Slide 1: Ameris Bancorp 3rd Quarter 2017 Results Investor Presentation
Ameris Bancorp 3 rd Quarter 2017 Results Investor Presentation
Slide 2: Non-GAAP measures and forward-looking statements
This presentation contains certain performance measures determined by methods other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”) . Management of Ameris Bancorp (the “Company”) uses these non - GAAP measures in its analysis of the Company’s
Slide 3: Current Focus: top quartile operating results, consistently
Almost singular focus of our team right now is “to produce top quartile operating results, consistently” • Manage the momentum we have to produce 20 % + growth in loans and deposits in 2017 • Expand non - interest income lines where appropriate to manage their contribution to EPS and ROA • Continue
Slide 4: Earnings Summary – Operating Basis
Earnings Summary – Operating Basis Quarter to Date Results Year To Date Results 3Q 17 3Q 16 Change 2017 2016 Change Operating Earnings $23,617 $21,712 9% $68,681 $58,422 18% Earnings Per Share $ 0.63 $ 0.62 2% $ 1.86 $ 1.69 9% Return on Assets 1.26% 1.36% - 8% 1.28% 1.29% - 1% Return on TCE 14.28% 1
Slide 5: 3Q 2017 Operating Highlights
3Q 2017 Operating Highlights • Organic Loan Growth of $312.9 million, or 24.3% annualized during 3Q 2017 (23.1% annualized for the YTD period) • Net Interest Margin expanded by 3bps compared to 2Q 2017 • Operating efficiency ratio of 61.09% compared to 60.95% in 3Q 2016 • Total Revenue of $93.9 mill
Slide 6: Operating Highlights
Operating Highlights (1) Core Operating expenses exclude merger related charges, BSA resolution expenses, expenses resulting from Hurricane Irma and gain/loss on sale of premises (2) Operating efficiency ratio is Core Operating Expenses divided by Net Interest Income and Non - interest income For th
Slide 7: Total Revenue
Total Revenue Spread Revenues • $1.11 billion or 19.2% growth in average earning assets over 3Q 2016 • Steady to increasing margin despite strong growth in existing rate environment. Margin of 3.80% in current quarter compared to 3.77% a year ago Non - Interest Income • Mortgage Revenue – down $727,
Slide 8: Net Interest Margin
Net Interest Margin Spread Income and Margin supported by: • Growth in average earning assets of $1.11 billion or 19.2% compared to 3Q16 • Margin higher by 3bps • 4.49% - Incremental margin on incremental asset growth. Exceptional result given rate environment Accretion income a decreasingly lower p
Slide 9: Expenses – 3Q17
Expenses – 3Q17 • Steady core bank expenses despite double digit growth in spread income and loans – Includes significant spend for continued BSA compliance and other infrastructure needs • Investment in Lines of Business during 2017 : – Higher levels in premium finance division supporting leadershi
Slide 10: Capital and TBV – 3Q17
Capital and TBV – 3Q17 • 8 quarters of growth in TBV despite M&A • TBV impacted in 1Q17 by $1.67 per share associated with the capital raise Consistent Growth in TBV • TCE / TA at quarter end of 8.81%, up from 7.46% at the end of 2016 • 3Q 2017 Operating ROTCE of 14.3% • Normalized ROTCE in the rang
Slide 11: Investment Rationale
Investment Rationale Attractive Multiples • Top Quartile ROA & Top Quartile Growth Rate • ROTCE’s approaching 15 % with normalized capital levels • Improving efficiency ratio at 60 % or better means incremental growth is materially more profitable Operating Performance M&A Opportunities • Discipline
Slide 12: Press Release & Financial Highlights September 30, 2017
Ameris Bancorp Press Release & Financial Highlights September 30, 2017