Slide 1: 1st Quarter 2014 Investor Presentation Ameris Bancorp
1st Quarter 2014 Investor Presentation Ameris Bancorp
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 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 Four state fo
Slide 4: Experienced Management Team
Experienced Management Team Name, Position Experience (Banking / Ameris) Edwin W. Hortman Jr. Chief Executive Officer 33/15 Andrew B. Cheney EVP & Chief Operating Officer 37/5 Dennis J. Zember Jr. EVP & Chief Financial Officer 20/9 Jon S. Edwards EVP & Chief Credit Officer 28/14 Stephen A. Melton EV
Slide 5: Current Focus
Current Focus Improve Operating Style to provide Consistent Earnings Results 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 Develop efficient and sustainable non-interest income sources Ca
Slide 6: 1st Quarter Update – Financial Condition
1st Quarter Update – Financial Condition dollars in millions, except per share data Q1 ‘13 Q2 ‘13 Q3 ‘13 Q4 ‘13 Q1 ‘14 BALANCE SHEET Total Assets $2,862 $2,809 $2,818 $3,668 $3,487 S/T assets & investments $461 $418 $394 $708 $515 Loans - noncovered $1,535 $1,618 $1,659 $2,134 $2,184 Loans - covered
Slide 7: 1st Quarter Operating Results
1st Quarter Operating Results dollars in millions, except per share data Q1 ‘13 Q2 ‘13 Q3 ‘13 Q4 ‘13 Q1 ‘14 Net Income $5,285 $6,678 $6,677 $1,378 $8,350 Net interest income $28,338 $29,476 $29,320 $29,051 $34,484 Provision for loan losses $2,923 $4,165 $2,920 $1,478 $1,726 Non-interest income $11,1
Slide 8: 1st Quarter Update – Credit Quality
1st Quarter Update – Credit Quality dollars in millions, except per share data Q1 ‘13 Q2 ‘13 Q3 ‘13 Q4 ‘13 Q1 ‘14 CREDIT QUALITY (1) Non-performing assets 77,910 71,696 69,698 73,489 79,750 Non-accrual loans 37,476 31,811 31,720 35,862 42,047 OREO 40,434 39,885 37,978 37,627 37,643 NPAs / Assets % 2
Slide 9: Loan Portfolio Detail
Loan Portfolio Detail C&I 11% Covered 15% Consumer Installment & Residential 25% Owner Occupied CRE 17% Non-owner occupied CRE 18% Construction 7% Ag 7% Diversified loan portfolio across five regions – Inland Georgia – 40% – Coastal Georgia – 11% – Alabama – 6% – South Carolina – 13% – Florida – 30%
Slide 10: Loan Portfolio – strong loan pipelines
Loan Portfolio – strong loan pipelines Consistent Loan Pipelines1 $180.0 $135.0 $90.0 $45.0 $0.0 1Q 12 2Q 12 3Q 12 4Q 12 1Q 13 2Q 13 3Q 13 4Q 13 1Q 14 Loan Pipeline EOQ (in millions) $95 $127 $161 $157 $147 $141 $139 $139 $130 Diversified loan types – not solely chasing CRE or competing with low rat
Slide 11: Loan Portfolio Diversified through smaller relationships as well
Loan Portfolio Diversified through smaller relationships as well Portfolio comprised of smaller relationships Loan Commitment Size (in millions) $30 $23 $15 $8 $0 $27.65 $5.00 $2.50 $3.52 $2.01 25 50 75 100 125 150 Number of Loan Relationships Relationship Totals in Legacy Portfolio (in millions) Ra
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 demandA. $1.1 billion – Growth in non-rate sensitive deposits over last 5 years will materially protect Ameris Bank from the sensitivity of a growing fixed rate loan bookA. Growth in non-
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) Los
Slide 14: Earnings – Continued Growth in Revenue
Earnings – Continued Growth in Revenue $50.0 Recurring Quarterly Revenue (in millions) $47.2 $41.6 $40.0 $39.7 $38.1 Revenue (in millions) $34.6 $32.3 $30.0 $28.2 $20.0 1Q 11 3Q 11 1Q 12 3Q 12 1Q 13 3Q 13 1Q 14 Challenging market to grow revenues. Opportunistic approach of Ameris Bank includes: Cont
Slide 15: Earnings - Net Interest Margin
Earnings - Net Interest Margin 4.63% - Normalized net interest margin in 4Q 13 excluding excess liquidity levels 4.10% - Incremental net interest margin from newly acquired earning assets at Prosperity Bank $2.7 million – Additional interest income from “accretion” in 1Q 2014. Up from $1.83 million
Slide 16: Earnings – Non-Interest Income
Earnings – Non-Interest Income 1.75% Non-Interest Income to Assets 1.63% 1.28% 1.25% 0.87% 0.75% 0.82% 0.81% 0.25% 2009 2010 2011 2012 2013 Mortgage: Reached maturity from a revenue and net income standpoint Limited effort to build a larger platform, although we continue looking for strong producers
Slide 17: Why Ameris Bank?
Why Ameris Bank? Proven ability to deploy capital Excellent relationship with potential merger partners and with regulatory agencies 12 transactions since October 2009 Actively re-engineering the Company to operate with improved efficiency ratios Ongoing process looking at systems, products, staffin