Ameris Bank (ABCB) to Acquire Montgomery Bank & Trust
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Ameris Bank (Nasdaq: ABCB) entered a definitive agreement with the Federal Deposit Insurance Corporation ("FDIC") to assume the deposits and certain assets of Montgomery Bank & Trust, a full-service bank with two branches located in Ailey and Vidalia, Georgia. The Georgia Department of Banking & Finance declared Montgomery Bank & Trust, headquartered in Ailey, closed today and appointed the FDIC as receiver for the financial institution. The FDIC sold certain assets and deposit liabilities of Montgomery Bank & Trust to Ameris Bank.
As branches of Ameris Bank, the two offices in Ailey and Vidalia will be open and serving customers on Monday, July 9, 2012, during the bank's normal business hours. Montgomery Bank & Trust depositors will automatically become depositors of Ameris Bank, and deposits will continue to be insured by the FDIC (up to FDIC maximum).
As a result of the Montgomery Bank & Trust acquisition, Ameris Bank will assume approximately $164.4 million in total deposits and $12.4 million in total assets.
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As branches of Ameris Bank, the two offices in Ailey and Vidalia will be open and serving customers on Monday, July 9, 2012, during the bank's normal business hours. Montgomery Bank & Trust depositors will automatically become depositors of Ameris Bank, and deposits will continue to be insured by the FDIC (up to FDIC maximum).
As a result of the Montgomery Bank & Trust acquisition, Ameris Bank will assume approximately $164.4 million in total deposits and $12.4 million in total assets.
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