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): June 10, 2016
(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 8.01. OTHER EVENTS.
On June 10, 2016, the Florida Office of Financial Regulation (OFR) disclosed that Atlantic Coast Bank (the Bank), a wholly-owned subsidiary of Atlantic Coast Financial Corporation, filed with the OFR an application to convert the Bank’s charter from a federally-chartered savings bank to a Florida state-chartered commercial bank. The Bank also intends to apply to become a member of the Federal Reserve System effective contemporaneously with the charter conversion. Subject to receiving the necessary regulatory approvals, such transactions are expected to be completed by the end of 2016.
Upon the Bank completing the conversion and becoming a member of the Federal Reserve System, the Bank’s primary regulators will be the OFR and the Board of Governors of the Federal Reserve System.
The conversion is not expected to affect the Bank’s customers in any way. Bank depositors will continue to have full protection of Federal Deposit Insurance provided by the Federal Deposit Insurance Corporation.
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: June 15, 2016 | By: /s/ Tracy L. Keegan |
| Name: Tracy L. Keegan | |
| Title: Executive Vice President and | |
| Chief Financial Officer | |