Georgia Department of Banking and Finance Takes Possession of Crescent Bank and Trust Company, Jasper, Georgia

The Georgia Department of Banking and Finance (“Department”) took possession of Crescent Bank and Trust Company, Jasper, Georgia on July 23, 2010. The Superior Court of Pickens County issued an Order appointing the Federal Deposit Insurance Corporation (“FDIC”) as Receiver of the Bank effective upon the Department taking possession of Crescent Bank and Trust Company.

The Department took possession of Crescent Bank and Trust Company pursuant to the Official Code of Georgia, Section 7-1-150(a) which authorizes the Department in its discretion to take possession of the business and property of any state chartered financial institution whenever such financial institution is either insolvent or operating in an unsafe or unsound condition to transact its business, is operating in violation of any court order, statute, rule or regulation, or requests the Department to take possession of its business and property.

Through an agreement with the FDIC, Crescent Bank and Trust Company will be acquired by Renasant Bank, Tupelo, Mississippi.

All deposit accounts of Crescent Bank and Trust Company have been transferred to Renasant Bank and will be available immediately. Depositors will be able to access their accounts at the former main office and branch locations of Crescent Bank and Trust Company during regular business hours. Additionally, the former depositors of Crescent Bank and Trust Company can continue to access their accounts through automated teller machine transactions, checks and debit transactions.

All deposits will be transferred to Renasant Bank and, therefore, it is not anticipated that there will be any loss exposure to former Crescent Bank and Trust Company depositors that have deposits exceeding the FDIC Deposit Insurance amounts.

The Department’s Commissioner, Robert M. Braswell, reminds depositors that deposits of all Georgia banks are insured by the FDIC up to $250,000. Special rules are in place for accounts held in trust status and joint accounts that may further expand deposit insurance coverage. You can find additional information on FDIC Deposit Insurance at www.fdic.gov.

The FDIC has established a website and a toll-free phone number to answer questions from depositors, creditors and other interested parties regarding the receivership of Crescent Bank and Trust Company. Please refer to the FDIC’s website for further information regarding the details of the purchase and assumption transaction. The website is www.fdic.gov and the toll-free phone number is 1-800-523-8177. The phone number is operational this evening until 9 p.m. Eastern Standard Time, on Saturday from 9 a.m. until 6 p.m. on Sunday from noon to 6 p.m. and thereafter from 8 a.m. to 8 p.m.

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Online Auction of Furniture, Fixtures and Equipment from a Failed Georgia Bank

/PRNewswire/ -- Penny Worley Auctioneers (www.worleyauctioneers.com) announces the online auction of furniture, fixtures and equipment from a failed bank in Alpharetta, Ga., according to Jerry Jenkins.

"All items will sell to the highest bidders," Jenkins said. "We have computers, very nice solid wood executive office furniture, office equipment, storage and shelving, and much more."

Items in this online bank auction include: computers, solid wood executive office furniture, leather chairs by Paoli, Herman Miller office chairs, IT equipment, copier/printers, solid wood home furnishings like Jessica McClintock Home, office equipment, framed art, storage and shelving, workstations, flat panel televisions, Nortel phone systems, kitchen appliances, as well as bank equipment like check scanners, coin counters, currency counters, fireproof file cabinets, encoders, validators, safes, and more.

The online auction is open to the public. Bidding closes February 19. Bidders must register prior to bidding. For more information, visit www.WorleyAuctioneers.com, or call Jerry Jenkins at (513) 313-9178.

Penny Worley Auctioneers conducts auctions throughout the United States. The company is a member of the National Auctioneers Association, the Ohio Auctioneers Association and the Certified Appraisers Guild of America, National Association of Realtors & Ohio Association of Realtors and Members of the Cincinnati and Dayton Home Builders Association.

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SunTrust Web Site Helps Business Owners Get Through the Day

PRNewswire-FirstCall/ -- SunTrust Banks, Inc. (NYSE: STI) today announced the launch of Business Solutions Central (www.bizsolutionscentral.com), an informational and educational resource designed to complement SunTrust's offerings and long-standing commitment to businesses. The site gives owners of small and medium sized businesses solid advice, education and solutions to achieve success on their own terms, and when it's most convenient for them.

"SunTrust understands that while business owners are often forced to juggle many roles within their daily responsibilities, their core focus is to make their businesses profitable and achieve success," said Gay Abbott, executive vice president, head of SunTrust's Commercial line of business. "Business Solutions Central was developed with businesses in mind. The site provides resources and solutions to help owners better manage time and cash flow while optimizing business efficiencies."

Abbott also said that clients and business owners are wanting to bank with a strong financial institution where their money is safe and one that provides support for everyday business challenges. By speaking with thousands of business owners, SunTrust learned that on any given day, business owners and those managing the finances of those businesses are faced with one or more of the following challenges: leveraging time; stretching money; protecting their businesses; maximizing profits; and managing growth. SunTrust has methodically extended its business solutions offerings to address this by not only providing products and services, but also providing ongoing education and actionable steps to help business owners be successful and profitable.

