Ameris Bancorp · NYSE:ABCB

Ameris Bancorp — Q4 2022 Earnings Presentation

31 slides from Ameris Bancorp's earnings presentation, Jan 26, 2023

  1. Slide 1: 4th Quarter 2022 Results Investor Presentation

    4th Quarter 2022 Results Investor Presentation Exhibit 99.2

  2. Slide 2: Cautionary Statements

    Cautionary Statements This presentation contains forward-looking statements, as defined by federal securities laws, including, among other forward-looking statements, certain plans, expectations and goals. Words such as “may,” “believe,” “expect,” “anticipate,” “intend,” “will,” “should,” “plan,” “e

  3. Slide 3: Ameris Profile and Investment Rationale

    Ameris Profile Investment Rationale Top of peer financial results Culture of discipline – credit, liquidity, expense control, capital preservation Proven stewards of shareholder value – TBV has grown 11% annualized over past five years Experienced executive team with skills and leadership to continu

  4. Slide 4: 4th Quarter 2022 Financial Results

    4th Quarter 2022 Financial Results

  5. Slide 5: 4Q 2022 Operating Highlights

    4Q 2022 Operating Highlights Net income of $82.2 million, or $1.18 per diluted share Adjusted net income(1) of $81.1 million, or $1.17 per diluted share Growth in tangible book value(1) of $1.30 per share, or 4.5%, to $29.92 at December 31, 2022 Improvement in net interest margin of 6bps, from 3.97%

  6. Slide 6: 2022 YTD Operating Highlights

    2022 YTD Operating Highlights Net income of $346.5 million, or $4.99 per diluted share Adjusted net income(1) of $329.4 million, or $4.75 per diluted share Growth in tangible book value(1) of $3.66 per share, or 13.9%, to $29.92 at December 31, 2022, compared with $26.26 at December 31, 2021 Improve

  7. Slide 7: Financial Highlights

    Financial Highlights 1 – Considered Non-GAAP measures – See reconciliation of GAAP to Non-GAAP measures in Appendix 2 – Growth rates are annualized for the applicable periods 3 – Excludes serviced GNMA-guaranteed mortgage loans (dollars in thousands, except per share data) Quarter to Date Results Ye

  8. Slide 8: Diversified Revenue Stream

    Diversified Revenue Stream Strong revenue base of net interest income from core banking division Additional revenue provided by our diversified lines of business Improved mix of earning assets as excess liquidity was deployed in the investment and loan portfolios Mortgage Banking Activity Retail mor

  9. Slide 9: Net Interest Margin

    Net Interest Margin Banking Division Loan Production Details Period Fixed Rate Variable Rate Total 4Q22 $ 399.9 8.16% $ 213.0 7.46% $612.9 7.92% 3Q22 $ 596.3 6.58% $ 528.5 5.90% $1,124.7 6.26% 2Q22 $ 638.3 5.84% $ 427.7 4.35% $1,066.0 5.24% Growth in net interest income of $145.7 million in 2022, co

  10. Slide 10: Expenses

    Expenses Adjusted Operating Expenses and Efficiency Ratio(1) OPEX Highlights Management continues to deliver high performing operating efficiency Adjusted efficiency ratio improved to 49.92% in 4Q22, compared with 50.06% in 3Q22 Total adjusted operating expenses decreased $4.6 million in 4Q22 compar

  11. Slide 11: Balance Sheet Trends

    Balance Sheet Trends Asset sensitivity is moderating as the FOMC nears the end of their tightening cycle: -2.5% asset sensitivity in -100bps -1.2% asset sensitivity in -50bps 1.1% asset sensitivity in +50bps 2.2% asset sensitivity in +100bps A 25bps rate increase positively affects margin by approxi

  12. Slide 12: Strong Core Deposit Base

    Strong Core Deposit Base Deposit Highlights Deposit mix well positioned for future rate increases Improved deposit mix over the past five years such that noninterest bearing deposits now represent 41% of total deposits, a 52% improvement from 27% at 4Q17 Favorable deposit mix provides ability to man

  13. Slide 13: Capital and TBV

    Capital and TBV Proven Stewards of Shareholder Value Management focused on long term growth in TBV(1), such that over the past five years TBV has grown by 11% annualized TBV increased $1.30 per share in 4Q22: $1.04 from retained earnings $0.06 from impact of OCI $0.20 from all other items including

  14. Slide 14: Loan Diversification and Credit Quality

    Loan Diversification and Credit Quality

  15. Slide 15: Diversified Loan Portfolio

    Diversified Loan Portfolio 4Q22 Loan Portfolio Loan portfolio is well diversified across loan types and geographies C&I loans represent second-largest category of loans CRE and C&D concentrations were 292% and 79%, respectively, at 4Q22 Top 25 relationships totaled $2.6 billion, or 9.6% of total com

