Less than two years after U.S. Attorney General Merrick Garland came to Jacksonville to announce a settlement with Ameris Bank over redlining allegations, a federal judge quietly terminated the consent order in the case.
Atlanta-based Ameris Bancorp disclosed the termination in its quarterly report filed Aug. 8 with the Securities and Exchange Commission.
U.S. District Judge Marcia Morales Howard approved the termination May 20 after the U.S. Justice Department filed a motion to end it, but the dismissal was not previously announced.
“In support of this motion, the United States advises the Court that Ameris Bank has demonstrated a commitment to remediation,” the Justice Department said in its motion to dismiss filed in U.S. District Court for the Middle District of Florida, Jacksonville Division.
Garland announced the consent order in October 2023, alleging Ameris “engaged in a pattern or practice of redlining predominantly Black and Hispanic neighborhoods in Jacksonville.”
Ameris denied the allegations but said it agreed to the settlement to avoid litigation.
Under the consent order, Ameris agreed to several provisions to improve its practices in Jacksonville, and the Justice Department said in its motion to dismiss that the bank has complied.
“Ameris Bank has disbursed the full amount of the loan subsidy fund ($7,500,000) as required,” it said.
“Ameris Bank is substantially in compliance with the other monetary and injunctive terms of the Consent Order.”
Ameris has been headquartered in Atlanta since moving its executive offices from Jacksonville in 2019.
Landstar System Inc. said in an Aug. 13 SEC filing it is putting its Mexican subsidiary up for sale amid uncertainty about tariffs affecting the business.
Jacksonville-based Landstar, which provides trucking freight services throughout North America, acquired the business called Landstar Metro for $8.5 million in 2017.
Landstar said it engaged a financial adviser to seek strategic alternatives for the business.
“In part relating to risks and uncertainties associated with doing business in Mexico, the Company has determined that Landstar Metro has not been able to meet the Company’s strategic or operational goals and expectations,” Landstar said in the filing.
The filing did not state the risks and uncertainties but it referenced the company’s first quarter report, which cited potential issues with tariffs.
Landstar said it expects to record a noncash charge to third-quarter earnings of $13 million to $17 million, or 28 cents to 37 cents a share, related to its efforts to sell Landstar Metro.
In addition to that charge, Landstar said it also expects to incur a charge of $9 million, or 20 cents a share, as it winds down a truck brokerage platform called Blue TMS and another charge of $5 million, or 11 cents a share, on its investment in a company called Cavnue which is developing technology for autonomous vehicles.
Landstar reported second-quarter earnings of $41.9 million, or $1.20 per share.
Proficient Auto Logistics Inc. reported higher second-quarter revenue and said clarity on tariffs should help its business of transporting automobiles from manufacturers to dealers.
“The economic impacts of tariffs and policy changes both to our customers and the ultimate consumer are becoming clearer with the announcement of trade agreements,” CEO Rick O’Dell said in an Aug. 11 conference call with analysts, according to a company transcript.
“We view both the removal of policy uncertainty and averted worst-case high cost outcomes as a relative positive for the near term going forward,” he said.
Jacksonville-based Proficient was formed by the merger of five auto transport companies following an initial public offering in May 2024.
Proficient, which has added two more companies since the IPO, said second-quarter revenue rose 21.4% from the first quarter to $115.5 million, with adjusting operating income tripling to $3.8 million.
O’Dell said deliveries in July were stronger than expected.
“While there is typically a seasonal aspect to July in which many OEMs (original equipment manufacturers) elect to close plants for one or two weeks, many domestic plants have continued to operate to meet the higher demand for U.S.-based production,” he said.
Dun & Bradstreet Holdings Inc. reported slightly higher second-quarter revenue but lower earnings in what is likely its last public earnings report before it is acquired.
The Jacksonville-based business data firm agreed in March to a $7.7 billion acquisition by private equity firm Clearlake Capital Group L.P.
That transaction is expected to close in the third quarter.
Dun & Bradstreet’s quarterly report filed Aug. 11 with the SEC said revenue, excluding the impact of foreign exchange rates, rose 0.2% to $585.2 million.
