The following excerpt is from the company's SEC filing.
On February 18, 2014, Ameris Bancorp (the Company)
received the approval of the Board of Governors of the Federal Reserve System to redeem the 28,000 shares of the Companys Fixed Rate Cumulative Perpetual Preferred Stock, Series A, that remain outstanding. The shares have a liquidation
preference of $1,000 per share, with dividends currently accruing on such amount at 9% per annum. The shares were originally issued to the U.S. Treasury in November 2008 pursuant to the Troubled Asset Relief Program and were sold by the
Treasury to other investors in June 2012 through a registered public offering. The Company inte
nds to effect the redemption of the shares during the first quarter of 2014 in order to minimize the additional dividends payable with respect to the
shares prior to their redemption.
the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here.
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