UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

  

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

  

Date of Report (Date of earliest event reported): July 17, 2015

 

ATLANTIC COAST FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

 

 

Maryland

 

(State or Other Jurisdiction

of Incorporation)

001-35072

 

(Commission

File Number)

65-1310069

 

(I.R.S. Employer

Identification No.)

 

 

4655 Salisbury Road, Suite 110, Jacksonville, FL 32256

 

(Address of principal executive offices)

 

Registrant's telephone number, including area code: (800) 342-2824

  

No Change

 

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
   

 

 
 

 

ITEM 1.02. TERMINATION OF A MATERIAL DEFINITIVE AGREEMENT

 

On July 17, 2015, Atlantic Coast Financial Corporation (the Company) received written notice of termination of the Supervisory Agreement initiated on December 10, 2010 (the Agreement), between the Board of Governors of the Federal Reserve System (the FRB) and the Company. The notice of termination, dated July 15, 2015, was received from the Federal Reserve Bank of Atlanta on behalf of the FRB and also stated the Company is no longer considered to be in “troubled condition” for savings and loan holding company regulatory purposes. Prior to such termination, the Agreement had restricted the activities of the Company in various ways as previously reported.

  

 

 
 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

         
  ATLANTIC COAST FINANCIAL CORPORATION  
         
         
Date: July 22, 2015 By: /s/ Tracy L. Keegan  
    Name: Tracy L. Keegan  
    Title: Executive Vice President and  
      Chief Financial Officer