Atlantic Coast Financial Corporation, formerly Atlantic Coast Federal Corporation is a holding company. The Company�s primary activity is holding all of the stock of Atlantic Coast Bank (the Bank). The Bank�s principal business consists of attracting retail deposits from the general public and investing those funds primarily in permanent loans secured by first mortgages on owner-occupied, one- to four-family residences, home equity loans, commercial real estate loans and, to a lesser extent, automobile and other consumer loans. The Bank also originates multi-family residential loans, commercial business loans and commercial construction and residential construction loans. Loans are obtained principally through retail staff, brokers and wholesale purchases.