Exhibit 4.2


 


Ameris
Bancorp


 


FIRST SUPPLEMENTAL INDENTURE


dated as of March 13, 2017


 


to the Subordinated Debt Indenture


dated as of March 13, 2017


 


5.75% Fixed-to-Floating Rate Subordinated
Notes due 2027


 


Wilmington Trust, National Association, as
Trustee


 




     


     


    

  


FIRST SUPPLEMENTAL INDENTURE


 


THIS FIRST SUPPLEMENTAL INDENTURE (“First
Supplemental Indenture”), dated as of March 13, 2017 between Ameris Bancorp, a Georgia corporation (the “Company”),
and Wilmington Trust, National Association, a national banking association, not in its individual capacity but solely as trustee
(“Trustee”).


 


RECITALS


 


WHEREAS, the Company and the Trustee
have executed and delivered a Subordinated Debt Indenture, dated as of March 13, 2017 (the “Base Indenture” and as
supplemented by this First Supplemental Indenture and further supplemented from time to time, the “Indenture”), to
provide for the issuance from time to time by the Company of its unsecured subordinated indebtedness to be issued in one or more
series as provided in the Indenture;


 


WHEREAS, the issuance and sale of Seventy-Five
Million Dollars ($75,000,000) aggregate principal amount of a new series of Securities of the Company designated as its 5.75% Fixed-to-Floating
Rate Subordinated Notes due 2027 (the “Notes”) have been authorized by resolutions adopted by the Board of Directors
of the Company;


 


WHEREAS, the Company desires to issue
and sell Seventy-Five Million Dollars ($75,000,000) aggregate principal amount of the Notes as of the date hereof;


 


WHEREAS, the Company desires to establish
the terms of the Notes;


 


WHEREAS, all things necessary to make
this First Supplemental Indenture a legal and binding supplement to the Base Indenture in accordance with its terms and the terms
of the Base Indenture have been done;


 


WHEREAS, the Company has complied with
all conditions precedent provided for in the Base Indenture relating to this First Supplemental Indenture; and


 


WHEREAS, the Company has requested that
the Trustee execute and deliver this First Supplemental Indenture.


 


NOW, THEREFORE, for and in consideration
of the premises stated herein and the purchase of the Notes by the Holders thereof, the Company and the Trustee covenant and agree,
for the equal and proportionate benefit of the Holders of the Notes, as follows:


 


Article
I

SCOPE OF FIRST SUPPLEMENTAL INDENTURE


 


Section 1.01.         Scope.
This First Supplemental Indenture constitutes a supplement to the Base Indenture and an integral part of the Indenture and shall
be read together with the Base Indenture as though all the provisions thereof are contained in one instrument. Except as expressly
amended by the First Supplemental Indenture, the terms and provisions of the Base Indenture shall remain in full force and effect.
Notwithstanding the foregoing, this First Supplemental Indenture shall only apply to the Notes.


 




    	 	1	 



     


    

 


Article
II

DEFINITIONS


 


Section 2.01.         Definitions
and Other Provisions of General Application. For all purposes of this First Supplemental Indenture unless otherwise specified
herein:


 


(a)          all
terms used in this First Supplemental Indenture which are not otherwise defined herein shall have the meanings they are given in
the Base Indenture;


 


(b)          the
provisions of general application stated in Sections 10.1 through 10.17 of the Base Indenture shall apply to this First Supplemental
Indenture, except that the words “herein,” “hereof,” “hereto” and “hereunder”
and other words of similar import refer to this First Supplemental Indenture as a whole and not to the Base Indenture or any particular
Article, Section or other subdivision of the Base Indenture or this First Supplemental Indenture;


 


(c)          Section
1.1 of the Base Indenture is amended and supplemented, solely with respect to the Notes, by inserting the following additional
defined terms in their appropriate alphabetical positions:


 


“Calculation Agent” has the
meaning ascribed in Section 3.02(e)(iv).


 


“Designated LIBOR Page” means
the display on Bloomberg Page BBAM1 (or any successor or substitute page of such service, or any successor to such service selected
by the Company), for the purpose of displaying the London interbank rates for U.S. dollars.


 


“DTC” has the meaning provided
in Section 3.02(g).


 


“Federal Reserve” has the
meaning provided in the definition of “Tier 2 Capital Event.”


 


“Fixed Rate Interest Payment Date”
has the meaning provided in Section 3.02(e)(i).


 


“Fixed Rate Period” has the
meaning provided in Section 3.02(e)(i).


 


“Fixed Rate Regular Record Date”
has the meaning provided in Section 3.02(e)(i).


 


“Floating Rate Interest Payment Date”
has the meaning provided in Section 3.02(e)(ii).


 


“Floating Rate Period” has
the meaning provided in Section 3.02(e)(ii).


 


“Floating Rate Regular Record Date”
has the meaning provided in Section 3.02(e)(ii).


 


“Interest Payment Date” has
the meaning provided in Section 3.02(e)(ii).


 


“Issue Date” means March
13, 2017.


 


“London Banking Day” means
any day on which commercial banks are open for business (including dealing in U.S. dollars) in London.


 


“Representative Amount” has
the meaning provided in the definition of “Three-Month LIBOR.”


 


“Reset Rate Determination Date”
means the second London Banking Day immediately preceding the first day of each applicable interest period commencing on the first
Floating Rate Interest Payment Date.


 




    	 	2	 



     


    

 


“Tax Event” shall mean the
receipt by the Company of an opinion of independent tax counsel to the effect that as a result of (a) an amendment to, or change
(including any announced prospective change) in, the laws or any regulations thereunder of the United States or any political subdivision
or taxing authority thereof or therein, or (b) any official administrative pronouncement or judicial decision interpreting or applying
such laws or regulations, which amendment or change becomes effective or which pronouncement or decision is announced on or after
the date of original issuance of the Notes, there is more than an insubstantial risk that the interest payable by the Company on
the Notes is not, or within 90 days of the date of such opinion will not be, deductible by the Company, in whole or in part, for
United States federal income tax purposes.


