Highlights of Ameris’s results for the second quarter of 2025 include the following:
- Net income of $109.8 million, or $1.60 per diluted share
- Return on average assets of 1.65%
- Return on average tangible common equity(1) of 15.82%
- Tangible book value(1) growth of $1.54 per share, or 15.5% annualized, to $41.32 at June 30, 2025
- TCE ratio(1) increased to 11.09%, compared with 9.72% one year ago
- Net interest margin (TE) expansion of 4bps to 3.77% for the second quarter of 2025
- Efficiency ratio improved to 51.63%
- Growth in total revenue of $14.9 million, or 20.9% annualized, from first quarter of 2025
- Growth in average earning assets of $564.3 million, or 9.3% annualized
- Loan growth of $334.9 million, or 6.5% annualized
- Continued growth in noninterest-bearing deposits, now representing 31.0% of total deposits
- Annualized net charge-offs improved to 0.14% of average total loans
Ameris Bancorp (NYSE: ABCB) (the “Company”) today reported net income of $109.8 million, or $1.60 per diluted share, for the quarter ended June 30, 2025, compared with $90.8 million, or $1.32 per diluted share, for the quarter ended June 30, 2024.
For the year-to-date period ending June 30, 2025, the Company reported net income of $197.8 million, or $2.87 per diluted share, compared with $165.1 million, or $2.39 per diluted share, for the same period in 2024.
Commenting on the Company’s results, Palmer Proctor, the Company’s Chief Executive Officer, said, “Our second quarter results underscore the strength, consistency, and long-term value of the Ameris franchise. We delivered above-peer profitability, with a return on assets of 1.65% and a return on tangible common equity of 15.82%. Tangible book value per share - one of our long-standing strategic priorities - grew at a 15.5% annualized rate to surpass $41. Other key performance indicators, including our net interest margin, allowance coverage ratio, and efficiency ratio, remain among the best in the industry. Backed by a strong balance sheet and a proven ability to execute, we are well positioned to capitalize on growth opportunities across our Southeast footprint and drive continued success through the remainder of 2025 and beyond.”
Net Interest Income and Net Interest Margin
Net interest income on a tax-equivalent basis (TE) grew to $232.7 million in the second quarter of 2025, an increase of $10.0 million, or 4.5%, from last quarter and an increase of $19.9 million, or 9.3%, compared with the second quarter of 2024. The Company's average earning assets increased during the quarter by $564.3 million, or 9.3% annualized, due to a $308.0 million increase in average portfolio loans outstanding, a $165.2 million increase in average loans held for sale during the quarter and a $119.3 million increase in the average balance of investment securities.
The Company's net interest margin expanded to 3.77% for the second quarter of 2025, a four basis point increase from 3.73% reported for the first quarter of 2025 and a 19 basis point improvement from the 3.58% reported for the second quarter of 2024.
Yields on earning assets increased three basis points during the quarter to 5.64%, compared with 5.61% in the first quarter of 2025. This increase is primarily related to a 17 basis point increase in yield on taxable securities and a three basis point increase in yield on portfolio loans during the second quarter of 2025.
The Company’s total cost of funds was stable at 2.06% in the second quarter of 2025, when compared with the first quarter of 2025, and improved 42 basis points compared with the second quarter of 2024. Deposit costs decreased three basis points during the second quarter of 2025 to 1.95%, compared with 1.98% in the first quarter of 2025. Costs of interest-bearing deposits during the quarter were 2.83%, unchanged from the first quarter of 2025.
Noninterest Income
Noninterest income increased $4.9 million, or 7.6%, in the second quarter of 2025 to $68.9 million, compared with $64.0 million for the first quarter of 2025. The increase was primarily driven by mortgage banking activity, which increased $4.0 million, or 11.3%, to $39.2 million in the second quarter of 2025, compared with $35.3 million for the first quarter of 2025. Total production in the retail mortgage division increased $334.9 million, or 35.9%, to $1.27 billion in the second quarter of 2025, compared with $933.0 million for the first quarter of 2025. The retail mortgage open pipeline was $719.1 million at the end of the second quarter of 2025, compared with $771.6 million for the first quarter of 2025. Gain on sale spreads increased to 2.22% in the second quarter of 2025 from 2.17% for the first quarter of 2025. Other noninterest income increased $678,000, or 8.7%, in the second quarter of 2025 to $8.5 million, compared with $7.8 million for the first quarter of 2025.
Noninterest Expense
Noninterest expense increased $4.3 million, or 2.8%, to $155.3 million during the second quarter of 2025, compared with $151.0 million for the first quarter of 2025. Salaries and employee benefits increased $2.7 million, or 3.1%, during the second quarter of 2025 primarily due to variable compensation related to mortgage production and annual merit increases, partially offset by seasonal declines in payroll taxes. Advertising and marketing expenses increased $862,000 resulting from targeted ad campaigns during the quarter. Management continues to focus on operating efficiency, and the efficiency ratio improved to 51.63% in the second quarter of 2025, compared with 52.83% in the first quarter of 2025 and 51.68% in the second quarter of 2024.
Income Tax Expense
The Company's effective tax rate for the second quarter of 2025 was 23.0%, compared with 22.1% for the first quarter of 2025. The increased rate resulted primarily from a reduction in excess benefits from the vesting of equity compensation awards and the impact of enacted state tax changes during the second quarter.
Balance Sheet Trends
Total assets at June 30, 2025 were $26.68 billion, compared with $26.51 billion at March 31, 2025 and $26.26 billion at December 31, 2024. During the second quarter of 2025, loans, net of unearned income, increased by $334.9 million, or 6.5% annualized, to end at $21.04 billion at June 30, 2025, compared with $20.71 billion at March 31, 2025 and $20.74 billion at December 31, 2024. Loans held for sale increased to $544.1 million at June 30, 2025 from $528.6 million at December 31, 2024. Debt securities available-for-sale amounted to $1.87 billion, compared with $1.94 billion at March 31, 2025 and $1.67 billion at December 31, 2024.
At June 30, 2025, total deposits amounted to $21.93 billion, compared with $21.72 billion at December 31, 2024. During the second quarter of 2025, deposits grew $20.3 million, with noninterest-bearing accounts increasing $55.7 million, brokered CDs increasing $81.8 million and interest-bearing demand accounts increasing $13.0 million, with such increases offset by decreases in retail CDs of $77.4 million, money market accounts of $38.6 million and savings accounts of $14.2 million. Noninterest-bearing accounts as a percentage of total deposits increased, such that at June 30, 2025, noninterest-bearing deposit accounts represented $6.80 billion, or 31.0% of total deposits, compared with $6.50 billion, or 29.9% of total deposits, at December 31, 2024.
Shareholders’ equity at June 30, 2025 totaled $3.92 billion, an increase of $166.2 million, or 4.4%, from December 31, 2024. The increase in shareholders’ equity was primarily the result of earnings of $197.8 million during the first six months of 2025 and an improvement in other comprehensive loss of $23.2 million resulting from changes in interest rates on the Company's investment portfolio, partially offset by dividends declared and share repurchases. Tangible book value per share(1) increased $2.73 per share, or 14.3% annualized, during the first six months of 2025 to $41.32 at June 30, 2025. Tangible common equity as a percentage of tangible assets was 11.09% at June 30, 2025, compared with 10.59% at the end of 2024. The Company repurchased 212,472 shares in the quarter ending June 30, 2025.
Subordinated Debt
In July 2025, the Company notified holders of its 5.875% Fixed-To-Floating Rate Subordinated Notes due 2030 that it would be redeeming the notes in full at the September 1, 2025 interest payment date. These notes, which currently total $74 million outstanding, bear interest at 8.22% and will be redeemed at par.
Credit Quality
During the second quarter of 2025, the Company recorded a provision for credit losses of $2.8 million, compared with a provision of $21.9 million in the first quarter of 2025. The allowance for credit losses on loans was 1.62% of loans at June 30, 2025, compared with 1.63% at the end of 2024. Nonperforming assets as a percentage of total assets decreased eight basis points to 0.36% during the quarter. Approximately $11.7 million, or 12.1%, of the nonperforming assets at June 30, 2025 were GNMA-guaranteed mortgage loans, which have minimal loss exposure. Excluding these government-guaranteed loans, nonperforming assets as a percentage of total assets decreased six basis points to 0.32% at June 30, 2025, compared with 0.38% at the end of the first quarter of 2025. The net charge-off ratio was 14 basis points for the second quarter of 2025, compared with 18 basis points in the first quarter of 2025.
Conference Call
The Company will host a teleconference at 9:00 a.m. Eastern time on Tuesday, July 29, 2025, to discuss the Company's results and answer appropriate questions. The conference call can be accessed by dialing 1-844-481-2939. The conference call ID is Ameris Bancorp. A replay of the call will be available beginning one hour after the end of the conference call until August 5, 2025. To listen to the replay, dial 1-877-344-7529. The conference replay access code is 6141708. The financial information discussed will be available on the Investor Relations page of the Ameris Bank website at ir.amerisbank.com. Participants also may listen to a live webcast of the presentation by visiting the link on the Investor Relations page of the Ameris Bank website.
About Ameris Bancorp
Ameris Bancorp is the parent of Ameris Bank, a state-chartered bank headquartered in Atlanta, Georgia. Ameris operates financial centers in five southeastern states and also serves consumer and business customers nationwide through select lending channels. Ameris manages $26.7 billion in assets as of June 30, 2025, 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.
(1) Considered non-GAAP financial measure - See reconciliation of GAAP to non-GAAP financial measures in tables 9A - 9D.
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This news release contains certain performance measures determined by methods other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The Company’s management uses these non-GAAP financial measures in its analysis of the Company’s performance. These measures are useful when evaluating the underlying performance and efficiency of the Company’s operations and balance sheet. The Company’s management believes that these non-GAAP financial measures provide a greater understanding of ongoing operations, enhance comparability of results with prior periods and demonstrate the effects of significant gains and charges in the current period. The Company’s management believes that investors may use these non-GAAP financial measures to evaluate the Company’s financial performance without the impact of unusual items that may obscure trends in the Company’s underlying performance. These disclosures should not be viewed as a substitute for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP financial measures that may be presented by other companies.
