FIRST UNITED BANCSHARES INC /AR/
10-C, 1994-06-15
STATE COMMERCIAL BANKS
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<PAGE>   1

                       SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C.  20549


                                    FORM 10C


             REPORT FILED BY ISSUER OF SECURITIES QUOTED ON NASDAQ
                          INTERDEALER QUOTATION SYSTEM

                  Filed Pursuant to Section 13 or 15(d) of the
                Securities Exchange Act of 1934 and Rule 13a-17
                              or 15d-17 Thereunder


                          First United Bancshares, Inc.                   
                 (Exact name of Issuer as specified in charter)

            Main and Washington Streets - El Dorado, Arkansas  71730

                                 (501) 863-3181                            
                (Issuer's Telephone Number, Including Area Code)


I.       CHANGE IN NUMBER OF SHARES OUTSTANDING

         Indicate any change (increase or decrease) of five percent or more in
         the number of shares outstanding:

         1.      Title of security      Common Stock $1.00 Par Value Per Share

         2.      Number of Shares outstanding before the change   4,272,276

         3.      Number of shares outstanding after the change    5,157,799

         4.      Effective date of change                  June 14, 1994

         5.      Method of Change:
                          Specify method (such as merger, acquisition,
                          exchange, distribution, stock split, reverse split,
                          acquisition of stock for treasury, etc.)

                                    Merger

         Give brief description of transaction:

         On June 14, 1994 First United Bancshares, Inc. acquired, by merger,
         InvestArk Bankshares, Inc. issuing 885,523 shares of common stock,
         $1.00 par value to the shareholders of InvestArk Bankshares, Inc. in
         exchange for all of the issued and outstanding shares of InvestArk
         Bankshares, Inc.

Dated:  June 15, 1994


                                        /s/ John E. Burns 
                                        John E. Burns Vice
                                        President & Chief Financial Officer







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