UNITED
      STATES


SECURITIES
      AND EXCHANGE COMMISSION


WASHINGTON,
      D.C. 20549





Form
      8-K





CURRENT
      REPORT





Pursuant
      to Section 13 or 15(d) of


The
      Securities Exchange Act of 1934





Date
      of
      Report (Date of earliest event reported): October 19, 2006





AJS
      BANCORP, INC.


(Exact
      Name of Registrant as Specified in Charter)





Federal
            000-33405
            36-4485429(State
                or Other Jurisdiction)
            (Commission
                File No.)
            (I.R.S.
                Employerof
                Incorporation)
            
            Identification
                No.)








14757
                South Cicero Avenue, Midlothian, Illinois
            60445(Address
                of Principal Executive Offices)
            (Zip
                Code)








Registrant's
      telephone number, including area code:  (708)
      687-7400











Not
      Applicable


(Former
      name or former address, if changed since last report)








Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions (see General Instruction A.2. below):





o  Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)





o  Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)





o  Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))





o  Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))





**Item
                  1.01.**
              **Entry
                  into a Material Definitive
                  Agreement**
 
 On
        October 17, 2006, the Board of Directors of AJS Bancorp, Inc. (the “Company”)
        approved a one-year extension of the Employment Agreement (the “Agreement”),
        between the Company and Lyn G. Rupich, President and Chief Operating Officer.
        The content of the Agreement is significantly the same as
        the Agreement dated October 22, 2005 between the Bank and Lyn G. Rupich
        previously approved and filed with the Securities and Exchange Commission.
 
 **Item
                  2.02**
              **Results
                  of Operations and Financial
                  Condition**
  The
        Company is announcing by this filing its September 30, 2006 financial results
        and declaration of dividend. The information on financial results and
        declaration of dividend is attached as Exhibit 99.1. The information included
        in
        Exhibit 99.1 is considered to be “furnished” under the Securities Exchange Act
        of 1934.
 
 **Item
                  9.01**
              **Financial
                  Statements and Exhibits**(a)
              Financial
                  Statements of businesses acquired. Not Applicable.(b)
              Pro
                  forma financial information. Not Applicable.(c)
              Exhibits.The
                  following Exhibit is attached as part of this
                  report
 
 99.1
              Announcement
                  of the results of operations and dividend declaration, for AJS
                  Bancorp,
                  Inc. for September 30,
                  2006.





**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, hereunto
      duly authorized.





**AJS
                BANCORP, INC.**DATE:
                October 19, 2006
            By:
                /s/ Lyn G. RupichLyn
                G. RupichPresident/Chief
                Operating Officer