Daily Record Financial News &
Monday, November 27, 2017
Vol. 105, No. 008 • One Section
35¢
www.jaxdailyrecord.com
New rule boosts pool of legal aid volunteers “Emeritus Rule” change frees more than 3,500 retired attorneys, judges and law professors to help clients. By Max Marbut Associate Editor The Florida Bar rule that governs who can volunteer to help clients at legal aid organizations changed Nov. 20 — and the change added more than 3,500 retired attorneys, judges and law professors from accredited law schools to the list of eligible candidates. Based on a recommendation from the Florida Commission on Access to Civil Justice, the state Supreme Court approved amending the “Emeritus Rule” and it could create a positive trend for the nonprofits that provide legal services to people who can’t afford to hire an attorney for a civil matter. “It’s designed to make it easier to connect lawyers who can help with clients who need help,” said Jim Kowalski, president and CEO of Jacksonville Area Rules
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Jacksonville Area Legal Aid President and CEO Jim Kowalski, left, and Holland & Knight partner Donny MacKenzie serve on the Florida Commission on Access to Civil Justice. Last week, a rule change recommended by the commission went into effect that will make thousands of attorneys, judges and educators eligible to volunteer at legal aid organizations. Photo by Max Marbut
Ameris still waiting for all-clear on compliance issues Bank can’t finalize deal for Atlantic Coast until it gets FDIC go-ahead. Nearly a year ago, federal banking regulators told Ameris Bancorp it could not pursue any
merger and acquisition opportunities until it settled compliance issues with the Bank Secrecy Act. You might think it is all resolved because Ameris announced an agreement 10 days ago to buy Atlantic Coast Financial Corp. However, it turns out, the bank still hasn’t received the go-ahead from the Federal Deposit Insurance Corp. “We have a very high degree of confidence that the consent order is going to be lifted soon,
which would allow this deal to proceed through the approval channels and be consummated in the normal time periods without any delays,” Ameris CEO Edwin Hortman said during a conference call with analysts to discuss the $145 million acquisition agreement. Ameris hopes to close the deal in the second quarter of 2018. The Bank Secrecy Act is a federal law requiring financial institutions to help the government prevent money laundering.
Ameris has said software glitches caused the bank to be noncompliant, but that it has worked to fix the problem. During the bank’s quarterly earnings conference call last month, Hortman expressed confidence that the FDIC would soon lift the consent order, allowing Ameris to announce a merger deal before the end of this year. Ameris apparently couldn’t wait. During the call to discuss
Atlantic Coast Financial, Hortman said the bank had “a good exam” with the FDIC, which is why he expects to hear something positive from the regulators. “I firmly believe we’re in the final stretch of that effort,” he said. It will be good for the bank if he’s right, because analysts like the Atlantic Coast Financial deal. Keefe, Bruyette & Woods analyst Brady Gailey raised his ratBasch
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The Marbut Report: Busy year for young lawyers Young Lawyers Section helps attorneys learn, network –and have fun Public
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