This news release contains forward-looking statements, as defined by federal securities laws, including, among other forward-looking statements, certain plans, expectations and goals. Words such as “may,” “believe,” “expect,” “anticipate,” “intend,” “will,” “should,” “plan,” “estimate,” “predict,” “continue” and “potential” or the negative of these terms or other comparable terminology, as well as similar expressions, are meant to identify forward-looking statements. The forward-looking statements in this news release are based on current expectations and are provided to assist in the understanding of potential future performance. Such forward-looking statements involve numerous assumptions, risks and uncertainties that may cause actual results to differ materially from those expressed or implied in any such statements, including, without limitation, the following: general competitive, economic, unemployment, political and market conditions and fluctuations, including real estate market conditions, and the effects of such conditions and fluctuations on the creditworthiness and payment behavior of borrowers, collateral values, asset recovery values and the value of investment securities; movements in interest rates and their impacts on net interest margin, investment security valuations and other performance measures; expectations on credit quality and performance; legislative and regulatory changes; changes in U.S. government trade, monetary and fiscal policies, including tariffs; competitive pressures on product pricing and services; fraud, theft or other misconduct impacting our customers or operations; cybersecurity risks, including data breaches, malware, ransomware and account takeover; the success and timing of our business strategies and plans; our outlook and long-term goals for future growth; and natural disasters, geopolitical events, acts of war or terrorism or other hostilities, public health crises and other catastrophic events beyond our control. For a discussion of some of the other risks and other factors that may cause such forward-looking statements to differ materially from actual results, please refer to the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and the Company's subsequently filed periodic reports and other filings. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise forward-looking statements.
AMERIS BANCORP AND SUBSIDIARIES |
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FINANCIAL TABLES |
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Financial Highlights |
Table 1 |
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Three Months Ended |
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Six Months Ended |
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Jun |
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Mar |
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Dec |
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Sep |
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Jun |
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Jun |
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Jun |
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(dollars in thousands except per share data) |
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2025 |
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2025 |
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2024 |
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2024 |
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2024 |
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2025 |
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2024 |
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EARNINGS |
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Net income |
$ |
109,834 |
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$ |
87,935 |
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$ |
94,376 |
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$ |
99,212 |
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$ |
90,785 |
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$ |
197,769 |
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$ |
165,097 |
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Adjusted net income(1) |
$ |
109,444 |
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$ |
88,044 |
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$ |
95,078 |
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$ |
95,187 |
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$ |
80,763 |
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$ |
197,488 |
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$ |
156,375 |
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COMMON SHARE DATA |
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Earnings per share available to common shareholders |
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Basic |
$ |
1.60 |
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$ |
1.28 |
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|
$ |
1.37 |
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$ |
1.44 |
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$ |
1.32 |
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$ |
2.88 |
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$ |
2.40 |
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Diluted |
$ |
1.60 |
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$ |
1.27 |
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$ |
1.37 |
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$ |
1.44 |
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$ |
1.32 |
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$ |
2.87 |
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$ |
2.39 |
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Adjusted diluted EPS(1) |
$ |
1.59 |
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$ |
1.28 |
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$ |
1.38 |
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$ |
1.38 |
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$ |
1.17 |
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$ |
2.87 |
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$ |
2.27 |
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Cash dividends per share |
$ |
0.20 |
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$ |
0.20 |
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$ |
0.15 |
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$ |
0.15 |
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$ |
0.15 |
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$ |
0.40 |
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$ |
0.30 |
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Book value per share (period end) |
$ |
57.02 |
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$ |
55.49 |
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$ |
54.32 |
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$ |
53.30 |
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$ |
51.64 |
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$ |
57.02 |
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$ |
51.64 |
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Tangible book value per share (period end)(1) |
$ |
41.32 |
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$ |
39.78 |
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$ |
38.59 |
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$ |
37.51 |
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$ |
35.79 |
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$ |
41.32 |
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$ |
35.79 |
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Weighted average number of shares |
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Basic |
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68,594,608 |
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68,785,458 |
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68,799,464 |
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68,798,093 |
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68,824,150 |
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68,689,506 |
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68,818,618 |
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Diluted |
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68,796,577 |
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69,030,331 |
