Atlantic Coast Financial Corp. in Jacksonville, Fla., said in a regulatory filing last week that Robert J. Larison Jr. is retiring as its chief operating officer.
Larison will also step down from the board and retire as the president and chief operating officer at Atlantic Coast Bank, effective Feb. 29, 2012. He will remain a vice chairman at the bank and work as a consultant to the company for a year, Atlantic Coast said in a Friday filing with Securities Exchange Commission.
Earlier this year, Atlantic Coast rebranded itself from Atlantic Coast Federal Corp. In February, Atlantic Coast converted to a stock holding company from a mutual holding company.
The company lost $1.5 million in the second quarter, compared to a $3.4 million loss a quarter earlier.