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Atlantic Coast Financial Corporation’s Fourth Quarter 2017 Net Loss of $0.04 Per Diluted Share Included $0.14 in Charges Related to Tax Act and Pending Merger

ATLANTIC COAST FINANCIAL (ACFC)  More Company Research Source: Business Wire
PDF JACKSONVILLE, Fla.--(BUSINESS WIRE)-- Atlantic Coast Financial Corporation (Atlantic Coast or the Company, NASDAQ: ACFC): Portfolio loans increased $118 million since December 2016. Deposits increased $47 million during the last 12 months. Nonperforming assets declined 27% to $9.5 million year over year. Entered into an Agreement and Plan of Merger with Ameris Bancorp on November 16, 2017. Atlantic Coast Financial Corporation (Atlantic Coast or the Company, NASDAQ: ACFC), the holding company for Atlantic Coast Bank (the Bank), today reported a loss per diluted share of $0.04 and earnings per diluted share of $0.21 for the 3 and 12 months ended December 31, 2017, respectively, compared with earnings of $0.13 and $0.42 for the 3 and 12 months ended December 31, 2016, respectively. The results for the 3 and 12 months ended December 31, 2017, [Read more]

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