May 2006

First Banks, Inc. (“First Banks”) has completed the acquisition of Universal Premium Acceptance Corporation and its affiliates (“UPAC”).

UPAC is an insurance premium finance company headquartered in Lenexa, KS, specializing in providing short-term collateralized financing to facilitate the purchase of insurance for commercial property, casualty and liability risk. UPAC is one of the top ten insurance premium finance companies in the United States. UPAC was founded in 1954 and operates in 49 states. At December 31, 2005, UPAC had assets of $146 million and stockholders’ equity of $17.3 million. www.upac.com

At March 31, 2006, First Banks reported consolidated assets of $9.4 billion and stockholders’ equity of $705.4 million. First Banks operates 182 banking offices in California, Illinois, Missouri and Texas. www.fbol.com