MOULTRIE, Ga., June 18, 2015 /PRNewswire/ -- AMERIS
BANCORP (NASDAQ-GS: ABCB), Moultrie,
Georgia, today announced the completion of its
previously announced acquisition of 18 branches from Bank of
America, National Association. Deposits assumed in the
transaction totaled approximately $654
million, with an additional $3.5
million in loans assumed and $12
million in fixed assets acquired.
Commenting on the transaction, Edwin W.
Hortman, Jr., President and CEO of Ameris Bancorp, said, "We
are pleased to have this acquisition and conversion of the branches
behind us and look forward to servicing the new customers of
Ameris Bank. Our focus now is on
investing the new liquidity from both of our recent transactions
and achieving the revenue targets we established previously. Our
organic loan production, combined with the purchase of investments
and whole loan pools, appear to be sufficient to have the new funds
fully invested by the end of 2015 at better than initially expected
yields."
Ameris Bancorp is headquartered in Moultrie, Georgia, and has, as of the date of
this news release, 104 locations in Georgia, Alabama, northern Florida and South
Carolina.
This news release contains statements that constitute
"forward-looking statements" within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. The words
"believe", "estimate", "expect", "intend", "anticipate" and similar
expressions and variations thereof identify certain of such
forward-looking statements, which speak only as of the dates which
they were made. Ameris Bancorp (the "Company") undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. Readers are cautioned that any such forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties and that actual results may differ
materially from those indicated in the forward-looking statements
as a result of various factors. Readers are cautioned not to place
undue reliance on these forward-looking statements and are referred
to the Company's periodic filings with the Securities and Exchange
Commission for a summary of certain factors that may impact the
Company's results of operations and financial condition.
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SOURCE Ameris Bancorp