8-K
Ameris Bancorp (ABCB)
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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): | April 23, 2026 | | --- | --- || 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 | New York Stock Exchange |
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 April 23, 2026, Ameris Bancorp (the “Company”) issued a press release announcing its unaudited financial results for the quarter ended March 31, 2026. 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 April 24, 2026 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 April 23, 2026 |
|---|---|
| 99.2 | Investor Presentation re: 1st Quarter 2026 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: April 23, 2026
Document
News Release
AMERIS BANCORP ANNOUNCES FIRST QUARTER 2026 FINANCIAL RESULTS
Highlights of Ameris’s results for the first quarter of 2026 include the following:
•Net income of $110.5 million, or $1.63 per diluted share
•Return on average assets of 1.62%
•Return on average tangible common equity(1) of 14.75%
•Net interest margin (TE) expansion of 3bps to 3.88% for the first quarter of 2026
•Growth in earning assets of $607.8 million, or 9.7% annualized
•Loan growth of $314.5 million, or 5.9% annualized
•Deposit growth of $260.7 million, or 4.7% annualized
•Efficiency ratio of 49.97%, an improvement from 52.83% for the first quarter of 2025
•Revenue growth of 9.5% annualized in the first quarter of 2026
•Noninterest-bearing deposit mix improved to 29.8% of total deposits
•Annualized net charge-offs declined to 0.21% of average total loans
•Tangible book value(1) growth of $0.61 per share, or 5.6% annualized, to $44.79 at March 31, 2026
•Increased share repurchases totaling $74.9 million, or 950,400 shares, in the quarter
ATLANTA, GA, April 23, 2026 - Ameris Bancorp (NYSE: ABCB) (the “Company” or “Ameris”) today reported net income of $110.5 million, or $1.63 per diluted share, for the quarter ended March 31, 2026, compared with $87.9 million, or $1.27 per diluted share, for the quarter ended March 31, 2025.
Commenting on the Company’s results, Palmer Proctor, the Company’s Chief Executive Officer, said, “First quarter was a strong start to the year with our performance metrics continuing to outpace the broader industry. Our ROA expanded to 1.62%, our return on average tangible common equity grew to 14.75% and our margin expanded 3 basis points to 3.88% for the first quarter. The continued focus on expenses across the Company resulted in an efficiency ratio just under 50% despite some seasonal headwinds. Growth was robust with annualized revenue growth in the high single digits and annualized loan and deposit growth in the mid-single digits. We were more active in our share repurchase program, buying back almost $75 million of our common stock in the quarter or approximately 1.4% of our outstanding equity. Overall, another solid quarter from Ameris with our focus remaining on profitably growing our franchise across our attractive Southeast markets.”
Net Interest Income and Net Interest Margin
Net interest income on a tax-equivalent basis (TE) was $245.4 million in the first quarter of 2026, a decrease of $903,000, or 0.4%, from last quarter and an increase of $22.6 million, or 10.2%, compared with the first quarter of 2025. The Company's average earning assets increased during the quarter by $265.2 million, or 4.2% annualized, primarily due to an increase of $311.9 million in average portfolio loans outstanding and an increase of $99.7 million in the average balance of investment securities, partially offset by a decrease in average loans held for sale of $142.1 million.
The Company's net interest margin expanded to 3.88% for the first quarter of 2026, a three-basis point increase from 3.85% reported for the fourth quarter of 2025 and a 15-basis point improvement from the 3.73% reported for the first quarter of 2025.
Yields on earning assets decreased four basis points during the quarter to 5.57%, compared with 5.61% in the fourth quarter of 2025. This decrease is primarily related to a two-basis point decrease in yield on portfolio loans outstanding during the first quarter of 2026.
The Company’s total cost of funds decreased seven basis points to 1.88% in the first quarter of 2026, compared with 1.95% in the fourth quarter of 2025, and improved 18 basis points compared with the first quarter of 2025. Deposit costs decreased 11 basis points during the first quarter of 2026 to 1.76%, compared with 1.87% in the fourth quarter of 2025. Costs of interest-bearing deposits during the quarter were 2.50%, a decrease of 16 basis points compared with the fourth quarter of 2025.
Noninterest Income
Noninterest income increased $8.1 million, or 13.1%, in the first quarter of 2026 to $69.9 million, compared with $61.8 million for the fourth quarter of 2025. Mortgage banking activity increased $5.1 million, or 16.1%, to $37.0 million in the first quarter of 2026, compared with $31.9 million for the fourth quarter of 2025. Total production in the retail mortgage division seasonally decreased $128.4 million, or 10.6%, to $1.09 billion in the first quarter of 2026, compared with $1.22 billion for the fourth quarter of 2025. The retail mortgage open pipeline was $632.7 million at the end of the first quarter of 2026, compared with $701.9 million for the fourth quarter of 2025. Gain on sale spreads decreased to 2.08% in the first quarter of 2026 from 2.20% for the fourth quarter of 2025. Other noninterest income increased $2.8 million, or 44.4%, in the first quarter of 2026 to $9.1 million, compared with $6.3 million for the fourth quarter of 2025. This increase is primarily due to a $1.1 million loss on the sale of mortgage servicing rights and a $910,000 servicing right impairment in the fourth quarter of 2025, both of which did not recur in the current quarter, and an $837,000 increase in gain on sale of SBA loans in the first quarter of 2026 compared with the fourth quarter of 2025.