Business Solutions Central is an educational resource for all businesses providing tips, tools, best practices reports, case studies and expert advice. The site differs from other Web-based business resources by:

-- Offering original research and advice through SunTrust's best practice reports and faculty members. Faculty members are a combination of SunTrust advisors and independent, third parties with proven business expertise across a variety of subject matters;

-- Providing information in a variety of easily-accessible formats, including a monthly podcast series featuring business owners who have learned how to deal with the every day challenge of owning a business; The second "A Day in the Life of ... " podcast is available today on the Web site;

-- Addressing the challenges often faced in operating a business and providing practical suggestions to overcome these challenges in the Business Owner's Playbook; and

-- Allowing business owners to learn more about SunTrust sponsored education events, workshops and seminars, such as the Business over Breakfast series, which offer opportunities for SunTrust and business owners to share business challenges, best practices and business successes.

In addition to launching Business Solutions Central, SunTrust has also recently begun a tour of the greater Atlanta area with it its mobile educational vehicle, Business on the Go. Business on the Go is touring Atlanta, and soon will be touring Charlotte to provide business owners with a unique, hands-on opportunity to learn more about the ways they can address their operational efficiency challenges.

SunTrust also offers services specifically targeted to addressing business needs. The following are some of the tools that allow business owners to focus on building and growing their business rather than the day-to-day financial and operational concerns such as running to the bank for deposits, dealing with fraudulent activity and payroll:

-- Online Cash Manager with Fraud Inspector(SM) offers businesses online banking solutions designed to meet their needs - from basic banking to advanced cash management. With Fraud Inspector business owners can review the previous business day's transactions that have cleared their SunTrust deposit accounts and direct the return of suspected fraudulent items. SunTrust is the first of the top 10 banks to offer an innovative anti-fraud feature to small business owners. Online Cash Manager with Fraud Inspector earned the 2008 Barlow Monarch Innovation Award for most innovative feature.

-- Online Check Deposit helps businesses save time and money and better manage cash flow using a certified scanner to capture check images and submit deposits electronically to SunTrust from their office with same-day credits as late as 8:30 p.m. ET. This solution allows businesses to make deposits later in the day and reduce trips to the bank for routine transactions such as depositing checks.

-- Online Payroll provides clients the ability to manage payroll information easily and pay employees by check or direct deposit in three easy clicks. SunTrust Online Payroll also calculates, files and pays all federal, state and local payroll taxes-guaranteed.

Visit www.bizsolutionscentral.com to learn how SunTrust can help businesses build a solid foundation for success.

SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of September 30, 2008, SunTrust had total assets of $174.8 billion and total deposits of $115.9 billion. The Company operates an extensive branch and ATM network throughout the high- growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, equipment leasing and capital markets services. SunTrust's Internet address is suntrust.com .

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Ameris Bancorp Reports Net Income of $3.1 Million for Second Quarter of 2008

PRNewswire-FirstCall -- AMERIS BANCORP (NASDAQ:ABCB) , reported net income of $3.1 million, or $0.23 per share, for the quarter ended June 30, 2008, compared to net income for the same quarter in 2007 of $5.4 million, or $0.39 per share. Net income for the year-to-date period totaled $6.1 million, or $0.45 per share, compared to $10.4 million, or $0.76 per share for the same period in 2007. Continued weakness in general economic conditions in several of the Company's markets led to higher levels of loan provisions and negatively impacted the results for both the quarter and year-to-date period. Commenting on the quarter's results, Edwin W. Hortman, Jr. said, "Given the current operating environment, I am encouraged by our Company's performance. During the most recent quarter, we dealt quickly and aggressively with credit quality issues and recorded provisions at levels that should not persist. We continue to experience dilution from the investment in our De Novo strategy and expect profitability to improve significantly as we move forward. Lastly, despite four quarters in this difficult environment, Ameris Bank has protected its capital base and remains well capitalized with approximately $30 million of excess capital."

The Company's provision for loan losses during the second quarter amounted to $3.7 million, an increase of $2.8 million over the $936,000 recorded in the second quarter of 2007. Similarly, provision for loan losses for the year-to-date period increased $5.5 million to $6.9
million for the first six months of 2008 compared to 2007. The high levels of provision for loan losses reflect the Company's efforts to quickly address problem credits and are the result of very weak real estate conditions in a few of the Company's markets. As in previous quarters, the majority of the deterioration in credit quality is concentrated in a small number of larger credits. The Company continues to benefit from a loan portfolio that is well diversified over four states and various loan categories.

