First Banks, Inc. Announces Completion of Acquisition of FBA Bancorp, Inc. and First Bank of the Americas, S.S.B

Business Wire, April 29, 2005

ST. LOUIS -- First Banks, Inc. (NASDAQ: FBNKN) (NASDAQ: FBNKM) (NYSE: FBSPRA) ("First Banks") and FBA Bancorp, Inc. ("FBA") jointly announce completion today of the previously announced acquisition of FBA and its wholly owned banking subsidiary, First Bank of the Americas, S.S.B. by First Banks for approximately $10.5 million in cash. FBA is headquartered in Chicago, Illinois, and through First Bank of the Americas, an Illinois savings bank, operates three banking offices in the southwestern Chicago metropolitan communities of Back of the Yards, Little Village and Cicero.

Allen H. Blake, President and Chief Executive Officer of First Banks, said, "We are pleased to welcome FBA's customers to First Banks. We are committed to continuing FBA's dedication to serving the financial needs of these rapidly growing communities in southwestern Chicago." Mr. Blake added, "First Banks brings an extended ATM and branch banking network to the existing branch network, offering an extensive array of financial services, including expanded commercial and consumer product lines, telephone and internet banking, mortgage banking, brokerage services and private banking and institutional money management services."

Terrance M. McCarthy, Senior Executive Vice President and Chief Operating Officer of First Banks, said, "The addition of FBA brings our Chicago banking operation to a total of 25 branch banking offices. While First Banks will provide an expanded level of financial services offered by a larger organization, we are highly committed to continuing in the footsteps of FBA, with a focus on providing the highest level of individual customer service in addition to involvement in the growth of the local communities."

Pamela S. Voss, President and Chief Executive Officer of FBA, said, "We have been pleased to have had an opportunity to develop and provide financial products to the Spanish-speaking residents on the southwest side of Chicago. Along with providing new products we have been able to return considerable profits to our stockholders."

At March 31, 2005, FBA reported consolidated assets of $73.2 million, loans, net of unearned discount, of $51.8 million, deposits of $54.8 million and stockholders' equity of $7.1 million. At March 31, 2005, First Banks reported consolidated assets of $8.60 billion, loans, net of unearned discount, of $6.16 billion, deposits of $7.05 billion and stockholders' equity of $605.2 million. Following completion of the acquisition, First Banks operates 170 branch banking offices in Missouri, Illinois, California and Texas.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about First Banks' plans, objectives, estimates or projections with respect to our future financial condition, expected or anticipated revenues with respect to our results of operations and our business, expectations and intentions and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of First Banks' management and are subject to significant risks and uncertainties which may cause actual results to differ materially from those contemplated in the forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: the risk the acquisition will not be integrated successfully; increased competition and its effect on pricing, spending, third-party relationships and revenues; and the risk of new and changing regulation. Additional factors which may cause First Banks' results to differ materially from those described in the forward-looking statements may be found in First Banks' most recent Annual Report on Form 10-K as filed with the Securities and Exchange Commission ("SEC") and available at the SEC's internet site (http://www.sec.gov). The forward-looking statements in this press release speak only as of the date of the press release, and First Banks does not assume any obligation to update the forward-looking statements or to update the reasons why actual results could differ from those contained in the forward-looking statements.