 


“Tier 2 Capital Event” shall
mean the receipt by the Company of an opinion of independent bank regulatory counsel to the effect that, as a result of (a) any
amendment to, or change (including any announced prospective change) in, the laws or any regulations thereunder of the United States
or any rules, guidelines or policies of an applicable regulatory authority for the Company or (b) any official administrative pronouncement
or judicial decision interpreting or applying such laws or regulations, which amendment or change is effective or which pronouncement
or decision is announced on or after the date of original issuance of the Notes, the Notes do not constitute, or within 90 days
of the date of such opinion will not constitute, Tier 2 Capital (or its then equivalent if the Company were subject to such capital
requirement) for purposes of capital adequacy guidelines of the Board of Governors of the Federal Reserve System (the “Federal
Reserve”) (or any successor regulatory authority with jurisdiction over bank holding companies), as then in effect and applicable
to the Company that would preclude the Notes from being included as Tier 2 Capital.


 


“Three-Month LIBOR” means,
for any interest period, the offered rate for deposits in U.S. dollars having a maturity of three months that appears on the Designated
LIBOR Page as of 11:00 a.m., London time, on the Reset Rate Determination Date related to such interest period. If such rate does
not appear on such page at such time, then the Calculation Agent will request the principal London office of each of four major
reference banks in the London interbank market, selected by the Company for this purpose and whose names and contact information
will be provided by the Company to the Calculation Agent, to provide such bank’s offered quotation to prime banks in the
London interbank market for deposits in U.S. dollars with a term of three months as of 11:00 a m., London time, on such Reset Rate
Determination Date and in a principal amount equal to an amount for a single transaction in U.S. dollars in the relevant market
at the relevant time as determined by the Company and provided to the Calculation Agent (a “Representative Amount”).
If at least two such quotations are so provided, Three-Month LIBOR for the interest period related to such Reset Rate Determination
Date will be the arithmetic mean of such quotations. If fewer than two such quotations are provided, the Calculation Agent will
request each of three major banks in the City of New York selected by the Company for this purpose and whose names and contact
information will be provided by the Company to the Calculation Agent, to provide such bank’s rate for loans in U.S. dollars
to leading European banks with a term of three months as of approximately 11:00 a m., New York City time, on such Reset Rate Determination
Date and in a Representative Amount. If at least two such rates are so provided, Three-Month LIBOR for the interest period related
to such Reset Rate Determination Date will be the arithmetic mean of such quotations. If fewer than two such rates are so provided,
then Three-Month LIBOR for the interest period related to such Reset Rate Determination Date will be set to equal the Three-Month
LIBOR for the immediately preceding interest period or, in the case of the interest period commencing on the first Floating Rate
Interest Payment Date, 2.134%, resulting in a coupon rate of 5.75%. All percentages used in or resulting from any calculation of
Three-Month LIBOR will be rounded, if necessary, to the nearest one hundred-thousandth of a percentage point, with 0.000005% rounded
up to 0.00001%. Notwithstanding the foregoing, in the event that Three-Month LIBOR as determined in accordance with this definition
is less than zero, Three-Month LIBOR for such interest period shall be deemed to be zero.


 




    	 	3	 



     


    

 


(d)          Section
1.1 of the Base Indenture is amended and supplemented, solely with respect to the Notes, by replacing the corresponding defined
term in the Base Indenture with the following defined terms:


 


“Senior Indebtedness” means:
(i) the principal and any premium or interest for money borrowed or purchased by the Company; (ii) the principal and any premium
or interest for money borrowed or purchased by another Person and guaranteed by the Company; (iii) any deferred obligation for
the payment of the purchase price of property or assets evidenced by a note or similar instrument or agreement; (iv) any obligations
to general and trade creditors; (v) any obligation arising from direct credit substitutes; (vi) any obligation associated with
derivative products such as interest and foreign exchange rate contracts, commodity contracts and similar arrangements; and (vii)
all obligations of the type referred to in clauses (i) through (vi) above of other persons or entities for the payment of which
the Company is responsible or liable as obligor, guarantor or otherwise, whether or not classified as a liability on a balance
sheet prepared in accordance with accounting principles generally accepted in the United States; in each case, whether outstanding
on the date this Subordinated Debt Indenture becomes effective, or created, assumed or incurred after that date. Senior Indebtedness
excludes any indebtedness that: (a) expressly states that it is junior to, or ranks equally in right of payment with, the Notes;
or (b) is identified as junior to, or equal in right of payment with, the Notes in any Board Resolution establishing such series
of Securities or in any supplemental indenture. Notwithstanding the foregoing, and for the avoidance of doubt, if the Federal Reserve
(or other competent regulatory agency or authority) promulgates any rule or issues any interpretation that defines general creditor(s),
the main purpose of which is to establish criteria for determining whether the subordinated debt of a financial or bank holding
company is to be included in its capital, then the term “general creditors” as used in this definition will have the
meaning as described in that rule or interpretation.


 


Article
III

FORM AND TERMS OF THE Notes


 


Section 3.01.         Form
and Dating.


 


(a)          The
Notes shall be substantially in the form of Exhibit A attached hereto. The Notes shall be executed on behalf of the Company
by its Chairman of the Board, its Chief Executive Officer, its President or one of its Executive Vice Presidents, attested by its
Secretary or one of its Assistant Secretaries. The Notes may have a legend or legends or endorsements as may be required to comply
with any law or with any rules of any securities exchange or usage. The Notes shall be dated the date of their authentication.


 


(b)          The
terms contained in the Notes shall constitute, and are hereby expressly made, a part of the Indenture as supplemented by this First
Supplemental Indenture, and the Company and the Trustee, by their execution and delivery of this First Supplemental Indenture,
expressly agree to such terms and provisions and to be bound thereby.


 


Section 3.02.         Terms
of the Notes. The following terms relating to the Notes are hereby established:


 


(a)          Title.
The Notes shall constitute a series of Securities having the title “Ameris Bancorp 5.75% Fixed-to-Floating Rate Subordinated
Notes due 2027” and the CUSIP number 03076KAA6.


