ATLANTA, Oct. 28, 2021 /PRNewswire/ -- Ameris Bancorp
(Nasdaq: ABCB) (the "Company") today reported net income of
$81.7 million, or $1.17 per diluted share, for the quarter ended
September 30, 2021, compared with
$116.1 million, or $1.67 per diluted share, for the quarter ended
September 30, 2020. The Company
reported adjusted net income of $83.9
million, or $1.20 per diluted
share, for the quarter ended September 30, 2021, compared with
$116.9 million, or $1.69 per diluted share, for the same period in
2020. Adjusted net income excludes after-tax merger and
conversion charges, servicing right valuation adjustments,
restructuring charges related to branch consolidations and
efficiency initiatives, certain legal expenses, gain on bank owned
life insurance ("BOLI") proceeds, (gain)/loss on bank premises and
expenses related to the COVID-19 pandemic.
For the year-to-date period ending September 30, 2021, the
Company reported net income of $295.0
million, or $4.23 per diluted
share, compared with $167.7 million,
or $2.42 per diluted share, for the
same period in 2020. The Company reported adjusted net income of
$287.2 million, or $4.12 per diluted share, for the nine months
ended September 30, 2021, compared with $198.5 million, or $2.86 per diluted share, for the same period in
2020. Adjusted net income for the year-to-date period excludes the
same items listed above for the Company's quarter-to-date
period.
Commenting on the Company's results, Palmer Proctor, the Company's Chief Executive
Officer, said, "Our continued organic success and strong third
quarter results show the strength and focus of our team of
bankers. We grew loans 7% annualized, exclusive of PPP loans,
while growing low cost deposits at the same pace. In
addition, we had another solid quarter of tangible book value
growth at 3.8% for the quarter due to the core earnings power of
our Company. We remain focused on growth opportunities in the
premier markets in the Southeast, which we are confident will lead
us to continue to deliver top financial results. I am
energized by our momentum and look forward to a strong 2022."
Significant items from the Company's results for the third
quarter of 2021 include the following:
- Net income of $81.7 million, or
$1.17 per diluted share, compared
with $88.3 million, or $1.27 per diluted share, in the second quarter of
2021
- Growth in tangible book value of 3.8%, or $1.01 per share, to $27.46 at September 30,
2021, compared with $26.45 at
June 30, 2021
- Organic growth in loans of $43.7
million, or 1.2% annualized (and $251.3 million, or 7.0% annualized, exclusive of
PPP loans), during the third quarter of 2021
- Increase in net interest income, excluding accretion, of
$1.3 million, from $157.4 million in the second quarter of 2021 to
$158.7 million in the third quarter
of 2021
- Adjusted return on average assets of 1.51%, compared with 1.63%
in the second quarter of 2021
- Continued growth in noninterest bearing deposits, representing
40.44% of total deposits, up from 36.27% at December 31, 2020 and 36.79% a year ago
- Net recoveries during the third quarter of $127,000, compared to net charge-offs of
$2.6 million, or 0.07% of loans, in
the second quarter of 2021
- Repurchased 137,370 shares of the Company's common stock at a
cost of $6.5 million, or an average
price of $47.56 per share
Net Interest Income and Net Interest Margin
Net interest income on a tax-equivalent basis for the third
quarter of 2021 totaled $162.8
million, compared with $163.0
million for the second quarter of 2021 and $163.9 million for the third quarter of
2020. The Company's net interest margin was 3.22% for the
third quarter of 2021, down from 3.34% reported for the second
quarter of 2021 and 3.64% reported for the third quarter of
2020. The decrease in net interest margin in the current
quarter is attributable to excess liquidity held on the balance
sheet, as the average balance in interest-bearing deposits in banks
continued to increase during the quarter. The yield on
earning assets declined 14 basis points due to this excess
liquidity, as well as a decline in accretion income, and the
decline was partially offset by improvement in the cost of
interest-bearing liabilities of three basis points during the
quarter and increases in average loans. Accretion income for the
third quarter of 2021 decreased to $2.9
million, compared with $4.5
million for the second quarter of 2021, and $6.5 million for the third quarter of 2020.
The decrease in accretion income for the third quarter is primarily
attributable to decreased accelerated income related to payoffs of
acquired loans during the third quarter of 2021 and continued
attrition of the purchased portfolio.
Yields on loans decreased to 4.24% during the third quarter of
2021, compared with 4.33% for the second quarter of 2021 and 4.42%
reported for the third quarter of 2020. Contributing to
interest income on loans for the third quarter of 2021 was
$6.2 million related to accelerated
fee income on Paycheck Protection Program ("PPP") loan forgiveness,
compared with $6.1 million in the
second quarter of 2021. Loan production in the banking
division during the third quarter of 2021 was $913.3 million, with weighted average yields of
3.56%, compared with $911.3 million
and 3.75%, respectively, in the second quarter of 2021 and
$869.0 million and 4.00%,
respectively, in the third quarter of 2020. Loan production
in the lines of business (including retail mortgage, warehouse
lending, SBA and premium finance) amounted to an additional
$5.8 billion during the third quarter
of 2021, with weighted average yields of 3.37%, compared with
$6.4 billion and 3.36%, respectively,
during the second quarter of 2021 and $7.7
billion and 3.33%, respectively, during the third quarter of
2020.
Interest expense during the third quarter of 2021 decreased to
$11.4 million, compared with
$11.9 million in the second quarter
of 2021 and $17.4 million in the
third quarter of 2020. The Company's total cost of funds
moved two basis points lower to 0.24% in the third quarter of 2021
as compared with the second quarter of 2021. Deposit costs
decreased two basis points during the third quarter of 2021 to
0.11%, compared with 0.13% in the second quarter of 2021.
Costs of interest-bearing deposits decreased during the quarter
from 0.21% in the second quarter of 2021 to 0.18% in the third
quarter of 2021.
Noninterest Income
Noninterest income decreased $12.7
million, or 14.2%, in the third quarter of 2021 to
$76.6 million, compared with
$89.2 million for the second quarter
of 2021, primarily as a result of decreased mortgage banking
activity, which declined by $13.8
million, or 19.6%, to $56.5
million in the third quarter of 2021, compared with
$70.2 million for the second quarter
of 2021. This decrease was primarily the result of a
$18.5 million reduction in mortgage
pair-off fees compared with the second quarter of 2021. Gain
on sale spreads increased to 3.17% in the third quarter of 2021
from 2.77% for the second quarter of 2021. Total production in the
retail mortgage division decreased to $2.06 billion in the third quarter of 2021,
compared with $2.39 billion for the
second quarter of 2021. Mortgage banking activity was negatively
impacted during the third quarter of 2021 by a $1.4 million servicing right impairment, compared
with a recovery of $749,000 for the
second quarter of 2021. The retail mortgage open pipeline was
$1.93 billion at the end of the third
quarter of 2021, compared with $1.75
billion at June 30, 2021.
Service charge revenue increased $479,000, or 4.4%, to $11.5 million in the third quarter of 2021,
compared with $11.0 million for the
second quarter of 2021, resulting from an increase in volume. Other
noninterest income was flat in the third quarter of 2021 at
$6.9 million, compared with the
second quarter of 2021, primarily as a result of increases in trust
services income of $260,000, BOLI
income of $217,000 and merchant fee
income of $130,000, offset by a
decrease in gain on sale of SBA loans of $654,000.
Noninterest Expense
Noninterest expense increased $1.4
million, or 1.1%, to $137.2
million during the third quarter of 2021, compared with
$135.8 million for the second quarter
of 2021. During the third quarter of 2021, the Company
recorded a net loss of $1.1 million
related to bank premises and merger and conversion charges of
$183,000, compared with a net gain on
bank premises of $236,000 during the
second quarter of 2021. Excluding these charges, adjusted
expenses decreased approximately $120,000, or 0.1%, to $135.9 million in the third quarter of 2021, from
$136.0 million in the second quarter
of 2021. The majority of this decrease is attributable to a
$5.8 million reduction in salaries
and employee benefits, primarily variable compensation related to
mortgage production, and a $1.2
million decrease in data processing and telecommunications
expense. These decreases were offset by increases in legal
and other professional fees, loan servicing expenses and other
mortgage expenses that are not expected to be
recurring. The adjusted efficiency ratio was 56.56% in
the third quarter of 2021, compared with 54.07% in the second
quarter of 2021.
Income Tax Expense
The Company's effective tax rate for the third quarter of 2021
was 26.2%, compared with 23.3% in the second quarter of 2021.
The increased rate for the third quarter of 2021 was primarily a
result of an adjustment to the Company's state tax liability.
The Company's future effective rate is expected to be between 23%
and 24%.
Balance Sheet Trends
Total assets at September 30, 2021 were $22.53 billion, compared with $20.44 billion at December
31, 2020. Total loans, including loans held for sale,
were $16.26 billion at
September 30, 2021, compared with $15.65 billion at December
31, 2020. Total loans held for investment were
$14.82 billion at September 30,
2021, compared with $14.48 billion at
December 31, 2020, an increase of
$343.6 million, or 2.4%. Loan
production in the banking division during the third quarter of 2021
remained strong at $913.3 million,
which was consistent with the second quarter of 2021 and up 5% from
the third quarter of 2020.
At September 30, 2021, total deposits amounted to
$18.83 billion, or 97.1% of total
funding, compared with $16.96 billion
and 96.8%, respectively, at December
31, 2020. At September 30, 2021,
noninterest-bearing deposit accounts were $7.62 billion, or 40.4% of total deposits,
compared with $6.15 billion, or 36.3%
of total deposits, at December 31,
2020. Non-rate sensitive deposits (including
noninterest-bearing, NOW and savings) totaled $12.01 billion at September 30, 2021,
compared with $10.23 billion at
December 31, 2020. These funds
represented 63.8% of the Company's total deposits at
September 30, 2021, compared with 60.3% at the end of
2020.
Shareholders' equity at September 30, 2021 totaled
$2.90 billion, an increase of
$253.7 million, or 9.6%, from
December 31, 2020. The increase
in shareholders' equity was primarily the result of earnings of
$295.0 million during the first nine
months of 2021, partially offset by dividends declared.
Tangible book value per share was $27.46 at September 30, 2021, compared with
$23.69 at December 31, 2020. Tangible common equity
as a percentage of tangible assets was 8.88% at September 30,
2021, compared with 8.47% at the end of 2020.
Credit Quality
Credit quality remains strong in the Company. During the
third quarter of 2021, the Company recorded a provision for credit
losses reversal of $9.7 million,
compared with a provision of $142,000
in the second quarter of 2021. This provision reversal was
primarily attributable to improvements in forecast economic
conditions, particularly levels of home prices and commercial real
estate prices, compared with forecast conditions during the second
quarter of 2021. The Company has been prudently working with
borrowers to support their credit needs during the challenging
economic conditions and is monitoring the level of modifications on
an ongoing basis, such that loans remaining on deferral at the end
of the third quarter of 2021 equaled approximately 0.6% of total
loans, down from approximately 1.2% and 4.3% of total loans at the
end of the second quarter of 2021 and the third quarter of 2020,
respectively. Nonperforming assets as a percentage of total
assets was stable at 0.32% during the quarter. The Company
recorded net recoveries in the third quarter of 2021 of
$127,000, such that the net
charge-off ratio was zero basis points for the quarter, compared
with seven basis points in the second quarter of 2021 and 10 basis
points in the third quarter of 2020.
Share Repurchase Program
The Company's board of directors has also approved the extension
of the share repurchase program authorized in September 2019, under which the Company was
authorized to repurchase up to $100
million of its outstanding common stock. As extended,
the program now allows for repurchases of shares to occur through
October 31, 2022. Currently,
$79,190,199 in aggregate value
remains for repurchase under the program.
