ABCB - Ameris Bancorp scoops up Balboa Capital; sees accretion

Balboa Capital Corporation provides business lending solutions to small and mid-sized businesses nationwide. The commercial terms were not disclosed. The all-cash deal results in manageable tangible book value dilution with a four-year earn-back period and enhances Ameris's (NASDAQ:ABCB) efficiency ratio profile. The addition also diversifies Ameris Bank's portfolio of nationwide lending platforms. Ameris Bank expects significant earnings accretion from the core operating strategy of Balboa Capital with upside potential from identified operating synergies.

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Ameris Bancorp scoops up Balboa Capital; sees accretion