abcb-8k_20210128.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934


Date of report (Date of earliest event reported):	January 28, 2021


Ameris Bancorp
(Exact Name of Registrant as Specified in Charter)
Georgia	001-13901	58-1456434
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

3490 Piedmont Road N.E., Suite 1550, Atlanta, Georgia

30305

(Address of Principal Executive Offices)

(Zip Code)


Registrant’s telephone number, including area code:	(404) 639-6500

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $1.00 per share	ABCB	Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On January 28, 2021, Ameris Bancorp (the “Company”) issued a press release announcing its unaudited financial results for the quarter and fiscal year ended December 31, 2020. A copy of that press release is attached to this Current Report on Form 8-K (this “Report”) as Exhibit 99.1.

The information contained in this Item 2.02 and in Exhibit 99.1 attached to this Report is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of such section. Furthermore, such information shall not be deemed to be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended.

Item 7.01 Regulation FD Disclosure.

A copy of the investor presentation material that the Company will present regarding its earnings during the teleconference beginning at 9:00 a.m. Eastern time on January 29, 2021 is attached to this Report as Exhibit 99.2. The investor presentation material is also available on the “Investor Relations” page of the Company’s website (http://www.amerisbank.com).

The information contained in this Item 7.01 and in Exhibit 99.2 attached to this Report is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of such section. Furthermore, such information shall not be deemed to be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended.

Item 9.01 Financial Statements and Exhibits.

(d)		Exhibits.
99.1		Press release dated January 28, 2021
99.2		Investor Presentation re: 4^th Quarter 2020 Results
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.


AMERIS BANCORP
By:	/s/ Nicole S. Stokes
	Nicole S. Stokes
	Chief Financial Officer

Date: January 28, 2021

Exhibit 99.1

Ameris Bancorp Announces Fourth Quarter And Full Year 2020 Financial Results

ATLANTA, Jan. 28, 2021 /PRNewswire/ -- Ameris Bancorp (Nasdaq: ABCB) (the "Company") today reported net income of $94.3 million, or $1.36 per diluted share, for the quarter ended December 31, 2020, compared with $61.2 million, or $0.88 per diluted share, for the quarter ended December 31, 2019. The increase in net income is primarily attributable to increases in mortgage banking activity of $62.0 million and net interest income of $8.1 million, partially offset by an increase of $22.8 million in salaries and employee benefits, compared with the fourth quarter of 2019. The Company reported adjusted net income of $102.0 million, or $1.47 per diluted share, for the quarter ended December 31, 2020, compared with $66.6 million, or $0.96 per diluted share, for the same period in 2019. Adjusted net income excludes after-tax merger and conversion charges, servicing right valuation adjustments, restructuring charges related to branch consolidations and efficiency initiatives, certain legal expenses, (gain) loss on sale of bank premises and expenses related to natural disasters and the COVID-19 pandemic.

For the year ended December 31, 2020, the Company reported net income of $262.0 million, or $3.77 per diluted share, compared with $161.4 million, or $2.75 per diluted share, for the year ended December 31, 2019. The Company reported adjusted net income of $300.5 million, or $4.33 per diluted share, for the year ended December 31, 2020, compared with $222.9 million, or $3.80 per diluted share, for the year ended December 31, 2019. Adjusted net income for the year excludes the same items listed above for the Company's fourth quarter.

Commenting on the Company's results, Palmer Proctor, the Company's Chief Executive Officer, said, "Last quarter, I commented on the optimistic outlook for the remainder of 2020 and we delivered on that optimism this quarter. Our team remained focused and we had many successes during the quarter, including reducing our NPAs down to 48bps of total assets, maintaining our margin and continuing to safely grow the balance sheet to over $20 billion in assets for the first time in our history. While 2020 was not the year that we had anticipated, I am extremely pleased with the adaptability of our Ameris teammates, our ability to serve our customers and our record financial results this year. We are well positioned for 2021 and look forward to our continued success."

Significant items from the Company's results for the fourth quarter of 2020 include the following:

Net income of $94.3 million, or $1.36 per diluted share, compared with $116.1 million, or $1.67 per diluted share, for the third quarter of 2020
Tangible book value growth of $1.23 per share, or 5.5%, to $23.69 compared with $22.46 last quarter
Successfully negotiated the termination of our remaining loss-share agreements with the FDIC
Net interest margin stable at 3.64%, compared with the third quarter of 2020
Reduced exposure to hotel industry by $87.5 million through the sale of selected notes
Non-performing assets decreased to 0.48% of total assets at December 31, 2020, compared with 0.82% at September 30, 2020

Highlights of the Company's results for the full year 2020 include the following:

Growth in net income of $100.5 million, from $161.4 million in 2019 to $262.0 million in 2020
Adjusted return on average assets of 1.56%, compared with 1.52% in 2019
Improvement in adjusted efficiency ratio to 52.17% in 2020, compared with 55.67% in 2019
Growth in tangible book value of 13.8%, from $20.81 at the end of 2019 to $23.69 at the end of 2020
Organic growth in loans of $1.66 billion, or 13.0% (and $834.8 million, or 6.5%, exclusive of PPP loans)
Improvement in deposit mix such that noninterest bearing deposits represent 36.27% of total deposits, up from 29.94% at December 31, 2019

Following is a summary of the adjustments between reported net income and adjusted net income:

Adjusted Net Income Reconciliation
	Three Months Ended						Year Ended
	December 31,						December 31,
(dollars in thousands, except per share data)	2020			2019			2020			2019
Net income available to common shareholders	$	94,285		$	61,248		$	261,988		$	161,441

Adjustment items:
Merger and conversion charges	—			2,415			1,391			73,105
Restructuring charges	—			—			1,513			245
Servicing right impairment	9,501			366			40,067			507
Gain on BOLI proceeds	—			752			(948)			(3,583)
Expenses related to SEC and DOJ investigation	53			463			3,058			463
Natural disaster and pandemic charges (Note 1)	235			—			3,296			(39)
(Gain) loss on sale of premises	(30)			1,413			624			6,021
Tax effect of adjustment items (Note 2)	(2,049)			(898)			(10,488)			(16,065)
After-tax adjustment items	7,710			4,511			38,513			60,654

Tax expense attributable to merger related compensation and acquired BOLI	—			849			—			849
Adjusted net income	$	101,995		$	66,608		$	300,501		$	222,944

Reported net income per diluted share	$	1.36		$	0.88		$	3.77		$	2.75
Adjusted net income per diluted share	$	1.47		$	0.96		$	4.33		$	3.80

Reported return on average assets	1.89		%	1.35		%	1.36		%	1.10		%
Adjusted return on average assets	2.04		%	1.47		%	1.56		%	1.52		%

Reported return on average common equity	14.30		%	9.97		%	10.35		%	8.19		%
Adjusted return on average tangible common equity	25.04		%	18.45		%	19.77		%	18.74		%

Note 1: Pandemic charges include "thank you" pay for certain employees, additional sanitizing expenses at our locations, protective equipment for our employees and branch locations, and additional equipment required to support our remote workforce.
Note 2: A portion of the merger and conversion charges are nondeductible for tax purposes.

Net Interest Income and Net Interest Margin

Net interest income on a tax-equivalent basis for 2020 totaled $642.9 million, compared with $509.5 million for 2019. The Company's net interest margin was 3.70% for 2020, down from 3.88% reported for 2019. Accretion income for 2020 increased to $27.4 million, compared with $19.9 million for 2019. The decrease in net interest margin is primarily attributable to a decrease in the yield on earning assets resulting from declines in market interest rates, partially offset by a decrease in funding costs.

Net interest income on a tax-equivalent basis for the fourth quarter of 2020 totaled $164.8 million, compared with $163.9 million for the third quarter of 2020 and $156.5 million for the fourth quarter of 2019. The Company's net interest margin was 3.64% for the fourth quarter of 2020, flat compared with 3.64% reported for the third quarter of 2020 and down from 3.86% reported for the fourth quarter of 2019. The stability in net interest margin in the current quarter is primarily attributable to continued focus on management of cost of funds as yields on earning assets decline. Contributing to net interest income for the fourth quarter of 2020 was $6.3 million related to accelerated fee income on PPP loan forgiveness, partially offset by $2.3 million in interest reversals related to the sale of certain hotel loans. Accretion income for the fourth quarter of 2020 decreased to $4.7 million, compared with $6.5 million for the third quarter of 2020 and $9.7 million for the fourth quarter of 2019. The decrease in accretion income in the fourth quarter is primarily attributable to decreased accretion on payoffs compared with the third quarter of 2020.

Yields on loans decreased to 4.41% during the fourth quarter of 2020, compared with 4.42% for the third quarter of 2020 and 5.28% reported for the fourth quarter of 2019. Loan production in the banking division during the fourth quarter of 2020 totaled $784.9 million, with weighted average yields of 3.86%, compared with $869.0 million and 4.00%, respectively, in the third quarter of 2020 and $1.1 billion and 4.70%, respectively, in the fourth quarter of 2019. Loan production in the lines of business (including retail mortgage, warehouse lending, SBA and premium finance) amounted to an additional $7.7 billion during the fourth quarter of 2020, with weighted average yields of 3.25%, compared with $7.7 billion and 3.33%, respectively, during the third quarter of 2020 and $4.1 billion and 4.29%, respectively, during the fourth quarter of 2019.

Interest expense during the fourth quarter of 2020 decreased to $15.3 million, compared with $17.4 million in the third quarter of 2020 and $38.7 million in the fourth quarter of 2019. The Company's total cost of funds moved five basis points lower to 0.36% in the fourth quarter of 2020 as compared with the third quarter of 2020. Deposit costs decreased eight basis points during the fourth quarter of 2020 to 0.22%, compared with 0.30% in the third quarter of 2020. Costs of interest-bearing deposits decreased during the quarter from 0.47% in the third quarter of 2020 to 0.34% in the fourth quarter of 2020.

Noninterest Income

Noninterest income increased $248.4 million, or 125.4%, to $446.5 million for 2020, compared with $198.1 million for 2019, as a result of increased mortgage banking activity. Mortgage banking activity increased $254.7 million, or 213.3%, to $374.1 million for 2020, compared with $119.4 million for 2019, as a result of a production increase of $5.44 billion, or 125.9%, over the same period. Gain on sale spreads increased to 3.79% in 2020 compared with 2.75% in 2019.

Noninterest income decreased $46.9 million, or 29.5%, in the fourth quarter of 2020 to $112.1 million, compared with $159.0 million for the third quarter of 2020, primarily as a result of decreased mortgage banking activity.

Mortgage banking activity decreased $43.4 million, or 31.3%, to $95.2 million in the fourth quarter of 2020, compared with $138.6 million for the third quarter of 2020. This decrease was a result of decreased production, increased servicing right impairment and a decline in the retail mortgage open pipeline, partially offset by an expansion in our gain on sale spread. Gain on sale spreads increased to 4.34% in the fourth quarter of 2020 from 3.92% for the third quarter of 2020. Total production in the retail mortgage division decreased to $2.81 billion in the fourth quarter of 2020, compared with $2.92 billion for the third quarter of 2020. Mortgage banking activity was negatively impacted during the fourth quarter of 2020 by a $9.1 million servicing right impairment, compared with an impairment of $1.1 million for the third quarter of 2020. The retail mortgage open pipeline was $2.00 billion at the end of the fourth quarter of 2020, compared with $2.71 billion at September 30, 2020.

Service charge revenue increased $551,000, or 5.0%, to $11.5 million in the fourth quarter of 2020, compared with $10.9 million for the third quarter of 2020, resulting from an increase in volume. Other noninterest income decreased $3.9 million, or 46.4%, to $4.5 million for the fourth quarter of 2020, compared with $8.4 million for the third quarter of 2020, primarily as a result of decreases in the gain on sales of SBA loans and SBA servicing right valuation adjustment of $2.7 million and $1.1 million, respectively.