 




    	 	4	 



     


    

 


(b)          Principal
Amount. The aggregate principal amount of the Notes that may be authenticated and delivered under the Indenture, as amended
hereby, shall be Seventy-Five Million Dollars ($75,000,000) on the Issue Date. Provided that no Event of Default has occurred and
is continuing with respect to the Notes, the Company may, without notice to or the consent of the Holders, create and issue additional
Securities having the same terms as, and ranking equally and ratably with, the Notes in all respects and so that such additional
Notes will be consolidated and form a single series with, and have the same terms as to status, redemption or otherwise as, the
Notes initially issued, provided that such additional Notes are fungible for U.S. federal income tax purposes with the Notes.


 


(c)          Person
to Whom Interest is Payable. Interest payable, and punctually paid or duly provided for, on any Interest Payment Date will
be paid to the person in whose name the Notes are registered for such interest at the close of business on the last day of the
month immediately preceding the applicable Interest Payment Date, whether or not such day is a Business Day. Any such interest
which is payable, but not so punctually paid or duly provided for on any Interest Payment Date shall cease to be payable to the
Holder on such relevant record date by virtue of having been a Holder on such date, and such defaulted interest may be paid by
the Company to the person in whose name the Note is registered at the close of business on a special record date for the payment
of such defaulted interest to be fixed by the Company, notice whereof shall be given to Holders of Notes of this series not less
than 10 days prior to such special record date that complies with Section 2.13 of the Base Indenture, or be paid at any time in
any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed and
upon such notice as may be required by such exchange and in compliance with the Base Indenture.


 


(d)          Maturity
Date. The entire outstanding Principal of the Notes shall be payable on March 15, 2027.


 


(e)          Interest.


 


(i)          The
Notes will bear interest at a fixed rate of 5.75% per annum from and including March 13, 2017 to, but excluding, March 15, 2022
(the “Fixed Rate Period”). Interest accrued on the Notes during the Fixed Rate Period will be payable semi-annually
in arrears on March 15 and September 15 of each year, commencing on September 15, 2017 (each such date a “Fixed Rate Interest
Payment Date”). The interest payable during the Fixed Rate Period will be paid to each holder in whose name a Note is
registered at the close of business on the last day (whether or not a Business Day) of the month immediately preceding the applicable
Fixed Rate Interest Payment Date (each such date, a “Fixed Rate Regular Record Date”).


 


(ii)         The
Notes will bear a floating interest rate from and including March 15, 2022 to, but excluding the Maturity Date or Redemption Date
(the “Floating Rate Period”). The floating interest rate will be reset quarterly, and the interest rate for
any Floating Rate Period shall be equal to Three-Month LIBOR plus 3.616%. During the Floating Rate Period, interest on the Notes
will be payable quarterly in arrears on March 15, June 15, September 15 and December 15 of each year commencing on June 15, 2022
through the Maturity Date or Redemption Date (each such date, a “Floating Rate Interest Payment Date”, together
with a Fixed Rate Interest Payment Date, an “Interest Payment Date”). The interest payable during the Floating
Rate Period will be paid to each holder in whose name a Note is registered at the close of business on the last day (whether or
not a Business Day) of the month immediately preceding the applicable Floating Rate Interest Payment Date (each such date, a “Floating
Rate Regular Record Date”).


 




    	 	5	 



     


    

 


(iii)        The
amount of interest payable on any Fixed Rate Interest Payment Date during the Fixed Rate Period will be computed on the basis of
a 360-day year consisting of twelve 30-day months up to, but excluding, March 15, 2022, and, the amount of interest payable on
any Floating Rate Interest Payment Date during the Floating Rate Period will be computed on the basis of a 360-day year and the
number of days actually elapsed. In the event that any scheduled Interest Payment Date for the Notes falls on a day that is not
a Business Day, then payment of interest payable on such Interest Payment Date will be paid on the next succeeding day which is
a Business Day (any payment made on such date will be treated as being made on the date that the payment was first due and no interest
on such payment will accrue for the period from and after such scheduled Interest Payment Date); provided, that in the event that
any scheduled Floating Rate Interest Payment Date falls on a day that is not a Business Day and the next succeeding Business Day
falls in the next succeeding calendar month, such Floating Rate Interest Payment Date will be accelerated to the immediately preceding
Business Day, and, in each such case, the amounts payable on such Business Day will include interest accrued to but excluding such
Business Day. Dollar amounts resulting from interest calculations will be rounded to the nearest cent, with one-half cent being
rounded upward.


 


(iv)        The
Company agrees that for so long as any of the Notes are outstanding there will at all times be an agent appointed to calculate
Three-Month LIBOR in respect of each Floating Rate Period (the “Calculation Agent”). The calculation of Three-Month
LIBOR for each applicable Floating Rate Period by the Calculation Agent will (in the absence of manifest error) be final and binding.
The Calculation Agent shall have all the rights, protections and indemnities afforded to the Trustee under the Base Indenture and
hereunder. The Company hereby appoints Wilmington Trust, National Association, as Calculation Agent for the purposes of determining
Three-Month LIBOR for each Floating Interest Period and Wilmington Trust, National Association accepts the appointment. The Calculation
Agent may be removed by the Company at any time. If the Calculation Agent is unable or unwilling to act as Calculation Agent or
is removed by the Company, the Company will promptly appoint a replacement Calculation Agent, which does not control or is not
controlled by or under common control with the Company or its Affiliates. The Calculation Agent may not resign its duties without
a successor having been duly appointed; provided, that if a successor Calculation Agent has not been appointed by the Company and
such successor accepted such position within 30 days after the giving of notice of resignation by the Calculation Agent, the resigning
Calculation Agent may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor
Calculation Agent with respect to such series. The Calculation Agent’s calculation of the amount of any interest payable
after the first Reset Rate Determination Date will be maintained on file at the Calculation Agent’s principal offices.


