**EXHIBIT 31.2**

 

**PURSUANT TO RULES 13a-14 AND 15d-14 OF THE SECURITIES EXCHANGE ACT OF1934 AND SECTION 302OF THE SARBANES-OXLEY ACT OF 2002**

**CERTIFICATION OF CHIEF FINANCIAL OFFICER**

 

I, Sherri R. Billings, certifythat:

 

1.     Ihave reviewed this quarterly report on Form 10-Q of First Federal Bancshares ofArkansas, Inc. (the “Registrant”);

 

2.     Basedon my knowledge, this report does not contain any untrue statement of amaterial fact or omit to state a material fact necessary to make the statementsmade, in light of the circumstances under which such statements were made, notmisleading with respect to the period covered by this quarterly report;

 

3.     Basedon my knowledge, the financial statements, and other financial informationincluded in this report, fairly present in all material respects the financialcondition, results of operations and cash flows of the Registrant as of, andfor, the periods presented in this report;

 

4.     TheRegistrant’s other certifying officers and I are responsible for establishingand maintaining disclosure controls and procedures (as defined in Exchange ActRules 13a-15e and 15d-15e) and internal control over financial reporting (asdefined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Registrant andhave:

 

a)     designedsuch disclosure controls and procedures, or caused such disclosure controls andprocedures to be designed under our supervision, to ensure that materialinformation relating to the Registrant, including its consolidatedsubsidiaries, is made known to us by others within those entities, particularlyduring the period in which this quarterly report is being prepared;

 

b)    designedsuch internal control over financial reporting, or caused such internal controlover financial reporting to be designed under our supervision, to providereasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes in accordance withgenerally accepted accounting principles;

 

c)     evaluatedthe effectiveness of the Registrant’s disclosure controls and procedures andpresented in this report our conclusions about the effectiveness of thedisclosure controls and procedures, as of the end of the period covered by thisreport based on such evaluation; and

 

d)    disclosedin this report any change in the Registrant’s internal control over financialreporting that occurred during the Registrant’s fiscal quarter that hasmaterially affected, or is reasonably likely to materially affect, theRegistrant’s internal control over financial reporting; and

 

5.     TheRegistrant’s other certifying officers and I have disclosed, based on our mostrecent evaluation of internal control over financial reporting, to theRegistrant’s auditors and the audit committee of Registrant’s board of directors(or persons performing the equivalent functions):

 

a)     allsignificant deficiencies and material weaknesses in the design or operation ofinternal control  over financialreporting which are reasonably likely to adversely affect the Registrant’sability to record, process, summarize and report financial information; and

 

b)    anyfraud, whether or not material, that involves management or other employees whohave  a significant role in theRegistrant’s internal control over financial reporting.
|                  |                     |
|-----------------------|--------------------------|
| Date: April  25, 2006 | /s/ Sherri  R. Billings  |   |
|                  | Sherri R.  Billings      |
|                  | Chief  Financial Officer |

 

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