Alaska Pacific Bancshares, Inc. is the holding company for Alaska Pacific Bank (the Bank), a community-oriented financial institution. The Banks business consists primarily of attracting retail deposits from the general public and using those funds to originate one- to four-family mortgage loans, commercial business loans, consumer loans, construction loans and commercial real estate loans. A substantial portion of Alaska Pacifics loan portfolio is secured by real estate, either as primary or secondary collateral, located in its primary market area. The Companys primary market area includes the communities of Juneau, Ketchikan, Sitka, Hoonah and Yakutat. As of December 31, 2002, the Company had total assets of $154.3 million, total deposits of $132.7 million and stockholders equity of $15 million.