St. Louis, Missouri, June 4, 2007. Terrance M. McCarthy, President and Chief Executive Officer of First Banks, Inc. (“First Banks” or the “Company”), is pleased to announce the appointment of Robert S. Holmes as President and Chief Executive Officer of First Bank and Executive Vice President of First Banks effective June 25, 2007.
Mr. McCarthy said, “Bob brings a wealth of commercial banking experience to First Bank from his 20-year career with two outstanding commercial banks. In his role as President and Chief Executive Officer of First Bank, he will be strategically responsible for the growth and successful delivery of products and services for all business segments and CRA activities throughout the Company. In addition, as Executive Vice President of First Banks, he will have primary responsibility for all commercial related business lines, including Commercial Banking, Treasury Management, Small Business / Business Banking, and Small Business Loan Source LLC and First Bank Business Capital, Inc., two subsidiary companies of First Bank.”
Mr. Holmes began his banking career with the former Boatmen’s National Bank in St. Louis where he held various commercial banking positions over an 11-year period, including positions in the Metropolitan, Middle Market and Corporate Banking segments. In 1996, Mr. Holmes joined LaSalle Bank, N.A. in St. Louis, where he established a regional commercial loan office and subsequently expanded the region to include commercial banking activities in Kansas City, Kansas, and Denver, Colorado. He served as Senior Vice President and Region Head for LaSalle Bank, N.A. from September 1996 to March 2006, where he was responsible for overseeing the commercial banking operations in Missouri, Kansas and Colorado. In March 2006, Mr. Holmes was appointed Senior Vice President and Chief Administrative Officer for the Commercial Banking Division of LaSalle Bank, N.A., and relocated to Chicago, Illinois, where he was responsible for the development and execution of strategic growth initiatives for Commercial Banking in North America. In March 2007, Mr. Holmes was promoted to Group Senior Vice President of LaSalle Bank’s Regional Commercial Banking Operation.
Mr. Holmes, 43, received his Master of Business Administration from St. Louis University and his Bachelor of Science degree in Business Administration from the University of Missouri in Columbia. Mr. Holmes, a native of St. Louis, is active in numerous civic, charitable and social organizations. He will reside in the St. Louis area with his wife and three children.
First Banks is one of the largest family-owned bank holding companies in the United States, with headquarters in St. Louis County, Missouri. As of March 31, 2007, First Banks reported assets of $10.39 billion and currently operates 197 branch banking offices in California, Illinois, Missouri and Texas.
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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: 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 Report 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.