Item 1.02 Termination of a Material Definitive Agreement

On August 14, 2012, Alaska Pacific Bank (the "Bank") a wholly-owned subsidiary of Alaska Pacific Bancshares, Inc. ("Company"), announced that the Office of the Comptroller of the Currency ("OCC") had terminated the Stipulation and Consent to the Issuance of an Order to Cease and Desist ("Order") that the Bank entered into on September 20, 2010 with the Office of Thrift Supervision ("OTS"). The Order was administered by the OCC as the successor to the OTS. A copy of the press release is attached hereto as Exhibit 99.1, and the letter from the OCC terminating the Order is attached hereto as Exhibit 99.2; which is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

The following exhibits are being furnished herewith and this list shall constitute the exhibit index:

99.1 Press Release of Alaska Pacific Bancshares dated August 14, 2012.

99.2 OCC letter of Termination of Consent Order dated August 8, 2012

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