Ameris Bancorp (Nasdaq: ABCB), the parent holding company of Ameris Bank, announced today that it has priced the underwritten public offering of $110 million aggregate principal amount of its 3.875% Fixed-to-Floating Rate Subordinated Notes due 2030. The Notes will initially bear a fixed interest rate of 3.875% per year. Commencing on October 1, 2025, the interest rate on the Notes will be a floating per annum rate equal to the Benchmark rate (which is expected to be Three-Month Term SOFR) (each as defined in the Notes) plus 375.3 basis points, payable quarterly in arrears. The offering is expected to fund on September 28, 2020, subject to the satisfaction of customary closing conditions.

Ameris Bancorp expects to use the net proceeds of this offering for general corporate purposes.

Keefe, Bruyette & Woods, A Stifel Company, and Piper Sandler & Co. are joint book-running managers for the offering.

About Ameris Bancorp

Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. Ameris Bancorp's banking subsidiary, Ameris Bank, has 170 locations in Georgia, Alabama, Florida and South Carolina.

Ameris Bancorp's common stock trades on the Nasdaq Global Select Market under the symbol "ABCB."