- Initial Statement of Beneficial Ownership (3)

FORM 3	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0104 Expires: February 28, 2011 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^*

Wewers Christopher M.

2. Date of Event Requiring Statement (MM/DD/YYYY) 5/3/2011

3. Issuer Name and Ticker or Trading Symbol

FIRST FEDERAL BANCSHARES OF ARKANSAS INC [FFHB]

(Last) (First) (Middle)

FIRST FEDERAL BANCSHARES OF ARKANSAS INC, P.O. BOX 550

4. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director _____ 10% Owner
___ X ___ Officer (give title below) _____ Other (specify below)
EVP & Chief Operating Officer /

(Street)

HARRISON, AR 72602

(City) (State) (Zip)

5. If Amendment, Date Original Filed (MM/DD/YYYY)

6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

*Table II - Derivative Securities Beneficially Owned ( e.g.* , puts, calls, warrants, options, convertible securities)**
1. Title of Derivate Security (Instr. 4)	2. Date Exercisable and Expiration Date (MM/DD/YYYY)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivate Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security		6. Nature of Indirect Beneficial Ownership (Instr. 5)
Warrant (right to buy) ⁽¹⁾	5/3/2011	⁽²⁾	Common Stock	95000	$3	D

Explanation of Responses:
( 1)	On May 3, 2011, Bear State Financial Holdings, LLC ("Bear State") assigned a warrant representing the right to purchase 95,000 shares of common stock of First Federal Bancshares of Arkansas, Inc. (the "Issuer") to Mr. Wewers prior to his appointment as Executive Vice President and Chief Operating Officer of the Issuer. Mr. Wewers is prohibited from further assigning or transferring the warrant, except for estate planning purposes, and may not exercise the warrant without the prior written consent of Bear State.
( 2)	The warrant expires on the three year anniversary of the Second Closing (as defined in the Investment Agreement dated January 27, 2011 between the Issuer, First Federal Bank (the Issuer's wholly-owned subsidiary) and Bear State).

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Wewers Christopher M. FIRST FEDERAL BANCSHARES OF ARKANSAS INC P.O. BOX 550 HARRISON, AR 72602			EVP & Chief Operating Officer

Signatures
Christopher M. Wewers		5/11/2011
^** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.