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First Commercial first in assets.

First Commercial First In Assets

Worthen Bank has been making a media splash with its massive advertising budget, its contemporary commercials and its successful bid to become the first bank with statewide branches.

But First Commercial Bank has quietly taken over in the race to see which institution can accumulate the most assets.

Little Rock-based First Commercial had $955.8 million in assets as of March 31, an increase of almost $35 million since the end of 1990.

Both banks increased their holdings by shopping Resolution Trust Corp. basement sales for the latest fad -- the assets of failed thrifts.

First Commercial recently bought a $61-million package of single-family home loans, says Ron Strother, president and chief operating officer.

The bank's deposits have increased as well, Strother says -- by about $19 million to be exact.

At the end of the year, Worthen ranked first in assets with $925 million. As of March 31, Worthen's assets stood at $895.6 million.

In addition to assets, First Commercial led in net income for the period -- $3.334 million, compared with $3.099 million for Worthen.

First Commercial led all banks with return on assets of 1.4 percent. Worthen was just behind at 1.39 percent.

Though Little Rock's Worthen Bank has fallen to second place in assets, Worthen Banking Corp. has retained its title as the largest holding company with $2.166 billion in assets as of March 31, up from $2.143 billion at the end of 1990. [Tabular Data Omitted]
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Title Annotation:First Commercial Bank
Author:Gibson, Carolyn
Publication:Arkansas Business
Date:May 27, 1991
Words:250
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