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69,128,946 |
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69,066,298 |
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69,013,834 |
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68,912,750 |
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69,010,010 |
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Period end number of shares |
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68,711,043 |
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68,910,924 |
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69,068,609 |
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69,067,019 |
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69,066,573 |
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68,711,043 |
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69,066,573 |
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Market data |
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High intraday price |
$ |
65.43 |
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$ |
68.85 |
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$ |
74.56 |
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$ |
65.40 |
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$ |
51.18 |
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$ |
68.85 |
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$ |
53.99 |
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Low intraday price |
$ |
48.27 |
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$ |
55.32 |
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$ |
59.12 |
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$ |
48.21 |
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$ |
44.23 |
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$ |
48.27 |
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$ |
44.00 |
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Period end closing price |
$ |
64.70 |
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$ |
57.57 |
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$ |
62.57 |
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$ |
62.39 |
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$ |
50.35 |
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$ |
64.70 |
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$ |
50.35 |
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Average daily volume |
|
416,355 |
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430,737 |
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384,406 |
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379,896 |
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|
301,784 |
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|
423,428 |
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353,985 |
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PERFORMANCE RATIOS |
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Return on average assets |
|
1.65 |
% |
|
|
1.36 |
% |
|
|
1.42 |
% |
|
|
1.49 |
% |
|
|
1.41 |
% |
|
|
1.51 |
% |
|
|
1.30 |
% |
Adjusted return on average assets(1) |
|
1.64 |
% |
|
|
1.36 |
% |
|
|
1.43 |
% |
|
|
1.43 |
% |
|
|
1.25 |
% |
|
|
1.50 |
% |
|
|
1.23 |
% |
Return on average common equity |
|
11.40 |
% |
|
|
9.39 |
% |
|
|
10.09 |
% |
|
|
10.91 |
% |
|
|
10.34 |
% |
|
|
10.41 |
% |
|
|
9.49 |
% |
Adjusted return on average tangible common equity(1) |
|
15.76 |
% |
|
|
13.16 |
% |
|
|
14.37 |
% |
|
|
14.99 |
% |
|
|
13.35 |
% |
|
|
14.48 |
% |
|
|
13.12 |
% |
Earning asset yield (TE) |
|
5.64 |
% |
|
|
5.61 |
% |
|
|
5.67 |
% |
|
|
5.81 |
% |
|
|
5.86 |
% |
|
|
5.63 |
% |
|
|
5.79 |
% |
Total cost of funds |
|
2.06 |
% |
|
|
2.06 |
% |
|
|
2.22 |
% |
|
|
2.50 |
% |
|
|
2.48 |
% |
|
|
2.06 |
% |
|
|
2.44 |
% |
Net interest margin (TE) |
|
3.77 |
% |
|
|
3.73 |
% |
|
|
3.64 |
% |
|
|
3.51 |
% |
|
|
3.58 |
% |
|
|
3.75 |
% |
|
|
3.54 |
% |
Efficiency ratio |
|
51.63 |
% |
|
|
52.83 |
% |
|
|
52.26 |
% |
|
|
53.49 |
% |
|
|
51.68 |
% |
|
|
52.22 |
% |
|
|
53.54 |
% |
Adjusted efficiency ratio (TE)(1) |
|
51.58 |
% |
|
|
52.62 |
% |
|
|
51.82 |
% |
|
|
54.25 |
% |
|
|
55.00 |
% |
|
|
52.09 |
% |
|
|
54.79 |
% |
|
|
|
|
|
|
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CAPITAL ADEQUACY (period end) |
|
|
|
|
|
|
|
|
|
|
|
|
|
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Shareholders' equity to assets |
|
14.68 |
% |
|
|
14.42 |
% |
|
|
14.28 |
% |
|
|
13.94 |
% |
|
|
13.45 |
% |
|
|
14.68 |
% |
|
|
13.45 |
% |
Tangible common equity to tangible assets(1) |
|
11.09 |
% |
|
|
10.78 |
% |
|
|
10.59 |
% |
|
|
10.24 |
% |
|
|
9.72 |
% |
|
|
11.09 |
% |
|
|
9.72 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
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OTHER DATA (period end) |
|
|
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|
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|
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|
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Full time equivalent employees |
|
|
|
|
|
|
|
|
|
|
|
|
|
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Banking Division |
|
2,036 |
|
|
|
2,045 |
|
|
|
2,021 |
|
|
|
2,056 |
|
|
|
2,073 |
|
|
|
2,036 |
|
|
|
2,073 |
|
Retail Mortgage Division |
|
550 |
|
|
|
577 |
|
|
|
585 |
|
|
|
592 |
|
|
|
595 |
|
|
|
550 |
|
|
|
595 |
|
Warehouse Lending Division |
|
8 |
|
|
|
7 |
|
|
|
8 |
|
|
|
9 |
|
|
|
9 |
|
|
|
8 |
|
|
|
9 |
|
Premium Finance Division |
|
78 |
|
|
|
81 |
|
|
|
77 |
|
|
|
76 |
|
|
|
74 |
|
|
|
78 |
|
|
|
74 |
|
Total Ameris Bancorp FTE headcount |
|
2,672 |
|
|
|
2,710 |
|
|
|
2,691 |
|
|
|
2,733 |
|
|
|
2,751 |
|
|
|
2,672 |
|
|
|
2,751 |
|
|
|
|
|
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Branch locations |
|
164 |
|
|
|
164 |
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|
|
164 |
|
|
|
164 |
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|
|
164 |
|
|
|
164 |
|
|
|
164 |
|
Deposits per branch location |
$ |
133,736 |
|
|
$ |
133,612 |
|
|
$ |
132,454 |
|
|
$ |
133,410 |
|
|
$ |
130,757 |
|
|
$ |
133,736 |
|
|
$ |
130,757 |
|
(1)Considered non-GAAP financial measure - See reconciliation of GAAP to non-GAAP financial measures in tables 9A - 9D |
|||||||||||||||||||||||||||
|
|
AMERIS BANCORP AND SUBSIDIARIES |
||||||||||||||||||||||||||
FINANCIAL TABLES |
||||||||||||||||||||||||||
|
||||||||||||||||||||||||||
Income Statement |
Table 2 |
|||||||||||||||||||||||||
|
Three Months Ended |
|
Six Months Ended |
|||||||||||||||||||||||
|
Jun |
|
Mar |
|
Dec |
|
Sep |
|
Jun |
|
Jun |
|
Jun |
|||||||||||||
(dollars in thousands except per share data) |
|
2025 |
|
|
|
2025 |
|
|
2024 |
|
|
|
2024 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
Interest income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Interest and fees on loans |
$ |
315,893 |
|
|
$ |
304,168 |
|
$ |
318,843 |
|
|
$ |
325,622 |
|
|
$ |
317,664 |
|
|
$ |
620,061 |
|
|
$ |
621,057 |
|
Interest on taxable securities |
|
20,696 |
|
|
|
18,492 |
|
|
15,923 |
|
|
|
15,555 |
|
|
|
16,948 |
|
|
|
39,188 |
|
|
|
30,040 |
|
Interest on nontaxable securities |
|
334 |
|
|
|
329 |
|
|
337 |
|
|
|
336 |
|
|
|
335 |
|
|
|
663 |
|
|
|
665 |
|
Interest on deposits in other banks |
|
10,715 |
|
|
|
10,789 |
|
|
11,260 |
|
|
|
13,633 |
|
|
|
12,376 |
|
|
|
21,504 |
|
|
|
25,013 |
|
Total interest income |
|
347,638 |
|
|
|
333,778 |
|
|
346,363 |
|
|
|
355,146 |
|
|
|
347,323 |
|
|
|
681,416 |
|
|
|
676,775 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Interest expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Interest on deposits |
|
106,796 |
|
|
|
105,215 |
|
|
115,556 |
|
|
|
129,698 |
|
|
|
121,245 |
|
|
|
212,011 |
|
|
|
239,419 |
|
Interest on other borrowings |
|
9,029 |
|
|
|
6,724 |
|
|
8,986 |
|
|
|
11,388 |
|
|
|
14,157 |
|
|
|
15,753 |
|
|
|
24,047 |
|
Total interest expense |
|
115,825 |
|
|
|
111,939 |
|
|
124,542 |
|
|
|
141,086 |
|
|
|
135,402 |
|
|
|
227,764 |
|
|
|
263,466 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net interest income |
|
231,813 |
|
|
|
221,839 |
|
|
221,821 |
|
|
|
214,060 |
|
|
|
211,921 |
|
|
|
453,652 |
|
|
|
413,309 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Provision for loan losses |
|
3,110 |
|
|
|
16,519 |
|
|
12,657 |
|
|
|
6,313 |
|
|
|
25,348 |
|
|
|
19,629 |
|
|
|
50,871 |
|
Provision for unfunded commitments |
|
(335 |
) |
|
|
5,373 |
|
|
148 |
|
|
|
(204 |
) |
|
|
(6,570 |
) |
|
|
5,038 |
|
|
|
(10,992 |
) |
Provision for other credit losses |