Noninterest Expense

Noninterest expense increased $126.7 million, or 26.8%, to $598.6 million in 2020, compared with $471.9 million in 2019. During 2020, the Company recorded $9.9 million of charges to earnings, the majority of which related to natural disaster and pandemic charges and certain legal expenses, compared with $79.8 million in charges in 2019 that were principally related to merger and conversion charges and loss on sale of premises. Excluding these charges, adjusted expenses increased $196.6 million, or 50.1%, to $588.7 million in 2020, from $392.1 million in 2019. The majority of this increase is attributable to the acquisition of Fidelity Bank and variable expenses related to increased mortgage production. The Company continues to focus on its operating efficiency ratio, such that the adjusted efficiency ratio improved from 55.67% in 2019 to 52.17% in 2020.

Noninterest expense decreased $2.6 million, or 1.7%, to $151.1 million during the fourth quarter of 2020, compared with $153.7 million for the third quarter of 2020. During the fourth quarter of 2020, the Company recorded $258,000 of charges to earnings, related to certain legal expenses, natural disaster and pandemic charges and (gain) loss on sale of premises, compared with $647,000 in charges in the third quarter of 2020 that were related to the same items, in addition to merger and conversion charges and restructuring charges associated with branch consolidations and efficiency initiatives. Excluding these charges, adjusted expenses decreased approximately $2.2 million, or 1.4%, to $150.9 million in the fourth quarter of 2020, from $153.0 million in the third quarter of 2020. The majority of this decrease is attributable to variable expenses related to decreased mortgage production. Also during the fourth quarter, the Company incurred a $765,000 expense related to the final termination of the remaining loss-share agreements with the FDIC. The Company made a $1.0 million donation to the Ameris Bank Foundation as well. The adjusted efficiency ratio was 52.67% in the fourth quarter of 2020, compared with 47.34% in the third quarter of 2020.

Income Tax Expense

The Company's effective tax rate for the fourth quarter of 2020 was 25.2%, compared with 22.7% in the third quarter of 2020. The increased rate for the fourth quarter of 2020 was primarily a result of a large return to provision adjustment when the Company filed its 2019 income tax returns in the fourth quarter of 2020.

Balance Sheet Trends

Total assets at December 31, 2020 were $20.44 billion, compared with $18.24 billion at December 31, 2019. Total loans, including loans held for sale, were $15.65 billion at December 31, 2020, compared with $14.48 billion at December 31, 2019. Total loans held for investment were $14.48 billion at December 31, 2020, compared with $12.82 billion at December 31, 2019, an increase of $1.66 billion, or 13.0%. Loan production in the banking division during the fourth quarter of 2020 was down 10% from the third quarter of 2020 and 28% from the fourth quarter of 2019. Loan growth for the year ended December 31, 2020 was driven by PPP loan originations, which totaled $827.6 million in outstanding balances at December 31, 2020, and increases in commercial real estate and warehouse lending.

At December 31, 2020, total deposits amounted to $16.96 billion, or 96.8% of total funding, compared with $14.03 billion and 90.1%, respectively, at December 31, 2019. At December 31, 2020, noninterest-bearing deposit accounts were $6.15 billion, or 36.3% of total deposits, compared with $4.20 billion, or 29.9% of total deposits, at December 31, 2019. Non-rate sensitive deposits (including noninterest-bearing, NOW and savings) totaled $10.23 billion at December 31, 2020, compared with $7.21 billion at December 31, 2019. These funds represented 60.3% of the Company's total deposits at December 31, 2020, compared with 51.4% at the end of 2019.

Shareholders' equity at December 31, 2020 totaled $2.65 billion, an increase of $177.5 million, or 7.2%, from December 31, 2019. The increase in shareholders' equity was primarily the result of earnings of $262.0 million during 2020, partially offset by the CECL adoption impact of $56.7 million and dividends declared. Tangible book value per share was $23.69 at December 31, 2020, compared with $20.81 at December 31, 2019. Tangible common equity as a percentage of tangible assets was 8.47% at December 31, 2020, compared with 8.40% at the end of the 2019.

Credit Quality

Credit quality remains strong in the Company. During the fourth quarter of 2020, the Company reversed provision for credit losses of $1.5 million, compared with a provision of $17.7 million in the third quarter of 2020. This decrease in provision was primarily attributable to improvements in forecast economic conditions, particularly levels of unemployment and GDP, compared with forecast conditions during the third quarter of 2020. The Company has been prudently working with borrowers to support their credit needs during the challenging economic conditions and monitoring the level of modifications on an ongoing basis, such that loans remaining on deferral at the end of the fourth quarter of 2020 equaled approximately 2.9% of total loans, down from approximately 19.0% of total loans at the end of the second quarter of 2020. Nonperforming assets as a percentage of total assets decreased by 34 basis points to 0.48% during the quarter. The decrease in nonperforming assets is primarily attributable to decreased nonaccrual loans in the residential real estate and commercial real estate loan categories. The net charge-off ratio was 70 basis points for the fourth quarter of 2020, compared with 10 basis points in the third quarter of 2020 and nine basis points in the fourth quarter of 2019. The increase in net charge-offs for the fourth quarter of 2020 was primarily attributable to approximately $17.2 million of charge-offs on certain hotel exposures sold during the quarter. The hotel loans sold were selected based on a number of factors, including the level of relationship with the borrower, tier of hotel brand underlying the property and market conditions in the area.

Conference Call

The Company will host a teleconference at 9:00 a.m. Eastern time on Friday, January 29, 2021, to discuss the Company's results and answer appropriate questions. The conference call can be accessed by dialing 1-877-504-1190 (or 1-855-669-9657 for participants in Canada and 1-412-902-6630 for other international participants). The conference ID name is Ameris Bancorp ABCB. A replay of the call will be available one hour after the end of the conference call until February 12, 2021. To listen to the replay, dial 1-877-344-7529 (or 1-855-669-9658 for participants in Canada and 1-412-317-0088 for other international participants). The conference replay access code is 10151038. The conference call replay and the financial information discussed will also be available on the Investor Relations page of the Ameris Bank website at ir.amerisbank.com.

About Ameris Bancorp

Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. The Company's banking subsidiary, Ameris Bank, had 164 locations in Georgia, Florida, South Carolina and Alabama at the end of the most recent quarter.

This news release 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," "estimate," "predict," "continue" and "potential" or the negative of these terms or other comparable terminology, as well as similar expressions, are meant to identify forward-looking statements. The forward-looking statements in this news release are based on current expectations and are provided to assist in the understanding of potential future performance. Such forward-looking statements involve numerous assumptions, risks and uncertainties that may cause actual results to differ materially from those expressed or implied in any such statements, including, without limitation, the following: general competitive, economic, unemployment, political and market conditions and fluctuations, including real estate market conditions, and the effects of such conditions and fluctuations on the creditworthiness of borrowers, collateral values, asset recovery values and the value of investment securities; movements in interest rates and their impacts on net interest margin; expectations on credit quality and performance; legislative and regulatory changes; changes in U.S. government monetary and fiscal policy, including any changes that result from the recent U.S. elections; the impact of the COVID-19 pandemic on the general economy, our customers and the allowance for loan losses; the benefits that may be realized by our customers from government assistance programs and regulatory actions related to the COVID-19 pandemic; the potential impact of the proposed phase-out of the London Interbank Offered Rate ("LIBOR") or other changes involving LIBOR; competitive pressures on product pricing and services; the cost savings and any revenue synergies expected to result from acquisition transactions, which may not be fully realized within the expected timeframes if at all; the success and timing of other business strategies; our outlook and long-term goals for future growth; and natural disasters, geopolitical events, acts of war or terrorism or other hostilities, public health crises and other catastrophic events beyond our control. For a discussion of some of the other risks and other factors that may cause such forward-looking statements to differ materially from actual results, please refer to the Company's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2019, as amended, and its subsequently filed periodic reports and other filings. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise forward-looking statements.

AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Financial Highlights	Table 1
	Three Months Ended															Year Ended
	Dec			Sep			Jun			Mar			Dec			Dec			Dec
(dollars in thousands except per share data)	2020			2020			2020			2020			2019			2020			2019
EARNINGS
Net income	$	94,285		$	116,145		$	32,236		$	19,322		$	61,248		$	261,988		$	161,441
Adjusted net income	$	101,995		$	116,879		$	42,423		$	39,205		$	66,608		$	300,501		$	222,944

COMMON SHARE DATA
Earnings per share available to common shareholders
Basic	$	1.36		$	1.68		$	0.47		$	0.28		$	0.88		$	3.78		$	2.76
Diluted	$	1.36		$	1.67		$	0.47		$	0.28		$	0.88		$	3.77		$	2.75
Adjusted diluted EPS	$	1.47		$	1.69		$	0.61		$	0.56		$	0.96		$	4.33		$	3.80
Cash dividends per share	$	0.15		$	0.15		$	0.15		$	0.15		$	0.15		$	0.60		$	0.50
Book value per share (period end)	$	38.07		$	36.91		$	35.42		$	35.10		$	35.53		$	38.07		$	35.53
Tangible book value per share (period end)	$	23.69		$	22.46		$	20.90		$	20.44		$	20.81		$	23.69		$	20.81
Weighted average number of shares
Basic	69,252,307			69,230,667			69,191,778			69,247,661			69,429,193			69,256,020			58,462,137
Diluted	69,493,105			69,346,141			69,292,972			69,502,022			69,683,999			69,426,185			58,614,151
Period end number of shares	69,541,481			69,490,546			69,462,782			69,441,274			69,503,833			69,541,481			69,503,833
Market data
High intraday price	$	39.53		$	27.81		$	29.82		$	43.79		$	44.90		$	43.79		$	44.90
Low intraday price	$	22.37		$	19.91		$	17.12		$	17.89		$	38.34		$	17.12		$	31.27
Period end closing price	$	38.07		$	22.78		$	23.59		$	23.76		$	42.54		$	38.07		$	42.54
Average daily volume	394,641			359,059			470,151			461,692			353,783			420,874			389,112

PERFORMANCE RATIOS
Return on average assets	1.89		%	2.33		%	0.67		%	0.43		%	1.35		%	1.36		%	1.10		%
Adjusted return on average assets	2.04		%	2.35		%	0.89		%	0.87		%	1.47		%	1.56		%	1.52		%
Return on average common equity	14.30		%	18.27		%	5.23		%	3.16		%	9.97		%	10.35		%	8.19		%
Adjusted return on average tangible common equity	25.04		%	30.53		%	11.66		%	10.98		%	18.45		%	19.77		%	18.74		%
Earning asset yield (TE)	3.98		%	4.02		%	4.32		%	4.56		%	4.82		%	4.21		%	4.88		%
Total cost of funds	0.36		%	0.41		%	0.52		%	0.91		%	1.00		%	0.54		%	1.05		%
Net interest margin (TE)	3.64		%	3.64		%	3.83		%	3.70		%	3.86		%	3.70		%	3.88		%
Noninterest income excluding securities transactions, as a percent of total revenue (TE)	38.37		%	46.72		%	39.35		%	22.83		%	22.02		%	37.90		%	23.60		%
Efficiency ratio	54.83		%	47.80		%	54.70		%	68.23		%	58.24		%	55.21		%	67.11		%
Adjusted efficiency ratio (TE)	52.67		%	47.34		%	51.08		%	59.87		%	55.61		%	52.17		%	55.67		%

CAPITAL ADEQUACY (period end)
Shareholders' equity to assets	12.95		%	12.90		%	12.38		%	13.37		%	13.54		%	12.95		%	13.54		%
Tangible common equity to tangible assets	8.47		%	8.27		%	7.70		%	8.25		%	8.40		%	8.47		%	8.40		%

EQUITY TO ASSETS RECONCILIATION
Tangible common equity to tangible assets	8.47		%	8.27		%	7.70		%	8.25		%	8.40		%	8.47		%	8.40		%
Effect of goodwill and other intangibles	4.48		%	4.63		%	4.68		%	5.12		%	5.14		%	4.48		%	5.14		%
Equity to assets (GAAP)	12.95		%	12.90		%	12.38		%	13.37		%	13.54		%	12.95		%	13.54		%

