Ameris Bancorp Closes $90.0 Million Common Stock Offering

MOULTRIE, Ga., April 20 /PRNewswire-FirstCall/ -- AMERIS BANCORP (Nasdaq: ABCB) -- Ameris Bancorp, a $2.44 billion financial holding company and parent company of Ameris Bank, today announced the closing of its previously announced underwritten public offering at a price of $9.50 per share.  Ameris sold 9,473,125 shares of its common stock in the offering, including shares issued to the underwriters in connection with the exercise of their over-allotment option, for gross proceeds of approximately $90.0 million.  The net proceeds to the Company, after deducting underwriting discounts and commissions and estimated offering expenses, were approximately $84.9 million.  

Keefe, Bruyette & Woods acted as lead manager and sole book runner for the offering, with Sterne, Agee & Leach, Inc. serving as co-manager.

Ameris Bancorp is headquartered in Moultrie, Georgia.  At the end of the most recent quarter, it had 53 locations in select markets in Georgia, Alabama, Florida and South Carolina.

This news release contains statements that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "believe", "estimate", "expect", "intend", "anticipate" and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates which they were made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors. Readers are cautioned not to place undue reliance on these forward-looking statements and are referred to the Company's periodic filings with the Securities and Exchange Commission for a summary of certain factors that may impact the Company's results of operations and financial condition.

SOURCE Ameris Bancorp

Copyright 2009 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.