There's more M&A activity in the community bank sector, with Atlantic Coast Financial...

|About: Atlantic Coast Federal C... (ACFC)|By:, SA News Editor

There's more M&A activity in the community bank sector, with Atlantic Coast Financial Corporation (ACFC) agreeing to be acquired by Bond Street Holdings for $5/share in cash. There's a twist: $2 of the purchase price will be held in escrow for one year to cover potential losses from stockholder claims. Shares +40% premarket to $4.96. (PR)