices at which acquisition targets may be available for sale; |
|--------------------|------------------------------------------------------------------------------------|

| Ø   | The impact of making acquisitions without using our common stock; |
|--------------------|-------------------------------------------------------------------|

| Ø   | Possible asset quality issues, pending litigation, unknown liabilities and/or integration issues with the businesses that we have acquired; and |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | The impact of the regulatory agreements between the Company, First Bank, the Federal Reserve Bank of St. Louis and the Missouri Division of Finance. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Ø   | First Bank Business Capital, Inc.; |
|--------------------|------------------------------------|

| Ø   | Missouri Valley Partners, Inc., or MVP; |
|--------------------|-----------------------------------------|

| Ø   | Adrian N. Baker & Company, or Adrian Baker; |
|--------------------|-------------------------------------------------|

| Ø   | Universal Premium Acceptance Corporation and its wholly owned subsidiary, UPAC of California, Inc., collectively UPAC; |
|--------------------|------------------------------------------------------------------------------------------------------------------------|

| Ø   | Small Business Loan Source LLC, or SBLS LLC; |
|--------------------|----------------------------------------------|

| Ø   | FB Holdings, LLC, or FB Holdings; and |
|--------------------|---------------------------------------|

| Ø   | ILSIS, Inc. |
|--------------------|-------------|

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| Ø   | A net loss of $182.7 million; |
|--------------------|-------------------------------|

| Ø   | Dividends declared of $328,000 on our Class A and Class B preferred stock; |
|--------------------|----------------------------------------------------------------------------|

| Ø   | Dividends declared of $6.0 million on our Class C and Class D preferred stock; |
|--------------------|--------------------------------------------------------------------------------|

