Ameris Bancorp · NYSE:ABCB
Ameris Bancorp — Q1 2015 Earnings Presentation
11 slides from Ameris Bancorp's earnings presentation, Apr 23, 2015
Slide 1: Ameris Bancorp 1st Quarter 2015 Earnings Presentation
Ameris Bancorp 1 st Quarter 2015 Earnings Presentation Edwin W. Hortman, Jr. – President & CEO Dennis J. Zember, Jr. – EVP & CFO
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: Pending Acquisition Updates
• Announced acquisition covering $ 866 . 9 million in deposits • Virtually no runoff - Most recent update shows $ 864 . 4 million in total deposits (down 0 . 2 % ) vs . management estimate of 10 % • Build out of Ameris Bank customer care center and information technology systems underway ( 21 staff
Slide 4: 1st Quarter Operating Results
1 st Quarter Operating Results 1Q15 4Q14 1Q14 Interest Income before Accretion 39,271 40,620 35,193 Accretion income 3,097 4,280 2,680 Interest Expense 3,536 3,893 3,389 Net Interest Income 38,832 41,007 34,484 Provision for loan losses 1,069 888 1,726 Non - Interest Income 17,575 16,362 12,754 Core
Slide 5: Revenues – 1Q15
Revenues – 1Q15 $26.2 $27.7 $27.9 $27.2 $34.8 $33.1 $36.7 $37.2 $36.2 $10.0 $20.0 $30.0 $40.0 1Q 13 3Q 13 1Q 14 3Q 14 1Q 15 Net Interest Income (TE) before Accretion (in millions) • Average loans outstanding slightly lower in 1 Q 15 vs 4 Q 14 • Finished the 1 Q 15 with strong production and going in
Slide 6: Non-Interest Income – 1Q15
Non - Interest Income – 1Q15 $6.9 $6.4 $5.9 $5.6 $6.9 $10.3 $12.0 $10.7 $11.8 $2.0 $5.0 $8.0 $11.0 $14.0 1Q 13 3Q 13 1Q 14 3Q 14 1Q 15 Mortgage and SBA Revenues (in millions) • Mortgage and SBA net income totaled $ 3 . 1 million in 1 Q 15 vs . $ 2 . 3 million in 4 Q 14 and $ 1 . 1 million 1 Q 14 ; N
Slide 7: Expenses – 1Q15
Expenses – 1Q15 $24.0 $24.3 $25.4 $28.0 $30.6 $31.6 $34.8 $36.4 $37.7 $0.0 $10.0 $20.0 $30.0 $40.0 1Q 13 3Q 13 1Q 14 3Q 14 1Q 15 Core Operating Expenses (1) (in millions) • 1 Q 15 includes approximately $ 1 . 4 million that we do not believe will be recurring in 2 Q 15 (detailed on following slide)
Slide 8: Expenses – 1Q15
Expenses – 1Q15 Change compared to: Expense 1Q15 4Q14 1Q14 Salaries total $14,013 $440 $1,759 Coastal Salaries are approximately $1.37 million, remainder is build - out in I/T and customer care centers Incentive & FICA 3,242 1,158 1,431 Includes $900k of FICA on 2015 bonuses; Not recurring in 2Q15;
Slide 9: Loans – 1Q15
Loans – 1Q15 $1.49 $1.56 $1.59 $2.07 $2.13 $2.47 $2.52 $2.56 $2.64 $0.0 $0.5 $1.0 $1.5 $2.0 $2.5 $3.0 1Q 13 3Q 13 1Q 14 3Q 14 1Q 15 Legacy & PNC (1) Loans Outstanding (in billions) • 1 Q 15 Loans outstanding increased 12 % annualized against the 4 Q 14 • Pipelines going into 2 Q 15 are strong ; We a
Slide 10: Deposits – 1Q15
Deposits – 1Q15 $491 $475 $476 $669 $699 $791 $817 $839 $967 $0 $400 $800 $1,200 1Q 13 3Q 13 1Q 14 3Q 14 1Q 15 NIB Demand Deposits (in millions) $1,217 $1,163 $1,146 $1,241 $1,485 $1,517 $1,706 $1,794 $1,818 $0 $400 $800 $1,200 $1,600 $2,000 1Q 13 3Q 13 1Q 14 3Q 14 1Q 15 Non - Rate Sensitive Deposit
Slide 11: Capital and TBV – 1Q15
Capital and TBV – 1Q15 9.15% 9.22% 6.83% 7.53% 7.04% 7.27% 7.42% 10.26% 7.07% 4.0% 6.0% 8.0% 10.0% 12.0% 2Q 13 4Q 13 2Q 14 4Q 14 Proforma Tangible Book Value • Steady capital levels ( proforma ) despite having a balance sheet much more centered in cash and securities • TCE at 1 Q 15 includes effect