Bond Street Holdings Comments on Atlantic Coast Financial Corporation
WESTON, Fla. -- June 11, 2013
Bond Street Holdings (“Bond Street”), the bank holding company for Florida
Community Bank, N.A. (“FCB”), today commented on the results of Atlantic Coast
Financial Corporation’s (“Atlantic Coast”) shareholder vote:
Bond Street is confident that the proposed transaction to merge Atlantic Coast
into Bond Street at $5.00 per share all cash to Atlantic Coast shareholders
served the best interests of all parties. Bond Street is committed to a
disciplined investment approach and use of its capital as it successfully
grows its wholly owned subsidiary FCB as one of the leading and financially
strong community banks serving communities in Florida.
Bond Street respects the decision by Atlantic Coast shareholders and is now
moving forward to capitalize on other opportunities both organic and external
to further enhance the long term potential of FCB.
About Bond Street Holdings
Formed in 2009 and headquartered in South Florida, Bond Street has become the
fifth largest independent bank in Florida. This transaction marks Florida
Community Bank's first entry into the northeast Florida/southeast Georgia
About Florida Community Bank
Florida Community Bank, N.A., is backed by the financial strength of its
parent company, Bond Street Holdings, Inc., making it one of the strongest and
best capitalized banks in the country. With over $3.5 billion in assets and 41
locations, FCB is the 5th largest independent bank in Florida. To learn more,
log onto www.floridacommunitybank.com.
Kekst and Company
Ross Lovern, 212-521-4876
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