People: Atlantic Coast Financial Corp (ACFC.W)

ACFC.W on CBOE When Trading NASDAQ Global Select Market

5.68USD
8 May 2013
Price Change (% chg)

$1.34 (+30.88%)
Prev Close
$4.34
Open
$5.68
Day's High
$5.68
Day's Low
$5.68
Volume
100
Avg. Vol
3
52-wk High
$5.68
52-wk Low
$2.10

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Summary

Name Age Since Current Position

Jay Sidhu

 60 2011 Non-Executive Chairman of the Board

G. Thomas Frankland

 65 2011 President, Chief Executive Officer, Director

Forest Sweat

 54 2010 Independent Vice Chairman of the Board

Thomas Wagers

 54 2010 Chief Financial Officer, Senior Vice President

Phillip Buddenbohm

 41 2011 Senior Vice President, Chief Risk Officer of Atlantic Coast Bank

Charles Martin

 65 2010 Lead Independent Director

Thomas Beeckler

 65 2005 Independent Director

Bhanu Choudhrie

 33 2010 Independent Director

Frederick Franklin

 56 2005 Independent Director

John Linfante

 2012 Independent Director

W. Eric Palmer

 49 2005 Independent Director

H. Dennis Woods

 66 1987 Independent Director

Patrick Watson

 Senior Vice President and Principal
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Biographies

Name Description

Jay Sidhu

 Mr. Jay S. Sidhu is Non-Executive Chairman of the Board of Atlantic Coast Financial Corp. Mr. Sidhu is Chairman and Chief Executive Officer of both Customers Bancorp Inc and Customers Bank, both headquartered in Wyomissing, Pennsylvania, where he has served since June 2009. Mr. Sidhu also is the Chairman and Chief Executive Officer of Sidhu Advisors, LLC, a financial services consulting company. Previously, Mr. Sidhu served as Chairman and Chief Executive Officer of the Philadelphia-based Sovereign Bank, where he was employed from 1986 until 2006. Under his leadership, Sovereign Bank grew from a small thrift with less than $1 billion in assets to a nearly $90 billion financial institution, with a branch network of 800 locations serving customers from Maryland to New Hampshire. Mr. Sidhu has experience in the financial services industry, as well as his capital markets background. Mr. Sidhu is also experienced in public company operations and management, and is expected to contribute meaningfully to the board’s work in evaluating strategic opportunities, and offering guidance with respect to credit management.

G. Thomas Frankland

 Mr. G. Thomas Frankland is President, Chief Executive Officer, Director of Atlantic Coast Financial Corp. Mr. Frankland was appointed to the board of directors in August 2010 and was named Interim President and Chief Executive Officer of Atlantic Coast Federal Corporation in October 2010 and assumed the permanent role of President and Chief Executive Officer in May 2011. He was formerly a partner with the international accounting firm of PriceWaterhouse (the predecessor firm of PriceWaterhouseCoopers) and his diverse background includes experience in many key corporate areas, including financial services, venture capital, mergers and acquisitions, and strategic planning and execution. Since 2006, Mr. Frankland has served on the executive committee of Springboard Capital LLC, a Jacksonville-based venture capital fund focused on early-stage financing opportunities for emerging companies. From 1998 to 2006, he was Chief Financial Officer and later President and Chief Operating Officer of CNB Florida Bancshares and subsequently Chief Operating Officer at Mercantile Bank, both in Jacksonville, the latter being a unit of The South Financial Group. The South Financial Group acquired CNB Florida Bancshares in 2004.

Forest Sweat

 Mr. Forrest W. Sweat, Jr., is Independent Vice Chairman of the Board of Atlantic Coast Financial Corp. Mr. Sweat is a partner in the law firm of Walker & Sweat, Waycross, Georgia. He has practiced law since 1982. Mr. Sweat specializes in providing legal counsel in real estate acquisition, lending and related matters. A part of Atlantic Coast Bank’s lending program involves residential and commercial lending. Mr. Sweat serves as a director due to his experience in this area.

Thomas Wagers

 Mr. Thomas B. Wagers, Sr., is Chief Financial Officer, Senior Vice President of Atlantic Coast Financial Corp. Mr. Wagers has served as Chief Financial Officer since May 2009. He previously served as Chief Operating Officer of Atlantic Coast Bank beginning in December 2006, and as Vice President of Finance, beginning in June 2004. Mr. Wagers has over 20 years of banking experience including 12 years in various senior internal audit and finance positions with Barnett Banks, Inc. from 1985 until 1997. Mr. Wagers is a certified public accountant in Florida and, upon graduating with a B.S. degree in accounting from East Tennessee State University in 1979, he worked for the national public accounting firm of Coopers and Lybrand. He joined Barnet Banks, Inc. in 1985 as an audit manager. Prior to joining Atlantic Coast Bank, Mr. Wagers was an independent accounting consultant from August 2002 until May 2004, and worked in the food distribution business from 1998 until 2002.

Phillip Buddenbohm

 Mr. Phillip S. Buddenbohm is Senior Vice President, Chief Risk Officer of Atlantic Coast Bank, subsidiary of Atlantic Coast Financial Corp. He previously served as senior vice president of credit administration from March 2005 until September 2007. Formerly a first vice president in the Consumer Services Division of National Commerce Financial Corporation in Memphis, Tennessee, he has 16 years of experience in lending, credit administration and branch services.

