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                       SECURITIES AND EXCHANGE COMMISSION
                                        
                             Washington, D.C. 20549


                                  FORM 10-Q/A
                                        
                                AMENDMENT NO. 1+
                                        


[X]  Quarterly Report Pursuant to Section 13 or 15 (d) of the Securities
     Exchange Act of 1934 for the quarterly period ended JUNE 30, 1998

[ ]  Transition report under Section 13 or 15(d) of the Exchange Act for the
     transition period from ____________ to ____________

                        Commission file number:  0-25422

                              PAB BANKSHARES, INC.
       (Exact name of small business issuer as specified in its charter)

       GEORGIA                                            58-1473302
(State of Incorporation)                    (I.R.S. Employer Identification No.)

                        3102 NORTH OAK STREET EXTENSION
                            VALDOSTA, GEORGIA  31602
                    (Address of principal executive offices)

                                 (912) 241-2775
                (Issuer's telephone number, including area code)

Check whether the issuer (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act of 1934 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 [ ]

The number of shares outstanding of the Issuer's class of common stock, no par
value (the "Common Stock") at June 30, 1998 was 7,372,635 shares.

    Transitional Small Business Disclosure Format:    Yes [ ]   No [X]

+  This Amendment No. 1 on Form 10-Q/A amends and restates "Item 2.  Changes in
Securities and Use of Proceeds." to the previously filed Form 10-Q for the
quarter ended June 30, 1998.
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                           PART II. OTHER INFORMATION

ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS.
         ----------------------------------------- 

     On June 19, 1998, PAB Bankshares, Inc. (the "Company") issued 1,135 shares
(the "Shares") of the Company's common stock, no par value, to Tracy A. Dixon
(the "Shareholder") in exchange for 379 shares of common stock, par value $.10
per share, of Investors Financial Corporation ("Investors"), in a merger of
Investors with and into the Company.  The Shares were issued pursuant to the
exemption contained in Section 4(2) of the Securities Act of 1933, as amended,
in a transaction by the issuer not involving a public offering.  The Shareholder
has represented to the Company that his acquisition of the Shares was for
investment only and not with a view to or for sale in connection with any
distribution thereof. Other factors relied on by the Company in determining that
an exemption from registration was available included (i) Shareholder's status
as President and Chief Executive Officer of Investors prior to its merger with
and into the Company and (ii) Shareholder's access to information concerning the
Company, both through due diligence and his review of publicly available
documentation concerning the Company.
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                                   SIGNATURES
                                   ----------
                                        
     Pursuant to the requirements 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.

Date:  November 6, 1998       By: /s/ R. Bradford Burnette
                                  ----------------------------------------------
                                  R. Bradford Burnette
                                  (President and Chief Executive Officer)

Date:  November 6, 1998       By: /s/ C. Larry Wilkinson
                                  ----------------------------------------------
                                  C. Larry Wilkinson
                                  (Executive Vice President and Chief Financial
                                    Officer)