The Coastal Bank has finalized its merger with Ameris Bank in the wake of the approval of the deal by the local bank’s board of directors.
Jim LaHaise, the CEO of Coastal, will become an executive vice president at Ameris, while Austen Carroll will continue as Ameris market president for Savannah.
Both will oversee the conversion of Coastal Bank operating systems to Ameris Bank, scheduled to be complete in August.
“We are thrilled to be a part of the Ameris Bank team. This merger gives us the opportunity to expand our range of services, while continuing to provide exceptional customer service,” said LaHaise in a statement Monday.
The merger was announced in early March, the latest in a consolidation trend among community banks looking to expand their reach. Coastal Bankshares, Coastal’s parent company, agreed to the acquisition by Ameris Bancorp in an all-stock deal worth $36.7 million.
LaHaise said little will change functionally beside signage, which will be swapped out this week at its six locations.
Carroll said it will continue to operate all 10 branches locally — four Ameris, six Coastal — but would be looking at consolidation in the future.
“As we work over the next month to fully integrate Coastal Bank into Ameris Bank, we constantly remember how important all of our customers are and remain attentive to any concerns or questions they might have,” said Carroll. “All customers are encouraged to continue banking as customary.”
Until the conversion of systems, Coastal customers are encouraged to continue banking only at former Coastal Bank locations and Ameris Bank customers at Ameris locations.
Once the conversion is complete, customers will have access to 75 branches in four states, including Georgia, Alabama, Florida and South Carolina.
Ameris Bank is headquartered in Moultrie and holds approximately $4 billion in assets. The parent company is listed on NASDAQ under symbol ABCB.