Ameris Bancorp · NYSE:ABCB
Ameris Bancorp — Q1 2025 Earnings Presentation
27 slides from Ameris Bancorp's earnings presentation, Apr 29, 2025
Slide 1: 1st Quarter 2025 Results Investor Presentation
1st Quarter 2025 Results Investor Presentation
Slide 2: Cautionary Statements
Cautionary Statements This presentation 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,” “
Slide 3: Ameris Profile
Ameris Profile Investment Rationale • Top of peer financial results with culture of discipline – credit, liquidity, expense control, capital • Diversified loan portfolio among geographies and product lines • Strong Southeast markets projected to grow faster than the national average(1) • Stable depo
Slide 4: Why Ameris?
Why Ameris? Leading Industry Performance 30.8% 1.36% 13.1% NIB Deposits ROA ROTCE(1) 22% 3.73% 52.8% Fees to Margin Efficiency Ratio Revenue 1.67% 12.9% 10.8% Allowance for CET1 Ratio(2) TCE/TA Ratio(1) Credit Losses 14% 1.7x Disciplined and 5-yr TBV(1) National Growth Focused Mgmt CAGR Markets(3) T
Slide 5: Delivering Shareholder Value
Delivering Shareholder Value Core Deposit and Tangible Book Value Growth • Management remains laser focused on growing shareholder value • Over the past five year, TBV(1) has grown by 14% annualized and core deposits(2) by 9% annualized • TBV increased $1.19 per share in 1Q25: • $1.07 from retained
Slide 6: History of Consistent Performance
History of Consistent Performance 5 Year Performance Metrics 2020 – 2024 (5 Year) 2020 2021 2022 2023 2024 Average 1Q25 ROA 1.36% 1.73% 1.47% 1.06% 1.38% 1.40% 1.36% ROTCE(2) 17.2% 20.6% 17.8% 12.2% 14.4% 16.5% 13.1% Net Interest Margin 3.70% 3.32% 3.76% 3.61% 3.56% 3.59% 3.73% Net Interest Income G
Slide 7: 1Q 2025 Operating Highlights
1Q 2025 Operating Highlights • Net income of $87.9 million, or $1.27 per diluted share • Return on average assets ("ROA") of 1.36% • Noninterest-bearing deposits remain strong at 30.8% of total deposits at March 31, 2025 • Net interest margin (TE) expansion of 9bps to 3.73% • Tangible book value(1)
Slide 8: 1Q 2025 Financial Highlights
1Q 2025 Financial Highlights (dollars in thousands, except per share data) Quarter to Date Results 1Q25 4Q24 Change 1Q24 Change Net Income $ 87,935 $ 94,376 -7% $ 74,312 18% Adjusted Net Income(1) $ 88,044 $ 95,078 -7% $ 75,612 16% Net Income Per Diluted Share $ 1.27 $ 1.37 -7% $ 1.08 18% Adjusted N
Slide 9: Strong Net Interest Margin
Strong Net Interest Margin $230.0 5.50% Net Interest Income (TE) Spread Income and Margin (in millions) $222.8 $222.8 5.00% • Net interest margin improved 9bps to 3.73% in $220.0 the first quarter of 2025, from 3.64% during the fourth quarter of 2024 and from 3.51% a year 4.50% $212.9 $215.0 ago $21
Slide 10: Diversified Revenue Stream
Diversified Revenue Stream Strong Revenue Stream Revenue Sources (Tax-Equivalent) (in millions) • Strong revenue base of net interest income from core banking division and lines of business 120% • Additional revenue provided by our diversified $291.7 $286.8 lines of business $268.2 $301.6 $284.7 100
Slide 11: Disciplined Expense Control
Disciplined Expense Control Noninterest Expenses and Efficiency Ratio Expense Highlights 180.0 Noninterest Expenses • Management continues to deliver high 160.0 (in millions) performing operating efficiency $45.6 $41.9 $41.4 140.0 $40.4 $39.4 120.0 • Efficiency ratio of 52.83% in 1Q25 100.0 $108.3 $
Slide 12: Strong Core Deposit Base
Strong Core Deposit Base Deposits by Product Type 1Q25 Highlights Deposit Balance Average per • Total deposits increased $190.0 million, or 3.5% % of Total Count Type (in 000s) account annualized, during 1Q25: NIB $ 6,744,781 30.8% 309,582 $ 21,787 • Seasonal outflows of public funds totaled NOW 4,0
Slide 13: Capital Strength
Capital Strength Strong Capital Base Capital Highlights • The Company is well capitalized with minimal 15.4% 15.4% 15.6% unrealized losses in the investment portfolio 14.6% 14.9% • Repurchased 253,400 shares during the 12.2% 12.7% 12.9% quarter for a total of $15.0 million 11.4% 11.7% • TCE ratio of