|
(3 |
) |
|
|
— |
|
|
3 |
|
|
|
(2 |
) |
|
|
(5 |
) |
|
|
(3 |
) |
|
|
(1 |
) |
Provision for credit losses |
|
2,772 |
|
|
|
21,892 |
|
|
12,808 |
|
|
|
6,107 |
|
|
|
18,773 |
|
|
|
24,664 |
|
|
|
39,878 |
|
Net interest income after provision for credit losses |
|
229,041 |
|
|
|
199,947 |
|
|
209,013 |
|
|
|
207,953 |
|
|
|
193,148 |
|
|
|
428,988 |
|
|
|
373,431 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Noninterest income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Service charges on deposit accounts |
|
13,493 |
|
|
|
13,133 |
|
|
13,544 |
|
|
|
12,918 |
|
|
|
12,672 |
|
|
|
26,626 |
|
|
|
24,431 |
|
Mortgage banking activity |
|
39,221 |
|
|
|
35,254 |
|
|
36,699 |
|
|
|
37,947 |
|
|
|
46,399 |
|
|
|
74,475 |
|
|
|
85,829 |
|
Other service charges, commissions and fees |
|
1,158 |
|
|
|
1,109 |
|
|
1,182 |
|
|
|
1,163 |
|
|
|
1,211 |
|
|
|
2,267 |
|
|
|
2,413 |
|
Gain (loss) on securities |
|
— |
|
|
|
40 |
|
|
(16 |
) |
|
|
(8 |
) |
|
|
12,335 |
|
|
|
40 |
|
|
|
12,328 |
|
Equipment finance activity |
|
6,572 |
|
|
|
6,698 |
|
|
5,947 |
|
|
|
5,398 |
|
|
|
4,983 |
|
|
|
13,270 |
|
|
|
10,319 |
|
Other noninterest income |
|
8,467 |
|
|
|
7,789 |
|
|
11,603 |
|
|
|
12,291 |
|
|
|
11,111 |
|
|
|
16,256 |
|
|
|
19,269 |
|
Total noninterest income |
|
68,911 |
|
|
|
64,023 |
|
|
68,959 |
|
|
|
69,709 |
|
|
|
88,711 |
|
|
|
132,934 |
|
|
|
154,589 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Noninterest expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Salaries and employee benefits |
|
89,308 |
|
|
|
86,615 |
|
|
87,810 |
|
|
|
88,700 |
|
|
|
88,201 |
|
|
|
175,923 |
|
|
|
171,131 |
|
Occupancy and equipment |
|
11,401 |
|
|
|
10,677 |
|
|
11,624 |
|
|
|
11,716 |
|
|
|
12,559 |
|
|
|
22,078 |
|
|
|
25,444 |
|
Data processing and communications expenses |
|
15,366 |
|
|
|
14,855 |
|
|
14,631 |
|
|
|
15,221 |
|
|
|
15,193 |
|
|
|
30,221 |
|
|
|
29,847 |
|
Credit resolution-related expenses(1) |
|
657 |
|
|
|
765 |
|
|
1,271 |
|
|
|
(110 |
) |
|
|
840 |
|
|
|
1,422 |
|
|
|
1,326 |
|
Advertising and marketing |
|
3,745 |
|
|
|
2,883 |
|
|
2,730 |
|
|
|
3,959 |
|
|
|
3,456 |
|
|
|
6,628 |
|
|
|
5,923 |
|
Amortization of intangible assets |
|
4,076 |
|
|
|
4,103 |
|
|
4,180 |
|
|
|
4,180 |
|
|
|
4,407 |
|
|
|
8,179 |
|
|
|
8,829 |
|
Other noninterest expenses |
|
30,707 |
|
|
|
31,136 |
|
|
29,703 |
|
|
|
28,111 |
|
|
|
30,701 |
|
|
|
61,843 |
|
|
|
61,568 |
|
Total noninterest expense |
|
155,260 |
|
|
|
151,034 |
|
|
151,949 |
|
|
|
151,777 |
|
|
|
155,357 |
|
|
|
306,294 |
|
|
|
304,068 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Income before income tax expense |
|
142,692 |
|
|
|
112,936 |
|
|
126,023 |
|
|
|
125,885 |
|
|
|
126,502 |
|
|
|
255,628 |
|
|
|
223,952 |
|
Income tax expense |
|
32,858 |
|
|
|
25,001 |
|
|
31,647 |
|
|
|
26,673 |
|
|
|
35,717 |
|
|
|
57,859 |
|
|
|
58,855 |
|
Net income |
$ |
109,834 |
|
|
$ |
87,935 |
|
$ |
94,376 |
|
|
$ |
99,212 |
|
|
$ |
90,785 |
|
|
$ |
197,769 |
|
|
$ |
165,097 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Diluted earnings per common share |
$ |
1.60 |
|
|
$ |
1.27 |
|
$ |
1.37 |
|
|
$ |
1.44 |
|
|
$ |
1.32 |
|
|
$ |
2.87 |
|
|
$ |
2.39 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
(1) Includes expenses associated with problem loans and OREO, as well as OREO losses and writedowns. |
|
|
|
|
||||||||||||||||||||||
AMERIS BANCORP AND SUBSIDIARIES |
|||||||||||||||||||
FINANCIAL TABLES |
|||||||||||||||||||
|
|||||||||||||||||||
Period End Balance Sheet |
Table 3 |
||||||||||||||||||
|
Jun |
|
Mar |
|
Dec |
|
Sep |
|
Jun |
||||||||||
(dollars in thousands) |
|
2025 |
|
|
|
2025 |
|
|
|
2024 |
|
|
|
2024 |
|
|
|
2024 |
|
Assets |
|
|
|
|
|
|
|
|
|
||||||||||
Cash and due from banks |
$ |
249,676 |
|
|
$ |
253,289 |
|
|
$ |
244,980 |
|
|
$ |
231,515 |
|
|
$ |
257,297 |
|
Interest-bearing deposits in banks |
|
920,594 |
|
|
|
1,039,111 |
|
|
|
975,397 |
|
|
|
1,127,641 |
|
|
|
1,104,897 |
|
Debt securities available-for-sale, at fair value |
|
1,871,298 |
|
|
|
1,943,011 |
|
|
|
1,671,260 |
|
|
|
1,441,552 |
|
|
|
1,531,047 |
|
Debt securities held-to-maturity, at amortized cost |
|
176,487 |
|
|
|
173,757 |
|
|
|
164,677 |
|
|
|
161,220 |
|
|
|
148,538 |
|
Other investments |
|
69,910 |
|
|
|
65,630 |
|
|
|
66,298 |
|
|
|
63,899 |
|
|
|
96,613 |
|
Loans held for sale |
|
544,091 |
|
|
|
545,388 |
|
|
|
528,599 |
|
|
|
553,379 |
|
|
|
570,180 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Loans, net of unearned income |
|
21,041,497 |
|
|
|
20,706,644 |
|
|
|
20,739,906 |
|
|
|
20,964,981 |
|
|
|
20,992,603 |
|
Allowance for credit losses |
|
(341,567 |
) |
|
|
(345,555 |
) |
|
|
(338,084 |
) |
|
|
(334,457 |
) |
|
|
(336,218 |
) |
Loans, net |
|
20,699,930 |
|
|
|
20,361,089 |
|
|
|
20,401,822 |
|
|
|
20,630,524 |
|
|
|
20,656,385 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Other real estate owned |
|
1,825 |
|
|
|
863 |
|
|
|
2,433 |
|
|
|
9,482 |
|
|
|
2,213 |
|
Premises and equipment, net |
|
211,434 |
|
|
|
207,895 |
|
|
|
209,460 |
|
|
|
210,931 |
|
|
|
213,255 |
|
Goodwill |
|
1,015,646 |
|
|
|
1,015,646 |
|
|
|
1,015,646 |
|
|
|
1,015,646 |
|
|
|
1,015,646 |
|
Other intangible assets, net |
|
62,582 |
|
|
|
66,658 |
|
|
|
70,761 |
|
|
|
74,941 |
|
|
|
79,120 |
|
Cash value of bank owned life insurance |
|
414,381 |
|
|
|
410,890 |
|
|
|
408,574 |
|
|
|
460,699 |
|
|
|
376,458 |
|
Other assets |
|
442,299 |
|
|
|
431,713 |
|
|
|
502,143 |
|
|
|
418,353 |
|
|
|
469,079 |
|
Total assets |
$ |
26,680,153 |
|
|
$ |
26,514,940 |
|
|
$ |
26,262,050 |
|
|
$ |
26,399,782 |
|
|
$ |
26,520,728 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Liabilities |
|
|
|
|
|
|
|
|
|
||||||||||
Deposits |
|
|
|
|
|
|
|
|
|
||||||||||
Noninterest-bearing |
$ |
6,800,519 |
|
|
$ |
6,744,781 |
|
|
$ |
6,498,293 |
|
|
$ |
6,670,320 |
|
|
$ |
6,649,220 |
|
Interest-bearing |
|
15,132,156 |
|
|
|
15,167,628 |
|
|
|
15,224,155 |
|
|
|
15,208,945 |
|
|
|
14,794,923 |
|
Total deposits |
|
21,932,675 |
|
|
|
21,912,409 |
|
|
|
21,722,448 |
|
|
|
21,879,265 |
|
|
|
21,444,143 |
|
Other borrowings |
|
376,700 |
|
|
|
276,744 |
|
|
|
291,788 |
|
|
|
346,446 |
|
|
|
946,413 |
|
Subordinated deferrable interest debentures |
|
133,306 |
|
|
|
132,807 |
|
|
|
132,309 |
|
|
|
131,811 |
|
|
|
131,312 |
|
Other liabilities |
|
319,794 |
|
|
|
369,178 |
|
|
|
363,983 |
|
|
|
360,892 |
|
|
|
432,246 |
|
Total liabilities |
|
22,762,475 |
|
|
|
22,691,138 |
|
|
|
22,510,528 |
|
|
|
22,718,414 |
|
|
|
22,954,114 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
||||||||||
Preferred stock |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Common stock |
|
72,897 |
|
|
|
72,885 |
|
|
|
72,699 |
|
|
|
72,698 |
|
|
|
72,697 |
|
Capital stock |
|
1,964,896 |
|
|
|
1,961,732 |
|
|
|
1,958,642 |
|
|
|
1,954,532 |
|
|
|
1,950,846 |
|
Retained earnings |
|
2,023,493 |
|
|
|
1,927,489 |
|
|
|
1,853,428 |
|
|
|
1,772,989 |
|
|
|
1,684,218 |
|
Accumulated other comprehensive loss, net of tax |
|
(6,886 |
) |
|
|
(14,430 |
) |
|
|
(30,119 |
) |
|
|
(15,724 |
) |
|
|
(38,020 |
) |
Treasury stock |
|
(136,722 |
) |
|
|
(123,874 |
) |
|
|
(103,128 |
) |
|
|
(103,127 |
) |
|
|
(103,127 |
) |
Total shareholders' equity |
|
3,917,678 |
|
|
|
3,823,802 |
|
|
|
3,751,522 |
|
|
|
3,681,368 |
|
|
|
3,566,614 |
|
Total liabilities and shareholders' equity |
$ |
26,680,153 |
|
|
$ |
26,514,940 |
|
|
$ |
26,262,050 |
|
|
$ |
26,399,782 |
|
|
$ |
26,520,728 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Other Data |
|
|
|
|
|
|
|
|
|
||||||||||
Earning assets |
$ |
24,623,877 |
|
|
$ |
24,473,541 |
|
|
$ |
24,146,137 |
|
|
$ |
24,312,672 |
|
|
$ |
24,443,878 |
|
Intangible assets |
|
1,078,228 |
|
|
|
1,082,304 |
|
|
|
1,086,407 |
|
|
|
1,090,587 |
|
|
|
1,094,766 |
|
Interest-bearing liabilities |
|
15,642,162 |
|
|
|
15,577,179 |
|
|
|
15,648,252 |
|
|
|
15,687,202 |
|
|
|
15,872,648 |
|
Average assets |
|
26,757,322 |
|
|
|
26,229,423 |
|
|
|
26,444,894 |
|
|
|
26,442,984 |
|
|
|
25,954,808 |
|
Average common shareholders' equity |
|
3,865,031 |
|
|
|
3,798,149 |
|
|
|
3,719,888 |
|
|
|
3,618,052 |
|
|
|
3,530,869 |
|
AMERIS BANCORP AND SUBSIDIARIES |
|||||||||||||||||||||||||||
FINANCIAL TABLES |
|||||||||||||||||||||||||||
|
|
|
|
|
|||||||||||||||||||||||
Asset Quality Information |
Table 4 |
||||||||||||||||||||||||||
|
Three Months Ended |
|
Six Months Ended |
||||||||||||||||||||||||
|
Jun |
|
Mar |
|
Dec |
|
Sep |
|
Jun |
|
Jun |
|
Jun |
||||||||||||||
(dollars in thousands) |
|
