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Company News

Ameris Bancorp

06/12/2026 | Press release | Distributed by Public on 06/12/2026 15:21

Material Event (Form 8-K)

Item 8.01 Other Events.

On September 16, 2024, Patrick Byrne filed a complaint against Ameris Bank, the wholly owned banking subsidiary of Ameris Bancorp (together with Ameris Bank, the "Company" ), in the United States District Court for the Central District of California (the "Court"), captioned Patrick Byrne v. Ameris Bank, Case No. 8:24-cv-01989-MWC (JDEx) (the "Action"). The complaint alleged (as amended with leave of the Court during trial), among other things, wrongful termination of Mr. Byrne's employment, violations of whistleblower protection laws, nonpayment of wages and related penalties, and breach of contract, and sought unspecified damages. Mr. Byrne was employed by Ameris Bank from December 2021 through June 2024 as the chief executive officer of the equipment finance division of Ameris Bank.

A jury trial in the Action commenced on June 1, 2026. On June 12, 2026, the jury returned a verdict in favor of Mr. Byrne on all counts presented, finding Ameris Bank liable for $16.525 million in economic and non-economic damages, plus associated statutory penalties, and approximately $62.9 million in punitive damages. The Company disagrees with the verdict and believes that it is not supported by the facts or applicable law.

The Company intends to appeal the verdict. While the Company intends to continue to vigorously defend its position in this matter, the ultimate outcome of this matter is uncertain. The Company is evaluating the potential impact of the verdict, including whether an accrual is required for financial reporting purposes and the amount thereof. The final resolution of this matter could have a material adverse effect on the Company's results of operations, financial condition and liquidity.

Ameris Bancorp published this content on June 12, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on June 12, 2026 at 21:21 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]