Ameris Bancorp · NYSE:ABCB
Ameris Bancorp — Investor Presentation (February 2014)
17 slides from Ameris Bancorp's investor presentation, Feb 13, 2014
Slide 1: 1st Quarter 2014 Investor Presentation
Exhibit 99.1 st 1 Quarter 2014 Investor Presentation
Slide 2: Cautionary Statements
Cautionary Statements This presentation contains certain performance measures necessarily comparable to similar capital measures that may determined by methods other than in accordance with be presented by other companies. accounting principles generally accepted in the United States of America (“GA
Slide 3: Corporate Profile
Corporate Profile • Headquartered in Moultrie, Georgia • Founded in 1971 as American Banking Company • Historically grown through acquisitions of smaller banks in areas close to existing operations • Recent growth through merger with Prosperity Banking Company and 10 FDIC-assisted transactions • Fou
Slide 4: Experienced Management Team
Experienced Management Team Name, Position Experience (Banking / Ameris) Edwin W. Hortman Jr. 33/15 Chief Executive Officer Andrew B. Cheney 37/5 EVP & Chief Operating Officer Dennis J. Zember Jr. 20/9 EVP & Chief Financial Officer Jon S. Edwards 28/14 EVP & Chief Credit Officer Stephen A. Melton 32
Slide 5: Current Focus
Current Focus Continue efforts to re-engineer the Company’s operating style • Develop more rapid growth in spread revenue as covered loan run-off subsides • Continue improving efficiency ratio through cost control and leverage through M&A • Retire remainder of TARP in Q1 2014 and re-instate common d
Slide 6: 4th Quarter Update – Financial Condition
th 4 Quarter Update – Financial Condition dollars in millions, except per share data Q4 '12 Q1 '13 Q2 '13 Q3 '13 Q4 '13 Change BALANCE SHEET Total Assets $3,019 $2,862 $2,809 $2,818 $3,668 21.50 % S/T assets & investments $628 $461 $418 $394 $708 12.75 Loans -noncovered $1,499 $1,535 $1,618 $1,659 $
Slide 7: 2013 Operating Results
2013 Operating Results dollars in millions, except per share data YTD 2009 YTD 2010 YTD 2011 YTD 2012 YTD 2013 Change Net Income $10,441A ($3,989) $21,093 $14,436 $23,596 A 63.45 % Net interest income $74,022 $89,277 $113,524 $114,405 $116,185 1.56 Provision for loan losses $42,068 $50,521 $32,729 $
Slide 8: 4th Quarter Update – Credit Quality
nd 2 Quarter Update C –redit Quality dollars in millions, except per share data Q4 '12 Q1 '13 Q2 '13 Q3 '13 Q4 '13 Change CREDIT QUALITY (1) Non-performing assets 78,735 77,910 71,696 69,698 73,489 (6.66)% Non-accrual loans 38,885 37,476 31,811 31,720 35,862 (7.77) OREO 39,850 40,434 39,885 37,978 3
Slide 9: Loan Portfolio Detail
Loan Portfolio Detail C&I Covered Ag 9% 16% 7% Construction Consumer 7% Installment & Non-owner Residential occupied CRE 27% 17% Owner Occupied CRE 17% • Diversified loan portfolio across five regions – Inland Georgia –40% – South Carolina 1 –3% – Coastal Georgia 11% – – Florida –30% – Alabama –6% •
Slide 10: Loan Portfolio – Loan Pipelines
Loan Portfoliostrong – loan pipelines 1 Consistent Loan Pipelines Lending Strategies • Leveraging presence in new markets (top five markets $180 account for 70% of pipeline: Atlanta, Jacksonville, Loan Pipeline EOQ (in millions) Columbia, Savannah, Charleston $161 • Upgrading production positions in
Slide 11: Loan Portfolio
Loan Portfolio Diversified through smaller relationships as well Portfoliocomprised ofsmallerrelationships • $27.1 million- Largest Relationship has over 3.0x debt coverage, backed by taxing authority of one of our local markets. • 2.02x – Weighted average debt coverage of our 25 largest relationshi
Slide 12: Significant Value in Deposit Portfolio
Significant Value in Deposit Portfolio • 26.3% -5 Year compounded growth rate in our book of non-interest bearing demand. • $1.1billion– Growth in non-ratesensitivedepositsover last 5 yearswill materially protect AmerisBankfrom the sensitivityof a growingfixed rate loan book. Growth in non-rate sens
Slide 13: FDIC Indemnification Asset
FDIC Indemnification Asset Managing towards the end of loss share protection Classifieds Maturing After L/S All Loans Remaining Original Current Current Original Current % of Months to Estimate of Estimate of Estimate as a % I/A on Bank I/A (000's) I/A (000's) Original I/A Collect Losses (000's)Loss
Slide 14: Earnings – Continued Growth in Revenue
Earnings – Continued Growth in Revenue $45.0 Challenging market to grow revenues. Recurring Quarterly Revenue Opportunistic approach of Ameris Bank includes: (in millions) • Continued M&A activities – $40.7 $40.9 • Anticipate a 20%+ improvement in total $40.6 revenue from recently closed “Prosperity
Slide 15: Earnings – Net Interest Margin
Earnings Net - Interest Margin Net Interest Margin (%) 5.30 • 4.63% -Normalized net interest margin in 4Q 13 excluding excess liquidity levels • 4.10%- Incrementalnet interestmargin 4.70 from newly acquired earning assets at Prosperity Bank 4.43 4.21 • $8.0million– Additionalinterestincome 4.10 4.15
Slide 16: Earnings – Non-Interest Income
EarningsNon-Interest – Income 1.75% Non-Interest Income to Assets Serious about building strength and diversification in non- 1.63% interest income sources • Moving away from deposit charges 1.25% 1.28% • Researching unique lines of business • Momentum in our numbers coming from mortgage revenue; we
Slide 17: Why Ameris Bank?
Why Ameris Bank? Proven ability to deploy capital • Excellent relationship with potential merger partners and with regulatory agencies • 11 transactions since October 2009 Actively re-engineering the Company to operate with improved efficiency ratios • Ongoing process looking at systems, products, s
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