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Atlantic Coast Financial (ACFC) in Jacksonville, Fla., has picked a veteran of Fifth Third Bancorp (FITB) and the former Wachovia to be its new chief executive.
September 10 -
The Federal Reserve Bank of Atlanta has approved two Atlantic Coast Financial (ACFC) board nominees proposed by dissident investor Jay Sidhu.
September 9 -
John Linfante is stepping down as the chairman of Atlantic Coast Financial (ACFC), the latest leader to leave the Florida bank since investors rejected its sale to Bond Street Holdings.
August 13 -
The chief executive and three directors of Atlantic Coast Financial (ACFC) are leaving the company after shareholders rejected a proposed sale to Bond Street Holdings earlier this month.
June 21 -
The proposed sale of Atlantic Coast Financial in Jacksonville, Fla., did not sail with investors. Shareholders rejected Bond Street Holdings' $13.1 million, or $5-per-share, offer on Tuesday.
June 11
Atlantic Coast Financial (ACFC) in Jacksonville, Fla., plans to sell $46 million in common stock.
The move, disclosed in a Tuesday regulatory filing,
The stock sale is part of Atlantic's ongoing efforts to raise capital in the aftermath of its failed sale, according to spokesman Pat Watson. "While the merger wasn't approved, the bank's capital need remains," Watson said. "So when that avenue was closed, the company announced that it would continue to pursue other opportunities."
Atlantic has been rebuilding its leadership team after
The bank
