This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Atlantic Coast Financial Corporation Reports Fourth Quarter And 2011 Results

Stocks in this article: ACFC

The net loss per basic and diluted share for the year ended December 31, 2010, as originally reported, was $1.08, and the number of basic and diluted weighted average shares outstanding for the year ended December 31, 2010, as reported, was 13,155,000.

   

ATLANTIC COAST FINANCIAL CORPORATION Selected Consolidated Financial Ratios and Other Data (Unaudited)(Dollars in thousands)

 
At and for the

Three Months Ended

Dec. 31,

At and for the

Year Ended

Dec. 31,

2011   2010 2011   2010
Interest rate information
Net interest spread 2.64 % 2.71 % 2.67 % 2.66 %
Net interest margin 2.80 % 2.84 % 2.83 % 2.79 %
 
Average balances
Loans receivable $ 582,913 $ 638,541 $ 585,918 $ 625,947
Total interest-earning assets 755,140 828,597 760,790 846,693
Total assets 797,412 880,219 807,785 898,106
Deposits 513,464 551,001 508,520 569,353
Total interest-bearing liabilities 703,378 786,109 710,543 801,926
Total liabilities 747,035 828,704 754,322 843,188
Stockholders' equity 50,377 51,515 53,463 54,918
 
Performance ratios (annualized)
Return on average total assets -2.00 % -2.37 % -1.27 % -1.58 %
Return on average stockholders' equity -31.67 % -40.42 % -19.24 % -25.85 %
Ratio of operating expenses to

average total assets

3.33 % 3.11 % 3.48 % 2.77 %
Efficiency ratio 89.38 % 79.93 % 85.74 % 77.97 %
Ratio of average interest-earning assets to average interest-bearing liabilities 107.36 % 105.40 % 107.07 % 105.58 %
 
Asset quality ratios
Non-performing loans $ 46,615 $ 28,125 $ 46,615 $ 28,125
Foreclosed assets 5,839 9,940 5,839 9,940
Impaired loans 51,325 47,296 51,325 47,296
Non-performing assets to total assets 6.65 % 4.60 % 6.65 % 4.60 %
Non-performing loans to total assets 5.91 % 3.40 % 5.91 % 3.40 %
Non-performing loans to total loans 8.94 % 4.99 % 8.94 % 4.99 %
Allowance for loan losses to

non-performing loans

33.31 % 47.45 % 33.31 % 47.45 %
Allowance for loan losses to total loans 2.98 % 2.37 % 2.98 % 2.37 %

Net charge-offs to average outstanding loans (annualized)

3.34 % 2.84 % 2.25 % 3.47 %
 
Capital ratios
Stockholders' equity to total assets 5.87 % 5.41 % 5.87 % 5.41 %
Average stockholders' equity to

average total assets

6.32 % 5.85 % 6.62 % 6.11 %




3 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,224.61 +33.24 0.19%
S&P 500 1,996.87 -5.29 -0.26%
NASDAQ 4,615.2630 -22.7310 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs