Atlantic Coast Bank is headquartered in Jacksonville and is the 28th largest bank in the state of Florida. It is also the 820th largest bank in the nation. It was established in 1939 and as of December of 2016, it had grown to 181 employees at 11 locations. Atlantic Coast Bank has a B+ health rating.
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.
I’ve had a home loan with Atlantic Coast for over five years now. I have to make a copy of the last coupon out of my loan book to ensure I will not have a late payment. Atlantic Coast bank is the first bank that I have used for loan that don’t ensure to send you a new coupon book before you use the last one. It is like they are trying to make you have a late payment.
The other issue is I made an insurance claim on my house due to storm damage and the insurance agent sent me a check that had to be endorsed by myself, my wife and Atlantic Coast. We endorsed the check and sent it to them along with the insurance adjuster statement of damage and a contractors estimate for repairs. This was over two months ago and still to this day they have not sent me a check so repairs could be done. I have never heard of a bank not returning the money so the homeowner could ensure repairs could be made so no further damage occurs.
I have had two very bad customer service experiences at Atlantic Coast Bank. First, my debit card information was stolen somehow (I still had my card) with many quick uses of the card on black friday. I immediately stopped the card once I saw the transactions, called the bank, and filed a police report. It wasn't until the police report was mailed to me and then mailed to them that they would after a review process reimburse me the thousands of dollars. It was more than 3 weeks before they reimbursed my money and I had to figure out other ways to pay my bills. The second happened a year later when 3 unauthorized direct withdrawls occurred from a company that I had stopped allowing direct withdrawls from causing insufficient fund charges. The company apologized for there error. However, atlantic coast not only refused to reimburse me for the fees toping over 100 dollars for these fraud charges but they also wanted to charge me another 37 dollars just to freeze my account! It is not worth your time or safety of your money to use there services.
|FDIC Certificate #||45826|
|Return on Assets - YTD||0.98%|
|Return on Equity - YTD||10.83%|
|Annual Interest Income||$33.9MM|
|Assets and Liabilities|
|Assets||Q4 2016vs Q4 2015||$908.0MM$856.2MM|
|Loans||Q4 2016vs Q4 2015||$727.0MM$654.2MM|
|Deposits||Q4 2016vs Q4 2015||$630.5MM$558.5MM|
|Equity Capital||Q4 2016vs Q4 2015||$85.8MM$77.3MM|
|Loan Loss Allowance||Q4 2016vs Q4 2015||$8.2MM$7.7MM|
|Unbacked Noncurrent Loans||Q4 2016vs Q4 2015||$10.2MM$4.2MM|
|Real Estate Owned||Q4 2016vs Q4 2015||$2.9MM$3.2MM|
Sorry, we do not have rate data for Atlantic Coast Bank.