HCB
BANCSHARES, INC.


PRESS RELEASE                                     FOR IMMEDIATE RELEASE
                                                  ---------------------
                                                  Contact: Cameron D. McKeel
                                                  Telephone No.: 870.836.6841
                                                  Facsimile No.: 870.836.2122
                                                  April 12, 2002


                  HCB BANCSHARES, INC. ANNOUNCES FINAL RESULTS
                                 OF TENDER OFFER

     Camden, Arkansas ... HCB Bancshares,  Inc. (NASDAQSC: HCBB) announced today
final results of the modified dutch auction tender offer that expired on Friday,
April 5, 2002.  Consistent with preliminary  results released April 8, 2002, HCB
Bancshares,  Inc.  will  purchase  all 306,765  shares  tendered at the price of
$14.75 per share.  The value of the shares to be  purchased  is $4.5 million and
the  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 12,
2002.  After the  transaction,  there will be  1,582,564  shares of common stock
outstanding.

     "We are pleased with the success of the tender offer," stated President and
Chief  Executive  Officer  Cameron D.  McKeel.  "At the price level at which the
shares were repurchased, this transaction is accretive to earnings per share."

     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.