Shareholders of Atlantic Coast Financial Corp. last week overwhelmingly approved the Jacksonville-based banking company’s proposed acquisition by Ameris Bancorp.
At a special shareholders meeting Wednesday, 12.1 million shares were voted for the $147 million merger and just 29,613 against, according to a Securities and Exchange Commission filing.
Under the merger agreement signed in November, Atlantic Coast Financial stockholders will get $1.39 in cash and 0.17 shares of Ameris stock for each of their shares.
The companies expect to close the deal in the second quarter.
Ameris officially is headquartered in Moultrie, Georgia, but its executive offices are in Jacksonville.