Atlantic Coast Financial Corporation (NASDAQ:ACFC): Current price $3.87
On Tuesday, the holding company for Atlantic Coast Bank reported a strategic transaction that will obtain immediate enhanced value for all stockholders in regards to the present value of their investment, along with a financially strong banking platform, and a competitive community banking organization well positioned to satisfy the needs of its customers and communities for the long term. More specifically, the firm will merge into Bond Street Holdings, a community-oriented bank holding firm with $3.2 billion in total assets that operates 41 community banking branches along both coasts of Florida and in the Orlando area. At the close of that transaction, Atlantic Coast Bank will merge into Florida Community Bank, Bond Street’s banking subsidiary.
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