| Ø   | An increase of $2.8 million in additional paid-in capital as a result of the purchase of FCA’s minority interest in SBLS LLC, as further described in Note 1 and Note 6 to the consolidated financial statements; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | A decrease of $5.9 million in accumulated other comprehensive income primarily due to changes in unrealized gains and losses on our derivative financial instruments and investment securities; and |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | A decrease in noncontrolling interest in subsidiaries of $9.5 million, reflecting a decrease of $4.8 million associated with net losses in FB Holdings and SBLS LLC in addition to a decrease of $4.7 million associated with the purchase of FCA’s minority interest in SBLS LLC. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | A provision for loan losses of $112.0 million and $220.0 million for the three and six months ended June 30, 2009, respectively, compared to $84.1 million and $130.0 million for the comparable periods in 2008; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | Net interest income of $75.2 million and $146.6 million for the three and six months ended June 30, 2009, respectively, compared to $86.8 million and $176.3 million for the comparable periods in 2008, which resulted in a decline in our net interest margin to 3.16% and 3.08% for the three and six months ended June 30, 2009, respectively, compared to 3.55%and 3.60% for the comparable periods in 2008; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Ø   | Noninterest income of $27.2 million and $52.7 million for the three and six months ended June 30, 2009, respectively, compared to $18.9 million and $52.0 million for the comparable periods in 2008; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | Noninterest expense of $83.5 million and $164.4 million for the three and six months ended June 30, 2009, respectively, compared to $84.6 million and $168.1 million for the comparable periods in 2008; and |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | A provision for income taxes of $3.0 million and $2.5 million for the three and six months ended June 30, 2009, respectively, compared to a benefit for income taxes of $23.1 million and $25.1 million for the comparable periods in 2008. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                                             |   | Three Months Ended June 30,      |       |   | Six Months Ended June 30, |   |
|--------------------------------------------------|--------|----------------------------------|------------|--------|---------------------------|--------|
|                                             |   | 2009                             |       |   | 2008                      |   |   | 2009 |   |   | 2008 |   |
|                                             |   |                             |       |   | Interest                  |   |   |   |   |   |   |   |   | Interest |   |   |   |   |   |   |   |   | Interest |   |   |   |   |   |   |   |   | Interest |   |   |   |   |
|                                             |   | Average                          |       |   | Income/                   |   |   | Yield/ |   |   | Average |   |   | Income/ |   |   | Yield/ |   |   | Average |   |   | Income/ |   |   | Yield/ |   |   | Average |   |   | Income/ |   |   | Yield/ |   |
|                                             |   | Balance                          |       |   | Expense                   |   |   | Rate |   |   | Balance |   |   | Expense |   |   | Rate |   |   | Balance |   |   | Expense |   |   | Rate |   |   | Balance |   |   | Expense |   |   | Rate |   |
|                                             |   | (dollars expressed in thousands) |       |
|                                             |   |                             |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| ASSETS                                           |   |                             |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                             |   |                             |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-earning assets:                         |   |                             |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans (1)(2)(3)(4)                               |   | $                                | 8,349,589  |   |                      |   | 109,769 |   |   |   | 5.27 | % |   | $ | 9,046,080 |   |   |   | 138,290 |   |   |   | 6.15 | % |   | $ | 8,446,557 |   |   |   | 221,415 |   |   |   | 5.29 | % |   | $ | 8,998,416 |   |   |   | 291,182 |   |   |   | 6.51 | % |
| Investment securities (4)                        |   |                             | 683,938    |   |                      |   | 7,329 |   |   |   | 4.30 |   |   |   | 791,206 |   |   |   | 9,635 |   |   |   | 4.90 |   |   |   | 671,185 |   |   |   | 14,960 |   |   |   | 4.49 |   |   |   | 866,807 |   |   |   | 21,237 |   |   |   | 4.93 |   |
| Short-term investments                           |   |                             | 522,867    |   |                      |   | 394 |   |   |   | 0.30 |   |   |   | 31,770 |   |   |   | 154 |   |   |   | 1.95 |   |   |   | 504,334 |   |   |   | 904 |   |   |   | 0.36 |   |   |   | 24,991 |   |   |   | 316 |   |   |   | 2.54 |   |
| Total interest-earning assets                    |   |                             | 9,556,394  |   |                      |   | 117,492 |   |   |   | 4.93 |   |   |   | 9,869,056 |   |   |   | 148,079 |   |   |   | 6.03 |   |   |   | 9,622,076 |   |   |   | 237,279 |   |   |   | 4.97 |   |   |   | 9,890,214 |   |   |   | 312,735 |   |   |   | 6.36 |   |
| Nonearning assets                                |   |                             | 825,115    |   |                      |   |   |   |   |   |   |   |   |   | 904,886 |   |   |   |   |   |   |   |   |   |   |   | 859,953 |   |   |   |   |   |   |   |   |   |   |   | 918,862 |   |   |   |   |   |   |   |   |   |
| Total assets                                     |   | $                                | 10,381,509 |   |                      |   |   |   |   |   |   |   |   | $ | 10,773,942 |   |   |   |   |   |   |   |   |   |   | $ | 10,482,029 |   |   |   |   |   |   |   |   |   |   | $ | 10,809,076 |   |   |   |   |   |   |   |   |   |
|                                             |   |                             |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| LIABILITIES AND                                  |   |                             |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| STOCKHOLDERS’ EQUITY                       |   |                             |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                             |   |                             |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing liabilities:                    |   |                             |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing deposits:                       |   |                             |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing demand                          |   | $                                | 952,081    |   |                      |   | 467 |   |   |   | 0.20 | % |   | $ | 972,832 |   |   |   | 1,321 |   |   |   | 0.55 | % |   | $ | 940,700 |   |   |   | 920 |   |   |   | 0.20 | % |   | $ | 985,914 |   |   |   | 3,353 |   |   |   | 0.68 | % |
| Savings and money market                         |   |                             | 2,838,233  |   |                      |   | 7,386 |   |   |   | 1.04 |   |   |   | 2,872,992 |   |   |   | 14,417 |   |   |   | 2.02 |   |   |   | 2,821,611 |   |   |   | 17,641 |   |   |   | 1.26 |   |   |   | 2,791,048 |   |   |   | 31,944 |   |   |   | 2.30 |   |
| Time deposits of $100 or more                    |   |                             | 1,216,202  |   |                      |   | 9,732 |   |   |   | 3.21 |   |   |   | 1,333,043 |   |   |   | 13,016 |   |   |   | 3.93 |   |   |   | 1,230,892 |   |   |   | 20,208 |   |   |   | 3.31 |   |   |   | 1,415,813 |   |   |   | 29,785 |   |   |   | 4.23 |   |
| Other time deposits                              |   |                             | 2,351,878  |   |                      |   | 18,506 |   |   |   | 3.16 |   |   |   | 2,409,569 |   |   |   | 22,728 |   |   |   | 3.79 |   |   |   | 2,395,941 |   |   |   | 38,559 |   |   |   | 3.25 |   |   |   | 2,484,457 |   |   |   | 50,515 |   |   |   | 4.09 |   |
| Total interest-bearing deposits                  |   |                             | 7,358,394  |   |                      |   | 36,091 |   |   |   | 1.97 |   |   |   | 7,588,436 |   |   |   | 51,482 |   |   |   | 2.73 |   |   |   | 7,389,144 |   |   |   | 77,328 |   |   |   | 2.11 |   |   |   | 7,677,232 |   |   |   | 115,597 |   |   |   | 3.03 |   |
| Other borrowings                                 |   |                             | 378,570    |   |                      |   | 1,677 |   |   |   | 1.78 |   |   |   | 611,619 |   |   |   | 3,859 |   |   |   | 2.54 |   |   |   | 416,988 |   |   |   | 4,018 |   |   |   | 1.94 |   |   |   | 571,417 |   |   |   | 7,787 |   |   |   | 2.74 |   |
| Notes payable (5)                                |   |                             | —    |   |                      |   | 18 |   |   |   | — |   |   |   | 42,525 |   |   |   | 696 |   |   |   | 6.58 |   |   |   | — |   |   |   | 37 |   |   |   | — |   |   |   | 40,999 |   |   |   | 1,265 |   |   |   | 6.20 |   |
| Subordinated debentures (3)                      |   |                             | 353,857    |   |                      |   | 4,304 |   |   |   | 4.88 |   |   |   | 353,781 |   |   |   | 4,933 |   |   |   | 5.61 |   |   |   | 353,848 |   |   |   | 8,810 |   |   |   | 5.02 |   |   |   | 353,771 |   |   |   | 11,098 |   |   |   | 6.31 |   |
| Total interest-bearing liabilities               |   |                             | 8,090,821  |   |                      |   | 42,090 |   |   |   | 2.09 |   |   |   | 8,596,361 |   |   |   | 60,970 |   |   |   | 2.85 |   |   |   | 8,159,980 |   |   |   | 90,193 |   |   |   | 2.23 |   |   |   | 8,643,419 |   |   |   | 135,747 |   |   |   | 3.16 |   |
| Noninterest-bearing liabilities:                 |   |                             |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Demand deposits                                  |   |                             | 1,315,541  |   |                      |   |   |   |   |   |   |   |   |   | 1,225,073 |   |   |   |   |   |   |   |   |   |   |   | 1,285,832 |   |   |   |   |   |   |   |   |   |   |   | 1,210,424 |   |   |   |   |   |   |   |   |   |
| Other liabilities                                |   |                             | 100,937    |   |                      |   |   |   |   |   |   |   |   |   | 91,858 |   |   |   |   |   |   |   |   |   |   |   | 107,795 |   |   |   |   |   |   |   |   |   |   |   | 99,570 |   |   |   |   |   |   |   |   |   |
| Total liabilities                                |   |                             | 9,507,299  |   |                      |   |   |   |   |   |   |   |   |   | 9,913,292 |   |   |   |   |   |   |   |   |   |   |   | 9,553,607 |   |   |   |   |   |   |   |   |   |   |   | 9,953,413 |   |   |   |   |   |   |   |   |   |
| Stockholders’ equity                       |   |                             | 874,210    |   |                      |   |   |   |   |   |   |   |   |   | 860,650 |   |   |   |   |   |   |   |   |   |   |   | 928,422 |   |   |   |   |   |   |   |   |   |   |   | 855,663 |   |   |   |   |   |   |   |   |   |
| Total liabilities and stockholders’ equity |   | $                                | 10,381,509 |   |                      |   |   |   |   |   |   |   |   | $ | 10,773,942 |   |   |   |   |   |   |   |   |   |   | $ | 10,482,029 |   |   |   |   |   |   |   |   |   |   | $ | 10,809,076 |   |   |   |   |   |   |   |   |   |
|                                             |   |                             |       |   |                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net interest income                              |   |                             |       |   |                      |   | 75,402 |   |   |   |   |   |   |   |   |   |   |   | 87,109 |   |   |   |   |   |   |   |   |   |   |   | 147,086 |   |   |   |   |   |   |   |   |   |   |   | 176,988 |   |   |   |   |   |
| Interest rate spread                             |   |                             |       |   |                      |   |   |   |   |   | 2.84 |   |   |   |   |   |   |   |   |   |   |   | 3.18 |   |   |   |   |   |   |   |   |   |   |   | 2.74 |   |   |   |   |   |   |   |   |   |   |   | 3.20 |   |
| Net interest margin (6)                          |   |                             |       |   |                      |   |   |   |   |   | 3.16 | % |   |   |   |   |   |   |   |   |   |   | 3.55 | % |   |   |   |   |   |   |   |   |   |   | 3.08 | % |   |   |   |   |   |   |   |   |   |   | 3.60 | % |

