Atlantic Coast Financial Corporation Announces That the Proposed Merger with Bond Street Holdings, Inc. Failed to Receive Stockholder Approval

JACKSONVILLE, Fla.--(BUSINESS WIRE)--Atlantic Coast Financial Corporation (the "Company" or "Atlantic Coast Financial")(NASDAQ: ACFC), the holding company for Atlantic Coast Bank (the "Bank"), today announced that the proposed merger with Bond Street Holdings, Inc. ("Bond Street") did not receive stockholder approval at today's special meeting of stockholders. Likewise, a proposal that would have approved an adjournment of the meeting to allow for the solicitation of additional votes failed to receive stockholder approval.