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100 Fed. Res. Bull. 1 (2014)

handle is hein.journals/fedred100 and id is 1 raw text is: Legal Developments: Fourth Quarter, 2013 Orders Issued Under Bank Holding Company Act Orders Issued Under Section 3 of the Bank Holding Company Act Ameris Bancorp Moultrie, Georgia Order Approving the Acquisition of a Bank Holding Company FRB Order No. 2013-12 (December 6, 2013) Ameris Bancorp (Ameris), Moultrie, Georgia, has requested the Board's approval under section 3 of the Bank Holding Company Act (BHC Act)' to acquire The Prosperity Banking Company (Prosperity) and thereby indirectly acquire its subsidiary bank, Pros- perity Bank (Prosperity Bank), both of St. Augustine, Florida. Immediately following the proposed acquisition, Prosperity Bank would be merged into Ameris's subsidiary bank, Ameris Bank, Moultrie, a state nonmember bank. Notice of the proposal, affording interested persons an opportunity to submit comments, has been published in the Federal Register (78 Federal Register 35033 (2013)).3 The time for submitting comments has expired, and the Board has considered the proposal and all com- ments received in light of the factors set forth in section 3 of the BHC Act. Ameris, with consolidated assets of approximately $2.8 billion, is the 26 1st largest insured depository organization in the United States, controlling approximately $2.4 billion in con- solidated deposits.4 Ameris Bank operates in Alabama, Florida, Georgia, and South Caro- lina. Ameris Bank is the 14th largest depository institution in Georgia, controlling deposits of approximately $1.6 billion, and is the 88th largest depository institution in Florida with approximately $373.3 million in deposits, which represent less than 1 percent of the total deposits of insured depository institutions in each of these states.5 In addition, Ameris Bank is the 36th largest depository institution in South Carolina with approximately $304.8 million in deposits, and the 60th largest in Alabama with approximately $186.4 mil- lion in deposits, which represent less than 1 percent of the total deposits of insured depository institutions in each of those states. ' 12 U.S.C. § 1842. 2 The merger of Prosperity Bank into Ameris Bank is subject to the approval of the Federal Deposit Insurance Corporation (FDIC) under the Bank Merger Act. 12 U.S.C. § 1828(c). The FDIC approved the bank merger on November 6, 2013 (Letter from Jeffrey L. Povlak, Assistant Regional Director of FDIC Atlanta Regional Office, to Jody L. Spencer, Rogers & Hardin LLP (Nov. 6, 2013)). 12 CFR 262.3(b). 4 Asset and nationwide deposit-ranking data are as of June 30, 2013, unless otherwise noted. State deposit data are as of June 30, 2013. In this context, insured depository institutions include commercial banks, savings associations, and savings banks.

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