2025 |
|
|
|
2025 |
|
|
|
2024 |
|
|
|
2024 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
Allowance for Credit Losses |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Balance at beginning of period |
$ |
381,507 |
|
$ |
368,663 |
|
|
$ |
364,885 |
|
|
$ |
366,852 |
|
|
$ |
357,232 |
|
|
$ |
368,663 |
|
|
$ |
348,727 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Provision for loan losses |
|
3,110 |
|
|
|
16,519 |
|
|
|
12,657 |
|
|
|
6,313 |
|
|
|
25,348 |
|
|
|
19,629 |
|
|
|
50,871 |
|
Provision for unfunded commitments |
|
(335 |
) |
|
|
5,373 |
|
|
|
148 |
|
|
|
(204 |
) |
|
|
(6,570 |
) |
|
|
5,038 |
|
|
|
(10,992 |
) |
Provision for other credit losses |
|
(3 |
) |
|
|
— |
|
|
|
3 |
|
|
|
(2 |
) |
|
|
(5 |
) |
|
|
(3 |
) |
|
|
(1 |
) |
Provision for credit losses |
|
2,772 |
|
|
|
21,892 |
|
|
|
12,808 |
|
|
|
6,107 |
|
|
|
18,773 |
|
|
|
24,664 |
|
|
|
39,878 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Charge-offs |
|
14,227 |
|
|
|
15,383 |
|
|
|
17,460 |
|
|
|
15,352 |
|
|
|
16,845 |
|
|
|
29,610 |
|
|
|
35,302 |
|
Recoveries |
|
7,129 |
|
|
|
6,335 |
|
|
|
8,430 |
|
|
|
7,278 |
|
|
|
7,692 |
|
|
|
13,464 |
|
|
|
13,549 |
|
Net charge-offs (recoveries) |
|
7,098 |
|
|
|
9,048 |
|
|
|
9,030 |
|
|
|
8,074 |
|
|
|
9,153 |
|
|
|
16,146 |
|
|
|
21,753 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Ending balance |
$ |
377,181 |
|
|
$ |
381,507 |
|
|
$ |
368,663 |
|
|
$ |
364,885 |
|
|
$ |
366,852 |
|
|
$ |
377,181 |
|
|
$ |
366,852 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Allowance for loan losses |
$ |
341,567 |
|
|
$ |
345,555 |
|
|
$ |
338,084 |
|
|
$ |
334,457 |
|
|
$ |
336,218 |
|
|
$ |
341,567 |
|
|
$ |
336,218 |
|
Allowance for unfunded commitments |
|
35,548 |
|
|
|
35,883 |
|
|
|
30,510 |
|
|
|
30,362 |
|
|
|
30,566 |
|
|
|
35,548 |
|
|
|
30,566 |
|
Allowance for other credit losses |
|
66 |
|
|
|
69 |
|
|
|
69 |
|
|
|
66 |
|
|
|
68 |
|
|
|
66 |
|
|
|
68 |
|
Total allowance for credit losses |
$ |
377,181 |
|
|
$ |
381,507 |
|
|
$ |
368,663 |
|
|
$ |
364,885 |
|
|
$ |
366,852 |
|
|
$ |
377,181 |
|
|
$ |
366,852 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Non-Performing Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Nonaccrual portfolio loans |
$ |
75,286 |
|
|
$ |
86,229 |
|
|
$ |
90,206 |
|
|
$ |
87,339 |
|
|
$ |
85,878 |
|
|
$ |
75,286 |
|
|
$ |
85,878 |
|
Other real estate owned |
|
1,825 |
|
|
|
863 |
|
|
|
2,433 |
|
|
|
9,482 |
|
|
|
2,213 |
|
|
|
1,825 |
|
|
|
2,213 |
|
Repossessed assets |
|
2 |
|
|
|
— |
|
|
|
9 |
|
|
|
19 |
|
|
|
22 |
|
|
|
2 |
|
|
|
22 |
|
Accruing loans delinquent 90 days or more |
|
8,415 |
|
|
|
14,930 |
|
|
|
17,733 |
|
|
|
12,234 |
|
|
|
15,909 |
|
|
|
8,415 |
|
|
|
15,909 |
|
Non-performing portfolio assets |
$ |
85,528 |
|
|
$ |
102,022 |
|
|
$ |
110,381 |
|
|
$ |
109,074 |
|
|
$ |
104,022 |
|
|
$ |
85,528 |
|
|
$ |
104,022 |
|
Serviced GNMA-guaranteed mortgage nonaccrual loans |
|
11,733 |
|
|
|
13,441 |
|
|
|
12,012 |
|
|
|
8,168 |
|
|
|
93,520 |
|
|
|
11,733 |
|
|
|
93,520 |
|
Total non-performing assets |
$ |
97,261 |
|
|
$ |
115,463 |
|
|
$ |
122,393 |
|
|
$ |
117,242 |
|
|
$ |
197,542 |
|
|
$ |
97,261 |
|
|
$ |
197,542 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Asset Quality Ratios |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Non-performing portfolio assets as a percent of total assets |
|
0.32 |
% |
|
|
0.38 |
% |
|
|
0.42 |
% |
|
|
0.41 |
% |
|
|
0.39 |
% |
|
|
0.32 |
% |
|
|
0.39 |
% |
Total non-performing assets as a percent of total assets |
|
0.36 |
% |
|
|
0.44 |
% |
|
|
0.47 |
% |
|
|
0.44 |
% |
|
|
0.74 |
% |
|
|
0.36 |
% |
|
|
0.74 |
% |
Net charge-offs as a percent of average loans (annualized) |
|
0.14 |
% |
|
|
0.18 |
% |
|
|
0.17 |
% |
|
|
0.15 |
% |
|
|
0.18 |
% |
|
|
0.16 |
% |
|
|
0.21 |
% |
AMERIS BANCORP AND SUBSIDIARIES |
||||||||||||||
FINANCIAL TABLES |
||||||||||||||
|
||||||||||||||
Loan Information |
Table 5 |
|||||||||||||
|
Jun |
|
Mar |
|
Dec |
|
Sep |
|
Jun |
|||||
(dollars in thousands) |
|
2025 |
|
|
2025 |
|
|
2024 |
|
|
2024 |
|
|
2024 |
Loans by Type |
|
|
|
|
|
|
|
|
|
|||||
Commercial and industrial |
$ |
3,184,211 |
|
$ |
3,075,971 |
|
$ |
2,953,135 |
|
$ |
2,949,957 |
|
$ |
2,860,973 |
Consumer |
|
209,990 |
|
|
213,902 |
|
|
221,735 |
|
|
221,201 |
|
|
234,122 |
Mortgage warehouse |
|
1,092,475 |
|
|
891,412 |
|
|
965,053 |
|
|
985,910 |
|
|
1,070,921 |
Municipal |
|
436,759 |
|
|
429,227 |
|
|
441,408 |
|
|
449,561 |
|
|
454,967 |
Premium Finance |
|
1,294,293 |
|
|
1,176,309 |
|
|
1,155,614 |
|
|
1,246,452 |
|
|
1,151,261 |
Real estate - construction and development |
|
1,485,842 |
|
|
1,842,431 |
|
|
1,998,506 |
|
|
2,232,114 |
|
|
2,336,987 |
Real estate - commercial and farmland |
|
8,877,750 |
|
|
8,574,626 |
|
|
8,445,958 |
|
|
8,249,981 |
|
|
8,103,634 |
Real estate - residential |
|
4,460,177 |
|
|
4,502,766 |
|
|
4,558,497 |
|
|
4,629,805 |
|
|
4,779,738 |
Total loans |
$ |
21,041,497 |
|
$ |
20,706,644 |
|
$ |
20,739,906 |
|
$ |
20,964,981 |
|
$ |
20,992,603 |
|
|
|
|
|
|
|
|
|
|
|||||
Loans by Risk Grade |
|
|
|
|
|
|
|
|
|
|||||
Pass |
$ |
20,820,888 |
|
$ |
20,468,496 |
|
$ |
20,457,340 |
|
$ |
20,676,342 |
|
$ |
20,623,416 |
Other assets especially mentioned |
|
66,677 |
|
|
73,783 |
|
|
110,936 |
|
|
124,479 |
|
|
115,477 |
Substandard |
|
153,932 |
|
|
164,365 |
|
|
171,630 |
|
|
164,160 |
|
|
253,710 |
Total loans |
$ |
21,041,497 |
|
$ |
20,706,644 |
|
$ |
20,739,906 |
|
$ |
20,964,981 |
|
$ |
20,992,603 |
AMERIS BANCORP AND SUBSIDIARIES |
||||||||||||||||||||
FINANCIAL TABLES |
||||||||||||||||||||
|
|
|
|
|
||||||||||||||||
Average Balances |
Table 6 |
|||||||||||||||||||
|
Three Months Ended |
|
Six Months Ended |
|||||||||||||||||
|
Jun |
|
Mar |
|
Dec |
|
Sep |
|
Jun |
|
Jun |
|
Jun |
|||||||
(dollars in thousands) |
|
2025 |
|
|
2025 |
|
|
2024 |
|
|
2024 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
Earning Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Interest-bearing deposits in banks |
$ |
951,851 |
|
$ |
980,164 |
|
$ |
899,162 |
|
$ |
997,308 |
|
$ |
899,866 |
|
$ |
965,930 |
|
$ |
911,855 |
Debt securities - taxable |
|
2,117,596 |
|
|
1,998,226 |
|
|
1,761,984 |
|
|
1,733,418 |
|
|
1,663,841 |
|
|
2,058,241 |
|
|
1,631,773 |
Debt securities - nontaxable |
|
41,299 |
|
|
41,391 |
|
|
41,494 |
|
|
41,496 |
|
|
41,396 |
|
|
41,344 |
|
|
41,341 |
Loans held for sale |
|
730,770 |
|
|
565,531 |
|
|
795,904 |
|
|
575,461 |
|
|
491,000 |
|
|
648,607 |
|
|
407,175 |
Loans |
|
20,928,825 |
|
|
20,620,777 |
|
|
20,868,216 |
|
|
21,023,629 |
|
|
20,820,361 |
|
|
20,775,652 |
|
|
20,570,520 |
Total Earning Assets |
$ |
24,770,341 |
|
$ |
24,206,089 |
|
$ |
24,366,760 |
|
$ |
24,371,312 |
|
$ |
23,916,464 |
|
$ |
24,489,774 |
|
$ |
23,562,664 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Deposits |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Noninterest-bearing deposits |
$ |
6,766,557 |
|
$ |
6,522,784 |
|
$ |
6,684,851 |
|
$ |
6,622,952 |
|
$ |
6,558,427 |
|
$ |
6,645,340 |
|
$ |
6,480,864 |
NOW accounts |
|
3,939,802 |
|
|
3,988,458 |
|
|
3,888,404 |
|
|
3,753,528 |
|
|
3,824,538 |
|
|
3,963,995 |
|
|
3,827,257 |
MMDA |
|
6,918,382 |
|
|
6,911,554 |
|
|
6,864,265 |
|
|
6,508,770 |
|
|
6,251,719 |
|
|
6,914,988 |
|
|
6,102,054 |
Savings accounts |
|
766,331 |
|
|
767,148 |
|
|
761,980 |
|
|
765,909 |
|
|
781,588 |
|
|
766,738 |
|
|
788,738 |
Retail CDs |
|
2,393,402 |
|
|
2,436,974 |
|
|
2,474,804 |
|
|
2,478,875 |
|
|
2,430,416 |
|
|
2,415,067 |
|
|
2,404,547 |
Brokered CDs |
|
1,145,043 |
|
|
962,768 |
|
|
1,057,808 |
|
|
1,493,352 |
|
|
1,167,174 |
|
|
1,054,409 |
|
|
1,274,278 |
Total Deposits |
|
21,929,517 |
|
|
21,589,686 |
|
|
21,732,112 |
|
|
21,623,386 |
|
|
21,013,862 |
|
|
21,760,537 |
|
|
20,877,738 |
Non-Deposit Funding |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Federal funds purchased and securities sold under agreements to repurchase |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
1 |
|
|
— |
|
|
— |
FHLB advances |
|
326,054 |
|
|
149,537 |
|
|
215,116 |
|
|
358,332 |
|
|
548,251 |
|
|
238,283 |
|
|
383,920 |
Other borrowings |
|
193,492 |
|
|
193,494 |
|
|
279,961 |
|
|
298,073 |
|
|
307,449 |
|
|
193,493 |
|
|
307,829 |
Subordinated deferrable interest debentures |
|
133,043 |
|
|
132,544 |
|
|
132,048 |
|
|
131,547 |
|
|
131,050 |
|
|
132,795 |
|
|
130,801 |
Total Non-Deposit Funding |
|
652,589 |
|
|
475,575 |
|
|
627,125 |
|
|
787,952 |
|
|
986,751 |
|
|
564,571 |
|
|
822,550 |
Total Funding |
$ |
