Ameris Bancorp, the parent company of Ameris Bank, announced today the finalization of the merger agreement under which Ameris Bank acquired Jacksonville Bancorp Inc., the parent company of The Jacksonville Bank. The transaction was finalized Friday, March 11, 2016.
The transition and conversion of The Jacksonville Bank operating systems, accounts, services and signage to Ameris Bank will be completed in May 2016. Until the transition is complete, The Jacksonville Bank will operate as a division of Ameris Bank. Customers should continue to bank as customary, as all accounts, banking access, terms and conditions remain unchanged at this time.
“Acquiring The Jacksonville Bank is a great opportunity for Ameris Bank to expand our Southeastern footprint and significantly increase our presence in the Jacksonville market,” said Ameris Bank CEO Edwin W. Hortman, Jr. “Through this process, our first priority is our customers. We are very appreciative and grateful to them for continuing to bank with us, and we are committed to making this an easy and informative transition.”
Once the complete transition to Ameris Bank occurs in May, customers will have access to 14 full-service banking locations throughout greater Jacksonville, and Ameris Bank will be the largest community bank by deposit market share in the Jacksonville market.
“We are excited to officially be part of the Ameris Bank team,” said Kendall L. Spencer, President & CEO of Jacksonville Bancorp, “Our banking philosophies and cultures are alike in that we are focused and committed to our customers, and in providing the best service to them and the communities in which we operate.”
The Jacksonville Bank currently has eight retail locations and one virtual-banking site in Jacksonville. Until The Jacksonville Bank’s operating systems are transitioned to Ameris Bank, Jacksonville Bank account assistance will only be available at The Jacksonville Bank locations. Customers will receive regular communication specific to the transition within the next month.
Ameris Bank, headquartered in Moultrie, Ga., has $5.5 billion in assets. Ameris Bancorp, the parent company of Ameris Bank, is traded on the NASDAQ under ABCB. Ameris Bank is focused on creating a distinctly different way of helping customers manage and make the most of their money, offering a full range of services, including traditional banking and lending products and solutions, treasury and cash management services and mortgage and refinancing solutions.