Atlantic Coast Financial Corporation Prices Public Offering of Common Stock

JACKSONVILLE, Fla.--(BUSINESS WIRE)--Atlantic Coast Financial Corporation (the "Company") (NASDAQ:ACFC), the holding company for Atlantic Coast Bank (the "Bank"), today announced the pricing of its previously announced underwritten offering of $42.0 million of its common stock at a price to the public of $3.75 per share. FBR Capital Markets & Co. is acting as the sole book-running manager for the offering. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,680,000 shares of common stock, solely to cover over-allotments, if any.