| (1)  | For purposes of these computations, nonaccrual loans are included in the average loan amounts. |
|-----------|------------------------------------------------------------------------------------------------|

| (2)  | Interest income on loans includes loan fees. |
|-----------|----------------------------------------------|

| (3)  | Interest income and interest expense include the effects of interest rate swap agreements. |
|-----------|--------------------------------------------------------------------------------------------|

| (4) | Information is presented on a tax-equivalent basis assuming a tax rate of 35%. The tax-equivalent adjustments were approximately $230,000 and $478,000 for the three and six months ended June 30, 2009, respectively, and $326,000 and $678,000 for the comparable periods in 2008. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | Interest expense on our notes payable includes commitment, arrangement and renewal fees. Exclusive of these fees, the interest rates paid were 4.60% and 4.63% for the three and six months ended June 30, 2008, respectively. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6)  | Net interest margin is the ratio of net interest income (expressed on a tax-equivalent basis) to average interest-earning assets. |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------|

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|                              |   | Increase (Decrease) Attributable to Change in: |    |
|-----------------------------------|--------|------------------------------------------------|---------|
|                              |   | Three Months Ended                             |    |   | Six Months Ended |   |
|                              |   | June 30, 2009                                  |    |   | June 30, 2009 |   |
|                              |   | Compared to 2008                               |    |   | Compared to 2008 |   |
|                              |   |                                           |    |   |   |   |   | Net |   |   |   |   |   |   |   |   | Net |   |
|                              |   | Volume                                         |    |   | Rate |   |   | Change |   |   | Volume |   |   | Rate |   |   | Change |   |
|                              |   | (dollars expressed in thousands)               |    |
| Interest earned on:               |   |                                           |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans: (1) (2) (3)                |   |                                           |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Taxable                           |   | $                                              | (9,996  | ) |   |   | (18,365 | ) |   |   | (28,361 | ) |   |   | (17,093 | ) |   |   | (52,297 | ) |   |   | (69,390 | ) |
| Tax-exempt (4)                    |   |                                           | (30     | ) |   |   | (130 | ) |   |   | (160 | ) |   |   | (73 | ) |   |   | (304 | ) |   |   | (377 | ) |
| Investment securities:            |   |                                           |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Taxable                           |   |                                           | (1,105  | ) |   |   | (1,087 | ) |   |   | (2,192 | ) |   |   | (4,287 | ) |   |   | (1,796 | ) |   |   | (6,083 | ) |
| Tax-exempt (4)                    |   |                                           | (136    | ) |   |   | 22 |   |   |   | (114 | ) |   |   | (250 | ) |   |   | 56 |   |   |   | (194 | ) |
| Short-term investments            |   |                                           | 475     |   |   |   | (235 | ) |   |   | 240 |   |   |   | 1,080 |   |   |   | (492 | ) |   |   | 588 |   |
| Total interest income             |   |                                           | (10,792 | ) |   |   | (19,795 | ) |   |   | (30,587 | ) |   |   | (20,623 | ) |   |   | (54,833 | ) |   |   | (75,456 | ) |
| Interest paid on:                 |   |                                           |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing demand deposits  |   |                                           | (28     | ) |   |   | (826 | ) |   |   | (854 | ) |   |   | (148 | ) |   |   | (2,285 | ) |   |   | (2,433 | ) |
| Savings and money market deposits |   |                                           | (171    | ) |   |   | (6,860 | ) |   |   | (7,031 | ) |   |   | 342 |   |   |   | (14,645 | ) |   |   | (14,303 | ) |
| Time deposits                     |   |                                           | (1,583  | ) |   |   | (5,923 | ) |   |   | (7,506 | ) |   |   | (5,387 | ) |   |   | (16,146 | ) |   |   | (21,533 | ) |
| Other borrowings                  |   |                                           | (1,222  | ) |   |   | (960 | ) |   |   | (2,182 | ) |   |   | (1,812 | ) |   |   | (1,957 | ) |   |   | (3,769 | ) |
| Notes payable (5)                 |   |                                           | (339    | ) |   |   | (339 | ) |   |   | (678 | ) |   |   | (614 | ) |   |   | (614 | ) |   |   | (1,228 | ) |
| Subordinated debentures (3)       |   |                                           | 1       |   |   |   | (630 | ) |   |   | (629 | ) |   |   | 2 |   |   |   | (2,290 | ) |   |   | (2,288 | ) |
| Total interest expense            |   |                                           | (3,342  | ) |   |   | (15,538 | ) |   |   | (18,880 | ) |   |   | (7,617 | ) |   |   | (37,937 | ) |   |   | (45,554 | ) |
| Net interest income               |   | $                                              | (7,450  | ) |   |   | (4,257 | ) |   |   | (11,707 | ) |   |   | (13,006 | ) |   |   | (16,896 | ) |   |   | (29,902 | ) |

