Ameris Bancorp (NASDAQ:ABCB) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
| Entry into a Material Definitive Agreement. |
On December 28, 2016, Ameris Bancorp (the Company) entered into a
Limited Waiver and Second Amendment to Loan Agreement (the Second
Amendment) with NexBank SSB (the Lender) providing for the
amendment of that certain Loan Agreement dated as of August 28,
2013 between the Company and the Lender, as amended September 26,
2014 by that certain First Amendment to Loan Agreement between
the Company and the Lender, to (i) increase the maximum aggregate
principal amount of revolving loans that may be outstanding
thereunder at any one time to $60,000,000, (ii) reduce the total
risk-based capital ratio (which is the ratio (expressed as a
percentage) as of the last day of any fiscal quarter of (a) tier
1 capital plus tier 2 capital to (b) total risk-weighted assets)
required of Ameris Bank and (iii) waive the failure of Ameris
Bank to satisfy the prior risk-based capital ratio requirement
for the previously completed quarters in 2016. In connection with
entering into the Second Amendment, the Company issued to the
Lender a Second Amended and Restated Revolving Promissory Note
dated as of December 28, 2016 (the A/R Note).
The descriptions contained herein of the Second Amendment and the
A/R Note are qualified in their entirety by reference to the
terms of such documents, each of which is attached hereto as an
exhibit and incorporated herein by this reference.
| Item 2.03 |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information provided under Item 1.01 Entry into a Material
Definitive Agreement is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| 10.1 |
Limited Waiver and Second Amendment to Loan Agreement dated as of December 28, 2016 by and between Ameris Bancorp and NexBank SSB. |
| 10.2 |
Second Amended and Restated Revolving Promissory Note dated as of December 28, 2016 issued by Ameris Bancorp to NexBank SSB. |
About Ameris Bancorp (NASDAQ:ABCB)
Ameris Bancorp is a financial holding company. The Company’s business is conducted through its banking subsidiary, Ameris Bank (the Bank), which provides a range of banking services to its retail and commercial customers. The Company operates through four segments: the Banking Division, the Retail Mortgage Division, the Warehouse Lending Division and the SBA Division. The Banking Division is engaged in the delivery of financial services, which include commercial loans, consumer loans and deposit accounts. The Retail Mortgage Division is engaged in the origination, sales and servicing of one- to four-family residential mortgage loans. The Warehouse Lending Division is engaged in the origination and servicing of warehouse lines to other businesses that are secured by underlying one- to four-family residential mortgage loans. The SBA Division is engaged in the origination, sales and servicing of small business administration (SBA) loans. Ameris Bancorp (NASDAQ:ABCB) Recent Trading Information
Ameris Bancorp (NASDAQ:ABCB) closed its last trading session down -0.10 at 44.45 with – shares trading hands.