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Atlantic Coast Financial Corporation Message Board

  • bob5341904 bob5341904 Apr 16, 2012 11:58 AM Flag

    September

    Seems to me that's the the survival deadline foe ACFC. Either they find a buyer by then are go to the FEDS. Price should be under pressure the longer we go without and news.

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    • Where did you get the $100MM in non-performing loans. As of 12/31/11, there was $5.8MM in ORE and $46.6MM in Non-Performing for around $52.4MM. I cant find the other $48MM or so?

    • September is way too soon. Look at the banks in the Atlanta area that have Tier 1 leverage ratios of < 3% and still around for a year or more. Theirs was 5.83% on 12/31/11 even after a disastrous 4th qtr and full year. They are in no means out of the woods but a long way from a takeover. If thier losses continued at $10.3MM (same as 2011), they could survive another 2 years. Believe me - I work at one a lot worse!! They have got to find a way to stem the losses or find a private equity group to throw them a life line that is not 90% dilutive!!

      • 1 Reply to emconner2003
      • You appear to know more than I do about this so I'll just say okay. But the price is over two bucks for a bank buyout hope. If not for that we would be back at .89. I don't see a private equity capital finding this bank an attractive deal with the banks hundred million nonperforming loans. The bank directors and one moron business banker have found themselves with what amounts to large personal losses. That's whats at stake here them and they will do anything to help that. Running this bank is not an option they don't know how and that is fact. They need a trick a deal anything will do to make their bank stock worth more. They would even vote for Obama if it would help THEM. lol

    • HBOS is buying allot of bank branches but no entire banks.