OTHER DATA (period end)
Full time equivalent employees
Banking Division	1,816			1,807			1,832			1,865			1,913			1,816			1,913
Retail Mortgage Division	748			734			692			689			690			748			690
Warehouse Lending Division	12			11			9			9			9			12			9
SBA Division	24			33			42			44			42			24			42
Premium Finance Division	71			71			70			72			68			71			68
Total Ameris Bancorp FTE headcount	2,671			2,656			2,645			2,679			2,722			2,671			2,722

Assets per Banking Division FTE	$	11,255		$	10,998		$	10,848		$	9,772		$	9,536		$	11,255		$	9,536
Branch locations	164			170			170			170			170			164			170
Deposits per branch location	$	103,401		$	94,493		$	91,705		$	81,439		$	82,512		$	103,401		$	82,512

AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Income Statement	Table 2
	Three Months Ended										Year Ended
	Dec		Sep		Jun		Mar		Dec		Dec		Dec
(dollars in thousands except per share data)	2020		2020		2020		2020		2019		2020		2019
Interest income
Interest and fees on loans	$	171,971	$	172,351	$	175,345	$	171,242	$	182,391	$	690,909	$	586,848
Interest on taxable securities	6,398		7,259		9,347		10,082		10,358		33,086		40,138
Interest on nontaxable securities	150		159		157		157		167		623		593
Interest on deposits in other banks	252		153		123		1,211		1,091		1,739		8,139
Interest on federal funds sold	12		12		46		76		69		146		676
Total interest income	178,783		179,934		185,018		182,768		194,076		726,503		636,394

Interest expense
Interest on deposits	8,870		11,822		14,273		24,102		27,970		59,067		102,533
Interest on other borrowings	6,457		5,574		6,931		10,721		10,755		29,683		28,695
Total interest expense	15,327		17,396		21,204		34,823		38,725		88,750		131,228

Net interest income	163,456		162,538		163,814		147,945		155,351		637,753		505,166

Provision for loan losses	(6,700)		26,692		68,449		37,047		5,693		125,488		19,758
Provision for unfunded commitments	5,481		(10,131)		19,712		4,000		—		19,062		—
Provision for other credit losses	(291)		1,121		—		—		—		830		—
Provision for credit losses	(1,510)		17,682		88,161		41,047		5,693		145,380		19,758
Net interest income after provision for credit losses	164,966		144,856		75,653		106,898		149,658		492,373		485,408

Noninterest income
Service charges on deposits accounts	11,465		10,914		9,922		11,844		13,567		44,145		50,792
Mortgage banking activity	95,192		138,627		104,925		35,333		33,168		374,077		119,409
Other service charges, commissions and fees	965		1,039		949		961		935		3,914		3,566
Gain (loss) on securities	—		—		14		(9)		(1)		5		138
Other noninterest income	4,521		8,438		5,150		6,250		7,444		24,359		24,208
Total noninterest income	112,143		159,018		120,960		54,379		55,113		446,500		198,113

Noninterest expense
Salaries and employee benefits	92,466		96,698		95,168		75,946		69,642		360,278		223,938
Occupancy and equipment expenses	12,709		13,805		13,807		12,028		11,919		52,349		40,596
Data processing and telecommunications expenses	11,323		12,226		10,514		11,954		11,362		46,017		38,513
Credit resolution related expenses⁽¹⁾	1,156		802		950		2,198		1,098		5,106		4,082
Advertising and marketing expenses	3,267		966		1,455		2,358		2,250		8,046		7,927
Amortization of intangible assets	4,190		4,190		5,601		5,631		5,741		19,612		17,713
Merger and conversion charges	—		(44)		895		540		2,415		1,391		73,105
Other noninterest expenses	26,005		25,049		27,378		27,398		18,137		105,830		66,063
Total noninterest expense	151,116		153,692		155,768		138,053		122,564		598,629		471,937

Income before income tax expense	125,993		150,182		40,845		23,224		82,207		340,244		211,584
Income tax expense	31,708		34,037		8,609		3,902		20,959		78,256		50,143
Net income	$	94,285	$	116,145	$	32,236	$	19,322	$	61,248	$	261,988	$	161,441

Diluted earnings per common share	$	1.36	$	1.67	$	0.47	$	0.28	$	0.88	$	3.77	$	2.75

(1) Includes expenses associated with problem loans and OREO, as well as OREO losses and writedowns.

AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Period End Balance Sheet	Table 3
	Three Months Ended
	Dec		Sep		Jun		Mar		Dec
(dollars in thousands)	2020		2020		2020		2020		2019
Assets
Cash and due from banks	$	203,349	$	257,026	$	292,899	$	255,312	$	246,234
Federal funds sold and interest-bearing deposits in banks	1,913,957		494,765		428,560		396,844		375,615
Time deposits in other banks	249		249		249		249		249
Investment securities available for sale, at fair value	982,879		1,117,436		1,238,896		1,353,040		1,403,403
Other investments	28,202		47,329		76,453		81,754		66,919
Loans held for sale, at fair value	1,167,659		1,414,889		1,736,397		1,398,229		1,656,711

Loans, net of unearned income	14,480,925		14,943,593		14,503,157		13,094,106		12,818,476
Allowance for credit losses	(199,422)		(231,924)		(208,793)		(149,524)		(38,189)
Loans, net	14,281,503		14,711,669		14,294,364		12,944,582		12,780,287

Other real estate owned	11,880		17,969		23,563		21,027		19,500
Premises and equipment, net	222,890		231,278		230,118		231,347		233,102
Goodwill	928,005		928,005		928,005		931,947		931,637
Other intangible assets, net	71,974		76,164		80,354		85,955		91,586
Cash value of bank owned life insurance	176,467		175,605		175,011		176,239		175,270
Deferred income taxes, net	33,314		53,039		56,306		24,196		2,180
Other assets	416,310		348,428		311,454		323,827		259,886
Total assets	$	20,438,638	$	19,873,851	$	19,872,629	$	18,224,548	$	18,242,579

Liabilities
Deposits
Noninterest-bearing	$	6,151,070	$	5,909,316	$	5,595,868	$	4,226,253	$	4,199,448
Interest-bearing	10,806,753		10,154,490		9,993,950		9,618,365		9,827,625
Total deposits	16,957,823		16,063,806		15,589,818		13,844,618		14,027,073
Federal funds purchased and securities sold under agreements to repurchase	11,641		9,103		12,879		15,160		20,635
Other borrowings	425,155		875,255		1,418,336		1,543,371		1,398,709
Subordinated deferrable interest debentures	124,345		123,860		123,375		122,890		127,560
FDIC loss-share payable, net	—		19,476		18,903		18,111		19,642
Other liabilities	272,586		217,668		249,188		243,248		179,378
Total liabilities	17,791,550		17,309,168		17,412,499		15,787,398		15,772,997

Shareholders' Equity
Preferred stock	—		—		—		—		—
Common stock	71,754		71,703		71,674		71,652		71,500
Capital stock	1,913,285		1,911,031		1,909,839		1,908,721		1,907,108
Retained earnings	671,510		587,657		481,948		460,153		507,950
Accumulated other comprehensive income, net of tax	33,505		37,252		39,613		39,551		17,995
Treasury stock	(42,966)		(42,960)		(42,944)		(42,927)		(34,971)
Total shareholders' equity	2,647,088		2,564,683		2,460,130		2,437,150		2,469,582
Total liabilities and shareholders' equity	$	20,438,638	$	19,873,851	$	19,872,629	$	18,224,548	$	18,242,579

Other Data
Earning assets	$	18,573,871	$	18,018,261	$	17,983,712	$	16,324,222	$	16,321,373
Intangible assets	999,979		1,004,169		1,008,359		1,017,902		1,023,223
Interest-bearing liabilities	11,367,894		11,162,708		11,548,540		11,299,786		11,374,529
Average assets	19,876,338		19,810,084		19,222,181		18,056,445		17,998,494
Average common shareholders' equity	2,622,942		2,529,471		2,478,373		2,456,617		2,437,272

AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Asset Quality Information	Table 4
	Three Months Ended															Year Ended
	Dec			Sep			Jun			Mar			Dec			Dec			Dec
(dollars in thousands)	2020			2020			2020			2020			2019			2020			2019
Allowance for Credit Losses
Balance at beginning of period	$	260,417		$	246,295		$	167,315		$	39,266		$	36,607		$	39,266		$	28,819

CECL adoption impact on allowance for loan losses	—			—			—			78,661			—			78,661			—
CECL adoption impact on allowance for unfunded commitments	—			—			—			12,714			—			12,714			—
Total CECL adoption impact	—			—			—			91,375			—			91,375			—

Acquired allowance for unfunded commitments	—			—			—			—			—			—			1,077

Provision for loan losses	(6,700)			26,692			68,449			37,047			5,693			125,488			19,758
Provision for unfunded commitments	5,481			(10,131)			19,712			4,000			—			19,062			—
Provision for other credit losses	(291)			1,121			—			—			—			830			—
Provision for credit losses	(1,510)			17,682			88,161			41,047			5,693			145,380			19,758

Charge-offs	29,094			7,370			11,282			6,718			5,664			54,464			19,861
Recoveries	3,292			3,810			2,101			2,345			2,630			11,548			9,473
Net charge-offs	25,802			3,560			9,181			4,373			3,034			42,916			10,388

Ending balance	$	233,105		$	260,417		$	246,295		$	167,315		$	39,266		$	233,105		$	39,266

Allowance for loan losses	$	199,422		$	231,924		$	208,793		$	149,524		$	38,189		$	199,422		$	38,189
Allowance for unfunded commitments	32,853			27,372			37,502			17,791			1,077			32,853			1,077
Allowance for other credit losses	830			1,121			—			—			—			830			—
T otal allowance for credit losses	$	233,105		$	260,417		$	246,295		$	167,315		$	39,266		$	233,105		$	39,266

Net Charge-off Information
Charge-offs
Commercial, financial and agricultural	$	5,960		$	1,715		$	486		$	2,486		$	1,813		$	10,647		$	3,460
Consumer installment	2,861			677			962			1,142			1,586			5,642			5,899
Indirect automobile	658			697			1,016			1,231			939			3,602			1,904
Premium Finance	2,240			1,158			1,904			831			899			6,133			4,351
Real estate - construction and development	—			9			74			—			146			83			414
Real estate - commercial and farmland	17,284			2,977			6,315			928			181			27,504			3,342
Real estate - residential	91			137			525			100			100			853			491
Total charge-offs	29,094			7,370			11,282			6,718			5,664			54,464			19,861

Recoveries
Commercial, financial and agricultural	754			470			303			362			934			1,889			1,838
Consumer installment	480			516			436			321			461			1,753			1,620
Indirect automobile	637			317			359			344			241			1,657			445
Premium Finance	605			1,224			676			684			358			3,189			2,754
Real estate - construction and development	125			182			168			342			430			817			1,745
Real estate - commercial and farmland	439			904			21			85			140			1,449			332
Real estate - residential	252			197			138			207			68			794			739
Total recoveries	3,292			3,810			2,101			2,345			2,632			11,548			9,473

Net charge-offs	$	25,802		$	3,560		$	9,181		$	4,373		$	3,032		$	42,916		$	10,388

Non-Performing Assets
Nonaccrual loans	$	76,457		$	138,163		$	77,745		$	77,866		$	75,124		$	76,457		$	75,124
Other real estate owned	11,880			17,969			23,563			21,027			19,500			11,880			19,500
Repossessed assets	544			258			1,348			783			939			544			939
Accruing loans delinquent 90 days or more	8,326			7,003			15,127			11,969			5,754			8,326			5,754
Total non-performing assets	$	97,207		$	163,393		$	117,783		$	111,645		$	101,317		$	97,207		$	101,317

Asset Quality Ratios
Non-performing assets as a percent of total assets	0.48		%	0.82		%	0.59		%	0.61		%	0.56		%	0.48		%	0.56		%
Net charge-offs as a percent of average loans (annualized)	0.70		%	0.10		%	0.27		%	0.14		%	0.09		%	0.31		%	0.10		%

AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Loan Information	Table 5
	Dec		Sep		Jun		Mar		Dec
(dollars in thousands)	2020		2020		2020		2020		2019
Loans by Type
Commercial, financial and agricultural	$	1,627,477	$	1,879,788	$	1,839,921	$	827,392	$	802,171
Consumer installment	306,995		450,810		575,782		520,592		498,577
Indirect automobile	580,083		682,396		739,543		937,736		1,061,824
Mortgage warehouse	916,353		995,942		748,853		547,328		526,369
Municipal	659,403		725,669		731,508		749,633		564,304
Premium Finance	687,841		710,890		690,584		661,845		654,669
Real estate - construction and development	1,606,710		1,628,255		1,641,744		1,628,367		1,549,062
Real estate - commercial and farmland	5,300,006		5,116,252		4,804,420		4,516,451		4,353,039
Real estate - residential	2,796,057		2,753,591		2,730,802		2,704,762		2,808,461
Total loans	$	14,480,925	$	14,943,593	$	14,503,157	$	13,094,106	$	12,818,476

Troubled Debt Restructurings
Accruing troubled debt restructurings
Commercial, financial and agricultural	$	521	$	459	$	591	$	575	$	516
Consumer installment	32		36		42		4		8
Indirect automobile	2,277		2,689		—		—		—
Mortgage warehouse	—		—		—		—		—
Municipal	—		—		—		—		—
Premium Finance	—		—		—		159		156
Real estate - construction and development	506		510		919		925		936
Real estate - commercial and farmland	36,707		56,417		5,252		5,587		6,732
Real estate - residential	38,800		28,777		30,253		22,775		21,261
Total accruing troubled debt restructurings	$	78,843	$	88,888	$	37,057	$	30,025	$	29,609
Nonaccrual troubled debt restructurings
Commercial, financial and agricultural	$	849	$	1,002	$	1,034	$	334	$	335
Consumer installment	56		64		67		105		107
Indirect automobile	461		482		—		—		—
Mortgage warehouse	—		—		—		—		—
Municipal	—		—		—		—		—
Premium Finance	—		—		—		—		—
Real estate - construction and development	707		709		307		289		253
Real estate - commercial and farmland	1,401		19,942		1,878		2,415		2,071
Real estate - residential	2,671		4,477		2,231		3,078		2,857
Total nonaccrual troubled debt restructurings	$	6,145	$	26,676	$	5,517	$	6,221	$	5,623
Total troubled debt restructurings	$	84,988	$	115,564	$	42,574	$	36,246	$	35,232

Loans by Risk Grade
Grade 1 - Prime credit	$	1,368,661	$	1,845,900	$	1,789,709	$	774,956	$	587,877
Grade 2 - Strong credit	869,581		838,267		801,273		785,770		840,372
Grade 3 - Good credit	6,624,154		6,189,269		5,784,754		5,772,834		6,034,398
Grade 4 - Satisfactory credit	4,794,672		4,989,617		5,643,133		4,353,733		4,884,541
Grade 5 - Fair credit	452,350		643,502		212,667		1,131,128		233,020
Grade 6 - Other assets especially mentioned	108,541		151,501		108,704		106,885		86,412
Grade 7 - Substandard	262,947		285,537		162,917		168,561		151,846
Grade 8 - Doubtful	19		—		—		239		8
Grade 9 - Loss	—		—		—		—		2
Total loans	$	14,480,925	$	14,943,593	$	14,503,157	$	13,094,106	$	12,818,476

AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Average Balances	Table 6
	Three Months Ended										Year Ended
	Dec		Sep		Jun		Mar		Dec		Dec		Dec
(dollars in thousands)	2020		2020		2020		2020		2019		2020		2019
Earning Assets
Federal funds sold	$	20,000	$	20,004	$	24,265	$	27,380	$	23,104	$	22,896	$	31,104
Interest-bearing deposits in banks	879,481		467,188		398,284		419,260		304,427		541,776		358,924
Time deposits in other banks	249		249		249		249		401		249		3,705
Investment securities - taxable	1,024,335		1,160,585		1,281,980		1,359,651		1,426,062		1,206,014		1,341,330
Investment securities - nontaxable	20,112		21,619		21,576		22,839		23,580		21,533		21,695
Other investments	31,552		64,656		79,143		73,972		64,852		62,253		37,415
Loans held for sale	1,281,762		1,507,481		1,614,080		1,587,131		1,537,648		1,497,051		667,078
Loans	14,752,664		14,688,317		13,915,406		12,712,997		12,697,912		14,018,582		10,666,978
Total Earning Assets	$	18,010,155	$	17,930,099	$	17,334,983	$	16,203,479	$	16,077,986	$	17,370,354	$	13,128,229

Deposits
Noninterest-bearing deposits	$	5,970,672	$	5,782,163	$	5,061,578	$	4,080,920	$	4,124,872	$	5,227,399	$	3,364,785
NOW accounts	2,968,596		2,718,315		2,441,305		2,287,947		2,204,666		2,605,349		1,831,024
MMDA	4,534,243		4,273,899		4,221,906		4,004,644		3,953,717		4,259,467		3,280,233
Savings accounts	793,414		749,314		692,382		643,422		649,118		719,916		529,866
Retail CDs	2,109,600		2,274,150		2,471,134		2,624,209		2,721,829		2,368,802		2,348,689
Brokered CDs	1,140		1,933		2,043		61,190		249,644		16,494		347,844
Total Deposits	16,377,665		15,799,774		14,890,348		13,702,332		13,903,846		15,197,427		11,702,441
Non-Deposit Funding
Federal funds purchased and securities sold under agreements to repurchase	9,929		10,483		12,452		15,637		17,088		12,115		14,043
FHLB advances	127,797		799,034		1,212,537		1,267,303		1,080,516		849,546		483,735
Other borrowings	376,295		272,443		269,300		269,454		234,001		297,023		186,798
Subordinated deferrable interest debentures	124,091		123,604		123,120		127,731		127,292		124,632		110,129
Total Non-Deposit Funding	638,112		1,205,564		1,617,409		1,680,125		1,458,897		1,283,316		794,705
Total Funding	$	17,015,777	$	17,005,338	$	16,507,757	$	15,382,457	$	15,362,743	$	16,480,743	$	12,497,146

AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Interest Income and Interest Expense (TE)	Table 7
	Three Months Ended										Year Ended
	Dec		Sep		Jun		Mar		Dec		Dec		Dec
(dollars in thousands)	2020		2020		2020		2020		2019		2020		2019
Interest Income
Federal funds sold	$	13	$	13	$	45	$	76	$	69	$	147	$	676
Interest-bearing deposits in banks	251		152		122		1,210		1,089		1,735		8,068
Time deposits in other banks	1		1		1		1		2		4		71
Investment securities - taxable	6,398		7,260		9,346		10,082		10,358		33,086		40,138
Investment securities - nontaxable (TE)	190		202		198		199		212		789		751
Loans held for sale	9,705		10,365		14,053		13,637		14,330		47,760		25,003
Loans (TE)	163,532		163,352		162,617		158,636		169,119		648,137		566,037
Total Earning Assets	$	180,090	$	181,345	$	186,382	$	183,841	$	195,179	$	731,658	$	640,744

Accretion income (included above)	$	4,688	$	6,525	$	9,576	$	6,562	$	9,727	$	27,351	$	19,935

Interest Expense
Interest-Bearing Deposits
NOW accounts	$	1,091	$	1,394	$	1,265	$	2,774	$	2,728	$	6,524	$	9,940
MMDA	2,326		2,823		3,764		9,748		11,311		18,661		42,439
Savings accounts	143		112		94		210		233		559		669
Retail CDs	5,301		7,484		9,136		11,064		12,220		32,985		41,040
Brokered CDs	9		9		14		306		1,478		338		8,445
Total Interest-Bearing Deposits	8,870		11,822		14,273		24,102		27,970		59,067		102,533
Non-Deposit Funding
Federal funds purchased and securities sold under agreements to repurchase	8		9		25		40		41		82		86
FHLB advances	245		661		1,686		5,109		5,241		7,701		10,044
Other borrowings	4,635		3,558		3,487		3,511		3,358		15,191		11,127
Subordinated deferrable interest debentures	1,569		1,346		1,733		2,061		2,115		6,709		7,438
Total Non-Deposit Funding	6,457		5,574		6,931		10,721		10,755		29,683		28,695
Total Interest-Bearing Funding	$	15,327	$	17,396	$	21,204	$	34,823	$	38,725	$	88,750	$	131,228

Net Interest Income (TE)	$	164,763	$	163,949	$	165,178	$	149,018	$	156,454	$	642,908	$	509,516

AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Yields⁽¹⁾	Table 8
	Three Months Ended										Year Ended
	Dec		Sep		Jun		Mar		Dec		Dec		Dec
	2020		2020		2020		2020		2019		2020		2019
Earning Assets
Federal funds sold	0.26	%	0.26	%	0.75	%	1.12	%	1.18	%	0.64	%	2.17	%
Interest-bearing deposits in banks	0.11	%	0.13	%	0.12	%	1.16	%	1.42	%	0.32	%	2.25	%
Time deposits in other banks	1.60	%	1.60	%	1.62	%	1.62	%	1.98	%	1.61	%	1.92	%
Investment securities - taxable	2.48	%	2.49	%	2.93	%	2.98	%	2.88	%	2.74	%	2.99	%
Investment securities - nontaxable (TE)	3.76	%	3.72	%	3.69	%	3.50	%	3.57	%	3.66	%	3.46	%
Loans held for sale	3.01	%	2.74	%	3.50	%	3.46	%	3.70	%	3.19	%	3.75	%
Loans (TE)	4.41	%	4.42	%	4.70	%	5.02	%	5.28	%	4.62	%	5.31	%
Total Earning Assets	3.98	%	4.02	%	4.32	%	4.56	%	4.82	%	4.21	%	4.88	%

Interest-Bearing Deposits
NOW accounts	0.15	%	0.20	%	0.21	%	0.49	%	0.49	%	0.25	%	0.54	%
MMDA	0.20	%	0.26	%	0.36	%	0.98	%	1.14	%	0.44	%	1.29	%
Savings accounts	0.07	%	0.06	%	0.05	%	0.13	%	0.14	%	0.08	%	0.13	%
Retail CDs	1.00	%	1.31	%	1.49	%	1.70	%	1.78	%	1.39	%	1.75	%
Brokered CDs	3.14	%	1.85	%	2.76	%	2.01	%	2.35	%	2.05	%	2.43	%
Total Interest-Bearing Deposits	0.34	%	0.47	%	0.58	%	1.01	%	1.13	%	0.59	%	1.23	%
Non-Deposit Funding
Federal funds purchased and securities sold under agreements to repurchase	0.32	%	0.34	%	0.81	%	1.03	%	0.95	%	0.68	%	0.61	%
FHLB advances	0.76	%	0.33	%	0.56	%	1.62	%	1.92	%	0.91	%	2.08	%
Other borrowings	4.90	%	5.20	%	5.21	%	5.24	%	5.69	%	5.11	%	5.96	%
Subordinated deferrable interest debentures	5.03	%	4.33	%	5.66	%	6.49	%	6.59	%	5.38	%	6.75	%
Total Non-Deposit Funding	4.03	%	1.84	%	1.72	%	2.57	%	2.92	%	2.31	%	3.61	%
Total Interest-Bearing Liabilities	0.55	%	0.62	%	0.75	%	1.24	%	1.37	%	0.79	%	1.44	%

Net Interest Spread	3.43	%	3.40	%	3.57	%	3.32	%	3.45	%	3.42	%	3.44	%

Net Interest Margin⁽²⁾	3.64	%	3.64	%	3.83	%	3.70	%	3.86	%	3.70	%	3.88	%

Total Cost of Funds⁽³⁾	0.36	%	0.41	%	0.52	%	0.91	%	1.00	%	0.54	%	1.05	%
(1) Interest and average rates are calculated on a tax-equivalent basis using an effective tax rate of 21%.
(2) Rate calculated based on average earning assets.
(3) Rate calculated based on total average funding including noninterest-bearing deposits.

AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Non-GAAP Reconciliations

Adjusted Net Income	Table 9A
	Three Months Ended															Year Ended
	Dec			Sep			Jun			Mar			Dec			Dec			Dec
(dollars in thousands except per share data)	2020			2020			2020			2020			2019			2020			2019
Net income available to common shareholders	$	94,285		$	116,145		$	32,236		$	19,322		$	61,248		$	261,988		$	161,441

Adjustment items:
Merger and conversion charges	—			(44)			895			540			2,415			1,391			73,105
Restructuring charges	—			50			1,463			—			—			1,513			245
Servicing right impairment	9,501			412			7,989			22,165			366			40,067			507
(Gain) loss on BOLI proceeds	—			(103)			(845)			—			752			(948)			(3,583)
Expenses related to SEC/DOJ Investigation	53			268			1,294			1,443			463			3,058			463
Natural disaster and pandemic charges (Note 1)	235			470			2,043			548			—			3,296			(39)
(Gain) loss on sale of premises	(30)			(97)			281			470			1,413			624			6,021
Tax effect of adjustment items (Note 2)	(2,049)			(222)			(2,933)			(5,283)			(898)			(10,488)			(16,065)
After tax adjustment items	7,710			734			10,187			19,883			4,511			38,513			60,654

Tax expense attributable to acquisition related compensation and acquired BOLI	—			—			—			—			849			—			849

Adjusted net income	$	101,995		$	116,879		$	42,423		$	39,205		$	66,608		$	300,501		$	222,944

Weighted average number of shares - diluted	69,493,105			69,346,141			69,292,972			69,502,022			69,683,999			69,426,185			58,614,151
Net income per diluted share	$	1.36		$	1.67		$	0.47		$	0.28		$	0.88		$	3.77		$	2.75
Adjusted net income per diluted share	$	1.47		$	1.69		$	0.61		$	0.56		$	0.96		$	4.33		$	3.80

Average assets	$	19,876,338		$	19,810,084		$	19,222,181		$	18,056,445		$	17,998,494		$	19,240,493		$	14,621,185
Return on average assets	1.89		%	2.33		%	0.67		%	0.43		%	1.35		%	1.36		%	1.10		%
Adjusted return on average assets	2.04		%	2.35		%	0.89		%	0.87		%	1.47		%	1.56		%	1.52		%

Average common equity	$	2,622,942		$	2,529,471		$	2,478,373		$	2,456,617		$	2,437,272		$	2,531,419		$	1,970,780
Average tangible common equity	$	1,620,742		$	1,523,066		$	1,462,871		$	1,436,108		$	1,432,081		$	1,520,303		$	1,189,493
Return on average common equity	14.30		%	18.27		%	5.23		%	3.16		%	9.97		%	10.35		%	8.19		%
Adjusted return on average tangible common equity	25.04		%	30.53		%	11.66		%	10.98		%	18.45		%	19.77		%	18.74		%

Note 1: Pandemic charges include "thank you" pay for certain employees, additional sanitizing expenses at our locations, protective equipment for our employees and branch locations, and additional equipment required to support our remote workforce.
Note 2: A portion of the merger and conversion charges for 1Q20, 4Q19 and both year-to-date periods are nondeductible for tax purposes.

AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Non-GAAP Reconciliations (continued)

Adjusted Efficiency Ratio (TE)	Table 9B
	Three Months Ended															Year Ended
	Dec			Sep			Jun			Mar			Dec			Dec			Dec
(dollars in thousands)	2020			2020			2020			2020			2019			2020			2019
Adjusted Noninterest Expense
Total noninterest expense	$	151,116		$	153,692		$	155,768		$	138,053		$	122,564		$	598,629		$	471,937
Adjustment items:
Merger and conversion charges	—			44			(895)			(540)			(2,415)			(1,391)			(73,105)
Restructuring charges	—			(50)			(1,463)			—			—			(1,513)			(245)
Expenses related to SEC/DOJ Investigation	(53)			(268)			(1,294)			(1,443)			(463)			(3,058)			(463)
Natural disaster and pandemic charges	(235)			(470)			(2,043)			(548)			—			(3,296)			39
Gain (loss) on sale of premises	30			97			(281)			(470)			(1,413)			(624)			(6,021)
Adjusted noninterest expense	$	150,858		$	153,045		$	149,792		$	135,052		$	118,273		$	588,747		$	392,142

Total Revenue
Net interest income	$	163,456		162,538			$	163,814		$	147,945		$	155,351		$	637,753		$	505,166
Noninterest income	112,143			159,018			120,960			54,379			55,113			446,500			198,113
Total revenue	$	275,599		$	321,556		$	284,774		$	202,324		$	210,464		$	1,084,253		$	703,279

Adjusted Total Revenue
Net interest income (TE)	$	164,763		$	163,949		$	165,178		$	149,018		$	156,454		$	642,908		$	509,516
Noninterest income	112,143			$	159,018		120,960			54,379			55,113			446,500			198,113
Total revenue (TE)	276,906			$	322,967		286,138			203,397			211,567			1,089,408			707,629
Adjustment items:
(Gain) loss on securities	—			—			(14)			9			(1)			(5)			(138)
(Gain) loss on BOLI proceeds	—			(103)			(845)			—			752			(948)			(3,583)
Servicing right impairment	9,501			412			7,989			22,165			366			40,067			507
Adjusted total revenue (TE)	$	286,407		$	323,276		$	293,268		$	225,571		$	212,684		$	1,128,522		$	704,415

Efficiency ratio	54.83		%	47.80		%	54.70		%	68.23		%	58.24		%	55.21		%	67.11		%
Adjusted efficiency ratio (TE)	52.67		%	47.34		%	51.08		%	59.87		%	55.61		%	52.17		%	55.67		%

Tangible Book Value Per Share	Table 9C
	Three Months Ended															Year Ended
	Dec			Sep			Jun			Mar			Dec			Dec			Dec
(dollars in thousands except per share data)	2020			2020			2020			2020			2019			2020			2019
Total shareholders' equity	$	2,647,088		$	2,564,683		$	2,460,130		$	2,437,150		$	2,469,582		$	2,647,088		$	2,469,582
Less:
Goodwill	928,005			$	928,005		928,005			931,947			931,637			928,005			931,637
Other intangibles, net	71,974			$	76,164		80,354			85,955			91,586			71,974			91,586
Total tangible shareholders' equity	$	1,647,109		$	1,560,514		$	1,451,771		$	1,419,248		$	1,446,359		$	1,647,109		$	1,446,359

Period end number of shares	69,541,481			69,490,546			69,461,968			69,441,274			69,503,833			69,541,481			69,503,833
Book value per share (period end)	$	38.07		$	36.91		$	35.42		$	35.10		$	35.53		$	38.07		$	35.53
Tangible book value per share (period end)	$	23.69		$	22.46		$	20.90		$	20.44		$	20.81		$	23.69		$	20.81

AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Segment Reporting	Table 10
	Three Months Ended										Year Ended
	Dec		Sep		Jun		Mar		Dec		Dec		Dec
(dollars in thousands)	2020		2020		2020		2020		2019		2020		2019
Banking Division
Net interest income	$	112,964	$	119,562	$	120,330	$	118,375	$	124,957	$	471,231	$	419,013
Provision for credit losses	1,847		487		86,805		35,997		4,741		125,136		12,654
Noninterest income	15,659		15,265		14,468		17,773		18,632		63,165		69,005
Noninterest expense
Salaries and employee benefits	38,668		39,718		40,423		41,621		38,180		160,430		130,134
Occupancy and equipment expenses	10,958		11,955		11,679		10,347		10,216		44,939		35,281
Data processing and telecommunications expenses	9,608		9,716		8,919		10,797		10,156		39,040		34,934
Other noninterest expenses	25,806		21,517		27,997		30,645		23,176		105,965		149,919
Total noninterest expense	85,040		82,906		89,018		93,410		81,728		350,374		350,268
Income (loss) before income tax expense	41,736		51,434		(41,025)		6,741		57,120		58,886		125,096
Income tax expense (benefit)	13,992		13,453		(8,582)		275		15,412		19,138		31,609
Net income (loss)	$	27,744	$	37,981	$	(32,443)	$	6,466	$	41,708	$	39,748	$	93,487

Retail Mortgage Division
Net interest income	$	19,908	$	20,393	$	24,302	$	17,756	$	18,223	$	82,359	$	44,552
Provision for credit losses	(1,621)		15,051		423		1,997		1,237		15,850		3,472
Noninterest income	94,109		137,583		104,195		34,369		33,335		370,256		118,188
Noninterest expense
Salaries and employee benefits	50,165		53,500		50,003		31,097		28,233		184,765		82,470
Occupancy and equipment expenses	1,577		1,676		1,953		1,504		1,544		6,710		4,666
Data processing and telecommunications expenses	1,534		2,349		1,406		986		1,034		6,275		2,418
Other noninterest expenses	7,442		7,889		6,949		5,875		4,553		28,155		12,536
Total noninterest expense	60,718		65,414		60,311		39,462		35,364		225,905		102,090
Income before income tax expense	54,920		77,511		67,763		10,666		14,957		210,860		57,178
Income tax expense	11,535		16,112		14,231		2,408		3,371		44,286		12,202
Net income	$	43,385	$	61,399	$	53,532	$	8,258	$	11,586	$	166,574	$	44,976

Warehouse Lending Division
Net interest income	$	9,017	$	6,546	$	5,026	$	3,302	$	3,771	$	23,891	$	12,617
Provision for credit losses	1,673		495		403		(9)		67		2,562		67
Noninterest income	1,113		1,064		727		960		610		3,864		1,999
Noninterest expense
Salaries and employee benefits	296		266		209		210		325		981		934
Occupancy and equipment expenses	1		1		1		1		1		4		5
Data processing and telecommunications expenses	101		73		55		41		47		270		156
Other noninterest expenses	26		28		88		34		53		176		223
Total noninterest expense	424		368		353		286		426		1,431		1,318
Income before income tax expense	8,033		6,747		4,997		3,985		3,888		23,762		13,231
Income tax expense	1,687		1,431		1,049		837		816		5,004		2,778
Net income	$	6,346	$	5,316	$	3,948	$	3,148	$	3,072	$	18,758	$	10,453

AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Segment Reporting (continued)	Table 10
	Three Months Ended										Year Ended
	Dec		Sep		Jun		Mar		Dec		Dec		Dec
(dollars in thousands)	2020		2020		2020		2020		2019		2020		2019
SBA Division
Net interest income	$	14,909	$	8,966	$	7,034	$	2,181	$	2,190	$	33,090	$	7,031
Provision for credit losses	(2,997)		4,297		2,322		(903)		150		2,719		544
Noninterest income	1,247		5,106		1,570		1,277		2,536		9,200		8,915
Noninterest expense
Salaries and employee benefits	1,233		1,572		2,612		1,476		1,336		6,893		4,783
Occupancy and equipment expenses	100		97		97		97		79		391		269
Data processing and telecommunications expenses	1		4		15		13		5		33		32
Other noninterest expenses	363		595		359		515		402		1,832		1,651
Total noninterest expense	1,697		2,268		3,083		2,101		1,822		9,149		6,735
Income before income tax expense	17,456		7,507		3,199		2,260		2,754		30,422		8,667
Income tax expense	3,666		1,577		671		475		578		6,389		1,820
Net income	$	13,790	$	5,930	$	2,528	$	1,785	$	2,176	$	24,033	$	6,847

Premium Finance Division
Net interest income	$	6,658	$	7,071	$	7,122	$	6,331	$	6,210	$	27,182	$	21,953
Provision for credit losses	(412)		(2,648)		(1,792)		3,965		(502)		(887)		3,021
Noninterest income	15		—		—		—		—		15		6
Noninterest expense
Salaries and employee benefits	2,104		1,642		1,921		1,542		1,568		7,209		5,617
Occupancy and equipment expenses	73		76		77		79		79		305		375
Data processing and telecommunications expenses	79		84		119		117		120		399		973
Other noninterest expenses	981		934		886		1,056		1,457		3,857		4,561
Total noninterest expense	3,237		2,736		3,003		2,794		3,224		11,770		11,526
Income (loss) before income tax expense	3,848		6,983		5,911		(428)		3,488		16,314		7,412
Income tax expense (benefit)	828		1,464		1,240		(93)		782		3,439		1,734
Net income (loss)	$	3,020	$	5,519	$	4,671	$	(335)	$	2,706	$	12,875	$	5,678

