Slide 1: Ameris Bancorp 3rd Quarter 2018 Results
Ameris Bancorp 3 rd Quarter 2018 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: The Ameris Bancorp Story
• 11 . 3 % more profitable (using ROA) than this time last year, exclusive of the effects of the tax law . Managed a stable margin, aggressive growth goals in a hyper - competitive market and integrated two large M&A deals • Strong, attractive Southeastern markets and attractive LOBs give us the abi
Slide 4: Clear Path to Future Increase in EPS
Clear Path to Future Increase in EPS Confidence in 2019 financial expectations: • Maintain margin through funding expertise, capacity and better mix • Double - digit balance sheet growth • Reliable and profitable growth in all segments of loan production • $20 million of operating efficiencies annou
Slide 5: 2Q18 Acquisitions Update
2Q18 Acquisitions Update • Atlantic Coast Financial Corporation (“Atlantic”) – Forecasted $14.1 million of cost saves; Identified and realized $15.7 million – Data conversion also completed in 2Q18; operating efficiencies immediate in 3Q18 – Customer base is stable and employees are focused on growi
Slide 6: Earnings Summary – Adjusted Basis
Earnings Summary – Adjusted Basis 5 Quarter to Date Results Year To Date Results 3Q 18 3Q 17 Change 2018 2017 Change Adjusted Earnings $ 43,292 $ 23,617 83% $ 100,311 $ 68,681 46% Adjusted Earnings Per Share $ 0.91 $ 0.63 44% $ 2.40 $ 1.86 29% Adjusted Return on Assets 1.53% 1.26% 21% 1.46% 1.28% 13
Slide 7: 3Q 2018 Operating Highlights
3Q 2018 Operating Highlights • Growth in adjusted net earnings of 83.3% compared with 3Q 2017 • Adjusted efficiency ratio of 54.42% compared with 57.53% in 2Q18 • Organic growth in noninterest bearing deposits of $191.1 million, or 11.1% • Adjusted ROA and ROTCE of 1.53% and 20.50%, respectively • N
Slide 8: Credit Quality and Loan Diversification
Credit Quality and Loan Diversification Agriculture 2.8% C&I 16.7% MUNI 7.1% Consumer 4.9% Investor CRE 19.9% Owner - Occupied CRE 11.9% AC&D 10.0% Multi - Family 3.4% SFR Mortgage 23.3% 3Q 2018 Loan Portfolio • Largest category of loans < 24% of total • Participations purchased < 1% of total loans
Slide 9: Operating Highlights
Operating Highlights (1) Asset growth is materially impacted in 2Q18 by the acquisitions of Atlantic and Hamilton (2) Core Operating expenses exclude merger related charges, Executive retirement costs, restructuring charges and gain/loss on sale of premises (3) Operating efficiency ratio is Core Ope
Slide 10: Total Revenue
Total Revenue Spread Revenues • $2.32 billion, or 29.7%, growth in average earning assets over 2Q 2018 • Steady margin with strong growth in existing rate environment. Margin (excluding accretion) of 3.77% in current quarter compared with 3.80% a year ago Non - Interest Income • Mortgage revenue – i
Slide 11: Net Interest Margin
Net Interest Margin Spread Income and Margin supported by: • Growth in average earning assets of $2.32 billion, or 29.7%, compared with 2Q18 • Margin (excluding accretion) lower by 4bps due entirely to higher levels of short - term assets. Yields and costs were managed for stable margins and S/T ass
Slide 12: Expenses – 3Q18
Expenses – 3Q18 • Substantially all the increase in adjusted operating expenses is related to compensation and occupancy costs from increased branch locations from recent acquisitions • Continue to drive expense control behaviors throughout the Company and look for efficiencies in our administrative
Slide 13: Capital and TBV – 3Q18
Capital and TBV – 3Q18 • Historically, consistent growth in TBV • TBV increased $0.66 in 3Q18 Consistent Growth in TBV • TCE / TA at quarter end of 7.77%, up from 7.65% at end of 2Q18. • Excluding OCI changes, expect 20bps of TCE growth per quarter. • 3Q 2018 Operating ROTCE of 20.5% • Normalized RO
Slide 14: Investment Rationale
Investment Rationale Organic Growth Opportunities • Top quartile return on assets • Strong ROTCE’s that support organic and M&A growth • Efficiency ratio below 60 % with catalysts that are expected to drive us into lower 50 % range over next 18 months Operating Performance Valuation • Material disco
Slide 15: Ameris Bancorp Press Release & Financial Highlights September 30, 2018
Ameris Bancorp Press Release & Financial Highlights September 30, 2018