In this study, the performance of analogue, digital and hybrid finite impulse response filter banks affected by coefficient errors, mismatches among sub-processors, and noise is investigated. A simple yet important class, the so-called time-interleaved filter bank, is also considered. Analytic models are derived to properly describe the impact of these imperfections on the filter bank performance. An estimator for the signal-to-noise ratio of these filter banks is advanced, from which comparisons are made among a large variety of structures. Computer simulations are carried out to verify the theory.