Ameris Bancorp Receives Approval To Repurchase Up To $24 Million Of TARP Preferred Stock

   Ameris Bancorp Receives Approval To Repurchase Up To $24 Million Of TARP
                               Preferred Stock

PR Newswire

MOULTRIE, Ga., Nov. 30, 2012

MOULTRIE, Ga., Nov. 30, 2012 /PRNewswire/ -- AMERIS BANCORP (NASDAQ-GS: ABCB),
todayannounced that the Company has receivedregulatory approval for it to
repurchase up to $24 million in sharesof the preferred stock the Company
originally issued to the U.S. Treasury under the Troubled Asset Relief Program
(TARP) in November 2008. The Company intends toeffect such repurchases as
soon as practicable in order to reduce the dividends payable with respect to
the preferred stock, thereby positively impacting the Company's 2013 results.
The Company anticipates completing additional periodic reductions in the
remaining balance of the original $52 million TARP preferred stock investment
through February 2014, subject to the receipt of regulatory approval and
available earnings. The preferred stock was sold by the Treasury to other
investors in June 2012 through a registered public offering as part of the
Treasury's efforts to wind down its remaining TARP bank investments.

(Logo: http://photos.prnewswire.com/prnh/20051117/CLTH039LOGO )

"We are pleased to start the process ofretiring the TARP preferred stock.
This additional capital gave us flexibility during a tough economic cycle and
has allowed us to execute offensive strategies and continue growing. Our
plans remain intact to retire all of the preferred shares before thestock's
dividend rate increases, without issuing additional common shares," said Edwin
W. Hortman, Jr., President and CEO.

Ameris Bancorp is headquartered in Moultrie, Georgia, and at the end of the
most recent quarter 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 Section27A of the Securities Act of 1933,
as amended, and Section21E 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

Website: http://www.amerisbank.com
Contact: Dennis J. Zember Jr., Executive Vice President & CFO, +1-229-890-1111
 
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