Conference Call
The Company will host a teleconference at 9:00 a.m. Eastern time on Friday, October 29,
2021, to discuss the Company's results and answer appropriate
questions. The conference call can be accessed by dialing
1-844-200-6205 (or 1-833-950-0062 for participants in Canada and 1-929-526-1599 for other
international participants). The conference call access code
is 162447. A replay of the call will be available one hour
after the end of the conference call until November 5, 2021. To listen to the replay,
dial 1-866-813-9403. The conference replay access code is
133904. The financial information discussed will also be
available on the Investor Relations page of the Ameris Bank website
at ir.amerisbank.com.
About Ameris Bancorp
Ameris Bancorp is a bank holding company headquartered in
Atlanta, Georgia. The
Company's banking subsidiary, Ameris Bank, had 165 locations in
Georgia, Alabama, Florida, North
Carolina and South Carolina
at the end of the most recent quarter.
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 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 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 performance 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 of borrowers, collateral values, asset
recovery values and the value of investment securities; movements
in interest rates and their impacts on net interest margin;
expectations on credit quality and performance; legislative and
regulatory changes; changes in U.S. government monetary and fiscal
policy; the impact of the COVID-19 pandemic on the general economy,
our customers and the allowance for loan losses; the benefits that
may be realized by our customers from government assistance
programs and regulatory actions related to the COVID-19 pandemic;
the potential impact of the phase-out of the London Interbank
Offered Rate ("LIBOR") or other changes involving LIBOR;
competitive pressures on product pricing and services; the cost
savings and any revenue synergies expected to result from
acquisition transactions, which may not be fully realized within
the expected timeframes if at all; the success and timing of other
business strategies; 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,
2020 and its 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
|
FINANCIAL
TABLES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial
Highlights
|
Table
1
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
Sep
|
|
Jun
|
|
Mar
|
|
Dec
|
|
Sep
|
|
Sep
|
|
Sep
|
(dollars in
thousands except per share data)
|
2021
|
|
2021
|
|
2021
|
|
2020
|
|
2020
|
|
2021
|
|
2020
|
EARNINGS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
$
|
81,680
|
|
|
$
|
88,327
|
|
|
$
|
124,962
|
|
|
$
|
94,285
|
|
|
$
|
116,145
|
|
|
$
|
294,969
|
|
|
$
|
167,703
|
|
Adjusted net
income
|
$
|
83,861
|
|
|
$
|
87,548
|
|
|
$
|
115,746
|
|
|
$
|
101,995
|
|
|
$
|
116,879
|
|
|
$
|
287,155
|
|
|
$
|
198,507
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMMON SHARE
DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share
available to common shareholders
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
$
|
1.18
|
|
|
$
|
1.27
|
|
|
$
|
1.80
|
|
|
$
|
1.36
|
|
|
$
|
1.68
|
|
|
$
|
4.25
|
|
|
$
|
2.42
|
|
Diluted
|
$
|
1.17
|
|
|
$
|
1.27
|
|
|
$
|
1.79
|
|
|
$
|
1.36
|
|
|
$
|
1.67
|
|
|
$
|
4.23
|
|
|
$
|
2.42
|
|
Adjusted diluted
EPS
|
$
|
1.20
|
|
|
$
|
1.25
|
|
|
$
|
1.66
|
|
|
$
|
1.47
|
|
|
$
|
1.69
|
|
|
$
|
4.12
|
|
|
$
|
2.86
|
|
Cash dividends per
share
|
$
|
0.15
|
|
|
$
|
0.15
|
|
|
$
|
0.15
|
|
|
$
|
0.15
|
|
|
$
|
0.15
|
|
|
$
|
0.45
|
|
|
$
|
0.45
|
|
Book value per share
(period end)
|
$
|
41.66
|
|
|
$
|
40.66
|
|
|
$
|
39.56
|
|
|
$
|
38.07
|
|
|
$
|
36.91
|
|
|
$
|
41.66
|
|
|
$
|
36.91
|
|
Tangible book value
per share (period end)
|
$
|
27.46
|
|
|
$
|
26.45
|
|
|
$
|
25.27
|
|
|
$
|
23.69
|
|
|
$
|
22.46
|
|
|
$
|
27.46
|
|
|
$
|
22.46
|
|
Weighted average
number of shares
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
69,439,845
|
|
|
69,496,666
|
|
|
69,391,734
|
|
|
69,252,307
|
|
|
69,230,667
|
|
|
69,445,270
|
|
|
69,243,280
|
|
Diluted
|
69,756,135
|
|
|
69,791,670
|
|
|
69,740,860
|
|
|
69,493,105
|
|
|
69,346,141
|
|
|
69,772,084
|
|
|
69,403,104
|
|
Period end number of
shares
|
69,635,435
|
|
|
69,767,209
|
|
|
69,713,426
|
|
|
69,541,481
|
|
|
69,490,546
|
|
|
69,635,435
|
|
|
69,490,546
|
|
Market data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
High intraday
price
|
$
|
53.63
|
|
|
$
|
59.85
|
|
|
$
|
57.81
|
|
|
$
|
39.53
|
|
|
$
|
27.81
|
|
|
$
|
59.85
|
|
|
$
|
43.79
|
|
Low intraday
price
|
$
|
44.92
|
|
|
$
|
47.44
|
|
|
$
|
36.60
|
|
|
$
|
22.37
|
|
|
$
|
19.91
|
|
|
$
|
36.60
|
|
|
$
|
17.12
|
|
Period end closing
price
|
$
|
51.88
|
|
|
$
|
50.63
|
|
|
$
|
52.51
|
|
|
$
|
38.07
|
|
|
$
|
22.78
|
|
|
$
|
51.88
|
|
|
$
|
22.78
|
|
Average daily
volume
|
392,533
|
|
|
429,233
|
|
|
460,744
|
|
|
394,641
|
|
|
359,059
|
|
|
426,963
|
|
|
429,758
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PERFORMANCE
RATIOS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average
assets
|
1.47
|
%
|
|
1.64
|
%
|
|
2.44
|
%
|
|
1.89
|
%
|
|
2.33
|
%
|
|
1.84
|
%
|
|
1.18
|
%
|
Adjusted return on
average assets
|
1.51
|
%
|
|
1.63
|
%
|
|
2.26
|
%
|
|
2.04
|
%
|
|
2.35
|
%
|
|
1.79
|
%
|
|
1.39
|
%
|
Return on average
common equity
|
11.27
|
%
|
|
12.66
|
%
|
|
18.80
|
%
|
|
14.30
|
%
|
|
18.27
|
%
|
|
14.14
|
%
|
|
8.96
|
%
|
Adjusted return on
average tangible common equity
|
17.65
|
%
|
|
19.46
|
%
|
|
27.66
|
%
|
|
25.04
|
%
|
|
30.53
|
%
|
|
21.38
|
%
|
|
17.84
|
%
|
Earning asset yield
(TE)
|
3.44
|
%
|
|
3.58
|
%
|
|
3.85
|
%
|
|
3.98
|
%
|
|
4.02
|
%
|
|
3.62
|
%
|
|
4.29
|
%
|
Total cost of
funds
|
0.24
|
%
|
|
0.26
|
%
|
|
0.30
|
%
|
|
0.36
|
%
|
|
0.41
|
%
|
|
0.26
|
%
|
|
0.60
|
%
|
Net interest margin
(TE)
|
3.22
|
%
|
|
3.34
|
%
|
|
3.57
|
%
|
|
3.64
|
%
|
|
3.64
|
%
|
|
3.37
|
%
|
|
3.72
|
%
|
Noninterest income
excluding securities transactions, as a percent of total revenue
(TE)
|
30.32
|
%
|
|
33.78
|
%
|
|
39.71
|
%
|
|
38.37
|
%
|
|
46.72
|
%
|
|
34.88
|
%
|
|
37.74
|
%
|
Efficiency
ratio
|
57.59
|
%
|
|
54.07
|
%
|
|
52.59
|
%
|
|
54.83
|
%
|
|
47.80
|
%
|
|
54.61
|
%
|
|
55.34
|
%
|
Adjusted efficiency
ratio (TE)
|
56.56
|
%
|
|
54.07
|
%
|
|
54.62
|
%
|
|
52.67
|
%
|
|
47.34
|
%
|
|
55.05
|
%
|
|
52.00
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CAPITAL ADEQUACY
(period end)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders' equity
to assets
|
12.87
|
%
|
|
12.96
|
%
|
|
12.87
|
%
|
|
12.95
|
%
|
|
12.90
|
%
|
|
12.87
|
%
|
|
12.90
|
%
|
Tangible common equity
to tangible assets
|
8.88
|
%
|
|
8.83
|
%
|
|
8.62
|
%
|
|
8.47
|
%
|
|
8.27
|
%
|
|
8.88
|
%
|
|
8.27
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EQUITY TO ASSETS
RECONCILIATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tangible common equity
to tangible assets
|
8.88
|
%
|
|
8.83
|
%
|
|
8.62
|
%
|
|
8.47
|
%
|
|
8.27
|
%
|
|
8.88
|
%
|
|
8.27
|
%
|
Effect of goodwill and
other intangibles
|
3.99
|
%
|
|
4.13
|
%
|
|
4.25
|
%
|
|
4.48
|
%
|
|
4.63
|
%
|
|
3.99
|
%
|
|
4.63
|
%
|
Equity to assets
(GAAP)
|
12.87
|
%
|
|
12.96
|
%
|
|
12.87
|
%
|
|
12.95
|
%
|
|
12.90
|
%
|
|
12.87
|
%
|
|
12.90
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER DATA (period
end)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Full time equivalent
employees
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Banking
Division
|
1,821
|
|
|
1,817
|
|
|
1,815
|
|
|
1,816
|
|
|
1,807
|
|
|
1,821
|
|
|
1,807
|
|
Retail Mortgage
Division
|
749
|
|
|
759
|
|
|
765
|
|
|
748
|
|
|
734
|
|
|
749
|
|
|
734
|
|
Warehouse Lending
Division
|
12
|
|
|
12
|
|
|
12
|
|
|
12
|
|
|
11
|
|
|
12
|
|
|
11
|
|
SBA
Division
|
29
|
|
|
30
|
|
|
29
|
|
|
24
|
|
|
33
|
|
|
29
|
|
|
33
|
|
Premium Finance
Division
|
67
|
|
|
68
|
|
|
70
|
|
|
71
|
|
|
71
|
|
|
67
|
|
|
71
|
|
Total Ameris Bancorp
FTE headcount
|
2,678
|
|
|
2,686
|
|
|
2,691
|
|
|
2,671
|
|
|
2,656
|
|
|
2,678
|
|
|
2,656
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets per Banking
Division FTE
|
$
|
12,374
|
|
|
$
|
12,046
|
|
|
$
|
