Ameris Bancorp · NYSE:ABCB
Ameris Bancorp — Q1 2017 Earnings Presentation
14 slides from Ameris Bancorp's earnings presentation, Apr 21, 2017
Slide 1: Ameris Bancorp 1st Quarter 2017 Results
Ameris Bancorp 1 st Quarter 2017 Results Investor Presentation
Slide 2: This presentation contains certain performance measures determined by methods other than in accordance with
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: Current Focus: top quartile operating results, consistently
Almost singular focus of our team right now is “to produce top quartile operating results, consistently” • Manage the momentum we have to produce 20 % + growth in loans and deposits in 2017 • Expand non - interest income lines where appropriate to manage their contribution to EPS and ROA • Continue
Slide 4: Earnings Summary – Operating Basis
Earnings Summary – Operating Basis Quarter to Date Results 1Q17 1Q16 Change Operating Earnings $ 21,606 $ 16,400 32% Earnings Per Share $ 0.60 $ 0.50 20% Return on Assets 1.27% 1.17% 9% Return on TCE 15.84% 15.37% 3 % NIM (net of accretion) 3.79% 3.80% 1% Efficiency Ratio 59.67% 65.44% - 9% Net Over
Slide 5: 1Q 2017 Operating Highlights
1Q 2017 Operating Highlights Relative to the linked 4 th Quarter of 2016 , the Company experienced strong growth in revenue with control of operating expenses . This effort was more than adequate to cover the additional costs of the Equipment Finance team and 22 new employees in BSA . • Organic Loan
Slide 6: QTD Operating Highlights
Q TD Operating Highlights 1Q17 1Q16 Asset Growth (1) 202,825 (28,673) Asset Growth Rate 11.94% - 0.51% Organic Loan Growth 98,512 78,410 Organic Loan Growth Rate 8.50% 9.87% Total Revenue 86,296 74,722 Total Revenue Growth 15.49% 2.39% Core Operating Expenses (2) 52,396 49,318 Core OPEX Growth 8.08%
Slide 7: Total Revenue
Total Revenue Reliable increases in revenue • Up 17% over 1Q16 • Lines of business up 49% over 1Q16 Diversified between spread and non - interest income: • 67.0% of revenue is spread related • Accretion income down to 3.3% of revenue compared to 3.9% in 1Q 2016 Organic Growth in Non - Interest Incom
Slide 8: Net Interest Margin
Net Interest Margin $36.2 $38.6 $45.1 $46.5 $48.2 $51.3 $54.4 $56.0 $59.3 4.05% 3.87% 3.81% 3.74% 3.80% 3.70% 3.75% 3.73% 3.79% 2.50% 3.00% 3.50% 4.00% 4.50% $20.0 $30.0 $40.0 $50.0 $60.0 $70.0 1Q 15 2Q 15 3Q 15 4Q 15 1Q 16 2Q 16 3Q 16 4Q 16 1Q 17 Net Interest Income before Accretion (in millions) M
Slide 9: Expenses – 1Q17
Expenses – 1Q17 • Core bank expenses operating in essentially the same range for 7 quarters while revenue has grown 12 % cumulatively • Line of business expenses have increased 48 % over the past 5 quarters while net income from these groups have increased 52 % 1 – Recurring operating expenses exclu
Slide 10: LOB Approach to Overall Profitability
LOB Approach to Overall Profitability Retail Mortgage US Premium Finance • Loan production increased 16 % to $ 311 . 8 million in the 1 Q 17 vs . 1 Q 16 • Profitability increased to $ 2 . 8 million in the 1 Q 17 , compared to $ 2 . 6 million in 1 Q 16 • Increased in our model given these results in
Slide 11: Top Relationships
Top 300 Relationships Relative Size of our Top 300 Relationships • Top Relationships are small relative to our capital levels and our legal lending limit • Looking for larger deals, but not making big bets especially on CRE • Approximately 30 % of our top 50 relationship $ ’s have liquid collateral
Slide 12: Capital and TBV – 1Q17
Capital and TBV – 1Q17 • 8 quarters of growth in TBV despite M&A • TBV impacted in 1Q by $1.67 per share associated with the capital raise Consistent Growth in TBV • TCE / TA at year end of 8.85%, up from 7.46% at the end of 2016 • 1Q 2017 Operating ROTCE of 15.8% • Normalized ROTCE in the range of
Slide 13: Investment Rationale
Investment Rationale Attractive Multiples • Top Quartile ROA & Top Quartile Growth Rate • ROTCE’s approaching 15 % with normalized capital levels • Efficiency ratio in the 58 % - 59 % range means incremental growth is materially more profitable Operating Performance M&A Opportunities • Disciplined A
Slide 14: Ameris Bancorp Press Release & Financial Highlights
Ameris Bancorp Press Release & Financial Highlights March 31, 2017