Ameris also entered the insurance-premium finance business — where customers borrow to cover the cost of insurance premiums — by buying a minority stake in U.S. Premium Finance. Ameris is hoping to buy the company outright once it resolves a regulatory order.
On the other hand, Independent Bank in Grand Rapids, Mich., is getting out of premium finance after 14 years in the business. The company, which is selling its finance unit to a nonbank, said that it wants to focus on its core banking operations.