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

                                     FORM 15

   CERTIFICATION  AND NOTICE OF TERMINATION OF REGISTRATION  UNDER SECTION 12(g)
   OF THE SECURITIES  EXCHANGE ACT OF 1934 OR SUSPENSION OF DUTY TO FILE REPORTS
   UNDER SECTION 13 AND 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


                         COMMISSION FILE NUMBER: 0-23525
                                                 -------

                         North Arkansas Bancshares, Inc.
- --------------------------------------------------------------------------------
               (Exact name of registrant as specified in charter)

                    200 Olivia Drive, Newport, Arkansas 72112
- --------------------------------------------------------------------------------
          (Address, including zip code, and telephone number, including
             area code, of registrant's principal executive offices)

                     Common Stock, par value $.01 per share
- --------------------------------------------------------------------------------
            (Title of each class of securities covered by this Form)

                                      None
- --------------------------------------------------------------------------------
   (Title of all other classes of securities for which a duty to file reports
                     under section 13(a) or 15(d) remains)

Please place an X in the box(es) to designate, the appropriate rule provision(s)
relied upon to terminate or suspend the duty to file reports:

         Rule 12g-4(a)(1)(i)   [X]                   Rule 12h-3(b)(1)(i)   [X]
         Rule 12g-4(a)(1)(ii)  [ ]                   Rule 12h-3(b)(1)(ii)  [ ]
         Rule 12g-4(a)(2)(i)   [ ]                   Rule 12h-3(b)(2)(i)   [ ]
         Rule 12g-4(a)(2)(ii)  [ ]                   Rule 12h-3(b)(2)(ii)  [ ]
                                                     Rule 15d-6            [ ]

Approximate number of holders of record as of the certification or notice date:
147
- ---

     Pursuant to the requirements of the Securities  Exchange Act of 1934, North
Arkansas Bancshares,  Inc. has caused this  certification/notice to be signed on
behalf by the undersigned duly authorized person.

Date:  January 23, 2001                     By:/s/ Brad Snider
                                               ---------------------------------
                                               Brad Snider, President