Adjusted earnings fell 17% to $99.1 million.
Dun & Bradstreet did not issue a news release or hold a conference call to discuss its earnings.
Jacksonville-based staffing firm GEE Group Inc. reported a 9% decline in revenue to $24.5 million for its third quarter that ended June 30, which it attributed to volatile macroeconomic conditions and overall weakness in the labor market.
The company had a net loss from continuing operations of $401,000.
“Beginning in the second half of 2023, throughout 2024, and so far in 2025, we have encountered and continue to face very difficult and challenging conditions in the hiring environment for our staffing services,” CEO Derek Dewan said in an Aug. 14 conference call, according to a company transcript.
“These have stemmed from various factors including the over hiring that took place in 2021 and 2022, in the immediate aftermath of the pandemic, and the macroeconomic uncertainty, interest rate volatility and inflation that followed,” Dewan said.
“These conditions have produced a near universal cooling effect on U.S. employment, including businesses’ use of contingent labor and the hiring of full-time personnel,” he said.
Dewan said GEE Group is working on initiatives to improve operations.
“We anticipate continuing improvements in our productivity, aiding in restoring meaningful profitability as soon as practicably possible,” he said.
Duos Technologies Group Inc. recorded a big increase in second-quarter revenue as the company expanded into new businesses.
The Jacksonville-based company expanded last year beyond its core business of railroad safety technology with new subsidiaries that provide artificial intelligence data centers in rural markets and another that installs power systems.
Second-quarter revenue jumped 280% to $5.74 million with the addition of the new businesses.
Duos had a net loss of $3.52 million, which it attributed mainly to noncash stock-based compensation charges and other compensation expenses.
“I am highly confident of our continued progress in the second half, not only achieving our revenue guidance but also I am anticipating that we will be recording the first quarter of breakeven or better in the Company’s history,” CEO Chuck Ferry said in an Aug. 14 news release.
Cadrenal Therapeutics Inc., which is developing an anticoagulation therapy called tecarfarin, said in its quarterly report it has expanded trials for the drug.
“We continue to advance our goal of developing transformative therapeutics to address the gaps in current anticoagulation therapy for patients with complex needs,” CEO Quang Pham said in an Aug. 11 news release.
Ponte Vedra Beach-based Cadrenal announced a clinical trial of tecarfarin for patients with end-stage kidney disease (ESKD) transitioning to dialysis.
“There is a critical need for safe, effective anticoagulants for use in ESKD patients, and tecarfarin’s orphan drug and fast-track designations in ESKD patients with atrial fibrillation underscore this need,” Pham said.
Cadrenal, which has no products on the market, reported a net loss of $3.7 million for the second quarter.
ParkerVision Inc. said in its second-quarter report it is closer to bringing patent infringement cases to trial against telecommunications companies it alleges are illegally using wireless technology developed by the company.
Jacksonville-based ParkerVision said two trials are scheduled in Texas in the first quarter of 2026, while the company has other infringement cases pending.
“ParkerVision continues working to raise awareness of the essential role innovators play in driving technological leadership and national security for the United States,” CEO Jeffrey Parker said in an Aug. 12 news release.
“We have intellectual property assets that are yet untapped that we believe can bring significant benefits to burgeoning advanced wireless applications such as 5G, but we also firmly believe that a solid U.S. patent protection system is crucial in order to justify the continuation of investment in innovation,” he said.
ParkerVision, which has no products on the market and no revenue, reported a second-quarter net loss of $1.6 million.
Gladstone Investment Corp. disclosed in its quarterly report it invested $12.8 million in Jacksonville-based Sun State Nursery and Landscaping.
The investment consists of $9.8 million of secured first lien debt and $3.1 million of preferred equity.
Gladstone announced in May it was investing in Sun State in partnership with Everglades Equity LLC but did not disclose the size of the investment. The company did not say what its ownership position is in Sun State.
Sun State’s website says the company was formed in 1976 and provides commercial landscape services in Northeast Florida and Southeast Georgia.
McLean, Virginia-based Gladstone is a publicly traded company that says it makes secured debt and equity investments in lower middle-market businesses in the U.S.