 


(f)          Place
of Payment of Principal and Interest. So long as the Notes shall be issued in global form, the Company shall make, or cause
the Paying Agent to make, all payments of principal and interest on the Notes by wire transfer in immediately available funds to
the Depository or its nominee, in accordance with applicable procedures of the Depository. If the Notes are not in global form,
the Company, may, at its option, make, or cause the Paying Agent to make, payments of principal and interest on the Notes by check
mailed to the address of the person specified for payment in accordance with Section 3.02(e)(i) and (e)(ii) above. A global security
with respect to the Notes shall be exchangeable for physical securities of such series only if:


 


		·	The U.S. Depository is at any time unwilling or unable or ineligible to continue as a depository or ceases to be a clearing
agency registered under the Exchange Act and a successor depository is not appointed by the Company within 90 days of the date
the Company is so notified in writing;



 


		·	The Company executes and delivers to the Trustee a Company Order to the effect that such global securities shall be so exchangeable
(and the Trustee consents thereto); or



 




    	 	6	 



     


    

 


		·	An Event of Default has occurred and is continuing with respect to the global securities and a Holder requests such exchange.



 


(g)          Redemption.
The Notes shall be redeemable, in each case, in whole or in part from time to time, at the option of the Company prior to the Maturity
Date beginning with the Interest Payment Date on March 15, 2022, and on any Interest Payment Date thereafter subject to obtaining
the prior approval of the Federal Reserve to the extent such approval is required under the rules of the Federal Reserve. The Notes
may not otherwise be redeemed prior to the Maturity Date, except that the Company may, at its option, redeem the Notes before the
Maturity Date in whole but not in part from time to time, upon the occurrence of a Tier 2 Capital Event or a Tax Event, or if the
Company is required to register as an investment company pursuant to the Investment Company Act of 1940, as amended (15 U.S.C.
80a-1 et seq.). Any such redemption will be at a Redemption Price equal to 100% of the principal amount of the Notes to be redeemed,
plus accrued and unpaid interest to, but excluding, the redemption date fixed by the Company. The provisions of Article III of
the Base Indenture shall apply to any redemption of the Notes pursuant to this Article 3. Any partial redemption will be made in
accordance with The Depository Trust Company’s (“DTC”) applicable procedures among all of the Holders
of the Notes. If any Note is to be redeemed in part only, the notice of redemption relating to such Note shall state that it is
a partial redemption and the portion of the principal amount thereof to be redeemed. The Notes are not subject to redemption or
prepayment at the option of the Holders.


 


(h)          Sinking
Fund. There shall be no sinking fund for the Notes.


 


(i)          Denomination.
The Notes and any beneficial interest in the Notes shall be in minimum denominations of $1,000 and integral multiples of $1,000
in excess thereof.


 


(j)          Currency
of the Notes. The Notes shall be denominated, and payment of principal and interest of the Notes shall be payable in, the currency
of the United States of America.


 


(k)          Acceleration.
Neither the Trustee nor the Holders of the Notes shall have the right to accelerate the maturity of the Notes unless there is an
Event of Default specified under clause (e), (f) or (h) of Section 6.1 (as amended herein) of the Base Indenture. If an Event of
Default specified in clause (e), (f) or (h) of Section 6.1 (as amended herein) of the Base Indenture occurs, then the principal
amount of all of the outstanding Notes, including any accrued and unpaid interest on the Notes and premium, if any, shall automatically
become and be immediately due and payable without any declaration or other act on the part of the Trustee or the Holders of the
Notes in accordance with the provisions of Section 6.2 of the Base Indenture.


 


(l)          Stated
Maturity. The principal of the Notes shall be payable on March 15, 2027 subject to acceleration as provided under the Indenture.


 


(m)          Registered
Form. The Notes shall be issuable as registered global Securities, and the U.S. Depository for the Notes shall be the DTC or
any successor U.S. Depository appointed by the Company within 90 days of the termination of services of DTC (or any successor to
DTC). Sections 2.11 and 2.13 of the Base Indenture shall apply to the Notes.


 


(n)          Events
of Default. The Events of Default provided for in Section 6.1 of the Base Indenture shall apply to the Notes, provided that:


 


(i)          the
text of clause (c) of Section 6.1 of the Base Indenture is deleted and replaced with the word “Reserved”;


 




    	 	7	 



     


    

 


(ii)         the
text of clause (e) of Section 6.1 of the Base Indenture shall be substituted with the following:


 


“(e) The Company shall consent to the
appointment of a Custodian in any receivership, insolvency, liquidation or similar proceeding with respect to the Company;”


 


(iii)        the
text of clause (f) of Section 6.1 of the Base Indenture shall be substituted with the following:


 


“(f) A court having jurisdiction in the
premises shall enter a decree or order for the appointment of a Custodian in any receivership, insolvency, liquidation, or similar
proceeding relating to the Company, and such decree or order shall remain unstayed and in effect for a period of 60 consecutive
days;” and


 


(iv)        a
new clause (h), reading in its entirety as follows, shall be inserted:


 


“(h) in the event of an appointment of
a Custodian for the Company’s principal banking subsidiary, Ameris Bank.”


 


(o)          Acceleration
of Maturity, Rescission and Annulment. Section 6.2 of the Base Indenture shall apply to the Notes, except that the first paragraph
thereof shall be substituted with the following:


 


“If an Event of Default specified in Sections 6.1(e),
6.1(f) or 6.1(h) occurs, the principal amount of all the Notes, together with accrued and unpaid interest, if any, thereon, shall
automatically, and without any declaration or other action on the part of the Trustee or any Holder, become immediately due and
payable. The Maturity of the Notes shall not otherwise be accelerated as a result of an Event of Default.”


 


