ITEM 1. BUSINESS.
The information required in response to this Item is incorporated by reference from the disclosure contained under the caption "Description of Business" on page 41 of the Annual Report to Stockholders, which is included as Exhibit 13 hereto.
ITEM 2.


ITEM 2. PROPERTIES.
The information required in response to this Item is incorporated by reference from the disclosure contained under the caption "Properties" on page 42 of the Annual Report to Stockholders, which is included as Exhibit 13 hereto.
ITEM 3.
ITEM 3. LEGAL PROCEEDINGS.
The information required in response to this Item is incorporated by reference from the disclosure contained under the caption "Legal Proceedings" on page 42 of the Annual Report to Stockholders, which is included as Exhibit 13 hereto.
ITEM 4.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
Not applicable.
PART II
ITEM 5.
ITEM 5. MARKET FOR REGISTRANTS COMMON EQUITY AND RELATED STOCKHOLDERS MATTERS.
The information required in response to this Item is incorporated by reference from the disclosure contained under the caption "Common Stock and Dividends" on page 14 of the Annual Report to Stockholders, which is included as Exhibit 13 hereto.
ITEM 6.
ITEM 6. SELECTED FINANCIAL DATA.
The information required in response to this Item is incorporated by reference from the disclosure contained under the caption "Selected Financial Data" on page 20 of the Annual Report to Stockholders, which is included as Exhibit 13 hereto.
ITEM 7.
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
The information required in response to this Item is incorporated by reference from the disclosure contained under the caption "Financial Analysis" on pages 4-19 of the Annual Report to Stockholders, which is included as Exhibit 13 hereto.
ITEM 8.

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.
The information required in response to this Item is incorporated by reference from the disclosure contained under the caption "Financial Statements and Notes" on pages 22-38 of the Annual Report to Stockholders, which is included as Exhibit 13 hereto.
ITEM 9.
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.
Not applicable.
PART III
ITEM 10.


ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF REGISTRANT.
The information required in response to this Item is incorporated by reference from the disclosure contained under the caption "Executive Officers of the Registrant" on page 42 and "Officers and Directors" on pages 43-46 of the Annual Report to Stockholders, which is included as Exhibit 13 hereto and is incorporated by reference from the Definitive Proxy Statement which will be filed with the Securities and Exchange Commission no later than 120 days after the end of the 1993 fiscal year covered by this Annual Report on 10-K.
ITEM 11.
ITEM 11. EXECUTIVE COMPENSATION.
The information required in response to this Item is incorporated by reference from the Definitive Proxy Statement which will be filed with the Securities and Exchange Commission no later than 120 days after the end of the 1993 fiscal year covered by this Annual Report on 10-K.
ITEM 12.
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.
The information required in response to this Item is incorporated by reference from the Definitive Proxy Statement which will be filed with the Securities and Exchange Commission no later than 120 days after the end of the 1993 fiscal year covered by this Annual Report on 10-K.
ITEM 13.
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.
The information required in response to this Item is incorporated by reference from the Definitive Proxy Statement which will be filed with the Securities and Exchange Commission no later than 120 days after the end of the 1993 fiscal year covered by this Annual Report on 10-K.
PART IV
ITEM 14.
ITEM 14. EXHIBITS, FINANCIAL STATEMENTS SCHEDULES, AND REPORT ON FORM 8K.
ITEM 14(a)(1) FINANCIAL STATEMENTS.
The following consolidated financial statements and the report of independent auditors of First United Bancshares, Inc. and subsidiaries for the year ended December 31, 1993 as required by Item 8, are:
ITEM 14(a)(2) FINANCIAL STATEMENT SCHEDULES.
Not applicable.
ITEM 14(a)(3) FINANCIAL STATEMENT SCHEDULES.
The Exhibits required by Item 601 of Regulation S-K which are required to be filed in response to this Item 14(a)(3) are submitted as a separate section of this Annual Report on Form 10-K under the caption "Exhibit Index".
ITEM 14(b) REPORTS ON FORM 8-K.
First United Bancshares, Inc. filed a Current Report on Form 8-K dated on September 8, 1993, describing under Item 5 that First United Bancshares, Inc. had entered into an Agreement and Plan of Reorganization with Commerce Financial Corporation, whereby First United Bancshares, Inc. would acquire ownership of Commercial Bank at Alma, Arkansas.
First United Bancshares, Inc. filed a Current Report on Form 8-K dated December 10, 1993, describing under Item 5 that First United Bancshares, Inc. had consummated an Agreement and Plan of Reorganization with Commerce Financial Corporation, whereby First United Bancshares, Inc. acquired ownership of Commercial Bank at Alma, Arkansas.
ITEM 14(c) EXHIBITS.
The exhibits required by Item 601 of Regulation S-K which are required to be filed in response to this Item 14(c) are submitted as a separate section of this Annual Report on Form 10-K under the caption "Exhibit Index".
ITEM 14(d) FINANCIAL STATEMENT SCHEDULES.
Not applicable.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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, on the 21st day of March, 1994.
FIRST UNITED BANCSHARES, INC.
By:/s/ JOHN E. BURNS ------------------------------- John E. Burns, Chief Financial Officer
POWER OF ATTORNEY
Each person whose signature appears below hereby authorizes James V. Kelley and/or John E. Burns, to file one or more amendments to this Annual Report on Form 10-K, which amendments may make such changes to the Annual Report on Form 10-K as he deems appropriate, and each such person hereby appoints James V. Kelley and/or John E. Burns as his lawful attorney-in-fact to execute in the name and on behalf of each such person individually, and in each capacity stated below, any such amendments to the Annual Report on Form 10-K.
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
FIRST UNITED BANCSHARES, INC. ANNUAL REPORT ON FORM 10-K December 31, 1993
EXHIBIT INDEX