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Ameris Bancorp to buy The Coastal Bank

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POSTED: March 11, 2014 9:51 a.m.

MOULTRIE -- Ameris Bancorp, the parent company of Ameris Bank, Tuesday announced the acquisition of The Coastal Bank (Coastal Bankshares, Inc), scheduled to close in the third quarter of 2014. Once this merger is finalized, Ameris Bank will be the largest community bank on the Georgia coast.

Edwin W. Hortman Jr., Ameris Bank chief executive officer said, “We are excited to announce this merger with The Coastal Bank in Savannah, Ga.. This merger is a great opportunity for our company, paving the way for a more promising future for our customers, employees and company. Ameris Bank, like The Coastal Bank, is a community bank rich in history, with strong values, a passion for excellent customer service, and a belief in the power of our community. As we move forward with regulatory approvals and then system conversions, we constantly remember how important our customers are and remain attentive to any concerns or questions they might have.”

Once the legal merger is completed, Coastal Bank customers will have access to over 25 additional banking locations along the Georgia, South Carolina and northern Florida coast, in addition to the other numerous banking locations throughout Ameris Bank’s four-state footprint. Within the coming months, customers of The Coastal Bank will receive additional information from Ameris Bank regarding this acquisition.

James A. LaHaise, president and chief executive officer of The Coastal Bank, said, “The Coastal Bank is pleased to partner with Ameris Bank. This partnership is a great opportunity for our customers and our communities, as Ameris Bank is a strong community bank and one of the leading community banks in the Southeast.”

Ameris Bank is headquartered in Moultrie and has more than 68 branch offices in Georgia, Alabama, Florida and South Carolina. The parent company, Ameris Bancorp is listed on NASDAQ under the symbol ABCB. For more information about Ameris Bank, go to  amerisbank.com.

 

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