Ameris Bancorp completed the acquisition of Atlantic Coast Financial (ACFC) and its banking subsidiary, Atlantic Coast Bank. The latter was merged with and into Ameris Bank, with Ameris as the surviving entity.

Atlantic Coast Bank previously operated twelve banking locations, eight of which are located in Jacksonville, FL, with the remaining four located in Southeast Georgia.

Under the terms of the merger agreement, ACFC’s stockholders are entitled to receive for each share of ACFC common stock outstanding $1.39 in cash and 0.17 shares of Ameris common stock. Cash will be paid in lieu of fractional shares of Ameris stock.

Headquartered in Moultrie, GA, Ameris Bank has 97 locations in Georgia, Alabama, northern Florida and South Carolina.