Ameris Bancorp · NYSE:ABCB
Ameris Bancorp — Sandler O'Neill + Partners East Coast Financial Services Conference November 2010
16 slides from Ameris Bancorp's conference presentation, Nov 10, 2010
Slide 1: East Coast Financial Services Conference November 2010
Exhibit 99.1 Sandler O’Neill + Partners East Coast Financial Services Conference November 2010
Slide 2: Cautionary Statements
Cautionary Statements This presentation contains certain performance measuresdetermined by methods other than in accordancewith accounting principles generally acceptedin the United Statesof America (“GAAP”).Management of Ameris Bancorp (the “Company”) uses these non-GAAP measuresin its analysis of
Slide 3: Corporate Profile
Corporate Profile • Headquartered in Moultrie, Georgia Huntsville Greenville Spartanburg South Carolina • Founded in 1971 as the American Banking Birmingham Atlanta Augusta Columbia Company Alabama Macon Charleston Montgomery Columbus Georgia • Historically grown through acquisitions of smaller Sava
Slide 4: Experienced Management Team
Experienced Management Team EXPERIENCE PREVIOUS NAME / POSITION (Banking / Ameris) EXPERIENCE Edwin W. Hortman Jr. 30/12 Colony Bankcorp, Inc. President & Chief Executive Officer Dennis J. Zember Jr. 15/6 Flag Financial Corporation EVP & Chief Financial Officer Jon S. Edwards 26/11 NationsBank, Fede
Slide 5: Current Focus
Current Focus Remain Well-Positioned to Capitalize on Opportunities One of a limited number of southeastern banks able to participate in FDIC or whole bank transactions Significant opportunities in and around our footprint Aggressively Deal with Credit Issues Continue to be aggressive in recognizing
Slide 6: Loan Portfolio Detail
Loan Portfolio Detail LoanPortfolioDetail– 9/30/10 Average LoanAverage Loan Type Size Rate Commercial R/E $ 341,833 5.59 % C&D 139,806 5.09 Residential 65,515 6.16 C&I 45,514 5.75 Consumer 7,419 7.36 Agriculture 118,801 6.10 Total $ 85,685 5.76 % • Diversified loan portfolio across five regions – In
Slide 7: C&D and CRE Detail
C&D and CRE Detail (in millions) C&D Portfolio - Reduced outstandings31% in last 12 months - Average LTV is 72% - Average appraisal age is 9 months - 36% of all YTD NCO’s CRE Portfolio (Non Owner-Occupied) - 49% of our CRE portfolio is owner-occupied - Average CRE loan is $342k 7 Data as of 6/30/10;
Slide 8: Managing Asset Quality
Managing Asset Quality Nonperforming Loans vs. OREO ($MM) AllClassified Assets– Peakedin 11/09 C&D as a Percentage of Capital 8 Data as of 9/30/10; excludes covered loans
Slide 9: Credit Cycle
Credit Cycle Cumulativelossesin CurrentEconomic Cycle(1) • Analysisshowsthat AmerisBankis 70%-80% through the currentcyclewith no dilution to TBV or capital levels. • Forecastedcumulativelossesfor remainder of cycle is $55 million. • Forecastedpre-tax, pre-credit earnings for remainder of cycle is $
Slide 10: Third Quarter Update
Third Quarter Update dollars in millions, except per share data Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10 Balance Sheet Assets $ 2,207 $ 2,424 $ 2,352 $ 2,422 $ 2,435 Loans, net 1,611 1,686 1,627 1,651 1,614 Tangible Common Equity / Assets 5.84 % 5.86 % 5.97 % 9.17 % 9.08 Tangible Book Value $ 9.00 $ 10.10
Slide 11: Local Deposit Customers drive Profitability
Local Deposit Customers drive Profitability • Strategy produces 20% more funding from local deposits than our peer group • Much less rate sensitive, produces lower COF and higher margins • Salesculture focusessolelyon driving more retail andbusinesstransactionaccounts Retail Funding as a % of total
Slide 12: Strong Core Operating Performance
Strong Core Operating Performance Pre-Tax, Pre-Credit Earnings (1) ($000s) Net Interest Margin (2) (%) “Project 2010” • A comprehensive plan covering numerous cost saving initiatives • Expect to improve pre-tax, pre-credit income by approximately $9.6 million in 2010 – Increase net interest income b
Slide 13: Recent Successes
Recent Successes FDIC-Assisted Acquisitions • Announced purchase and assumption agreements with FDIC loss sharing to acquire – AmericanUnitedBank(10/23/09)- $125millionin assets,$12.1milliongain – UnitedSecurityBank(11/6/09)- $150millionin assets,$26.5milliongain – Satilla Community Bank (5/14/10) $
Slide 14: Protected Tangible Book Value
Protected Tangible Book Value Tangible Book Value Per Share (1) -No dilution during economic downturn - Capital raise completed at 99% of pro-forma TBV - Core earnings stream covers anticipated credit costs and protects TCE going forward (1) Tangible book value per share adjusted for stock dividends
Slide 15: Potential Consolidation Opportunities
Potential Consolidation Opportunities PotentialOpportunitiesHeadquarteredWithin75 Milesof anABCBBranch(1) Spartanburg Number of Number of Deposits Huntsville State Institutions Branches ($MM) Columbia AtlantaAtlanta Birmingham South Alabama 2 6 $ 151 Augusta Carolina Florida 14 71 3,082 Alabama Maco
Slide 16: East Coast Financial Services Conference November 2010
Sandler O’Neill + Partners East Coast Financial Services Conference November 2010