The Coastal Bank, based in Savannah, is merging with Ameris Bancorp. That’s the parent company of Ameris Bank. In a news release, the company says it will become largest community bank on the Georgia coast after the merger is complete.
A large Savannah-area bank has come out from under heightened scrutiny by federal banking regulators. The Coastal Bank's emergence from a federal consent order highlights a broader recovery in the state's banking industry. The number of late loan payments in Georgia has gone down by half since last year.