SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549


                           --------------------------

                                    FORM 8-K
                                 CURRENT REPORT
                       PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934



        Date of Report (Date of earliest event reported): August 22, 2002



                              HCB BANCSHARES, INC.
  -----------------------------------------------------------------------------
             (Exact Name of Registrant as Specified in Its Charter)



         OKLAHOMA                      0-22423                62-1670792
- ----------------------------     ----------------------      -------------------
(State or Other Jurisdiction     Commission File Number       (I.R.S. Employer
    of Incorporation)                                        Identification No.)


        237 JACKSON STREET, SW, CAMDEN, ARKANSAS            71701
    ------------------------------------------------------------------------
        (Address of Principal Executive Offices)          (Zip Code)



       Registrant's Telephone Number, Including Area Code: (870) 836-6841
                                                           --------------


                                 NOT APPLICABLE
- --------------------------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)





ITEM 5.    OTHER EVENTS.
           -------------

     On August 22, 2002, the Board of Directors of the Registrant announced that
it was commencing a stock  repurchase  program to acquire up to 75,171 shares of
its common stock, representing approximately 5% of the outstanding common stock.
The program will be dependent  upon market  conditions and there is no guarantee
as to the  exact  number  of shares to be  repurchased  by the  Registrant.  The
Registrant  also  announced  that it had  completed  its stock  repurchase  plan
announced on April 19, 2002,  repurchasing  79,128 shares at an average price of
$16.33.

     Further information  regarding the stock repurchase is set forth in a press
release dated August 22, 2002, attached as Exhibit 99 and incorporated herein by
reference.

ITEM 7.    FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
           ------------------------------------------------------------------

     The  following  exhibits are being filed as part of this Current  Report on
Form 8-K:

         Number             Description
         ------             -----------

          99                Press Release dated August 22, 2002



                                   SIGNATURES


     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.



                                          HCB BANCSHARES, INC.


Dated: August 26, 2002                    By:/s/ Cameron D. McKeel
                                             -----------------------------------
                                             Cameron D. McKeel
                                             President
                                             (Duly Authorized Representative)