FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * French Tracy   2. Issuer Name and Ticker or Trading Symbol HOME BANCSHARES INC [HOMB] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Community Bank President & CEO (Last) (First) (Middle) P.O. BOX 966 3. Date of Earliest Transaction (Month/Day/Year) 01/15/2009 (Street) CONWAY, AR 72033 4. If Amendment, Date Original Filed(Month/Day/Year) 01/16/2009 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock               9,098.656 (2) (7) D   Common Stock               2,182.231 (2) (6) I By Daniel French Trust Common Stock               6,046.346 (2) (5) I By IRA Common Stock               1,444.773 (2) (4) I By Daniel French Irrevocable Trust Common Stock               6,035.827 (1) (2) I By 401(k)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Performance Stock Option

$ 12.2 (3)

01/15/2009

A

3,369 (8)

01/01/2010

03/13/2016

Common Stock

3,369 (2)

$ 0

20,217

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
French Tracy P.O. BOX 966 CONWAY, AR 72033			Community Bank President & CEO

Signatures

/s/Tracy French by Rachel Starkey		01/26/2009
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Includes 1034.233 shares acquired through the Home BancShares, Inc. 401(k) Plan since the last filing.
(2)	The reporting person received shares as a result of the Company declaring an 8% stock dividend to shareholders of record as of August 13, 2008 and made payable on August 27, 2008.
(3)	The exercise price decreased as a result of the Company declaring an 8% stock dividend to shareholders of record as of August 13, 2008 and made payable on August 27, 2008.
(4)	Includes 6.213 shares acquired through the Home BancShares, Inc. Dividend Reinvestment Plan since the last filing.
(5)	Includes 41.232 shares acquired through the Home BancShares, Inc. Dividend Reinvestment Plan since the last filing.
(6)	Includes 14.025 shares acquired through the Home BancShares, Inc. Dividend Reinvestment Plan since the last filing.
(7)	Includes 63.608 shares acquired through the Home BancShares, Inc. Dividend Reinvestment Plan since the last filing.
(8)	These performance based stock options were granted in March 2006 under the Home BancShares, Inc. 2006 Stock Option and Performance Incentive Plan. For the person to become elibile, the Company has to meet certain objectives each year. As a result of the Company's 2008 performance, 10% of the total options granted were approved for eligibility by the Company's Compensation Committee.

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