UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
---------------------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
MAY 30, 1995
Date of Report (Date of earliest reported event)
FIRST COMMERCIAL CORPORATION
(Exact name of registrant as specified in its charter)
ARKANSAS 0 - 9676 71-0540166
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) file number) Identification Number)
400 WEST CAPITOL AVENUE, LITTLE ROCK, ARKANSAS 72201
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (501)371-7000
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Item 5. OTHER EVENTS
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Registrant issued a press release announcing that it had executed a letter
of intent to acquire FDH Bancshares, Inc. (FDH) and its subsidiaries, including
four banks in Arkansas and one in Louisiana. Frank D. Hickingbotham is the
sole shareholder of FDH Bancshares, Inc. The announcement was made in a press
release, a copy of which is attached hereto as Exhibit 99 and is incorporated
herein by reference.
FDH Bancshares, Inc., headquartered in Little Rock, owns four Arkansas
banks in Little Rock, El Dorado, Arkadelphia and Fordyce under the name
Citizens First Bank. Springhill Bank and Trust in Springhill, Louisiana, is
FDH's only holding outside the state of Arkansas. FDH has consolidated assets
of $382 million, loans of $215 million and deposits of $334 million.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
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(c) Exhibits
99 Press Release
Pursuant to the requirements of the Securities Exchange Act of 1934,
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FIRST COMMERCIAL CORPORATION
/s/ J. Lynn Wright
By: -------------------------------
J. Lynn Wright
Chief Financial Officer
(Principal Financial and Accounting
Officer)
Date: June 6, 1995
2
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Index to Exhibits
Exhibit Number Exhibit
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99 Press Release
3
NEWS RELEASE
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First Commercial Corporation
200 First Commercial Building
Little Rock, Arkansas 72203
For additional information contact:
Lynn Wright
Chief Financial Officer
(501)371-7142
NASDAQ Symbol "FCLR"
In Newspaper Stock Tables Generally "FTCmmcl" or "FstCommclCp"
Price as of May 26, 1995: Bid $25 1/8 Ask $25 1/2
FOR IMMEDIATE RELEASE
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FIRST COMMERCIAL ANNOUNCES AFFILIATION WITH FDH BANCSHARES
LITTLE ROCK, AR (May 30, 1995) - First Commercial Corporation (FCC), the
Arkansas-based bank holding company, announced today that it has executed a
letter of intent to acquire FDH Bancshares, Inc. (FDH) and its wholly owned
subsidiaries, including four banks in Arkansas and one in Louisiana. Frank D.
Hickingbotham is the sole shareholder of FDH Bancshares, Inc.
FDH Bancshares, Inc., headquartered in Little Rock, owns four Arkansas
banks in Little Rock, El Dorado, Arkadelphia and Fordyce under the name
Citizens First Bank. Springhill Bank and Trust in Springhill, Louisiana, is
FDH's only holding outside the state of Arkansas. FDH has consolidated assets
of $382 million, loans of $215 million and deposits of $334 million.
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FIRST COMMERCIAL CORPORATION
Page two of three
"The affiliation with FDH Bancshares, Inc. and its five banks presents an
excellent business and marketing opportunity for FCC," noted Barnett Grace,
chairman of the board and chief executive officer of First Commercial
Corporation. "Each bank has a strong market opportunity due to its community
involvement, reputation and competitive product offerings.
"This affiliation provides an outstanding vehicle for FCC's entry into new
geographic areas. We are always pleased to enter strong economic markets
through affiliations with established, respected and financially strong banks.
We believe that this partnership will benefit FDH, its customers and its
communities, as well as FCC. We are pleased to add the FDH bankers to our
affiliate family."
Grace noted that Frank D. Hickingbotham is a past member of FCC's Board of
Directors. "When we review affiliation opportunities we are always interested
in the strength of current ownership and management. Under Mr.
Hickingbotham's guidance, FDH has become a financially sound and desirable
organization. He contributed to FCC's success when he served on its Board, and
we look forward to welcoming him back to the FCC family as a result of this
affiliation."
(MORE)
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FIRST COMMERCIAL CORPORATION
Page three of three
"First Commercial Corporation has an established track record of
successful bank affiliations," stated Mr. Hickingbotham. "In virtually every
case, FCC ownership of a bank leads to expanded products and improved service
to customers due to the size and strength of the organization. The
possibility of having FCC's strength behind the FDH banks is an exciting
prospect for our customers and bankers.
"FCC is known throughout the region as an organization committed to
serving its customers and communities. This focus will blend nicely with the
FDH philosophy of providing its customers with quality products and quality
service by being an efficient, well-managed organization."
First Commercial Corporation is a $4.3 billion bank holding company with
twenty-one affiliate banks in Arkansas, Texas and Tennessee and a 50% interest
in a twenty-second bank in Oklahoma. FCC's non-bank subsidiaries include
First Commercial Mortgage Company, First Commercial Trust Company, N.A., First
Commercial Investments, Inc., First Commercial Capital Management and
Commercial Capital Funding, Inc.
