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Atlantic Coast Financial Corp (ACFC.OQ)

ACFC.OQ on NASDAQ Stock Exchange Global Market

9.70USD
15 Dec 2017
Change (% chg)

$0.63 (+6.95%)
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Summary

Name Age Since Current Position

John Dolan

58 2016 Independent Chairman of the Board

John Stephens

51 2013 President, Chief Executive Officer, Director

Jay Sidhu

64 2016 Vice Chairman of the Board

Tracy Keegan

47 2015 Chief Financial Officer, Executive Vice President

Phillip Buddenbohm

44 2015 Executive Vice President and Chief Credit Officer of Atlantic Coast Bank

James Hogan

71 2015 Director

Dave Bhasin

64 Independent Director

Bhanu Choudhrie

38 2010 Independent Director

W. Eric Palmer

52 2005 Independent Director

Biographies

Name Description

John Dolan

Mr. John J. Dolan is Independent Chairman of the Board of the Company. He has been the Managing Member of Dolan Finance, LLC, since February 2015, which serves as general partner for Dolan Real Estate Finance, LP, which is a newly formed private investment fund that deals in financing short-term commercial real estate transactions. He was retired from January 2012 until February 2015. Mr. Dolan was employed by First Commonwealth Financial Corporation and its predecessor (First Commonwealth) headquartered in Indiana, Pennsylvania, from 1980 until December 2011. Mr. Dolan most recently served as the President and Chief Executive Officer of First Commonwealth after serving First Commonwealth as Chief Financial Officer for 20 years, and was also a director of First Commonwealth from 2007 to December 2011.

John Stephens

Mr. John K. Stephens, Jr., is President, Chief Executive Officer, Director of Atlantic Coast Financial Corporation. He is also President, Chief Executive Officer of Atlantic Coast Bank. Mr. Stephens is a 24-year veteran of the banking and financial services industry. Mr. Stephens joined us as President and Chief Executive Officer in October 2013. Prior to joining us, from May 2011 until September 2013, Mr. Stephens served as President of Orlando, Florida-based Tower Bridge Capital, Inc., a privately held mezzanine debt and strategic advisory firm focused on emerging growth companies. From 2006 to 2011, he served as Chief Lending Officer for the Central and North Florida operations of Fifth Third Bank, N.A., overseeing a loan portfolio of almost $2 billion and was responsible for strategic leadership for all wholesale banking activities in that market area. Mr. Stephens began his career in 1986 with Wachovia Bank, N.A., now Wells Fargo & Company, where he started as a regional banking officer, later became a relationship manager responsible for originating and managing senior debt and ancillary service relationships with corporate clients, and was ultimately selected to start and lead a leveraged finance group.

Jay Sidhu

Mr. Jay S. Sidhu is Vice Chairman of the Board of the Company. Mr. Sidhu is a director and the Chairman and Chief Executive Officer of Customers where he has served since June 2009. Mr. Sidhu was the Chairman and Chief Executive Officer of Sidhu Advisors, LLC, a private equity and financial services consulting company, from 2006 until 2009. Previously, Mr. Sidhu served as Chairman and Chief Executive Officer of Sovereign where he was employed from 1986 until 2006. Under his leadership, Sovereign grew from a small thrift with less than $1 billion in assets to a nearly $90 billion financial institution, with a branch network of 800 locations serving customers from Maryland to New Hampshire.

Tracy Keegan

Ms. Tracy L. Keegan is Chief Financial Officer, Executive Vice President of Atlantic Coast Financial Corporation. She is also Chief Financial Officer, Executive Vice President of Atlantic Coast Bank. Ms. Keegan shall serve the Company and the Bank as a financial manager. Ms. Keegan has over 27 years of banking experience, including 15 years with The Prudential Banks, a multi-bank franchise wholly owned by Prudential Financial, Inc., where she served as part of the senior executive team and board of directors that grew the bank from de novo to over $6 billion in combined assets. Ms. Keegan began her Florida banking career in January 2006 as Executive Vice President and Chief Financial Officer of Bank of Florida Corporation (“Bank of Florida”), headquartered in Naples, Florida, a multi-bank holding company with three separately chartered banks and a trust company. Ms. Keegan also served as Chief Administrative Officer of Bank of Florida. In June 2010, Ms. Keegan joined EverBank Financial Corp (“EverBank”), headquartered in Jacksonville, Florida, as Director of Investor Relations during the transition and integration of Bank of Florida’s subsidiary banks, which were acquired by EverBank. Ms. Keegan joined Florida Community Bank, headquartered in Weston, Florida, as Executive Vice President and Chief Financial Officer in June 2011. Most recently, Ms. Keegan worked for First Southern Bancorp, Inc. (“First Southern”), headquartered in Boca Raton, Florida, starting in April 2012 as an Executive Vice President, and served as both Chief Financial Officer and Chief Operating Officer. Ms. Keegan was part of an executive team responsible for integrating two FDIC-assisted transactions with the legacy First Southern. Additionally, Ms. Keegan helped develop and execute an organic growth strategy to create franchise value for First Southern. First Southern was acquired by CenterState Banks, Inc. in May 2014.