Charles Martin

 Mr. Charles E. Martin, Jr., is Lead Independent Director of Atlantic Coast Financial Corp. Mr. Martin is a retired employee of CSX Transportation, Inc., Waycross, Georgia, where he worked as a machinist for over 20 years. Mr. Martin has served as a director of Atlantic Coast Bank and its predecessor, Atlantic Coast Federal Credit Union, since 1982. In his role as director of Atlantic Coast Federal Credit Union, Mr. Martin headed the credit committee after obtaining credit certification under a program offered by Florida State University. Mr. Martin has used this knowledge and experience to provide input on the development of credit policies and procedures as well as being an advisor to Atlantic Coast Bank management in loan decisions and problem loan situations. Prior to 2005, Mr. Martin was a long-time resident of Waycross, Georgia. This provides Mr. Martin access to many community leaders and organizations, which provides Atlantic Coast Financial Corporation business development and growth opportunities in the Waycross market.

Thomas Beeckler

 Mr. Thomas F. Beeckler is Independent Director of Atlantic Coast Financial Corp. Mr. Beeckler is the owner, President and Chief Executive Officer of the Beeckler Company, Jacksonville, Florida, a real estate development firm. Mr. Beeckler founded the company in 1990. Mr. Beeckler was originally nominated as a director due to his real estate development experience, which contributes to Atlantic Coast Bank’s evaluation of real estate lending opportunities in Florida. Mr. Beeckler’s experience in the acquisition and development of real estate is also used to assist the board of directors in the acquisition of property for branches and other business office space.

Bhanu Choudhrie

 Mr. Bhanu Choudhrie is Independent Director of Atlantic Coast Financial Corp since July 2010. He has been Executive Director of C&C Alpha Group Limited, a London-based family private equity group, since November 2006 and was the Executive Director of C&C Business Solutions Ltd. from June 2003 to November 2006. Mr. Choudhrie is a private equity investor with investments in the United States, United Kingdom, Europe and Asia. He is also a director of Customers Bank, Phoenixville, Pennsylvania. The board of directors renominated Mr. Choudhrie to obtain the benefit of his business and finance experience and knowledge of global economic trends that may impact the domestic economy.

Frederick Franklin

 Mr. Frederick D. Franklin, Jr., is Independent Director of Atlantic Coast Financial Corp. Mr. Franklin has been a shareholder in the law firm of Rogers Towers, P.A., Jacksonville, Florida since January 2004. He currently serves as the firm’s managing director. His legal experience also includes service as the General Counsel for the City of Jacksonville and its independent authorities. Mr. Franklin specializes in complex commercial litigation and has more than 20 years experience representing banks and federal banking agencies in loan workouts, commercial foreclosures and lender liability actions. His experience as an attorney provides guidance to the board of directors in a number of areas, including litigation, contract negotiation and risk management.

John Linfante

 Mr. John J. Linfante is Independent Director of Atlantic Coast Financial Corporation, since February 27, 2012. Mr. Linfante has 39 years of experience working as a financial executive or chief financial officer at various financial institutions and also was an auditor at Coopers and Lybrand (now PriceWaterhouseCoopers).

W. Eric Palmer

 Mr. W. Eric Palmer is Independent Director of Atlantic Coast Financial Corp. He has been employed by the Mayo Clinic in Florida for the past 20 years. He currently serves as the Operations Manager of Primary Care. He previously served as the Director and Section Head of Patient Financial Services and as Section Manager of Accounts Receivable. Mr. Palmer is active in a number of Jacksonville area civic organizations, which provide an opportunity for the community to learn more about Atlantic Coast Bank and its products and services. Mr. Palmer was associated with Atlantic Coast Federal Credit Union as a member of its Credit Union Service Organization and its Community Advisory Board. In those roles, Mr. Palmer interfaced with members and member organizations and helped identify business development opportunities. Mr. Palmer was originally nominated as a director in order to use his previous experience and familiarity with Atlantic Coast Federal Credit Union members to assist management in the transition from a credit union business to a publicly traded company.

H. Dennis Woods

 Mr. H. Dennis Woods is Independent Director of Atlantic Coast Financial Corp. Mr. Woods is a retired employee of CSX Transportation, Inc., Waycross, Georgia, where he worked from 1964 until 2005. He most recently served as the business manager of the company’s warehouse in Waycross, Georgia. Mr. Woods has served as a director of Atlantic Coast Bank and its predecessor, Atlantic Coast Federal Credit Union, since 1987. From 1977 to 1986, Mr. Woods also served as a member of Atlantic Coast Federal Credit Union’s supervisory committee where, through his interaction with regulators and outside accountants, Mr. Woods developed knowledge and skills that enable him to serve on Atlantic Coast Bank’s board. Further, as a long-time resident in Waycross, Georgia, where Atlantic Coast Bank has its market share, Mr. Woods offers important insight into the financial service needs of that market.

Patrick Watson

Insider Trading

Name Shares Traded Price

FRANKLAND G THOMAS

 1,000 $2.51

FRANKLAND G THOMAS

 500 $1.35

FRANKLAND G THOMAS

 602 $1.28

FRANKLAND G THOMAS

 509 $1.43

FRANKLAND G THOMAS

 335 $1.51

FRANKLAND G THOMAS

 600 $1.25

FRANKLAND G THOMAS

 1,600 $1.25

FRANKLAND G THOMAS

 1,900 $1.16

MARTIN CHARLES E JR

 4,900 $1.37

FRANKLAND G THOMAS

 100 $7.79

FRANKLAND G THOMAS

 200 $7.78

FRANKLAND G THOMAS

 200 $7.98

FRANKLAND G THOMAS

 200 $7.95

FRANKLAND G THOMAS

 300 $8.00
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