| (1) | For purposes of these computations, nonaccrual loans are included in the average loan amounts. |
|-----|------------------------------------------------------------------------------------------------|

| (2) | Interest income on loans includes loan fees. |
|-----|----------------------------------------------|

| (3) | Interest income and interest expense include the effect of interest rate swap agreements. |
|-----|-------------------------------------------------------------------------------------------|

| (4) | Information is presented on a tax-equivalent basis assuming a tax rate of 35%. |
|-----|--------------------------------------------------------------------------------|

| (5) | Interest expense on our notes payable includes commitment, arrangement and renewal fees. |
|-----|------------------------------------------------------------------------------------------|

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| Ø   | Recoveries of certain loan principal balances that had been previously charged off by the financial institutions prior to their acquisition by First Banks of $67,000 and $94,000 for the three and six months ended June 30, 2009, respectively, compared to $686,000 and $1.5 million for the same periods in 2008; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | Income of $1.8 million recognized in the second quarter of 2008 on the sale of various state tax credits; and |
|--------------------|---------------------------------------------------------------------------------------------------------------|

| Ø   | A gain recognized in the first quarter of 2008 on the Visa, Inc., or Visa, initial public offering of $743,000, representing the cash payment received in exchange for a portion of our membership interest in Visa as a result of Visa’s initial public offering; partially offset by |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | Gains on sales of other real estate of $737,000 and $1.5 million for the three and six months ended June 30, 2009, respectively, compared to losses on sales of other real estate of $170,000 and $290,000 for the comparable periods in 2008. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                                                   |   | June 30, 2009                    |    |   | December 31, 2008 |   |
|--------------------------------------------------------|--------|----------------------------------|---------|--------|-------------------|--------|
|                                                   |   | Notional                         |    |   | Credit            |   |   | Notional |   |   | Credit |   |
|                                                   |   | Amount                           |    |   | Exposure          |   |   | Amount |   |   | Exposure |   |
|                                                   |   | (dollars expressed in thousands) |    |
|                                                   |   |                             |    |   |              |   |   |   |   |   |   |   |
| Cash flow hedges – subordinated debentures       |   | $                                | 125,000 |   |              |   | — |   |   |   | 125,000 |   |   |   | — |   |
| Customer interest rate swap agreements                 |   |                             | 59,696  |   |              |   | — |   |   |   | 16,000 |   |   |   | — |   |
| Interest rate lock commitments                         |   |                             | 44,000  |   |              |   | 584 |   |   |   | 48,700 |   |   |   | 831 |   |
| Forward commitments to sell mortgage-backed securities |   |                             | 99,900  |   |              |   | 511 |   |   |   | 40,300 |   |   |   | — |   |

|                                               |   | June 30,                         |      |   | December 31, |   |
|----------------------------------------------------|--------|----------------------------------|-----------|--------|--------------|--------|
|                                               |   | 2009                             |      |   | 2008         |   |
|                                               |   | (dollars expressed in thousands) |      |
|                                               |   |                             |      |   |         |   |
| Commercial, financial and agricultural             |   | $                                | 2,456,057 |   |         |   | 2,575,505 |   |
| Real estate construction and development           |   |                             | 1,238,616 |   |         |   | 1,572,212 |   |
| Real estate mortgage:                              |   |                             |      |   |         |   |   |   |
| One-to-four family residential                     |   |                             | 1,450,678 |   |         |   | 1,553,366 |   |
| Multi-family residential                           |   |                             | 241,803   |   |         |   | 220,404 |   |
| Commercial real estate                             |   |                             | 2,656,696 |   |         |   | 2,562,598 |   |
| Consumer and installment, net of unearned discount |   |                             | 64,375    |   |         |   | 70,170 |   |
| Loans held for sale                                |   |                             | 88,823    |   |         |   | 38,720 |   |
| Loans, net of unearned discount                    |   |                             | 8,197,048 |   |         |   | 8,592,975 |   |

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| Ø   | A decrease of $119.4 million in our commercial, financial and agricultural portfolio, reflecting a decline in internal loan production within this portfolio and loan charge-offs of $51.4 million, primarily comprised of three significant charge-offs totaling approximately $36.2 million, as further discussed below; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | A decrease of $333.6 million in our real estate construction and development portfolio primarily resulting from our efforts to reduce the exposure in our construction and development portfolio in light of the current economic environment within our market areas. The decrease during the first six months of 2009 reflects loan charge-offs of $48.1 million,transfers to other real estate and other loan activity, including transfers of loans from real estate construction and development to commercial real estate and multi-family residential real estate in accordance with regulatory guidelines. Of the remaining balance in our real estate construction and development portfolio of $1.24 billion, $227.4 million, or 18.4%, is on nonaccrual status at June 30, 2009. The following table summarizes the composition of our real estate construction and development portfolioby region as of June 30, 2009 and December 31, 2008: |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                             |   | June 30,                         |      |   | December 31, |   |
|----------------------------------|--------|----------------------------------|-----------|--------|--------------|--------|
|                             |   | 2009                             |      |   | 2008         |   |
|                             |   | (dollars expressed in thousands) |      |
| Northern California              |   | $                                | 133,886   |   |         |   | 234,942 |   |
| Southern California              |   |                             | 470,699   |   |         |   | 504,354 |   |
| Chicago                          |   |                             | 154,700   |   |         |   | 185,054 |   |
| Metropolitan St. Louis, Missouri |   |                             | 193,884   |   |         |   | 230,254 |   |
| Texas                            |   |                             | 205,567   |   |         |   | 283,993 |   |
| Florida                          |   |                             | 16,816    |   |         |   | 37,242 |   |
| Other                            |   |                             | 63,064    |   |         |   | 96,373 |   |
| Total                            |   | $                                | 1,238,616 |   |         |   | 1,572,212 |   |