Phillip Buddenbohm

Mr. Phillip S. Buddenbohm is Executive Vice President and Chief Credit Officer of Atlantic Coast Bank, subsidiary of Atlantic Coast Financial Corporation. He previously served as Senior Vice President of Credit Administration from 2005 until 2007. Formerly a Vice President in the Consumer Services Division of National Commerce Financial Corporation in Memphis, Tennessee, Mr. Buddenbohm has 22 years of experience in lending, credit administration and branch services.

James Hogan

Mr. James D. Hogan is Director of Atlantic Coast Financial Corporation. He is also Chief Risk Officer of Atlantic Coast Bank. Mr. Hogan first joined us as Executive Vice President and interim Chief Financial Officer in December 2013 and served in that role through April 2014. Mr. Hogan recently began serving again as interim Chief Financial Officer in March 2015. Prior to joining us, Mr. Hogan served as Executive Vice President and interim Chief Financial Officer of Customers Bancorp and Customers Bank (collectively with Customers Bancorp, Customers), both headquartered in Southeast Pennsylvania, from October 2012 to August 2013. Mr. Hogan also served as Customers’ Executive Vice President and Director of Enterprise Risk Management from June 2010 to October 2012. From 2005 to 2010, Mr. Hogan was retired, but continued to work occasionally, primarily in private consulting. Mr. Hogan was Executive Vice President and Chief Financial Officer of the Philadelphia-based Sovereign Bancorp, Inc. (Sovereign), now Santander Bank, from 2001 to 2005. Prior to Sovereign, he was Executive Vice President and Corporate Controller of Firstar Bancorp (now US Bancorp) from 1987 to 2001, and was the Controller of The Idaho First National Bank (now West One Bank) from 1978 to 1987. Mr. Hogan became a certified public accountant in 1970, keeping an active license through 2005, and began his career as a bank audit specialist with Coopers and Lybrand (now PriceWaterhouseCoopers).

Dave Bhasin

Mr. Dave Bhasin is Independent Director of Atlantic Coast Financial Corporation. Mr. Bhasin is Chief Executive Officer of D.B. Concepts, Inc., a privately-held company he started in 2000, which operates franchised restaurants with locations throughout East Pennsylvania. In addition, he is the founder and president of various related private companies that own the restaurants and related real estate. Prior to starting D.B. Concepts, Inc., Mr. Bhasin held various technology and business management positions with Air Products & Chemicals, Inc.

Bhanu Choudhrie

Mr. Bhanu Choudhrie is Independent Director of Atlantic Coast Financial Corporation. Mr. Choudhrie rejoined C&C Alpha Group Ltd (C&C Alpha), a London-based private equity group, as Executive Director in August 2014. Mr. Choudhrie previously served in the same position at C&C Alpha from 2006 until February 2014. Prior to this, Mr. Choudhrie served as Executive Director of C&C Business Solutions. He is a private equity investor with investments in the United States, United Kingdom, Europe and Asia, and is currently a director of Customers Bancorp, Inc. (Customers Bancorp) in Pennsylvania and Quatro Management, Inc. in New York.

W. Eric Palmer

Mr. W. Eric Palmer is Independent Director of Atlantic Coast Financial Corporation. Mr. Palmer is a life-long resident of Jacksonville, Florida. He has been employed by the Mayo Clinic for the past 23 years. He currently serves as an Operations Administrator for the Affiliated Practice Network. He previously served as the Operations Manager for Primary Care, the Director and Section Head of Patient Financial Services and as Section Manager of Accounts Receivable. Mr. Palmer is active in a number of Jacksonville area civic organizations, which provide an opportunity for the community to learn more about Atlantic Coast Bank and its products and services. Mr. Palmer was associated with Atlantic Coast Federal Credit Union as a member of its Credit Union Service Organization and its Community Advisory Board. In those roles, Mr. Palmer interacted with members and member organizations and helped identify business development opportunities. Originally, Mr. Palmer was nominated as a director in order to use his previous experience and familiarity with the Atlantic Coast Federal Credit Union members to assist management in the transition from a credit union to a publicly traded bank holding company.

Basic Compensation

Name Fiscal Year Total

John Dolan

--

John Stephens

334,504

Jay Sidhu

162,485

Tracy Keegan

--

Phillip Buddenbohm

152,393

James Hogan

42,450

Dave Bhasin

--

Bhanu Choudhrie

--

W. Eric Palmer

--
As Of  31 Dec 2014