Alaska Pacific Bancshares, Inc. reported unaudited earnings results for the third quarter ended September 30, 2009. For the quarter, the company reported interest income of $2.45 million against interest income of $3.06 million a year ago. Net interest income was $2.02 million against $2.27 million a year ago. Net loss before income tax was $759,000, net loss of $465,000, net loss available to common shareholders of $540,000 or $0.83 per share against net loss before income tax of $1.08 million, net loss of $672,000, net loss available to common shareholders of $672,000 or $1.03 per share reported a year ago. Return on average equity was negative at 8.84% against 15.28% a year ago. Return on average assets was negative at 1.01% against 1.35% a year ago. Book value per share as at September 30, 2009 was $24.47 against $26.33 on September 30, 2008.

Alaska Pacific Bancshares Inc. reported unaudited earnings results for the second quarter ended June 30, 2009. For the quarter, the company reported net income available to common shareholders of $66,000 or $0.10 per diluted share on net interest income of $2,070,000 against net loss available to common shareholders of $761,000 or $1.14 per diluted share on net interest income of $2,209,000 for the same period a year ago. Interest income was $2,593,000 against $3,052,000 for the same period a year ago. Income before income tax was $233,000 against loss of $1,223,000 for the same period a year ago. Return on average equity was 2.63% against negative return on average equity of 16.57% for the same period a year ago. Return on average assets was 0.30% against negative return on average assets of 1.57% for the same period a year ago. Book value per share was $25.25 against $27.43 for the same period a year ago.

On June 18, 2009, Alaska Pacific Bancshares Inc. announced that Roger Grummett informed the Board of Directors of his intention to retire from the Board, effective upon the expiration of his term in May 2010. Mr. Grummett serves on the Company's and the Bank's Audit Committee, Compensation Committee and the Corporate Governance and Nominating Committee.