SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  FORM 10-KSB/A
                                 AMENDMENT NO. 1

|X|    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES
       EXCHANGE ACT OF 1934.

                     For the fiscal year ended June 30, 2003
                                  -------------

[ ]    TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
       AND EXCHANGE ACT OF1934

                For the transition period from ______ to _______.
                                 ------ -------

                        Commission file number: 000-29655

                           Alamogordo Financial Corp.
                 (Name of Small Business Issuer in Its Charter)

         Federal                                         74-281948
         -------                                         ---------
(State or Other Jurisdiction of          (I.R.S. Employer Identification Number)
 Incorporation or Organization)

          500 10th Street
       Alamogordo, New Mexico                                 88310
       ----------------------                                 -----
  (Address of Principal Executive                           (Zip Code)
              Offices)


                                 (505) 437-9334
                (Issuer's Telephone Number, Including Area Code)

Securities registered under Section 12(b) of the Exchange Act: None
                                                               ----

Securities registered under Section 12(g) of the Exchange Act:

                     Common Stock par value $.10 per share
                      -------------------------------------
                                (Title of Class)


     Check  whether  the issuer:  (1) filed all reports  required to be filed by
Section 13 or 15(d) of the  Exchange  Act during the past 12 months (or for such
shorter period that the  registrant was required to file such reports),  and (2)
has been subject to such filing requirements for the past 90 days.

Yes   X                 No
    -----                  -------

     Check if there is no disclosure of delinquent  filers  pursuant to Item 405
of  Regulation  S-B is not  contained in this form,  and no  disclosure  will be
contained to the best of the  registrant's  knowledge,  in  definitive  proxy or
information statements incorporated by reference in Part III of this Form 10-KSB
or any amendment to this Form 10-KSB. |X|

     The  Issuer's  revenues  for the fiscal year ended June 30, 2003 were $ 9.6
million.

     The aggregate market value of the voting stock held by nonaffiliates of the
Registrant,  computed  by  reference  to the  average of the closing bid and ask
price  of such  stock  on the OTC  Bulletin  Board  on  September  17,  2003 was
approximately $7.7 million.

     The number of shares outstanding of the Issuer's Common Stock, the issuer's
only class of outstanding capital stock, as of September 17, 2003 was 1,299,555.

                       Documents Incorporated by Reference

None

<PAGE>


     This  Amendment to the Form 10-KSB of Alamogordo  Financial  Corp. is being
filed to submit  Exhibit  16, the letter from  Accounting  &  Consulting  Group,
L.L.P., as required by Part II, Item 8 of Form 10-KSB.



<PAGE>


                                   SIGNATURES

     Pursuant  to the  requirements  of  Section  13 or 15(d) of the  Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.


                                                      ALAMOGORDO FINANCIAL CORP.


Date:    October 8, 2003                       By:      /s/ R. Miles Ledgerwood
                                                        -----------------------
                                                        R. Miles Ledgerwood
                                                        President


     Pursuant to the  requirements  of the  Securities  Exchange  of 1934,  this
report  has  been  signed  below  by the  following  persons  on  behalf  of the
Registrant and in the capacities and on the dates indicated.



By:    /s/ R. Miles Ledgerwood              By:  /s/ Norma J. Clute
      ----------------------------              ------------------------------
       R. Miles Ledgerwood, President            Norma J. Clute, Chief Financial
       and Director                               Officer and Treasurer
       (Principal Executive Officer)             (Principal Financial and
                                                  Accounting Officer)

Date:  October 8, 2003                      Date:    October 8, 2003



By:    /s/ Robert W. Hamilton                By: /s/ S. Thomas Overstreet
       ---------------------------               ------------------------------
       Robert W. Hamilton,                      S. Thomas Overstreet, Director
       Chairman of the Board                     and Vice Chairman

Date:  October 8, 2003                      Date:    October 8, 2003



By:    /s/ Jimmie D. Randall                 By: /s/ Earl E. Wallin
       ----------------------------             -------------------------------
         Jimmie D. Randall, Director             Earl E. Wallin, Director


Date:  October 8, 2003                       Date:    October 8, 2003



<PAGE>




                                   EXHIBIT 16


<PAGE>


              [letterhead of Accounting & Consulting Group, L.L.C.]

October 6, 2003

Securities and Exchange Commission
Washington, D.C. 20549

Re:       Alamogordo Financial Corp.
File No. 0-29655

Dear Sir or Madam:

We have read Item 8 of the Form  10-KSB of  Alamogordo  Financial  Corp.,  filed
September 29, 2003, and agree with the statements  concerning our Firm contained
therein.


Respectfully,

\s\ Marion Ledford

Marion Ledford, CPA
Accounting & Consulting Group, L.L.P.




