Ameris Bank Donates Record $2.23 million to Support 40 Rural Georgia Hospitals

Rhea-AI Summary

Ameris Bank announced a $2.23 million donation to 40 rural hospitals in Georgia through the Georgia HEART Hospital Program for 2024. This initiative, part of their ongoing participation since 2018, has cumulatively surpassed $12 million in contributions. CEO Palmer Proctor emphasized the importance of supporting rural healthcare, allowing hospitals to allocate funds as needed. Notably, many benefiting hospitals are outside Ameris' physical service areas, showcasing the bank's statewide commitment. With over $4 million donated in 2023 and 2024 combined, the bank's involvement in the Georgia Rural Hospital Tax Credit program continues to grow.

Positive

• Ameris Bank donated a record $2.23 million to rural hospitals in Georgia in 2024.
• Total contributions by Ameris Bank to the Georgia HEART Hospital Program exceed $12 million since 2018.
• The 2023 and 2024 donations combined surpass $4 million, indicating increasing support.
• Many recipient hospitals are outside Ameris' physical service areas, demonstrating a broad commitment to state healthcare.

Negative

• The PR does not provide specific financial performance metrics for Ameris Bank.
• No information is given on how these donations impact Ameris Bank's financials or potential tax benefits.
• The announcement may not directly affect stock performance without corresponding financial data or projections.

ATLANTA, June 12, 2024 /PRNewswire/ -- Ameris Bank is donating $2.23 million to 40 rural hospitals in Georgia, as part of the Georgia HEART Hospital Program in 2024. Ameris has been participating in the state income tax credit program since 2018, contributing more than $12 million.

"Ameris is proud to support our rural hospitals and the communities they serve," said Ameris Bank CEO Palmer Proctor. "The Georgia HEART Hospital Program is important because it not only provides much needed funding to these crucial hospitals, but also allows them to choose how the money is best spent to care for their patients."

Of the 40 hospitals receiving funding, the majority serve communities where Ameris does not have a physical presence, highlighting the bank's commitment to improving healthcare throughout the state. Both 2023 and 2024 have been record-setting years for Georgia HEART donations from Ameris, totaling more than $4 million.

The Georgia Rural Hospital Tax Credit enables Georgia businesses and taxpayers to redirect their Georgia income tax liability to support qualified hospitals. Participation in the Georgia HEART Hospital Program is limited to Georgia rural hospitals that meet qualification criteria established by law.

About Ameris Bank
Ameris Bank, a subsidiary of Ameris Bancorp (Nasdaq: ABCB), is a state-chartered bank headquartered in Atlanta, Georgia. Ameris operates 164 financial centers across the Southeast and serves consumer and business customers nationwide through select lending channels. Ameris manages $25.7 billion in assets as of March 31, 2024, and provides a full range of traditional banking and lending products, treasury and cash management, insurance premium financing, and mortgage and refinancing services. Learn more about Ameris at www.amerisbank.com.

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SOURCE Ameris Bank

FAQ

How much did Ameris Bank donate to rural hospitals in Georgia in 2024?

Ameris Bank donated a record $2.23 million to 40 rural hospitals in Georgia in 2024.

What is the cumulative contribution of Ameris Bank to the Georgia HEART Hospital Program?

Ameris Bank has contributed more than $12 million to the Georgia HEART Hospital Program since 2018.

Which program enables Ameris Bank to donate to rural hospitals in Georgia?

Ameris Bank donates through the Georgia HEART Hospital Program, part of the Georgia Rural Hospital Tax Credit.

How much did Ameris Bank donate in 2023 and 2024 combined?

Ameris Bank donated over $4 million to rural hospitals in Georgia in 2023 and 2024 combined.

Are the recipient hospitals of Ameris Bank's donation located in areas where the bank operates?

Many of the recipient hospitals are in communities where Ameris Bank does not have a physical presence.