11,806
|
|
|
$
|
11,255
|
|
|
$
|
10,998
|
|
|
$
|
12,374
|
|
|
$
|
10,998
|
|
Branch
locations
|
165
|
|
|
165
|
|
|
165
|
|
|
164
|
|
|
170
|
|
|
165
|
|
|
170
|
|
Deposits per branch
location
|
$
|
114,142
|
|
|
$
|
110,655
|
|
|
$
|
108,339
|
|
|
$
|
103,401
|
|
|
$
|
94,493
|
|
|
$
|
114,142
|
|
|
$
|
94,493
|
|
AMERIS BANCORP AND
SUBSIDIARIES
|
FINANCIAL
TABLES
|
|
|
|
|
|
Income
Statement
|
Table
2
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
Sep
|
|
Jun
|
|
Mar
|
|
Dec
|
|
Sep
|
|
Sep
|
|
Sep
|
(dollars in
thousands except per share data)
|
2021
|
|
2021
|
|
2021
|
|
2020
|
|
2020
|
|
2021
|
|
2020
|
Interest
income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest and fees on
loans
|
$
|
166,358
|
|
|
$
|
167,761
|
|
|
$
|
171,157
|
|
|
$
|
171,971
|
|
|
$
|
172,351
|
|
|
$
|
505,276
|
|
|
$
|
518,938
|
|
Interest on taxable
securities
|
5,296
|
|
|
5,244
|
|
|
6,118
|
|
|
6,398
|
|
|
7,259
|
|
|
16,658
|
|
|
26,688
|
|
Interest on
nontaxable securities
|
139
|
|
|
139
|
|
|
141
|
|
|
150
|
|
|
159
|
|
|
419
|
|
|
473
|
|
Interest on deposits
in other banks
|
1,244
|
|
|
595
|
|
|
522
|
|
|
252
|
|
|
153
|
|
|
2,361
|
|
|
1,487
|
|
Interest on federal
funds sold
|
9
|
|
|
12
|
|
|
12
|
|
|
12
|
|
|
12
|
|
|
33
|
|
|
134
|
|
Total interest
income
|
173,046
|
|
|
173,751
|
|
|
177,950
|
|
|
178,783
|
|
|
179,934
|
|
|
524,747
|
|
|
547,720
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest on
deposits
|
5,106
|
|
|
5,775
|
|
|
6,798
|
|
|
8,870
|
|
|
11,822
|
|
|
17,679
|
|
|
50,197
|
|
Interest on other
borrowings
|
6,279
|
|
|
6,124
|
|
|
6,175
|
|
|
6,457
|
|
|
5,574
|
|
|
18,578
|
|
|
23,226
|
|
Total interest
expense
|
11,385
|
|
|
11,899
|
|
|
12,973
|
|
|
15,327
|
|
|
17,396
|
|
|
36,257
|
|
|
73,423
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
161,661
|
|
|
161,852
|
|
|
164,977
|
|
|
163,456
|
|
|
162,538
|
|
|
488,490
|
|
|
474,297
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for loan
losses
|
(3,984)
|
|
|
(899)
|
|
|
(16,579)
|
|
|
(6,700)
|
|
|
26,692
|
|
|
(21,462)
|
|
|
132,188
|
|
Provision for
unfunded commitments
|
(5,516)
|
|
|
1,299
|
|
|
(11,839)
|
|
|
5,481
|
|
|
(10,131)
|
|
|
(16,056)
|
|
|
13,581
|
|
Provision for other
credit losses
|
(175)
|
|
|
(258)
|
|
|
(173)
|
|
|
(291)
|
|
|
1,121
|
|
|
(606)
|
|
|
1,121
|
|
Provision for
credit losses
|
(9,675)
|
|
|
142
|
|
|
(28,591)
|
|
|
(1,510)
|
|
|
17,682
|
|
|
(38,124)
|
|
|
146,890
|
|
Net interest
income after provision for credit losses
|
171,336
|
|
|
161,710
|
|
|
193,568
|
|
|
164,966
|
|
|
144,856
|
|
|
526,614
|
|
|
327,407
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest
income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Service charges on
deposit accounts
|
11,486
|
|
|
11,007
|
|
|
10,829
|
|
|
11,465
|
|
|
10,914
|
|
|
33,322
|
|
|
32,680
|
|
Mortgage banking
activity
|
56,460
|
|
|
70,231
|
|
|
98,486
|
|
|
95,192
|
|
|
138,627
|
|
|
225,177
|
|
|
278,885
|
|
Other service
charges, commissions and fees
|
1,154
|
|
|
1,056
|
|
|
1,016
|
|
|
965
|
|
|
1,039
|
|
|
3,226
|
|
|
2,949
|
|
Gain (loss) on
securities
|
530
|
|
|
1
|
|
|
(12)
|
|
|
—
|
|
|
—
|
|
|
519
|
|
|
5
|
|
Other noninterest
income
|
6,932
|
|
|
6,945
|
|
|
7,654
|
|
|
4,521
|
|
|
8,438
|
|
|
21,531
|
|
|
19,838
|
|
Total noninterest
income
|
76,562
|
|
|
89,240
|
|
|
117,973
|
|
|
112,143
|
|
|
159,018
|
|
|
283,775
|
|
|
334,357
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest
expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee
benefits
|
79,671
|
|
|
85,505
|
|
|
95,985
|
|
|
92,466
|
|
|
96,698
|
|
|
261,161
|
|
|
267,812
|
|
Occupancy and
equipment
|
11,979
|
|
|
10,812
|
|
|
11,781
|
|
|
12,709
|
|
|
13,805
|
|
|
34,572
|
|
|
39,640
|
|
Data processing and
communications expenses
|
10,681
|
|
|
11,877
|
|
|
11,884
|
|
|
11,323
|
|
|
12,226
|
|
|
34,442
|
|
|
34,694
|
|
Credit
resolution-related expenses(1)
|
377
|
|
|
622
|
|
|
547
|
|
|
1,156
|
|
|
802
|
|
|
1,546
|
|
|
3,950
|
|
Advertising and
marketing
|
2,676
|
|
|
1,946
|
|
|
1,431
|
|
|
3,267
|
|
|
966
|
|
|
6,053
|
|
|
4,779
|
|
Amortization of
intangible assets
|
3,387
|
|
|
4,065
|
|
|
4,126
|
|
|
4,190
|
|
|
4,190
|
|
|
11,578
|
|
|
15,422
|
|
Merger and conversion
charges
|
183
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(44)
|
|
|
183
|
|
|
1,391
|
|
Other noninterest
expenses
|
28,242
|
|
|
20,934
|
|
|
23,044
|
|
|
26,005
|
|
|
25,049
|
|
|
72,220
|
|
|
79,825
|
|
Total noninterest
expense
|
137,196
|
|
|
135,761
|
|
|
148,798
|
|
|
151,116
|
|
|
153,692
|
|
|
421,755
|
|
|
447,513
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before
income tax expense
|
110,702
|
|
|
115,189
|
|
|
162,743
|
|
|
125,993
|
|
|
150,182
|
|
|
388,634
|
|
|
214,251
|
|
Income tax
expense
|
29,022
|
|
|
26,862
|
|
|
37,781
|
|
|
31,708
|
|
|
34,037
|
|
|
93,665
|
|
|
46,548
|
|
Net
income
|
$
|
81,680
|
|
|
$
|
88,327
|
|
|
$
|
124,962
|
|
|
$
|
94,285
|
|
|
$
|
116,145
|
|
|
$
|
294,969
|
|
|
$
|
167,703
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings
per common share
|
$
|
1.17
|
|
|
$
|
1.27
|
|
|
$
|
1.79
|
|
|
$
|
1.36
|
|
|
$
|
1.67
|
|
|
$
|
4.23
|
|
|
$
|
2.42
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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
|
|
Three Months
Ended
|
|
Sep
|
|
Jun
|
|
Mar
|
|
Dec
|
|
Sep
|
(dollars in
thousands)
|
2021
|
|
2021
|
|
2021
|
|
2020
|
|
2020
|
Assets
|
|
|
|
|
|
|
|
|
|
Cash and due from
banks
|
$
|
239,028
|
|
|
$
|
259,729
|
|
|
$
|
224,159
|
|
|
$
|
203,349
|
|
|
$
|
257,026
|
|
Federal funds sold
and interest-bearing deposits in banks
|
3,513,412
|
|
|
3,044,795
|
|
|
2,534,969
|
|
|
1,913,957
|
|
|
494,765
|
|
Time deposits in
other banks
|
—
|
|
|
—
|
|
|
249
|
|
|
249
|
|
|
249
|
|
Investment securities
available-for-sale, at fair value
|
684,504
|
|
|
778,167
|
|
|
859,652
|
|
|
982,879
|
|
|
1,117,436
|
|
Investment securities
held-to-maturity, at amortized cost
|
64,451
|
|
|
29,055
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Other
investments
|
27,619
|
|
|
27,621
|
|
|
27,620
|
|
|
28,202
|
|
|
47,329
|
|
Loans held for
sale
|
1,435,805
|
|
|
1,210,589
|
|
|
1,509,528
|
|
|
1,167,659
|
|
|
1,414,889
|
|
|
|
|
|
|
|
|
|
|
|
Loans, net of
unearned income
|
14,824,539
|
|
|
14,780,791
|
|
|
14,599,805
|
|
|
14,480,925
|
|
|
14,943,593
|
|
Allowance for credit
losses
|
(171,213)
|
|
|
(175,070)
|
|
|
(178,570)
|
|
|
(199,422)
|
|
|
(231,924)
|
|
Loans, net
|
14,653,326
|
|
|
14,605,721
|
|
|
14,421,235
|
|
|
14,281,503
|
|
|
14,711,669
|
|
|
|
|
|
|
|
|
|
|
|
Other real estate
owned
|
4,594
|
|
|
5,775
|
|
|
8,841
|
|
|
11,880
|
|
|
17,969
|
|
Premises and
equipment, net
|
226,430
|
|
|
229,994
|
|
|
231,550
|
|
|
222,890
|
|
|
231,278
|
|
Goodwill
|
928,005
|
|
|
928,005
|
|
|
928,005
|
|
|
928,005
|
|
|
928,005
|
|
Other intangible
assets, net
|
60,396
|
|
|
63,783
|
|
|
67,848
|
|
|
71,974
|
|
|
76,164
|
|
Cash value of bank
owned life insurance
|
279,389
|
|
|
277,839
|
|
|
176,575
|
|
|
176,467
|
|
|
175,605
|
|
Deferred income
taxes, net
|
4,329
|
|
|
9,081
|
|
|
22,367
|
|
|
33,314
|
|
|
53,039
|
|
Other
assets
|
411,853
|
|
|
416,777
|
|
|
414,529
|
|
|
416,310
|
|
|
348,428
|
|
Total
assets
|
$
|
22,533,141
|
|
|
$
|
21,886,931
|
|
|
$
|
21,427,127
|
|
|
$
|
20,438,638
|
|
|
$
|
19,873,851
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
|
Deposits
|
|
|
|
|
|
|
|
|
|
Noninterest-bearing
|
$
|
7,616,728
|
|
|
$
|
6,983,761
|
|
|
$
|
6,804,776
|
|
|
$
|
6,151,070
|
|
|
$
|
5,909,316
|
|
Interest-bearing
|
11,216,761
|
|
|
11,274,236
|
|
|
11,071,097
|
|
|
10,806,753
|
|
|
10,154,490
|
|
Total
deposits
|
18,833,489
|
|
|
18,257,997
|
|
|
17,875,873
|
|
|
16,957,823
|
|
|
16,063,806
|
|
Federal funds
purchased and securities sold under agreements to
repurchase
|
4,502
|
|
|
5,544
|
|
|
9,320
|
|
|
11,641
|
|
|
9,103
|
|
Other
borrowings
|
425,375
|
|
|
425,303
|
|
|
425,231
|
|
|
425,155
|
|
|
875,255
|
|
Subordinated
deferrable interest debentures
|
125,830
|
|
|
125,331
|
|
|
124,833
|
|
|
124,345
|
|
|
123,860
|
|
FDIC loss-share
payable, net
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
19,476
|
|
Other
