First Banks, Inc. Announces Completion of Acquisition of International Bank of California.

ST. LOUIS -- First Banks, Inc. (NASDAQ:FBNKM) (NYSE:FBSPRA) ("First Banks") and International Bank of California ("IBOC") jointly announce completion on September 30, 2005 of the previously announced acquisition of IBOC by First Banks.

Allen H. Blake, President and Chief Executive Officer of First Banks, said, "We are pleased to welcome the customers of IBOC to First Banks, and, together with IBOC's employees, we are committed to continuing IBOC's dedication to providing the highest level of service to our customers." Mr. Blake added, "Our combined banking network of 37 banking offices in Southern California will provide our new customers with an expanded ATM and branch banking network that offers an extensive array of financial products and services."

Terrance M. McCarthy, Senior Executive Vice President and Chief Operating Officer of First Banks, said, "With our expanded presence in Southern California, we will continue our focus on involvement in the local communities." Mr. McCarthy added, "First Banks will offer the customers of IBOC an extensive line of consumer and commercial loan and deposit product lines in addition to other financial services, including telephone and internet banking, debit cards, mortgage banking, small business lending, brokerage services, and trust, private banking and institutional money management services."

Frank C.L. Tu, President and Chief Executive Officer of IBOC, said, "Based on First Banks' strong background and leadership, they can definitely provide an array of banking products and enhanced services to IBOC's customers. I believe that First Banks will be one of our good neighbors in the California Asian Community in the future."

First Banks' acquisition of IBOC provides six additional banking offices in Los Angeles, California, including one branch in downtown Los Angeles, four branches in eastern Los Angeles County, in Alhambra, Arcadia, Artesia and Rowland Heights and one branch west of downtown Los Angeles, as well as one banking office in downtown San Francisco, California. At June 30, 2005, IBOC reported assets of $158.9 million, loans, net of unearned discount, of $118.9 million, deposits of $139.3 million and stockholders' equity of $18.3 million.

At June 30, 2005, First Banks reported assets of $8.78 billion, loans, net of unearned discount, of $6.31 billion, deposits of $7.21 billion and stockholders' equity of $643.2 million. Following completion of the acquisition, First Banks now operates 177 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 and subsequent Quarterly Reports on Form 10-Q, 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.