First United Bancshares, Inc. announces second quarter earnings.EL DORADO El Dorado, legendary country of South America El Dorado (ĕl`dərä`dō, –rā`–) [Span.,=the gilded man], legendary country of the Golden Man sought by adventurers in South America. , Ark.--(BUSINESS WIRE)--July 17, 1995--James V. Kelley Kelley may refer to any of the following: People
Net income was $7.48 million or $1.45 per share for the first six months of 1995 as compared to $7.10 million or $1.38 per share for the same period in 1994. Net income for the three months ended June 30, 1995 was $3.81 million or $.74 per share compared with $3.61 million or $.70 per share for the same period in 1994. Total assets at the end of the period were $1.30 billion, an increase of approximately 16% when compared with $1.12 billion at June 30, 1994. Total deposits at June 30, 1995 were $1.11 billion, while total loans for the same period were $620 million. The annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. return on average assets for the six month period was 1.25% and return on average equity was 12.95% on an annualized basis. "Net income continues to exceed our expectations for 1995," said Kelley. "Asset quality and additional income derived from recent acquisitions are the primary factors behind these results. We are pleased with the financial performance of all of our banks in the First United system, and we are especially pleased with the quality of service they provide to their communities." Shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. rose approximately 12% to $123.4 million at June 30, 1995 compared with $110.5 million at June 30, 1994. Book value per share at June 30, 1995 was $23.98 compared with $21.96 at June 30 of last year. First United is a $1.3 billion bank holding company with 8 affiliate banks serving 22 communities in Arkansas Arkansas, river, United States Arkansas (ärkăn`zəs, är`kənsô'), river, c.1,450 mi (2,330 km) long, rising in the Rocky Mts., central Colo. and Texas. The stock is listed on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on National Market System under the symbol "UNTD." CONTACT: First United Bancshares, Inc., El Dorado John E. Burns, 501/863-3181 |
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