Total Consolidated
Net interest income	$	163,456	$	162,538	$	163,814	$	147,945	$	155,351	$	637,753	$	505,166
Provision for credit losses	(1,510)		17,682		88,161		41,047		5,693		145,380		19,758
Noninterest income	112,143		159,018		120,960		54,379		55,113		446,500		198,113
Noninterest expense
Salaries and employee benefits	92,466		96,698		95,168		75,946		69,642		360,278		223,938
Occupancy and equipment expenses	12,709		13,805		13,807		12,028		11,919		52,349		40,596
Data processing and telecommunications expenses	11,323		12,226		10,514		11,954		11,362		46,017		38,513
Other noninterest expenses	34,618		30,963		36,279		38,125		29,641		139,985		168,890
Total noninterest expense	151,116		153,692		155,768		138,053		122,564		598,629		471,937
Income before income tax expense	125,993		150,182		40,845		23,224		82,207		340,244		211,584
Income tax expense	31,708		34,037		8,609		3,902		20,959		78,256		50,143
Net income	$	94,285	$	116,145	$	32,236	$	19,322	$	61,248	$	261,988	$	161,441

CONTACT: Nicole S. Stokes, Chief Financial Officer, (404) 240-1514

4th Quarter 2020 Results Investor Presentation Exhibit 99.2

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,” “estimate,” “predict,” “continue” and “potential” or the negative of these terms or other comparable terminology, as well as similar expressions, are meant to identify forward-looking statements. The forward-looking statements in this presentation are based on current expectations and are provided to assist in the understanding of potential future performance. Such forward-looking statements involve numerous assumptions, risks and uncertainties that may cause actual results to differ materially from those expressed or implied in any such statements, including, without limitation, the following: general competitive, economic, unemployment, political and market conditions and fluctuations, including real estate market conditions, and the effects of such conditions and fluctuations on the creditworthiness of borrowers, collateral values, asset recovery values and the value of investment securities; movements in interest rates and their impacts on net interest margin; expectations on credit quality and performance; legislative and regulatory changes; changes in U.S. government monetary and fiscal policy, including any changes that result from recent U.S. elections; the impact of the COVID-19 pandemic on the general economy, our customers and the allowance for loan losses; the benefits that may be realized by our customers from government assistance programs and regulatory actions related to the COVID-19 pandemic; the potential impact of the proposed phase-out of the London Interbank Offered Rate (“LIBOR”) or other changes involving LIBOR; competitive pressures on product pricing and services; the cost savings and any revenue synergies expected to result from acquisition transactions, which may not be fully realized within the expected timeframes if at all; the success and timing of other business strategies; our outlook and long-term goals for future growth; and natural disasters, geopolitical events, acts of war or terrorism or other hostilities, public health crises and other catastrophic events beyond our control. For a discussion of some of the other risks and other factors that may cause such forward-looking statements to differ materially from actual results, please refer to the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, as amended, and its subsequently filed periodic reports and other filings. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise forward-looking statements.

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) Disciplined rate cuts on funding side while growing core deposits Focus on expense control and improved operating efficiency Culture of discipline Geographic Diversification Balance Sheet Diversification: CRE concentrations are moderate Diversified loan portfolio across geography and product lines

4th Quarter 2020 Financial Results

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 Return on Assets 2.04% 1.47% 39% 1.56% 1.52% 2% Adjusted Return on TCE 25.04% 18.45% 36% 19.77% 18.74% 5% Net Interest Margin 3.64% 3.86% -6% 3.70% 3.88% -5% Adjusted Efficiency Ratio 52.67% 55.61% -5% 52.17% 55.67% -6% Adjusted Net Overhead Ratio 0.77% 1.39% -44% 0.74% 1.33% -44%

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%, compared with 30.53% in 3Q20 Net interest margin of 3.64%, flat compared with 3Q20 TBV increased $1.23 per share to $23.69 per share, compared with $22.46 at the end of 3Q20 Non-performing assets decreased 34 basis points to 0.48% of total assets, compared with 0.82% at September 30, 2020

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 Adjusted efficiency ratio of 52.17%, compared with 55.67% for 2019 Adjusted ROA of 1.56%, compared with 1.52% for 2019 Adjusted ROTCE of 19.77%, compared with 18.74% for 2019 Net interest margin of 3.70%, compared with 3.88% for 2019 Total loan growth of $1.7 billion including PPP loans; Organic loan growth of 6.5% annualized, excluding PPP loans Improvement in deposit mix such that noninterest bearing deposits represent 36.27% of total deposits, up from 29.94% at 4Q19

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% -3.03% 12.97% 9.16% Organic Loan Growth Ex. PPP (225,091) (95,095) 834,848 751,811 Organic Loan Growth Rate Ex. PPP -6.70% -3.03% 6.51% 9.16% Total Revenue 275,599 210,464 1,084,253 703,279 Total Revenue Growth -57.17% -27.10% 54.17% 52.29% Adjusted Operating Expenses (2) 150,858 118,273 588,747 392,142 Adjusted OPEX Growth -5.72% -26.46% 50.14% 49.77% Adjusted Efficiency (3) 52.67% 55.61% 52.17% 55.67% Asset growth is materially impacted in 2019 by the acquisition of Fidelity Bank Adjusted Operating Expenses exclude merger and conversion charges, restructuring charges related to branch consolidation plan and efficiency initiatives, natural disaster and pandemic charges, expenses related to SEC and DOJ investigation and (gain) loss on sale of premises. Adjusted Efficiency ratio is Adjusted Operating Expenses divided by Net Interest Income (TE) plus Non-Interest Income, excluding gain/loss on securities, gain on BOLI proceeds and servicing right impairment/recovery Growth rates are annualized for the applicable periods

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 repricing on deposits lowered cost of interest-bearing deposits 13 bps during the quarter Noninterest Income Mortgage banking Revenue increased $59.9 million, or 180.5%, in 4Q20 compared with 4Q19 Production increased $1.24 billion, or 79.4%, over the same period. SBA revenues – noninterest income decreased 50.8%, compared with 4Q19 due to decreased volume of loans sold.

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 spread income increased $814,000 Margin flat from 3Q20 and down 22bps from 4Q19 Decrease in accretion income due to decline in payoff accretion compared with both 3Q20 and 4Q19 PPP income of $13.8 million, including $6.3 million related to acceleration of fee income on PPP forgiveness Deposit costs decreased by 8bps Growth in noninterest bearing deposits during the fourth quarter such that noninterest bearing deposits are over 36% of total deposits at quarter end Accretion income as a part of our revenues: 2.5% of revenue in 2020 2.8% of revenue in 2019 2.6% of revenue in 2018 2.9% of revenue in 2017

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 related to termination of remaining loss share agreements with the FDIC $532,000 in OREO write-downs Decrease in lines of business operating expenses is due to decreased variable costs (primarily incentives) driven by decreased production and revenue levels $4.7 million decrease in retail mortgage $571,000 decrease in SBA Continue to drive expense control behaviors throughout the Company to fund future technology and innovation costs 1 – Adjusted Operating Expenses exclude merger and conversion charges, restructuring charges related to branch consolidation plan and efficiency initiatives, natural disaster and pandemic charges, expenses related to SEC and DOJ investigation and (gain) loss on sale of premises.

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 CECL in 1Q20 TCE / TA at quarter end of 8.47%, up from 8.27% at the end of 3Q20 primarily due to retained earnings PPP loans impacted TCE/TA by 38bps at quarter end 4Q20 Adjusted ROTCE of 25.04%

Loan Diversification and Credit Quality

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 is $73.2 thousand across all loan types CRE and C&D concentrations are 253% and 78%, respectively, at YE20 Linked-quarter EOP loan growth was ($462.7) million, primarily the result of a net reduction in PPP loans of $251.4 million and the designation of a consumer loan portfolio as HFS totaling $119.0 million Annualized loan growth for 2020 was 13.0%. Net of PPP loans, growth was 6.5% for 2020.

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 million committed exposure that is fully secured by cash in Ameris Bank Total participations purchased are less than 1% of outstanding balances Updated as of: 44196 BASED ON SUPER TRIAL RELATIONSHIPS Relationship Summary Relationship Groupings Total Committed Exposure (MM's) % of Total Legacy (FIS) Portfolio Top 25 Relationships $1,629.5 9.3% Total Super Trial Loans - TCE Top 50 Relationships $2,594 0.14733362489563395 $17,606.3 Top 100 Relationships $4,019.9 0.22832168030761718 Top 250 Relationships $6,315.9 0.35872954567399168 Top 300 Relationships $6,776.8 0.38490767509357449 Individual Groupings Total Committed Exposure (MM's) Largest Relationship $100 10th Largest $67.5 50th Largest $34 100th Largest $24.6 200th Largest $12.7 300th Largest $8.1999999999999993 # of Relationships Relationship Size (MM's) 1 $100 50 $34 100 $24.6 150 $16.3 200 $12.7 250 $10.199999999999999 300 $8.1999999999999993

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 had provided payment relief to > 11,000 customers totaling $2.4 billion across all loan products, which equated to 18% of Total Loans, excluding PPP loans Customers who reverted to pre-COVID payments totaled $2.1 billion, or 84% of total deferrals Customers that remain on deferral totaled $391.4 million, which equated to 2.9% of Total Loans SBA’s Paycheck Protection Program – at YE20, 7,620 customers & balances totaling $848.2 million Of the total PPP loans, 6,417 loans (84% of total) for $254.1 million were < $150,000, which is currently the SBA’s threshold for the streamlined PPP forgiveness process Updated as of: 44196 Break at $350M SBA Fee Category Count Dollars Approved (MM's) Avg Size (MM's) Loan Size Category Count Dollars Approved (MM's) Avg Size (MM's) NAICS Code Total (MM's) % of Total NAICS Description 0.01 35 $120.8 $3.4514285714285715 < $50M 4,463 $84 $1.8821420569123906E-2 722511 $43.8 5.2% Full-Service Restaurants 0.03 422 $305.3 $0.72345971563981049 $50M - $150M 1,954 $170.5 $8.7256908904810651E-2 621111 $34.1 4.3% Offices of Physicians (except Mental Health Specialists) 0.05 7,173 $422.1 $5.8845671267252202E-2 $150M - $500M 915 $235.1 $0.25693989071038253 541110 $32.799999999999997 3.9% Offices of Lawyers Totals 7,630 $848.2 $0.11116644823066842 $500M - $2MM 263 $237.8 $0.90418250950570345 238220 $29.7 3.5% Plumbing, Heating, and Air-Conditioning Contractors > $2MM 35 $120.8 $3.4514285714285715 721110 $25.4 3.3% Hotels (except Casino Hotels) and Motels Totals 7,630 $848.2 $0.11116644823066842 722513 $19.5 2.3% Limited-Service Restaurants 44104 813110 $17.100000000000001 2.2% Religious Organizations Dollars 236115 $16.7 1.9744620477654292 New Single-Family Housing Construction (except For-Sale Builders) Number of Approved 611110 $14.6 1.7% Elementary and Secondary Schools Loans (MM's) 622110 $14.3 1.7% General Medical and Surgical Hospitals 8140 $526.29999999999995 Total Top 10 $248 0.29321352565618353 607 $447.9 36 $123 Total PPP $845.8 8783 $1,097.1999999999998 Change Dollars Number of Approved Loans (MM's) -967 $-,104.19999999999993 -185 $-,142.59999999999997 -1 $-2.2000000000000028 -1153 $-,248.99999999999977

