Rochester, NY 9/1/2009 7:23:33 AM
Atlantic Coast Federal Corporation, ACFC, Down by 8.57% After Close Market
Atlantic Coast Federal Corporation
Atlantic Coast Federal a federally-chartered and insured stock savings association serves southeastern Georgia and the Jacksonville Florida metropolitan area. Atlantic Coast Federal Corp. has a market cap of $30.9 million; its shares were traded at around $2.3 with and P/S ratio of 0.4. The dividend yield of Atlantic Coast Federal Corp. stocks is 1.7%.
General. Total assets at June 30, 2009 as compared to December 31, 2008 decreased $9.5 million, to $986.6 million from $996.1 million. Gross loans declined $59.7 million, partially offset by higher investments in available for sale securities and cash and cash equivalents. An increase in deposits nearly offset reduced borrowings from FHLB of Atlanta.
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ABOUT Atlantic Coast Federal Corporation
Atlantic Coast Federal Corporation operates as the holding company for Atlantic Coast Bank that provides various banking services to individual and corporate customers primarily in southern coastal Georgia and northern coastal Florida. It generates various deposit products, including checking and savings accounts, money market accounts, demand deposit accounts, time deposit accounts, and term certificate accounts. The company also originates one- to four-family residential first and second mortgage loans, home-equity loans, land and multi-family real estate loans, commercial real estate loans, construction loans, and automobile and other consumer loans. As of December 31, 2008, it had 12 full-service offices and 1 drive-up facility; and a leased office space for the Florida regional center.
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