  16. Slide 16: Loan Production vs Growth

    Loan Production vs Growth 4Q22 loan production was spread across many product lines, which continues to contribute to portfolio diversification During the 4Q22, we purchased a portfolio of loans secured by CSVLI totaling $472.3 million ($873.3 million committed balances). The average FICO score for

  17. Slide 17: Loan Balance Changes

    Loan Balance Changes 4Q22 Loan Balance Changes 4Q22 loan growth was varied across several loan types and totaled $1.05 billion, or 22.3% annualized. Net of the portfolio purchase described below, loan growth totaled $576.1 million, or 12.3% annualized The CSVLI loans that were purchased in 4Q22 are

  18. Slide 18: Equipment Finance Portfolio

    Equipment Finance Portfolio Ameris purchased an equipment finance company with $665.8 million of loans in December 2021 and successfully integrated them during 2022 to include credit, accounting, compliance, technology and HR Total loans at 4Q22 were $1.02 billion. Loan production totaled $189.0 mil

  19. Slide 19: Allowance for Credit Losses

    Allowance for Credit Losses The ACL on loans totaled $205.7 million at 4Q22, a net increase of $20.8 million, or 11.2% from 3Q22 The reserve for unfunded commitments totaled $52.4 million, an increase of $8.2 million, or 18.6% During 4Q22, we recorded a provision expense of $32.9 million The ACL for

  20. Slide 20: NPA / Charge-Off Trend

    NPA / Charge-Off Trend Net of GNMA-guaranteed mortgage loans, NPAs were stable as a percentage of total assets at 0.34% at 4Q22 vs 0.32% at 3Q22 Total NPAs increased $21.5 million, to $153.5 million at 4Q22, primarily as a result of: $15.0 million increase in 90+ past due GNMA-guaranteed mortgage lo

  21. Slide 21: Problem Loan Trends

    Problem Loan Trends Total criticized loans (special mention + classified) declined as a percentage of total loans to 1.37% at 4Q22, excluding GNMA-guaranteed mortgage loans Total classified loans increased $8.5 million, primarily the result of the increase in 90+ past due Premium Finance loans The l

  22. Slide 22: Investor CRE Loans

    Investor CRE Loans Approximately 95% of CRE loans are concentrated within our five-state footprint Stratification of Investor CRE Portfolio Portfolio is well diversified Overall past dues were 0.38% and NPAs 0.16% Office properties are primarily essential-use, credit tenant, or medical office Anchor

  23. Slide 23: Commercial Real Estate Production

    Commercial Real Estate Production 4Q22 Commercial Real Estate Production Summary: 4Q22 Construction and Development Loan Production Summary: 4Q22 production of C&D and CRE loans - $912.6 million in total committed exposure Residential real estate construction: Spec/model to pre-sold ratio of 1.0:1 T

  24. Slide 24: Construction & Development

    Construction & Development Total committed exposure for C&D loans was $5.5 billion at 4Q22 – 27% residential loans and 73% commercial The largest category of CRE construction was multi-family at $2.2 billion, or 56% of the CRE category Overall spec and model to presold ratio in residential construct

  25. Slide 25: C&I Loans

    C&I Loans Premium Finance 4Q22 production statistics: Mortgage warehouse division funded $2.0 billion in 4Q22, a 38% decrease over 4Q21 as higher mortgage rates resulted in lower lending volume Fundings in 4Q22 were lower than 3Q22 by 23% 4Q22 statistics: Total approved guidance lines = $2.1 billion

  26. Slide 26: Mortgage Loans

    Mortgage Loans Mortgage portfolio totaled $4.4 billion and consists of: Legacy bank mortgage loans - $322.7 million Mortgage division originated loans - $3.8 billion Purchased mortgage pools - $56.5 million Home equity loans and LOCs - $213.7 million Portfolio mortgage loans are generally underwritt

  27. Slide 27: Appendix

    Appendix AMERIS BANCORP

  28. Slide 28: Reconciliation of GAAP to Non-GAAP Measures

    Reconciliation of GAAP to Non-GAAP Measures

  29. Slide 29: Reconciliation of GAAP to Non-GAAP Measures

    Reconciliation of GAAP to Non-GAAP Measures

  30. Slide 30: Reconciliation of GAAP to Non-GAAP Measures

    Reconciliation of GAAP to Non-GAAP Measures

  31. Slide 31: Ameris Bancorp Press Release & Financial Highlights December 31, 2022

    Ameris Bancorp Press Release & Financial Highlights December 31, 2022

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