HCB
BANCSHARES, INC.


PRESS RELEASE                              FOR IMMEDIATE RELEASE
                                           ---------------------
                                           Contact: Cameron D. McKeel
                                           Telephone No.: 870.836.6841
                                           Facsimile No.: 870.836.2122
                                           April 8, 2002


               HCB BANCSHARES, INC. ANNOUNCES PRELIMINARY RESULTS
                                 OF TENDER OFFER

     Camden, Arkansas ... HCB Bancshares,  Inc. (NASDAQSC: HCBB) announced today
preliminary  results of the modified  dutch auction tender offer that expired on
Friday,  April 5, 2002.  Approximately  306,765  shares were  tendered,  and HCB
Bancshares  expects to purchase all 306,765 of these shares at a price of $14.75
per share.  Both the number of shares  and the share  price set forth  above are
preliminary and are subject to verification by Registrar & Trust Company,  which
acted as the  depositary  in the  offer.  The  actual  number  of  shares  to be
purchased  and the price per share will be  announced  within  several days upon
completion of the verification  process.  It is currently  expected that payment
for all shares purchased will be made on or about Friday, April 12, 2002.

     The tender offer was commenced on January 31, 2002.  Under the terms of the
offer,  HCB Bancshares,  Inc.  offered to repurchase up to 377,866 shares of its
common stock within a price range of $12.75 per share to $14.75 per share. Based
upon the  preliminary  results,  the value of the shares to be purchased will be
$4.5  million.  The  preliminary  number of shares  to be  purchased  represents
approximately  16.2% of HCB Bancshares,  Inc.'s 1,889,329 shares of common stock
outstanding  on April 5,  2002.  This  16.2%  share  repurchase  is one tool the
company has utilized in  conjunction  with regular cash  dividends  and on-going
share  repurchases  to enhance  stockholder  value.  The board of directors will
continue to explore  and  implement  all  possible  ways to enhance  stockholder
value.

     HCB Bancshares,  Inc. is the holding company for HEARTLAND  Community Bank,
which conducts business through its main office located in Camden,  Arkansas and
five branch offices located in Bryant, Camden, Fordyce, Monticello and Sheridan,
Arkansas.