Atlantic Coast Financial board members approved
Two of the men nominated to the board of Atlantic Coast Financial Corp.[6] by (previously) dissident shareholder Jay Sidhu[7] have had their appoints approved by the Federal Reserve Bank of Atlanta.
Kevin G. Champagne[8] and John J. Dolan[9] formally began as directors of the company on Aug. 30 after being elected Aug. 16.
Having the two new directors take over means that board members Thomas F. Beeckler[10] and Charles E. Martin[11] are no longer serving.
Sidhu, who opposed having Atlantic Coast merge with Bond Street Holdings, had said the company needed a new board and CEO [12]if it were to find its way forward.
Sidhu himself had resigned from the board[13] in 2012, saying the bank wasn't managing risk properly.
Dave Bhasin[14] — who Sidhu had also nominated and was then elected — is still being reviewed by the Federal Reserve Bank of Atlanta.
Champagne and Dolan have both been named to the bank's Audit Committee, with Dolan as chairman and Champagne as the Audit Committee Financial Expert.
References
- ^ Timothy Gibbons (feeds.bizjournals.com)
- ^ This email address is being protected from spambots. You need JavaScript enabled to view it. (feeds.bizjournals.com)
- ^ Twitter (twitter.com)
- ^ Google+ (plus.google.com)
- ^ Facebook (www.facebook.com)
- ^ Atlantic Coast Financial Corp. (www.bizjournals.com)
- ^ Jay Sidhu (feeds.bizjournals.com)
- ^ Kevin G. Champagne (feeds.bizjournals.com)
- ^ John J. Dolan (feeds.bizjournals.com)
- ^ Thomas F. Beeckler (feeds.bizjournals.com)
- ^ Charles E. Martin (feeds.bizjournals.com)
- ^ needed a new board and CEO (www.bizjournals.com)
- ^ resigned from the board (www.bizjournals.com)
- ^ Dave Bhasin (feeds.bizjournals.com)