Ameris Bancorp

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Ameris Bancorp
TypePublic company
NasdaqABCB
S&P 600 component
IndustryBanking
Financial services
PredecessorsAmerican Banking Company
ABC Holding Company
ABC Bancorp
FoundedOctober 1, 1971; 50 years ago (1971-10-01) (as American Banking Company)
December 18, 1980; 41 years ago (1980-12-18) (as ABC Holding Company)
Moultrie, Georgia[1]
FounderEugene M. Vereen, Jr.
Headquarters
Area served
Georgia
Alabama
Florida
South Carolina
North Carolina
Tennessee
Virginia
Maryland
Key people
H. Palmer Proctor, Jr., CEO
James B. Miller, Jr., Chairman
Nicole S. Stokes, CFO
Lawton E. Bassett III, President
ProductsRetail banking
Commercial bank
Credit cards
Mortgage loans
RevenueIncrease $534.042 million (2021)
Increase $213 million (2021)
Total assetsIncrease $21.886 billion (2021)
Total equityIncrease $2.827 billion (2021)
Number of employees
2,702 (2021)
Websitewww.amerisbank.com
Footnotes / references
[2]
Riverplace Tower offices in Jacksonville

Ameris Bancorp is a bank holding company headquartered in Atlanta. Through its bank subsidiary, Ameris Bank, the company operates full-service branches in Georgia, Alabama, Florida, North Carolina and South Carolina, and mortgage-only locations in Georgia, Alabama, Florida, North Carolina, South Carolina, Virginia, Maryland, and Tennessee.

History[edit]

Former logo before rebrand

The company was founded on October 1, 1971 in Moultrie, Georgia as American Banking Company by Eugene M. Vereen, Jr. The bank started with one location and $1 million in capital. Vereen said he "envisioned a bank for the future" that "set out to create a collective mindset that doesn't rely on tired banking norms or cookie-cutter solutions."[1]

In 1980, ABC Holding Company was formed as a parent company to American Banking Company before changing its name to ABC Bancorp in 1986. Sixteen years after its founding, ABC Bancorp became a public company in 1987 via an initial public offering and in 1994 began trading on the Nasdaq. The company changed to its current name of Ameris Bancorp in 2005.[3]

What started as a regional bank in South Georgia began its expansion into neighboring states in 1996 when it branched into Alabama. Four years later, the bank expanded into Florida. In 2006, the bank expanded into South Carolina and into North Carolina in 2020. The bank now maintains 166 full-service branches in those five states combined, with additional mortgage-only locations in Alabama, Georgia, Florida, South Carolina, North Carolina, Virginia, Maryland and Tennessee.[4]

Since 1979, Ameris Bank has successfully completed 35 mergers and acquisitions. That includes the $24.5 million acquisition of Prosperity Banking Company in 2013,[5] the $37.3 million acquisition of Coastal Bankshares in 2014,[5] the $50 million acquisition of Merchants & Southern Banks of Florida in 2015,[6] the $96.4 million acquisition of Jacksonville Bank in 2016,[6] the $169.3 million acquisition of Atlantic Coast Financial in 2018,[7] the $397.1 million acquisition of Hamilton State Bank in 2018[6] and the $869.3 million acquisition of Fidelity Southern Corporation in 2019.[6]

Between 2009 and 2012, in transactions organized by the Federal Deposit Insurance Corporation, the company acquired American United Bank,[8] United Security Bank,[9] Satilla Community Bank,[10] First Bank of Jacksonville,[11] Darby Bank & Trust,[12] Tifton Banking Company,[13] One Georgia Bank,[14] High Trust Bank,[15] Central Bank of Georgia,[16] and Montgomery Bank & Trust,[17] all of which suffered from bank failure.

Ameris moved its executive team to Jacksonville, Florida in 2016,[18] where they remained for three years before moving to their current headquarters in Atlanta.[18]

PPP Loans[edit]

As an SBA-preferred lender, Ameris Bank worked with its commercial customers to provide relief during the 2020-2021 COVID-19 pandemic. The bank originated more than $1.5 billion in Paycheck Protection Program (PPP) loans to more than 14,000 businesses, including intentional outreach to more than 400,000 minority and woman-owned businesses.[4]

Ameris Rebrand[edit]

In 2019, the bank rebranded and launched a new logo, complete with its now synonymous lion. The lion is a symbol of Ameris Bank's strength and courage, pride and fierce determination. It represents Ameris taking bold steps and diverging from the pack, seeing past decades of tired banking norms for a better way.[19]

See also[edit]

References[edit]

  1. ^ a b "History". Ameris Bancorp.
  2. ^ "Ameris Bancorp 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  3. ^ "Our History".
  4. ^ a b "50th Anniversary".
  5. ^ a b "Inline XBRL Viewer".
  6. ^ a b c d "Mergers & Acquisitions - Ameris Bancorp".
  7. ^ "Ameris Bancorp Completes Acquisition of Atlantic Coast Financial Corporation".
  8. ^ "FDIC: Failed Bank Information for American United Bank, Lawrenceville, GA".
  9. ^ "FDIC: Failed Bank Information for United Security Bank, Sparta, GA".
  10. ^ "FDIC: Failed Bank Information for Satilla Community Bank, Saint Marys, GA".
  11. ^ "First Bank of Jacksonville fails | Jacksonville Business Journal". Archived from the original on 2010-10-25.
  12. ^ "FDIC: Failed Bank Information for Darby Bank & Trust Co., Vidalia, GA".
  13. ^ "FDIC: Failed Bank Information for Tifton Banking Company, Tifton, GA".
  14. ^ "FDIC: Failed Bank Information - Bank Closing Information for One Georgia Bank, Atlanta, GA".
  15. ^ "FDIC: Failed Bank Information for High Trust Bank, Stockbridge, GA".
  16. ^ "FDIC: Failed Bank Information for Central Bank of Georgia, Ellaville, GA".
  17. ^ "FDIC: Failed Bank Information - Question and Answer Guide for Montgomery Bank & Trust, Ailey, GA".
  18. ^ a b "Ameris Bank moves headquarters, top executives to Atlanta | Jax Daily Record". 24 October 2019.
  19. ^ "Why Ameris Bank".

External links[edit]