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 the result of an improving forecast model Certain Q-Factor overlays accounted for an increase in the ALLL of $30.9 million The YE20 ALLL equated to 1.38% of Gross Loans and 1.46%, net of PPP Loans 4Q20 CECL Reserve Updated as of: 44196 ALLL Summary Reserve Change due to Loan Growth ALLL at 9/30/2020 Loan Growth Net Charge-Offs Specific Reserves Q-Factor Changes Model Changes ALLL at 12/31/2020 9/30/2020 Portfolio x PPP % LLR 12/31/2020 Portfolio x PPP % LLR Change Reserve impact 4Q20 Allowance Coverage Outstanding Balance (MM's) ALLL (MM's) % ALLL 4Q20 Allowance Coverage Outstanding Balance (MM's) ALLL (MM's) % ALLL Agriculture $2.2000000000000002 $-0.37145405887600347 $0 $0.4 $0.7 $-0.52854594112399655 $2.4 $258.89999999999998 8.4974893781382781E-3 $224.2 1.0704727921498663E-2 $-34.699999999999989 $-0.37145405887600347 Total Loans $14,480.9 $199.4 1.3769862370432777E-2 Gross Loans $14,470.3 $199.4 1.3779949275412397E-2 CFIA $15.1 $-0.33302081143577794 $-5.1999999999999993 $0 $1.6 $0.53302081143577551 $11.7 $2,446.1999999999998 6.17283950617284E-3 $2,378.5 4.9190666386377969E-3 $-67.699999999999818 $-0.33302081143577794 less: PPP Loans $-,848.2 Unfunded Commitments $3,090.3 $32.9 1.064621557777562E-2 Real Estate - Investor CRE $124.5 $2.4562571888658762 $-16.599999999999998 $13.799999999999999 $26.7 $-31.556257188865882 $119.3 $5,109 2.4368761009982386E-2 $5,216.3999999999996 2.2870178667280118E-2 $107.39999999999964 $2.4562571888658762 Net Loans $13,632.699999999999 $199.4 1.4626596345551506E-2 Reserves / Total Loans + Unfunded $17,560.599999999999 $232.3 1.3228477386877444E-2 Real Estate - Owner Occupied $17.7 $0.59443347808922264 $-0.1 $0.6 $0 $-6.1944334780892216 $12.6 $1,448.1 1.2222912782266419E-2 $1,519.8 8.2905645479668371E-3 $71.700000000000045 $0.59443347808922264 Unfunded Commitments $3,085.7 $32.9 1.0662086398548142E-2 Real Estate - Residential $47.1 $-0.14741464125641807 $0.1 $0.6 $0.8 $-4.952585358743586 $43.5 $2,753.6 1.7104880883207437E-2 $2,744.3 1.5851036694238967E-2 $-9.2999999999997272 $-0.14741464125641807 Reserves / Total Loans + Unfunded $17,566.599999999999 $232.3 1.3223959104209126E-2 Consumer $19.399999999999999 $-1.726708074534161 $-2.4 $0 $1.1000000000000001 $-10.373291925465837 $6 $1,119.5999999999999 1.7327617006073597E-2 $869.4 6.901311249137336E-3 $-,250.19999999999993 $-1.726708074534161 US Premium Finance $5.9 $9.213020189534428E-2 $-1.6 $-1.5 $0 $1.0078697981046556 $3.9 $710.9 8.299338866225912E-3 $728.1 5.356407086938607E-3 $17.200000000000045 $9.213020189534428E-2 Other $0 $0 $0 $0 $0 $0 $0 Inc / (Dec) $0 0 $-56.3 0 $-56.3 $0 $231.9 $0.56422328274808264 $-25.799999999999997 $13.899999999999999 $30.900000000000002 $-52.064223282748088 $199.4 $-32.5 $13,846.300000000001 1.6748156547236444E-2 $13,624.400000000001 1.4635506884706849E-2 $-,221.89999999999975 $0.56422328274808264 Unfunded Commitments $27.4 $0 $0 $0 $0 $5.5 $32.9 $5.5 PPP $1,097.2 $845.9 Other Loans $0 $0 $14,943.500000000002 $14,470.300000000001 1.3779949275412396E-2 ALLL at 9/30/2020 Loan Growth Net Charge-Offs Specific Reserves Q-Factor Changes Model Changes ALLL at 12/31/2020 $231.9 $0.56422328274808264 $-25.799999999999997 $13.899999999999999 $30.900000000000002 $-52.064223282748088 $199.4

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 deferral programs Net OREO reduction of $6.4 million. As a percentage of Total Assets, Total NPAs decreased to 0.48%. Net Charge-Offs (“NCO”) totaled $25.8 million in 4Q20, which equated to an annualized NCO ratio of 0.70% NCOs as a result of the hotel note sale totaled $17.2 million YTD NCOs totaled $43.0 million, which equated to an annualized NCO ratio of 0.31%. Net of the hotel note sale, the YTD NCO ratio was 0.18%.

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 of: 44196 Excludes Service Director CONST Loans Investor CRE Portfolio (CRE, MULTI, CONST) Investor CRE by MSA Loan Type Outstanding (MM's) % NPL % PD Avg Size Commitment (000's) MSA Outstanding (MM's) % of Total Construction Loans: Atlanta GA $1,534.9 0.30114383252565285 RRE - Spec & Models $200.1 3.5000000000000001E-3 2.5999999999999999E-3 $377.4 Jacksonville FL $708.9 0.13908454158410011 RRE - Presold $187.6 1.7000000000000001E-2 0 $273.7 Orlando FL $322.89999999999998 6.3% RRE - Subdivisions $34.5 2.8999999999999998E-3 0 $1,455.6 Charleston SC $250.8 4.9% RRE - Lots & Land $86.2 1.44E-2 4.4000000000000003E-3 $139.4 Greenville SC $149.4 2.9% Sub-Total RRE Construction $508.4 1.03E-2 1.8E-3 $291.8 Tampa FL $149.1 2.9% CML - Improved $877.3 0 0 $7,594.6 Columbia SC $145.1 2.8% CML - Raw Land & Other $90.4 6.1000000000000004E-3 5.0000000000000001E-4 $360 Tallahassee FL $140.30000000000001 2.8% Sub-Total CRE Construction $967.69999999999993 5.9999999999999995E-4 0 $3,615.6 Savannah GA $133 2.6% Total Construction Loans $1,476.1 3.8999999999999998E-3 5.9999999999999995E-4 $760.2 Gainesville FL $101.2 1.9855206105672072 All Other MSAs $698.6 0.13706370538955051 Term Loans: Non-MSAs w/in Footprint $441.8 8.7% Office $825.2 2.0000000000000001E-4 1.2999999999999999E-3 $1,657.2 Other Markets $320.89999999999998 6.3% General Retail $571.5 1.1000000000000001E-3 5.9999999999999995E-4 $1,059.5 Grand Total $5,096.9000000000005 0.99999999999999978 Hotels / Motels $429.3 1.5E-3 6.9999999999999999E-4 $2,894.2 Strip Center, Anchored $443.7 0 0 $5,770.2 Multi-Family $362.5 5.9999999999999995E-4 0 $2,195.6999999999998 Warehouse / Industrial $285.2 2.7000000000000001E-3 8.9999999999999998E-4 $1,153.5999999999999 Strip Center, Non-Anchored $323.7 0 0 $1,957.4 Assisted Living Facilities $126.8 4.0000000000000002E-4 0 $3,308 Mini-Storage Warehouse $166.4 0 0 $1,875 Misc CRE (Church, etc) $86.5 2.9999999999999997E-4 2.9999999999999997E-4 $830.1 Other $0 0 0 $0 Sub-Total CRE Term Loans $3,620.7999999999997 6.9999999999999999E-4 5.9999999999999995E-4 $1,740.9 Grand Total Investor CRE Loans $5,096.8999999999996 1.5E-3 5.9999999999999995E-4 $1,130 CML-Improved Construction Loan Breakdown Collateral Type TCE Office $257.60000000000002 0.15074906367041196 General Retail $153.30000000000001 8.9712078651685373E-2 Hotels $117.5 6.8761704119850164E-2 Strip Center, Anchored $155.1 9.0765449438202223E-2 Multi-Family $674.2 0.39454588014981268 Warehouse / Industrial $97.5 5.7057584269662905E-2 Strip Center, Non-Anchored $74.8 4.3773408239700363E-2 Assisted Living $59.7 3.493679775280898E-2 Mini-Storage $71.2 4.1666666666666657E-2 Misc CRE $47.9 2.8031367041198494E-2 $1,708.8000000000004 0.99999999999999978

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 balances. Approximately 80% of exposure located within the Bank’s primary MSAs. At YE20, $93.0 million, or 18% of outstanding loans remained under some form of payment deferral In 4Q20, we sold $87.5 million of the hotel portfolio (25 loans) for 82% of book value: $55.6 million (57% of total) were classified loans $39.7 million (41% of total) were TDRs $23.8 million (25% of total) were nonaccrual loans Hotels by Product # $$ Committed Balance (MM's) $$ Outstanding (MM's) $$ Avg Committed Balance (M's) Term CRE 94 $378.4 $375.1 $4.0255319148936168 In-Process Construction 7 $96.3 $69.599999999999994 $13.757142857142856 Government Guaranteed (SBA, USDA) 62 $77 $70.900000000000006 $1.2419354838709677 Totals 163 $551.70000000000005 $515.6 $3.3846625766871168 TCE Hotel Portfolio by Brands # Net FMV TCE Avg FMV Avg TCE $$ GGL % GGL National Economy 55 $68.3 $69.3 $1.2418181818181817 $1.26 24.5 0.35353535353535354 Non-Flagged 38 $26.7 $27 $0.70263157894736838 $0.71052631578947367 4.7 0.17407407407407408 Top Tier 70 $420.6 $455.3 $6.0085714285714289 $6.5042857142857144 47.8 0.10498572369866022 Grand Total 163 $515.6 $551.6 $3.1631901840490797 $3.3840490797546012 $77 0.13959390862944163 Top Tier + Nat Eco $524.6 % 0.95105148658448146 MSA # Net FMV TCE Avg FMV Avg TCE Atlanta, GA 18 $98.2 $105.8 $5.4555555555555557 $5.8777777777777773 Jacksonville, FL 19 $88.2 $110.6 $4.6421052631578945 $5.8210526315789473 Orlando, FL 14 $65.2 $65.2 $4.6571428571428575 $4.6571428571428575 Columbia, SC 4 $44.7 $44.7 $11.175000000000001 $11.175000000000001 Tampa, FL 3 $25.3 $25.4 $8.4333333333333336 $8.4666666666666668 Savannah, GA 15 $22 $22.3 $1.4666666666666666 $1.4866666666666668 All Other MSAs 28 $98.3 $101.5 $3.5107142857142857 $3.625 No MSA 62 $73.7 $76.2 $1.1887096774193548 $1.2290322580645161 Grand Total 163 $515.6 $551.69999999999993 $3.1631901840490797 $3.3846625766871163