(p)          Ranking.
The Notes shall rank junior to and shall be subordinated to all Senior Indebtedness of the Company, whether existing as of the
date of this First Supplemental Indenture, or hereafter issued or incurred, including all indebtedness relating to money owed to
general creditors and trade creditors. The Notes shall rank senior to the Company’s: (i) Floating Rate Junior Subordinated
Deferrable Interest Debentures due 2033; (ii) Junior Subordinated Debt Securities due 2033; (iii) Floating Rate Junior Subordinated
Deferrable Interest Notes due 2034; (iv) Floating Rate Junior Subordinated Deferrable Interest Debentures due 2034; (v) Junior
Subordinated Debt Securities due 2035; (vi) Floating Rate Junior Subordinated Deferrable Interest Debentures due 2035; (vii) Fixed/Floating
Rate Junior Subordinated Deferrable Interest Debentures due 2035; (viii) Floating Rate Junior Subordinated Deferrable Interest
Debentures due 2036; (ix) Floating Rate Junior Subordinated Deferrable Interest Debentures due 2036; (x) Floating Rate Junior Subordinated
Deferrable Interest Debentures due 2036: (xi) Floating Rate Junior Subordinated Deferrable Interest Debentures due 2036: (xii)
Fixed/Floating Rate Junior Subordinated Deferrable Interest Debentures due 2037; and (xiii) Junior Subordinated Debt Securities
due 2038. Subject to the terms of the Base Indenture, if the Trustee or any holder of any of the
Notes receives any payment or distribution of the Company’s assets in contravention of the subordination provisions applicable
to the Notes before all Senior Indebtedness is paid in full in cash, property or securities, including by way of set-off or any
such payment or distribution that may be payable or deliverable by reason of the payment of any other indebtedness of the Company
being subordinated to the payment of the Notes, then such payment or distribution will be held in trust for the benefit of holders
of Senior Indebtedness or their representatives to the extent necessary to make payment in full in cash or payment satisfactory
to the holders of Senior Indebtedness of all unpaid Senior Indebtedness.


 




    	 	8	 



     


    

 


(q)          No
Collateral. The Notes shall not be entitled to the benefit of any security interest in, or collateralization by, any rights,
property or interest of the Company.


 


(r)          Additional
Terms. Other terms applicable to the Notes are as otherwise provided for in the Base Indenture, as supplemented by this First
Supplemental Indenture.


 


Article
IV

SUPPLEMENTAL INDENTURES


 


Section 4.01.         Supplemental
Indentures. The following paragraph shall be added to the end of Section 9.2 of the Base Indenture and shall only apply to
the Notes:


 


“Not in limitation of the foregoing, without the consent
of any Holder of Notes, the Company and the Trustee may amend or supplement the Indenture or the Notes to conform the terms of
the Indenture and the Notes to the description of the Notes in the prospectus supplement dated March 7, 2017 relating to the offering
of the Notes.”


 


Article
V

MISCELLANEOUS


 


Section 5.01.         Trust
Indenture Act. This First Supplemental Indenture is subject to the provisions of the Trust Indenture Act that are required
to be part of the Indenture and shall, to the extent applicable, be governed by such provisions. If any provision of this First
Supplemental Indenture limits, qualifies, or conflicts with a provision of the Trust Indenture Act that is required under such
act to be a part of and govern this First Supplemental Indenture, the latter provision shall control.


 


Section
5.02.         Governing Law. The laws of the State of New York shall govern
this First Supplemental Indenture and the Notes.


 


Section 5.03.         Duplicate
Originals. The parties may sign any number of copies of this First Supplemental Indenture. Each signed copy shall be an original,
but all of them together represent the same agreement. The exchange of copies of this First Supplemental Indenture and of signature
pages by facsimile or electronic format (e.g., “.pdf” or “.tif”) transmission shall constitute effective
execution and delivery of this First Supplemental Indenture as to the parties hereto and may be used in lieu of the original First
Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or electronic format (e.g.,
“.pdf” or “.tif”) shall be deemed to be their original signatures for all purposes.


 


Section 5.04.         Severability.
In case any provision in this First Supplemental Indenture or the Notes shall be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.


 


Section 5.05.         Ratification.
The Base Indenture, as supplemented and amended by this First Supplemental Indenture, is in all respects ratified and confirmed.
The Base Indenture and this First Supplemental Indenture shall be read, taken and construed as one and the same instrument. All
provisions included in this First Supplemental Indenture supersede any conflicting provisions included in the Base Indenture unless
not permitted by law. The Trustee accepts the trusts created by the Base Indenture, as supplemented by this First Supplemental
Indenture, and agrees to perform the same upon the terms and conditions of the Base Indenture, as supplemented by this First Supplemental
Indenture.


 




    	 	9	 



     


    

 


Section 5.06.         Effectiveness.
The provisions of this First Supplemental Indenture shall become effective as of the date hereof.


 


Section 5.07.         Successors.
All agreements of the Company in this First Supplemental Indenture shall bind its successors. All agreements of the Trustee in
this First Supplemental Indenture shall bind its successors.


 


Section 5.08.         Indenture
and Notes Solely Corporate Obligations. No recourse for the payment of the principal of or interest on any Note, or for any
claim based thereon or otherwise in respect thereof, shall be had against any shareholder, employee, agent, officer or director,
as such, past, present or future, of the Company or of any successor Person; it being expressly understood that all such liability
is hereby expressly waived and released as a condition of, and as a consideration for, the execution of this First Supplemental
Indenture and the issue of the Notes.


 


Section 5.09.         Trustee’s
Disclaimer. The recitals contained herein shall be taken as the statements of the Company and the Trustee assumes no responsibility
for their correctness. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency
of this First Supplemental Indenture, the Notes, or for or in respect of the recitals contained herein, all of which recitals are
made solely by the Company.


 


Section 5.10.         USA
PATRIOT Act. The parties hereto acknowledge that in accordance with Section 326 of the USA PATRIOT Act, the Trustee, like all
financial institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify,
and record information that identifies each person or legal entity that establishes a relationship or opens an account. The parties
to this First Supplemental Indenture agree that they shall provide the Trustee with such information as they may request in order
to satisfy the requirements of the USA PATRIOT Act.


 


[Remainder of page intentionally left blank.]


 




    	 	10	 



     


    

 


IN WITNESS WHEREOF, the parties hereto have
caused this First Supplemental Indenture to be duly executed as of the date first above written.


 


	 	AMERIS BANCORP
	 	 	 
	 	By:	/s/ Dennis J. Zember Jr.
	 	 	Dennis J. Zember Jr.
	 	 	Executive Vice President, Chief Operating Officer and Chief Financial Officer


 


	Attest:	 
	 	 	 
	By:	/s/ Cindi H. Lewis	 
	 	Cindi H. Lewis	 
	 	Corporate Secretary	 


 


[Signature Page to First Supplemental Indenture]


 




     


     


    

 


	 	Wilmington Trust, National Association,  as Trustee
	 	 	 
	 	By:	/s/ Michael H. Wass
	 	Name:  Michael H. Wass
	 	Title:  Vice President


 


[Signature Page to First Supplemental Indenture]


 




     


     


    

 


EXHIBIT A


 


FORM OF NOTE


 


See attached.


