<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) December 17, 1993
FIRST UNITED BANCSHARES, INC.
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C> <C>
Arkansas 0-11916 0538646
-------- ------- -------
State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
</TABLE>
Main and Washington Streets, El Dorado, Arkansas 71730
(Address of principal executive offices)
Registrant's telephone number, including area code: (501) 863-3181
<PAGE> 2
ITEM 5. OTHER EVENTS
On December 17, 1993, First United Bancshares, Inc., El Dorado, Arkansas
("First United") and InvestArk Bankshares, Inc., Stuttgart, Arkansas
("InvestArk") entered into an Agreement and Plan of Reorganization whereby
First United has agreed to acquire one hundred percent (100%) of the issued and
outstanding shares of common stock of InvestArk in exchange for total
consideration of $26,125,000 consisting of fully paid and nonassessable shares
of voting common stock, $1.00 par value of First United. The number of shares
of common stock of First United to be exchanged will be determined by dividing
$26,125,000 by the average sales price per share of First United's common stock
for all trades occurring during the period of ten (10) trading days on which
one or more trades actually takes place and which ends immediately prior to the
second trading day preceding the closing date. Notwithstanding the foregoing,
the number of shares of First United common stock to be exchanged shall not be
less than 885,593 and shall not be greater than 985,849. Fractional shares of
First United common stock shall not be issued. The closing date is expected to
be prior to May 30, 1994, but may be extended by the mutual consent of the
parties.
InvestArk is a multi-bank holding company incorporated and organized under
the laws of the State of Arkansas with two bank subsidiaries, First Stuttgart
Bank & Trust Company, Stuttgart, Arkansas and The Bank of North Arkansas,
Melbourne, Arkansas. InvestArk has roughly $194 million in assets and with the
InvestArk acquisition First United will have assets of approximately $1.1
billion. Consummation of the Agreement and Plan of Reorganization is subject to
approval by the appropriate bank regulatory authorities.
<PAGE> 3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
First United Bancshares, Inc.
(Registrant)
Date: January 5, 1994 /s/ John E. Burns
John E. Burns
Vice President
and Chief Financial Officer
