UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): November 27, 2007
ATLANTIC COAST FEDERAL CORPORATION
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(Exact name of Registrant as specified in its charter)
Federal 000-50962 59-3764686
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(State or Other (Commission (I.R.S. Employer
Jurisdiction File Number) Identification No.)
of Incorporation)
505 Haines Avenue, Waycross, Georgia 31501
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(Address of principal executive offices)
(800) 342-2824
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Registrant's telephone number, including area code
Not Applicable
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(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 November 27, 2007, Atlantic Coast Financial Corporation (the
"Company") announced that the community portion of its second-step offering has
been extended to December 28, 2007. The Company is a recently formed Maryland
corporation, the proposed holding company for Atlantic Coast Bank and successor
company for Atlantic Coast Federal Corporation, a federal corporation.
Subscriptions received to date are not sufficient to reach the minimum of the
offering range. Current orders received will be maintained by the Company, with
interest accruing on subscribers' funds. The Company is currently reviewing
market conditions to determine when it may commence a syndicated offering to
sell shares to the general public not subscribed for in the subscription and
community offerings.
At special meetings held on November 27, 2007, the stockholders of
Atlantic Coast Federal Corporation and the members of Atlantic Coast Federal,
MHC approved the plan of conversion and reorganization. The completion of the
conversion and offering remains subject to (1) final approval from the Office of
Thrift Supervision to complete the conversion and offering, including approval
of the final appraisal, and (2) the sale of at least 11,475,000 shares.
A copy of the press release dated November 27, 2007, is filed as
Exhibit 99.1 hereto.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits.
99.1 Press release dated November 27, 2007.
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: November 28, 2007 By: /s/ Robert J. Larison, Jr.
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Robert J. Larison, Jr.
President and Chief Executive Officer
(Duly Authorized Representative)
EXHIBIT INDEX
Exhibit
Number Description of Exhibit(s)
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99.1 Press release dated November 27, 2007.