Arkansas' First Commercial Corp. took an 8-cent-per-share hit to its 1994 earnings because its insurance carrier hasn't yet agreed to cover part of a $9.25 million lawsuit settlement.

The company reported 1994 net income of $48.5 million, or $2.02 per share, up 5% from 1993. Even with the $3 million charge, First Commercial reported its 11th year of record earnings. The company also added about $1 billion of assets to its balance sheet with four acquisitions.

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