FIRST UNITED BANCSHARES INC /AR/
13F-HR, 1999-08-16
STATE COMMERCIAL BANKS
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                              UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                    Form 13F

                              Form 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: June 30, 1999

Check here if Amendment [  ]; Amendment Number:
This Amendment (Check only one.): [  ] is a restatement.
                                  [  ] adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:    First United Bancshares, Inc.
Address: Main & Washington Streets

         El Dorado, AR  71730

13F File Number:  28-2721

The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.

Person Signing this Report on Behalf of Reporting Manager:

Name:      Cindy Alphin
Title:     Assistant Vice President
Phone:     870-863-3181

Signature, Place, and Date of Signing:

     Cindy Alphin     El Dorado, AR     August 16, 1999


Report Type (Check only one.):

[  ]         13F HOLDINGS REPORT.

[  ]         13F NOTICE.

[ X]         13F COMBINATION REPORT.


List of Other Managers Reporting for this Manager:

       Form 13F File Number          Name

       28-5984                       First United Trust Co., N.A.

I AM SIGNING THIS REPORT AS REQUIRED BY THE THE SECURITIES EXCHANGE
ACT OF 1934.
<PAGE>

                              FORM 13F SUMMARY PAGE


Report Summary:

Number of Other Included Managers:         1

Form13F Information Table Entry Total:     523

Form13F Information Table Value Total:     236043


List of Other Included Managers:

List of Other Managers Reporting for this Manager:

Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional managers with respect to which this report is filled, other
than the manager filing this report.

