FIRST UNITED BANCSHARES INC /AR/
10-C, 1996-07-02
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      5,158,772
                                                       -------------------------

    3.   Number of shares outstanding after the change       7,738,109
                                                      --------------------------

    4.   Effective date of change                  June 28, 1996
                                 -----------------------------------------------

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

                 3-for-2 stock split in the form of a 50% stock dividend.
         -----------------------------------------------------------------------

    Give brief description of transaction:

    On May 20, 1996, the Board of Directors of First United declared a 3-for-2
    stock split effected in the form of a 50% stock dividend.  The dividend was
    distributed on June 28, 1996 to holders of record as of June 7, 1996.

Dated:  June 28, 1996

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


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