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Slide #70. Atlantic Coast Financial Corporation — Bond Street Holdings, Inc.
Atlantic Coast Financial Corporation (ACFC)
Bond Street Holdings, Inc.
Atlantic Coast Financial Corporation (the "Company") (NASDAQ:ACFC), the holding company for Atlantic Coast Bank (the "Bank"), today announced a strategic transaction that will achieve immediate enhanced value for all stockholders with respect to the present value of their investment, as well as a financially strong banking platform, and a competitive community banking organization that is well positioned to meet the needs of its customers and communities for the long term.
Atlantic Coast Financial is a bank holding company. Through its subsidiary, Atlantic Coast Bank (the Bank), Co. serves the Northeast Florida, Central Florida and Southeast Georgia markets. The Bank is engaged in accepting deposits and investing those funds primarily in loans, including commercial real estate loans, consumer loans, first mortgages on owner-occupied one- to four-family residences, and home equity loans. Additionally, the Bank invests funds in multi-family residential loans, commercial business loans, and commercial and residential construction loans. As of Dec 31 2016, Co. had total assets of $907.5 million and total deposits of $628.4 million.
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Hold (2.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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