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Ameris Bancorp Announces Significant Restructuring and Consolidation Plan
By: PR Newswire
Dec. 7, 2012 06:00 PM
MOULTRIE, Ga., Dec. 7, 2012 /PRNewswire/ -- AMERIS BANCORP (NASDAQ-GS: ABCB) today reported restructuring and consolidation plans which are expected to reduce annual operating expense by approximately $12.1 million. "This plan is the result of the ongoing analysis of our operations by our Board of Directors and our executive management team. Our mission statement calls for us to be a high-performing community bank, and the most direct path to accomplishing our mission in today's environment requires the changes we have outlined. The plan we have developed is certainly achievable and within our control. I believe this plan demonstrates our determination to achieve high-performing results," said Edwin W. Hortman, Jr., President and CEO.
Consolidation of Banking Facilities
Restructuring of Ameris Bank & Corporate Support Functions:
Fourth Quarter Charge
Ameris Bancorp is headquartered in Moultrie, Georgia. At the end of the most recent quarter the Company had 66 locations in Georgia, Alabama, northern 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
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