Community Reinvestment Act (cra)



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Public Comments


The Bank is to maintain all written comments received from the public for the current year and each of the prior two calendar years that specifically relate to CRA Performance. Atlantic Coast Bank has not received CRA related comments from the public during this period.

Public Performance Evaluation


As of March 31, 2014, the Office of the Comptroller of the Currency (OCC) rated the Bank’s CRA Performance as Satisfactory under the Intermediate Small Bank examination. A public copy of the Bank’s most recent CRA Performance Evaluation is available on the OCC’s Web site at: https://www.occ.gov/static/cra/craeval/aug14/717022.pdf

Branch Locations


The Bank’s Corporate office is located in census tract 0159.26 at 4655 Salisbury Rd, Suite 110, Jacksonville, FL 32256, a moderate-income level geography. The Corporate office and all branch locations provide a deposit-taking ATM with 24-hour access to make deposits, withdraw cash, and transfer funds at no charge to customers. Branches provide lobby and drive-thru availability. Lobby hours are from 9:00 AM – 5:00 PM Eastern Time. Drive-Thru hours are from 8:30 AM - 5:00 PM; however, drives open at 9:00 AM on Wednesdays and close at 6:00 PM on Fridays. The Waycross Drive location is available from 9:00 AM – 12:00 PM on Saturdays. Five of the Bank’s eleven full-service branch locations are within moderate-income census tracts. None of the Bank’s locations are within a Distressed or Underserved Nonmetropolitan Middle-Income Geography.


Location

Address

Census Tract

Income Level

Deerwood

10328 Deerwood Park Blvd, Jacksonville, FL 32256

031 0144.06

Upper

Douglas

1390 S. Gaskin Ave, Douglas, GA 31533

069 0108.01

Moderate

Jacksonville Beach

1700 3rd Street South, Jacksonville Beach, FL 32250

031 0142.03

Upper

Julington Creek

2766 Race Track Rd, Jacksonville, FL 32259

109 0208.02

Upper

Memorial Drive

2110 Memorial Drive, Waycross, GA 31501

299 9509.00

Moderate

Neptune Beach

1425 Atlantic Blvd, Neptune Beach, FL 32266

031 0140.02

Upper

Normandy

8048 Normandy Blvd, Jacksonville, FL 32221

031 0127.03

Moderate

Orange Park

1567 Kingsley Ave, Orange Park, FL 32073

019 0305.00

Middle

University

930 University Blvd, North Jacksonville, FL 32211

031 0153.00

Middle

Waycross Drive

400 Haines Ave, Waycross, GA 31501

299 9507.00

Moderate

Waycross Main

505 Haines Ave, Waycross, GA 31501

299 9507.00

Moderate


Click here for more information about our locations.

Branch Openings and/or Closings


The Bank has not opened any branch locations during the past three years. The Garden City Branch was sold to Queensborough National Bank & Trust Co. on April 8, 2016. The branch was located in census tract 0116.00 at 213 Hwy 80 West, Garden City, GA 31408, a moderate-income level geography in the Savannah MSA. Due to presence and product volume, it was determined that there was no adverse impact from the sale.

Products and Services


Loan Products

Commercial Loans

  • Term Loan

  • Line of Credit

  • Letter of Credit

  • Warehouse Lending


Commercial Real Estate Loans

  • Non-Residential

  • Non-Residential Construction

  • Multi-Family

  • Multi-Family Construction

Small Business Administration Loans

  • 7(a) Loan Program

  • 504 Loan Program


Residential Real Estate Loans

  • 1-4 Family

  • Construction to Perm

  • VA Mortgage

  • FHA Mortgage

  • USDA Mortgage

Consumer Loans

  • New/Used Auto

  • Unsecured Installment

  • Unsecured Line of Credit

  • Deposit Secured

  • Other Secured

  • Home Equity Line of Credit

  • Homeowner’s Signature

  • Second Mortgage







Loan Portfolio Composition

Loan Category

Volume (000s)