liabilities
|
243,175
|
|
|
235,752
|
|
|
234,274
|
|
|
272,586
|
|
|
217,668
|
|
Total
liabilities
|
19,632,371
|
|
|
19,049,927
|
|
|
18,669,531
|
|
|
17,791,550
|
|
|
17,309,168
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders'
Equity
|
|
|
|
|
|
|
|
|
|
Preferred
stock
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Common
stock
|
72,016
|
|
|
72,008
|
|
|
71,954
|
|
|
71,754
|
|
|
71,703
|
|
Capital
stock
|
1,922,964
|
|
|
1,920,566
|
|
|
1,917,990
|
|
|
1,913,285
|
|
|
1,911,031
|
|
Retained
earnings
|
934,979
|
|
|
863,828
|
|
|
785,984
|
|
|
671,510
|
|
|
587,657
|
|
Accumulated other
comprehensive income, net of tax
|
21,885
|
|
|
25,024
|
|
|
26,090
|
|
|
33,505
|
|
|
37,252
|
|
Treasury
stock
|
(51,074)
|
|
|
(44,422)
|
|
|
(44,422)
|
|
|
(42,966)
|
|
|
(42,960)
|
|
Total
shareholders' equity
|
2,900,770
|
|
|
2,837,004
|
|
|
2,757,596
|
|
|
2,647,088
|
|
|
2,564,683
|
|
Total liabilities
and shareholders' equity
|
$
|
22,533,141
|
|
|
$
|
21,886,931
|
|
|
$
|
21,427,127
|
|
|
$
|
20,438,638
|
|
|
$
|
19,873,851
|
|
|
|
|
|
|
|
|
|
|
|
Other
Data
|
|
|
|
|
|
|
|
|
|
Earning
assets
|
$
|
20,550,330
|
|
|
$
|
19,871,018
|
|
|
$
|
19,531,823
|
|
|
$
|
18,573,871
|
|
|
$
|
18,018,261
|
|
Intangible
assets
|
988,401
|
|
|
991,788
|
|
|
995,853
|
|
|
999,979
|
|
|
1,004,169
|
|
Interest-bearing
liabilities
|
11,772,468
|
|
|
11,830,414
|
|
|
11,630,481
|
|
|
11,367,894
|
|
|
11,162,708
|
|
Average
assets
|
22,087,642
|
|
|
21,538,894
|
|
|
20,734,414
|
|
|
19,876,338
|
|
|
19,810,084
|
|
Average common
shareholders' equity
|
2,874,691
|
|
|
2,798,269
|
|
|
2,695,005
|
|
|
2,622,942
|
|
|
2,529,471
|
|
AMERIS BANCORP AND
SUBSIDIARIES
|
FINANCIAL
TABLES
|
|
|
|
|
|
Asset Quality
Information
|
Table
4
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
Sep
|
|
Jun
|
|
Mar
|
|
Dec
|
|
Sep
|
|
Sep
|
|
Sep
|
(dollars in
thousands)
|
2021
|
|
2021
|
|
2021
|
|
2020
|
|
2020
|
|
2021
|
|
2020
|
Allowance for
Credit Losses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning
of period
|
$
|
197,782
|
|
|
$
|
200,241
|
|
|
$
|
233,105
|
|
|
$
|
260,417
|
|
|
$
|
246,295
|
|
|
$
|
233,105
|
|
|
$
|
39,266
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CECL adoption impact
on allowance for loan losses
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
78,661
|
|
CECL adoption impact
on allowance for unfunded commitments
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
12,714
|
|
Total CECL adoption
impact
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
91,375
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acquired allowance for
unfunded commitments
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for loan
losses
|
(3,984)
|
|
|
(899)
|
|
|
(16,579)
|
|
|
(6,700)
|
|
|
26,692
|
|
|
(21,462)
|
|
|
132,188
|
|
Provision for unfunded
commitments
|
(5,516)
|
|
|
1,299
|
|
|
(11,839)
|
|
|
5,481
|
|
|
(10,131)
|
|
|
(16,056)
|
|
|
13,581
|
|
Provision for other
credit losses
|
(175)
|
|
|
(258)
|
|
|
(173)
|
|
|
(291)
|
|
|
1,121
|
|
|
(606)
|
|
|
1,121
|
|
Provision for credit
losses
|
(9,675)
|
|
|
142
|
|
|
(28,591)
|
|
|
(1,510)
|
|
|
17,682
|
|
|
(38,124)
|
|
|
146,890
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Charge-offs
|
3,537
|
|
|
7,138
|
|
|
7,574
|
|
|
29,094
|
|
|
7,370
|
|
|
18,249
|
|
|
25,370
|
|
Recoveries
|
3,664
|
|
|
4,537
|
|
|
3,301
|
|
|
3,292
|
|
|
3,810
|
|
|
11,502
|
|
|
8,256
|
|
Net
charge-offs
|
(127)
|
|
|
2,601
|
|
|
4,273
|
|
|
25,802
|
|
|
3,560
|
|
|
6,747
|
|
|
17,114
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending
balance
|
$
|
188,234
|
|
|
$
|
197,782
|
|
|
$
|
200,241
|
|
|
$
|
233,105
|
|
|
$
|
260,417
|
|
|
$
|
188,234
|
|
|
$
|
260,417
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan
losses
|
$
|
171,213
|
|
|
$
|
175,070
|
|
|
$
|
178,570
|
|
|
$
|
199,422
|
|
|
$
|
231,924
|
|
|
$
|
171,213
|
|
|
$
|
231,924
|
|
Allowance for unfunded
commitments
|
16,797
|
|
|
22,313
|
|
|
21,014
|
|
|
32,853
|
|
|
27,372
|
|
|
16,797
|
|
|
27,372
|
|
Allowance for other
credit losses
|
224
|
|
|
399
|
|
|
657
|
|
|
830
|
|
|
1,121
|
|
|
224
|
|
|
1,121
|
|
Total allowance for
credit losses
|
$
|
188,234
|
|
|
$
|
197,782
|
|
|
$
|
200,241
|
|
|
$
|
233,105
|
|
|
$
|
260,417
|
|
|
$
|
188,234
|
|
|
$
|
260,417
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
Charge-off Information
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Charge-offs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial, financial
and agricultural
|
$
|
858
|
|
|
$
|
3,529
|
|
|
$
|
2,370
|
|
|
$
|
5,960
|
|
|
$
|
1,715
|
|
|
$
|
6,757
|
|
|
$
|
4,687
|
|
Consumer
installment
|
1,647
|
|
|
1,669
|
|
|
1,448
|
|
|
2,861
|
|
|
677
|
|
|
4,764
|
|
|
2,781
|
|
Indirect
automobile
|
178
|
|
|
141
|
|
|
829
|
|
|
658
|
|
|
697
|
|
|
1,148
|
|
|
2,944
|
|
Premium
Finance
|
605
|
|
|
1,194
|
|
|
1,343
|
|
|
2,240
|
|
|
1,158
|
|
|
3,142
|
|
|
3,893
|
|
Real estate -
construction and development
|
—
|
|
|
186
|
|
|
26
|
|
|
—
|
|
|
9
|
|
|
212
|
|
|
83
|
|
Real estate -
commercial and farmland
|
210
|
|
|
27
|
|
|
1,395
|
|
|
17,284
|
|
|
2,977
|
|
|
1,632
|
|
|
10,220
|
|
Real estate -
residential
|
39
|
|
|
392
|
|
|
163
|
|
|
91
|
|
|
137
|
|
|
594
|
|
|
762
|
|
Total
charge-offs
|
3,537
|
|
|
7,138
|
|
|
7,574
|
|
|
29,094
|
|
|
7,370
|
|
|
18,249
|
|
|
25,370
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Recoveries
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial, financial
and agricultural
|
1,986
|
|
|
625
|
|
|
727
|
|
|
754
|
|
|
470
|
|
|
3,338
|
|
|
1,135
|
|
Consumer
installment
|
199
|
|
|
212
|
|
|
356
|
|
|
480
|
|
|
516
|
|
|
767
|
|
|
1,273
|
|
Indirect
automobile
|
278
|
|
|
372
|
|
|
700
|
|
|
637
|
|
|
317
|
|
|
1,350
|
|
|
1,020
|
|
Premium
Finance
|
649
|
|
|
2,466
|
|
|
1,122
|
|
|
605
|
|
|
1,224
|
|
|
4,237
|
|
|
2,584
|
|
Real estate -
construction and development
|
45
|
|
|
84
|
|
|
167
|
|
|
125
|
|
|
182
|
|
|
296
|
|
|
692
|
|
Real estate -
commercial and farmland
|
266
|
|
|
185
|
|
|
41
|
|
|
439
|
|
|
904
|
|
|
492
|
|
|
1,010
|
|
Real estate -
residential
|
241
|
|
|
593
|
|
|
188
|
|
|
252
|
|
|
197
|
|
|
1,022
|
|
|
542
|
|
Total
recoveries
|
3,664
|
|
|
4,537
|
|
|
3,301
|
|
|
3,292
|
|
|
3,810
|
|
|
11,502
|
|
|
8,256
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
charge-offs
|
$
|
(127)
|
|
|
$
|
2,601
|
|
|
$
|
4,273
|
|
|
$
|
25,802
|
|
|
$
|
3,560
|
|
|
$
|
6,747
|
|
|
$
|
17,114
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Performing
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonaccrual
loans
|
$
|
58,932
|
|
|
$
|
59,921
|
|
|
$
|
71,189
|
|
|
$
|
76,457
|
|
|
$
|
138,163
|
|
|
$
|
58,932
|
|
|
$
|
138,163
|
|
Other real estate
owned
|
4,594
|
|
|
5,775
|
|
|
8,841
|
|
|
11,880
|
|
|
17,969
|
|
|
4,594
|
|
|
17,969
|
|
Repossessed
assets
|
152
|
|
|
226
|
|
|
840
|
|
|
544
|
|
|
258
|
|
|
152
|
|
|
258
|
|
Accruing loans
delinquent 90 days or more
|
7,472
|
|
|
4,874
|
|
|
5,097
|
|
|
8,326
|
|
|
7,003
|
|
|
7,472
|
|
|
7,003
|
|
Total non-performing
assets
|
$
|
71,150
|
|
|
$
|
70,796
|
|
|
$
|
85,967
|
|
|
$
|
97,207
|
|
|
$
|
163,393
|
|
|
$
|
71,150
|
|
|
$
|
163,393
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset Quality
Ratios
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-performing assets
as a percent of total assets
|
0.32
|
%
|
|
0.32
|
%
|
|
0.40
|
%
|
|
0.48
|
%
|
|
0.82
|
%
|
|
0.32
|
%
|
|
0.82
|
%
|
Net charge-offs as a
percent of average loans (annualized)
|
—
|
%
|
|
0.07
|
%
|
|
0.12
|
%
|
|
0.70
|
%
|
|
0.10
|
%
|
|
0.06
|
%
|
|
0.17
|
%
|
AMERIS BANCORP AND
SUBSIDIARIES
|
FINANCIAL
TABLES
|
|
Loan
Information
|
Table
5
|
|
Sep
|
|
Jun
|
|
Mar
|
|
Dec
|
|
Sep
|
(dollars in
thousands)
|
2021
|
|
2021
|
|
2021
|
|
2020
|
|
2020
|
Loans by
Type
|
|
|
|
|
|
|
|
|
|
Commercial, financial
and agricultural
|
$
|
1,217,575
|
|
|
$
|
1,406,421
|
|
|
$
|
1,611,029
|
|
|
$
|
1,627,477
|
|
|
$
|
1,879,788
|
|
Consumer
installment
|
207,111
|
|
|
229,411
|
|
|
257,097
|
|
|
306,995
|
|
|
450,810
|
|
Indirect
automobile
|
325,057
|
|
|
397,373
|
|
|
482,637
|
|
|
580,083
|
|
|
682,396
|
|
Mortgage
warehouse
|
768,577
|
|
|
841,347
|
|
|
880,216
