Ameris Bancorp · NYSE:ABCB
Ameris Bancorp — Q1 2012 Earnings Presentation
17 slides from Ameris Bancorp's earnings presentation, May 22, 2012
Slide 1: First Quarter 2012 Investor Presentation
Exhibit 99.1 First Quarter 2012 Investor Presentation
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: Corporate Profile
Corporate Profile • Headquartered in Moultrie, Georgia • Founded in 1971 as the American Banking Company • Historically grown through acquisitions of smaller banks in areas close to existing operations • Recent growth through de novo expansion strategy and 9 FDIC-assisted transactions • Four state f
Slide 4: Experienced Management Team
Experienced Management Team EXPERIENCE PREVIOUS NAME / POSITION (Banking / Ameris) EXPERIENCE Edwin W. Hortman Jr. 31/13 Colony Bankcorp, Inc. Chief Executive Officer Andrew B. Cheney 35/2 Barnett Bank, Mercantile Bank EVP & Chief Operating Officer Dennis J. Zember Jr. 18/6 Flag Financial Corporatio
Slide 5: Current Focus
Current Focus Position Ameris Bank as a Consolidator in our 4 Southeastern States -FDIC Assisted acquisitions – Slowing pipeline of opportunities but our markets still have majority of potential deals. Interest in both Strategic (builds market share) and Financial (builds excess TCE and T1 capital)
Slide 6: Loan Portfolio Detail
Loan Portfolio Detail LoanPortfolioDetail– 3/31/12 Average Loan Loan Type Size Average Rate Commercial R/E $ 339,377 5.53 % C&D 107,866 5.43 Residential 69,967 5.93 C&I 54,612 5.35 Consumer 6,969 6.69 Agriculture 101,177 5.93 Total $ 80,789 5.68 % • Diversified loan portfolio across five regions – I
Slide 7: C&D and CRE Detail
C&D and CRE Detail (in millions) C&D Portfolio - C&D ONLY 6% OF LOAN PORTFOLIO - Reduced exposure by $272mm or 69% since peak - Average LTV is 66% - 38% of all 2011 and 2010 NCO’s CRE Portfolio (Non Owner-Occupied) - 50% of our CRE portfolio is owner-occupied - Average CRE loan is $339k 7 Data as of
Slide 8: Credit Quality
Credit Quality Trends in NPA’s OREO • Values are appropriate for sale to end users. • 1Q 2012 Disposal activity – More aggressive posture resulted in a $31.2 million reduction in classified assets at 63%, net of reserves. Breakdown of OREO by Type • NPLs down 43% from their peak levels over 2 years
Slide 9: Credit Cycle
Credit Cycle In-Migration of New Problem Loans (1) • 45%Decline– In-migrationof new non- accrual loans down significantly in 2011 over 2010. th • 4 quarter 2011 increase in in-migration was concentrated in several larger relationships. All have resolution strategies implemented. • Management anticip
Slide 10: First Quarter Update
First Quarter Update dollars in millions, except per share data Q1 '11 Q2 '11 Q3 '11 Q4 '11 Q1 '12 BALANCE SHEET Assets $2,918 $2,857 $3,010 $2,994 $3,043 Loans, net 1,837 1,812 1,929 1,868 1,949 Tang Common Equity / Assets 7.51 % 7.78 % 7.96 % 7.96 % 7.95 % Tangible Book Value $9.20 $9.34 $10.08 $1
Slide 11: Revenue Growth
Revenue Growth Revenue growth through this cycle with opportunistic strategies: 15.0% compounded annual growth rate in total revenue over the last three years Revenue has grown twice as fast as earning assets Significant amount of assets that will be deployed over the next 3 years that will signific
Slide 12: Local Deposit Customers
Local Deposit Customers Drive Profitability & Long Term Franchise Value • 40.7%- Growth rate in Non-interest Bearing Demand during last 12 months • 63.2%- Percentage of deposits in retail oriented transaction style accounts • 98.0%- Percentageof Bank’stotal funding through depositsthat “walks throug
Slide 13: Strong Core Operating Performance
Strong Core Operating Performance Pre-Tax, Pre-Credit Earnings (1) ($000s) Net Interest Margin (2) (%) Earnings Power • 28.3%- AverageGrowthratein PTPP(2 years)– Strong results, driven by cost containment and contribution from eight acquisitions during the eight quarters covered. Both strategies are
Slide 14: FDIC-Assisted Acquisitions
FDIC-Assisted Acquisitions Acquisition Deposit Pretax Gain/ Bank Assets, FV Deposits, FV Discount Bid Date Premium (Goodwill) American United Bank Oct-09 120,994 100,470 (19,645) 262 12,445 United Security Bank Nov-09 169,172 141,094 (32,615) 228 26,121 Satilla Community Bank May-10 84,342 75,530 (1
Slide 15: Significant Capital Strength
Significant Capital Strength Stable Tangible Book Value per Share Significant Capital left to Leverage • 9.51% -Proforma Tier 1 capital assuming TARP repayment • 7.95% Proforma TCE / TA assuming TARP repayment • Additional growth of $1.11 billion possible (leverages T1 Leverage to 8.00%) with no add
Slide 16: Potential Consolidation Opportunities
Potential Consolidation Opportunities (data for banks in our four state footprint) “Loss-Share” M&A Opportunities(2) TraditionalM&AOpportunities(1) “Loss-Share” M&A • 20% of all banks under $2 billion in our four states have Tx ratio over 100% • Majority remaining are smaller banks where consolidati
Slide 17: First Quarter 2012 Investor Presentation
First Quarter 2012 Investor Presentation