Ameris Bancorp (ABCB) in Moultrie, Ga., has repurchased all the shares it issued under the Troubled Asset Relief Program.
The $3.7 billion-asset company said in a press release Tuesday that it had redeemed $28 million in preferred stock from private investors. Ameris issued $52 million in stock to the Treasury Department in November 2008. The Treasury auctioned the shares to investors in June 2012.
Ameris funded the redemption with capital from its Ameris Bank.
Ameris agreed in early March to buy Coastal Bankshares in Savannah, Ga.