Marcie Benvin, Mortgage Originator, Relieved of Duties

Alaska Pacific Bancshares, Inc. (OTCBB: AKPB) President and CEO Craig E. Dahl announced today that Marcilin "Marcie” Benvin was relieved of her duties as a Mortgage Loan Officer for Alaska Pacific Mortgage, a division of Alaska Pacific Bank, the sole subsidiary of Alaska Pacific Bancshares, Inc. This action follows the announcement of a Federal indictment on fraud charges in Reno, Nevada stemming from actions in 2008 involving a mortgage company which was owned by Mrs. Benvin.

Craig E. Dahl, President and Chief Executive Officer of the Bank stated, "Mrs. Benvin had no management authority within the mortgage division. The Bank’s internal review processes, which include independent underwriting, ensure that the work performed by Mrs. Benvin while with Alaska Pacific Bank was done in compliance with all Bank and regulatory guidelines.

"Trust and excellent customer service are essential to our business and it is important for the customers to feel confident in our commitment to that standard,” Dahl added.

Alaska Pacific Bank is a locally-owned community bank, serving Southeast Alaska since 1935. The Bank offers a full range of banking services to individuals, families and business through its offices in Juneau, Ketchikan, and Sitka, Alaska. The Bank is a federally-chartered savings bank headquartered in Juneau, Alaska, and is the sole subsidiary of Alaska Pacific Bancshares, Inc.