No.  13F File Number               Name


01   28-5984                       First United Trust Co., N.A.
<PAGE>



<TABLE>                     <C>                 <C>
                                                     FORM 13F INFORMATION TABLE
                            TITLE
                            OF                               VALUE  SHARES/ SH/ PUT/ INVSTMT OTHER             VOTING AUTHORITY
NAME OF ISSUER              CLASS               CUSIP     (x$1000)  PRN AMT PRN CALL DSCRETN MANAGERS         SOLE   SHARED     NONE
- ------------------------------------------------------------------------------------------------------------------------------------
3COM CORP                   COM                 885535104        2      100 SH       SOLE    01                100        0        0
3COM CORP                   COM                 885535104       23      875 SH       DEFINED 01                875        0        0
3COM CORP                   COM                 885535104        2      100 SH       SOLE                      100        0        0
ABBOTT LABS                 COM                 002824100      805    17750 SH       SOLE    01              17250      300      200
ABBOTT LABS                 COM                 002824100       54     1200 SH       DEFINED 01               1200        0        0
ABBOTT LABS                 COM                 002824100      154     3400 SH       SOLE                     3400        0        0
ABBOTT LABS                 COM                 002824100      194     4288 SH       DEFINED                     0     4288        0
ADAMS EXPRESS CO            COM                 006212104      295    10161 SH       SOLE                    10161        0        0
AETNA LIFE AND CASUALTY     COMPANY             008117103       17      200 SH       DEFINED 01                200        0        0
AIR PRODS & CHEMS INC       COM                 009158106       16      400 SH       DEFINED 01                400        0        0
AIRTOUCH COMMUNICATNS       COM                 00949T100       20      188 SH       SOLE                      134       54        0
ALLEGHENY ENERGY INC        COM                 017361106       19      600 SH       DEFINED                   600        0        0
ALLEGHENY ENERGY INC        COM                 017361106        6      200 SH       SOLE                      200        0        0
ALLIEDSIGNAL INC            COM                 019512102      252     4000 SH       SOLE    01               4000        0        0
ALLIEDSIGNAL INC            COM                 019512102       15      250 SH       SOLE                      250        0        0
ALLSTATE CORP               COM                 020002101       58     1626 SH       SOLE    01               1626        0        0
ALLSTATE CORP               COM                 020002101        7      200 SH       DEFINED 01                  0        0      200
ALLSTATE CORP                                   020002101       12      350 SH       SOLE                      233      117        0
ALLTEL CORP                 COM                 020039103      203     2850 SH       SOLE    01               2850        0        0
ALLTEL CORP                 COM                 020039103       53      750 SH       SOLE                      450      200      100
ALLTEL CORP                 COM                 020039103      816    11415 SH       DEFINED                 11415        0        0
AMEREN CORP                 COM                 023608102       23      600 SH       SOLE    01                600        0        0
AMEREN CORP                 COM                 023608102        7      206 SH       SOLE                      206        0        0
AMERICA ONLINE INC DEL      COM                 02364J104       11      100 SH       SOLE    01                100        0        0
AMERICAN ELEC PWR INC       COM                 025537101        9      250 SH       DEFINED                   250        0        0
AMERICAN EXPRESS CO         COM                 025816109       39      300 SH       SOLE    01                300        0        0
AMERICAN EXPRESS CO         COM                 025816109       13      100 SH       SOLE                      100        0        0
AMERICAN HOME PRODS CORP    COM                 026609107       22      400 SH       SOLE                      400        0        0
AMERICAN HOME PRODS CORP    COM                 026609107      149     2600 SH       DEFINED 01               2600        0        0
AMERICAN HOME PRODS CORP    COM                 026609107      378     6600 SH       SOLE    01               6600        0        0
AMERICAN HOMEPATIENT INC                        026649103       35    22450 SH       SOLE    01              22450        0        0
AMERICAN INTL PETROLEUM CORPCOM PAR $0.08N      026909408        5     5000 SH       SOLE    01               5000        0        0
AMERICAN WTR WKS INC        COM                 030411102        6      200 SH       SOLE    01                200        0        0
AMERITECH CORP NEW          COM                 030954101       29      400 SH       DEFINED 01                400        0        0
AMERITECH CORP NEW          COM                 030954101       85     1160 SH       SOLE    01               1160        0        0
AMERITECH CORP NEW          COM                 030954101      325     4428 SH       SOLE                     4266      162        0
ANHEUSER BUSCH COS INC      COM                 035229103     1011    14260 SH       SOLE    01              14000        0      260
ANHEUSER BUSCH COS INC      COM                 035229103      769    10845 SH       SOLE                    10845        0        0
ANHEUSER BUSCH COS INC      COM                 035229103      127     1800 SH       DEFINED 01               1600        0      200
APPLE COMPUTER INC          COM                 037833100       50     1100 SH       DEFINED                     0     1100        0
AR PETROLEUM COMMON                             0409009A2        6       20 SH       DEFINED                     0        0       20
AR RIVER PETROL COMM                            0410399A8        3       36 SH       DEFINED                     0        0       36
AR SERVICE COMMON                               0410389A0        2       20 SH       DEFINED                     0        0       20
ARCH CHEMICALS INC COM                          03937R102        9      404 SH       SOLE                        0      404        0
ARCHER-DANIELS-MIDLAND COMPANY                  039483102        3      242 SH       SOLE    01                242        0        0
ARK BUTANE COMMON                               0247959A6        4       18 SH       DEFINED                     0        0       18
ASSOCIATES FIRST CAP CORP    CL A FROM FORD MTR 046008108       83     1900 SH       SOLE    01               1900        0        0
ASSOCIATES FIRST CAP CORP   CL A                046008108       76     1726 SH       SOLE                     1726        0        0
AT&T CORP                   COM                 001957109      614    11006 SH       SOLE                    10756      250        0
AT&T CORP                   COM                 001957109        8      150 SH       DEFINED                   150        0        0
AT&T CORP                   COM                 001957109        2       50 SH       DEFINED 01                 50        0        0
AT&T CORP                   COM                 001957109     1042    18675 SH       SOLE    01              18575      100        0
ATLANTIC RICHFIELD CO       COM                 048825103       33      400 SH       SOLE    01                400        0        0
ATLANTIC RICHFIELD CO       COM                 048825103      203     2440 SH       SOLE                     2440        0        0
AUTOLIV INC                 COM                 052800109        3      102 SH       SOLE    01                102        0        0
AUTOMATIC DATA PROCESSING INCOM                 053015103       35      800 SH       SOLE    01                800        0        0
AVON PRODUCTS INC           COM                 054303102       38      700 SH       SOLE    01                700        0        0
AVON PRODUCTS INC           COM                 054303102      111     2000 SH       DEFINED                     0        0     2000
B. F. GOODRICH                                  382388106       17      400 SH       DEFINED 01                400        0        0
BANK AMER CORP              COM                 06605F102        9      132 SH       DEFINED 01                132        0        0
BANK AMER CORP              COM                 06605F102       82     1204 SH       SOLE    01               1204        0        0
BANK AMERICAN CORP                              060505104      820    11188 SH       SOLE                    11188        0        0
BANK AMERICAN CORP                              060505104      191     2610 SH       DEFINED                  2610        0        0
BANK OF THE OZARKS, INC                         063904106      431    23800 SH       DEFINED                     0    23800        0
BANK ONE CORP               COM                 06423A103      144     2420 SH       SOLE    01               2420        0        0
BANK ONE CORP               FORMERLY BANC ONE   06423A103       88     1482 SH       DEFINED                     0     1482        0
BANKBOSTON CORP             COM                 06605R106       10      200 SH       SOLE                      200        0        0
BARCLAYS BANK PFD 11.25%                        06738C505       52     2000 SH       SOLE    01               2000        0        0
BAXTER INTERNATIONAL INC                        071813109       72     1200 SH       SOLE    01               1200        0        0
BECKMAN COULTER INC COM                         075811109       14      300 SH       SOLE    01                300        0        0
