Attached files
| file | filename |
|---|---|
| EX-4 - EXHIBIT 4.1 - FIRST BANKS, INC | fbiex41012711.htm |
| EX-4 - EXHIBIT 4.3 - FIRST BANKS, INC | fbiex43012711.htm |
| EX-4 - EXHIBIT 4.2 - FIRST BANKS, INC | fbiex42012711.htm |
| 8-K - FORM 8-K - FIRST BANKS, INC | fbi8k012711.htm |
Exhibit 99.1
FIRST BANKS, INC.
ST. LOUIS, MISSOURI
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NEWS RELEASE
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Contacts:
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Terrance M. McCarthy
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Lisa K. Vansickle
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President and
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Executive Vice President and
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Chief Executive Officer
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Chief Financial Officer
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First Banks, Inc.
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First Banks, Inc.
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(314) 854-4600
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(314) 854-4600
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Traded:
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NYSE – (CUSIP 33610A209)
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Symbol:
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FBSPrA – (First Preferred Capital Trust IV, an affiliated trust of First Banks, Inc.)
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FOR IMMEDIATE RELEASE:
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First Banks, Inc. Extends Deadline to Submit Consent
in the Consent Solicitation of First Preferred Capital Trust IV
St. Louis, Missouri, January 21, 2011. First Banks, Inc. (the “Company”), the holder of 100% of the outstanding common stock of First Preferred Capital Trust IV (NYSE “FBSPrA”) (the “Trust”), announced today that it has extended its consent solicitation relating to the Trust and amendments to: (a) the Indenture, dated April 1, 2003, relating to the 8.15% Subordinated Debentures due 2033 issued by the Company to the Trust; (b) the Amended and Restated Trust Agreement, dated April 1, 2003, relating to the Trust; and (c) the Preferred Securities Guarantee, dated April 1, 2003, relating to the 8.15% cumulative trust preferred securities of the Trust. The consent solicitation commenced on October 15, 2010 and is extended until February 4, 2011.
The consent solicitation was initially scheduled to expire on November 19, 2010, 5:00 p.m. New York City time, was previously extended until January 21, 2011, 5:00 p.m. New York City time, and has been extended again until February 4, 2011, 5:00 p.m. New York City time in order to give the holders of the Trust’s trust preferred securities adequate time and opportunity to evaluate the proposed amendments and submit their response. As of the time of this release, holders of approximately 48% of the outstanding trust preferred securities of the Trust have approved the consent. In order to become effective, the amendments must be approved through the consent of the holders of a majority of the outstanding trust preferred securities of the Trust. Terrance M. McCarthy, President and Chief Executive Officer of the Company, said, “We are pleased that many holders continue to turn their attention to the proposed amendments, which we believe provide an important opportunity to improve the capital position of the Company. In order to ensure that all holders have adequate time to carefully consider the proposed amendments and to provide a response, we believe that a second extension to the solicitation period is warranted. We thank all holders for their support of the Company’s efforts to improve its capital position and encourage any holder who has not responded to the solicitation to do so.”
About First Banks
First Banks had assets of $7.89 billion at September 30, 2010 and currently operates 154 branch banking offices in California, Florida, Illinois and Missouri. Through its subsidiary bank, First Bank, the Company offers a broad range of financial products and services to consumers, businesses and other institutions. Visit First Banks on the web at www.firstbanks.com.
Important Additional Information
In connection with the consent solicitation, on October 18, 2010, the Company filed a Consent Solicitation Statement, dated October 15, 2010, with the U.S. Securities and Exchange Commission (the “SEC”) as Exhibit 99.1 to a Current Report on Form 8-K, and on October 18, 2010, mailed the Consent Solicitation Statement and Letter of Consent to each holder entitled to consent to the proposed amendments. Holders are urged to read the Consent Solicitation Statement, the Letter of Consent and any supplements or other relevant documents when they become available because they contain important information. The Consent Solicitation Statement, supplements and other documents (when available) may be obtained free of charge from the SEC’s website at http://www.sec.gov. These documents may also be obtained free of charge from the D.F. King & Co., Inc., 48 Wall Street, 22nd Floor, New York, NY 10005 (Banks and Brokerage Firms, Please Call: (212) 269-5550; All Others Call Toll-free: (800) 290-6426).
The Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies in connection with the consent solicitation. Information regarding the interests of the directors and executive officers of the Company in the solicitation is more specifically set forth in the Consent Solicitation Statement.