ATLANTA, December 13, 2021 / PRNewswire / – Ameris Bancorp (Nasdaq: ABCB) today announced that its banking subsidiary, Ameris Bank, acquired Balboa Capital Corporation, a nationwide online provider of small and medium-sized business lending solutions.

Ameris Bancorp logo. (PRNewsFoto / Ameris Bancorp)

Acquisition of Balboa Capital and its technology accelerates Ameris Bank small business lending and C&I initiatives and is expanding its presence in the rapidly growing point-of-sale financing market. The addition of Balboa Capital also diversifies Ameris Bank already strong portfolio of national lending platforms, which includes its premium finance, mortgage banking and warehouse lending businesses.

“Balboa Capital has helped tens of thousands of businesses access growth capital with instant credit decisions and same day financing,” said H. Palmer Proctor Jr., CEO of Ameris Bancorp. “We look forward to providing Balboa Capital’s lending technology and offering a new digital lending option to more of our business clients. Equally important, Balboa Capital brings more than 30 years of technological expertise to Ameris Bank directed by Patrick Byrne, its managing director, and Phil silva, president of the company. We are delighted that Pat, Phil and their team are joining our organization as we expand our online lending capabilities. “

Ameris Bank expects a significant increase in profits from Balboa Capital’s core operating strategy with upside potential from identified operating synergies. This all-cash transaction results in a manageable dilution of tangible book value with a payback period of four years and improves Ameris’ efficiency ratio profile.

Balboa Capital, which was founded in 1988 and will remain based in Costa Mesa, California, uses proprietary technology to provide innovative financing solutions to a diverse group of business customers nationwide. Balboa Capital’s creations should exceed $ 415 million during 2021.

“Balboa Capital’s highly flexible technology allows Ameris Bank to provide a streamlined online experience for business owners with diverse financing needs, ”noted James A. LaHaise, director of strategy for Ameris Bank. “Balboa Capital’s dynamic solution, coupled with its high-performance team, completes Ameris Bank financial strength and culture, enhancing our ability to help businesses gain financial peace of mind as they grow. “

“We look forward to expanding our lending capabilities with the resources of a larger institution. In addition, our team of industry veterans is eager to deliver new financial solutions to Ameris Bank customers ”, declared Patrick Byrne, CEO and Founder of Balboa Capital.

For more information, please visit Capital of Balboa and Ameris Bank.

Piper sandler & Co. and Covington & Burling LLP are financial and legal advisers to Ameris, respectively. Keefe, Bruyette & Woods, Inc. is acting as financial advisor and Moore & Van Allen PLLC as legal advisor to Balboa.

On Ameris Bank

Ameris Bancorp is a banking holding company headquartered in Atlanta, Georgia and the parent of Ameris Bank, a Georgia state chartered bank. Ameris Bank currently has 165 branches in Georgia, Alabama, Florida, North Carolina and Caroline from the south.

About Balboa Capital Corporation

Balboa Capital Corporation is a financial technology company based in Costa Mesa, California. Formed in 1988, Balboa provides financing solutions to small and medium-sized businesses in various industry sectors nationwide.

Forward-looking statement
This press release contains estimates, predictions, opinions, projections and other “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements on the impact of Ameris and Balboa expects the transaction to have an impact on the operations, financial condition and financial results of the combined entity. Forward-looking statements also include predictions or expectations of future business or financial performance as well as goals and objectives for future operations, financial and business trends, business prospects and management’s outlook or expectations with respect to profits, revenues. , expenses, capital levels, liquidity levels, quality of assets or other future financial or business performance, strategies or expectations. The words “believe”, “intend”, “expect”, “anticipate”, “strategy”, “plan”, “estimate”, “about”, “target”, “plan”, ” proposing “,” possible “,” potential “,” should “and similar expressions, among others, generally identify forward-looking statements. These forward-looking statements are based on various assumptions (many of which are beyond the control of Ameris and Balboa) and are subject to risks and uncertainties (which change over time) and other factors that could cause that actual results differ materially from those currently anticipated. These risks and uncertainties include, but are not limited to, the risk that the businesses of Ameris and Balboa will not be successfully integrated; the possibility that the cost savings and synergies or other benefits expected from the acquisition will not be fully realized or may take longer than expected to be realized; disruption due to the acquisition making it more difficult to maintain relationships with employees, customers or other parties with which Ameris or Balboa does business; legislative and regulatory changes; changes in the US government’s monetary and fiscal policy; the impact of the COVID-19 pandemic on the general economy, Ameris and Balboa customers and the allowance for loan losses; the benefits customers can derive from government assistance programs and regulatory measures related to the COVID-19 pandemic; and other factors, many of which are beyond Ameris and Balboa’s control.

We refer you to the “Risk Factors” and “Management’s Discussion and Analysis of the Financial Condition and Results of Operations” sections of the Ameris Bancorp Annual Report on Form 10-K for the year ended. December 31, 2020, and any updates to those risk factors set out in Ameris Bancorp’s reports on Form 10-Q, current reports on Form 8-K and other documents, which have been filed with the Securities and Exchange Commission (the “SEC”) and are available on the SEC’s website at All forward-looking statements, express or implied, included herein are expressly qualified in their entirety by the cautionary statements contained or referred to herein. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date on which they were made.



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