Federal regulations require prior regulatory approval before a converted savings institution or its holding company may enter into an agreement for a business combination or take any other action that would result in any person or entity holding more than a 10% ownership interest in a converted savings institution or its holding company for three years.There can be no assurances that the Company will pursue or complete a business combination or a capital-raising transaction. The Board of Directors will review all possible strategic alternatives and weigh the relative benefits of such alternatives to stockholders. The Company does not intend to disclose developments with respect to the progress of its strategic alternatives review process until such time as the Board of Directors approves or completes a transaction or otherwise determines that further disclosure is appropriate.
Atlantic Coast Financial Corporation Engages Stifel Nicolaus Weisel To Explore Strategic Alternatives
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