Ameris Bancorp to redeem $28 million TARP preferreds in first quarter

By Susanna Moon

Chicago, Feb. 21 - Ameris Bancorp plans to redeem the 28,000 shares of its fixed-rate cumulative preferred stock, series A, in the first quarter, according to an 8-K filing with the Securities and Exchange Commission.

The liquidation preference is $1,000 per share, with dividends currently accruing at 9% per year.

The shares were originally issued to the Treasury in November 2008 under the Troubled Asset Relief Program and were sold by the Treasury to other investors in June 2012 through a registered public offering.

The company said it received approval from the Federal Reserve to redeem the preferreds.

Ameris is a bank based in Moultrie, Ga.

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