Atlantic Coast Financial Corporation Names John K. Stephens President and Chief Executive Officer

JACKSONVILLE, Fla.--(BUSINESS WIRE)--Atlantic Coast Financial Corporation (the "Company" or "Atlantic Coast Financial," NASDAQ symbol: ACFC), the holding company for Atlantic Coast Bank (the "Bank"), today announced that its Board of Directors has named John K. Stephens President and Chief Executive Officer of both Atlantic Coast Financial and Atlantic Coast Bank, contingent upon receipt of regulatory non-objection from the Office of the Comptroller of the Currency and the Federal Reserve Bank of Atlanta. Stephens will replace Thomas B. Wagers, Sr., who has served as Interim President and Chief Executive Officer since July 2013.