The Federal Reserve Board approved Wednesday Ameris Bancorp's (Nasdaq: ABCB) $145 million acquisition of Atlantic Coast Financial Corporation, allowing Atlantic Coast Bank to be absorbed into Ameris Bank.
The transaction, announced in November, added Atlantic Coast's $913.9 million in assets and 12 banking locations to Ameris, the 159th largest insured depository organization in the country. The transaction received FDIC approval in April.
