|UNITED STATES                                                                   
|--------------------------------------------------------------------------------
|SECURITIES AND EXCHANGE
      COMMISSION                                        
|Washington, D.C. 20549                                                          
|                                                                                
|FORM 10-KSB/A                                                                   
|Amendment No. 1                                                                 
|                                                                                
|[X]                                                                             
|                                                                                
|                                                                                
|[
      ]                                                                       
|                                                                                
|                                                                                
|                                                                                
|                                                                                
|(Name of small business issuer in its
      charter)                            
|                                                                                
|(State or other jurisdiction of incorporation or
      organization)            
|                                                                                
|2094 Jordan Avenue, Juneau, Alaska
      99801                                  
|(Address of principal executive offices)                                        
|                                                                                
|Issuers telephone number (907) 789-4844                                        
|                                                                                
|Securities registered pursuant to Section 12(b) of the
      Exchange Act:  None
|                                                                                
|Securities registered pursuant to Section 12(g) of the
      Exchange Act:      
|                                                                                

Check
whether the issuer is not required to file reports pursuant to Section 13 or
15(d) of the Exchange Act. [ ] 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 in response to Item 405 of Regulation S-B 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 amendments to this Form 10-KSB.
[X]

Indicate by
check mark whether the registrant is a shell company (as defined in Rule 12b-2
of the Exchange Act). Yes [ ] No [X] The issuers revenues for the
fiscal year were $11.3 million. As of March 25, 2006, there were issued
and outstanding 627,754 shares of the registrants Common Stock, which are
traded on the over-the-counter market through the OTC Electronic Bulletin
Board under the symbol AKPB. Based on the average of the bid and asked prices
for the Common Stock on March 24, 2006, the aggregate value of the Common Stock
outstanding held by nonaffiliates of the registrant was $12.5 million (575,321
shares at $21.30 per share). For purposes of this calculation, officers and
directors of the registrant are considered nonaffiliates.



|DOCUMENTS INCORPORATED BY
  REFERENCE
|-------------------------------------

|1. | Portions of the Annual Report to Stockholders for the
      Fiscal Year Ended December 31, 2005 (Parts I and II)
|-- | ----------------------------------------------------------------------------------------------------------------
|  
|2. | Portions of the Proxy Statement for the 2006 Annual
      Meeting of Stockholders (Part III)                    
|  

Transitional
Small Business Disclosure Format (check one) Yes NoX

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|EXPLANATORY NOTE
|----------------

This Amendment No.
1 on Form 10-KSB/A (Amendment) amends the Annual Report on Form 10-KSB for the
year ended December 31, 2005 ("Original Report") of Alaska Pacific Bancshares,
Inc. ("Company"), and is being filed solely for the purpose of reflecting the
signature of the Companys independent Registered Accounting Firm, Moss Adams
LLP, on their Report of Independent Registered Public Accounting Firm included
in the Companys 2005 Annual Report to Shareholders, filed as Exhibit 13 to the
Original Report. Thus, only Exhibit 13 to the Original Report, and currently
dated, but otherwise unchanged, certifications (Exhibits 31.1, 31.2, 32.1 and
32.2) are being filed in this Amendment.

Except for the modification described
above, this Amendment does not modify or update the Companys previously
reported financial statements and other financial disclosures in, or exhibits
to, the Original Report, nor does it reflect events occurring after the date of
the Original Report. Unaffected items and exhibits have not been repeated in
this Amendment.

- 2
-

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|SIGNATURES
|----------

Pursuant to the requirements of section 13 or 15(d) of the
Securities Exchange Act of 1934, the registrant has duly caused this amended
report to be signed on May 11, 2006, on its behalf by the undersigned, thereunto
duly authorized.

ALASKA
PACIFIC BANCSHARES, INC.

