The bank holding companies have inked a definitive merger agreement to this effect.
As per the agreed terms, Jacksonville Bancorp shareholders will receive $16.50 in cash per share.
Subject to customary closing conditions, regulatory approvals and approval by Jacksonville Bancorp shareholders, the deal is expected to be completed in the first quarter of 2016.
The deal will create a combined entity with $5.7bn in assets, $4bn in loans, $4.9bn in deposits and a branch network of 101 banking locations across four states, inclusive of Ameris’s recently announced branch consolidation.
Ameris Bank has 103 locations in Georgia, Alabama, northern Florida and South Carolina.
Jacksonville Bancorp currently operates eight banking locations in the Jacksonville MSA, as well as one cyber banking site.
Ameris president and CEO Edwin W. Hortman, Jr. said: "We are pleased to announce our merger with Jacksonville Bancorp, as it will accelerate our growth momentum in the greater Jacksonville, Florida market.
"We believe that this transaction will allow us to better serve our combined customer base, provide greater access to the variety of banking services we offer and help us build a stronger presence to positively impact our community."
In 2013, Ameris Bancorp agreed to acquire Prosperity Banking Company to expand its existing Southeastern operations in several Florida markets.
Image: Ameris and Jacksonville Bancorp sign definitive merger agreement. Photo: courtesy of Chaiwat / FreeDigitalPhotos.net.
