Ameris Bancorp · NYSE:ABCB
Ameris Bancorp — Investor Presentation (September 2018)
12 slides from Ameris Bancorp's investor presentation, Sep 20, 2018
Slide 1: Ameris Bancorp Investor Presentation September 2018
Ameris Bancorp Investor Presentation September 2018
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
Consistent balance sheet growth, stable margin and improving efficiency ratio : • Loan and deposit growth outlook still in double - digits • Catalysts already in place for operating efficiency ratio improvement • Maintain stable margin with loan product diversity and lines of business growth to offs
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 Continued 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: Credit Quality and Loan Diversification
Credit Quality and Loan Diversification Agriculture 2.6% C&I 17.2% MUNI 7.1% Consumer 5.0% Investor CRE 18.7% Owner - Occupied CRE 11.8% AC&D 10.9% Multi - Family 3.4% SFR Mortgage 23.4% 2Q 2018 Loan Portfolio • Largest category of loans < 24% of total • Participations purchased < 1% of total loans
Slide 7: 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 Chairman retirement costs and gain/loss on sale of premises (3) Operating efficiency ratio is Core Operating Expense
Slide 8: Total Revenue
Total Revenue Spread Revenues • $1.24 billion or 18.8% growth in average earning assets over 2Q 2018 • Steady margin with strong growth in existing rate environment. Margin (excluding accretion) of 3.81% in current quarter compared to 3.77% a year ago Non - Interest Income • Mortgage Revenue – incre
Slide 9: Net Interest Margin
Net Interest Margin Spread Income and Margin supported by: • Growth in average earning assets of $1.24 billion or 18.8% compared to 2Q17 • Margin (excluding accretion) higher by 4bps compared to 2Q17; despite tax equivalent yield affect of 6bps due to tax law change • Margin (excluding accretion) lo
Slide 10: Expenses – 2Q18
Expenses – 2Q18 • No appreciable increase in core bank operating expenses • Increase in operating expense in lines of business relates to higher commissions and incentives, due to increased production • Continue to monitor expense control throughout the company and look for efficiencies in our admin
Slide 11: Capital and TBV – 2Q18
Capital and TBV – 2Q18 • Historically, consistent growth in TBV • TBV increased $0.26 in 2Q18, even with completion of 2 acquisitions • TBV can grow with consistent earnings while maintaining focus on M&A Consistent Growth in TBV • Focus to grow TCE / TA back to peer averages through consistent earn
Slide 12: 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 will drive us into lower 50 % range over next 18 months Operating Performance Valuation • Material discount on earn
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