Ameris Bancorp (NASDAQ:ABCB), the parent holding company of Ameris Bank has announced commencement of underwritten public offering. The company has issued offering amounting to around $75 million in of its fixed-to-floating rate subordinated notes due 2027.
Ameris Bancorp has appointed Stephens Inc to be the offering’s book-running managers. The company has issued the Notes in line with a prospectus supplement and prospectus files as a statement of registration filed with U.S. Securities and Exchange Commission (“SEC”). Ameris will use the proceeds from the offering to pay off its dates. A portion of the offerings will hence be issued out as a credit agreement. The company will also use the proceeds to finance its corporate purposes like offering capital to support the company’s organic growth, acquisitions, capital expenditures, financing investment as well as investment in Ameris Bank as regulatory capital.
In a separate segment, Ameris Bank has named Lawton E. Bassett, III as Ameris Bank and group president of the Ameris Bancorp. Bassett holds a bachelor’s degree business administration earned at the University of Georgia. He also holds an associate’s degree in business from Abraham Baldwin Agricultural College (ABAC). He is an honor graduate of Louisiana State University’s Banking School of the South.
In a statement following his appointment, Bassett is it s an honor for him to lead a knowledgeable and talented team of bankers. He said he will be working to help the company in realizing its goals of offering customer-focused services and build more cohesive relationships with customers by offering a wide range of services.
Andy Cheney, the company’s immediate former president will now become chief banking executive of Ameris Bancorp and a member of the Ameris Bank where he will serve the role of oversight and advisory.
Bassett has a wide experience with Ameris Bank spanning for over 19 years. Before his appointment as president, he was the Georgia and Alabama chief banking officer and executive vice president. In this capacity, he was in charge of all the banking activities in Alabama and Georgia. He was also in charge of specialty banking.