ABC Bancorp Takes New Name
Action Unifies Subsidiaries Under One Banner
Edwin W. Hortman Jr., President and Chief Executive Officer, announced today ABC Bancorp (Nasdaq: ABCB - News) will unite its subsidiary banks under one common name. Effective December 1, 2005, the banks will operate under the name Ameris, while ABC Bancorp will change its name to Ameris Bancorp.
“Our new brand signifies a renewed commitment to our unique style of community banking - one that is grounded in personal relationships,” said Hortman. “Ameris is from the Latin word 'amicus' or friend. So, in a single word, we have captured the spirit of our style of community banking.”
In August, ABC Bancorp announced plans to consolidate the holding company's 12 subsidiary banks into a single charter. The charter consolidation and branding initiative indicate a change in strategy for the Company. These efforts allow ABC to reduce redundant practices and shift more existing employees into sales and customer contact roles. A single, highly recognizable brand creates a more effective platform for its unique style of community banking. Savings gained from the new strategy will enable the Company to accelerate expansion into growth markets, a move management sees as critical to continue delivering attractive growth in earnings.
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Source:
Yahoo Finance
