-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 El9qSYG7n1+RRubTzFOBHA==

<SEC-DOCUMENT>0000943374-10-000170.txt : 20100129
<SEC-HEADER>0000943374-10-000170.hdr.sgml : 20100129
<ACCEPTANCE-DATETIME>20100129171303
ACCESSION NUMBER:		0000943374-10-000170
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20100128
FILED AS OF DATE:		20100129
DATE AS OF CHANGE:		20100129

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Palmer W Eric
		CENTRAL INDEX KEY:			0001329352

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-50962
		FILM NUMBER:		10560954

	MAIL ADDRESS:	
		STREET 1:		505 HAINES AVENUE
		CITY:			WAYCROSS
		STATE:			GA
		ZIP:			31501

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ATLANTIC COAST FEDERAL CORP
		CENTRAL INDEX KEY:			0001284077
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
		IRS NUMBER:				593764686
		STATE OF INCORPORATION:			X1
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		505 HAINES AVENUE
		CITY:			WAYCROSS
		STATE:			GA
		ZIP:			31501
		BUSINESS PHONE:		9122834711

	MAIL ADDRESS:	
		STREET 1:		505 HAINES AVENUE
		CITY:			WAYCROSS
		STATE:			GA
		ZIP:			31501
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4_palmer-012910ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2010-01-28</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001284077</issuerCik>
        <issuerName>ATLANTIC COAST FEDERAL CORP</issuerName>
        <issuerTradingSymbol>ACFC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001329352</rptOwnerCik>
            <rptOwnerName>Palmer W Eric</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>505 HAINES AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>WAYCROSS</rptOwnerCity>
            <rptOwnerState>GA</rptOwnerState>
            <rptOwnerZipCode>31501</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2010-01-28</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>250</value>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.5</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>13117</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>13.73</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2006-07-28</value>
            </exerciseDate>
            <expirationDate>
                <value>2015-07-28</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>14300</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>14300</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Represents stock options that vest at a rate of 20% per year commencing on July 28, 2006.</footnote>
        <footnote id="F2">Private purchase from mother-in-law.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Richard S. Garabedian, Pursuant to Power of Attorney</signatureName>
        <signatureDate>2010-01-29</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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