BELL ATLANTIC CORP          COM                 077853109       26      400 SH       DEFINED 01                400        0        0
BELL ATLANTIC CORP          COM                 077853109      490     7498 SH       SOLE    01               7498        0        0
BELL ATLANTIC CORP          COM                 077853109      159     2442 SH       SOLE                     1648      194      600
BELLSOUTH CORP              COM                 079860102      241     5240 SH       SOLE    01               5240        0        0
BELLSOUTH CORP              COM                 079860102      290     6308 SH       SOLE                     6062      246        0
BELLSOUTH CORP              COM                 079860102        9      200 SH       DEFINED                   200        0        0
BELO A H CORP DEL           COM SER A           080555105        3      200 SH       SOLE    01                200        0        0
BESTFOODS                   COM                 08658U101       24      500 SH       SOLE    01                500        0        0
BETHLEHEM STL CORP          PFD CV $2.50        087509402       29     1100 SH       SOLE    01               1100        0        0
BOEING CO                   COM                 097023105      288     6560 SH       SOLE    01               6560        0        0
BOEING CO                   COM                 097023105       13      300 SH       DEFINED 01                300        0        0
BOEING CO                   COM                 097023105      169     3850 SH       SOLE                     3850        0        0
BOISE CASCADE CORP          COM                 097383103       21      500 SH       SOLE    01                500        0        0
BP AMOCO P L C              SPONSORED ADR       055622104       50      463 SH       DEFINED                   463        0        0
BP AMOCO P L C              SPONSORED ADR       055622104     2315    21338 SH       SOLE                    21338        0        0
BRISTOL MYERS SQUIBB CO     COM                 110122108      478     6800 SH       SOLE    01               6800        0        0
BRISTOL MYERS SQUIBB CO     COM                 110122108      197     2800 SH       DEFINED 01               2800        0        0
BRISTOL-MEYERS SQUIBB                           110122108      392     5568 SH       DEFINED                  5568        0        0
BRISTOL-MEYERS SQUIBB                           110122108     1324    18800 SH       SOLE                    11888     6912        0
BROWNING FERRIS INDS        COM                 115885105       12      300 SH       SOLE    01                300        0        0
BRUNOS INC                                      116881202        0        8 SH       SOLE                        8        0        0
BURLINGTON NORTHERN/SANTA FE CORP               12189T104       28      930 SH       SOLE    01                930        0        0
CABLETRON SYS INC           COM                 126920107        2      200 SH       SOLE                      200        0        0
CADBURY SCHWEPPES PLC       ADR                 127209302       31     1200 SH       SOLE    01               1200        0        0
CADE INDUSTRIES INC                             127382109        2     1000 SH       SOLE                     1000        0        0
CALLAWAY GOLF CO            COM                 131193104        2      200 SH       SOLE    01                200        0        0
CAMPBELL SOUP CO            COM                 134429109       32      700 SH       SOLE    01                700        0        0
CAMPO ELECTRS APPLANCES&COMPCOM                 134624105        0     1000 SH       SOLE    01               1000        0        0
CAPITAL ONE FINANCIAL       COM                 14040H105      267     4800 SH       SOLE    01               4800        0        0
CARDINAL HEALTH INC         COM                 14149Y108       19      298 SH       SOLE    01                298        0        0
CAROLINA PWR & LT CO        COM                 144141108        8      200 SH       DEFINED                     0        0      200
CATELLUS DEV CORP           COM                 149111106        2      181 SH       SOLE    01                181        0        0
CATERPILLAR INC DEL         COM                 149123101       33      550 SH       SOLE    01                550        0        0
CATERPILLAR INC DEL         COM                 149123101      252     4200 SH       SOLE                     4200        0        0
CBS CORP                    COM                 12490K107       34      800 SH       SOLE                      800        0        0
CELLSTAR CORP               COM                 150925105        9     1200 SH       SOLE                        0     1200        0
CENTRAL & SOUTH WEST CORP   COM                 152357109        7      300 SH       DEFINED 01                300        0        0
CENTRAL & SOUTH WEST CORP   COM                 152357109      250    10700 SH       SOLE    01              10700        0        0
CENTRAL & SOUTH WEST CORP   COM                 152357109       58     2500 SH       SOLE                     2500        0        0
CENTURYTEL INC              COM                 156700106      194     4902 SH       SOLE                        0     4902        0
CHAMPION INTL CORP          COM                 158525105       11      250 SH       SOLE    01                250        0        0
CHAMPION INTL CORP          COM                 158525105       10      225 SH       SOLE                      225        0        0
CHASE MANHATTAN BANK                            16161A108       86     1000 SH       SOLE    01               1000        0        0
CHEVRON CORPORATION         COM                 166751107       47      500 SH       DEFINED 01                500        0        0
CHEVRON CORPORATION         COM                 166751107      849     8933 SH       SOLE    01               8933        0        0
CHEVRON CORPORATION         COM                 166751107      361     3804 SH       SOLE                     3604        0      200
CHUBB CORP                  COM                 171232101       24      350 SH       SOLE    01                350        0        0
CIFRA S A DE C V            ADR                 171785207        8     4633 SH       SOLE                     4633        0        0
CISCO SYS INC               COM                 17275R102      128     2000 SH       SOLE                     2000        0        0
CISCO SYS INC               COM                 17275R102       32      500 SH       DEFINED 01                500        0        0
CISCO SYS INC               COM                 17275R102       12      200 SH       DEFINED                   200        0        0
CISCO SYS INC               COM                 17275R102      847    13150 SH       SOLE    01              12900      250        0
CITIGROUP INC               COM                 172967101      106     2233 SH       SOLE    01               2233        0        0
CITIGROUP INC               COM                 172967101      202     4269 SH       SOLE                     4269        0        0
CITIGROUP INC               COM                 172967101      480    10125 SH       DEFINED 01              10125        0        0
CLECO CORP AKA CENTRAL LA ELECT                 12561M107       18      600 SH       SOLE    01                600        0        0
CLECO CORP COM NAME CHG     FROM CENTRAL LA ELEC12561M107        6      200 SH       DEFINED                   200        0        0
COCA COLA CO                COM                 191216100     2265    36545 SH       SOLE    01              34850     1000      695
COCA COLA CO                COM                 191216100      378     6100 SH       DEFINED 01               6050        0       50
COCA COLA CO                COM                 191216100      271     4374 SH       SOLE                     3374        0     1000
COCA COLA ENTERPRISES INC   COM                 191219104       71     2400 SH       SOLE    01               2400        0        0
COLGATE PALMOLIVE CO        COM                 194162103       29      300 SH       SOLE    01                300        0        0
COLGATE PALMOLIVE CO        COM                 194162103        9      100 SH       DEFINED 01                100        0        0
COLGATE PALMOLIVE CO        COM                 194162103      418     4250 SH       SOLE                     4250        0        0
COLUMBIA GAS SYSTEM, INC                        197648108        1       16 SH       SOLE                       16        0        0
COLUMBIA/HCA HEALTHCARE CORPCOM                 197677107       28     1250 SH       DEFINED                     0     1250        0
COMPAQ COMPUTER CORP        COM                 204493100       65     2750 SH       SOLE                     2750        0        0
COMPAQ COMPUTER CORP        COM                 204493100      249    10550 SH       SOLE    01              10550        0        0
COMPUTER ASSOC INTL INC     COM                 204912109       36      675 SH       SOLE    01                675        0        0
COMPUTER SCIENCES CORP                          205363104        6       99 SH       DEFINED 01                 99        0        0
CONAGRA CAP L C             PFD SER A 9%        20588V208       50     2000 SH       SOLE    01               2000        0        0
CONAGRA INC                 COM                 205887102        5      200 SH       DEFINED                   200        0        0
CONAGRA INC                 COM                 205887102       29     1100 SH       SOLE                     1100        0        0
CONAGRA INC                 COM                 205887102       21      800 SH       SOLE    01                800        0        0
CONECTIV INC                COM                 206829103       16      675 SH       SOLE                      675        0        0
CONOCO INC                  CL A                208251306        2      100 SH       SOLE                      100        0        0
