Alston & Bird client Hamilton State Bancshares, Inc., parent company of Hamilton State Bank, has entered into a definitive agreement to merge with Ameris Bancorp in a cash and stock deal presently valued at $405.7 million.
Hamilton is one of the largest independent community banks in the Atlanta metropolitan statistical area (MSA), with $1.8 billion in assets and 24 branches. Upon completion of the transaction, the combined company will have $11.3 billion of total assets and roughly $1.4 billion in deposits in the Atlanta MSA, making it the 13th largest bank in the Atlanta market.
The merger is expected to close in the third quarter of 2018, after receipt of regulatory approvals, approval of Hamilton’s shareholders, and satisfaction of customary closing conditions.
Advising Hamilton is an Alston & Bird team led by partner Chris Frieden, co-leader of the firm’s Financial Services & Products Group, and partner Patrick Hanchey and senior associate Ian Calhoun.