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 15, 1996--James V. Kelley Kelley may refer to any of the following: People
Net income was $8.36 million or $1.08 per share for the first six months of 1996 as compared to $7.48 million or $.97 per share for the same period in 1995. Net income for the three months ended June 30, 1996 was $4.01 million or $.52 per share compared with $3.81 million or $.49 per share for the same period in 1995. Total assets at the end of the period were $1.37 billion, an increase of approximately 5.3 percent when compared with $1.30 billion at June 30, 1995. Total deposits at June 30, 1996 were $1.16 billion, while total gross loans for the same period were $659 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 1.23 percent and return on average equity was 12.75 percent on an annualized basis, compared with 1.25 percent and 12.95 percent, respectively, for the same period in 1995. "Our operating results for the first six months of this year reflect the growth we have experienced in total loans," stated Kelley. "We continue to emphasize a low cost of operation while reviewing opportunities for increasing our level of fee income. Expansion of our franchise remains a priority and we are committed to providing the highest level of service to the communities we serve." 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 7 percent to $132.0 million at June 30, 1996 compared with $123.4 million at June 30, 1995. Book value per share at June 30, 1996 was $17.45 compared with $15.98 at June 30 of last year. First United is a $1.4 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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