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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(Print or Type Responses)

1. Name and Address of Reporting Person * ALLISON JOHN W   2. Issuer Name and Ticker or Trading Symbol HOME BANCSHARES INC [HOMB] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) Chairman (Last) (First) (Middle) P.O. BOX 966 3. Date of Earliest Transaction (Month/Day/Year) 07/11/2011 (Street) CONWAY, AR 72033 4. If Amendment, Date Original Filed(Month/Day/Year) 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 07/11/2011   M   2,851 A $ 6.17 2,182,439 D   Common Stock 07/11/2011   M   712 A $ 7.01 2,183,151 D   Common Stock 07/11/2011   M   356 A $ 7.85 2,183,507 D   Common Stock 07/11/2011   M   160 A $ 5.17 2,183,667 D   Common Stock               109,222.5347 I By wife as custodian for son Common Stock - Restricted               8,044 (12) (13) D   Common Stock               16,832 I By Capital Buyers Common Stock               44,609 I By wife and son Common Stock               4,068 I By IRA Common Stock               213,840 I By wife

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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
Stock Option	$ 5.17	07/11/2011		M			160	(10)	(10)	Common Stock	160	$ 0	0	D
Stock Option	$ 6.17	07/11/2011		M			2,851	(2)	(2)	Common Stock	2,851	$ 0	2,852	D
Stock Option	$ 7.85	07/11/2011		M			356	(4)	(4)	Common Stock	356	$ 0	1,426	D
Stock Option	$ 7.01	07/11/2011		M			712	(3)	(3)	Common Stock	712	$ 0	1,070	D
Performance Stock Option	$ 11.09							01/01/2010	03/13/2016	Common Stock	44,478		44,478	D
Stock Option	$ 8.42							(5)	(5)	Common Stock	1,782		1,782	D
Stock Option	$ 9.83							(6)	(6)	Common Stock	1,782		1,782	D
Stock Option	$ 10.66							(7)	(7)	Common Stock	1,782		1,782	D
Stock Option	$ 10.66							07/27/2005	07/27/2015	Common Stock	89,100		89,100	D
Stock Option	$ 9.55							(8)	(8)	Common Stock	10,078		10,078	D
Stock Option	$ 20.33							(9)	01/18/2017	Common Stock	23,760		23,760	D
Stock Option	$ 17.07							(1)	01/17/2018	Common Stock	17,820		17,820	D
Stock Option	$ 17.21							(11)	01/09/2018	Common Stock	2,376		2,376	D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
ALLISON JOHN W P.O. BOX 966 CONWAY, AR 72033	X		Chairman

Signatures

/s/John W. Allison by Rachel Starkey		07/13/2011
**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)	The option became exercisable in five equal annual installments beginning on January 18, 2009.
(2)	The option is exercisable in five equal annual installments and expires 10 years from the exercisable date, therefore the first installment became exercisable on December 31, 2000 and would have expired on December 31, 2010.
(3)	The option is exercisable in five equal annual installments and expires 10 years from the exercisable date, therefore the first installment became exercisable on December 31, 2001 and expires on December 31, 2011.
(4)	The option is exercisable in five equal annual installments and expires 10 years from the exercisable date, therefore the first installment became exercisable on December 31, 2002 and expires on December 31, 2012.
(5)	The option is exercisable in five equal annual installments and expires 10 years from the exercisable date, therefore the first installment became exercisable on December 31, 2003 and expires on December 31, 2013.
(6)	The option is exercisable in five equal annual installments and expires 10 years from the exercisable date, therefore the first installment became exercisable on December 31, 2004 and expires on December 31, 2014.
(7)	The option is exercisable in five equal annual installments and expires 10 years from the exercisable date, therefore the first installment became exercisable on December 31, 2005 and expires on December 31, 2015.
(8)	1,440 options have an expiration date of December 31, 2013 and 1,728 options have an expiration date of December 31, 2014. The remaining 6,910 options vested on January 1, 2005 with an expiration date of January 1, 2015.
(9)	The option became exercisable in two equal annual installments beginning on January 19, 2008.
(10)	160 options have an expiration date of 3/20/2012.
(11)	The option became exercisable in five equal annual installments beginning on January 10, 2009.
(12)	Restricted Stock granted on January 22, 2010 will vest in 33 1/3% installments over three years each January 22nd. The 2009 participation by the Company in the United States Department of the Treasury's Trouble Asset Relief Program includes additional contingencies related to this restricted stock.
(13)	Restricted Stock granted on February 2, 2011 will vest in 33 1/3% installments over three years each February 2nd. The 2009 participation by the Company in the United States Department of the Treasury's Trouble Asset Relief Program includes additional contingencies related to this restricted stock.

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