CONSECO INC                 COM                 208464107       17      560 SH       DEFINED 01                560        0        0
CONSOLIDATED EDISON INC COM                     209115104       46     1028 SH       SOLE                      400        0      628
CONSTELLATION ENERGY CORP                       210371100       11      400 SH       DEFINED                   400        0        0
COOPER INDS INC             COM                 216669101       20      400 SH       SOLE                      400        0        0
COOPER TIRE & RUBR CO       COM                 216831107        2      100 SH       DEFINED 01                100        0        0
CORN PRODS INTL INC         COM                 219023108        1       62 SH       SOLE    01                 62        0        0
CORNING INC                 COM                 219350105       34      485 SH       SOLE    01                485        0        0
COVANCE INC                 COM                 222816100        2      121 SH       SOLE    01                121        0        0
CRESCENT OPER INC           COM                 22575M100        0       60 SH       SOLE    01                 60        0        0
CRESCENT REAL ESTATE EQUITIECOM                 225756105       14      600 SH       SOLE    01                600        0        0
CROWN CORK & SEAL INC       COM                 228255105        9      350 SH       SOLE                      350        0        0
CSX CORP                    COM                 126408103       27      600 SH       SOLE                      600        0        0
DAYTON HUDSON CORP          COM                 239753106       13      200 SH       SOLE    01                200        0        0
DELL COMPUTER CORP          COM                 247025109       29      800 SH       SOLE                      800        0        0
DELL COMPUTER CORP          COM                 247025109      350     9485 SH       SOLE    01               9485        0        0
DELL COMPUTER CORP          COM                 247025109       29      800 SH       DEFINED                     0        0      800
DELL COMPUTER CORP          COM                 247025109       22      600 SH       DEFINED 01                600        0        0
DELPHI AUTOMOTIVE SYS       COM                 247126105        9      488 SH       SOLE                      442       46        0
DELPHI AUTOMOTIVE SYS       COM                 247126105       21     1144 SH       SOLE    01               1144        0        0
DELTIC TIMBER CORP                              247850100       35     1300 SH       SOLE    01               1300        0        0
DELTIC TIMBER CORP                              247850100       13      500 SH       DEFINED 01                500        0        0
DELTIC TIMBER INC                               247850100      551    20476 SH       SOLE                    20476        0        0
DELTIC TIMBER INC                               247850100    17391   645814 SH       DEFINED                     0   645386      428
DEVRY INC DEL               COM                 251893103       63     2839 SH       SOLE                     2839        0        0
DIAMOND OFFSHORE DRILLING   INC                 25271C102        1       50 SH       SOLE                       50        0        0
DII GROUP INC               COM                 232949107        5      160 SH       SOLE                      160        0        0
DILLARD DEPT STORES INC     CL A                254067101        3      102 SH       SOLE                      102        0        0
DISNEY WALT COMPANY         COM                 254687106        6      200 SH       DEFINED                   200        0        0
DOMINION RES INC VA         COM                 257470104       51     1180 SH       SOLE                        0        0     1180
DOMINION RES INC VA         COM                 257470104        4       99 SH       DEFINED                     0        0       99
DOVER CORP                  COM                 260003108      112     3200 SH       SOLE                     3200        0        0
DPL INC                     COM                 233293109       44     2385 SH       SOLE                      900        0     1485
DPL INC                     COM                 233293109        5      300 SH       DEFINED                   300        0        0
DU PONT E I DE NEMOURS & CO COM                 263534109       77     1140 SH       SOLE                     1140        0        0
DUKE ENERGY CORP            COM                 264399106       52      970 SH       SOLE                        0        0      970
DUKE ENERGY CORP            COM                 264399106        5      100 SH       DEFINED                   100        0        0
DURAMED PHARMACEUTICALS                         266354109        4      300 SH       SOLE                      300        0        0
DYNEX CAP INC               CHG RES MTG CAP INC 26817Q100        0      422 SH       SOLE                      422        0        0
EARTHGRAINS COMPANY         COM                 270319106      202     7832 SH       SOLE                     7832        0        0
EASTMAN CHEMICAL COMPANY                        277432100        2       50 SH       SOLE    01                 50        0        0
EASTMAN KODAK CO            COM                 277461109       48      710 SH       SOLE    01                710        0        0
EATON CORP                  COM                 278058102        9      100 SH       DEFINED                   100        0        0
EATON CORP                  COM                 278058102       59      650 SH       SOLE                      650        0        0
EATON CORP                  COM                 278058102      110     1200 SH       SOLE    01               1200        0        0
EEX CORP                    COM NEW             26842V207        0       66 SH       SOLE                       66        0        0
EMERSON ELEC CO             COM                 291011104       62     1000 SH       SOLE                     1000        0        0
EMERSON ELEC CO             COM                 291011104       25      400 SH       SOLE    01                400        0        0
ENCORE WIRE CORP            COM                 292562105      170    18774 SH       SOLE    01              18774        0        0
ENGELHARD CORP              COM                 292845104        5      253 SH       DEFINED                     0      253        0
ENTERGY 65 SERIES PRD 4.56%                     29364D407        1       18 SH       SOLE                       18        0        0
ENTERGY ARK INC PFD $6.08                       29364D605        5       60 SH       SOLE                       60        0        0
ENTERGY ARK INC PFD $7.32                       29364D704       23      229 SH       SOLE                      229        0        0
ENTERGY ARK INC PFD $7.40                       29364D829        9       90 SH       SOLE                       90        0        0
ENTERGY ARK INC PFD $7.80                       29364D803       10      100 SH       SOLE                      100        0        0
ENTERGY ARK INC PFD $7.88                       29364D852       15      145 SH       SOLE                      145        0        0
ENTERGY CORP NEW            COM                 29364G103       18      593 SH       DEFINED 01                593        0        0
ENTERGY CORP NEW            COM                 29364G103      107     3453 SH       SOLE    01               3453        0        0
ENTERGY CORP NEW            COM                 29364G103       67     2145 SH       SOLE                     2145        0        0
ETHAN ALLEN INTERIORS                           297602104        8      225 SH       DEFINED                   225        0        0
EXXON CORP                  COM                 302290101     1433    18590 SH       SOLE    01              18590        0        0
EXXON CORP                  COM                 302290101      196     2550 SH       DEFINED 01               2550        0        0
EXXON CORP                  COM                 302290101      627     8140 SH       DEFINED                  3740     4400        0
EXXON CORP                  COM                 302290101     3026    39239 SH       SOLE                    37735     1104      400
FDX CORP                    COM                 31304N107       10      200 SH       SOLE    01                200        0        0
FEDERAL NATL MTG ASSN       COM                 313586109       20      300 SH       SOLE    01                300        0        0
FEDERAL REALTY INVT TR      SH BEN INT NEW      313747206       15      685 SH       SOLE                        0        0      685
FEDERATED DEPT STORES       COM                 31410H101       25      475 SH       SOLE    01                475        0        0
FEDERATED HIGH YIELD TR     SH BEN INT          314197104      569    65083 SH       SOLE    01              65083        0        0
FEDERATED STK TR            SH BEN INT          31390010R       35      858 SH       SOLE    01                858        0        0
FIRST AMERICAN CORP TENN    STK MER DEP GUARANTY318900107        9      234 SH       DEFINED                   234        0        0
FIRST LAND & TIMBER 2.5     DUE 12/31/99        32070010A       29        1 SH       SOLE                        1        0        0
FIRST LAND & TIMBER 2.5     DUE 12/31/99        32070010D        0        1 SH       SOLE                        1        0        0
FIRST LAND & TIMBER 2.5     DUE 12/31/99        32070010B       52        1 SH       SOLE                        1        0        0
FIRST LAND & TIMBER 2.5     DUE 12/31/99        32070010C       13        1 SH       SOLE                        1        0        0
FIRST TENN NATL CORP        COM                 337162101        7      200 SH       SOLE                      200        0        0
