Ameris Bancorp · NYSE:ABCB
Ameris Bancorp — Merger or Acquisition (March 2014)
17 slides from Ameris Bancorp's merger presentation, Mar 11, 2014
Slide 1: Acquisition of Coastal Bankshares, Inc.
Exhibit 99.2 Acquisition of Coastal Bankshares, Inc. March 11, 2014
Slide 2: Cautionary Statements
Cautionary 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 analys
Slide 3: Overview of Pro Forma Franchise
Overview of Pro Forma Franchise Pro Forma Highlights (1) Financial data as of 12/31/13 Map and branch count exclude Coastal’s administrative branch at 605 US Highway 80 West in Savannah (1) Excludes purchase accounting adjustments • Complementary in-market transaction • Significant branch overlap wi
Slide 4: Transaction Rationale
• In-market extension with like-minded community bank • Leverages management experience and infrastructure in Savannah • Experienced Southeast acquiror – deals in the last years • Thorough due diligence process completed with over 70% of the total loan and OREO portfolios reviewed Transaction Ration
Slide 5: Summary of Transaction Terms
Acquiror: Ameris Bancorp (NASDAQ: ABCB) Target: Coastal Bankshares, Inc. (Private) Transaction Value: (1) $36.7 million Consideration Mix: 100% Stock Per Share Consideration: 0.4671 shares of ABCB stock Price / Tangible Book Value (%): (1) 166% Capital Raise: No additional capital required to comple
Slide 6: Ameris Bancorp
_ — Amerts Bancorp 'Y]
Slide 7: Credit Due Diligence
Credit Due Diligence Credit Diligence Process • Comprehensive review process for Coastal’s loans and OREO portfolios • Experienced credit review team + Ameris has reviewed over $3.0 billion of loans and OREO through the evaluation of 30 FDIC transactions • Completed ten FDIC-assisted acquisitions an
Slide 8: Coastal's Core Earnings Ability
Coastal’s Core Earnings Ability Source: SNL Financial Note: Securities gain of $4.0 thousand not shown (1) Includes provision expense and losses on the sale of OREO (2) Based on Coastal’s reported 2013 noninterest expense of $17.4 million • Transaction will allow Ameris to unlock Coastal’s core earn
Slide 9: Financial Impact
Source: SNL Financial Ameris current capital ratios as of 12/31/13 (1) Financial Impact Transaction Impact • 10% EPS accretion once cost savings are fully realized • No revenue synergies assumed in pro forma results but substantial opportunities identified • Tangible book value earnback period insid
Slide 10: Strengthened Market Presence
Pro Forma 390 7.3 7 Coastal Bankshares Inc. 315 5.9 12 Ameris Bancorp 75 1.4 4.3% 7.2% $48,302 $52,945 Strengthened Market Presence • Leverages our presence in the Savannah market + On a pro forma basis, Ameris is the nd largest community bank in the Savannah MSA Savannah MSA Deposit Market Share Sa
Slide 11: Conclusion
Conclusion • Financially attractive for both of our shareholders • Enhances current footprint in a high-growth Southeastern market • Compatible community banking model
Slide 12: Appendix: Additional Information
Appendix: Additional Information
Slide 13: Overview of Coastal Bankshares, Inc.
72% 15% 13% Overview of Coastal Bankshares, Inc. • Headquartered in Savannah, GA • Founded in 1954 • 6 branch Georgia footprint + Savannah MSA (5) + Hinesville MSA (1) Financial Highlights Company Highlights Deposit Composition by County (2) Chatham Liberty Effingham Total Assets …………………………… $432.8
Slide 14: Strong Core Funding
Demand Deposits $179 6% Retail Time Deposits $372 12% Jumbo Time Deposits $379 13% Demand Deposits $70 19% NOW Accounts $66 18% Retail Time Deposits $58 16% Jumbo Time Deposits $61 17% Demand Deposits $249 7% Retail Time Deposits $430 13% Jumbo Time Deposits $440 13% Strong Core Funding Dollars in m
Slide 15: Pro Forma Loan Composition
C&D $178 7% Residential $712 28% C&I $160 6% FDIC Covered $390 15% C&D $37 12% Residential $100 34% C&I $23 8% C&D $215 8% Residential $812 29% C&I $183 6% FDIC Covered $390 14% Pro Forma Loan Composition Ameris Pro Forma (1) Dollars in millions Source: SNL Financial Data as of 12/31/13 (1) Excludes
Slide 16: Branch Overlap Detail
Branch Overlap Detail Map excludes Coastal’s administrative branch at 605 US Highway 80 West in Savannah Pooler Downtown Historic District Southside
Slide 17: Branch Locations
Branch Locations Hinesville Office Godley Station Rincon Office Stephenson Avenue Office Pooler Office Johnson Square Office