|
|
|
916,353
|
|
|
995,942
|
|
Municipal
|
624,430
|
|
|
647,578
|
|
|
659,228
|
|
|
659,403
|
|
|
725,669
|
|
Premium
Finance
|
840,737
|
|
|
780,328
|
|
|
706,379
|
|
|
687,841
|
|
|
710,890
|
|
Real estate -
construction and development
|
1,454,824
|
|
|
1,527,883
|
|
|
1,533,234
|
|
|
1,606,710
|
|
|
1,628,255
|
|
Real estate -
commercial and farmland
|
6,409,704
|
|
|
6,051,472
|
|
|
5,616,826
|
|
|
5,300,006
|
|
|
5,116,252
|
|
Real estate -
residential
|
2,976,524
|
|
|
2,898,978
|
|
|
2,853,159
|
|
|
2,796,057
|
|
|
2,753,591
|
|
Total
loans
|
$
|
14,824,539
|
|
|
$
|
14,780,791
|
|
|
$
|
14,599,805
|
|
|
$
|
14,480,925
|
|
|
$
|
14,943,593
|
|
|
|
|
|
|
|
|
|
|
|
Troubled Debt
Restructurings
|
|
|
|
|
|
|
|
|
|
Accruing troubled
debt restructurings
|
|
|
|
|
|
|
|
|
|
Commercial, financial
and agricultural
|
$
|
1,683
|
|
|
$
|
1,038
|
|
|
$
|
930
|
|
|
$
|
521
|
|
|
$
|
459
|
|
Consumer
installment
|
22
|
|
|
28
|
|
|
27
|
|
|
32
|
|
|
36
|
|
Indirect
automobile
|
1,284
|
|
|
1,647
|
|
|
1,931
|
|
|
2,277
|
|
|
2,689
|
|
Real estate -
construction and development
|
887
|
|
|
898
|
|
|
501
|
|
|
506
|
|
|
510
|
|
Real estate -
commercial and farmland
|
43,895
|
|
|
46,025
|
|
|
43,398
|
|
|
36,707
|
|
|
73,763
|
|
Real estate -
residential
|
29,521
|
|
|
31,570
|
|
|
33,324
|
|
|
38,800
|
|
|
28,777
|
|
Total accruing
troubled debt restructurings
|
$
|
77,292
|
|
|
$
|
81,206
|
|
|
$
|
80,111
|
|
|
$
|
78,843
|
|
|
$
|
106,234
|
|
Nonaccrual troubled
debt restructurings
|
|
|
|
|
|
|
|
|
|
Commercial, financial
and agricultural
|
$
|
112
|
|
|
$
|
805
|
|
|
$
|
854
|
|
|
$
|
849
|
|
|
$
|
1,002
|
|
Consumer
installment
|
38
|
|
|
43
|
|
|
53
|
|
|
56
|
|
|
64
|
|
Indirect
automobile
|
297
|
|
|
301
|
|
|
321
|
|
|
461
|
|
|
482
|
|
Real estate -
construction and development
|
271
|
|
|
301
|
|
|
706
|
|
|
707
|
|
|
709
|
|
Real estate -
commercial and farmland
|
6,715
|
|
|
7,103
|
|
|
2,233
|
|
|
1,401
|
|
|
19,942
|
|
Real estate -
residential
|
2,687
|
|
|
2,515
|
|
|
2,818
|
|
|
2,671
|
|
|
4,477
|
|
Total nonaccrual
troubled debt restructurings
|
$
|
10,120
|
|
|
$
|
11,068
|
|
|
$
|
6,985
|
|
|
$
|
6,145
|
|
|
$
|
26,676
|
|
Total
troubled debt restructurings
|
$
|
87,412
|
|
|
$
|
92,274
|
|
|
$
|
87,096
|
|
|
$
|
84,988
|
|
|
$
|
132,910
|
|
|
|
|
|
|
|
|
|
|
|
Loans by Risk
Grade
|
|
|
|
|
|
|
|
|
|
Grades 1 through 5 -
Pass
|
$
|
14,562,058
|
|
|
$
|
14,477,905
|
|
|
$
|
14,204,219
|
|
|
$
|
14,109,418
|
|
|
$
|
14,506,555
|
|
Grade 6 - Other assets
especially mentioned
|
87,757
|
|
|
100,750
|
|
|
135,213
|
|
|
108,541
|
|
|
151,501
|
|
Grade 7 -
Substandard
|
174,724
|
|
|
202,134
|
|
|
260,369
|
|
|
262,947
|
|
|
285,537
|
|
Grade 8 -
Doubtful
|
—
|
|
|
—
|
|
|
—
|
|
|
19
|
|
|
—
|
|
Grade 9 -
Loss
|
—
|
|
|
2
|
|
|
4
|
|
|
—
|
|
|
—
|
|
Total
loans
|
$
|
14,824,539
|
|
|
$
|
14,780,791
|
|
|
$
|
14,599,805
|
|
|
$
|
14,480,925
|
|
|
$
|
14,943,593
|
|
AMERIS BANCORP AND
SUBSIDIARIES
|
FINANCIAL
TABLES
|
|
|
|
|
|
Average
Balances
|
Table
6
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
Sep
|
|
Jun
|
|
Mar
|
|
Dec
|
|
Sep
|
|
Sep
|
|
Sep
|
(dollars in
thousands)
|
2021
|
|
2021
|
|
2021
|
|
2020
|
|
2020
|
|
2021
|
|
2020
|
Earning
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal funds
sold
|
$
|
20,000
|
|
|
$
|
20,000
|
|
|
$
|
20,000
|
|
|
$
|
20,000
|
|
|
$
|
20,004
|
|
|
$
|
20,000
|
|
|
$
|
23,868
|
|
Interest-bearing
deposits in banks
|
3,082,413
|
|
|
2,461,092
|
|
|
2,145,403
|
|
|
879,481
|
|
|
467,188
|
|
|
2,566,401
|
|
|
428,386
|
|
Time deposits in other
banks
|
—
|
|
|
244
|
|
|
249
|
|
|
249
|
|
|
249
|
|
|
163
|
|
|
249
|
|
Investment securities
- taxable
|
757,278
|
|
|
811,234
|
|
|
910,834
|
|
|
1,024,335
|
|
|
1,160,585
|
|
|
825,886
|
|
|
1,267,015
|
|
Investment securities
- nontaxable
|
19,053
|
|
|
18,225
|
|
|
19,225
|
|
|
20,112
|
|
|
21,619
|
|
|
18,834
|
|
|
22,010
|
|
Other
investments
|
27,622
|
|
|
27,620
|
|
|
27,516
|
|
|
31,552
|
|
|
64,656
|
|
|
27,586
|
|
|
72,561
|
|
Loans held for
sale
|
1,497,320
|
|
|
1,705,167
|
|
|
1,284,821
|
|
|
1,281,762
|
|
|
1,507,481
|
|
|
1,496,548
|
|
|
1,569,337
|
|
Loans
|
14,685,878
|
|
|
14,549,104
|
|
|
14,453,975
|
|
|
14,752,664
|
|
|
14,688,317
|
|
|
14,563,835
|
|
|
13,772,102
|
|
Total Earning
Assets
|
$
|
20,089,564
|
|
|
$
|
19,592,686
|
|
|
$
|
18,862,023
|
|
|
$
|
18,010,155
|
|
|
$
|
17,930,099
|
|
|
$
|
19,519,253
|
|
|
$
|
17,155,528
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-bearing
deposits
|
$
|
7,168,717
|
|
|
$
|
6,874,471
|
|
|
$
|
6,412,268
|
|
|
$
|
5,970,672
|
|
|
$
|
5,782,163
|
|
|
$
|
6,821,256
|
|
|
$
|
4,977,833
|
|
NOW
accounts
|
3,447,909
|
|
|
3,314,334
|
|
|
3,182,245
|
|
|
2,968,596
|
|
|
2,718,315
|
|
|
3,315,803
|
|
|
2,483,383
|
|
MMDA
|
4,966,492
|
|
|
4,872,500
|
|
|
4,761,279
|
|
|
4,534,243
|
|
|
4,273,899
|
|
|
4,867,509
|
|
|
4,167,207
|
|
Savings
accounts
|
908,189
|
|
|
876,887
|
|
|
823,039
|
|
|
793,414
|
|
|
749,314
|
|
|
869,684
|
|
|
695,238
|
|
Retail CDs
|
1,919,184
|
|
|
2,005,265
|
|
|
2,066,410
|
|
|
2,109,600
|
|
|
2,274,150
|
|
|
1,996,413
|
|
|
2,455,833
|
|
Brokered
CDs
|
511
|
|
|
1,000
|
|
|
1,000
|
|
|
1,140
|
|
|
1,933
|
|
|
835
|
|
|
21,650
|
|
Total
Deposits
|
18,411,002
|
|
|
17,944,457
|
|
|
17,246,241
|
|
|
16,377,665
|
|
|
15,799,774
|
|
|
17,871,500
|
|
|
14,801,144
|
|
Non-Deposit
Funding
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal funds
purchased and securities sold under agreements to
repurchase
|
5,133
|
|
|
6,883
|
|
|
9,284
|
|
|
9,929
|
|
|
10,483
|
|
|
7,085
|
|
|
12,849
|
|
FHLB
advances
|
48,866
|
|
|
48,910
|
|
|
48,951
|
|
|
127,797
|
|
|
799,034
|
|
|
48,909
|
|
|
1,091,885
|
|
Other
borrowings
|
376,489
|
|
|
376,376
|
|
|
376,260
|
|
|
376,295
|
|
|
272,443
|
|
|
376,376
|
|
|
270,407
|
|
Subordinated
deferrable interest debentures
|
125,567
|
|
|
125,068
|
|
|
124,574
|
|
|
124,091
|
|
|
123,604
|
|
|
125,073
|
|
|
124,814
|
|
Total Non-Deposit
Funding
|
556,055
|
|
|
557,237
|
|
|
559,069
|
|
|
638,112
|
|
|
1,205,564
|
|
|
557,443
|
|
|
1,499,955
|
|
Total
Funding
|
$
|
18,967,057
|
|
|
$
|
18,501,694
|
|
|
$
|
17,805,310
|
|
|
$
|
17,015,777
|
|
|
$
|
17,005,338
|
|
|
$
|
18,428,943
|
|
|
$
|
16,301,099
|
|
AMERIS BANCORP AND
SUBSIDIARIES
|
FINANCIAL
TABLES
|
|
|
|
|
|
Interest Income
and Interest Expense (TE)
|
Table
7
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
Sep
|
|
Jun
|
|
Mar
|
|
Dec
|
|
Sep
|
|
Sep
|
|
Sep
|
(dollars in
thousands)
|
2021
|
|
2021
|
|
2021
|
|
2020
|
|
2020
|
|
2021
|
|
2020
|
Interest
Income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal funds
sold
|
$
|
9
|
|
|
$
|
12
|
|
|
$
|
12
|
|
|
$
|
13
|
|
|
$
|
13
|
|
|
$
|
33
|
|
|
$
|
134
|
|
Interest-bearing
deposits in banks
|
1,244
|
|
|
594
|
|
|
521
|
|
|
251
|
|
|
152
|
|
|
2,359
|
|
|
1,484
|
|
Time deposits in other
banks
|
—
|
|
|
1
|
|
|
1
|
|
|
1
|
|
|
1
|
|
|
2
|
|
|
3
|
|
Investment securities
- taxable
|
5,296
|
|
|
5,244
|
|
|
6,118
|
|
|
6,398
|
|
|
7,260
|
|
|
16,658
|
|
|
26,688
|
|
Investment securities
- nontaxable (TE)
|
176
|
|
|
176
|
|
|
178
|
|
|
190
|
|
|
202
|
|
|
530
|
|
|
599
|
|
Loans held for
sale
|
10,618
|
|
|
11,773
|
|
|
10,827
|
|
|
9,705
|
|
|
10,365
|
|
|
33,218
|
|
|
38,055
|
|
Loans (TE)
|
156,861
|
|
|
157,112
|
|
|
161,473
|
|
|
163,532
|
|
|
163,352
|
|
|
475,446
|
|
|
484,605
|
|
Total Earning
Assets
|
$
|
174,204
|
|
|
$
|
174,912
|
|
|
$
|
179,130
|
|
|
$
|
180,090
|
|
|
$
|
181,345
|
|
|
$
|
528,246
|
|
|
$
|
551,568
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accretion income
(included above)
|
$
|
2,948
|
|
|
$
|
4,462
|
|
|
$
|
6,127
|
|
|
$
|
4,688
|
|
|
$
|
6,525
|
|
|
$
|
13,537
|
|
|
$
|
22,663
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
Expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-Bearing
Deposits
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NOW
accounts
|
$
|
808
|
|
|
$
|
816
|
|
|
$
|
926
|
|
|
$
|
1,091
|
|
|
$
|
1,394
|
|
|
$
|
2,550
|
|
|
$
|
5,433
|
|
MMDA
|
1,970
|
|
|
1,908
|
|
|
1,998
|
|
|
2,326
|
|
|
2,823
|
|
|
5,876
|
|
|
16,335
|
|
Savings
accounts
|
129
|
|
|
122
|
|
|
124
|
|
|
143
|
|
|
112
|
