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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): February 10, 1998
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 December 31, 1997, First United Bancshares, Inc., El Dorado,
Arkansas ("First United"), acquired by merger all of the issued and outstanding
common stock of City Bank & Trust of Shreveport, Shreveport, Louisiana ("CBT"),
pursuant to the Agreement and Plan of Reorganization, dated June 18, 1997
("Agreement"), whereby First United acquired all of the outstanding shares of
common stock of CBT and satisfied unexercised stock options of CBT common stock
in exchange for the issuance of 424,880 shares of First United common stock. The
method of calculating the average sales price for determining fractional share
payments and exchange ratio for shares and options are fully described in First
United's Form S-4 Registration Statement under the Securities Act of 1933,
Registration No. 333-37281 as filed with the Securities and Exchange Commission
("SEC") on October 6, 1997, and Amendment No. 1 thereto filed on November 3,
1997, which became effective November 4, 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 January 14, 1998.
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 CBT 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 CBT and First United for the period ended
January 30, 1998.
FIRST UNITED BANCSHARES, INC.
SUMMARY DATA
MONTH ENDED JANUARY 30
<TABLE>
<CAPTION>
JANUARY 30, 1998 JANUARY 30, 1997
<S> <C> <C>
(thousands)
Total Assets 1,932,206 1,840,233
Total Loans 1,023,837 898,097
Total Deposits 1,624,091 1,571,103
Total Equity 198,074 179,238
Net Interest Income 11,938 11,163
Net Income 2,171 1,912
</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
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John E. Burns, Senior Vice President
and Chief Financial Officer
Date: February 10, 1998
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