8-K

                    SECURITIES AND EXCHANGE COMMISSION

                         Washington, D.C.  20549

                                 FORM 8-K

                              CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d)
                  OF THE SECURITIES EXCHANGE ACT OF 1934



                              September 26, 2003
______________________________________________________________________________
                     (Date of earliest event reported)


                First Federal Bancshares of Arkansas, Inc.
______________________________________________________________________________
          (Exact name of registrant as specified in its charter)


        Texas                         0-28312                   71-0785261
______________________________________________________________________________
(State or other jurisdiction   (Commission File Number)      (IRS Employer
of incorporation)                                          Identification No.)



1401 Highway 62-65 North, Harrison, Arkansas                     72601
______________________________________________________________________________
(Address of principal executive offices)                      (Zip Code)


                              (870) 741-7641
______________________________________________________________________________
           (Registrant's telephone number, including area code)


                              Not Applicable
______________________________________________________________________________
(Former name, former address and former fiscal year, if changed since last
report)



Item 5.   Other Events and Required FD Disclosure
          _______________________________________

     On September 26, 2003, First Federal Bancshares of Arkansas, Inc. issued a
press release announcing the election of a director.  A copy of the press
release is included as Exhibit 99.1 and is incorporated herein by reference.


Item 7.   Financial Statements, Pro Forma Financial Information and Exhibits
          __________________________________________________________________

     (a)  Not applicable.

     (b)  Not applicable.

     (c)  The following exhibit is included with this Report:


     Exhibit No.         Description
     ___________         ___________

     99.1                Press Release, dated September 26, 2003

























                                     2

                                SIGNATURES


     Pursuant to the requirements 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.

                              FIRST FEDERAL BANCSHARES OF
                                ARKANSAS,INC.


                              By:  /s/ Larry J. Brandt
                                  ------------------------------------
                                  Name:  Larry J. Brandt
                                  Title: President and Chief Operating Officer

Date: September 26, 2003



































                                     3

EX-99.1

                                                     EXHIBIT 99.1

FIRST                                                         FOR
FEDERAL                                                 IMMEDIATE
BANCSHARES                                                RELEASE
1401 Highway 62-65 North
P.O. Box 550
Harrison, AR  72601              FOR FURTHER INFORMATION CONTACT:
                                    Larry J. Brandt/President-CEO
                                         Tommy Richardson/EVP-COO
                                          Sherri Billings/EVP-CFO
                                                     870-741-7641

           FIRST FEDERAL BANCSHARES OF ARKANSAS, INC.
              ANNOUNCES THE ELECTION OF A DIRECTOR

  Harrison, Arkansas - September 26, 2003 - (NASDAQ NMS:FFBH)
  First Federal Bancshares of Arkansas, Inc. (the
  "Corporation"), a unitary savings and loan holding company
  for First Federal Bank  of  Arkansas, FA  (the "Bank")
  announced today the expansion of its board to six members
  and the election of Mr. Frank Conner to serve as a board
  member. Mr. Conner, who meets the current Nasdaq standard
  of having accounting or related financial expertise, will
  also serve on the Corporation's audit committee. Mr. Conner
  is currently employed  as Vice President - Finance and
  Accounting and Chief Financial Officer of FedEx Freight
  East, formerly American Freightways, Inc. located in
  Harrison, Arkansas. Mr. Conner currently serves on P.A.M.
  Transportation Services, Inc., (a trucking company
  headquartered in Tontitown, Arkansas) board of directors and
  audit committee. Mr. Conner was previously employed by
  American Freightways and previously served for thirteen
  years in various capacities with McKesson Service
  Merchandise. Mr. Conner is a certified public accountant
  and served seven years in public accounting with Peat,
  Marwick and Mitchell prior to joining McKesson.

  Larry J. Brandt, the Corporation's President and Chief
  Executive Officer, noted that "the expansion of the Board,
  through the appointment of Mr. Conner, will further
  diversify the Board and add another level of business,
  financial and accounting experience. We believe his past
  experience will be an asset to the Corporation, particularly
  with respect to his financial and accounting background and
  his qualification as a financial expert on our audit
  committee."

  First Federal Bank, in its 69th year, conducts business from
  16 offices in Northcentral and Northwest Arkansas.  At June
  30, 2003, the Corporation had total assets of $699.1
  million, total liabilities of $627.0 million and
  stockholders' equity of $72.1 million.