22,582,106 |
|
$ |
22,065,261 |
|
$ |
22,359,237 |
|
$ |
22,411,338 |
|
$ |
22,000,613 |
|
$ |
22,325,108 |
|
$ |
21,700,288 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
AMERIS BANCORP AND SUBSIDIARIES |
||||||||||||||||||||
FINANCIAL TABLES |
||||||||||||||||||||
|
||||||||||||||||||||
Interest Income and Interest Expense (TE) |
Table 7 |
|||||||||||||||||||
|
Three Months Ended |
|
Six Months Ended |
|||||||||||||||||
|
Jun |
|
Mar |
|
Dec |
|
Sep |
|
Jun |
|
Jun |
|
Jun |
|||||||
(dollars in thousands) |
|
2025 |
|
|
2025 |
|
|
2024 |
|
|
2024 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
Interest Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Interest-bearing deposits in banks |
$ |
10,715 |
|
$ |
10,789 |
|
$ |
11,260 |
|
$ |
13,633 |
|
$ |
12,376 |
|
$ |
21,504 |
|
$ |
25,013 |
Debt securities - taxable |
|
20,696 |
|
|
18,492 |
|
|
15,923 |
|
|
15,555 |
|
|
16,948 |
|
|
39,188 |
|
|
30,040 |
Debt securities - nontaxable (TE) |
|
423 |
|
|
416 |
|
|
427 |
|
|
426 |
|
|
423 |
|
|
839 |
|
|
841 |
Loans held for sale |
|
11,578 |
|
|
9,045 |
|
|
11,853 |
|
|
9,142 |
|
|
8,189 |
|
|
20,623 |
|
|
13,537 |
Loans (TE) |
|
305,154 |
|
|
295,964 |
|
|
307,852 |
|
|
317,358 |
|
|
310,347 |
|
|
601,118 |
|
|
609,254 |
Total Earning Assets |
$ |
348,566 |
|
$ |
334,706 |
|
$ |
347,315 |
|
$ |
356,114 |
|
$ |
348,283 |
|
$ |
683,272 |
|
$ |
678,685 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Interest Expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Interest-Bearing Deposits |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
NOW accounts |
$ |
18,144 |
|
$ |
18,306 |
|
$ |
19,099 |
|
$ |
20,535 |
|
$ |
21,020 |
|
$ |
36,450 |
|
$ |
41,594 |
MMDA |
|
53,469 |
|
|
52,261 |
|
|
57,160 |
|
|
61,620 |
|
|
58,332 |
|
|
105,730 |
|
|
112,285 |
Savings accounts |
|
826 |
|
|
830 |
|
|
850 |
|
|
960 |
|
|
984 |
|
|
1,656 |
|
|
1,970 |
Retail CDs |
|
21,852 |
|
|
23,245 |
|
|
25,610 |
|
|
26,775 |
|
|
25,711 |
|
|
45,097 |
|
|
50,287 |
Brokered CDs |
|
12,505 |
|
|
10,573 |
|
|
12,837 |
|
|
19,808 |
|
|
15,198 |
|
|
23,078 |
|
|
33,283 |
Total Interest-Bearing Deposits |
|
106,796 |
|
|
105,215 |
|
|
115,556 |
|
|
129,698 |
|
|
121,245 |
|
|
212,011 |
|
|
239,419 |
Non-Deposit Funding |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
FHLB advances |
|
3,508 |
|
|
1,362 |
|
|
2,393 |
|
|
4,443 |
|
|
7,167 |
|
|
4,870 |
|
|
9,745 |
Other borrowings |
|
2,499 |
|
|
2,350 |
|
|
3,346 |
|
|
3,514 |
|
|
3,574 |
|
|
4,849 |
|
|
7,453 |
Subordinated deferrable interest debentures |
|
3,022 |
|
|
3,012 |
|
|
3,247 |
|
|
3,431 |
|
|
3,416 |
|
|
6,034 |
|
|
6,849 |
Total Non-Deposit Funding |
|
9,029 |
|
|
6,724 |
|
|
8,986 |
|
|
11,388 |
|
|
14,157 |
|
|
15,753 |
|
|
24,047 |
Total Interest-Bearing Funding |
$ |
115,825 |
|
$ |
111,939 |
|
$ |
124,542 |
|
$ |
141,086 |
|
$ |
135,402 |
|
$ |
227,764 |
|
$ |
263,466 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Net Interest Income (TE) |
$ |
232,741 |
|
$ |
222,767 |
|
$ |
222,773 |
|
$ |
215,028 |
|
$ |
212,881 |
|
$ |
455,508 |
|
$ |
415,219 |
AMERIS BANCORP AND SUBSIDIARIES |
|||||||||||||
FINANCIAL TABLES |
|||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Yields(1) |
Table 8 |
||||||||||||
|
Three Months Ended |
|
Six Months Ended |
||||||||||
|
Jun |
|
Mar |
|
Dec |
|
Sep |
|
Jun |
|
Jun |
|
Jun |
|
2025 |
|
2025 |
|
2024 |
|
2024 |
|
2024 |
|
2025 |
|
2024 |
Earning Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing deposits in banks |
4.52 % |
|
4.46 % |
|
4.98 % |
|
5.44 % |
|
5.53 % |
|
4.49 % |
|
5.52 % |
Debt securities - taxable |
3.92 % |
|
3.75 % |
|
3.60 % |
|
3.57 % |
|
4.10 % |
|
3.84 % |
|
3.70 % |
Debt securities - nontaxable (TE) |
4.11 % |
|
4.08 % |
|
4.09 % |
|
4.08 % |
|
4.11 % |
|
4.09 % |
|
4.09 % |
Loans held for sale |
6.35 % |
|
6.49 % |
|
5.92 % |
|
6.32 % |
|
6.71 % |
|
6.41 % |
|
6.69 % |
Loans (TE) |
5.85 % |
|
5.82 % |
|
5.87 % |
|
6.01 % |
|
6.00 % |
|
5.83 % |
|
5.96 % |
Total Earning Assets |
5.64 % |
|
5.61 % |
|
5.67 % |
|
5.81 % |
|
5.86 % |
|
5.63 % |
|
5.79 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-Bearing Deposits |
|
|
|
|
|
|
|
|
|
|
|
|
|
NOW accounts |
1.85 % |
|
1.86 % |
|
1.95 % |
|
2.18 % |
|
2.21 % |
|
1.85 % |
|
2.19 % |
MMDA |
3.10 % |
|
3.07 % |
|
3.31 % |
|
3.77 % |
|
3.75 % |
|
3.08 % |
|
3.70 % |
Savings accounts |
0.43 % |
|
0.44 % |
|
0.44 % |
|
0.50 % |
|
0.51 % |
|
0.44 % |
|
0.50 % |
Retail CDs |
3.66 % |
|
3.87 % |
|
4.12 % |
|
4.30 % |
|
4.25 % |
|
3.77 % |
|
4.21 % |
Brokered CDs |
4.38 % |
|
4.45 % |
|
4.83 % |
|
5.28 % |
|
5.24 % |
|
4.41 % |
|
5.25 % |
Total Interest-Bearing Deposits |
2.83 % |
|
2.83 % |
|
3.06 % |
|
3.44 % |
|
3.37 % |
|
2.83 % |
|
3.34 % |
Non-Deposit Funding |
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal funds purchased and securities sold under agreements to repurchase |
— % |
|
— % |
|
— % |
|
— % |
|
— % |
|
— % |
|
— % |
FHLB advances |
4.32 % |
|
3.69 % |
|
4.43 % |
|
4.93 % |
|
5.26 % |
|
4.12 % |
|
5.10 % |
Other borrowings |
5.18 % |
|
4.93 % |
|
4.75 % |
|
4.69 % |
|
4.68 % |
|
5.05 % |
|
4.87 % |
Subordinated deferrable interest debentures |
9.11 % |
|
9.22 % |
|
9.78 % |
|
10.38 % |
|
10.48 % |
|
9.16 % |
|
10.53 % |
Total Non-Deposit Funding |
5.55 % |
|
5.73 % |
|
5.70 % |
|
5.75 % |
|
5.77 % |
|
5.63 % |
|
5.88 % |
Total Interest-Bearing Liabilities |
2.94 % |
|
2.92 % |
|
3.16 % |
|
3.55 % |
|
3.53 % |
|
2.93 % |
|
3.48 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Interest Spread |
2.70 % |
|
2.69 % |
|
2.51 % |
|
2.26 % |
|
2.33 % |
|
2.70 % |
|
2.31 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Interest Margin(2) |
3.77 % |
|
3.73 % |
|
3.64 % |
|
3.51 % |
|
3.58 % |
|
3.75 % |
|
3.54 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Cost of Funds(3) |
2.06 % |
|
2.06 % |
|
2.22 % |
|
2.50 % |
|
2.48 % |
|
2.06 % |
|
2.44 % |
(1) Interest and average rates are calculated on a tax-equivalent basis using an effective tax rate of 21%. |
|
|
|
|
|||||||||
(2) Rate calculated based on average earning assets. |
|
|
|
|
|||||||||
(3) Rate calculated based on total average funding including noninterest-bearing deposits. |
|
|
|
|
|||||||||
AMERIS BANCORP AND SUBSIDIARIES |
|||||||||||||||||||||||||||
FINANCIAL TABLES |
|||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Non-GAAP Reconciliations |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Adjusted Net Income |
Table 9A |
||||||||||||||||||||||||||
|
Three Months Ended |
|
Six Months Ended |
||||||||||||||||||||||||
|
Jun |
|
Mar |
|
Dec |
|
Sep |
|
Jun |
|
Jun |
|
Jun |
||||||||||||||
(dollars in thousands except per share data) |
|
2025 |
|
|
|
2025 |
|
|
|
2024 |
|
|
|
2024 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
Net income available to common shareholders |
$ |
109,834 |
|
|
$ |
87,935 |
|
|
$ |
94,376 |
|
|
$ |
99,212 |
|
|
$ |
90,785 |
|
|
$ |
197,769 |
|
|
$ |
165,097 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Adjustment items: |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Gain on sale of MSR |
|
(356 |
) |
|
|
14 |
|
|
|
(536 |
) |
|
|
(5,245 |
) |
|
|
(4,713 |
) |
|
|
(342 |
) |
|
|
(4,713 |
) |
Gain on conversion of Visa Class B-1 stock |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(12,554 |
) |
|
|
— |
|
|
|
(12,554 |
) |
Gain on BOLI proceeds |
|
— |
|
|
|
(11 |
) |
|
|
— |
|
|
|
— |
|
|
|
(466 |
) |
|
|
(11 |
) |
|
|
(1,464 |
) |
FDIC special assessment |
|
(138 |
) |
|
|
138 |
|
|
|
(559 |
) |
|
|
— |
|
|
|
(895 |
) |
|
|
— |
|
|
|
2,014 |
|
Natural disaster expenses |
|
— |
|
|
|
— |
|
|
|
400 |
|
|
|
150 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Loss on disposition of bank premises |
|
— |
|
|
|
— |
|
|
|
1,203 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Tax effect of adjustment items (Note 1) |
|
104 |
|
|
|
(32 |
) |
|
|
(107 |
) |
|
|
1,070 |
|
|
|
3,814 |
|
|
|
72 |
|
|
|
3,203 |
|
After tax adjustment items |
|
(390 |
) |
|
|
109 |
|
|
|
401 |
|
|
|
(4,025 |
) |
|
|
(14,814 |
) |
|
|
(281 |
) |
|
|
(13,514 |
) |
Tax expense attributable to BOLI restructuring |
|
— |
|
|
|
— |
|
|
|
301 |
|
|
|
— |
|
|
|
4,792 |
|
|
|
— |
|
|
|
4,792 |
|
Adjusted net income |
$ |
109,444 |
|
|
$ |
88,044 |
|
|
$ |
95,078 |
|
|
$ |
95,187 |
|
|
$ |
80,763 |
|
|
$ |
197,488 |
|
|
$ |
156,375 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Weighted average number of shares - diluted |
|
68,796,577 |
|
|
|
69,030,331 |
|
|
|
69,128,946 |
|
|
|
69,066,298 |
|
|
|
69,013,834 |
|
|
|
68,912,750 |
|
|
|
69,010,010 |
|