/s/
Craig E.
Dahl                                                                                                                _________________________________Craig
E. DahlPresident
and Chief Executive Officer(Duly
Authorized Representative)

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|Exhibit 13
|----------

Annual
Report to Stockholders

---



|Exhibit 31.1
|------------

Certification RequiredBy Rules 13a-14 and 15d-14 under the Securities
Exchange Act of 1934

I, Craig E.
Dahl, President and Chief Executive Officer, certify that:

|1. | I
      have reviewed this Annual Report on Form 10-KSB, of Alaska Pacific
      Bancshares, Inc.;                                                                                                                                                                                                                                                                                                                                                 
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|  
|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 a material fact necessary
      to make the statements made, in light of the circumstances under which
      suchstatements 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 registrant as of, and for, the periods presented in this
      report;                                                                                                                                    
|  
|4. | The
      registrants other certifying officer(s) 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 registrant
      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 registrant, 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 registrant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 registrants internal control
      over financial reporting that occurred during the registrants most recent
      fiscal quarter (the registrants fourth fiscal quarter in the case of an
      annual report) that has materially affected, or is reasonably likely to
      materially affect, the registrants internal control over financial
      reporting; and                    
|  
|5. | The
      registrants other certifying officer(s) and I have disclosed, based on
      our most recent evaluation of internal control over financial reporting,
      to the registrants auditors and the audit committee of the registrant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 registrant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 registrants internal control
      over financial reporting.                                                                                                                                                                                                                                                   
|  

Date:
  May 11,
2006                                                             
/s/ Craig E.
Dahl                                                                                              _____________________________                                                                                              Craig
E.
Dahl                                                                                               President
and Chief Executive Officer

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|Exhibit 31.2
|------------

Certification RequiredBy Rules 13a-14 and 15d-14 under the Securities
Exchange Act of 1934

I, Roger K.
White, Senior Vice President and Chief Financial Officer, certify
that:

1.
    I
      have reviewed this Annual Report on Form 10-KSB, of Alaska Pacific
      Bancshares, Inc.;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 a material fact necessary
      to make the statements made, in light of the circumstances under which
      suchstatements 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 registrant as of, and for, the periods presented in this
      report;4.
    The
      registrants other certifying officer(s) 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 registrant
      and have:(a)
      Designed such disclosure controls and procedures, or caused such
      disclosure controls and proceduresto
      be designed under our supervision, to ensure that material information
      relating to the registrant, 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 registrant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 registrants internal control
      over financial reporting that occurred during the registrants most recent
      fiscal quarter (the registrants fourth fiscal quarter in the case of an
      annual report) that has materially affected, or is reasonably likely to
      materially affect, the registrants internal control over financial
      reporting; and5.
    The
      registrants other certifying officer(s) and I have disclosed, based on
      our most recent evaluation of internal control over financial reporting,
      to the registrants auditors and the audit committee of the registrant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 overfinancial reporting which are reasonably likely to adversely
      affect the registrant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 registrants internal control
      over financial reporting.

Date: May
11, 2006
                                                          /s/
Roger K. White
                                                                                         _______________________                                                                                         Roger
K. WhiteSenior
Vice President and Chief Financial Officer

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|Exhibit 32.1
|------------

CERTIFICATION OF CHIEF EXECUTIVE OFFICER OF ALASKA PACIFIC
BANCSHARES, INC.PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF
2002

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, and
in connection with the Corporations Annual Report on Form 10-KSB, I hereby
certify that:

- The report fully
  complies with the requirements of Sections 13(a) and 15(d) of the
  Securities Exchange Act of 1934, as amended, and
- The information
  contained in the report fairly presents, in all material respects, the
  Corporations financial condition and results of operations.

|May 11, 2006 |  | /s/ Craig E. Dahl      
|------------ |  | -----------------------
|Date         |  | Craig E. Dahl          
|             |  | President and          
|             |  | Chief Executive Officer

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|Exhibit 32.2
|------------

CERTIFICATION OF CHIEF FINANCIAL OFFICER OF ALASKA PACIFIC
BANCSHARES, INC.PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF
2002

Pursuant to Section 906 of the Sarbanes-Oxley Act
of 2002, and in connection with the Corporations Annual Report on Form 10-KSB,
I hereby certify that:

- The report fully
  complies with the requirements of Sections 13(a) and 15(d) of the
  Securities Exchange Act of 1934, as amended, and
- The information
  contained in the report fairly presents, in all material respects, the
  Corporations financial condition and results of operations.

|May 11, 2006 |  | /s/ Roger K. White       
|------------ |  | -------------------------
|Date         |  | Roger K. White           
|             |  | Senior Vice President and
|             |  | Chief Financial Officer  

---