Non-performing assets increased slightly during the current quarter to 2.08% of total loans, compared to 2.00% for the first quarter of 2008, and 1.57% at December 31, 2007. Net charge-offs on loans during the second quarter of 2008 were similar to levels experienced during the first quarter of 2008 at 0.75% of total loans. The Company's reserve for loan losses at June 30, 2008 was flat compared to December 31, 2007, at 1.71% of total loans.

Trends in Net Interest Margin

In spite of drastically lower short-term rates and intense competition for core deposits, the Company's net interest margin declined only slightly during the second quarter of 2008 to 3.98%, compared to 4.03% in the same quarter in 2007. For the six-month period ending June 30, 2008, the Company's net interest margin was 3.95%, compared to 4.08% in the same period in 2007.

Loan yields during the quarter decreased to 6.97%, compared to 8.46% in the same quarter in 2007. In the most recent quarter, loan yields decreased from the 7.56% reported in the first quarter of 2008. This decline in the most recent quarter was partially attributed to accelerated renegotiation of interest rates in the Company's fixed rate loan portfolio as customers have opportunities to significantly reduce expenses or accelerate repayment of principal.

The Company's cost of funds during the current quarter was 2.72%, compared to 3.84% in the same quarter in 2007, and 3.30% in the first quarter of 2008. During the quarter, deposit costs declined to 2.78% from 3.68% in the same quarter in 2007 and from 3.25% in the first quarter of 2008. The decline against the linked quarter resulted from continued repricing of all deposit accounts but the majority of the savings resulted from material savings on time deposit maturities. Non-deposit borrowing costs also declined in the second quarter of 2008 to 2.10% from 5.81% in the second quarter of 2007 due to the Company's restructure of these borrowings and the use of interest rate floors on several of the advances. Efforts continue to reduce interest expense and are focused primarily on time deposit maturities and improving the Company's overall funding mix.

Operating Income and Operating Expense Trends

For the year-to-date period ending June 30, 2008, net interest income increased 1.6% to $37.5 million, when compared to net interest income for the year-to-date period ending June 30, 2007. Non-interest income increased 17.4% to $5.3 million during the second quarter of 2008, when compared to the same quarter in 2007. Continued growth in service charges and mortgage fees led to the increase in non-interest income. Service charges on deposit accounts increased 19.3% to $3.7 million in the current quarter, when compared to the second quarter of 2007. Income from mortgage loan activities also increased primarily as a result of hiring and training efforts during the last half of 2007. Mortgage income rose to $855,000, an increase of 6.9% over the second quarter of 2007. The Company's mortgage lending activities do not subject the Company to appreciably higher levels of risk, as all loans are closed with guaranteed takeouts and are underwritten by the purchaser.

Operating expense increased during the quarter by 16.6% to $16.0 million, when compared to the same quarter in 2007. Year to date, operating expenses increased to $31.6 million, an increase of 11.9% when compared to the same period in 2007. As stated in past quarters, increases in salaries and benefits as well as in occupancy and equipment are largely the result of the Company's expansion efforts. While meaningful accretion to profitability levels and earnings per share are not expected for the next several quarters, the Company does not foresee additional dilution to current profitability and earnings levels.

Ameris Bancorp is headquartered in Moultrie, Georgia, and at the end of the most recent quarter, had 48 locations in Georgia, Alabama, northern Florida and South Carolina.
Ameris Bancorp Common Stock is quoted on the NASDAQ Global Select Market under the symbol "ABCB".

The preceding release contains statements that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "believe", "estimate", "expect", "intend", "anticipate" and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates which they were made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors. Readers are cautioned not to place undue reliance on these forward-looking statements.

Synovus Plans to Combine National Bank of Walton County with AFB&T

BUSINESS WIRE--Synovus (NYSE: SNV), the Columbus, Georgia-based financial services company, today announced plans to combine the assets of two Synovus banks: National Bank of Walton County (NBWC), based in Monroe, Georgia with Athens First Bank and Trust (AFB&T), headquartered in Athens, Georgia. Synovus expects to complete the transfer of assets later this year, pending regulatory approval. The combined assets will be managed under the name of AFB&T.

“Since these two banks operate in the same geographic area, sometimes overlapping in their service to customers, it is a natural fit to combine their resources under one name,” said Fred L. Green III, President and COO of Synovus. “Bringing together the teams at each bank will leverage Synovus’ presence in this market and offer customers increased access to bank offices and continued use of the diversified products and services they enjoy today.”

J. William “Bill” Douglas will continue in his role as President and CEO of the expanded AFB&T. Benjamin E. “Ben” Garrett, current President and CEO of NBWC, will transition into an executive leadership role with AFB&T. Once the transfer of assets is complete, AFB&T will have a total asset size of $1.6 billion with 19 locations and 323 team members with a full range of products and services.

“Customers of NBWC will now be doing business with AFB&T but will still enjoy the same local relationships with the expert bankers they know and trust, plus access to more locations, capital and products,” Garrett said.