Ameris Bancorp · NYSE:ABCB
Ameris Bancorp — Q1 2013 Earnings Presentation
17 slides from Ameris Bancorp's earnings presentation, May 22, 2013
Slide 1: 1st Quarter 2013 Investor Presentation
Exhibit 99.1 1st Quarter 2013 Investor Presentation
Slide 2: Cautionary Statements
Cautionary Statements This presentation contains certain performance measures may not be necessarily comparable to similar capital measures determined by methods other than in accordance with that may be presented by other companies. accounting principles generally accepted in the United States of A
Slide 3: Corporate Profile
Corporate Profile • Headquartered in Moultrie, Georgia • Founded in 1971 as American Banking Company • Historically grown through acquisitions of smaller banks in areas close to existing operations • Recent growth through de novo expansion strategy and 10 FDIC-assisted transactions • Four state foot
Slide 4: Experienced Management Team
Experienced Management Team Name, Position Experience Previous Experience (Banking / Ameris) Edwin W. Hortman Jr. 32/14 Colony Bankcorp, Inc. Chief Executive Officer Andrew B. Cheney 36/3 Barnett Bank, Mercantile Bank EVP & Chief Operating Officer Dennis J. Zember Jr. 19/7 Flag Financial Corporation
Slide 5: Current Focus
Current Focus Realize the positive impacts of our Earnings Strategies • Continue to drive double digit growth in loans and low-cost/no-cost funding. • Design and implement strategies to build more efficient banking platform. Rationalize branch network and position Bank for faster growth in assets. •
Slide 6: First Quarter Update
First Quarter Update dollars in millions, except per share data Q1 '12 Q2 '12 Q3 '12 Q4 '12 Q1 '13 Change BALANCE SHEET Assets $3,043 $2,920 $2,949 $3,019 $2,862 (5.95)% Loans, net 1,949 1,941 2,015 2,007 1,996 2.41 Tang Common Equity / Assets 7.95% 8.41% 8.27% 8.23% 8.83% 11.07 Tangible Book Value
Slide 7: Loan Portfolio Detail
Loan Portfolio Detail Agriculture C&I Loan Portfolio Detail – 3/31/13 7% Covered 9% 28% Construction Average Loan 6% Loan Type Size Average Rate Non-owner Investor CRE $ 425,335 5.15 % Consumer occupied CRE Installment & 15% C&D 100,350 5.25 Owner Residential 71,248 5.64 Residential Occupied CRE 20%
Slide 8: Loan Portfolio – Loan Pipelines
Loan Portfoliostrong – loan pipelines Growth in Loan Pipelines¹ Lending Strategies $160 • Leveraging presence in new markets (top five markets account for 70% of pipeline: Atlanta, Jacksonville, Loan Pipeline EOQ (in millions) Columbia, Savannah, Charleston $147.2 $139.0 $139.2 $120 $127.4 • Upgradi
Slide 9: Loan Portfolio
Loan Portfolio Diversified through smaller relationships as well Portfolio comprised of smaller relationships $12 $11.53 Relationship Totals in Legacy Portfolio (in millions) Rank Total O/S % of total Top 10 $ 81.81 5.64% $8 Top 50 $ 242.53 16.72% Top 100 $ 376.12 25.93% Top 200 $ 544.95 37.57% $4.2
Slide 10: Significant Value in Deposit Portfolio
Significant Value in Deposit Portfolio Future revenue opportunity is large, and growing • $0.44 per share Additional – earnings embedded in today’s Balance Sheet vs. 2008. Today’s deposit mix would have reduced interest expense by 30% in 2008, or $16.0 million. • Built significant value in our core
Slide 11: FDIC Indemnification Asset
FDIC Indemnification Asset Managing towards the end of loss share protection Classifieds Maturing After L/S All Loans Remaining Original Current I/A on Current % of Months to Estimate of Estimate of % of NBV I/A NBV Loans Bank Original I/A I/A Original Collect Losses Losses Original AUB 24,200 2,088
Slide 12: Earnings Continued – Growth in Revenue
EarningsContinued – Growth in Revenue Revenue growth through this cycle with opportunistic strategies: • 15%+ compounded annual growth rate in total revenue over the last three years • Revenue has grown faster than earning assets • Significant amount of assets that will be deployed over the next 3 y
Slide 13: Earnings – Net Interest Margin
Earnings Net - Interest Margin Net Interest Margin (2) (%) “Acquisition Yields” Loans CDs Quarter Yield Quarter Yield Q4 '11 5.38% Q4 '11 0.67% Q1 '12 5.48% Q1 '12 0.65% Q2 '12 5.45% Q2 '12 0.54% Q3 '12 5.28% Q3 '12 0.51% Q4 '12 5.11% Q4 '12 0.44% Q1 '13 5.13% Q1 '13 0.49% • 79.6% of lost revenue fr
Slide 14: Earnings – Non-Interest Income
EarningsNon-Interest – Income Serious about building strength and diversification in non- interest income sources • Moving away from deposit charges • Researching unique lines of business • Momentum in our numbers coming from mortgage revenue; we believe we can duplicate that strategy with other LOB
Slide 15: Earnings – Corporate Restructure & Improved Efficiency
EarningsCorporate - Restructure & Improved Efficiency Details regarding the recently announced Corporate Restructuring: Branch Rationalization – Closing 20% of our retail branch locations, either in smaller markets or areas where our market share is not sufficient to drive desired profitability. “At
Slide 16: M&A Opportunities
M&A Opportunities (Significant opportunity building in our 4-State Footprint) Southeast Banking Statistics show positive and negative trends. (Datafor 563 bankssmaller than AmerisBankin our four states) • Improvement in credit quality and capital levels of targets and the earnings and multiples of I
Slide 17: Ameris Bancorp
A-merts Bancorp