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Atlantic Coast Financial in Jacksonville, Fla., is in talks to restructure its debt and has reversed the valuation allowance on a deferred tax asset.
June 22 -
Atlantic Coast Financial in Jacksonville, Fla., has been released from an enforcement action that required it to improve its capital ratios.
March 31
Atlantic Coast Financial in Jacksonville, Fla., has taken several steps to restructure its debt holdings, as it seeks to cut costs.
The $744 million-asset company
Combined with a previously announced
Atlantic Coast also restructured $50 million in FHLB advances, resulting in $3.5 million in prepayment penalties.
Atlantic Coast estimated that all of the restructurings will save a total of about $5 million yearly in interest expense. The company earlier this week said it was
Atlantic Coast in March was