FIRST UN CORP               COM                 337358105        5      118 SH       DEFINED 01                118        0        0
FIRST UN CORP               COM                 337358105       82     1760 SH       SOLE    01               1760        0        0
FIRST UNITED BANCSHARES INC                     33741E104      497    26721 SH       SOLE    01              23971     2400      350
FIRST UNITED BANCSHARES INC                     33741E104       67     3600 SH       DEFINED 01               3600        0        0
FIRST UTD BANCSHARES INC ARKCOM                 33741E104     2727   146476 SH       DEFINED                138760     2304     5412
FIRST UTD BANCSHARES INC ARKCOM                 33741E104    13368   717952 SH       SOLE                   155156   120954   441842
FLEET FINL GROUP INC NEW    COM                 338915101       31      700 SH       SOLE    01                700        0        0
FLORIDA PROGRESS CORP       COM                 341109106       10      250 SH       SOLE    01                250        0        0
FLUOR CORP                  COM                 343861100       56     1396 SH       SOLE                     1396        0        0
FORD MOTOR CO DEL           COM                 345370100       84     1500 SH       SOLE    01               1500        0        0
FORD MTR CO CAP TR I        TOPRS 9%            345343206       27     1000 SH       SOLE    01               1000        0        0
FORD MTR CO DEL                                 345370100      222     3946 SH       SOLE                     3946        0        0
FORD MTR CO DEL                                 345370100       37      660 SH       DEFINED                   100        0      560
FPL GROUP INC               COM                 302571104       24      450 SH       SOLE                      450        0        0
FPL GROUP INC               COM                 302571104       10      200 SH       SOLE    01                200        0        0
FRANKLIN FED TAX FREE INCOMECL A                353519101       12     1058          SOLE    01               1058        0        0
GAP INC DEL                 COM                 364760108       67     1350 SH       SOLE    01               1350        0        0
GATEWAY INC                 COM                 367626108       11      200 SH       SOLE                      200        0        0
GENERAL ELEC CO             COM                 369604103     1604    14200 SH       SOLE    01              14200        0        0
GENERAL ELEC CO             COM                 369604103      158     1400 SH       DEFINED 01               1400        0        0
GENERAL ELEC CO             COM                 369604103      666     5900 SH       SOLE                     5900        0        0
GENERAL MLS INC             COM                 370334104        0       10 SH       DEFINED                     0        0       10
GENERAL MLS INC             COM                 370334104       28      360 SH       SOLE                      360        0        0
GENERAL MTRS CORP           COM                 370442105      108     1650 SH       SOLE    01               1650        0        0
GENERAL MTRS CORP           COM                 370442105       46      700 SH       SOLE                      634       66        0
GENOME THERAPEUTICS CORP    COM                 372430108        3     1000 SH       SOLE    01               1000        0        0
GENUS INC                   COM                 372461103        4     1500 SH       DEFINED 01               1500        0        0
GEORGIA PAC CORP            COM-TIMBER GRP      373298702       54     2170 SH       SOLE                     2170        0        0
GEORGIA PAC CORP            COM-TIMBER GRP      373298702       11      450 SH       SOLE    01                450        0        0
GEORGIA PAC CORP            COM GA PAC GRP      373298108       42      900 SH       SOLE    01                900        0        0
GEORGIA PAC CORP            COM GA PAC GRP      373298108      239     5062 SH       SOLE                     5062        0        0
GERON CORP                  COM                 374163103        3      300 SH       SOLE                      300        0        0
GILLETTE CO                 COM                 375766102       87     2135 SH       DEFINED                   150     1985        0
GILLETTE CO                 COM                 375766102      190     4656 SH       SOLE                     4656        0        0
GILLETTE CO                 COM                 375766102      239     5830 SH       SOLE    01               5630        0      200
GILLETTE CO                 COM                 375766102       16      400 SH       DEFINED 01                400        0        0
GLAXO WELLCOME PLC          SPONSORED ADR       37733W105       16      300 SH       SOLE    01                300        0        0
GLOBAL INDL TECHNOLOGIES INCCOM                 379335102        1      160 SH       SOLE                      160        0        0
GOODYEAR TIRE & RUBR CO     COM                 382550101        5       92 SH       SOLE                       92        0        0
GOODYEAR TIRE & RUBR CO     COM                 382550101       30      526 SH       SOLE    01                526        0        0
GPU INC                                         36225X100       16      400 SH       SOLE    01                400        0        0
GREAT LAKES CHEM CORP       COM                 390568103       54     1185 SH       DEFINED                     0     1185        0
GTE CORP                    COM                 362320103      751     9950 SH       SOLE    01               9950        0        0
GTE CORP                    COM                 362320103      105     1400 SH       DEFINED 01               1400        0        0
GTE CORP                    COM                 362320103      309     4100 SH       SOLE                     3100        0     1000
GUARANTY BANCSHARES INC TEX COM                 400764106        2      200 SH       SOLE    01                  0        0      200
GUIDANT CORP                COM                 401698105      277     5436 SH       SOLE    01               5436        0        0
HALLIBURTON CO              COM                 406216101       47     1050 SH       SOLE                     1050        0        0
HALLIBURTON CO              COM                 406216101       27      600 SH       DEFINED                   600        0        0
HALLIBURTON CO              COM                 406216101       65     1450 SH       SOLE    01               1450        0        0
HARRIS CORP DEL             COM                 413875105       14      375 SH       SOLE                      375        0        0
HATTERAS INCOME SECS INC    COM                 419025101        2      200 SH       SOLE    01                200        0        0
HEWLETT PACKARD CO          COM                 428236103      233     2325 SH       SOLE    01               2225        0      100
HEWLETT PACKARD CO          COM                 428236103       20      200 SH       DEFINED 01                200        0        0
HEWLETT PACKARD CO          COM                 428236103      110     1100 SH       SOLE                     1100        0        0
HIBERNIA CORP                                   428656102       14      900 SH       DEFINED 01                900        0        0
HIBERNIA CORP                                   428656102     6154   392536 SH       SOLE    01             392536        0        0
HOME DEPOT INC              COM                 437076102      114     1775 SH       SOLE                      275        0     1500
HOME DEPOT INC              COM                 437076102        6      100 SH       DEFINED 01                100        0        0
HOME DEPOT INC              COM                 437076102      315     4899 SH       SOLE    01               2199     2700        0
HONG KONG TELECOMMUNICATIONSSPONSORED ADR       438579203       58     2160 SH       DEFINED                     0     2160        0
HOPEWELL HLDGS LTD          SPONSORED ADR       439555301       11    14600 SH       DEFINED                     0    14600        0
HUBBELL INC                 CL B                443510201       45     1000 SH       SOLE    01               1000        0        0
ICN PHARMACEUTICALS INC NEW COM                 448924100        6      200 SH       SOLE    01                200        0        0
IMATION CORP                COM                 45245A107        0       20 SH       SOLE    01                 20        0        0
INGERSOLL RAND CO           COM                 456866102      103     1600 SH       SOLE                     1150      450        0
INGERSOLL RAND CO           COM                 456866102        6      100 SH       DEFINED                   100        0        0
INTEL CORP                  COM                 458140100      446     7500 SH       SOLE                     6700        0      800
INTEL CORP                  COM                 458140100      142     2400 SH       DEFINED 01               2400        0        0
INTEL CORP                  COM                 458140100      666    11200 SH       SOLE    01              11100      100        0
INTERNATIONAL BUS MACH      COM                 459200101      272     2112 SH       DEFINED                     0     2112        0
INTERNATIONAL BUS MACH      COM                 459200101      968     7490 SH       SOLE                     7390      100        0
INTERNATIONAL BUS MACH      COM                 459200101     1615    12500 SH       SOLE    01              12400      100        0
INTERNATIONAL FLAVORS AND FRAGRANCES            459506101       15      350 SH       SOLE                      350        0        0
INTERNATIONAL PAPER CO      COM                 460146103      153     3050 SH       SOLE                     3050        0        0
INTERNATIONAL PAPER CO      COM                 460146103       54     1081 SH       DEFINED                   150      931        0