 




     


     


    

 


THIS SECURITY AND THE OBLIGATIONS OF THE
COMPANY (AS DEFINED HEREIN) AS EVIDENCED HEREBY (1) ARE NOT DEPOSITS WITH OR HELD BY THE COMPANY AND ARE NOT INSURED OR GUARANTEED
BY ANY FEDERAL AGENCY OR INSTRUMENTALITY, INCLUDING, WITHOUT LIMITATION, THE FEDERAL DEPOSIT INSURANCE CORPORATION, AND (2) ARE
SUBORDINATE IN THE RIGHT OF PAYMENT TO THE SENIOR INDEBTEDNESS (AS DEFINED IN THE INDENTURE IDENTIFIED HEREIN).


 


GLOBAL NOTE


 


THIS SECURITY IS A GLOBAL SECURITY WITHIN THE
MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY,
WHICH MAY BE TREATED BY THE COMPANY, THE TRUSTEE AND ANY AGENT THEREOF AS OWNER AND HOLDER OF THIS SECURITY FOR ALL PURPOSES.


 


UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR
IN PART FOR THE INDIVIDUAL SECURITIES REPRESENTED HEREBY, THIS GLOBAL SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE (I) BY
THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR (II) BY A NOMINEE OF THE DEPOSITARY OR THE DEPOSITARY TO A SUCCESSOR DEPOSITARY
OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT AND ANY CERTIFICATE ISSUED IS REGISTERED
IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND
ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.


 


TRANSFERS OF THIS GLOBAL SECURITY SHALL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, OR BY A NOMINEE OF THE DEPOSITARY
TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY, OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A
NOMINEE OF SUCH SUCCESSOR DEPOSITARY.


 




     


     


    

 


AMERIS BANCORP


 


5.75% Fixed-to-Floating Rate Subordinated Notes
due 2027


 


	No. 1	CUSIP: 03076KAA6
	 	ISIN: US03076KAA60


 


$75,000,000


 


Ameris Bancorp, a Georgia
corporation (hereinafter called the “Company,” which term includes any successor corporation under the Indenture
hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or its registered assigns, the principal
sum of $75,000,000 (or such other amount as set forth in the Schedule of Increases or Decreases in Global Note attached hereto)
on March 15, 2027 (such date is hereinafter referred to as the “Stated Maturity Date”), unless redeemed prior
to such date, and to pay interest thereon (i) from, and including, March 13, 2017, to, but excluding, March 15, 2022, unless redeemed
prior to such date, at a rate of 5.75% per annum, semi-annually in arrears on March 15 and September 15 of each year, commencing
September 15, 2017 (each such date, a “Fixed Rate Interest Payment Date,” with the period from, and including,
March 13, 2017 to, but excluding, the first Fixed Rate Interest Payment Date and each successive period from, and including, a
Fixed Rate Interest Payment Date to, but excluding, the next Fixed Rate Interest Payment Date being a “Fixed Rate Period”)
and (ii) from, and including, March 15, 2022 to the Stated Maturity Date, unless redeemed subsequent to March 15, 2022 but prior
to the Stated Maturity Date, at a rate equal to Three-month LIBOR, reset quarterly, plus 361.6 basis points (3.616%), payable quarterly
in arrears on March 15, June 15, September 15, and December 15 of each year through the Stated Maturity Date or earlier redemption
date (each, a “Floating Rate Interest Payment Date,” and together with the Fixed Rate Interest Payment Dates,
the “Interest Payment Dates,” with the period from, and including, March 15, 2022 to, but excluding, the first
Floating Rate Interest Payment Date and each successive period from, and including a Floating Rate Interest Payment Date to, but
excluding, the next Floating Rate Interest Payment Date being a “Floating Rate Period”). The amount of interest
payable on any Fixed Rate Interest Payment Date during the Fixed Rate Period will be computed on the basis of a 360-day year consisting
of twelve 30-day months up to, but excluding March 15, 2022, and, the amount of interest payable on any Floating Rate Interest
Payment Date during the Floating Rate Period will be computed on the basis of a 360-day year and the number of days actually elapsed.
In the event that any scheduled Interest Payment Date for this Note falls on a day that is not a Business Day, then payment of
interest payable on such Interest Payment Date will be paid on the next succeeding day which is a Business Day (any payment made
on such date will be treated as being made on the date that the payment was first due and no interest on such payment will accrue
for the period from and after such scheduled Interest Payment Date); provided, that in the event that any scheduled Floating Rate
Interest Payment Date falls on a day that is not a Business Day and the next succeeding Business Day falls in the next succeeding
calendar month, such Floating Rate Interest Payment Date will be accelerated to the immediately preceding Business Day, and, in
each such case, the amounts payable on such Business Day will include interest accrued to but excluding such Business Day. All
percentages used in or resulting from any calculation of Three-month LIBOR shall be rounded, if necessary, to the nearest one hundred-thousandth
of a percentage point, with 0.000005% rounded up to 0.00001%.


 


Any principal and premium,
and any such installment of interest, which is overdue shall bear interest at the applicable rate set forth in the previous paragraph
(to the extent that the payment of such interest shall be legally enforceable), from the dates such amounts are due until they
are paid or made available for payment, and such interest shall be payable on demand. The interest so payable, and punctually paid
or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this
Note is registered at the close of business on the last day of the month (whether or not a Business Day) immediately preceding
such Interest Payment Date.


 




     


     


    

 


Payment of the principal
of and interest on this Note will be made at the office or agency of the Company maintained for that purpose, which shall initially
be the Corporate Trust Office of the Trustee, in such currency of the United States of America as at the time of payment is legal
tender for payment of public and private debts.


 


Reference is hereby made
to the further provisions of this Note set forth on the reverse hereof, which further provisions shall for all purposes have the
same effect as if set forth at this place.


 


Unless the certificate
of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Note shall
not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.


 


[Remainder of this page intentionally left
blank. Signature page follows.]


 




     


     


    

 


IN WITNESS WHEREOF, the Company has caused
this Note to be signed manually or by facsimile by its duly authorized officers.


