Market Overview

FirstCity Bank of Commerce Announces Executive Leadership Changes


FirstCity Bank of Commerce ("FirstCity") today announced
changes to its executive leadership team and Board of Directors. The
changes include the addition of the executive team from the former
Atlantic Coast Financial Corporation (NASDAQ:ACFC), including John K.
Stephens, who will join FirstCity as CEO, Tracy L. Keegan, who
joins as President and CFO, and Phillip Buddenbohm, who joins as Chief
Lending Officer. Both Stephens and Keegan will be joining the Board of
Directors. All three additions will serve in interim roles pending
regulatory approval.

Chairman of the current Board David S. Worley commented, "We have
restructured our executive leadership team and Board of Directors as we
prepare for the next phase of growth at FirstCity. We are excited
about adding an experienced executive team such as John, Tracy and
Phillip, who have a proven track record in creating a high-growth,
high-performing franchise in great markets."

John K. Stephens was most recently President and CEO of Atlantic Coast
Financial Corporation and Atlantic Coast Bank ("Atlantic Coast"). After
joining Atlantic Coast in September 2013, Stephens helped recapitalize
the bank through a successful $48 million capital raise, restructured
the balance sheet, and created growth and earnings momentum that
ultimately allowed the bank to be sold at almost three times the stock
price of the initial capital raise. Prior to Atlantic Coast, John was
President and CEO of Tower Bridge Capital, Inc., a privately held
mezzanine finance and advisory firm. Previously, Stephens served as the
commercial banking executive for the Fifth Third Bank's central and
north Florida markets. With more than 20 years of experience, he began
his career at Wachovia Bank, rising to Senior Vice President and
Director of Corporate Banking. Stephens holds an MBA from the University
of Notre Dame and completed his undergraduate studies at Wake Forest
University and the University of South Carolina.

Tracy L. Keegan was Executive Vice President, Chief Financial Officer
and Corporate Secretary for Atlantic Coast, having joined the Bank in
March 2015. In her role, Tracy was responsible for Accounting, Finance,
Treasury, Investor Relations and various operational units within the
Bank, including Information Technology. With close to 30 years of
experience, Keegan has held significant senior executive officer roles
in her career and has extensive experience in starting, recapping and
growing financial organizations from the de novo stage to over $6
billion in assets. Having served as Chief Financial Officer, Chief
Operating Officer and Chief Administrative Officer, she has run all
aspects of banking, including Finance, Accounting, Treasury, planning
and analysis, Information Technology, Human Resources, Operations,
Retail, Marketing, and Credit Administration. Keegan also has deep
experience with public company franchises, including IPOs, as well as
turning around troubled/failing financial institutions. Among her many
community service relationships, Keegan has served on the Board of
Directors for Broward Partnership of SE Florida and PACE. In addition,
in 2014 Governor Rick Scott appointed Keegan to the Florida Board of
Accountancy, where she currently serves as Vice Chairman. Keegan
attended the University of Alabama in Huntsville and holds a Bachelor of
Science degree in Accounting.

Phillip S. Buddenbohm was the Executive Vice President, Chief Credit
Officer for Atlantic Coast, having joined the Bank in 2005. He was
responsible for all credit functions including retail (Personal
Banking), mortgage and commercial credit, loan servicing, collections
and compliance. Buddenbohm has more than 20 years of experience in
various management capacities including commercial and private banking,
residential mortgage and correspondent lending, and retail and small
business lending. Prior to Atlantic Coast, he was with National Commerce
Financial Corporation for 13 years until its merger with SunTrust Bank.
Phillip has an undergraduate degree in Finance from the University of

About FirstCity Bank of Commerce

FirstCity Bank of Commerce provides a wide range of
relationship-driven commercial banking products and services tailored to
meet the needs of businesses, professionals and individuals in the SE
Florida market.

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