|
|
375
|
|
|
416
|
|
Retail CDs
|
2,195
|
|
|
2,921
|
|
|
3,744
|
|
|
5,301
|
|
|
7,484
|
|
|
8,860
|
|
|
27,684
|
|
Brokered
CDs
|
4
|
|
|
8
|
|
|
6
|
|
|
9
|
|
|
9
|
|
|
18
|
|
|
329
|
|
Total
Interest-Bearing Deposits
|
5,106
|
|
|
5,775
|
|
|
6,798
|
|
|
8,870
|
|
|
11,822
|
|
|
17,679
|
|
|
50,197
|
|
Non-Deposit
Funding
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal funds
purchased and securities sold under agreements to
repurchase
|
4
|
|
|
5
|
|
|
7
|
|
|
8
|
|
|
9
|
|
|
16
|
|
|
74
|
|
FHLB
advances
|
195
|
|
|
193
|
|
|
192
|
|
|
245
|
|
|
661
|
|
|
580
|
|
|
7,456
|
|
Other
borrowings
|
4,640
|
|
|
4,683
|
|
|
4,638
|
|
|
4,635
|
|
|
3,558
|
|
|
13,961
|
|
|
10,556
|
|
Subordinated
deferrable interest debentures
|
1,440
|
|
|
1,243
|
|
|
1,338
|
|
|
1,569
|
|
|
1,346
|
|
|
4,021
|
|
|
5,140
|
|
Total Non-Deposit
Funding
|
6,279
|
|
|
6,124
|
|
|
6,175
|
|
|
6,457
|
|
|
5,574
|
|
|
18,578
|
|
|
23,226
|
|
Total
Interest-Bearing Funding
|
$
|
11,385
|
|
|
$
|
11,899
|
|
|
$
|
12,973
|
|
|
$
|
15,327
|
|
|
$
|
17,396
|
|
|
$
|
36,257
|
|
|
$
|
73,423
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Interest
Income (TE)
|
$
|
162,819
|
|
|
$
|
163,013
|
|
|
$
|
166,157
|
|
|
$
|
164,763
|
|
|
$
|
163,949
|
|
|
$
|
491,989
|
|
|
$
|
478,145
|
|
AMERIS BANCORP AND
SUBSIDIARIES
|
FINANCIAL
TABLES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Yields(1)
|
Table
8
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
Sep
|
|
Jun
|
|
Mar
|
|
Dec
|
|
Sep
|
|
Sep
|
|
Sep
|
|
2021
|
|
2021
|
|
2021
|
|
2020
|
|
2020
|
|
2021
|
|
2020
|
Earning
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal funds
sold
|
0.18
|
%
|
|
0.24
|
%
|
|
0.24
|
%
|
|
0.26
|
%
|
|
0.26
|
%
|
|
0.22
|
%
|
|
0.75
|
%
|
Interest-bearing
deposits in banks
|
0.16
|
%
|
|
0.10
|
%
|
|
0.10
|
%
|
|
0.11
|
%
|
|
0.13
|
%
|
|
0.12
|
%
|
|
0.46
|
%
|
Time deposits in other
banks
|
—
|
%
|
|
1.64
|
%
|
|
1.63
|
%
|
|
1.60
|
%
|
|
1.60
|
%
|
|
1.64
|
%
|
|
1.61
|
%
|
Investment securities
- taxable
|
2.77
|
%
|
|
2.59
|
%
|
|
2.72
|
%
|
|
2.48
|
%
|
|
2.49
|
%
|
|
2.70
|
%
|
|
2.81
|
%
|
Investment securities
- nontaxable (TE)
|
3.66
|
%
|
|
3.87
|
%
|
|
3.75
|
%
|
|
3.76
|
%
|
|
3.72
|
%
|
|
3.76
|
%
|
|
3.64
|
%
|
Loans held for
sale
|
2.81
|
%
|
|
2.77
|
%
|
|
3.42
|
%
|
|
3.01
|
%
|
|
2.74
|
%
|
|
2.97
|
%
|
|
3.24
|
%
|
Loans (TE)
|
4.24
|
%
|
|
4.33
|
%
|
|
4.53
|
%
|
|
4.41
|
%
|
|
4.42
|
%
|
|
4.36
|
%
|
|
4.70
|
%
|
Total Earning
Assets
|
3.44
|
%
|
|
3.58
|
%
|
|
3.85
|
%
|
|
3.98
|
%
|
|
4.02
|
%
|
|
3.62
|
%
|
|
4.29
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-Bearing
Deposits
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NOW
accounts
|
0.09
|
%
|
|
0.10
|
%
|
|
0.12
|
%
|
|
0.15
|
%
|
|
0.20
|
%
|
|
0.10
|
%
|
|
0.29
|
%
|
MMDA
|
0.16
|
%
|
|
0.16
|
%
|
|
0.17
|
%
|
|
0.20
|
%
|
|
0.26
|
%
|
|
0.16
|
%
|
|
0.52
|
%
|
Savings
accounts
|
0.06
|
%
|
|
0.06
|
%
|
|
0.06
|
%
|
|
0.07
|
%
|
|
0.06
|
%
|
|
0.06
|
%
|
|
0.08
|
%
|
Retail CDs
|
0.45
|
%
|
|
0.58
|
%
|
|
0.73
|
%
|
|
1.00
|
%
|
|
1.31
|
%
|
|
0.59
|
%
|
|
1.51
|
%
|
Brokered
CDs
|
3.11
|
%
|
|
3.21
|
%
|
|
2.43
|
%
|
|
3.14
|
%
|
|
1.85
|
%
|
|
2.88
|
%
|
|
2.03
|
%
|
Total
Interest-Bearing Deposits
|
0.18
|
%
|
|
0.21
|
%
|
|
0.25
|
%
|
|
0.34
|
%
|
|
0.47
|
%
|
|
0.21
|
%
|
|
0.68
|
%
|
Non-Deposit
Funding
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal funds
purchased and securities sold under agreements to
repurchase
|
0.31
|
%
|
|
0.29
|
%
|
|
0.31
|
%
|
|
0.32
|
%
|
|
0.34
|
%
|
|
0.30
|
%
|
|
0.77
|
%
|
FHLB
advances
|
1.58
|
%
|
|
1.58
|
%
|
|
1.59
|
%
|
|
0.76
|
%
|
|
0.33
|
%
|
|
1.59
|
%
|
|
0.91
|
%
|
Other
borrowings
|
4.89
|
%
|
|
4.99
|
%
|
|
5.00
|
%
|
|
4.90
|
%
|
|
5.20
|
%
|
|
4.96
|
%
|
|
5.21
|
%
|
Subordinated
deferrable interest debentures
|
4.55
|
%
|
|
3.99
|
%
|
|
4.36
|
%
|
|
5.03
|
%
|
|
4.33
|
%
|
|
4.30
|
%
|
|
5.50
|
%
|
Total Non-Deposit
Funding
|
4.48
|
%
|
|
4.41
|
%
|
|
4.48
|
%
|
|
4.03
|
%
|
|
1.84
|
%
|
|
4.46
|
%
|
|
2.07
|
%
|
Total
Interest-Bearing Liabilities
|
0.38
|
%
|
|
0.41
|
%
|
|
0.46
|
%
|
|
0.55
|
%
|
|
0.62
|
%
|
|
0.42
|
%
|
|
0.87
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Interest
Spread
|
3.06
|
%
|
|
3.17
|
%
|
|
3.39
|
%
|
|
3.43
|
%
|
|
3.40
|
%
|
|
3.20
|
%
|
|
3.42
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Interest
Margin(2)
|
3.22
|
%
|
|
3.34
|
%
|
|
3.57
|
%
|
|
3.64
|
%
|
|
3.64
|
%
|
|
3.37
|
%
|
|
3.72
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Cost of
Funds(3)
|
0.24
|
%
|
|
0.26
|
%
|
|
0.30
|
%
|
|
0.36
|
%
|
|
0.41
|
%
|
|
0.26
|
%
|
|
0.60
|
%
|
(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
|
|
Nine Months
Ended
|
|
Sep
|
|
Jun
|
|
Mar
|
|
Dec
|
|
Sep
|
|
Sep
|
|
Sep
|
(dollars in
thousands except per share data)
|
2021
|
|
2021
|
|
2021
|
|
2020
|
|
2020
|
|
2021
|
|
2020
|
Net income available
to common shareholders
|
$
|
81,680
|
|
|
$
|
88,327
|
|
|
$
|
124,962
|
|
|
$
|
94,285
|
|
|
$
|
116,145
|
|
|
$
|
294,969
|
|
|
$
|
167,703
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjustment
items:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Merger and conversion
charges
|
183
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(44)
|
|
|
183
|
|
|
1,391
|
|
Restructuring
charges
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
50
|
|
|
—
|
|
|
1,513
|
|
Servicing right
impairment (recovery)
|
1,398
|
|
|
(749)
|
|
|
(10,639)
|
|
|
9,501
|
|
|
412
|
|
|
(9,990)
|
|
|
30,566
|
|
Gain on BOLI
proceeds
|
—
|
|
|
—
|
|
|
(603)
|
|
|
—
|
|
|
(103)
|
|
|
(603)
|
|
|
(948)
|
|
Expenses related to
SEC and DOJ Investigation
|
—
|
|
|
—
|
|
|
—
|
|
|
53
|
|
|
268
|
|
|
—
|
|
|
3,005
|
|
Natural disaster and
pandemic charges (Note 1)
|
—
|
|
|
—
|
|
|
—
|
|
|
235
|
|
|
470
|
|
|
—
|
|
|
3,061
|
|
(Gain) loss on bank
premises
|
1,136
|
|
|
(236)
|
|
|
(264)
|
|
|
(30)
|
|
|
(97)
|
|
|
636
|
|
|
654
|
|
Tax effect of
adjustment items (Note 2)
|
(536)
|
|
|
206
|
|
|
2,290
|
|
|
(2,049)
|
|
|
(222)
|
|
|
1,960
|
|
|
(8,438)
|
|
After tax adjustment
items
|
2,181
|
|
|
(779)
|
|
|
(9,216)
|
|
|
7,710
|
|
|
734
|
|
|
(7,814)
|
|
|
30,804
|
|
Adjusted net
income
|
$
|
83,861
|
|
|
$
|
87,548
|
|
|
$
|
115,746
|
|
|
$
|
101,995
|
|
|
$
|
116,879
|
|
|
$
|
287,155
|
|
|
$
|
198,507
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of shares - diluted
|
69,756,135
|
|
|
69,791,670
|
|
|
69,740,860
|
|
|
69,493,105
|
|
|
69,346,141
|
|
|
69,772,084
|
|
|
69,403,104
|
|
Net income per
diluted share
|
$
|
1.17
|
|
|
$
|
1.27
|
|
|
$
|
1.79
|
|
|
$
|
1.36
|
|
|
$
|
1.67
|
|
|
$
|
4.23
|
|
|
$
|
2.42
|
|
Adjusted net income
per diluted share
|
$
|
1.20
|
|
|
$
|
1.25
|
|
|
$
|
1.66
|
|
|
$
|
1.47
|
|
|
$
|
1.69
|
|
|
$
|
4.12
|
|
|
$
|
2.86
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average
assets
|
$
|
22,087,642
|
|
|
$
|
21,538,894
|
|
|
$
|
20,734,414
|
|
|
$
|
19,876,338
|
|
|
$
|
19,810,084
|
|
|
$
|
21,462,501
|
|
|
$
|
19,045,028
|
|
Return on average
assets
|
1.47
|
%
|
|
1.64
|
%
|
|
2.44
|
%
|
|
1.89
|
%
|
|
2.33
|
%
|
|
1.84
|
%
|
|
1.18
|
%
|
Adjusted return on
average assets
|
1.51
|
%
|
|
1.63
|
%
|
|
2.26
|
%
|
|
2.04
|
%
|
|
2.35
|
%
|
|
1.79
|
%
|
|
1.39
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average common
equity
|
$
|
2,874,691
|
|
|
$
|
2,798,269
|
|
|
$
|
2,695,005
|
|
|
$
|
2,622,942
|
|
|
$
|
2,529,471
|
|
|
$
|
2,789,979
|
|
|
$
|
2,500,689
|
|
Average tangible
common equity
|
$
|
1,884,622
|
|
|
$
|
1,804,324
|
|
|
$
|
1,696,946
|
|
|
$
|
1,620,742
|
|
|
$
|
1,523,066
|
|
|
$
|
1,795,984
|
|
|
$
|
1,486,579
|
|
Return on average
common equity
|
11.27
|
%
|
|
12.66
|
%
|
|
18.80
|
%
|
|
14.30
|
%
|
|
18.27
|
%
|
|
14.14
|
%
|
|
8.96
|
%
|
Adjusted return on
average tangible common equity
|
17.65
|
%
|
|
19.46
|
%
|
|
27.66
|
%
|
|
25.04
|
%
|
|
30.53
|
%
|
|
21.38
|
%
|
|
17.84
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note 1:
Pandemic charges include "thank you" pay for certain employees,
additional sanitizing expenses at our locations, protective
equipment for our employees and branch locations, and additional
equipment required to support our remote workforce.