| Ø   | A decrease of $102.7 million in our one-to-four family residential real estate loan portfolio primarily attributable to loan charge-offs of $51.8 million, transfers to other real estate and payments, partially offset by an increase in our home equity loan portfolio of $19.4 million. The following table summarizes the composition of our one-to-four familyresidential real estate loan portfolio as of June 30, 2009 and December 31, 2008: |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                           |   | June 30,                         |      |   | December 31, |   |
|------------------------------------------------|--------|----------------------------------|-----------|--------|--------------|--------|
|                                           |   | 2009                             |      |   | 2008         |   |
|                                           |   | (dollars expressed in thousands) |      |
|                                           |   |                             |      |   |         |   |
| One-to-four family residential real estate:    |   |                             |      |   |         |   |
| Non-Mortgage Division portfolio                |   | $                                | 421,084   |   |         |   | 455,545 |   |
| Mortgage Division portfolio, excluding Florida |   |                             | 377,975   |   |         |   | 427,821 |   |
| Florida Mortgage Division portfolio            |   |                             | 202,104   |   |         |   | 239,906 |   |
| Home equity portfolio                          |   |                             | 449,515   |   |         |   | 430,094 |   |
| Total                                          |   | $                                | 1,450,678 |   |         |   | 1,553,366 |   |

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| Ø   | An increase of $94.1 million in our commercial real estate loan portfolio primarily due to transfers of loans from real estate construction and development to commercial real estate upon completion of the construction of the underlying projects related to such loans, partially offset by our efforts to reduce our exposure to commercial real estate in thecurrent economic environment and loan charge-offs of $6.9 million; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | An increase of $50.1 million in our loans held for sale portfolio resulting from increased levels of refinancing of one-to-four family residential real estate loans in light of lower mortgage interest rates during the first six months of 2009, coupled with the timing of increased loan originations and subsequent sales in the secondary mortgage market;and |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | An increase of $21.4 million in multi-family residential real estate loans primarily attributable to transfers of loans from real estate construction and development to multi-family residential real estate upon completion of the construction of the underlying projects related to such loans. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                |   | June 30,                         |      |   | December 31, |   |
|-----------------------------------------------------|--------|----------------------------------|-----------|--------|--------------|--------|
|                                                |   | 2009                             |      |   | 2008         |   |
|                                                |   | (dollars expressed in thousands) |      |
| Commercial, financial and agricultural:             |   |                             |      |   |         |   |
| Nonaccrual                                          |   | $                                | 81,456    |   |         |   | 40,647 |   |
| Real estate construction and development:           |   |                             |      |   |         |   |   |   |
| Nonaccrual                                          |   |                             | 227,362   |   |         |   | 270,444 |   |
| Real estate mortgage:                               |   |                             |      |   |         |   |   |   |
| One-to-four family residential:                     |   |                             |      |   |         |   |   |   |
| Nonaccrual                                          |   |                             | 102,160   |   |         |   | 83,140 |   |
| Restructured                                        |   |                             | 25,734    |   |         |   | 24,641 |   |
| Multi-family residential:                           |   |                             |      |   |         |   |   |   |
| Nonaccrual                                          |   |                             | 4,379     |   |         |   | 545 |   |
| Commercial real estate:                             |   |                             |      |   |         |   |   |   |
| Nonaccrual                                          |   |                             | 53,119    |   |         |   | 23,009 |   |
| Consumer and installment:                           |   |                             |      |   |         |   |   |   |
| Nonaccrual                                          |   |                             | 154       |   |         |   | — |   |
| Total nonperforming loans                           |   |                             | 494,364   |   |         |   | 442,426 |   |
| Other real estate                                   |   |                             | 156,944   |   |         |   | 91,524 |   |
| Total nonperforming assets                          |   | $                                | 651,308   |   |         |   | 533,950 |   |
|                                                |   |                             |      |   |         |   |   |   |
| Loans, net of unearned discount                     |   | $                                | 8,197,048 |   |         |   | 8,592,975 |   |
|                                                |   |                             |      |   |         |   |   |   |
| Loans past due 90 days or more and still accruing   |   | $                                | 41,897    |   |         |   | 7,094 |   |
|                                                |   |                             |      |   |         |   |   |   |
| Ratio of:                                           |   |                             |      |   |         |   |   |   |
| Allowance for loan losses to loans                  |   |                             | 3.51      | %      |         |   | 2.56 | % |
| Nonperforming loans to loans                        |   |                             | 6.03      |   |         |   | 5.15 |   |
| Allowance for loan losses to nonperforming loans    |   |                             | 58.12     |   |         |   | 49.77 |   |
| Nonperforming assets to loans and other real estate |   |                             | 7.80      |   |         |   | 6.15 |   |

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|                                          |   | June 30,                         |    |   | December 31, |   |
|-----------------------------------------------|--------|----------------------------------|---------|--------|--------------|--------|
|                                          |   | 2009                             |    |   | 2008         |   |
|                                          |   | (dollars expressed in thousands) |    |
|                                          |   |                             |    |   |         |   |
| Mortgage Division, excluding Florida          |   | $                                | 85,614  |   |         |   | 67,591 |   |
| Florida                                       |   |                             | 71,851  |   |         |   | 81,303 |   |
| Northern California real estate               |   |                             | 114,018 |   |         |   | 103,325 |   |
| Southern California real estate               |   |                             | 86,044  |   |         |   | 77,349 |   |
| Chicago real estate                           |   |                             | 64,202  |   |         |   | 46,272 |   |
| Metropolitan St. Louis, Missouri real estate  |   |                             | 50,739  |   |         |   | 56,031 |   |
| Texas real estate                             |   |                             | 30,230  |   |         |   | 27,143 |   |
| First Bank Business Capital, Inc.             |   |                             | 11,733  |   |         |   | 24,501 |   |
| Northern California commercial and industrial |   |                             | 23,217  |   |         |   | 861 |   |
| Southern California commercial and industrial |   |                             | 31,774  |   |         |   | 3,007 |   |
| Texas commercial and industrial               |   |                             | 27,002  |   |         |   | 4,566 |   |
| Other                                         |   |                             | 54,884  |   |         |   | 42,001 |   |
|    Total nonperforming assets       |   | $                                | 651,308 |   |         |   | 533,950 |   |

