Alaska Pacific Bancshares, Inc. Reports Results of
Annual Meeting and Appointment of New
May 19, 2010 01:35 PM Eastern Daylight Time
JUNEAU, Alaska--(EON: Enhanced Online News)--Alaska Pacific Bancshares, Inc. (OTCBB:AKPB)
(“Company”), the parent company of Alaska Pacific Bank (“Bank”), today announced the results of its Annual
Meeting of Stockholders held on May 18, 2010 at the Prospector Hotel in Juneau, Alaska. At the Annual Meeting,
stockholders approved the following three proposals:
l Stockholders elected William A. Corbus, Maxwell S. Rule and Linda C. Thomas as directors of the
Company for a three year term expiring in 2013, and Doug Andrew as a director for a one year term expiring
in 2011, with each to serve until their respective successors have been duly elected and qualified.
l Stockholders approved the compensation of the Company’s named executive officers.
l Stockholders ratified the appointment of Moss Adams, LLP as the Company’s independent registered public
accounting firm for the fiscal year ended December 31, 2010.
In addition, the Company’s Board of Directors appointed William A. Corbus as Chairman of the Board. Mr.
Corbus is the successor to Mr. Roger Grummett, who has served as Chairman of the Board since 2003, and who
retired from the Board of Directors effective May 18, 2010, after serving as a director of the Company since its
inception in 1999 and as a director of the Bank since 1987.
“Roger Grummett has served the Board for twenty-three years and has played a key role in guiding the Bank
through the myriad of changes in the financial services industry, including the transformation of Alaska Federal
Savings & Loan Association from mutual to stock form and the formation of its publicly traded parent company,
Alaska Pacific Bancshares, Inc. He was proud to serve as the Board’s chairman given that his father, Stan
Grummett, was a charter board member starting in 1935,” said Craig E. Dahl, President, Chief Executive Officer
and Director of the Ban