INTERNATIONAL PAPER CO      COM                 460146103       12      250 SH       SOLE    01                250        0        0
INTERNATIONAL PAPER CO      COM                 460146103       10      200 SH       DEFINED 01                200        0        0
INTERSTATE ENERGY CORP      WISC COM            018802108        2      100 SH       SOLE    01                100        0        0
IPALCO ENTERPRISES INC      COM                 462613100       12      600 SH       SOLE                      600        0        0
IRWIN FINL CORP             COM                 464119106       35     1800 SH       SOLE    01               1800        0        0
JEFFERSON PILOT CORPORATION                     475070108       19      300 SH       DEFINED 01                300        0        0
JOHNS MANVILLE CORP                             478129109        4      292 SH       SOLE                        0      292        0
JOHNSON & JOHNSON           COM                 478160104      186     1900 SH       DEFINED 01               1700        0      200
JOHNSON & JOHNSON           COM                 478160104      196     2000 SH       SOLE    01               2000        0        0
JOHNSON & JOHNSON           COM                 478160104       96      980 SH       DEFINED                   100      480      400
JOHNSON & JOHNSON           COM                 478160104      666     6800 SH       SOLE                     6800        0        0
KANSAS CITY PWR & LT CO     COM                 485134100       25     1000 SH       SOLE                        0        0     1000
KERR-MCGEE CORPORATION INC                      492386107        1       32 SH       SOLE                       32        0        0
KIMBERLY CLARK CORP         COM                 494368103       11      200 SH       SOLE    01                200        0        0
KIMBERLY CLARK CORP         COM                 494368103      148     2600 SH       SOLE                     2600        0        0
KINDER CARE LEARNING CENTERSINC.                494520109        0      200 SH       DEFINED 01                200        0        0
KROGER CO                   COM                 501044101       10      375 SH       SOLE                      250      125        0
LACLEDE GAS CO              COM                 505588103        6      300 SH       SOLE                      300        0        0
LACLEDE GAS CO              COM                 505588103       20      900 SH       DEFINED                   900        0        0
LEUCADIA NATL CORP          COM                 527288104      129     5085 SH       DEFINED                     0     5085        0
LG&E ENERGY CORP            COM                 501917108       35     1670 SH       SOLE    01                  0     1670        0
LIFEPOINT HOSPITALS INC     COM                 53219L109        0       65 SH       DEFINED                     0       65        0
LILLY ELI & CO              COM                 532457108      358     5008 SH       SOLE    01               5008        0        0
LILLY ELI & CO              COM                 532457108       50      700 SH       DEFINED 01                700        0        0
LILLY ELI & CO              COM                 532457108      107     1500 SH       SOLE                     1500        0        0
LOUISIANA PAC CORP          COM                 546347105       24     1016 SH       SOLE                     1016        0        0
LTV CORP                    *W EXP 06/28/1998   501921126        0        1 SH       SOLE    01                  1        0        0
LTV CORP 1.25 SERIES                            502210800        0       14 SH       SOLE    01                 14        0        0
LUCENT TECHNOLOGIES INC     COM                 549463107      111     1650 SH       DEFINED 01               1650        0        0
LUCENT TECHNOLOGIES INC     COM                 549463107     1581    23454 SH       SOLE    01              23354      100        0
LUCENT TECHNOLOGIES INC     COM                 549463107     1047    15536 SH       SOLE                    15314      222        0
MALLINCKRODT INC            COM                 561232109        1       30 SH       SOLE                       30        0        0
MCDONALDS CORP              COM                 580135101       16      400 SH       SOLE    01                400        0        0
MCDONALDS CORP              COM                 580135101       24      600 SH       DEFINED 01                600        0        0
MCDONALDS CORP              COM                 580135101       94     2300 SH       SOLE                     2300        0        0
MCI WORLDCOM INC            COM                 55268B106       25      300 SH       DEFINED 01                200        0      100
MCI WORLDCOM INC            COM                 55268B106        8      100 SH       SOLE                      100        0        0
MCI WORLDCOM INC            COM                 55268B106       75      875 SH       SOLE    01                875        0        0
MCKESSON HBOC INC           COM                 58155Q103        6      200 SH       SOLE                      200        0        0
MEDIAONE GROUP INC          COM                 58440J104       12      164 SH       SOLE                      109       55        0
MEDPARTNERS/MULLIKIN, INC                       58503X107        2      363 SH       SOLE    01                363        0        0
MEDPARTNERS/MULLIKIN, INC                       58503X107        9     1210 SH       DEFINED 01               1210        0        0
MEDTRONIC INC               COM                 585055106       38      500 SH       SOLE    01                500        0        0
MELLON BK CORP              COM                 585509102       29      800 SH       SOLE    01                800        0        0
MERCK & CO INC              COM                 589331107     1719    23350 SH       SOLE    01              23150        0      200
MERCK & CO INC              COM                 589331107      143     1950 SH       DEFINED 01               1650        0      300
MERCK & CO INC              COM                 589331107      467     6350 SH       SOLE                     6350        0        0
MERITOR AUTOMOTIVE INC      COM                 59000G100        4      166 SH       SOLE    01                166        0        0
MERLIN MORRIS FARMS INC.                        546001991        2     2679 SH       SOLE                     2679        0        0
MERRILL LYNCH CORP BD FD INCHI INCOME CL A      590907101       17     2536 SH       SOLE                     2536        0        0
MESA OFFSHORE TR            UNIT BEN INT        590650107        0     2000 SH       SOLE    01               2000        0        0
MFS INTER INCOME TR         SH BEN INT          55273C107       19     3100 SH       SOLE    01               3100        0        0
MGIC INVT CORP WIS          COM                 552848103       24      500 SH       SOLE                      500        0        0
MICROSOFT CORP              COM                 594918104      550     6100 SH       SOLE                     6100        0        0
MICROSOFT CORPORATION                           594918104      748     8300 SH       SOLE    01               8200      100        0
MICROSOFT CORPORATION                           594918104       36      400 SH       DEFINED 01                400        0        0
MINNESOTA MNG & MFG CO      COM                 604059105       60      700 SH       SOLE    01                700        0        0
MISSISSIPPI CHEMICAL                            598001998        0        2 SH       SOLE                        2        0        0
MOBIL CORP                  COM                 607059102       39      400 SH       DEFINED 01                400        0        0
MOBIL CORP                  COM                 607059102      778     7888 SH       SOLE                     7688        0      200
MOBIL CORP                  COM                 607059102      671     6800 SH       SOLE    01               6800        0        0
MONSANTO CO                 COM                 611662107        7      200 SH       SOLE    01                200        0        0
MONSANTO COMPANY COM                            611662107       19      500 SH       DEFINED                     0      500        0
MONSANTO COMPANY COM                            611662107      907    22940 SH       SOLE                    18174     4766        0
MORGAN STANLEY DEAN WITTER & CO                 617446448       31      306 SH       SOLE    01                306        0        0
MORRISON HEALTH CARE INC    COM                 61841L108        2      105 SH       DEFINED 01                105        0        0
MOTOROLA INC                                    620076109       15      160 SH       DEFINED                   160        0        0
MOTOROLA INC                                    620076109      104     1100 SH       SOLE                     1100        0        0
MOTOROLA INCORPORATED    COM                    620076109        9      100 SH       DEFINED 01                100        0        0
MOTOROLA INCORPORATED    COM                    620076109       37      400 SH       SOLE    01                400        0        0
MURPHY OIL CORP             COM                 626717102     4266    87411 SH       SOLE                    87411        0        0
MURPHY OIL CORP             COM                 626717102   118400  2425753 SH       DEFINED                     0  2425753        0
NBC BANK CORP                                   633211107      126     1268 SH       SOLE                     1268        0        0
NCR CORP NEW                COM                 62886E108        0       13 SH       SOLE                       13        0        0
NEWMONT MINING CORP         COM                 651639106        3      193 SH       SOLE    01                193        0        0