Net income per diluted share |
$ |
1.60 |
|
|
$ |
1.27 |
|
|
$ |
1.37 |
|
|
$ |
1.44 |
|
|
$ |
1.32 |
|
|
$ |
2.87 |
|
|
$ |
2.39 |
|
Adjusted net income per diluted share |
$ |
1.59 |
|
|
$ |
1.28 |
|
|
$ |
1.38 |
|
|
$ |
1.38 |
|
|
$ |
1.17 |
|
|
$ |
2.87 |
|
|
$ |
2.27 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Average assets |
$ |
26,757,322 |
|
|
$ |
26,229,423 |
|
|
$ |
26,444,894 |
|
|
$ |
26,442,984 |
|
|
$ |
25,954,808 |
|
|
$ |
26,494,831 |
|
|
$ |
25,624,948 |
|
Return on average assets |
|
1.65 |
% |
|
|
1.36 |
% |
|
|
1.42 |
% |
|
|
1.49 |
% |
|
|
1.41 |
% |
|
|
1.51 |
% |
|
|
1.30 |
% |
Adjusted return on average assets |
|
1.64 |
% |
|
|
1.36 |
% |
|
|
1.43 |
% |
|
|
1.43 |
% |
|
|
1.25 |
% |
|
|
1.50 |
% |
|
|
1.23 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Average common equity |
$ |
3,865,031 |
|
|
$ |
3,798,149 |
|
|
$ |
3,719,888 |
|
|
$ |
3,618,052 |
|
|
$ |
3,530,869 |
|
|
$ |
3,831,775 |
|
|
$ |
3,496,870 |
|
Average tangible common equity |
$ |
2,784,819 |
|
|
$ |
2,713,847 |
|
|
$ |
2,631,452 |
|
|
$ |
2,525,421 |
|
|
$ |
2,433,958 |
|
|
$ |
2,749,529 |
|
|
$ |
2,397,751 |
|
Return on average common equity |
|
11.40 |
% |
|
|
9.39 |
% |
|
|
10.09 |
% |
|
|
10.91 |
% |
|
|
10.34 |
% |
|
|
10.41 |
% |
|
|
9.49 |
% |
Return on average tangible common equity |
|
15.82 |
% |
|
|
13.14 |
% |
|
|
14.27 |
% |
|
|
15.63 |
% |
|
|
15.00 |
% |
|
|
14.50 |
% |
|
|
13.85 |
% |
Adjusted return on average tangible common equity |
|
15.76 |
% |
|
|
13.16 |
% |
|
|
14.37 |
% |
|
|
14.99 |
% |
|
|
13.35 |
% |
|
|
14.48 |
% |
|
|
13.12 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Note 1: Tax effect is calculated utilizing a 21% rate for taxable adjustments. Gain on BOLI proceeds is non-taxable and no tax effect is included. |
|||||||||||||||||||||||||||
AMERIS BANCORP AND SUBSIDIARIES |
|||||||||||||||||||||||||||
FINANCIAL TABLES |
|||||||||||||||||||||||||||
|
|
|
|
|
|||||||||||||||||||||||
Non-GAAP Reconciliations (continued) |
|
|
|||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||
Adjusted Efficiency Ratio (TE) |
Table 9B |
||||||||||||||||||||||||||
|
Three Months Ended |
|
Six Months Ended |
||||||||||||||||||||||||
|
Jun |
|
Mar |
|
Dec |
|
Sep |
|
Jun |
|
Jun |
|
Jun |
||||||||||||||
(dollars in thousands) |
|
2025 |
|
|
|
2025 |
|
|
|
2024 |
|
|
|
2024 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
Adjusted Noninterest Expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Total noninterest expense |
$ |
155,260 |
|
|
$ |
151,034 |
|
|
$ |
151,949 |
|
|
$ |
151,777 |
|
|
$ |
155,357 |
|
|
$ |
306,294 |
|
|
$ |
304,068 |
|
Adjustment items: |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
FDIC special assessment |
|
138 |
|
|
|
(138 |
) |
|
|
559 |
|
|
|
— |
|
|
|
895 |
|
|
|
— |
|
|
|
(2,014 |
) |
Natural disaster expenses |
|
— |
|
|
|
— |
|
|
|
(400 |
) |
|
|
(150 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Loss on disposition of bank premises |
|
— |
|
|
|
— |
|
|
|
(1,203 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Adjusted noninterest expense |
$ |
155,398 |
|
|
$ |
150,896 |
|
|
$ |
150,905 |
|
|
$ |
151,627 |
|
|
$ |
156,252 |
|
|
$ |
306,294 |
|
|
$ |
302,054 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Total Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Net interest income |
$ |
231,813 |
|
|
$ |
221,839 |
|
|
$ |
221,821 |
|
|
$ |
214,060 |
|
|
$ |
211,921 |
|
|
$ |
453,652 |
|
|
$ |
413,309 |
|
Noninterest income |
|
68,911 |
|
|
|
64,023 |
|
|
|
68,959 |
|
|
|
69,709 |
|
|
|
88,711 |
|
|
|
132,934 |
|
|
|
154,589 |
|
Total revenue |
$ |
300,724 |
|
|
$ |
285,862 |
|
|
$ |
290,780 |
|
|
$ |
283,769 |
|
|
$ |
300,632 |
|
|
$ |
586,586 |
|
|
$ |
567,898 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Adjusted Total Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Net interest income (TE) |
$ |
232,741 |
|
|
$ |
222,767 |
|
|
$ |
222,773 |
|
|
$ |
215,028 |
|
|
$ |
212,881 |
|
|
$ |
455,508 |
|
|
$ |
415,219 |
|
Noninterest income |
|
68,911 |
|
|
|
64,023 |
|
|
|
68,959 |
|
|
|
69,709 |
|
|
|
88,711 |
|
|
|
132,934 |
|
|
|
154,589 |
|
Total revenue (TE) |
|
301,652 |
|
|
|
286,790 |
|
|
|
291,732 |
|
|
|
284,737 |
|
|
|
301,592 |
|
|
|
588,442 |
|
|
|
569,808 |
|
Adjustment items: |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
(Gain) loss on securities |
|
— |
|
|
|
(40 |
) |
|
|
16 |
|
|
|
8 |
|
|
|
(12,335 |
) |
|
|
(40 |
) |
|
|
(12,328 |
) |
Gain on sale of MSR |
|
(356 |
) |
|
|
14 |
|
|
|
(536 |
) |
|
|
(5,245 |
) |
|
|
(4,713 |
) |
|
|
(342 |
) |
|
|
(4,713 |
) |
Gain on BOLI proceeds |
|
— |
|
|
|
(11 |
) |
|
|
— |
|
|
|
— |
|
|
|
(466 |
) |
|
|
(11 |
) |
|
|
(1,464 |
) |
Adjusted total revenue (TE) |
$ |
301,296 |
|
|
$ |
286,753 |
|
|
$ |
291,212 |
|
|
$ |
279,500 |
|
|
$ |
284,078 |
|
|
$ |
588,049 |
|
|
$ |
551,303 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Efficiency ratio |
|
51.63 |
% |
|
|
52.83 |
% |
|
|
52.26 |
% |
|
|
53.49 |
% |
|
|
51.68 |
% |
|
|
52.22 |
% |
|
|
53.54 |
% |
Adjusted efficiency ratio (TE) |
|
51.58 |
% |
|
|
52.62 |
% |
|
|
51.82 |
% |
|
|
54.25 |
% |
|
|
55.00 |
% |
|
|
52.09 |
% |
|
|
54.79 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Tangible Book Value Per Share |
Table 9C |
||||||||||||||||||||||||||
|
Three Months Ended |
|
Six Months Ended |
||||||||||||||||||||||||
|
Jun |
|
Mar |
|
Dec |
|
Sep |
|
Jun |
|
Jun |
|
Jun |
||||||||||||||
(dollars in thousands except per share data) |
|
2025 |
|
|
|
2025 |
|
|
|
2024 |
|
|
|
2024 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
Total shareholders' equity |
$ |
3,917,678 |
|
|
$ |
3,823,802 |
|
|
$ |
3,751,522 |
|
|
$ |
3,681,368 |
|
|
$ |
3,566,614 |
|
|
$ |
3,917,678 |
|
|
$ |
3,566,614 |
|
Less: |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Goodwill |
|
1,015,646 |
|
|
|
1,015,646 |
|
|
|
1,015,646 |
|
|
|
1,015,646 |
|
|
|
1,015,646 |
|
|
|
1,015,646 |
|
|
|
1,015,646 |
|
Other intangibles, net |
|
62,582 |
|
|
|
66,658 |
|
|
|
70,761 |
|
|
|
74,941 |
|
|
|
79,120 |
|
|
|
62,582 |
|
|
|
79,120 |
|
Total tangible shareholders' equity |
$ |
2,839,450 |
|
|
$ |
2,741,498 |
|
|
$ |
2,665,115 |
|
|
$ |
2,590,781 |
|
|
$ |
2,471,848 |
|
|
$ |
2,839,450 |
|
|
$ |
2,471,848 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Period end number of shares |
|
68,711,043 |
|
|
|
68,910,924 |
|
|
|
69,068,609 |
|
|
|
69,067,019 |
|
|
|
69,066,573 |
|
|
|
68,711,043 |
|
|
|
69,066,573 |
|
Book value per share (period end) |
$ |
57.02 |
|
|
$ |
55.49 |
|
|
$ |
54.32 |
|
|
$ |
53.30 |
|
|
$ |
51.64 |
|
|
$ |
57.02 |
|
|
$ |
51.64 |
|
Tangible book value per share (period end) |
$ |
41.32 |
|
|
$ |
39.78 |
|
|
$ |
38.59 |
|
|
$ |
37.51 |
|
|
$ |
35.79 |
|
|
$ |
41.32 |
|
|
$ |
35.79 |
|
AMERIS BANCORP AND SUBSIDIARIES |
|||||||||||||||||||
FINANCIAL TABLES |
|||||||||||||||||||
|
|||||||||||||||||||
Non-GAAP Reconciliations (continued) |
|||||||||||||||||||
|
|||||||||||||||||||
Tangible Common Equity to Tangible Assets |
Table 9D |
||||||||||||||||||
|
Jun |
|
Mar |
|
Dec |
|
Sep |
|
Jun |
||||||||||
(dollars in thousands except per share data) |
|
2025 |
|
|
|
2025 |
|
|
|
2024 |
|
|
|
2024 |
|
|
|
2024 |
|
Total shareholders' equity |
$ |
3,917,678 |
|
|
$ |
3,823,802 |
|
|
$ |
3,751,522 |
|
|
$ |
3,681,368 |
|
|
$ |
3,566,614 |
|
Less: |
|
|
|
|
|
|
|
|
|
||||||||||
Goodwill |
|
1,015,646 |
|
|
|
1,015,646 |
|
|
|
1,015,646 |
|
|
|
1,015,646 |
|
|
|
1,015,646 |
|
Other intangibles, net |
|
62,582 |
|
|
|
66,658 |
|
|
|
70,761 |
|
|
|
74,941 |
|
|
|
79,120 |
|
Total tangible shareholders' equity |
$ |
2,839,450 |
|
|
$ |
2,741,498 |
|
|
$ |
2,665,115 |
|
|
$ |
2,590,781 |
|
|
$ |
2,471,848 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Total assets |
$ |
26,680,153 |
|
|
$ |
26,514,940 |
|
|
$ |
26,262,050 |
|
|
$ |
26,399,782 |
|
|
$ |
26,520,728 |
|
Less: |
|
|
|
|
|
|
|
|
|
||||||||||
Goodwill |
|
1,015,646 |
|
|
|
1,015,646 |
|
|
|
1,015,646 |
|
|
|
1,015,646 |
|
|
|
1,015,646 |
|
Other intangibles, net |
|
62,582 |
|
|
|
66,658 |
|
|
|
70,761 |
|
|
|
74,941 |
|
|
|
79,120 |
|
Total tangible assets |
$ |
25,601,925 |
|
|
$ |
25,432,636 |
|
|
$ |
25,175,643 |
|
|
$ |
25,309,195 |
|
|
$ |
25,425,962 |
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Equity to Assets |
|
14.68 |
% |
|
|
14.42 |
% |
|
|
14.28 |
% |
|
|
13.94 |
% |
|
|
13.45 |
% |
Tangible Common Equity to Tangible Assets |
|
11.09 |
% |
|
|
10.78 |
% |
|
|
10.59 |
% |
|
|
10.24 |
% |
|
|
9.72 |
% |
AMERIS BANCORP AND SUBSIDIARIES |
|||||||||||||||||||||||||