Slide 14: Loan Diversification and Credit Quality
Loan Diversification and Credit Quality
Slide 15: Diversified Loan Portfolio
Diversified Loan Portfolio 1Q25 Loan Portfolio Portfolio Highlights Agriculture 1% • Loan portfolio is well diversified across loan types and geographies and managed by a seasoned credit staff SFR Mortgage 20% C&I • Asset quality metrics remain stable and better 24% than historical averages HELOC 2%
Slide 16: Loan Balance Changes
Loan Balance Changes (in millions) 1Q25 Loan Balance Changes $200 $176 $150 $100 $73 $50 $- $(12) $(18) $(50) $(41) $(56) $(100) $(150) $(156) $(200) Multi-Family C&I (1) OO CRE Investor CRE Other RE - RES Construction • Period end loan balances decreased $33.3 million during 1Q25 • Increases in C&I
Slide 17: Allowance for Credit Losses
Allowance for Credit Losses 1Q25 CECL Reserve (in millions) $350.0 Reserve Summary $21.5 $345.6 $345.0 • The ACL on loans equated to 1.67% of total loans at 1Q25, compared with: $340.0 $338.1 • 1.63% at 4Q24 • 1.55% at 1Q24 $335.0 $(4.4) • The ACL on loans totaled $345.6 $330.0 million at 1Q25, a ne
Slide 18: NPA / Charge-Off Trend
NPA / Charge-Off Trend Non-Performing Assets 0.80% 1Q25 Credit Summary 0.74% 0.75% 0.71% • NPAs, as a percentage of total assets, was 0.70% 0.44% at 1Q25 compared with 0.47% at 0.65% 4Q24 due to a decrease in non-performing 0.60% commercial and premium finance loans, and 0.55% OREO 0.50% 0.47% 0.44%
Slide 19: Problem Loan Trends
Problem Loan Trends (in millions) $350 1.43% $300 1.31% 1.34% 1.30% $250 1.09% $200 Criticized ACL Coverage 154% 0.76% 0.76% 0.74% 0.77% 0.73% Classified ACL Coverage 229% $150 0.52% NPL ACL Coverage 342% 0.47% 0.48% 0.47% 0.49% $100 $50 $0 1Q24 2Q24 3Q24 4Q24 1Q25 Criticized Loans Classified Loans
Slide 20: Term Investor CRE
Term Investor CRE Investor CRE by Property Type Investor CRE All Other Outstanding $6.58 B CRE $568 Unfunded $0.22 B Hotel $421 Multi-Family Total Committed Exposure $6.8 B $1,662 Warehouse / Average Loan Size $3.75 M Industrial $750 Allowance Coverage 1.44% PD Ratio 0.05% Retail - Non Office NPL Ra
Slide 21: Office Portfolio
Office Portfolio Total Office Portfolio by Loan Type Construction $148 Investor Office Owner- Outstanding $1.41 B Occupied Unfunded $0.14 B $456 Total Committed Exposure $1.54 B Average Loan Size $3.63 M Investor CRE Allowance Coverage 2.51% $1,258 PD Ratio 0.00% NPL Ratio 0.00% Criticized Ratio 1.5
Slide 22: Appendix
Appendix AMERIS BANCORP
Slide 23: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures (dollars in thousands) Quarter to Date 1Q25 4Q24 1Q24 Net Income $ 87,935 $ 94,376 $ 74,312 Adjustment items Gain on sale of MSR 14 (536) - Gain on BOLI proceeds (11) - (998) FDIC special assessment 138 (559) 2,909 Natural disaster expenses - 400 - (Gain)/
Slide 24: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures Quarter to Date (dollars in thousands) 1Q25 4Q24 3Q24 2Q24 1Q24 Adjusted Noninterest Expense Total noninterest expense $ 151,034 $ 151,949 $ 151,777 $ 155,357 $ 148,711 Adjustment items: FDIC special assessment (138) 559 - 895 (2,909) Natural disaster expe
Slide 25: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures Quarter to Date (dollars in thousands) 1Q25 4Q24 3Q24 2Q24 1Q24 Total shareholders' equity $ 3,823,802 $ 3,751,522 $ 3,681,368 $ 3,566,614 $ 3,484,738 Less: Goodwill 1,015,646 1,015,646 1,015,646 1,015,646 1,015,646 Other intangibles, net 66,658 70,761 74,
Slide 26: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures (dollars in thousands) 2020 2021 2022 2023 2024 Return on Tangible Common Equity Net Income $ 261,988 $ 376,913 $ 346,540 $ 269,105 $ 358,685 Average common equity 2,531,419 2,827,669 3,083,081 3,313,361 3,583,390 Average tangible common equity 1,520,303 1
Slide 27: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures As of (dollars in thousands) 1Q25 4Q24 3Q24 2Q24 1Q24 4Q23 3Q23 2Q23 1Q23 4Q22 3Q22 Total shareholders' equity $ 3,823,802 $ 3,751,522 $ 3,681,368 $ 3,566,614 $ 3,484,738 $ 3,426,747 $ 3,347,069 $ 3,284,630 $ 3,253,195 $ 3,197,400 $ 3,119,070 Less: Goodwil