<PAGE>


                                  EXHIBIT 31.1

<PAGE>


                    Certification of Chief Executive Officer
            Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

I, R. Miles Ledgerwood, President and Chief Executive Officer, certify that:

1.   I have reviewed  this Annual Report on Form 10-KSB of Alamogordo  Financial
     Corp.;

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

3.   Based on my  knowledge,  the  financial  statements,  and  other  financial
     information  included  in  this  report,  fairly  present  in all  material
     respects the financial  condition,  results of operations and cash flows of
     the small  business  issuer as of, and for,  the periods  presented in this
     report;

4.   The small business issuer's other certifying  officer and I are responsible
     for  establishing  and maintaining  disclosure  controls and procedures (as
     defined  in  Exchange  Act Rules  13a-15(e)  and  15d-15(e))  for the small
     business issuer and have:

     (a)  Designed  such  disclosure  controls  and  procedures,  or caused such
          disclosure   controls  and   procedures  to  be  designed   under  our
          supervision, to ensure that material information relating to the small
          business  issuer,  including its  consolidated  subsidiaries,  is made
          known to us by others within those entities,  particularly  during the
          period in which this report is being prepared;

     (b)  Evaluated the effectiveness of the small business issuer's  disclosure
          controls and procedures  and presented in this report our  conclusions
          about the effectiveness of the disclosure controls and procedures,  as
          of the  end of the  period  covered  by  this  report  based  on  such
          evaluation; and

     (c)  Disclosed  in this  report any change in the small  business  issuer's
          internal  control over financial  reporting  that occurred  during the
          small business issuer's most recent fiscal quarter (the small business
          issuer's  fourth fiscal  quarter in the case of an annual report) that
          has materially affected, or is reasonably likely to materially affect,
          the small business issuer's internal control over financial reporting;
          and

5.   The small business issuer's other certifying  officer and I have disclosed,
     based on our most recent  evaluation  of internal  control  over  financial
     reporting,  to the small business issuer's auditors and the audit committee
     of the small business  issuer's  board of directors (or persons  performing
     the equivalent functions):

     (a)  All significant  deficiencies and material weaknesses in the design or
          operation  of internal  control  over  financial  reporting  which are
          reasonably  likely to  adversely  affect the small  business  issuer's
          ability   to  record,   process,   summarize   and  report   financial
          information; and

     (b)  Any fraud, whether or not material,  that involves management or other
          employees who have a significant  role in the small business  issuer's
          internal control over financial reporting.

Date:    October 8, 2003                   /s/ R. Miles Ledgerwood
                                           ---------------------------
                                           R. Miles Ledgerwood
                                           President and Chief Executive Officer

<PAGE>


                                  EXHIBIT 31.2

<PAGE>


                    Certification of Chief Financial Officer
            Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

I, Norma J. Clute, Chief Financial Officer and Treasurer, certify that:

1.   I have reviewed  this Annual Report on Form 10-KSB of Alamogordo  Financial
     Corp.;

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

3.   Based on my  knowledge,  the  financial  statements,  and  other  financial
     information  included  in  this  report,  fairly  present  in all  material
     respects the financial  condition,  results of operations and cash flows of
     the small  business  issuer as of, and for,  the periods  presented in this
     report;

4.   The small business issuer's other certifying  officer and I are responsible
     for  establishing  and maintaining  disclosure  controls and procedures (as
     defined  in  Exchange  Act Rules  13a-15(e)  and  15d-15(e))  for the small
     business issuer and have:

     (a)  Designed  such  disclosure  controls  and  procedures,  or caused such
          disclosure   controls  and   procedures  to  be  designed   under  our
          supervision, to ensure that material information relating to the small
          business  issuer,  including its  consolidated  subsidiaries,  is made
          known to us by others within those entities,  particularly  during the
          period in which this report is being prepared;

     (b)  Evaluated the effectiveness of the small business issuer's  disclosure
          controls and procedures  and presented in this report our  conclusions
          about the effectiveness of the disclosure controls and procedures,  as
          of the  end of the  period  covered  by  this  report  based  on  such
          evaluation;  and (c)  Disclosed in this report any change in the small
          business  issuer's  internal  control over  financial  reporting  that
          occurred during the small business issuer's most recent fiscal quarter
          (the small business  issuer's  fourth fiscal quarter in the case of an
          annual report) that has materially  affected,  or is reasonably likely
          to materially  affect,  the small business  issuer's  internal control
          over financial reporting; and

5.   The small business issuer's other certifying  officer and I have disclosed,
     based on our most recent  evaluation  of internal  control  over  financial
     reporting,  to the small business issuer's auditors and the audit committee
     of the small business  issuer's  board of directors (or persons  performing
     the equivalent functions):

     (a)  All significant  deficiencies and material weaknesses in the design or
          operation  of internal  control  over  financial  reporting  which are
          reasonably  likely to  adversely  affect the small  business  issuer's
          ability   to  record,   process,   summarize   and  report   financial
          information; and

     (b)  Any fraud, whether or not material,  that involves management or other
          employees who have a significant  role in the small business  issuer's
          internal control over financial reporting.

Date:    October 8, 2003               /s/ Norma J. Clute
                                           -----------------------------------
                                           Norma J. Clute
                                           Chief Financial Officer and Treasurer