EXHIBIT 99.1

[First Federal Bancshares of Arkansas, Inc. Logo]                          FOR
                                                                     IMMEDIATE
                                                                       RELEASE


1401 Highway 62/65 North                      FOR FURTHER INFORMATION CONTACT:
P. O. Box 550                                    Larry J. Brandt/President-CEO
Harrison, AR  72602                                   Tommy Richardson/EVP-COO
                                                       Sherri Billings/EVP-CFO
                                                                  870-741-7641


                FIRST FEDERAL BANCSHARES OF ARKANSAS, INC.
                ANNOUNCES STOCK REPURCHASE PROGRAM ACTIVITY

Harrison, Arkansas - December 2, 2005 (NASDAQ NMS:FFBH) First Federal
Bancshares of Arkansas, Inc. (the "Corporation"), a unitary savings and loan
holding company for First Federal Bank of Arkansas, FA (the "Bank") announced
today that the Corporation had completed its previously announced stock
repurchase.  The action, which consisted of a repurchase of 251,801 shares of
the Corporation's issued and outstanding shares, commenced on February 7, 2005
and was completed on December 1, 2005.  Such shares will be reflected as
treasury shares and will be available for general corporate purposes.

In addition, First Federal Bancshares of Arkansas, Inc., announced today that
its Board of Directors authorized the repurchase of up to 248,316 shares, or
approximately 5 percent, of the Corporation's outstanding common stock.

Repurchases are authorized to be made by the Corporation from time to time in
open-market transactions as, in the opinion of management, market conditions
warrant.  The repurchased shares will be held as treasury stock and will be
available for general corporate purposes.

Larry J. Brandt, President/CEO of the Corporation, stated that "the stock
repurchase reflects management's commitment to enhance shareholder value.  We
believe the repurchase of our stock is a wise and prudent use of excess
capital."

As of September 30, 2005, the Corporation had total assets of $840.9 million.
The Bank, in its 71st year, conducts business from 16 full-service branch
locations, one stand-alone loan production office, and 27 ATMs located in
Northcentral and Northwest Arkansas.  For information on all the products and
services we offer, visit us at www.ffbh.com or contact our Account Information
Center at (870) 365-8329 or (866) AIC-FFBH toll free or by email at
aic@ffbh.com.










                                    1