|
Note 2: Tax
effect is calculated utilizing a 21% rate for taxable
adjustments. Gain on BOLI proceeds is non-taxable and no tax
effect is included. A portion of the merger and conversion
charges for 3Q21, 3Q20 and both year-to-date periods are
nondeductible for tax purposes.
|
AMERIS BANCORP AND
SUBSIDIARIES
|
FINANCIAL
TABLES
|
|
|
|
|
|
Non-GAAP
Reconciliations (continued)
|
|
|
|
|
|
Adjusted
Efficiency Ratio (TE)
|
Table
9B
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
Sep
|
|
Jun
|
|
Mar
|
|
Dec
|
|
Sep
|
|
Sep
|
|
Sep
|
(dollars in
thousands)
|
2021
|
|
2021
|
|
2021
|
|
2020
|
|
2020
|
|
2021
|
|
2020
|
Adjusted
Noninterest Expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total noninterest
expense
|
$
|
137,196
|
|
|
$
|
135,761
|
|
|
$
|
148,798
|
|
|
$
|
151,116
|
|
|
$
|
153,692
|
|
|
$
|
421,755
|
|
|
$
|
447,513
|
|
Adjustment
items:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Merger and conversion
charges
|
(183)
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
44
|
|
|
(183)
|
|
|
(1,391)
|
|
Restructuring
charges
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(50)
|
|
|
—
|
|
|
(1,513)
|
|
Expenses related to
SEC and DOJ Investigation
|
—
|
|
|
—
|
|
|
—
|
|
|
(53)
|
|
|
(268)
|
|
|
—
|
|
|
(3,005)
|
|
Natural disaster and
pandemic charges
|
—
|
|
|
—
|
|
|
—
|
|
|
(235)
|
|
|
(470)
|
|
|
—
|
|
|
(3,061)
|
|
Gain (loss) on bank
premises
|
(1,136)
|
|
|
236
|
|
|
264
|
|
|
30
|
|
|
97
|
|
|
(636)
|
|
|
(654)
|
|
Adjusted noninterest
expense
|
$
|
135,877
|
|
|
$
|
135,997
|
|
|
$
|
149,062
|
|
|
$
|
150,858
|
|
|
$
|
153,045
|
|
|
$
|
420,936
|
|
|
$
|
437,889
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Revenue
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
$
|
161,661
|
|
|
$
|
161,852
|
|
|
$
|
164,977
|
|
|
$
|
163,456
|
|
|
$
|
162,538
|
|
|
$
|
488,490
|
|
|
$
|
474,297
|
|
Noninterest
income
|
76,562
|
|
|
89,240
|
|
|
117,973
|
|
|
112,143
|
|
|
159,018
|
|
|
283,775
|
|
|
334,357
|
|
Total
revenue
|
$
|
238,223
|
|
|
$
|
251,092
|
|
|
$
|
282,950
|
|
|
$
|
275,599
|
|
|
$
|
321,556
|
|
|
$
|
772,265
|
|
|
$
|
808,654
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Total
Revenue
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income
(TE)
|
$
|
162,819
|
|
|
$
|
163,013
|
|
|
$
|
166,157
|
|
|
$
|
164,763
|
|
|
$
|
163,949
|
|
|
$
|
491,989
|
|
|
$
|
478,145
|
|
Noninterest
income
|
76,562
|
|
|
89,240
|
|
|
117,973
|
|
|
112,143
|
|
|
159,018
|
|
|
283,775
|
|
|
334,357
|
|
Total revenue
(TE)
|
239,381
|
|
|
252,253
|
|
|
284,130
|
|
|
276,906
|
|
|
322,967
|
|
|
775,764
|
|
|
812,502
|
|
Adjustment
items:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Gain) loss on
securities
|
(530)
|
|
|
(1)
|
|
|
12
|
|
|
—
|
|
|
—
|
|
|
(519)
|
|
|
(5)
|
|
Gain on BOLI
proceeds
|
—
|
|
|
—
|
|
|
(603)
|
|
|
—
|
|
|
(103)
|
|
|
(603)
|
|
|
(948)
|
|
Servicing right
impairment (recovery)
|
1,398
|
|
|
(749)
|
|
|
(10,639)
|
|
|
9,501
|
|
|
412
|
|
|
(9,990)
|
|
|
30,566
|
|
Adjusted total
revenue (TE)
|
$
|
240,249
|
|
|
$
|
251,503
|
|
|
$
|
272,900
|
|
|
$
|
286,407
|
|
|
$
|
323,276
|
|
|
$
|
764,652
|
|
|
$
|
842,115
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Efficiency
ratio
|
57.59
|
%
|
|
54.07
|
%
|
|
52.59
|
%
|
|
54.83
|
%
|
|
47.80
|
%
|
|
54.61
|
%
|
|
55.34
|
%
|
Adjusted
efficiency ratio (TE)
|
56.56
|
%
|
|
54.07
|
%
|
|
54.62
|
%
|
|
52.67
|
%
|
|
47.34
|
%
|
|
55.05
|
%
|
|
52.00
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tangible Book
Value Per Share
|
Table
9C
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
Sep
|
|
Jun
|
|
Mar
|
|
Dec
|
|
Sep
|
|
Sep
|
|
Sep
|
(dollars in
thousands except per share data)
|
2021
|
|
2021
|
|
2021
|
|
2020
|
|
2020
|
|
2021
|
|
2020
|
Total shareholders'
equity
|
$
|
2,900,770
|
|
|
$
|
2,837,004
|
|
|
$
|
2,757,596
|
|
|
$
|
2,647,088
|
|
|
$
|
2,564,683
|
|
|
$
|
2,900,770
|
|
|
$
|
2,564,683
|
|
Less:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Goodwill
|
928,005
|
|
|
928,005
|
|
|
928,005
|
|
|
928,005
|
|
|
928,005
|
|
|
928,005
|
|
|
928,005
|
|
Other intangibles,
net
|
60,396
|
|
|
63,783
|
|
|
67,848
|
|
|
71,974
|
|
|
76,164
|
|
|
60,396
|
|
|
76,164
|
|
Total tangible
shareholders' equity
|
$
|
1,912,369
|
|
|
$
|
1,845,216
|
|
|
$
|
1,761,743
|
|
|
$
|
1,647,109
|
|
|
$
|
1,560,514
|
|
|
$
|
1,912,369
|
|
|
$
|
1,560,514
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Period end number of
shares
|
69,635,435
|
|
|
69,767,209
|
|
|
69,713,426
|
|
|
69,541,481
|
|
|
69,490,546
|
|
|
69,635,435
|
|
|
69,490,546
|
|
Book value per share
(period end)
|
$
|
41.66
|
|
|
$
|
40.66
|
|
|
$
|
39.56
|
|
|
$
|
38.07
|
|
|
$
|
36.91
|
|
|
$
|
41.66
|
|
|
$
|
36.91
|
|
Tangible book value
per share (period end)
|
$
|
27.46
|
|
|
$
|
26.45
|
|
|
$
|
25.27
|
|
|
$
|
23.69
|
|
|
$
|
22.46
|
|
|
$
|
27.46
|
|
|
$
|
22.46
|
|
AMERIS BANCORP AND
SUBSIDIARIES
|
FINANCIAL
TABLES
|
|
|
|
|
|
Segment
Reporting
|
Table
10
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
Sep
|
|
Jun
|
|
Mar
|
|
Dec
|
|
Sep
|
|
Sep
|
|
Sep
|
(dollars in
thousands)
|
2021
|
|
2021
|
|
2021
|
|
2020
|
|
2020
|
|
2021
|
|
2020
|
Banking
Division
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
$
|
113,524
|
|
|
$
|
110,670
|
|
|
$
|
112,816
|
|
|
$
|
112,964
|
|
|
$
|
119,562
|
|
|
$
|
337,010
|
|
|
$
|
358,267
|
|
Provision for credit
losses
|
(9,578)
|
|
|
(3,949)
|
|
|
(23,904)
|
|
|
1,847
|
|
|
487
|
|
|
(37,431)
|
|
|
123,289
|
|
Noninterest
income
|
17,896
|
|
|
16,171
|
|
|
16,738
|
|
|
15,659
|
|
|
15,265
|
|
|
50,805
|
|
|
47,506
|
|
Noninterest
expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee
benefits
|
40,020
|
|
|
37,814
|
|
|
42,723
|
|
|
38,668
|
|
|
39,718
|
|
|
120,557
|
|
|
121,762
|
|
Occupancy and
equipment expenses
|
10,196
|
|
|
9,050
|
|
|
10,120
|
|
|
10,958
|
|
|
11,955
|
|
|
29,366
|
|
|
33,981
|
|
Data processing and
telecommunications expenses
|
9,159
|
|
|
10,280
|
|
|
10,201
|
|
|
9,608
|
|
|
9,716
|
|
|
29,640
|
|
|
29,432
|
|
Other noninterest
expenses
|
21,723
|
|
|
18,763
|
|
|
19,710
|
|
|
25,806
|
|
|
21,517
|
|
|
60,196
|
|
|
80,159
|
|
Total noninterest
expense
|
81,098
|
|
|
75,907
|
|
|
82,754
|
|
|
85,040
|
|
|
82,906
|
|
|
239,759
|
|
|
265,334
|
|
Income before income
tax expense
|
59,900
|
|
|
54,883
|
|
|
70,704
|
|
|
41,736
|
|
|
51,434
|
|
|
185,487
|
|
|
17,150
|
|
Income tax
expense
|
17,784
|
|
|
14,196
|
|
|
18,456
|
|
|
13,992
|
|
|
13,453
|
|
|
50,436
|
|
|
5,146
|
|
Net income
|
$
|
42,116
|
|
|
$
|
40,687
|
|
|
$
|
52,248
|
|
|
$
|
27,744
|
|
|
$
|
37,981
|
|
|
$
|
135,051
|
|
|
$
|
12,004
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail Mortgage
Division
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
$
|
21,289
|
|
|
$
|
22,533
|
|
|
$
|
18,984
|
|
|
$
|
19,908
|
|
|
$
|
20,393
|
|
|
$
|
62,806
|
|
|
$
|
62,451
|
|
Provision for credit
losses
|
1,678
|
|
|
5,647
|
|
|
(4,553)
|
|
|
(1,621)
|
|
|
15,051
|
|
|
2,772
|
|
|
17,471
|
|
Noninterest
income
|
55,555
|
|
|
69,055
|
|
|
97,640
|
|
|
94,109
