Average User Rating:
2 star rating based on 1 review.

Atlantic Coast Bank

12724 Gran Bay Parkway West, Suite 150
Jacksonville, FL 32258
1- 800-342-2824
www.atlanticcoastbank.net

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Atlantic Coast Bank is headquartered in Jacksonville and is the 32^nd largest bank in the state of Florida. It is also the 849^th largest bank in the nation. It was established in 1939 and as of March of 2012, it had grown to 167 employees at 12 locations. Atlantic Coast Bank's savings rates are 44% higher than the national average, but it has a 2-star health rating.

Atlantic Coast Bank Routing Number: 261271717

Internet CD Specials with Top Rates at Atlantic Coast Bank - 10/20/2011

Atlantic Coast Bank is offering two internet CD specials with very competitive rates. These are a 1.25% APY 13-month CD and a 1.05% APY 7-month CD. Minimum deposit is $1,000. These rates are listed in ...

Atlantic Coast Bank Cuts Reward Checking Rate (Forum) - 8/15/2011

Atlantic Coast Bank cut the top rate of its reward checking account (iKasasa Cash) today from 3.01% to 2.01% APY. The balance cap remains the same at $15,000. The portion of the balance over $15,000 earns 0.50%. Below is the account's rate and balance c

Best High-Yield Reward Checking Accounts in Florida - 4/28/2011

Last week I reviewed some of the best Texas reward checking accounts . This week I'll review some of the best in Florida. For those not familiar with reward checking, you may want to review my recent ...

Opening RCA Account - Hard Pull Or Soft Inquiry ? (Forum) - 1/8/2011

Does the bank do a hard credit pull on the applicants credit report while applying for the account ? Asnybody who has opened an account in the past with them please let us know

2010

11/3 - Atlantic Coast Bank Cuts Reward Checking Balance Cap To $15K (Forum)

2009

10/27 - 2.40% 24-Month Internet CD at Atlantic Coast Bank - Available Nationwide

2008

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See Rates for: Checking | Savings | Money Market | CD

Atlantic Coast Bank Checking Account Rates

Apy	Min	Max	Product
0.80%	-	$15k	High Tide Rewards Checking
0.35%	$25k	-	Tradewinds Business Checking

Atlantic Coast Bank Savings Account Rates

Apy	Min	Max	Product
0.75%	-	$100k	Sunrise Saver
0.20%	-	-	iVacation Club
0.20%	-	-	iChristmas Club

Atlantic Coast Bank Money Market Rates

	Apy	Min	Max	Product
	0.50%	$75k	-	iMoney Market Account

Atlantic Coast Bank CD Rates

Apy	Min	Max	Product
1.00%	$1k	-	36 Month iCertificates of Deposit
0.75%	$1k	-	24 Month iCertificates of Deposit
0.75%	$1k	-	15 Month iCertificates of Deposit - Special
0.50%	$1k	-	12 Month iCertificates of Deposit
0.35%	$1k	-	6 Month iCertificates of Deposit

Rates updated: 5/27/2012

Data for Q1 2012

Institution Statistics

Atlantic Coast Bank
OTS #	17022
FDIC Certificate #	45826
BankRate Report	View
Year Established	1939
Employees	167
Primary Regulator	OCC
Assets and Liabilities
Assets	$778.90 million
Loans	$546.30 million
Deposits	$500.50 million
Equity Capital	$45.35 million
Loan Loss Allowance	$10.99 million
Unbacked Noncurrent Loans	$39.47 million
Real Estate Owned	$4.34 million
Historic Data - March 2011
Assets	$811.86 million
Equity Capital	$52.79 million
Loan Loss Allowance	$10.02 million
Unbacked Noncurrent Loans	$28.42 million
Real Estate Owned	$9.21 million
Profit Margin - Quarterly
Net Interest Margin	2.76%
Return on Assets	-0.8%
Return on Equity	-13.78%
Interest Income	$8.76 million

Institution Health

Overall Score:

2 out of 5

Texas Ratio
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of March 31, 2012 Atlantic Coast Bank had $43.8 million in non-current loans and owned real-estate with $56.34 million in equity and loan loss allowances on hand to cover it. This gives Atlantic Coast Bank a Texas Ratio of 77.75% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Atlantic Coast Bank increased slightly from 59.91% as of March 31, 2011 to 77.75% as of March 31, 2012, resulting in a negative change of 29.76%. This indicates that the balance sheet and financial strength for Atlantic Coast Bank has declined slightly in recent periods.
Deposit Growth
In the past year, Atlantic Coast Bank has decreased its total deposits by -$12.12 million, resulting in -2.36% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Atlantic Coast Bank has shown is below average.
Capitalization
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Atlantic Coast Bank has $778.9 million in assets with $56.34 million in equity, resulting in a capitalization level of 7.23%, which is below average.

Not Terribly Happy With Website Of This Bank
2 stars

- javablonde - Thursday, January 20, 2011 - 12:51 PM

I've had a Rewards Checking account with Atlantic Coast for over two years now. I may be switching today to another Rewards Checking-offering bank.

I really do not care for their online checking, nor their website overall. You are able to have your password emailed to you as clear text which seems a completely bad idea security-wise. Also, once you do log in, it shows your secret security phrase as a banner that goes across your screen (automatically) - so if anyone is watching at all, they have your secret phrase. Or on the off chance that someone has cracked into your account, they have that supposedly secret security info immediately. I've also been forced to change my online password very frequently - perhaps every 90 days. I really wish it did not offer to email you your password and parade around my security phrase.

On the other hand, I have been very pleased with the interest I have earned and the ease of meeting their requirements. I am sad that the cap on the top interest rate balance has dropped from $25,000 to $15,000.

Enjoy!