Ameris Bancorp is closing in on completing its purchase of Jacksonville-based Atlantic Coast Financial Corp. and is on the lookout for more acquisition targets.
“We believe that we should get approval on the ACFC transaction in Jacksonville any day now, and we’re prepared to close right away,” CEO Edwin Hortman said in the company’s quarterly conference call.
He did not say which regulatory agencies still need to give approval.
Hortman said the conversion is scheduled for mid-June and he welcomed the bankers who will be joining the company from Orlando, Tampa and here in Jacksonville.
Atlantic Coast Financial has eight bank branches in Jacksonville and three in Southeast Georgia, and has loan offices in Orlando and Tampa.
Ameris officially is headquartered in Moultrie, Georgia, but its executive offices are in Jacksonville.
The company has another deal pending to expand in the Atlanta area with the acquisition of Hamilton State Bancshares Inc., and Hortman said he is talking to other potential merger partners.
“I expect some of these conversations will continue throughout the year and that as we close and integrate the two pending deals, we’ll be ready to move ahead with something else,” he said.
Ameris reported adjusted first-quarter earnings of 73 cents a share, up from 60 cents in the first quarter of 2017.