Ex-CU Raises Money With StockOffering

WAYCROSS, Ga. - (10/07/04) -- Atlantic Coast Federal Savings Bank,the converted credit union known until November 2000 as AtlanticCoast FCU, said it raised $58 million in an initial public offeringafter converting from a mutual savings bank. The credit union firstsold 5.8 million shares to depositors, then began trading theshares on the Nasdaq Tuesday under the symbol ACFC. The sharesclosed Wednesday at $12.30, up 8% from their $11.37 initial tradingprice.