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Commercial banks

First Commercial Corporation to Acquire FDH Bancshares, Inc.

Strategic Insights

— 1 min read

First Commercial Corporation, a leading bank holding company based in Arkansas, announced its plans to acquire FDH Bancshares, Inc. and its five banks, totaling $382 million in consolidated assets. The acquisition aims to expand First Commercial Corporation's presence in new geographic areas, leveraging the strong market opportunities and competitive product offerings of the acquired banks. Frank D. Hickingbotham, the sole shareholder of FDH Bancshares, Inc., will join First Commercial Corporation's affiliate family following the affiliation.

Key Takeaways:

  • First Commercial Corporation will acquire FDH Bancshares, Inc. and its five banks, with consolidated assets of $382 million, loans of $215 million, and deposits of $334 million.
  • The acquisition expands First Commercial Corporation's presence in new geographic areas, including Louisiana, where it will gain a foothold through the acquisition of Springhill Bank and Trust.
  • Frank D. Hickingbotham, the sole shareholder of FDH Bancshares, Inc., has a past affiliation with First Commercial Corporation as a member of its Board of Directors.
  • The partnership aims to benefit FDH, its customers, and communities, as well as First Commercial Corporation, by leveraging the strengths of both organizations.
  • First Commercial Corporation has a track record of successful bank affiliations, leading to expanded products and improved service to customers.

Statistics:

  • FDH Bancshares, Inc. has consolidated assets of $382 million.
  • FDH Bancshares, Inc. has loans of $215 million.
  • FDH Bancshares, Inc. has deposits of $334 million.
  • First Commercial Corporation has 21 affiliate banks in Arkansas, Texas, and Tennessee, and a 50% interest in a 22nd bank in Oklahoma.
  • First Commercial Corporation's non-bank subsidiaries include First Commercial Mortgage Company, First Commercial Trust Company, N.A., First Commercial Investments, Inc., First Commercial Capital Management, and Commercial Capital Funding, Inc.
  • First Commercial Corporation has total assets of $4.3 billion.

Sources:

  • "First Commercial Corporation to Acquire FDH Bancshares, Inc." Business Wire, May 30, 1995.
  • First Commercial Corporation, media release, May 30, 1995.

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