| Ø   | An increase in nonaccrual loans of $40.8 million in our commercial, financial and agricultural portfolio primarily resulting from continued weak economic conditions nationwide, including: (a) the additions of individual credits of $10.0 million, net of a $10.7 million charge-off, and $12.5 million in our Northern California region placed on nonaccrualstatus; (b) the addition of a single $20.0 million credit in our Southern California market placed on nonaccrual status, net of a $10.0 million charge-off; (c) an increase in nonaccrual loans of $21.0 million in our Texas region, primarily attributable to the addition of a single $16.5 million credit placed on nonaccrual status; partially offset by (d) loan charge-offs of $15.5 million recorded in the first six months of 2009 on a single credit relationship in our First Bank Business Capital, Inc. subsidiary,which was on nonaccrual status at December 31, 2008; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | An increase in nonaccrual loans of $30.1 million in our commercial real estate portfolio primarily driven by continued weak economic conditions and significant declines in real estate values; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | An overall net increase in nonaccrual loans of $19.0 million in our one-to-four family residential real estate loan portfolio primarily driven by current market conditions and the overall deterioration of Alt A and sub-prime residential mortgage loan products experienced throughout the mortgage banking industry. Our one-to-four family residential nonaccrualloans in our Mortgage Banking division, excluding Florida, increased $16.9 million, from $38.5 million at December 31, 2008 to $55.4 million at June 30, 2009. Our one-to-four family residential nonaccrual loans in our Florida region decreased $1.8 million, from $30.7 million at December 31, 2008 to $28.9 million at June 30, 2009. The remaining increase in our one-to-four family residential nonaccrual loans of $3.9 million occurred in our Non-Mortgage division portfolio; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Ø   | An increase in one-to-four family restructured loans of $1.1 million to $25.7 million at June 30, 2009, consisting of total restructured loans of $29.8 million, partially offset by $4.1 million of restructured loans classified as nonaccrual in the one-to-four family residential real estate loan category. Restructured loans (not classified as nonaccrual)within our mortgage banking division and Florida region were $19.6 million and $6.1 million, respectively, at June 30, 2009. Throughout 2008 and the first six months of 2009, certain one-to-four family residential mortgage loans in our Florida region and mortgage banking division, primarily located in California, were restructured, whereby the contractual interest rate was reduced over a certain time period due to concentrated efforts to work with borrowers to facilitate appropriate loan terms in light of ongoingmarket conditions and individual borrower circumstances. As of June 30, 2009, we had total restructured loans of $29.8 million, of which $4.1 million, or 13.6%, were on nonaccrual status and $2.6 million, or 8.7% were delinquent. As such, 22.3% of our restructured loans were delinquent or on nonaccrual status at June 30, 2009; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | An increase in nonaccrual loans of $3.8 million in our multi-family residential real estate mortgage loans portfolio; and |
|--------------------|---------------------------------------------------------------------------------------------------------------------------|

| Ø   | An increase in other real estate owned of $65.4 million to $156.9 million at June 30, 2009, primarily resulting from the foreclosure of real estate construction and development loans throughout the first six months of 2009. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | A decrease in nonaccrual loans of $43.1 million in our real estate construction and development loan portfolio primarily driven by loan charge-offs of $48.1 million and transfers to other real estate, partially offset by additional asset quality deterioration within this portfolio. We continue to experience deterioration in our real estate constructionand development portfolio as a result of weak economic conditions and significant continued declines in real estate values and we expect these trends to continue until market conditions stabilize, both on a nationwide basis and in our primary market areas. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                           |   | Three Months Ended               |   |   | Six Months Ended |   |
|--------------------------------|--------|----------------------------------|--------|--------|------------------|--------|
|                           |   | June 30,                         |   |   | June 30,         |   |
|                           |   | 2009                             |   |   | 2008             |   |   | 2009 |   |   | 2008 |   |
|                           |   | (dollars expressed in thousands) |   |
|                           |   |                             |   |   |             |   |   |   |   |   |   |   |
| Balance, beginning of period   |   | $                                | 4,443  |   |             |   | 42,067 |   |   |   | 9,997 |   |   |   | 46,003 |   |
| Transfers to other real estate |   |                             | (517   | )      |             |   | (2,883 | ) |   |   | (3,291 | ) |   |   | (5,206 | ) |
| Loans charged-off              |   |                             | (641   | )      |             |   | (3,672 | ) |   |   | (3,189 | ) |   |   | (5,060 | ) |
| Payments and settlements       |   |                             | (244   | )      |             |   | (5,129 | ) |   |   | (476 | ) |   |   | (5,354 | ) |
| Balance, end of period         |   | $                                | 3,041  |   |             |   | 30,383 |   |   |   | 3,041 |   |   |   | 30,383 |   |

