The chairman of Atlantic Coast Financial in Jacksonville, Fla., retired for health reasons.
Kevin Champagne stepped down from the $857 million-asset company on Feb. 29, according to a Friday news release. He also retired as chairman of Atlantic Coast Bank.
John Dolan, previously vice chairman, was named chairman. Jay Sidhu was appointed vice chairman. Sidhu is also chairman and chief executive of the $8.4 billion-asset Customers Bancorp in Wyomissing, Pa.
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Atlantic Coast Financial in Jacksonville, Fla., has agreed to sell a branch in Georgia to Queensborough National Bank & Trust in Louisville, Ga.
November 23 -
Atlantic Coast Financial in Jacksonville, Fla., has taken several steps to restructure its debt holdings, including prepaying $60 million in advances with the Federal Home Loan Bank and $56.3 million of securities sold under separate repurchase agreements.
June 25 -
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 also eliminated the vacant seat brought by Champagne's retirement, reducing the size of the board to seven members from eight.