Percentage

Residential Real Estate

$329,226

45%

C&I

33,715

5%

Commercial Real Estate

197,360

27%

Consumer

40,439

6%

Construction & Other

134,392

18%

TOTAL LOANS

$735,132

100%

Source: Call Report Schedule RC-C Part I as of 12/31/2016

Consumer Deposit Products

Checking

Coast Checking*

basic checking

High Tide Checking*

tiered interest rates, ATM refunds up to $25, E-statements required

Preferred Coast Checking

tiered interest rates, $2,500 opening deposit required

Ultimate Checking

higher interest rate, Direct Deposit required

Fresh Start Checking

designed for qualified customers not approved for regular checking

Money Markets

tiered interest rates, limited transactions

Savings

Basic Savings

basic savings

Platinum Savings

tiered interest rates

Sunrise Savings*

High Tide checking account required

Vacation/Christmas Club

annual automatic disbursement

IRA, ROTH*

IRA funds only, tax exclusions apply

Health Savings Account (HSA)

tax-exempt account to pay/reimburse certain medical expenses

Student Savings*

high school student account

Certificates of Deposit (CDs)

Basic , IRA, ROTH, Coverdell

3mth, 6mth, 1yr, 2yr, 2.5yr, 3yr, and 5yr

Jumbo

3mth, 6mth, 1yr, 2yr, 2.5yr, 3yr, and 5yr and >$100k

Bonus CDs

offered intermittently

Primetime

rate + age for senior club members

First Step

additional deposit by automatic transfer

* no minimum balance, no monthly maintenance fee
Click Here to learn more about ACB’s consumer checking accounts

Click Here to learn more about ACB’s consumer savings, money market, and retirements accounts

Commercial Deposit Products


Additional Business Banking products and services include:

  • Public Funds Checking

  • Interest on Lawyers Trust Accounts (IOLTA) Checking

  • Commercial Money Market

  • Business Platinum Savings

  • Certificates of Deposit (CDs)

  • Business ACH Origination

  • Business Online Wires

  • Business Deposit Capture

  • Business Currency/Coin Processing

  • Sweep Processing

  • Merchant Services

  • Courier Services


Click Here to learn more about ACB’s business banking offerings
The Bank has developed the following products and services to provide solutions that are better suited to support the financial needs of LMI individuals and/or geographies:
Second Chance Checking

Fresh Start Checking was implemented in 2009 and designed to serve the needs of un-banked and under-banked individuals who have limited options due to poor checking history. With this account, the customer is only offered an ATM card. Overdraft Protection can be setup to access Savings or an Unsecured Line of Credit; if funds aren’t available for transfer, the transaction will be denied and a fee charged. In addition, the account has a monthly maintenance fee. After a six month period, the customer may apply for a manager’s approval to use a Debit Card. Once the account has been in good standing for one year, a customer may apply for a manager’s approval to convert to a regular checking account.


Savings Support

  • Vacation and Christmas Savings accounts assist customers with ensuring a desired amount is available for larger expenses in the Summer (April 1st) and Fall (November 15th). A checking account is required to open these accounts and the customer must setup periodic automatic transfers from checking or direct deposit.

  • Student Savings Accounts limits the customer to five free over-the-counter withdrawals per year. Additional withdrawals are subject to a minimal fee. This incents the customer to limit their use of funds for supplies each semester.

  • First Step Certificates of Deposit supports a customer’s efforts to build a larger savings by requiring automatic deposits, paying higher interest, and applying a penalty for early withdrawals. A $250 minimum deposit and periodic automatic deposits are required to be setup at account opening.

  • The Bank offers a Primetime Club (for seniors >=50) and a Seaboard Sam Club (for children <=12) to encourage financial responsibility, offer account benefits, and host social events.


Small Dollar Loans

Small Dollar Loans makes an exception to allow underwriting for a lower principal amount (Maximum $1,500). This provides lower cost alternatives to borrowers who might otherwise choose less favorable options from non-bank lenders.


Non-Profit Products

Safe Harbor Checking accounts pay interest and allow unlimited transactions. A minimum balance is required to avoid a monthly maintenance fee. In addition, the Bank partners with Card Assets for credit card applications. Their program offers a credit card for non-profit organizations at a lower interest rate.