NICOR INC                   COM                 654086107       30      800 SH       SOLE                      800        0        0
NIKE INC CL B               CL B                654106103       57      900 SH       SOLE    01                700        0      200
NIKE INC CL B               CL B                654106103        6      100 SH       SOLE                      100        0        0
NOBLE AFFILIATES INC        COM                 654894104       60     2160 SH       SOLE    01               2160        0        0
NOBLE DRILLING CORP         COM                 655042109       15      792 SH       SOLE    01                792        0        0
NORFOLK SOUTHERN CORP       COM                 655844108       81     2700 SH       SOLE                     2700        0        0
NORTHERN TRUST COMPANY  NTRS                    665859104       86      890 SH       SOLE    01                890        0        0
NORTHERN TRUST COMPANY  NTRS                    665859104      194     2000 SH       DEFINED 01               2000        0        0
OCCIDENTAL PETE CORP DEL    COM                 674599105       27     1303 SH       SOLE    01                803      500        0
OGE ENERGY CORP             COM                 670837103        4      200 SH       SOLE    01                200        0        0
OKLAHOMA GAS & ELEC CO      COM                 670837103       16      700 SH       DEFINED                   700        0        0
OKLAHOMA GAS & ELEC CO      COM                 670837103       74     3156 SH       SOLE                      300        0     2856
OLIN CORP                   COM PAR $1          680665205       10      808 SH       SOLE                        0      808        0
ORACLE CORP                 COM                 68389X105       22      600 SH       SOLE                      600        0        0
ORACLE CORP                 COM                 68389X105      188     5085 SH       SOLE    01               5085        0        0
ORACLE CORP                 COM                 68389X105       18      500 SH       DEFINED 01                500        0        0
PALL CORP                   COM                 696429307       11      500 SH       SOLE    01                500        0        0
PENNEY J C INC              COM                 708160106       47      970 SH       SOLE                      970        0        0
PENNZENERGY CO.             FOR. PENNZOIL CO    70931Q109        0       31 SH       SOLE                       31        0        0
PENNZOIL QUAKER ST CO                           709323109        0       31 SH       SOLE                       31        0        0
PEOPLES ENERGY CORP         COM                 711030106       18      500 SH       DEFINED                   500        0        0
PEOPLES ENERGY CORP         COM                 711030106        7      200 SH       SOLE                      200        0        0
PEPSICO INC                 COM                 713448108      201     5200 SH       SOLE                     5067      133        0
PEPSICO INC                 COM                 713448108       42     1100 SH       DEFINED                     0     1100        0
PEPSICO INC                 COM                 713448108       61     1600 SH       DEFINED 01               1600        0        0
PEPSICO INC                 COM                 713448108      506    13100 SH       SOLE    01              11900     1200        0
PFIZER INC                  COM                 717081103      163     1500 SH       SOLE                     1500        0        0
PFIZER INC                  COM                 717081103      321     2950 SH       SOLE    01               2950        0        0
PG&E CORP                   COM                 69331C108        8      250 SH       DEFINED                   250        0        0
PHELPS DODGE CORP           COM                 717265102        1       20 SH       SOLE                       20        0        0
PHILIP MORRIS COS           COM                 718154107       12      300 SH       SOLE                      300        0        0
PITNEY-BOWES INC            COM                 724479100        2       36 SH       SOLE    01                 36        0        0
POTLATCH CORP               COM                 737628107       13      300 SH       SOLE    01                300        0        0
POTOMAC ELEC PWR CO         COM                 737679100        5      200 SH       SOLE    01                200        0        0
PRAIRIE FARMERS ASSOC.      RESERVES (BE)       711000992        1     1769 SH       SOLE                     1769        0        0
PRAIRIE FARMERS ASSOCIATION NUMBER 00888        722000999        0        1 SH       SOLE                        1        0        0
PRAXAIR INC                 COM                 74005P104       14      300 SH       DEFINED 01                300        0        0
PRIMEX TECHNOLOGIES INC     COM                 741597108       16      760 SH       SOLE                        0      760        0
PROCTER & GAMBLE CO         COM                 742718109      374     4200 SH       SOLE    01               4200        0        0
PROCTER & GAMBLE CO         COM                 742718109      182     2050 SH       SOLE                     2050        0        0
PROCTER & GAMBLE CO         COM                 742718109      267     3000 SH       DEFINED 01               3000        0        0
RALCORP HLDGS INC NEW       COM                 751028101        1       66 SH       DEFINED                     0        0       66
RALSTON PURINA CO           COM RAL-PUR GP      751277302       18      609 SH       DEFINED                     0        0      609
REGIONS FINANCIAL                               758940100       68     1786 SH       DEFINED                     0     1786        0
REGIONS FINANCIAL                               758940100       29      764 SH       SOLE                      764        0        0
REGIONS FINL CORP           COM                 758940100      541    14099 SH       SOLE    01              14099        0        0
RELIANT ENERGY INC          COM                 75952J108       22      824 SH       DEFINED 01                824        0        0
RELIANT ENERGY INC          COM                 75952J108       75     2748 SH       SOLE                     2748        0        0
RELIANT ENERGY INC          COM                 75952J108      123     4461 SH       DEFINED                  4123      338        0
RELIANT ENERGY INC          COM                 75952J108       46     1700 SH       SOLE    01                500     1200        0
REPUBLIC N Y CORP           COM                 760719104       68     1000 SH       SOLE    01               1000        0        0
RHONE POULENC S A           SPNSRD ADR A        762426609       13      300 SH       SOLE    01                300        0        0
ROHM & HAAS CO              COM                 775371107        4      110 SH       SOLE    01                110        0        0
ROUSE COMPANY               COM                 779273101        2      100 SH       SOLE    01                100        0        0
ROYAL DUTCH PETE CO         NY REG GLD1.25      780257804       72     1200 SH       SOLE    01               1200        0        0
RUBY TUESDAY INC                                781182100       11      630 SH       DEFINED 01                630        0        0
SALOMON BROTHERS FD INC     COM                 795477108        9      500 SH       SOLE                      500        0        0
SANTA FE ENERGY RES INC     COM                 802012104        2      313 SH       SOLE    01                313        0        0
SARA LEE CORP               COM                 803111103       18      800 SH       SOLE    01                800        0        0
SBC COMMUNICATIONS INC      COM                 78387G103      243     4200 SH       SOLE    01               4200        0        0
SBC COMMUNICATIONS INC      COM                 78387G103     1124    19388 SH       SOLE                    19144      244        0
SBC COMMUNICATIONS INC      COM                 78387G103       11      200 SH       DEFINED                   200        0        0
SCANA CORP                  COM                 805898103       46     2000 SH       SOLE                        0        0     2000
SCHERING PLOUGH CORP        COM                 806605101      115     2200 SH       SOLE                     2200        0        0
SCHERING PLOUGH CORP        COM                 806605101     1233    23500 SH       DEFINED                   100    23400        0
SCHERING PLOUGH CORP        COM                 806605101      152     2900 SH       SOLE    01               2900        0        0
SCHERING PLOUGH CORP        COM                 806605101      126     2400 SH       DEFINED 01               2400        0        0
SCHLUMBERGER LTD            COM                 806857108      149     2350 SH       SOLE                     2350        0        0
SCHLUMBERGER LTD            COM                 806857108       98     1550 SH       SOLE    01               1550        0        0
SCUDDER GLOBAL DISCOVERY FD                     378947501       12      510 SH       SOLE    01                510        0        0
SEAGATE TECHNOLOGY          COM                 811804103       25     1000 SH       SOLE    01               1000        0        0
SEARS ROEBUCK & CO          COM                 812387108       72     1619 SH       SOLE    01               1619        0        0
SEMPRA ENERGY               COM                 816851109       18      800 SH       SOLE                      800        0        0
SEMPRA ENERGY AKA ENOVA CORP                    816851109        4      200 SH       SOLE    01                200        0        0
SERVICEMASTER CO                                81760N109       28     1500 SH       SOLE    01               1500        0        0
SGI INTERNATIONAL INC                           784185209        0     2500 SH       SOLE                        0        0     2500
