Slide 1: 2nd Quarter 2022 Results Investor Presentation
2nd Quarter 2022 Results Investor Presentation Exhibit 99.2
Slide 2: Cautionary Statements
Cautionary Statements 1 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,”
Slide 3: Ameris Profile Investment Rationale
Ameris Profile Investment Rationale Historically top of peer financial results Culture of discipline – credit, liquidity, expense control, capital preservation Proven stewards of shareholder value – TBV has grown 10% annualized over past five years Experienced executive team with skills and leadersh
Slide 4: 2nd Quarter 2022 Financial Results
2nd Quarter 2022 Financial Results
Slide 5: 2Q 2022 Operating Highlights
2Q 2022 Operating Highlights 4 Net income of $90.1 million, or $1.30 per diluted share Adjusted net income(1) of $81.5 million, or $1.18 per diluted share Growth in tangible book value(1) of $1.05 per share, or 3.9%, to $27.89 at June 30, 2022 Only $0.16 dilution, or less than 1%, in tangible book v
Slide 6: 2022 YTD Operating Highlights
2022 YTD Operating Highlights 5 Net income of $171.8 million, or $2.47 per diluted share Adjusted net income(1) of $156.5 million, or $2.25 per diluted share Growth in tangible book value(1) of $1.63 per share, or 6.2%, to $27.89 at June 30, 2022, compared with $26.26 at December 31, 2021 Improvemen
Slide 7: Financial Highlights
Financial Highlights 6 1 – Considered Non-GAAP measures – See reconciliation of GAAP to Non-GAAP measures in Appendix 2 – Growth rates are annualized for the applicable periods
Slide 8: Revenue
Revenue 7 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 Diversified Revenue Stream Mortgage Banking Activity
Slide 9: Net Interest Margin
Net Interest Margin 8 Average earning assets grew by $23.0 million, while spread income increased $18.8 million compared with 1Q22 Margin up 31bps from 1Q22: 26bps due to reduction in excess liquidity and higher cash yield 5bps due to higher loan yield Total deposit costs up only 1bp from 1Q22 due t
Slide 10: Expenses
Expenses Adjusted Operating Expenses and Efficiency Ratio(1) OPEX Highlights 9 Total adjusted operating expenses decreased $614,000 in 2Q22 compared with 1Q22 Decrease of $647,000 in 2Q22 banking division operating expenses primarily due to: $1.8 million seasonal decrease in payroll taxes $729,000 s
Slide 11: Retail Mortgage Division Details
Retail Mortgage Division Details 10 Rationalization and Stabilization of Mortgage Operations: Retail mortgage originations represent 8.5% of the Company’s adjusted pre-provision, pre-tax income for 2Q22, down from 21.5% this time last year Approximately $15.3 million, or 74%, of the net interest inc
Slide 12: Balance Sheet Trends
Balance Sheet Trends 11 Well positioned for rising rate environment: 1.9% asset sensitivity in +50bps 3.8% asset sensitivity in +100bps 7.4% asset sensitivity in +200bps A 25bps rate increase positively affects margin by approximately 4bps Approximately $5.3 billion, or 30%, of loans are variable ra
Slide 13: Strong Core Deposit Base
Strong Core Deposit Base 12 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 41.98% of total deposits, a 45% improvement from 28.88% at 2Q17 Excess liquidity of $1.5 billion pr
Slide 14: Capital and TBV
Capital and TBV Proven Stewards of Shareholder Value 13 Management focused on long term growth in TBV(1), such that over the past five years TBV has grown by 10% annualized TBV increased $1.05 per share in 2Q22: $1.15 from retained earnings ($0.16) from impact of OCI $0.06 from all other items inclu
Slide 15: Loan Diversification and Credit Quality
Loan Diversification and Credit Quality
Slide 16: Diversified Loan Portfolio
Diversified Loan Portfolio 2Q22 Loan Portfolio 15 Loan portfolio is well diversified across loan types and geographies C&I loans represent second-largest category of loans Balboa Capital totaled $821.8 million at 2Q22, or 4.7% of total loans, which added ~4% to this category CRE and C&D concentratio
Slide 17: Loan Production vs Growth
Loan Production vs Growth 16 2Q22 production was driven by: Construction Loan Commitments ($1.2 billion), Residential Mortgage Loans ($604.1 million), Commercial Real Estate ($581.4 million), Premium Finance ($488.6 million), C & I Loans ($342.6 million) and Balboa Capital ($153.5 million) *Loan pro
Slide 18: Loan Balance Changes
Loan Balance Changes 2Q22 Loan Balance Changes 17 2Q22 loan growth totaled $1.42 billion, or 35.1% annualized Growth was primarily driven by residential mortgages as we successfully executed on our strategy of investing excess liquidity at favorable rates. Mortgage loans booked in 2Q22 via the Mortg
Slide 19: Balboa Capital Portfolio
Balboa Capital Portfolio 18 Balboa Capital is a 34 year-old small business lender having successfully operated through several recessions over that period Day 1 acquired loans totaled $665.8 million Total loans at 2Q22 were $821.8 million, or an annualized growth rate of 19.2% from YE21 2Q22 product
Slide 20: Allowance for Loan Losses
Allowance for Loan Losses 19 The ALLL totaled $172.6 million at 2Q22, a net increase of $11.3 million, or 7.0%, from 1Q22 The reserve for unfunded commitments totaled $44.0 million, an increase of $1.8 million, or 4.2%, from 1Q22 During 2Q22, we recorded a provision expense of $14.9 million, primari
Slide 21: NPA / Charge-Off Trend
NPA / Charge-Off Trend 20 Non-Performing Assets (“NPAs”) increased $21.2 million, to $132.4 million at 2Q22, primarily as a result of: $7.3 million increase in 90+ past due GNMA mortgage loans $8.0 million increase in CRE loans due to one loan downgrade $6.2 million increase in 90+ past due portfoli
Slide 22: Problem Loan Trends
Problem Loan Trends 21 Total classified loans increased $3.9 million, primarily the result of increased 90+ past due GNMA and portfolio mortgage loans Criticized loans (special mention + classified) increased $20.6 million The largest watch list component was SFR mortgage loans at $99.2 million (38%
Slide 23: Investor CRE Loans
Investor CRE Loans 22 Approximately 93% of CRE loans are concentrated within our five-state footprint
Slide 24: Commercial Real Estate Production
Commercial Real Estate Production 2Q22 Commercial Real Estate Production Summary: 23 2Q22 Construction and Development Loan Production Summary: 2Q22 production of C&D and CRE loans - $1.75 billion in total committed exposure Residential real estate construction: Spec/model to pre-sold ratio of 0.7:1
Slide 25: Appendix
Appendix AMERIS BANCORP
Slide 26: Reconciliation of GAAP to Non-GAAP Measures
25 Reconciliation of GAAP to Non-GAAP Measures
Slide 27: Reconciliation of GAAP to Non-GAAP Measures
26 Reconciliation of GAAP to Non-GAAP Measures
Slide 28: Reconciliation of GAAP to Non-GAAP Measures
27 Reconciliation of GAAP to Non-GAAP Measures
Slide 29: Ameris Bancorp Press Release & Financial Highlights June 30, 2022
Ameris Bancorp Press Release & Financial Highlights June 30, 2022