A south Georgia bank has received federal approval to buy a bank in Florida.
Ameris Bancorp in Moultrie — about 125 miles southeast of Columbus — received permission from the Federal Reserve Friday to acquire The Prosperity Banking Co. in St. Augustine, Fla.
Once the acquisition is complete, Prosperity Bank would be combined into Ameris Bank. On its own, Ameris has assets of $2.8 billion and $2.4 billion in deposits. It operates in Georgia, Florida, Alabama and South Carolina.
The combined bank would be the 215th-largest in the country, with $3.6 billion in assets and $2.9 billion in deposits.
Over the past several years, most bank consolidation has come from institutions that have acquired failed banks, with assistance from the Federal Deposit Insurance Corp. More consolidation is expected in the industry, particularly from community banks.