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|                                        |   | Three Months Ended               |    |   | Six Months Ended |   |
|---------------------------------------------|--------|----------------------------------|---------|--------|------------------|--------|
|                                        |   | June 30,                         |    |   | June 30,         |   |
|                                        |   | 2009                             |    |   | 2008             |   |   | 2009 |   |   | 2008 |   |
|                                        |   | (dollars expressed in thousands) |    |
|                                        |   |                             |    |   |             |   |   |   |   |   |   |   |
| Balance, beginning of period                |   | $                                | 256,551 |   |             |   | 185,184 |   |   |   | 220,214 |   |   |   | 168,391 |   |
| Loans charged-off:                          |   |                             |    |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Commercial, financial and agricultural      |   |                             | (27,245 | )      |             |   | (3,851 | ) |   |   | (51,356 | ) |   |   | (5,616 | ) |
| Real estate construction and development    |   |                             | (30,149 | )      |             |   | (50,679 | ) |   |   | (48,139 | ) |   |   | (68,402 | ) |
| Real estate mortgage:                       |   |                             |    |   |             |   |   |   |   |   |   |   |   |   |   |   |
| One-to-four family residential loans        |   |                             | (23,041 | )      |             |   | (12,381 | ) |   |   | (51,818 | ) |   |   | (23,724 | ) |
| Multi-family residential loans              |   |                             | (304    | )      |             |   | (19 | ) |   |   | (304 | ) |   |   | (19 | ) |
| Commercial real estate loans                |   |                             | (3,159  | )      |             |   | (2,244 | ) |   |   | (6,851 | ) |   |   | (2,429 | ) |
| Consumer and installment                    |   |                             | (322    | )      |             |   | (392 | ) |   |   | (566 | ) |   |   | (715 | ) |
| Total loans charged-off                     |   |                             | (84,220 | )      |             |   | (69,566 | ) |   |   | (159,034 | ) |   |   | (100,905 | ) |
| Recoveries of loans previously charged-off: |   |                             |    |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Commercial financial and agricultural       |   |                             | 1,786   |   |             |   | 889 |   |   |   | 2,442 |   |   |   | 2,343 |   |
| Real estate construction and development    |   |                             | 215     |   |             |   | 144 |   |   |   | 666 |   |   |   | 540 |   |
| Real estate mortgage:                       |   |                             |    |   |             |   |   |   |   |   |   |   |   |   |   |   |
| One-to-four family residential loans        |   |                             | 695     |   |             |   | 48 |   |   |   | 1,842 |   |   |   | 229 |   |
| Multi-family residential loans              |   |                             | — |   |             |   | 2 |   |   |   | — |   |   |   | 2 |   |
| Commercial real estate loans                |   |                             | 240     |   |             |   | 112 |   |   |   | 1,061 |   |   |   | 184 |   |
| Consumer and installment                    |   |                             | 50      |   |             |   | 91 |   |   |   | 126 |   |   |   | 173 |   |
| Recoveries of loans previously charged-off  |   |                             | 2,986   |   |             |   | 1,286 |   |   |   | 6,137 |   |   |   | 3,471 |   |
| Net loans charged-off                       |   |                             | (81,234 | )      |             |   | (68,280 | ) |   |   | (152,897 | ) |   |   | (97,434 | ) |
| Provision for loan losses                   |   |                             | 112,000 |   |             |   | 84,053 |   |   |   | 220,000 |   |   |   | 130,000 |   |
| Balance, end of period                      |   | $                                | 287,317 |   |             |   | 200,957 |   |   |   | 287,317 |   |   |   | 200,957 |   |

|                                          |   | Three Months Ended               |   |   | Six Months Ended |   |
|-----------------------------------------------|--------|----------------------------------|--------|--------|------------------|--------|
|                                          |   | June 30,                         |   |   | June 30,         |   |
|                                          |   | 2009                             |   |   | 2008             |   |   | 2009 |   |   | 2008 |   |
|                                          |   | (dollars expressed in thousands) |   |
|                                          |   |                             |   |   |             |   |   |   |   |   |   |   |
| Mortgage Division, excluding Florida          |   | $                                | 12,481 |   |             |   | 9,225 |   |   |   | 23,188 |   |   |   | 18,766 |   |
| Florida                                       |   |                             | 15,124 |   |             |   | 5,985 |   |   |   | 34,980 |   |   |   | 8,302 |   |
| Northern California real estate               |   |                             | 6,082  |   |             |   | 41,394 |   |   |   | 9,766 |   |   |   | 57,276 |   |
| Southern California real estate               |   |                             | 4,401  |   |             |   | 1,034 |   |   |   | 10,853 |   |   |   | 1,034 |   |
| Chicago real estate                           |   |                             | 11,837 |   |             |   | (2 | ) |   |   | 15,226 |   |   |   | (2 | ) |
| Metropolitan St. Louis, Missouri real estate  |   |                             | 110    |   |             |   | 996 |   |   |   | (7 | ) |   |   | 994 |   |
| Texas real estate                             |   |                             | 390    |   |             |   | 2,814 |   |   |   | 2,020 |   |   |   | 3,223 |   |
| First Bank Business Capital, Inc.             |   |                             | 8,225  |   |             |   | (91 | ) |   |   | 18,695 |   |   |   | (91 | ) |
| Northern California commercial and industrial |   |                             | 11,403 |   |             |   | (12 | ) |   |   | 11,400 |   |   |   | (21 | ) |
| Southern California commercial and industrial |   |                             | 439    |   |             |   | 699 |   |   |   | 10,553 |   |   |   | 1,246 |   |
| Other                                         |   |                             | 10,742 |   |             |   | 6,238 |   |   |   | 16,223 |   |   |   | 6,707 |   |
| Total net loan charge-offs                    |   | $                                | 81,234 |   |             |   | 68,280 |   |   |   | 152,897 |   |   |   | 97,434 |   |

