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                                                                    EXHIBIT 23.3




                        [FERGUSON & CO., LLP LETTERHEAD]




                                March 20, 1997




Board of Directors
Heartland Community Bank
237 Jackson Street Southwest
Camden, Arkansas  71701

Dear Directors:

         We hereby consent to the use of our firm's name in the Form AC
Application for Conversion of Heartland Community Bank, Camden, Arkansas and any
amendments thereto, and in the Form SB-2 Registration Statement of HCB
Bancshares, Inc., and any amendments thereto. We also hereby consent to the
inclusion of, summary of, and references to our Appraisal Report and our opinion
concerning subscription rights in such filings including the Prospectus of HCB
Bancshares, Inc.

                                   Sincerely,


                                   /s/ Charles M. Hebert
                                   --------------------------------------------
                                   Charles M. Hebert
                                   Principal