June 13, 2018 / 9:16 PM / 6 months ago

Fed approves Ameris Bancorp-Hamilton State Bancshares merger

FILE PHOTO: The Federal Reserve building in Washington September 1, 2015. REUTERS/Kevin Lamarque

WASHINGTON (Reuters) - The U.S. Federal Reserve said on Wednesday it had approved a merger between Georgia’s Ameris Bancorp and Hamilton State Bancshares, in a further sign of growing bank consolidation in the country.

Ameris, which has consolidated assets of about $7.9 billion, will take over Hamilton, with $1.8 billion in assets. The combined group will be a top 200 bank by assets.

Reporting by Michelle Price; Editing by Richard Chang

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