First Federal Bancshares Will Pay Dividend

Harrison-based First Federal Bancshares of Arkansas Inc., a unitary savings and loan holding company for First Federal Bank of Arkansas FA, declared Aug. 23 that it will pay a 14 cent cash dividend on common stock of the corporation payable on Sept. 25. The dividend will be paid to stockholders of record at the close of business Sept. 10.

Larry J. Brandt, the bank’s president and CEO, said this is First Federal’s 23rd consecutive quarterly cash dividend.

“We increased it 16.7 percent from 12 cents to 14 cents for this quarter,” Brandt said. “… Such action demonstrates our commitment to and confidence in our future prospects.”

First Federal, in its 68th year, operates 16 offices in north central and Northwest Arkansas.

As of June 30, the company had assets of $689.2 million, liabilities of $619.9 million and stockholder’s equity of $69.4 million.