FINANCIAL TABLES |
|||||||||||||||||||||||||
|
|
|
|
|
|||||||||||||||||||||
Segment Reporting |
Table 10 |
||||||||||||||||||||||||
|
Three Months Ended |
|
Six Months Ended |
||||||||||||||||||||||
|
Jun |
|
Mar |
|
Dec |
|
Sep |
|
Jun |
|
Jun |
|
Jun |
||||||||||||
(dollars in thousands) |
|
2025 |
|
|
2025 |
|
|
|
2024 |
|
|
|
2024 |
|
|
|
2024 |
|
|
|
2025 |
|
|
2024 |
|
Retail Mortgage Division |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net interest income |
$ |
22,031 |
|
$ |
21,844 |
|
|
$ |
23,714 |
|
|
$ |
23,553 |
|
|
$ |
23,742 |
|
|
$ |
43,875 |
|
$ |
47,029 |
|
Provision for credit losses |
|
1,010 |
|
|
5,191 |
|
|
|
(2,503 |
) |
|
|
254 |
|
|
|
(2,882 |
) |
|
|
6,201 |
|
|
(550 |
) |
Noninterest income |
|
37,726 |
|
|
34,729 |
|
|
|
36,623 |
|
|
|
41,498 |
|
|
|
50,145 |
|
|
|
72,455 |
|
|
88,910 |
|
Noninterest expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Salaries and employee benefits |
|
24,358 |
|
|
20,995 |
|
|
|
22,876 |
|
|
|
23,233 |
|
|
|
25,254 |
|
|
|
45,353 |
|
|
46,327 |
|
Occupancy and equipment expenses |
|
811 |
|
|
829 |
|
|
|
951 |
|
|
|
957 |
|
|
|
1,008 |
|
|
|
1,640 |
|
|
2,057 |
|
Data processing and telecommunications expenses |
|
1,391 |
|
|
1,297 |
|
|
|
1,222 |
|
|
|
1,184 |
|
|
|
1,276 |
|
|
|
2,688 |
|
|
2,642 |
|
Other noninterest expenses |
|
12,496 |
|
|
11,963 |
|
|
|
12,118 |
|
|
|
12,164 |
|
|
|
13,397 |
|
|
|
24,459 |
|
|
25,927 |
|
Total noninterest expense |
|
39,056 |
|
|
35,084 |
|
|
|
37,167 |
|
|
|
37,538 |
|
|
|
40,935 |
|
|
|
74,140 |
|
|
76,953 |
|
Income before income tax expense |
|
19,691 |
|
|
16,298 |
|
|
|
25,673 |
|
|
|
27,259 |
|
|
|
35,834 |
|
|
|
35,989 |
|
|
59,536 |
|
Income tax expense |
|
4,135 |
|
|
3,423 |
|
|
|
5,391 |
|
|
|
5,724 |
|
|
|
7,525 |
|
|
|
7,558 |
|
|
12,503 |
|
Net income |
$ |
15,556 |
|
$ |
12,875 |
|
|
$ |
20,282 |
|
|
$ |
21,535 |
|
|
$ |
28,309 |
|
|
$ |
28,431 |
|
$ |
47,033 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Warehouse Lending Division |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net interest income |
$ |
7,091 |
|
$ |
5,902 |
|
|
$ |
6,640 |
|
|
$ |
7,812 |
|
|
$ |
6,292 |
|
|
$ |
12,993 |
|
$ |
12,320 |
|
Provision for credit losses |
|
369 |
|
|
(175 |
) |
|
|
(59 |
) |
|
|
(170 |
) |
|
|
359 |
|
|
|
194 |
|
|
504 |
|
Noninterest income |
|
1,893 |
|
|
554 |
|
|
|
676 |
|
|
|
1,765 |
|
|
|
1,028 |
|
|
|
2,447 |
|
|
1,768 |
|
Noninterest expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Salaries and employee benefits |
|
618 |
|
|
552 |
|
|
|
583 |
|
|
|
621 |
|
|
|
1,124 |
|
|
|
1,170 |
|
|
2,012 |
|
Occupancy and equipment expenses |
|
7 |
|
|
7 |
|
|
|
6 |
|
|
|
6 |
|
|
|
7 |
|
|
|
14 |
|
|
14 |
|
Data processing and telecommunications expenses |
|
59 |
|
|
38 |
|
|
|
44 |
|
|
|
32 |
|
|
|
59 |
|
|
|
97 |
|
|
84 |
|
Other noninterest expenses |
|
96 |
|
|
270 |
|
|
|
224 |
|
|
|
217 |
|
|
|
298 |
|
|
|
366 |
|
|
535 |
|
Total noninterest expense |
|
780 |
|
|
867 |
|
|
|
857 |
|
|
|
876 |
|
|
|
1,488 |
|
|
|
1,647 |
|
|
2,645 |
|
Income before income tax expense |
|
7,835 |
|
|
5,764 |
|
|
|
6,518 |
|
|
|
8,871 |
|
|
|
5,473 |
|
|
|
13,599 |
|
|
10,939 |
|
Income tax expense |
|
1,646 |
|
|
1,210 |
|
|
|
1,369 |
|
|
|
1,863 |
|
|
|
1,149 |
|
|
|
2,856 |
|
|
2,297 |
|
Net income |
$ |
6,189 |
|
$ |
4,554 |
|
|
$ |
5,149 |
|
|
$ |
7,008 |
|
|
$ |
4,324 |
|
|
$ |
10,743 |
|
$ |
8,642 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Premium Finance Division |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net interest income |
$ |
11,190 |
|
$ |
9,880 |
|
|
$ |
10,390 |
|
|
$ |
10,060 |
|
|
$ |
8,350 |
|
|
$ |
21,070 |
|
$ |
15,955 |
|
Provision for credit losses |
|
716 |
|
|
456 |
|
|
|
517 |
|
|
|
457 |
|
|
|
408 |
|
|
|
1,172 |
|
|
(91 |
) |
Noninterest income |
|
17 |
|
|
16 |
|
|
|
13 |
|
|
|
11 |
|
|
|
11 |
|
|
|
33 |
|
|
21 |
|
Noninterest expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Salaries and employee benefits |
|
2,331 |
|
|
2,352 |
|
|
|
2,029 |
|
|
|
2,212 |
|
|
|
1,900 |
|
|
|
4,683 |
|
|
3,953 |
|
Occupancy and equipment expenses |
|
36 |
|
|
37 |
|
|
|
51 |
|
|
|
28 |
|
|
|
70 |
|
|
|
73 |
|
|
146 |
|
Data processing and telecommunications expenses |
|
91 |
|
|
129 |
|
|
|
106 |
|
|
|
83 |
|
|
|
102 |
|
|
|
220 |
|
|
181 |
|
Other noninterest expenses |
|
1,115 |
|
|
969 |
|
|
|
1,173 |
|
|
|
1,140 |
|
|
|
1,095 |
|
|
|
2,084 |
|
|
2,123 |
|
Total noninterest expense |
|
3,573 |
|
|
3,487 |
|
|
|
3,359 |
|
|
|
3,463 |
|
|
|
3,167 |
|
|
|
7,060 |
|
|
6,403 |
|
Income before income tax expense |
|
6,918 |
|
|
5,953 |
|
|
|
6,527 |
|
|
|
6,151 |
|
|
|
4,786 |
|
|
|
12,871 |
|
|
9,664 |
|
Income tax expense |
|
1,410 |
|
|
1,214 |
|
|
|
1,334 |
|
|
|
1,254 |
|
|
|
953 |
|
|
|
2,624 |
|
|
1,937 |
|
Net income |
$ |
5,508 |
|
$ |
4,739 |
|
|
$ |
5,193 |
|
|
$ |
4,897 |
|
|
$ |
3,833 |
|
|
$ |
10,247 |
|
$ |
7,727 |
|
AMERIS BANCORP AND SUBSIDIARIES |
||||||||||||||||||||
FINANCIAL TABLES |
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Segment Reporting (continued) |
Table 10 |
|||||||||||||||||||
|
Three Months Ended |
|
Six Months Ended |
|||||||||||||||||
|
Jun |
|
Mar |
|
Dec |
|
Sep |
|
Jun |
|
Jun |
|
Jun |
|||||||
(dollars in thousands) |
|
2025 |
|
|
2025 |
|
|
2024 |
|
|
2024 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
Banking Division |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Net interest income |
$ |
191,501 |
|
$ |
184,213 |
|
$ |
181,077 |
|
$ |
172,635 |
|
$ |
173,537 |
|
$ |
375,714 |
|
$ |
338,005 |
Provision for credit losses |
|
677 |
|
|
16,420 |
|
|
14,853 |
|
|
5,566 |
|
|
20,888 |
|
|
17,097 |
|
|
40,015 |
Noninterest income |
|
29,275 |
|
|
28,724 |
|
|
31,647 |
|
|
26,435 |
|
|
37,527 |
|
|
57,999 |
|
|
63,890 |
Noninterest expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Salaries and employee benefits |
|
62,001 |
|
|
62,716 |
|
|
62,322 |
|
|
62,634 |
|
|
59,923 |
|
|
124,717 |
|
|
118,839 |
Occupancy and equipment expenses |
|
10,547 |
|
|
9,804 |
|
|
10,616 |
|
|
10,725 |
|
|
11,474 |
|
|
20,351 |
|
|
23,227 |
Data processing and telecommunications expenses |
|
13,825 |
|
|
13,391 |
|
|
13,259 |
|
|
13,922 |
|
|
13,756 |
|
|
27,216 |
|
|
26,940 |
Other noninterest expenses |
|
25,478 |
|
|
25,685 |
|
|
24,369 |
|
|
22,619 |
|
|
24,614 |
|
|
51,163 |
|
|
49,061 |
Total noninterest expense |
|
111,851 |
|
|
111,596 |
|
|
110,566 |
|
|
109,900 |
|
|
109,767 |
|
|
223,447 |
|
|
218,067 |
Income before income tax expense |
|
108,248 |
|
|
84,921 |
|
|
87,305 |
|
|
83,604 |
|
|
80,409 |
|
|
193,169 |
|
|
143,813 |
Income tax expense |
|
25,667 |
|
|
19,154 |
|
|
23,553 |
|
|
17,832 |
|
|
26,090 |
|
|
44,821 |
|
|
42,118 |
Net income |
$ |
82,581 |
|
$ |
65,767 |
|
$ |
63,752 |
|
$ |
65,772 |
|
$ |
54,319 |
|
$ |
148,348 |
|
$ |
101,695 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Total Consolidated |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Net interest income |
$ |
231,813 |
|
$ |
221,839 |
|
$ |
221,821 |
|
$ |
214,060 |
|
$ |
211,921 |
|
$ |
453,652 |
|
$ |
413,309 |
Provision for credit losses |
|
2,772 |
|
|
21,892 |
|
|
12,808 |
|
|
6,107 |
|
|
18,773 |
|
|
24,664 |
|
|
39,878 |
Noninterest income |
|
68,911 |
|
|
64,023 |
|
|
68,959 |
|
|
69,709 |
|
|
88,711 |
|
|
132,934 |
|
|
154,589 |
Noninterest expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Salaries and employee benefits |
|
89,308 |
|
|
86,615 |
|
|
87,810 |
|
|
88,700 |
|
|
88,201 |
|
|
175,923 |
|
|
171,131 |
Occupancy and equipment expenses |
|
11,401 |
|
|
10,677 |
|
|
11,624 |
|
|
11,716 |
|
|
12,559 |
|
|
22,078 |
|
|
25,444 |
Data processing and telecommunications expenses |
|
15,366 |
|
|
14,855 |
|
|
14,631 |
|
|
15,221 |
|
|
15,193 |
|
|
30,221 |
|
|
29,847 |
Other noninterest expenses |
|
39,185 |
|
|
38,887 |
|
|
37,884 |
|
|
36,140 |
|
|
39,404 |
|
|
78,072 |
|
|
77,646 |
Total noninterest expense |
|
155,260 |
|
|
151,034 |
|
|
151,949 |
|
|
151,777 |
|
|
155,357 |
|
|
306,294 |
|
|
304,068 |
Income before income tax expense |
|
142,692 |
|
|
112,936 |
|
|
126,023 |
|
|
125,885 |
|
|
126,502 |
|
|
255,628 |
|
|
223,952 |
Income tax expense |
|
32,858 |
|
|
25,001 |
|
|
31,647 |
|
|
26,673 |
|
|
35,717 |
|
|
57,859 |
|
|
58,855 |
Net income |
$ |
109,834 |
|
$ |
87,935 |
|
$ |
94,376 |
|
$ |
99,212 |
|
$ |
90,785 |
|
$ |
197,769 |
|
$ |
165,097 |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250728477941/en/
Contacts
For more information, contact:
Brady Gailey
Executive Director of Corporate Development
(404) 240-1517