FORM 5 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). Form 3 Holdings Reported Form 4 Transactions Reported

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ANNUAL 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

OMB APPROVAL OMB Number: 3235-0362 Expires: January 31, 2005 Estimated average burden hours per response... 1.0

1. Name and Address of Reporting Person * Davis Brian 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) Director Financial Reporting (Last) (First) (Middle) P.O. BOX 966 3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year) 12/31/2008 (Street) CONWAY, AR 72033 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Reporting (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 at end of Issuer's Fiscal Year (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Amount (A) or (D) Price Common Stock             500 D   Common Stock             1,620 I By IRA Common Stock             2,387.286 (1) I By 401(k)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

SEC 2270 (9-02)

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 at End of Issuer's Fiscal Year (Instr. 4)

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

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

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Performance Stock Option

$ 12.2

Â

Â

Â

Â

Â

01/01/2010

03/13/2016

Common Stock

2,246

Â

2,246

D

Â

Stock Option

$ 20.48

Â

Â

Â

Â

Â

  (2)

08/28/2017

Common Stock

5,400

Â

5,400

D

Â

Stock Option

$ 11.73

Â

Â

Â

Â

Â

  (3)

  (4)

Common Stock

3,240

Â

3,240

D

Â

Stock Option

$ 25.01

Â

Â

Â

Â

Â

  (5)

10/16/2018

Common Stock

3,000

Â

3,000

D

Â

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Davis Brian P.O. BOX 966 CONWAY, AR 72033	Â	Â	  Director Financial Reporting	Â

Signatures

/s/ Brian Davis by Rachel Starkey		02/02/2009
**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 5.793 shares acquired through the Home BancShares, Inc. Dividend Reinvestment Plan since the last filing.
(2)	The option is exercisable in five equal annual installments. The first installment became exercisable on August 29, 2008.
(3)	The option is exercisable in five equal annual installments. The first installment became exercisable on November 22, 2005.
(4)	The option expires 10 years from the exercisable date, therefore the first installment became exercisable on November 22, 2005 and expires on November 22, 2015.
(5)	The option is exercisable in five equal annual installments. The first installment becomes exercisable on October 17, 2009.

Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.