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 construction portfolio global spec to pre-sold ratio was 1.1:1 Total spec loans at low average loan size of $263.9 thousand Investor CRE 4Q20 production: Production totaled $752.3 million, a 65% increase over 3Q20 production Weighted Average 1.69:1 debt service coverage Weighted Average 61.4% loan/value Updated as of: 44196 Production New CRE Guaranty Structure Loan Type Outstanding (MM's) Committed Exposure (MM's) Debt Service Coverage (DSC)* Loan / Value* Guaranty Structure Outstanding (MM's) Committed Exposure (MM's) Debt Service Coverage (DSC)* Loan / Value* From Super Trial Office $142.5 $199.4 1.85 0.63400000000000001 Non-Recourse $235.1 $295.39999999999998 1.77 0.57799999999999996 Mortgages $0 Multi-Family $10.3 $150.69999999999999 1.71 0.52700000000000002 Burn Off Guaranty $17.899999999999999 $191.4 1.72 0.622 Legacy $0 Strip Center, Anchored $108.5 $149.4 1.68 0.61199999999999999 Full Guaranty $112.2 $142.6 1.61 0.64500000000000002 USPF $0 Retail (inc Single-Tenant) $78.5 $97.9 1.51 0.70499999999999996 Limited Guaranty - By % $44.1 $50.1 1.39 0.73560000000000003 WHSE $0 Warehouse / Industrial $13.1 $48.3 1.82 0.59599999999999997 Limited Guaranty - By $$ $0 $33.799999999999997 1.64 0.59699999999999998 PPP $0 Strip Center, Non-Anchored $28.1 $41.1 1.63 0.67800000000000005 Exempt / Direct Debt $10.9 $23.3 1.89 0.65500000000000003 INST Purchases $0 Misc CRE (Church, etc.) $15.7 $28.2 1.24 0.72699999999999998 Burn Down Guaranty $9 $15.7 1.45 0.53680000000000005 Mini-Storage Warehouses $17.899999999999999 $18.5 1.6 0.36199999999999999 Total CRE Loans $429.2 $752.3 0 0.0% $0 Other CRE Types $8.6 $12.2 1.71 0.54900000000000004 *Based on the average of all loans in that category > $250M Committed Exposure Hotels $6 $6.6 1 0.8 Total CRE Loans $429.20000000000005 $752.30000000000007 1.69 0.61399999999999999 *Based on the average of all loans in that category > $250M Committed Exposure New C&D Loan Type Outstanding (MM's) Committed Exposure (MM's) Avg Size Commitment (000's) RRE Construction - Pre-Sold $59.1 $162.80000000000001 $272.60000000000002 RRE Construction - Spec $37.5 $120.1 $263.89999999999998 A&D, RRE Lots, Other Land Loans $11.5 $13.7 $319.60000000000002 RRE Construction - Model $0.5 $0.8 $283 Total Construction Loans $108.6 $297.39999999999998 $270.89999999999998 Updated as of: 44196 Production New CRE Guaranty Structure Loan Type Outstanding (MM's) Committed Exposure (MM's) Debt Service Coverage (DSC)* Loan / Value* Guaranty Structure Outstanding (MM's) Committed Exposure (MM's) Debt Service Coverage (DSC)* Loan / Value* From Super Trial Office $142.5 $199.4 1.85 0.63400000000000001 Non-Recourse $235.1 $295.39999999999998 1.77 0.57799999999999996 Mortgages $0 Multi-Family $10.3 $150.69999999999999 1.71 0.52700000000000002 Burn Off Guaranty $17.899999999999999 $191.4 1.72 0.622 Legacy $0 Strip Center, Anchored $108.5 $149.4 1.68 0.61199999999999999 Full Guaranty $112.2 $142.6 1.61 0.64500000000000002 USPF $0 Retail (inc Single-Tenant) $78.5 $97.9 1.51 0.70499999999999996 Limited Guaranty - By % $44.1 $50.1 1.39 0.73560000000000003 WHSE $0 Warehouse / Industrial $13.1 $48.3 1.82 0.59599999999999997 Limited Guaranty - By $$ $0 $33.799999999999997 1.64 0.59699999999999998 PPP $0 Strip Center, Non-Anchored $28.1 $41.1 1.63 0.67800000000000005 Exempt / Direct Debt $10.9 $23.3 1.89 0.65500000000000003 INST Purchases $0 Misc CRE (Church, etc.) $15.7 $28.2 1.24 0.72699999999999998 Burn Down Guaranty $9 $15.7 1.45 0.53680000000000005 Mini-Storage Warehouses $17.899999999999999 $18.5 1.6 0.36199999999999999 Total CRE Loans $429.2 $752.3 0 0.0% $0 Other CRE Types $8.6 $12.2 1.71 0.54900000000000004 *Based on the average of all loans in that category > $250M Committed Exposure Hotels $6 $6.6 1 0.8 Total CRE Loans $429.20000000000005 $752.30000000000007 1.69 0.61399999999999999 *Based on the average of all loans in that category > $250M Committed Exposure New C&D Loan Type Outstanding (MM's) Committed Exposure (MM's) Avg Size Commitment (000's) RRE Construction - Pre-Sold $59.1 $162.80000000000001 $272.60000000000002 RRE Construction - Spec $37.5 $120.1 $263.89999999999998 A&D, RRE Lots, Other Land Loans $11.5 $13.7 $319.60000000000002 RRE Construction - Model $0.5 $0.8 $283 Total Construction Loans $108.6 $297.39999999999998 $270.89999999999998

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 Updated as of: 44196 BASED ON SUPER TRIAL CFIA LOANS USPF Production CFIA Loans Current Year Loan Type Outstanding (MM's) % of Portfolio % NPL % PD Avg Loan Size (000's) 4Q20 Rolling 12-mos Avg of Workdays from Trailing: 12 Months MTD QTD YTD PPP Loans $0 #DIV/0! 0 0 $0 New Production ($MM's) $428.7 $1,693.6 Average AR ,728,568,849.4023778 ,725,872,439.10333312 ,736,827,497.7099998 ,728,206,566.23157442 Mortgage Warehouse / MSR $0 #DIV/0! 0 0 $0 Weighted-Avg Down Payment 0.23400000000000001 0.22800000000000001 Total AF 1,693,635,920.1300004 ,165,918,415.44999999 ,428,677,860.47999984 1,705,989,547.1600006 US Premium Finance $0 #DIV/0! 0 0 $0 Weighted-Avg # Instalments 9.6999999999999993 9.6999999999999993 Total Units ,102,607 8,164 25,061 ,103,298 Equipment $0 #DIV/0! 0 0 $0 Avg Loan Size 16,506.46567290734 20,323.176806712396 17,105.377298591429 16,515.223403744512 Ameris Equipment Finance (AEF) $0 #DIV/0! 0 0 $0 Wtd Avg DP % 0.2283325323285624 0.23258572043703804 0.23387327987377607 0.22708259999309333 Patriot Capital $0 #DIV/0! 0 0 $0 Wtd Avg Maturity (Months) 9.6559321470592838 9.6720283997111594 9.6748876911484434 9.6550952158519756 A/R & Inventory $0 #DIV/0! 0 0 $0 Avg Daily # of Quotes 808.03174603174602 798.04761904761904 795 807.66929133858264 Government Guaranteed Lending $0 #DIV/0! 0 0 $0 Avg Daily AF 6,720,777.4608333344 7,900,876.9261904759 6,914,159.399999972 6,716,494.2801574823 Other $0 #DIV/0! 0 0 $0 Avg Daily Units 407.17063492063494 388.76190476190476 404.20967741935482 406.68503937007875 Totals $0 100.0% 0 0 $0 Avg Daily Deposits 6,938,936.3142460342 8,067,458.8919047611 7,613,741.4424193548 6,975,587.7245669309 Avg Exposure % of AR 4.1778381735255547E-2 5.1526485346526853E-2 5.2581367304792556E-2 4.168686183975933E-2 C&I Total from page 1 $3,528.2130000000002 Avg Cxld $ Ratio 3.4239739623238542E-2 2.8980202385959612E-2 3.0072307946487069E-2 3.4253767324098156E-2 Avg Cxld Units Ratio 4.7790982562861239E-2 3.5720663276960898E-2 3.4634328424707692E-2 4.7820290358765741E-2 Difference $-3,528.2130000000002 Wtd Avg APR 7.6684401505416305E-2 7.0028410424008106E-2 7.5957784202258266E-2 7.67695221831632E-2 APP 1.6103505520476617E-2 1.5691227524286089E-2 1.6860137502925317E-2 1.6158772678699564E-2 WA Agent Buy Rate 6.0580895984939688E-2 5.4337182899722017E-2 5.9097646699332949E-2 6.0610749504463636E-2 Ameris Wtd Avg Buy Rate 3.6250669781978863E-2 3.1629855616578717E-2 3.3161970585463885E-2 3.6322849989510179E-2 Wtd Avg 6 Mo FHLB Rate 5.2075589898630727E-3 2.3933110199552592E-3 2.4754588309267478E-3 5.2951034528377332E-3 Est. Net Interest Margin % 3.1043110792115788E-2 2.9236544596623459E-2 3.0686511754537137E-2 3.1027746536672444E-2 Average 1 Mo FHLB Rate 5.0297619047619032E-3 2.2000000000000001E-3 2.2435483870967723E-3 5.1220472440944862E-3 Updated as of: 44196 BASED ON SUPER TRIAL CFIA LOANS USPF Production CFIA Loans Current Year Loan Type Outstanding (MM's) % of Portfolio % NPL % PD Avg Loan Size (000's) 4Q20 Rolling 12-mos Avg of Workdays from Trailing: 12 Months MTD QTD YTD PPP Loans $848.19999999999993 0.26173357607924219 0 1E-4 $111 New Production ($MM's) $428.7 $1,693.6 Average AR ,728,568,849.4023778 ,725,872,439.10333312 ,736,827,497.7099998 ,728,206,566.23157442 Mortgage Warehouse / MSR $994.4 0.30684728608016792 0 0 $9,845.6 Weighted-Avg Down Payment 0.23400000000000001 0.22800000000000001 Total AF 1,693,635,920.1300004 ,165,918,415.44999999 ,428,677,860.47999984 1,705,989,547.1600006 US Premium Finance $690.8 0.2131638226309131 9.5999999999999992E-3 1.61E-2 $10.1 Weighted-Avg # Instalments 9.6999999999999993 9.6999999999999993 Total Units ,102,607 8,164 25,061 ,103,298 Equipment $148.1 4.6% 1.15E-2 1.4E-3 $66.400000000000006 Avg Loan Size 16,506.46567290734 20,323.176806712396 17,105.377298591429 16,515.223403744512 Ameris Equipment Finance (AEF) $79.099999999999994 2.4% 1.77E-2 5.1000000000000004E-3 $218.6 Wtd Avg DP % 0.2283325323285624 0.23258572043703804 0.23387327987377607 0.22708259999309333 Patriot Capital $68.599999999999994 2.1% 7.3000000000000001E-3 2.4799999999999999E-2 $64.599999999999994 Wtd Avg Maturity (Months) 9.6559321470592838 9.6720283997111594 9.6748876911484434 9.6550952158519756 A/R & Inventory $84.7 2.6% 2.1299999999999999E-2 3.5000000000000001E-3 $152.30000000000001 Avg Daily # of Quotes 808.03174603174602 798.04761904761904 795 807.66929133858264 Government Guaranteed Lending $41.4 1.3% 0.1014 1.21E-2 $108.4 Avg Daily AF 6,720,777.4608333344 7,900,876.9261904759 6,914,159.399999972 6,716,494.2801574823 Other $285.39999999999998 8.8% 3.5000000000000001E-3 3.8E-3 $157.9 Avg Daily Units 407.17063492063494 388.76190476190476 404.20967741935482 406.68503937007875 Totals $3,240.6999999999994 100.0% 5.3E-3 4.7999999999999996E-3 $39.4 Avg Daily Deposits 6,938,936.3142460342 8,067,458.8919047611 7,613,741.4424193548 6,975,587.7245669309 Avg Exposure % of AR 4.1778381735255547E-2 5.1526485346526853E-2 5.2581367304792556E-2 4.168686183975933E-2 C&I Total from page 1 $3,190.2350000000001 Avg Cxld $ Ratio 3.4239739623238542E-2 2.8980202385959612E-2 3.0072307946487069E-2 3.4253767324098156E-2 Avg Cxld Units Ratio 4.7790982562861239E-2 3.5720663276960898E-2 3.4634328424707692E-2 4.7820290358765741E-2 Difference $50.464999999999236 Wtd Avg APR 7.6684401505416305E-2 7.0028410424008106E-2 7.5957784202258266E-2 7.67695221831632E-2 APP 1.6103505520476617E-2 1.5691227524286089E-2 1.6860137502925317E-2 1.6158772678699564E-2 WA Agent Buy Rate 6.0580895984939688E-2 5.4337182899722017E-2 5.9097646699332949E-2 6.0610749504463636E-2 Ameris Wtd Avg Buy Rate 3.6250669781978863E-2 3.1629855616578717E-2 3.3161970585463885E-2 3.6322849989510179E-2 Wtd Avg 6 Mo FHLB Rate 5.2075589898630727E-3 2.3933110199552592E-3 2.4754588309267478E-3 5.2951034528377332E-3 Est. Net Interest Margin % 3.1043110792115788E-2 2.9236544596623459E-2 3.0686511754537137E-2 3.1027746536672444E-2 Average 1 Mo FHLB Rate 5.0297619047619032E-3 2.2000000000000001E-3 2.2435483870967723E-3 5.1220472440944862E-3

Ameris Bancorp Press Release & Financial Highlights December 31, 2020