Regulators green-light Atlantic Coast Bank acquisition


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.

In allowing the deal to close, the Federal Reserve Board…

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