First Federal Bancshares Inc.

First Federal Bancshares Inc. of Harrison announced on April 26 that its first-quarter earnings were $1.14 million, down 20 percent from the comparable quarter in 2000.

Earnings per share, however, were down only 10 percent — 35 cents compared with 39 cents in the first quarter of 2000 — thanks to the company’s strategy of repurchasing 168,274 shares during the first quarter.

The announcement was made on the same day that the bank holding company’s shareholders met.

Assets declined quarter-over-quarter, to $694.7 million on March 31 from $713.9 million a year earlier.

The holding company for First Federal Bank of Arkansas saw its stock reach new highs in the last year, breaking the $20 mark throughout February. The shares were trading in the $19.50 range in early May.

First Federal Bancshares serves commercial and individual customers through about 16 offices in north central and Northwest Arkansas.