Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On October 8, 2012, the Nasdaq Stock Market ("Nasdaq") issued a letter to
Atlantic Coast Financial Corporation (the "Company") informing the Company that
it is not in compliance with the Nasdaq Global Market requirement (Rule
5450(b)(1)(C)) that listed securities maintain a minimum Market Value of
Publicly Held Shares of $5.0 million. The Company has 180 calendar days from the
date of the receipt of the letter from Nasdaq to regain compliance with the
minimum Market Value of Publicly Held Shares of $5.0 million. The Company would
regain compliance if its Market Value of Publicly Held Shares is $5.0 million or
greater for a minimum of ten consecutive business days.
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