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Ameris Bancorp: Big Changes In Store, Will They Pay Off?

While most banks out there appear to either be in the process of cleaning up their balance sheet or growing their business, not too many of them are in the position of Ameris Bancorp (ABCB), a $422 million bank holding company that is looking to do both at the same time. Ameris Bancorp, with $2.8 billion in assets, recently took on a two-part plan that started in September when it announced a consolidation plan that would seek to eliminate 13 of its 66 branches (currently down to 57), with the second part being revealed in May when it announced a definitive merger agreement to acquire Prosperity Banking Company (not Prosperity Bancshares, ticker PB). When announced, the transaction...

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