A second director at the troubled Atlantic Coast Financial (ACFC) has resigned due to concerns about how the Jacksonville, Fla., company is run.

Charles R. Carey, who joined the board in February, wrote in his resignation letter dated June 2 that "in the limited time I have served on the board it has become apparent to me that, given the events that have transpired, and current circumstances at ACFC, I will be unable to effectively serve as a board member."

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