Last $3.95 USD
Change Today 0.00 / 0.00%
Volume 0.0
ACFC On Other Exchanges
Symbol
Exchange
NASDAQ GM
As of 8:10 PM 03/3/15 All times are local (Market data is delayed by at least 15 minutes).

atlantic coast financial cor (ACFC) Snapshot

Open
$3.97
Previous Close
$3.94
Day High
$3.97
Day Low
$3.94
52 Week High
03/31/14 - $4.49
52 Week Low
01/26/15 - $3.60
Market Cap
61.3M
Average Volume 10 Days
6.1K
EPS TTM
$0.09
Shares Outstanding
15.5M
EX-Date
09/25/09
P/E TM
43.9x
Dividend
--
Dividend Yield
--
Current Stock Chart for ATLANTIC COAST FINANCIAL COR (ACFC)

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atlantic coast financial cor (ACFC) Details

Atlantic Coast Financial Corporation operates as the bank holding company for Atlantic Coast Bank that provides various banking services to individual and business customers primarily in northeastern Florida and southeastern Georgia. It offers deposit products, such as checking, savings, money market, demand deposit, and time deposit accounts, as well as certificates of deposit. The company’s loan portfolio include one- to four-family residential first and second mortgage, home-equity, commercial real estate, commercial and residential construction, multi-family real estate, commercial business, and automobile and other consumer loans. As of December 31, 2013, it operated 11 full-service offices. The company was founded in 1939 and is headquartered in Jacksonville, Florida.

atlantic coast financial cor (ACFC) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $70.6K
Chief Financial Officer, Director and Directo...
Total Annual Compensation: $35.5K
Chief Risk Officer of Atlantic Coast Bank and...
Total Annual Compensation: $139.3K
Vice President of Atlantic Coast Bank and Con...
Total Annual Compensation: $89.9K
Compensation as of Fiscal Year 2013.

atlantic coast financial cor (ACFC) Key Developments

H. Dennis Woods Announces Not to Stand for Reelection of Board of Directors of Atlantic Coast Financial Corporation and Atlantic Coast Bank

On February 11, 2015 Atlantic Coast Financial Corporation announced that H. Dennis Woods, a director of the company, informed the Board of Directors of the Company and the Board of Atlantic Coast Bank, the Company's wholly owned subsidiary, that he is retiring and will not stand for re-election at the next annual meeting of stockholders of the Company and the Bank in May 2015. The Board's Governance and Nominating Committee is currently reviewing its options regarding Mr. Woods' resignation.

Atlantic Coast Financial Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

Atlantic Coast Financial Corporation reported Unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported total interest and dividend income of $7,162,000 compared to $6,900,000 a year ago. Net interest income was $4,616,000 compared to $3,801,000 a year ago. Net interest income after provision for portfolio loan losses was $4,416,000 compared to $514,000 a year ago. Income before income tax expense was $193,000 compared to loss before income tax expense was $6,884,000 a year ago. Net income was $443,000 compared to net loss of $6,884,000 a year ago. Basic and diluted net income per share was $0.03 compared to basic and diluted loss per share of $1.05 a year ago. Return on average total assets was 0.25% compared to negative return on average total assets of 3.82% a year ago. Return on average stockholders' equity was 2.45% compared to negative return on average stockholders' equity of 62.55% a year ago. Adjusted net income was $443,000 compared to adjusted net loss of $786,000 a year ago. For the full year, the company reported total interest and dividend income of $28,135,000 compared to $28,836,000 a year ago. Net interest income was $17,623,000 compared to $16,141,000 a year ago. Net interest income after provision for portfolio loan losses was $16,357,000 compared to $9,115,000 a year ago. Income before income tax expense was $1,327,000 compared to loss before income tax expense was $11,406,000 a year ago. Net income was $1,327,000 compared to net loss of $11,406,000 a year ago. Basic and diluted net income per share was $0.09 compared to basic and diluted loss per share of $3.23 a year ago. Return on average total assets was 0.19% compared to negative return on average total assets of 1.55% a year ago. Return on average stockholders' equity was 1.89% compared to negative return on average stockholders' equity of 30.45% a year ago. Adjusted net income was $1,327,000 compared to adjusted net loss of $4,014,000 a year ago. The company reported Net charge-offs for the fourth quarter ended December 31, 2014. For the period, the company announced net charge-offs of $0.3 million compared to $5.9 million a year ago.

Atlantic Coast Financial Corporation and Atlantic Coast Bank Announce Executive Changes

Mr. John Jay C. Lent informed Atlantic Coast Financial Corporation and Atlantic Coast Bank, the company's wholly-owned subsidiary, that he is resigning from serving as executive vice president and chief financial officer of each the company and the bank, effective as of January 29, 2015. To facilitate an orderly transition, Mr. Lent is expected to continue employment with the company through March 2, 2015. The company and the bank appointed Mr. James D. Hogan as interim chief financial officer, effective as of January 29, 2015. Mr. Hogan, aged 70, has served as a director on the board of directors of the company since December 2013 and as chief risk officer of the company since May 2014. Mr. Hogan previously served the company as interim executive vice president and chief financial officer from December 2013 to May 2014. Prior to joining the company, Mr. Hogan served as executive vice president and interim chief financial officer of Customers Bankcorp Inc. from October 2012 to August 2013. Mr. Hogan also served as Customers Bank's executive vice president and director of Enterprise Risk Management from June 2010 to October 2012. From 2005 to 2010, Mr. Hogan was retired but continued to work occasionally, primarily in private consulting. Mr. Hogan was executive vice president and chief financial officer of Sovereign Bancorp Inc. from 2001 to 2005. He was the executive vice president and corporate controller of Firstar Bancorp (now US Bancorp) from 1987 to 2001, and was the Controller of The Idaho First National Bank (now West One Bank) from 1976 to 1987. Mr. Hogan became a certified public accountant in 1970, keeping an active license through 2005, and began his career as a bank audit specialist with Coopers and Lybrand (now PriceWaterhouseCoopers).

 

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Industry Analysis

ACFC

Industry Average

Valuation ACFC Industry Range
Price/Earnings 45.7x
Price/Sales 2.7x
Price/Book 0.8x
Price/Cash Flow 46.0x
TEV/Sales NM Not Meaningful
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