SIMMONS 1ST NATL CORP       CL A $5 PAR         828730200        5      162 SH       DEFINED 01                162        0        0
SIMMONS 1ST NATL CORP       CL A $5 PAR         828730200       96     3000 SH       DEFINED                  3000        0        0
SIMMONS 1ST NATL CORP       CL A $5 PAR         828730200      385    12012 SH       SOLE    01              12012        0        0
SOLUTIA INC                 COM                 834376105      113     5348 SH       SOLE                     4194     1154        0
SOLUTIA INC                 COM                 834376105        2      100 SH       DEFINED                     0      100        0
SONAT INC                   COM                 835415100        6      200 SH       DEFINED                     0      200        0
SONIC CORP                  COM                 835451105      167     5150 SH       DEFINED                  5150        0        0
SONY CORP                                       835699307       55      500 SH       DEFINED                     0      500        0
SOUTHERN CO                 COM                 842587107       13      500 SH       SOLE    01                500        0        0
SOUTHERN CO                 COM                 842587107       29     1100 SH       SOLE                      500        0      600
SOUTHERN CO                 COM                 842587107      113     4300 SH       DEFINED                  4300        0        0
SPEEDYWAY MOTORSPORTS INC                       847788106        3      100 SH       SOLE    01                100        0        0
STAFFMARK INC               COM                 852389105       10     1000 SH       DEFINED                  1000        0        0
SUNOCO INC                  COM                 86764P109       49     1628 SH       SOLE                     1628        0        0
SUNOCO INC                  COM                 86764P109       21      700 SH       SOLE    01                700        0        0
TALISMAN ENERGY INC         COM                 87425E103        2      100 SH       SOLE    01                100        0        0
TECO ENERGY INC             COM                 872375100        6      300 SH       SOLE                      300        0        0
TECO ENERGY INC             COM                 872375100       18      800 SH       DEFINED                   800        0        0
TELLABS INC                 COM                 879664100       67     1000 SH       SOLE    01               1000        0        0
TEMPLE INLAND INC           COM                 879868107       27      400 SH       SOLE    01                400        0        0
TENNECO INC NEW             COM                 88037E101       19      800 SH       SOLE                      800        0        0
TENNECO INC NEW             COM                 88037E101        4      200 SH       DEFINED                   200        0        0
TEXACO INC                  COM                 881694103       31      500 SH       SOLE                      500        0        0
TEXACO INC                  COM                 881694103       96     1547 SH       SOLE    01               1547        0        0
TEXARKANA FIRST FINANCIAL CORPORATION        COM881801104      270    11400 SH       DEFINED 01              11400        0        0
TEXARKANA FIRST FINANCIAL CORPORATION        COM881801104      299    12625 SH       SOLE    01              11800      700      125
TEXAS INSTRS INC            COM                 882508104       43      300 SH       SOLE    01                300        0        0
TEXAS INSTRS INC            COM                 882508104       28      200 SH       SOLE                      200        0        0
TEXAS UTILS CO              COM                 882848104       82     2000 SH       SOLE    01               2000        0        0
TEXAS UTILS CO              COM                 882848104       10      250 SH       DEFINED                   250        0        0
THERMO ELECTRON CORP        COM                 883556102       10      505 SH       SOLE    01                505        0        0
TIFFANY & CO NEW                                886547108       53      550 SH       SOLE    01                550        0        0
TIME WARNER INC             COM                 887315109       43      600 SH       SOLE    01                600        0        0
TNP ENTERPRISES INC         COM                 872594106       10      300 SH       DEFINED                     0        0      300
TRAVIS BOATS & MTRS INC     COM                 894363100        2      200 SH       SOLE    01                200        0        0
TRIAD HOSPITALS INC         COM                 89579K109        0       65 SH       DEFINED                     0       65        0
TRICON GLOBAL RESTAURANTS   COM                 895953107       16      300 SH       DEFINED 01                300        0        0
TRICON GLOBAL RESTAURANTS   COM                 895953107      127     2350 SH       SOLE    01               2350        0        0
TRICORD SYSTEMS INC         COM                 896121100        3     1000 SH       SOLE    01               1000        0        0
TYSON FOODS INC CL A        CL A                902494103      347    15450 SH       DEFINED                 15000        0      450
TYSON FOODS INC CL A        CL A                902494103       16      750 SH       SOLE    01                750        0        0
U S G CORP                  COM NEW             903293405       16      300 SH       SOLE    01                  0      300        0
U S WEST INC NEW            COM                 91273H101       29      505 SH       SOLE    01                505        0        0
UNICOM CORP                 COM                 904911104       23      600 SH       SOLE                      600        0        0
UNICOM CORP                 COM                 904911104       19      500 SH       DEFINED                   500        0        0
UNION CARBIDE CORP          COM                 905581104       14      300 SH       DEFINED 01                300        0        0
UNION CARBIDE CORP          COM                 905581104       18      375 SH       SOLE    01                375        0        0
UNION PAC CORP              COM                 907818108      230     3950 SH       DEFINED                   150     3800        0
UNION PAC CORP              COM                 907818108       56      975 SH       SOLE                      850      125        0
UNION PAC RES GROUP INC     COM                 907834105       52     3218 SH       DEFINED                     0     3218        0
UNITED ARKANSAS CORPORATION                     907000996        0     1200 SH       DEFINED                     0        0     1200
US WEST COM NEW             EXCHG FROM 91288910291273H101        0        4 SH       SOLE                        4        0        0
USA TRUCK INC               COM                 902925106      983   107463 SH       SOLE                   107463        0        0
USA TRUCK INC               COM                 902925106        5      600 SH       DEFINED                   600        0        0
USX-U S STL                 COM                 90337T101       20      750 SH       SOLE                      750        0        0
USX-U S STL                 COM                 90337T101        5      200 SH       DEFINED                   200        0        0
UTILICORP UTD INC           COM                 918005109       69     2856 SH       SOLE    01               2856        0        0
V F CORP                    COM                 918204108       25      600 SH       SOLE    01                600        0        0
VIACOM 8% DUE 7-7-06                            925524AC4       21    21000 PRN      SOLE    01              21000        0        0
VLASIC FOODS INTL INC       COM                 928559103        0      100 SH       SOLE    01                100        0        0
WAL MART STORES INC         COM                 931142103      370     7672 SH       SOLE    01               7672        0        0
WAL MART STORES INC         COM                 931142103        9      200 SH       DEFINED 01                200        0        0
WAL MART STORES INC         COM                 931142103     1669    34600 SH       SOLE                    23100     2500     9000
WAL MART STORES INC         COM                 931142103      262     5433 SH       DEFINED                   753     3000     1680
WALGREEN CO                 COM                 931422109       11      400 SH       SOLE                      400        0        0
WARNER LAMBERT CO           COM                 934488107       20      300 SH       DEFINED 01                300        0        0
WARNER LAMBERT CO           COM                 934488107      651     9425 SH       SOLE    01               9325      100        0
WARNER LAMBERT CO           COM                 934488107      952    13775 SH       SOLE                    13683       92        0
WASHINGTON MUTUAL INC       COM                 939322103       14      400 SH       SOLE                      400        0        0
WELLS FARGO & CO NEW        COM                 949746101       42     1000 SH       SOLE    01               1000        0        0
WESTERN RES INC             COM                 959425109       31     1200 SH       SOLE                     1200        0        0
WEYERHAEUSER CO             COM                 962166104       48      700 SH       SOLE    01                700        0        0
WILLIAMS COS INC DEL        COM                 969457100       12      300 SH       SOLE                      300        0        0
WM WRIGLEY JR COMPANY    COM                    982526105       35      400 SH       SOLE    01                400        0        0
YAHOO INC                   COM                 984332106       17      100 SH       SOLE    01                100        0        0
</TABLE>


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