Exhibit 12.1

Home BancShares, Inc.

Computation of Ratios of Earnings to Fixed Charges and Preferred Share Dividends

	Six Months Ended
	June 30,				Year Ended December 31,
Exhibit	2009		2008		2008		2007		2006		2005		2004
(In thousands, except ratios)
Fixed Charges and Preferred Dividends
Interest expense	$	20,237	$	30,819	$	56,552	$	70,776	$	57,949	$	33,985	$	10,012
Capital debt expense Trust Preferred		1,335		1,545		3,114		3,002		2,991		2,017		1,568
Estimated interest in rent		160		163		332		284		261		206		113
Preferred dividends (E)		1,146		—		—		—		359		574		529
Combined fixed charges and preferred dividends (B)		22,878		32,527		59,998		74,062		61,560		36,782		12,222
Less: interest on deposits		15,249		25,141		45,593		56,232		46,213		26,883		7,606
Combined fixed charges and preferred dividends excluding interest on deposits (D)	$	7,629	$	7,386	$	14,405	$	17,830	$	15,347	$	9,899	$	4,616
Earnings
Pre-tax income from continuing operations	$	16,797	$	19,080	$	12,036	$	28,964	$	23,165	$	16,381	$	14,771
Fixed charges and preferred dividends		22,878		32,527		59,998		74,062		61,560		36,782		12,222
Total earnings (A)		39,675		51,607		72,034		103,026		84,725		53,163		26,993
Less: interest on deposits		15,249		25,141		45,593		56,232		46,213		26,883		7,606
Total earnings excluding interest on deposits (C)	$	24,426	$	26,466	$	26,441	$	46,794	$	38,512	$	26,280	$	19,387
Ratio of earnings to fixed charges & preferred dividends
Ratio, including interest on deposits (A/(B-E))		1.83x		1.59x		1.20x		1.39x		1.38x		1.47x		2.31x
Ratio, excluding interest on deposits (C/(D-E))		3.77x		3.58x		1.84x		2.62x		2.57x		2.82x		4.74x
Ratio of earnings to fixed charges & preferred dividends
Ratio, including interest on deposits (A/B)		1.73x		1.59x		1.20x		1.39x		1.38x		1.45x		2.21x
Ratio, excluding interest on deposits (C/D)		3.20x		3.58x		1.84x		2.62x		2.51x		2.65x		4.20x