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| Ø   | Net loan charge-offs of $25.5 million and $48.9 million recorded for the three and six months ended June 30, 2009, respectively, associated with our commercial, financial and agricultural portfolio, compared to $3.0 million and $3.3 million for the comparable periods in 2008, reflecting declining market conditions within certain sectors of this portfoliothat began in the first quarter of 2009. Specifically in this portfolio, we recorded $15.5 million in aggregate loan charge-offs on a single credit in our First Bank Business Capital, Inc. subsidiary during the first six months of 2009, as well as a $10.7 million loan charge-off on a single credit in our Northern California market area that went on nonaccrual status during the second quarter of 2009, and a $10.0 million loan charge-off on a single credit in our Southern California market area that went on nonaccrualstatus during the first quarter of 2009; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | Net loan charge-offs of $29.9 million and $47.5 million recorded for the three and six months ended June 30, 2009, respectively, associated with our real estate construction and development portfolio, compared to $50.5 million and $67.9 million for the comparable periods in 2008. We continue to experience significant distress and drastically decliningmarket conditions within our Northern and Southern California, Chicago and St. Louis real estate markets, resulting in increased developer inventories, slower lot and home sales and significantly declining real estate values; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | Net loan charge-offs of $12.5 million and $23.2 million recorded for the three and six months ended June 30, 2009, respectively, associated with our mortgage division, excluding Florida, compared to $9.2 million and $18.8 million for the comparable periods in 2008; and |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Ø   | Net loan charge-offs of $15.1 million and $35.0 million recorded for the three and six months ended June 30, 2009, respectively, associated with our Florida region, compared to $6.0 million and $8.3 million for the comparable periods in 2008, including $6.8 million and $20.8 million, and $220,000 and $407,000, of net loan charge-offs, respectively, onour Florida one-to-four family residential portfolio. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                                  |   | Certificates of Depositof $100,000 or More |      |   | OtherBorrowings |   |    | Total  |   |
|---------------------------------------|--------|--------------------------------------------|-----------|--------|-----------------|--------|---------|--------|--------|
|                                  |   | (dollars expressed in thousands)           |      |
|                                  |   |                                       |      |   |            |   |    |   |   |
| Three months or less                  |   | $                                          | 406,359   |   |            |   | 119,082 |   |   |   | 525,441 |   |
| Over three months through six months  |   |                                       | 386,255   |   |            |   | — |   |   |   | 386,255 |   |
| Over six months through twelve months |   |                                       | 284,004   |   |            |   | 100,000 |   |   |   | 384,004 |   |
| Over twelve months                    |   |                                       | 137,717   |   |            |   | 220,676 |   |   |   | 358,393 |   |
| Total                                 |   | $                                          | 1,214,335 |   |            |   | 439,758 |   |   |   | 1,654,093 |   |

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|                                          |   | Less than                        |      |   |   | 1-3    |    |   |   | 3-5    |    |   | Over   |      |    |   |   |
|-----------------------------------------------|--------|----------------------------------|-----------|--------|--------|--------|---------|--------|--------|--------|---------|--------|--------|-----------|---------|--------|--------|
|                                          |   | 1 Year                           |      |   | Years  |   |    | Years  |   |   | 5 Years |   |   | Total (1) |    |
|                                          |   | (dollars expressed in thousands) |      |
|                                          |   |                             |      |   |   |   |    |   |   |   |    |   |   |      |    |   |   |
| Operating leases                              |   | $                                | 16,231    |   |   |   | 27,206  |   |   |   | 18,513  |   |   |      | 45,370  |   |   |   | 107,320 |   |
| Certificates of deposit (2)              |   |                             | 3,093,956 |   |   |   | 426,288 |   |   |   | 28,013  |   |   |      | 564     |   |   |   | 3,548,821 |   |
| Other borrowings (2)                          |   |                             | 219,082   |   |   |   | 220,676 |   |   |   | — |   |   |      | — |   |   |   | 439,758 |   |
| Subordinated debentures (2)                   |   |                             | —   |   |   |   | — |   |   |   | — |   |   |      | 353,866 |   |   |   | 353,866 |   |
| Preferred stock issued under the TARP (2) (3) |   |                             | —   |   |   |   | — |   |   |   | — |   |   |      | 310,170 |   |   |   | 310,170 |   |
| Other contractual obligations                 |   |                             | 786       | (4)    |   |   | 373     |   |   |   | 244     |   |   |      | 7       |   |   |   | 1,410 |   |
| Total                                         |   | $                                | 3,330,055 |   |   |   | 674,543 |   |   |   | 46,770  |   |   |      | 709,977 |   |   |   | 4,761,345 |   |

|   | ________________ |
|--------|------------------|
|   | (1)              | Amounts exclude FIN 48 unrecognized tax liabilities of $3.5 million and related accrued interest expense of $1.1 million for which the timing of payment of such liabilities cannot be reasonably estimated as of June 30, 2009. |
|   | (2)              | Amounts exclude the related interest expense and dividends accrued on these obligations as of June 30, 2009. As further described under “—Regulatory Matters,” we currently may not make any distributions of interest or other sums on our subordinated debentures and related underlying trust preferred securities withoutthe prior approval of the FRB. |
|   | (3)              | Amounts payable upon redemption of the Class C and Class D preferred stock issued under the TARP of $295.4 million and $14.8 million, respectively. |
|   | (4)              | Includes an accrued expense related to our remaining estimated indemnification obligation, as a member bank, to share certain litigation costs of Visa. |

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| 31.1 | Rule 13a-14(a) / 15d-14(a) Certifications of Chief Executive Officer – filed herewith. |
|------|----------------------------------------------------------------------------------------------|

| 31.2 | Rule 13a-14(a) / 15d-14(a) Certifications of Chief Financial Officer – filed herewith. |
|------|----------------------------------------------------------------------------------------------|

| 32.1 | Section 1350 Certifications of Chief Executive Officer – filed herewith. |
|------|--------------------------------------------------------------------------------|

| 32.2 | Section 1350 Certifications of Chief Financial Officer – filed herewith. |
|------|--------------------------------------------------------------------------------|

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SI

|   |  FIRST BANKS, INC. |                                              |
|--------|-------------------------|---------------------------------------------------|
|   |                    |                                              |   |
|   |                    |                                              |   |
|   |  By:               |   /s/ Terrance M. McCarthy                   |   |
|   |                    | Terrance M. McCarthy                              |   |
|   |                    | President and Chief Executive Officer             |   |
|   |                    | (Principal Executive Officer)                     |   |
|   |                    |                                              |   |
|   |                    |                                              |   |
|   |  By:               |   /s/ Lisa K. Vansickle                      |   |
|   |                    | Lisa K. Vansickle                                 |   |
|   |                    | Senior Vice President and Chief Financial Officer |   |
|   |                    | (Principal Financial and Accounting Officer)      |   |

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