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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
Date of Report (Date of earliest event reported): October 7, 1997
FIRST UNITED BANCSHARES, INC.
(Exact name of registrant as specified in its charter)
ARKANSAS 0-11916 71-0538646
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification Number)
MAIN AND WASHINGTON STREETS, EL DORADO, ARKANSAS 71730
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (870) 863-3181
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ITEM 5. OTHER EVENTS.
On September 2, 1997, First United Bancshares, Inc., El Dorado,
Arkansas ("First United"), acquired by merger which became effective on
September 3, 1997 all of the issued and outstanding common stock of Fredonia
Bancshares, Inc., Nacogdoches, Texas ("Fredonia"), pursuant to the Agreement
and Plan of Reorganization, dated April 25, 1997 ("Agreement"), whereby First
United acquired 472,342 shares of common stock of Fredonia in exchange for the
issuance of 1,599,807 shares of First United common stock and satisfied
unexercised stock options of Fredonia common stock by issuing an additional
5,876 shares of First United common stock. The method of calculating the
average sales price for determining fractional share payments and exchange
ratio for options are fully described in First United's Form S-4 Registration
Statement under the Securities Act of 1933, Registration No. 333-30007 as filed
with the Securities and Exchange Commission ("SEC") on June 25, 1997, and which
became effective July 18, 1997. Furthermore, additional information regarding
the consummation of the transaction can be found in the current report on Form
8-K filed by First United on September 16, 1997.
The transaction was accounted for using the pooling of interest method
and therefore certain trading restrictions were placed on the shares of common
stock of First United held by affiliates of Fredonia received pursuant to the
Agreement, said restrictions to be in place until the publication of certain
financial data regarding 30 day post-merger combined operations of the
constituent corporations. The following is a disclosure of the summary
financial data of the combined operations of Fredonia and First United for the
period ended October 3, 1997.
FIRST UNITED BANCSHARES, INC.
SUMMARY DATA
MONTH ENDED OCTOBER 3
<TABLE>
<CAPTION>
OCTOBER 3, 1997 OCTOBER 3, 1996
--------------- ---------------
<S> <C> <C>
(thousands)
Total Assets 1,842,653 1,758,273
Total Loans 934,990 841,782
Total Deposits 1,563,790 1,508,896
Total Equity 184,950 165,986
Net Interest Income 6,131 5,537
Net Income 2,049 1,870
</TABLE>
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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, thereunto duly authorized.
FIRST UNITED BANCSHARES, INC.
(REGISTRANT)
By /s/ John E. Burns
-------------------------------------
John E. Burns, Vice President and
Chief Financial Officer
Date: October 7, 1997
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