 


	 	AMERIS BANCORP
	 	 	 
	 	By:	 
	 	 	Dennis J. Zember Jr.
	 	 	Executive Vice President, Chief Operating Officer and Chief Financial Officer


 


	Attest:	 
	 	 	 
	By:	 	 
	 	Cindi H. Lewis	 
	 	Corporate Secretary	 


 




     


     


    

 


TRUSTEE’S CERTIFICATE OF AUTHENTICATION


 


This is one of the Notes of the series designated
therein referred to in the within-mentioned Indenture.


 


Date of authentication: __________


 


	 	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee
	 	 	 
	 	By:	 
	 	 	Authorized Signatory


 




     


     


    

 


REVERSE OF NOTE


 


AMERIS BANCORP


 


5.75% Fixed-to-Floating Rate Subordinated Notes
due 2027


 


This Note is one of a
duly authorized issue of Securities of the Company of a series designated as the “5.75% Fixed-to-Floating Rate Subordinated
Notes due 2027” (herein called the “Notes”) initially issued in an aggregate principal amount of $75,000,000
on March 13, 2017. Such series of Securities has been established pursuant to, and is one of an indefinite number of series of
subordinated debt securities of the Company issued or issuable under and pursuant to the Subordinated Debt Indenture, dated as
of March 13, 2017 (the “Base Indenture”), between the Company and Wilmington Trust, National Association, as
Trustee (herein called the “Trustee,” which term includes any successor trustee), as supplemented and amended
by the First Supplemental Indenture between the Company and the Trustee, dated as of March 13, 2017 (the “First Supplemental
Indenture,” and the Base Indenture as supplemented and amended by the First Supplemental Indenture, the “Indenture”),
to which Indenture and any other indentures supplemental thereto reference is hereby made for a statement of the respective rights,
limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Persons in whose names Notes are registered
from time to time and of the terms upon which the Notes are, and are to be, authenticated and delivered. The terms, conditions
and provisions of the Notes are those stated in the Indenture, those made part of the Indenture by reference to the Trust Indenture
Act of 1939, as amended (the “Trust Indenture Act”), and those set forth in this Note. To the extent that the
terms, conditions and provisions of this Note modify, supplement or are inconsistent with those of the Indenture, then the terms,
conditions and other provisions of this Note shall govern to the extent that such terms, conditions and other provisions of this
Note are not inconsistent with the terms, conditions and provisions made part of the Indenture by reference to the Trust Indenture
Act.


 


All capitalized terms
used in this Note and not defined herein that are defined in the Indenture shall have the meanings assigned to them in the Indenture.
To the extent that any capitalized term used in this Note and defined herein is also defined in the Indenture but conflicts with
the definition provided in the Indenture, the definition of the capitalized term in this Note shall control.


 


The indebtedness of the
Company evidenced by the Notes, including the principal thereof, premium, if any, Additional Amounts, if any, and interest thereon,
is, to the extent and in the manner set forth in the Indenture, subordinate and subject in right of payment to the prior payment
in full of all Senior Indebtedness, whether outstanding at the date hereof or hereafter incurred, and on the terms and subject
to the terms and conditions set forth in the Indenture, and shall rank pari passu in right of payment with all other Securities
and with all other unsecured subordinated indebtedness of the Company and not by its terms subordinate and subject in right of
payment to the prior payment in full of debentures, notes, bonds or other evidences of indebtedness of types that include the Notes.
Each Holder of this Note, by the acceptance hereof, agrees to and shall be bound by such provisions of the Indenture and authorizes
and directs the Trustee on his behalf to take such actions as may be necessary or appropriate to effectuate the subordination so
provided.


 


The Notes are intended
to be treated as Tier 2 capital (or its then-equivalent if the Company were subject to such capital requirement) for purposes of
capital adequacy guidelines of the Board of Governors of the Federal Reserve System (or any successor regulatory authority with
jurisdiction over bank holding companies) (the “Federal Reserve Board”) as then in effect and applicable to
the Company. If an Event of Default with respect to Notes shall occur and be continuing, the principal and interest owed on the
Notes shall only become due and payable in accordance with the terms and conditions set forth in Article VI of the Base Indenture
and Sections 3.02(k) and (o) of the First Supplemental Indenture. Accordingly, the Holder of this Note has no right to accelerate
the maturity of this Note in the event that the Company fails to pay interest on any of the Notes, or fails to perform any other
obligations under the Notes or in the Indenture that are applicable to the Notes.


 




     


     


    

 


The Company may, at its
option, redeem the Notes, in whole or in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed,
plus accrued and unpaid interest (the “Redemption Price”) to but excluding, the date of redemption (the “Redemption
Date”), on any Interest Payment Date on or after March 15, 2022. The Company may also, at its option, redeem the Notes
before the Stated Maturity Date, in whole, but not in part, at any time, upon the occurrence of a Tier 2 Capital Event, a Tax Event
or a 1940 Act Event. Any such redemption will be at a redemption price equal to the Redemption Price to, but excluding, the Redemption
Date fixed by the Company. No redemption of the Notes by the Company prior to the Stated Maturity Date shall be made without the
prior approval of the Federal Reserve Board if such prior approval is or will be required at the scheduled Redemption Date. The
provisions of Article III of the Base Indenture and Section 3.02(g) of the First Supplemental Indenture shall apply to the redemption
of any Notes by the Company.


 


The Notes are not entitled
to the benefit of any sinking fund. The Notes are not convertible into or exchangeable for any other securities or property of
the Company or any Subsidiary of the Company.


 


The Indenture permits,
with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company
and the rights of the Holders of the Notes at any time by the Company and the Trustee with the consent of the Holders of at least
a majority in principal amount of the Outstanding Notes. The Indenture also contains provisions permitting the Holders of specified
percentages in principal amount of the Notes at the time Outstanding, on behalf of the Holders of all Notes, to waive certain past
defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive
and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer
hereof or in exchange therefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note.


