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Ameris Bancorp to buy The Coastal Bank
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MOULTRIE -- Ameris Bancorp, the parent company of Ameris Bank, Tuesday announced the acquisition of The Coastal Bank (Coastal Bankshares, Inc), scheduled to close in the third quarter of 2014. Once this merger is finalized, Ameris Bank will be the largest community bank on the Georgia coast.

Edwin W. Hortman Jr., Ameris Bank chief executive officer said, “We are excited to announce this merger with The Coastal Bank in Savannah, Ga.. This merger is a great opportunity for our company, paving the way for a more promising future for our customers, employees and company. Ameris Bank, like The Coastal Bank, is a community bank rich in history, with strong values, a passion for excellent customer service, and a belief in the power of our community. As we move forward with regulatory approvals and then system conversions, we constantly remember how important our customers are and remain attentive to any concerns or questions they might have.”

Once the legal merger is completed, Coastal Bank customers will have access to over 25 additional banking locations along the Georgia, South Carolina and northern Florida coast, in addition to the other numerous banking locations throughout Ameris Bank’s four-state footprint. Within the coming months, customers of The Coastal Bank will receive additional information from Ameris Bank regarding this acquisition.

James A. LaHaise, president and chief executive officer of The Coastal Bank, said, “The Coastal Bank is pleased to partner with Ameris Bank. This partnership is a great opportunity for our customers and our communities, as Ameris Bank is a strong community bank and one of the leading community banks in the Southeast.”

Ameris Bank is headquartered in Moultrie and has more than 68 branch offices in Georgia, Alabama, Florida and South Carolina. The parent company, Ameris Bancorp is listed on NASDAQ under the symbol ABCB. For more information about Ameris Bank, go to  amerisbank.com.

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GPA grows trade, market share
Intermodal volume up 20 percent
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Rubber tired gantry cranes handle cargo at the Chatham Intermodal Container Transfer Facility at the Port of Savannah. The Georgia Ports Authority's Mason Mega Rail project will double rail lift capacity to 1 million containers per year by 2020 - photo by Provided

The Georgia Ports Authority achieved 14 percent growth in March container volumes, moving 355,208 20-foot equivalent unit (TEU) containers.

From July 2017 to March, TEU container trade grew by 9 percent, or 255,786 additional units for a total of 3.08 million, a new record for Savannah.

"Savannah's continued strength is a reflection of our customers' commitment, Georgia's leadership, and the many dedicated service providers, GPA employees and ILA members who come together every day to achieve great things," said GPA Executive Director Griff Lynch. "March marked our 17th consecutive month of business expansion thanks, in part, to a strong economy and growing market share."

Intermodal rail volumes jumped by 20 percent in March and 15.4 percent for the fiscal year to date, for a total of 318,454 containers handled over nine months – another record for the GPA.

"As the numbers show, our rail cargo is growing at a faster pace than our overall trade," GPA Chairman Jimmy Allgood said. "This is important because rail is playing a key role in our responsible growth strategy. We anticipate our rail infrastructure investments to take 250,000 trucks off the road each year by 2020."

The GPA recently broke ground on its Mason Mega Rail Terminal, on which the Port of Savannah will build 10,000-foot unit trains within its own footprint. From the expanded rail infrastructure at Garden City Terminal, Class I rail providers CSX and Norfolk Southern will provide direct rail service to major Southeast and Midwestern markets from Memphis to St. Louis, Chicago to Cincinnati.

An added benefit is that the Mason Mega Rail project will move all rail switching on terminal – improving vehicle traffic flow around the port.

In August, the GPA will open its Appalachian Regional Port in Murray County. Located in an industrial belt, including the production and export of carpet and flooring, automobiles and tires, the ARP will provide an alternative to all-truck transit to Northwest Georgia.

Each round-trip container moved via the Appalachian Regional Port will offset 710 truck miles on Georgia highways.

March was also a strong month for roll-on/roll-off auto and machinery units at the Port of Brunswick and Ocean Terminal in Savannah. Colonel's Island Terminal in Brunswick handled 66,144 cars, trucks and tractors, while Ocean Terminal added 4,050, for a total 70,194, a 17.2 percent increase.

"The global economy is thriving and our volumes are following suit," Lynch said. "As existing accounts grow their footprint in the expanding auto facility in Brunswick, Georgia's competitive logistical advantages are drawing additional business across all of our docks."

Lynch noted that for the fiscal year to date, Mayor's Point breakbulk terminal in Brunswick grew by 44 percent (34,515 tons) to reach 112,728 tons of forest products. At East River Terminal, bulk cargo expanded by 34 percent July-March (189,918 tons) for a total of 750,384 tons.

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