Slide 1: 4th Quarter 2020 Results Investor Presentation
4th Quarter 2020 Results Investor Presentation Exhibit 99.2
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
Slide 3: Risk Management, Operating Strength, Diversification
Risk Management Operating Strength Diversification Entered pandemic in position of strength and forward momentum: Well capitalized Strong liquidity and continued funding opportunities Premier Southeastern markets Historically top quartile return on assets (≥1.50% ROA for last three years) Discipline
Slide 4: 4th Quarter 2020 Financial Results
4th Quarter 2020 Financial Results
Slide 5: Earnings Summary – Adjusted Basis
Earnings Summary – Adjusted Basis (dollars in thousands, except per share data) Quarter to Date Results Year To Date Results 4Q20 4Q19 Change 2020 2019 Change Adjusted Net Income $ 101,995 $ 66,608 53% $ 300,501 $ 222,944 35% Adjusted Net Income Per Share $ 1.47 $ 0.96 53% $ 4.33 $ 3.80 14% Adjusted
Slide 6: 4Q 2020 Operating Highlights
4Q 2020 Operating Highlights Net income of $94.3 million, or $1.36 per diluted share Adjusted net income of $102.0 million, or $1.47 per diluted share Adjusted efficiency ratio of 52.67%, compared with 47.34% in 3Q20 Adjusted ROA of 2.04%, compared with 2.35% in 3Q20 Adjusted ROTCE of 25.04%, compar
Slide 7: 2020 YTD Operating Highlights
2020 YTD Operating Highlights Net income of $262.0 million, or $3.77 per diluted shares, after pre-tax provision for credit losses of $145.4 million Adjusted net income of $300.5 million, or $4.33 per diluted share Growth in adjusted total revenue of $424.1 million, or 60.2% when compared with 2019
Slide 8: Operating Highlights
Operating Highlights (dollars in thousands) For the quarter For the year to date period 4Q20 4Q19 2020 2019 Asset Growth (1) 564,787 478,302 2,196,059 6,799,064 Asset Growth Rate 11.37% 10.77% 12.04% 59.41% Organic Loan Growth (462,668) (95,095) 1,662,449 751,811 Organic Loan Growth Rate -12.38% -3.
Slide 9: Total Revenue
Total Revenue Spread Revenues Quarterly growth in average earning assets of $80.1 million, or 0.4%, from 3Q20 to 4Q20 Net Interest Margin of 3.64% in 4Q20, flat compared with 3Q20, and down from 3.86% in 4Q19 Continued focus on cost of funds led to stable margin quarter over quarter Downward reprici
Slide 10: Net Interest Margin
Net Interest Margin Loan Production Details Period Fixed Rate Variable Rate Total 4Q20 $ 588.4 3.77% $ 196.5 4.14% $ 784.9 3.86% 3Q20 $ 474.9 3.78% $ 394.1 4.27% $ 869.0 4.00% 2Q20 $ 275.4 3.88% $ 196.7 4.55% $ 472.1 4.16% Spread Income and Margin: Average earning assets were up $80.1 million, while
Slide 11: Expenses Steady, Adjusted Operating Expenses
Expenses Steady, Adjusted Operating Expenses(1) OPEX Highlights: Total adjusted operating expenses decreased $2.2 million in 4Q20 compared with 3Q20 Increase of $2.5 million in Q4 20 Banking division operating expenses primarily due to: $1.0 million contribution to Ameris Bank Foundation $765,000 re
Slide 12: Capital and TBV
Capital and TBV Consistent Growth in TBV Steady Capital Levels Support Growth Rate Historically, consistent growth in TBV TBV increased $1.23 per share in 4Q20: $1.20 from retained earnings $0.03 from all other items including treasury stock transactions TBV negatively impacted $0.82 by adoption of
Slide 13: Loan Diversification and Credit Quality
Loan Diversification and Credit Quality
Slide 14: Diversified Loan Portfolio
Diversified Loan Portfolio 4Q20 Loan Portfolio Loan portfolio is well-diversified across all loan types C&I loans represent the largest category of loans PPP loans totaled $848.2 million at YE20, which added ~5% to this category Only 11% of total loans are construction or A&D loans Average loan size
Slide 15: Diversified Loan Portfolio
Diversified Loan Portfolio In-house lending limit is $50.0 million versus our legal lending limit of $536.7 million Largest commitment of $100.0 million represents Mortgage Warehouse line of credit comprised of well diversified, individual mortgage loans Largest single commercial loan is $60.4 milli
Slide 16: COVID-19 Response
COVID-19 Response 4Q20 COVID-related Payment Extensions As a % of Portfolio Volume Our COVID-19 disaster program included an initial payment extension for up to 90-days. Additional deferrals were available for customers that continued to be impacted by the pandemic since that time Through YE20, we h
Slide 17: Allowance for Loan Losses
Allowance for Loan Losses The ALLL totaled $199.4 million at YE20, a net decrease of $32.5 million, or 14% from 3Q20 The reserve for unfunded commitments totaled $32.9 million, an increase of $5.5 million, or 20% from 3Q20 During 4Q20, $1.5 million of prior provision expense was reversed, primarily
Slide 18: NPA / Charge-Off Trend
NPA / Charge-Off Trend Non-Performing Assets (“NPA”) decreased to $97.2 million at YE20, primarily as a result of: $23.8 million decrease in hotel nonaccrual loans as a result of the note sale Decrease in portfolio mortgage nonaccrual loans of $31.7 million, as borrowers were placed in new CARES Act
Slide 19: Investor CRE Loans
Investor CRE Loans ~ 94% of CRE loans are concentrated within our four-state footprint, primarily in the Bank’s primary MSAs of Atlanta, Jacksonville, Orlando, Tallahassee, Columbia, Savannah and Charleston Loans outside the Bank’s footprint are generally acquired loans or SBA guaranteed Updated as
Slide 20: Hotel Exposure
Hotel Exposure Hotel exposure totaled $515.6 million at YE20, or 3.8% of Total Loans (excluding PPP loans). Approximately 14% of total committed exposure guaranteed by US Government Agencies (SBA or USDA). Top-Tier brands represent > 82% of exposure. All National brands totaled > 95% of committed ba
Slide 21: Commercial Real Estate Production
Commercial Real Estate Production 4Q20 Commercial Real Estate Production Summary: 4Q20 Construction and Development Loan Production Summary: 4Q20 production of C&D and CRE loans - $1.05 billion committed exposure Residential Real Estate Construction: Spec & model to pre-sold ratio of 0.7:1 RRE const
Slide 22: C&I Loans
C&I Loans US Premium Finance 4Q20 production statistics: Mortgage Warehouse Division funded $4.6 billion in 4Q20, a 100% increase over 4Q19 YTD, total loans funded were $14.6 billion 4Q20 Statistics: Total approved guidance lines = $1.6 billion Average days on line = 14 days No losses since 2016 Upd
Slide 23: Ameris Bancorp Press Release & Financial Highlights December 31, 2020
Ameris Bancorp Press Release & Financial Highlights December 31, 2020