Atlantic Coast Financial Corp (ACFC) financial statements (2023 and earlier)

Company profile

Business Address 4655 SALISBURY ROAD
JACKSONVILLE, FL 32256
State of Incorp.
Fiscal Year End December 31
SIC 6035 - Savings Institutions, Federally Chartered (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
12/31/2012
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments50,40959,89323,58122,398114,19467,828
Cash and cash equivalents50,40959,89323,58122,398114,19467,828
Disposal group, including discontinued operation   7,219  
Deferred tax assets4,1086,7529,107   
Total current assets:54,51766,64532,68829,617114,19467,828
Noncurrent Assets
Property, plant and equipment14,17214,94515,47214,50514,25314,584
Assets held-for-sale, long lived13,200 
Total noncurrent assets:14,17214,94515,47214,50527,45314,584
Other undisclosed assets914,567825,869809,038662,376591,986690,207
TOTAL ASSETS:983,256907,459857,198706,498733,633772,619
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt  9,99171,300  
Total current liabilities:  9,99171,300  
Noncurrent Liabilities
Other undisclosed liabilities892,596820,441766,469562,862668,108732,359
Total liabilities:892,596820,441776,460634,162668,108732,359
Stockholders' equity
Stockholders' equity attributable to parent, including:90,66087,01880,73872,33665,52540,260
Common stock15615515515515526
Additional paid in capital100,443100,361100,458100,604100,79456,132
Deferred compensation equity(111)(99)(248)(297)(317) 
Accumulated other comprehensive income (loss)(1,438)(1,626)(1,332)(2,009)(7,559)686
Accumulated deficit(7,037)(10,316)(16,734)(24,452)(25,779)(14,373)
Unearned esop shares(1,353)(1,457)(1,561)(1,665)(1,769)(1,873)
Other undisclosed stockholders' equity attributable to parent     (338)
Total stockholders' equity:90,66087,01880,73872,33665,52540,260
TOTAL LIABILITIES AND EQUITY:983,256907,459857,198706,498733,633772,619

Income statement (P&L) ($ in thousands)

12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
12/31/2012
Revenues36,81335,96731,02227,8502,9883,344
Net investment income32,81231,68126,70524,200  
Financial services revenue4,0014,2864,3173,6502,9883,344
Cost of revenue(2,399)(2,295)(2,133)(3,201)(7,026)(12,491)
Cost of goods and services sold(2,399)(2,295)(2,133)(1,935)  
Financial services costs   (1,266)(7,026)(12,491)
Gross profit:34,41433,67228,88924,649(4,038)(9,147)
Operating expenses(18,672)(17,897)(16,086)(13,723)(10,682)(9,921)
Other operating income, net
(Noninterest Income, Other Operating Income)
7561,505499617697547
Other undisclosed operating income     81,821
Operating income (loss):16,49817,28013,30211,543(14,023)63,300
Nonoperating income470465480801380444
Investment income, nonoperating   355  
Bank owned life insurance income470465480446380444
Interest and debt expense(7,378)(7,417)(8,686)(4,312)(3,595)(14,270)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(1,863)(278)(6,885)(6,705)5,832(55,991)
Income (loss) from continuing operations before income taxes:7,72710,050(1,789)1,327(11,406)(6,517)
Income tax expense (benefit)(4,559)(3,632)9,507(5,781) (150)
Net income (loss):3,1686,4187,718(4,454)(11,406)(6,667)
Other undisclosed net income attributable to parent   5,781  
Net income (loss) available to common stockholders, diluted:3,1686,4187,7181,327(11,406)(6,667)

Comprehensive Income ($ in thousands)

12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
12/31/2012
Net income (loss):3,1686,4187,718(4,454)(11,406)(6,667)
Other comprehensive income (loss)299(294)6775,550  
Other undisclosed comprehensive income (loss)(3,168)(6,418)(7,718)4,4543,1617,237
Comprehensive income (loss):299(294)6775,550(8,245)570
Other undisclosed comprehensive income (loss), net of tax, attributable to parent3,1686,4187,7181,327(11,406)(6,667)
Comprehensive income (loss), net of tax, attributable to parent:3,4676,1248,3956,877(19,651)(6,097)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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