Atlantic Coast Financial posts 4Q profit

JACKSONVILLE, Fla. (AP) _ Atlantic Coast Financial Corp. (ACFC) on Tuesday reported net income of $2 million in its fourth quarter.

The bank, based in Jacksonville, Florida, said it had earnings of 13 cents per share. Earnings, adjusted for non-recurring gains, came to 11 cents per share.

The holding company for Atlantic Coast Bank posted revenue of $10.6 million in the period. Its adjusted revenue was $9.1 million.

For the year, the company reported profit of $6.4 million, or 42 cents per share. Revenue was reported as $35.7 million.

Atlantic Coast Financial shares have climbed slightly more than 6 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $7.23, a climb of 31 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ACFC at https://www.zacks.com/ap/ACFC

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Keywords: Atlantic Coast Financial, Earnings Report