Ownership Submission
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 __X__ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chairman and CEO
(Last)
(First)
(Middle)
P.O. BOX 966		 3. Date of Earliest Transaction (Month/Day/Year)
01/10/2008
(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               2,161,149 D  
Common Stock               14,169 I By Capital Buyers
Common Stock               180,000 I By wife
Common Stock               90,484.597 (1) I By wife as custodian for daughter
Common Stock               90,484.597 (1) I By wife as custodian for son
Common Stock               3,425 I By IRA

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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 $ 13.18 01/10/2008   A   12,480 (2)   01/01/2010 03/13/2016 Common Stock 24,960 $ 13.18 24,960 D  
Stock Option $ 7.33               (3)   (3) Common Stock 6,000   6,000 D  
Stock Option $ 8.33               (4)   (4) Common Stock 1,500   1,500 D  
Stock Option $ 9.33               (5)   (5) Common Stock 1,500   1,500 D  
Stock Option $ 10               (6)   (6) Common Stock 1,500   1,500 D  
Stock Option $ 11.67               (7)   (7) Common Stock 1,500   1,500 D  
Stock Option $ 12.67               (8)   (8) Common Stock 1,500   1,500 D  
Stock Option $ 12.67             07/27/2005 07/27/2015 Common Stock 75,000   75,000 D  
Stock Option $ 11.34               (9)   (9) Common Stock 8,484   8,484 D  
Stock Option $ 24.15               (10) 01/18/2017 Common Stock 20,000   20,000 D  
Stock Option $ 6.14               (11)   (11) Common Stock 2,844   2,844 D  
Stock Option $ 20.44 01/10/2008   A   2,000     (12) 01/09/2018 Common Stock 2,000 $ 20.44 2,000 D  

Reporting Owners

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

Signatures

 /s/ John W. Allison by Jessica Thurman   01/11/2008
**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 343.6737 shares acquired through the Home BancShares, Inc. Dividend Reinvestment Plan since the last filing.
(2) 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 eligible, the Company has to meet certain objectives each year. As a result of the Company's 2007 performance, 20% of the total options granted were approved for eligibility by the Company's Compensation Committee.
(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, 2000 and expires on December 31, 2010.
(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, 2001 and expires on December 31, 2011.
(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, 2002 and expires on December 31, 2012.
(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, 2003 and expires on December 31, 2013.
(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, 2004 and expires on December 31, 2014.
(8) 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.
(9) 1,212 options have an expiration date of December 31, 2013 and 1,454 options have an expiration date of December 31, 2014. The remaining 5,818 options vested on January 1, 2005 with an expiration date of January 1, 2015.
(10) The option is exercisable in two equal annual installments beginning on January 19, 2008.
(11) 1,935 options have an expiration date of 12/31/2009 and 774 options have an expiration date of 3/31/2011. The remaining 135 options have an expiration date of 3/20/2012.
(12) The option is exercisable in five equal annual installments beginning on January 10, 2009.

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