Atlantic Coast Bank has named a long-time confidant of activist shareholder Jay Sidhu as the Jacksonville-based bank's interim chief financial officer.<br /><br />James Hogan, 68, was named a director of Atlantic Coast Financial Corp. and its wholly owned bank subsidiary on Sept. 23. Two days later, he was named interim CFO. Both appoints have to be approved by the federal government and Federal Reserve Bank of Atlanta.<br /><br />From October 2012 to August 2013, Hogan was CFO and executive vice president of Customers Bancorp Inc., where Sidhu is CFO. From April 2001 to May 2005, he was CFO and executive vice president of Sovereign Bancorp Inc., where Sidhu made his name before being forced out in 2006.<br /><br />Sidhu is a champion of the idea that Atlantic Coast needs to go in a new direction. He won a fight with the former CEO, who wanted to merge the bank with a South Florida institution, and has been involved in reshaping the board.<br /><br />The bank's next step will be to raise $46 million in a stock sale.