|
|
|
137,583
|
|
|
222,250
|
|
|
276,147
|
|
Noninterest
expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee
benefits
|
36,373
|
|
|
44,798
|
|
|
49,838
|
|
|
50,165
|
|
|
53,500
|
|
|
131,009
|
|
|
134,600
|
|
Occupancy and
equipment expenses
|
1,590
|
|
|
1,553
|
|
|
1,476
|
|
|
1,577
|
|
|
1,676
|
|
|
4,619
|
|
|
5,133
|
|
Data processing and
telecommunications expenses
|
1,357
|
|
|
1,435
|
|
|
1,546
|
|
|
1,534
|
|
|
2,349
|
|
|
4,338
|
|
|
4,741
|
|
Other noninterest
expenses
|
11,675
|
|
|
7,638
|
|
|
8,189
|
|
|
7,442
|
|
|
7,889
|
|
|
27,502
|
|
|
20,713
|
|
Total noninterest
expense
|
50,995
|
|
|
55,424
|
|
|
61,049
|
|
|
60,718
|
|
|
65,414
|
|
|
167,468
|
|
|
165,187
|
|
Income before income
tax expense
|
24,171
|
|
|
30,517
|
|
|
60,128
|
|
|
54,920
|
|
|
77,511
|
|
|
114,816
|
|
|
155,940
|
|
Income tax
expense
|
5,076
|
|
|
6,408
|
|
|
12,627
|
|
|
11,535
|
|
|
16,112
|
|
|
24,111
|
|
|
32,751
|
|
Net income
|
$
|
19,095
|
|
|
$
|
24,109
|
|
|
$
|
47,501
|
|
|
$
|
43,385
|
|
|
$
|
61,399
|
|
|
$
|
90,705
|
|
|
$
|
123,189
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Warehouse Lending
Division
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
$
|
8,712
|
|
|
$
|
8,720
|
|
|
$
|
9,906
|
|
|
$
|
9,017
|
|
|
$
|
6,546
|
|
|
$
|
27,338
|
|
|
$
|
14,874
|
|
Provision for credit
losses
|
(291)
|
|
|
(155)
|
|
|
(145)
|
|
|
1,673
|
|
|
495
|
|
|
(591)
|
|
|
889
|
|
Noninterest
income
|
1,037
|
|
|
1,333
|
|
|
980
|
|
|
1,113
|
|
|
1,064
|
|
|
3,350
|
|
|
2,751
|
|
Noninterest
expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee
benefits
|
264
|
|
|
278
|
|
|
330
|
|
|
296
|
|
|
266
|
|
|
872
|
|
|
685
|
|
Occupancy and
equipment expenses
|
—
|
|
|
1
|
|
|
1
|
|
|
1
|
|
|
1
|
|
|
2
|
|
|
3
|
|
Data processing and
telecommunications expenses
|
59
|
|
|
68
|
|
|
49
|
|
|
101
|
|
|
73
|
|
|
176
|
|
|
169
|
|
Other noninterest
expenses
|
200
|
|
|
30
|
|
|
33
|
|
|
26
|
|
|
28
|
|
|
263
|
|
|
150
|
|
Total noninterest
expense
|
523
|
|
|
377
|
|
|
413
|
|
|
424
|
|
|
368
|
|
|
1,313
|
|
|
1,007
|
|
Income before income
tax expense
|
9,517
|
|
|
9,831
|
|
|
10,618
|
|
|
8,033
|
|
|
6,747
|
|
|
29,966
|
|
|
15,729
|
|
Income tax
expense
|
1,999
|
|
|
2,064
|
|
|
2,230
|
|
|
1,687
|
|
|
1,431
|
|
|
6,293
|
|
|
3,317
|
|
Net income
|
$
|
7,518
|
|
|
$
|
7,767
|
|
|
$
|
8,388
|
|
|
$
|
6,346
|
|
|
$
|
5,316
|
|
|
$
|
23,673
|
|
|
$
|
12,412
|
|
AMERIS BANCORP AND
SUBSIDIARIES
|
FINANCIAL
TABLES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment Reporting
(continued)
|
Table
10
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
Sep
|
|
Jun
|
|
Mar
|
|
Dec
|
|
Sep
|
|
Sep
|
|
Sep
|
(dollars in
thousands)
|
2021
|
|
2021
|
|
2021
|
|
2020
|
|
2020
|
|
2021
|
|
2020
|
SBA
Division
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
$
|
10,699
|
|
|
$
|
12,882
|
|
|
$
|
16,635
|
|
|
$
|
14,909
|
|
|
$
|
8,966
|
|
|
$
|
40,216
|
|
|
$
|
18,181
|
|
Provision for credit
losses
|
(1,104)
|
|
|
(607)
|
|
|
(547)
|
|
|
(2,997)
|
|
|
4,297
|
|
|
(2,258)
|
|
|
5,716
|
|
Noninterest
income
|
2,070
|
|
|
2,677
|
|
|
2,611
|
|
|
1,247
|
|
|
5,106
|
|
|
7,358
|
|
|
7,953
|
|
Noninterest
expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee
benefits
|
1,320
|
|
|
937
|
|
|
1,382
|
|
|
1,233
|
|
|
1,572
|
|
|
3,639
|
|
|
5,660
|
|
Occupancy and
equipment expenses
|
116
|
|
|
132
|
|
|
106
|
|
|
100
|
|
|
97
|
|
|
354
|
|
|
291
|
|
Data processing and
telecommunications expenses
|
18
|
|
|
—
|
|
|
1
|
|
|
1
|
|
|
4
|
|
|
19
|
|
|
32
|
|
Other noninterest
expenses
|
370
|
|
|
284
|
|
|
295
|
|
|
363
|
|
|
595
|
|
|
949
|
|
|
1,469
|
|
Total noninterest
expense
|
1,824
|
|
|
1,353
|
|
|
1,784
|
|
|
1,697
|
|
|
2,268
|
|
|
4,961
|
|
|
7,452
|
|
Income before income
tax expense
|
12,049
|
|
|
14,813
|
|
|
18,009
|
|
|
17,456
|
|
|
7,507
|
|
|
44,871
|
|
|
12,966
|
|
Income tax
expense
|
2,530
|
|
|
3,111
|
|
|
3,782
|
|
|
3,666
|
|
|
1,577
|
|
|
9,423
|
|
|
2,723
|
|
Net income
|
$
|
9,519
|
|
|
$
|
11,702
|
|
|
$
|
14,227
|
|
|
$
|
13,790
|
|
|
$
|
5,930
|
|
|
$
|
35,448
|
|
|
$
|
10,243
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Premium Finance
Division
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
$
|
7,437
|
|
|
$
|
7,047
|
|
|
$
|
6,636
|
|
|
$
|
6,658
|
|
|
$
|
7,071
|
|
|
$
|
21,120
|
|
|
$
|
20,524
|
|
Provision for credit
losses
|
(380)
|
|
|
(794)
|
|
|
558
|
|
|
(412)
|
|
|
(2,648)
|
|
|
(616)
|
|
|
(475)
|
|
Noninterest
income
|
4
|
|
|
4
|
|
|
4
|
|
|
15
|
|
|
—
|
|
|
12
|
|
|
—
|
|
Noninterest
expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee
benefits
|
1,694
|
|
|
1,678
|
|
|
1,712
|
|
|
2,104
|
|
|
1,642
|
|
|
5,084
|
|
|
5,105
|
|
Occupancy and
equipment expenses
|
77
|
|
|
76
|
|
|
78
|
|
|
73
|
|
|
76
|
|
|
231
|
|
|
232
|
|
Data processing and
telecommunications expenses
|
88
|
|
|
94
|
|
|
87
|
|
|
79
|
|
|
84
|
|
|
269
|
|
|
320
|
|
Other noninterest
expenses
|
897
|
|
|
852
|
|
|
921
|
|
|
981
|
|
|
934
|
|
|
2,670
|
|
|
2,876
|
|
Total noninterest
expense
|
2,756
|
|
|
2,700
|
|
|
2,798
|
|
|
3,237
|
|
|
2,736
|
|
|
8,254
|
|
|
8,533
|
|
Income before income
tax expense
|
5,065
|
|
|
5,145
|
|
|
3,284
|
|
|
3,848
|
|
|
6,983
|
|
|
13,494
|
|
|
12,466
|
|
Income tax
expense
|
1,633
|
|
|
1,083
|
|
|
686
|
|
|
828
|
|
|
1,464
|
|
|
3,402
|
|
|
2,611
|
|
Net income
|
$
|
3,432
|
|
|
$
|
4,062
|
|
|
$
|
2,598
|
|
|
$
|
3,020
|
|
|
$
|
5,519
|
|
|
$
|
10,092
|
|
|
$
|
9,855
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Consolidated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
$
|
161,661
|
|
|
$
|
161,852
|
|
|
$
|
164,977
|
|
|
$
|
163,456
|
|
|
$
|
162,538
|
|
|
$
|
488,490
|
|
|
$
|
474,297
|
|
Provision for credit
losses
|
(9,675)
|
|
|
142
|
|
|
(28,591)
|
|
|
(1,510)
|
|
|
17,682
|
|
|
(38,124)
|
|
|
146,890
|
|
Noninterest
income
|
76,562
|
|
|
89,240
|
|
|
117,973
|
|
|
112,143
|
|
|
159,018
|
|
|
283,775
|
|
|
334,357
|
|
Noninterest
expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee
benefits
|
79,671
|
|
|
85,505
|
|
|
95,985
|
|
|
92,466
|
|
|
96,698
|
|
|
261,161
|
|
|
267,812
|
|
Occupancy and
equipment expenses
|
11,979
|
|
|
10,812
|
|
|
11,781
|
|
|
12,709
|
|
|
13,805
|
|
|
34,572
|
|
|
39,640
|
|
Data processing and
telecommunications expenses
|
10,681
|
|
|
11,877
|
|
|
11,884
|
|
|
11,323
|
|
|
12,226
|
|
|
34,442
|
|
|
34,694
|
|
Other noninterest
expenses
|
34,865
|
|
|
27,567
|
|
|
29,148
|
|
|
34,618
|
|
|
30,963
|
|
|
91,580
|
|
|
105,367
|
|
Total noninterest
expense
|
137,196
|
|
|
135,761
|
|
|
148,798
|
|
|
151,116
|
|
|
153,692
|
|
|
421,755
|
|
|
447,513
|
|
Income before income
tax expense
|
110,702
|
|
|
115,189
|
|
|
162,743
|
|
|
125,993
|
|
|
150,182
|
|
|
388,634
|
|
|
214,251
|
|
Income tax
expense
|
29,022
|
|
|
26,862
|
|
|
37,781
|
|
|
31,708
|
|
|
34,037
|
|
|
93,665
|
|
|
46,548
|
|
Net income
|
$
|
81,680
|
|
|
$
|
88,327
|
|
|
$
|
124,962
|
|
|
$
|
94,285
|
|
|
$
|
116,145
|
|
|
$
|
294,969
|
|
|
$
|
167,703
|
|
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SOURCE Ameris Bancorp