Ameris Bancorp · NYSE:ABCB
Ameris Bancorp — Q1 2018 Earnings Presentation
13 slides from Ameris Bancorp's earnings presentation, Apr 20, 2018
Slide 1: Ameris Bancorp 1st Quarter 2018 Results Investor Presentation
Ameris Bancorp 1 st 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: Almost singular focus of our team right now is to produce top quartile operating results
Almost singular focus of our team right now is “to produce top quartile operating results, consistently” • Manage the momentum we have to produce 15 % + growth in loans and deposits in 2018 • Continue to manage stable margins in various growth and rate scenarios • Expand non - interest income lines
Slide 4: Earnings Summary – Operating Basis
Earnings Summary – Operating Basis 3 Quarter to Date Results 1Q18 1Q17 Change Operating Earnings $ 27,780 $ 21,606 29% Earnings Per Share $ 0.73 $ 0.60 22% Return on Assets 1.44% 1.27% 13% Return on TCE 17.09% 15.84% 8% NIM (net of accretion) 3.84% 3.79% 1% Efficiency Ratio 59.95% 59.67% .5% Net Ove
Slide 5: 1Q 2018 Operating Highlights
1Q 2018 Operating Highlights • Growth in adjusted net earnings of 28.6% compared with 1Q 2017 • Organic Loan Growth of $153.8 million, or 10.8% annualized during 1Q 2018 • Net Interest Margin (excluding accretion) expanded by 2bps compared to 4Q 2017 • Operating efficiency ratio of 59.95% compared t
Slide 6: Income Tax Law Impact
Income Tax Law Impact • 1Q18 Effective tax rate of 22.4% • Positive impact to EPS of $0.08 • Positive impact to ROA of 17 bps • Negative impact to margin of 6 bps due to tax equivalent adjustment on municipal securities and loans 5
Slide 7: Operating Highlights
Operating Highlights (1) Core Operating expenses exclude merger related charges and gain/loss on sale of premises (2) Operating efficiency ratio is Core Operating Expenses divided by Net Interest Income and Non - interest income 6 1Q18 1Q17 Asset Growth 166,625 202,825 Asset Growth Rate 8.60% 11.94%
Slide 8: Total Revenue
Total Revenue Spread Revenues • $867.9 million or 13.7% growth in average earning assets over 1Q 2017 • Steady to increasing margin despite strong growth in existing rate environment. Margin (excluding accretion) of 3.84% in current quarter compared to 3.79% a year ago Non - Interest Income • Mortga
Slide 9: Net Interest Margin
Net Interest Margin Spread Income and Margin supported by: • Growth in average earning assets of $867.9 million or 13.7% compared to 1Q17 • Margin (excluding accretion) higher by 2bps; despite tax equivalent yield affect of 6bps due to tax law change Accretion income a decreasingly lower part of our
Slide 10: Expenses – 1Q18
Expenses – 1Q18 • Basically no increase in core bank operating expenses, even with the buildout of the robust BSA department • Continue to monitor expense control throughout the company and look for efficiencies in our administrative functions • Operating expenses (excluding merger costs and loss on
Slide 11: Capital and TBV – 1Q18
Capital and TBV – 1Q18 • Historically, consistent growth in TBV • TBV negatively impacted in 1Q18 by $0.25 per share due to increase in unrealized loss on available for sale securities Consistent Growth in TBV • TCE / TA at quarter end of 8.30%, down from 8.62% due to an increase in goodwill resulti
Slide 12: Investment Rationale
Investment Rationale Organic Growth Opportunities • Top Quartile ROA & Top Quartile Growth Rate • Strong ROTCE’s that support organic and M&A growth . • Efficiency ratio below 60 % ahead of pending M&A deals that should drive additional operating leverage . Operating Performance M&A Opportunities •
Slide 13: Ameris Bancorp Press Release & Financial Highlights March, 2018
Ameris Bancorp Press Release & Financial Highlights March 31, 2018