Community Reinvestment Act (cra)

Community Reinvestment Act (CRA)

Public File

as of April 1, 2017

Table of Contents

Atlantic Coast Bank (“Bank”, “ACB”) is a $908M¹ Florida state-chartered commercial bank headquartered in Jacksonville, FL and is classified as an Intermediate Small Bank under the Community Reinvestment Act (CRA). Atlantic Coast Bank is affiliated with Atlantic Coast Financial Corporation, a holding company publicly traded on the NASDAQ (“ACFC”). The Bank’s primary business focus is residential and commercial real estate lending.

The Bank considers its products, underwriting, and/or investor alternatives that may assist with credit issues in our markets.

The Bank makes investments in CRA qualified Mortgage Backed Securities with collateral in Clay, Duval, Nassau, and St. Johns Counties. The borrowers have a low- to moderate-income level and/or reside in a low- to moderate-income geography. In addition, Atlantic Coast Bank makes donations to assist non-profit organizations in meeting community needs (e.g., temporary/permanent housing, financial literacy, well-being needs, and skill-building).

Atlantic Coast Bank’s contributions to financial education needs in its communities include, but is not limited to, participation in the following:

• 
  American Bankers Association’s annual Teach Children to Save Day (held each April)
  
• 
  American Bankers Association’s annual Get Smart About Credit Day (held each October).
  
• 
  YMCA “Money Monday” events to educate seniors about Financial Elder Abuse.
  
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  United Way of Northeast Florida Real$ense Outreach/Financial Education Volunteer Program
  
• 
  Jacksonville Habitat for Humanity Mentoring Program
  
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  Junior Achievement’s Youth Financial Education Program
  
• 
  ACB created “Got Credit?” program offered on a periodic basis to the surrounding community at the Normandy branch location.
  
• 
  ACB created “Home Buyer’s Round Table” offered to the surrounding community at the Normandy branch location.
  

Since the Bank’s most recent CRA Performance Evaluation, we have averaged over 100 hours per year in providing technical assistance to non-profit organizations (e.g., board members, committee members, treasurer, etc.).