 


As provided in the Indenture
and subject to certain limitations therein set forth, the transfer of this Note is registrable in the Register described in Section
2.7 of the Base Indenture, upon surrender of this Note for registration of transfer at the office or agency of the Company in any
place where the principal of and interest on this Note are payable, duly endorsed by, or accompanied by a written instrument of
transfer in form satisfactory to the Company and the Registrar duly executed by the Holder hereof or his attorney duly authorized
in writing, and thereupon one or more new Notes, of authorized denominations and for the same aggregate principal amount, will
be issued to the designated transferee or transferees.


 


The Notes are issuable
only in registered form without coupons in minimum denominations of $1,000 and any integral multiples of $1,000 in excess thereof.


 


The Company and the Trustee
and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for
all purposes, whether or not this Note is overdue, and neither the Company, the Trustee nor any such agent shall be affected by
notice to the contrary.


 


This Security is a
global note, represented by one or more permanent global certificates registered in the name of the nominee of The Depository Trust
Company (each a “Global Note” and collectively, the “Global Notes”). Accordingly, unless
and until it is exchanged for individual certificates, this Note may not be transferred except as a whole by The Depository Trust
Company (the “Depositary”) to a nominee of such Depositary or by a nominee of such Depositary or by the Depositary
or any nominee to a successor Depositary or any nominee of such successor. Ownership of beneficial interests in this Security will
be shown on, and the transfer of that ownership will be effected only through, records maintained by the applicable Depositary
or its nominee (with respect to interest of persons that have accounts with the Depositary (“Participants”))
and the records of Participants (with respect to interests of persons other than Participants). Beneficial interests in Notes owned
by persons that hold through Participants will be evidenced only by, and transfers of such beneficial interests with such Participants
will be effected only through, records maintained by such Participants. Except as provided below, owners of beneficial interests
in this Note will not be entitled to have any individual certificates and will not be considered the owners or Holders thereof
under the Indenture.


 




     


     


    

 


Except in the limited
circumstances set forth in the Base Indenture, Participants and owners of beneficial interests in the Global Notes will not be
entitled to receive Notes in the form of Individual Securities and will not be considered Holders of Notes. None of the Company,
the Trustee, the Registrar, the Paying Agent or any of their respective agents will be liable for any delay by the Depositary,
its nominee or any direct or indirect Participant in identifying the beneficial owners of the related Notes. The Company, the Trustee,
the Registrar, the Paying Agent and each of their respective agents may conclusively rely on, and will be protected in relying
on, instructions from the Depositary or its nominee for all purposes, including with respect to the registration and delivery,
and the respective principal amounts, of the Notes to be issued.


 


Except as provided
in Section 2.14 of the Base Indenture, beneficial owners of Global Notes will not be entitled to receive physical delivery of Notes
in the form of Individual Securities, and no Global Note will be exchangeable except for another Global Note of like denomination
and tenor to be registered in the name of the Depositary or its nominee. Accordingly, each person owning a beneficial interest
in a Global Note must rely on the procedures of the Depositary and, if such person is not a Participant, on the procedures of the
Participant through which such person owns its interest, to exercise any rights of a Holder under the Notes.


 


The laws of some jurisdictions
may require that certain purchasers of securities take physical delivery of those securities in definitive form. Accordingly, the
ability to transfer interests in the Notes represented by a Global Note to those persons may be limited. In addition, because the
Depositary can act only on behalf of its Participants, who in turn act on behalf of persons who hold interests through Participants,
the ability of a person having an interest in Notes represented by a Global Note to pledge or transfer such interest to persons
or entities that do not participate in the Depositary’s system, or otherwise to take actions in respect of such interest,
may be affected by the lack of a physical definitive security in respect of such interest. None of the Company, the Trustee, the
Paying Agent and the Registrar will have any responsibility or liability for any aspect of the records relating to or payments
made on account of Notes by the Depositary, or for maintaining, supervising or reviewing any records of the Depositary relating
to the Notes.


 


The Trustee will act as
the Company’s Paying Agent with respect to the Notes through its Corporate Trust Office presently located at 1100 North Market
Street, Wilmington, Delaware 19890, Attention: Ameris Bancorp Administrator. The Company may at any time rescind the designation
of a Paying Agent, appoint a successor Paying Agent, or approve a change in the office through which any Paying Agent acts.


 


Notices to the Holders
of registered Notes in the form of Individual Securities will be given to such Holders at their respective addresses in the Register,
or in the case of Global Notes, electronic delivery in accordance with DTC’s applicable procedures. The Indenture contains
provisions setting forth certain conditions to the institution of proceedings by the Holders of Notes with respect to the Indenture
or for any remedy under the Indenture.


 


THIS NOTE SHALL BE DEEMED
TO BE A CONTRACT MADE UNDER THE LAWS OF THE STATE OF NEW YORK.


 




     


     


    

 


ASSIGNMENT FORM


 


To assign the within Security, fill in the
form below: I or we assign and transfer the within Security to:


 


	 	 	 
	 	(Insert assignee’s legal name)	 
	 	 	 
	 	 	 
	 	(Insert assignee’s social security or tax I.D. number)	 
	 	 	 
	 	 	 
	 	(Print or type assignee’s name, address and zip code)	 


 


and irrevocably appoint the Trustee as agent to transfer this Security
on the books of Ameris Bancorp. The agent may substitute another to act for it.


 


Your Signature:


 


(Sign exactly as your name appears on the other side of this
Security)


 


Your Name:


 


Date:


 


Signature Guarantee:


 


SIGNATURE GUARANTEE


 


Signatures must be guaranteed by an “eligible
guarantor institution” meeting the requirements of the Registrar, which requirements include membership or participation
in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program”
as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange
Act of 1934, as amended.


 




     


     


    

 


SCHEDULE OF INCREASES OR DECREASES IN GLOBAL
NOTE


 


The initial principal amount of this Global
Note is $75,000,000. The following increases or decreases in the principal amount of this Global Note have been made:


 


	 
Date
	 	Amount of

    decrease in
 principal amount

    of this 
 Global Note	 	 	Amount of

    increase in
 principal amount

    of this 
 Global Note	 	 	Principal 

    amount
 of this 
 Global
    Note 
 following such 
 decrease
    
 or increase	 	 	Signature of

    authorized
 signatory of
 Trustee