SBA Lending Products

SBA Lending targets start-up businesses and businesses with less than or equal to $1M in gross annual revenue. Applicants must meet government eligibility and guarantee requirements to qualify for loans in the SBA 7(a), SBA 504, and other Government Loan Programs.


Mortgage Lending

  • FHA Mortgage Loans are offered to allow flexible lending standards. These loans are issued by federally qualified lenders and insured by the Federal Housing Administration (FHA).

  • USDA loans provide the benefits of competitive 30-year fixed interest rates, and flexible credit guidelines. These loans are issued by qualified lenders and guaranteed by the United States Department of Agriculture Rural Development Office.

  • VA Mortgage Loans provide veterans with advantages of purchasing a home, for a value that meets VA loan limits, with no down payment. The VA also limits closing costs for veterans and allows sellers to pay most or all of those expenses. These loans are issued by approved lenders and guaranteed by the U.S. Department of Veterans Affairs (VA).

  • The Bank partners with FHLB of Atlanta to take advantage of the Affordable Housing Program (AFP) Set-Aside Products. The FHLB sets aside 10% of their annual net income for advances that offer reduced rate funding; which provides critical support for affordable housing and local economic development.

  • The Bank partners with FHLB of Atlanta and Florida Housing Finance Corporation to participate in the Housing Floridians Program. This program provides exclusive access to $11,250-$22,500 per household in grant funding for eligible homebuyers.

  • The Bank developed a WealthBuilder Mortgage Loan that was offered from September 2015 to October 2016. This product was supported by the American Enterprise Institute to address Housing Affordability and Default Risk Management for first time homebuyers. It allowed a 100% loan purchase and used savings to buy down the interest rate.


Fee Schedule

Click Here for a comprehensive list of services, transactions, and related fees.
Alternative Delivery Systems


ACB maintains a Web site at www.atlanticcoastbank.net. The site provides bank information (e.g., product and service descriptions, employment opportunities, bank news, bank history, investor information) and interactive links (e.g., online banking login, contact request, secure file transfer, make loan payments, loan payment calculator, etc.).


At no charge, the Bank’s online banking service (NETeller) provides 24-hour access to account balances, printable transaction histories, comma-separated value transaction exports, images of cleared checks, fund transfers, bill payment services, and a message feature. For an additional charge, commercial customers may be approved to utilize one or more of the following Treasury Management services: Business Deposit Capture, Business ACH Origination, and Business Online Wires.




The following telephone banking services are available at 1-800-342-2824:



  • The Customer Care Call Center is staffed Monday through Friday from 8:30 am to 5:00 pm. This service allows deposit account opening, consumer loan applications, limited transactions, and customer service.

  • PrivateLine is the Bank’s automated phone system and is available 24-hours a day at no charge. This service provides an account history and allows customers to report lost/stolen Debit or ATM cards, place stop payments, and transfer funds between their accounts at the Bank.





With their Debit and/or ATM Cards, ACB customers may use ATMs anywhere (with applicable fees) to check balances, withdraw funds, and perform funds transfers. ATMs at our branch locations are provided to ACB customers at no charge and accepts deposits. In addition, the Bank partners with Presto! to provide free ATM access at more than 900 ATMs at Publix Super Markets. With their Debit Card, ACB customers can make purchases wherever VISA is accepted using available funds in their account.





A variety of check products are available to provide access to funds. Upon request, a set of starter checks is provided at account opening. Checkbook orders may be placed through the Bank or a retailer of the customer’s choosing. Temporary checks and Official Checks are available to customers through ACB’s customer service channels.





Electronic funds transfer (EFT) services are available at ACB. Customers may automatically set up payroll through direct deposit. They may automate bill payments with ACH. Wire transfer services are available, at a cost.





Mobile Banking is available via Apple, Android, and Windows applications. This service provides 24-hour access to account balances, transaction histories, fund transfers, PayPal requests, remote check deposit, check images of those deposits, and a message feature.






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