UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
--------------------------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 7, 2009
----------------
ATLANTIC COAST FEDERAL CORPORATION
----------------------------------
(Exact name of Registrant as specified in its charter)
Federal 000-50962 59-3764686
--------- --------- ----------
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
505 Haines Avenue, Waycross, Georgia 31501
------------------------------------------
(Address of principal executive offices)
(800) 342-2824
--------------
Registrant's telephone number, including area code
Not Applicable
--------------
(Former Name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
|_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events
On February 7, 2009, Atlantic Coast Federal Corporation (the "Company")
disclosed that in early November Atlantic Coast Federal, MHC, the parent company
of Atlantic Coast Federal Corporation (the "MHC") filed an Application with the
U.S. Treasury to participate in the Capital Purchase Program (the "CPP"), which
is part of the U.S. Treasury's Troubled Asset Relief Program authorized by the
Emergency Economic Stabilization Act of 2008. In January, the Company received a
verbal notification from the Office of Thrift Supervision (the "OTS"), the
Company's primary banking regulator, that the OTS had recommended to the U.S.
Treasury in November that the Company was a qualified candidate for CPP funds.
The U.S. Treasury has taken no action on the MHC's application. The Company
believes that the U.S. Treasury has taken no action on the MHC's application due
to its charter status as a mutual holding company. To date, the U.S. Treasury
has not taken any action on applications submitted by Mutual Holding Companies.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ATLANTIC COAST FEDERAL CORPORATION
Date: February 9, 2009 By: /s/ Robert J. Larison, Jr.
--------------------------------------
Robert J. Larison, Jr.
President and Chief Executive Officer
(Duly Authorized Representative)