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News Breaks | | | | February 15, 2013 | | 16:41 EDT |  | ACFC | Jay S. Sidhu reports 4.56% stake in Atlantic Coast Federal
On February 13, Messrs. Sidhu and Choudhrie delivered a notice to the Secretary of Atlantic Coast Federal in accordance with its bylaws nominating three persons for election to the Board of Directors at the 2013 Annual Meeting of Stockholders. In connection with the Director Nomination Notice, the nominees, John J. Dolan, Kevin G. Champagne and Dave Bhasin provided affidavits to Atlantic indicating, among other things, the nominees’ willingness to serve as directors of the company if elected at the Annual Meeting. | |
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News For ACFC From The Last 14 Days Check below for free stories on ACFC the last two weeks. |
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| May 16, 2013 | | 06:37 EDT | | ACFC | Atlantic Coast Federal sends letter to stocholders on proposed merger
Atlantic Coast announced in a letter to stockholders that stockholder approval of the proposed merger of Atlantic Coast Financial with Bond Street Holdings is critical to assuring attractive value for a stockholder's investment in the Company. Under the proposed merger, Atlantic Coast Financial stockholders will receive $5.00 per share in cash for each common share owned. In the letter, Atlantic Coast Financial warns stockholders that if the proposed merger agreement is not approved, the entire value of a stockholder's investment in Atlantic Coast Financial could be placed at high risk because a viable future for Atlantic Coast Financial is uncertain absent the completion of the proposed merger. The letter also reminds stockholders that Atlantic Coast Bank is operating under a Consent Order issued by the Office of the Comptroller of the Currency, which severely impacts its banking operations.The letter also states that, upon completion of the merger, Atlantic Coast Financial's banking business will be well positioned to meet the needs of its customers and communities. | | | May 15, 2013 | | 07:05 EDT |  | ACFC | Atlantic Coast Federal reports Q1 EPS (81c) vs. (69c) a year ago
Sees previously announced merger with Bond Street Holdings, which has been approved by the Federal Reserve Bank of Atlanta, but remains subject to the approval of stockholders of the company at a special meeting called for that purpose on June 11, to close by the end of Q2. | |
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