Noninterest Expense
Noninterest expense increased $14.0 million, or 9.8%, to $157.1 million during the first quarter of 2026, compared with $143.1 million for the fourth quarter of 2025. The increase was primarily driven by cyclical increases in payroll tax and 401(k) expenses totaling $4.9 million, an increase in incentives of $4.3 million, an increase in advertising and marketing expenses of $1.3 million, an increase of $1.1 million in FDIC assessment expense and an increase in donations of $1.0 million. Management continues to deliver high performing operating efficiency, with an efficiency ratio of 49.97% in the first quarter of 2026, compared with 46.59% in the fourth quarter of 2025 and 52.83% in the first quarter of 2025.
Income Tax Expense
The Company's effective tax rate for the first quarter of 2026 was 21.5%, compared with 23.2% for the fourth quarter of 2025. The decreased rate resulted primarily from the excess benefit of share-based compensation awards that vested during the first quarter of 2026.
Balance Sheet Trends
Total assets at March 31, 2026 were $28.11 billion, compared with $27.52 billion at December 31, 2025. During the first quarter of 2026, loans, net of unearned income, increased by $314.5 million, or 5.9% annualized, compared with $21.51 billion at December 31, 2025. Unfunded commitments increased $298.7 million during the first quarter of 2026, due to strong production in construction and warehouse lending during the quarter. Loans held for sale decreased to $496.6 million at March 31, 2026 from $623.2 million at December 31, 2025. Debt securities available-for-sale amounted to $2.35 billion, compared with $2.21 billion at December 31, 2025.
At March 31, 2026, total deposits amounted to $22.64 billion, compared with $22.38 billion at December 31, 2025. During the first quarter of 2026, deposits grew $260.7 million, with noninterest-bearing accounts increasing $322.8 million, interest-bearing demand accounts increasing $168.1 million, brokered CDs increasing $143.9 million and savings accounts increasing $9.0 million. Such increases were offset by decreases in money market accounts of $330.5 million and retail CDs of $52.7 million. Noninterest-bearing accounts as a percentage of total deposits increased, such that at March 31, 2026, noninterest-bearing deposit accounts represented $6.75 billion, or 29.8% of total deposits, compared with $6.43 billion, or 28.7% of total deposits, at December 31, 2025.
Shareholders’ equity at March 31, 2026 totaled $4.08 billion, an increase of $6.1 million, or 0.1%, from December 31, 2025. The increase in shareholders’ equity was primarily the result of earnings of $110.5 million during the first quarter of 2026, largely offset by dividends declared, share repurchases and a decrease in accumulated other comprehensive income of $9.8 million resulting from changes in interest rates on the Company's investment portfolio. Tangible book value per share(1) increased $0.61 per share, or 5.6% annualized, during the first quarter of
2026 to $44.79 at March 31, 2026. Tangible common equity as a percentage of tangible assets was 11.15% at March 31, 2026, compared with 11.37% at the end of 2025. The Company repurchased 950,400 shares of its common stock in the quarter ending March 31, 2026.
Credit Quality
During the first quarter of 2026, the Company recorded a provision for credit losses of $16.6 million, compared with a provision of $23.0 million in the fourth quarter of 2025. The allowance for credit losses on loans was 1.62% of loans at March 31, 2026, unchanged from the end of 2025. Nonperforming assets as a percentage of total assets increased one basis point to 0.45% during the quarter. Approximately $34.5 million, or 27.0%, of the nonperforming assets at March 31, 2026 were GNMA-guaranteed mortgage loans, which present minimal loss exposure for the Company. Excluding these government-guaranteed loans, nonperforming assets as a percentage of total assets decreased two basis points to 0.33% at March 31, 2026, compared with 0.35% at the end of the fourth quarter of 2025. The net charge-off ratio was 21 basis points for the first quarter of 2026, compared with 26 basis points for the fourth quarter of 2025.
Conference Call
The Company will host a teleconference at 9:00 a.m. Eastern time on Friday, April 24, 2026, to discuss the Company's results and answer appropriate questions. The conference call can be accessed by dialing 1-844-481-2939. The conference call ID is Ameris Bancorp. A replay of the call will be available beginning one hour after the end of the conference call until May 1, 2026. To listen to the replay, dial 1-855-669-9658. The conference replay access code is 4888731. The financial information discussed will be available on the Investor Relations page of the Ameris Bank website at ir.amerisbank.com. Participants also may listen to a live webcast of the presentation by visiting the link on the Investor Relations page of the Ameris Bank website.
About Ameris Bancorp
Ameris Bancorp is the parent of Ameris Bank, a state-chartered bank headquartered in Atlanta, Georgia. Ameris operates financial centers in five southeastern states and also serves consumer and business customers nationwide through select lending channels. Ameris manages $28.1 billion in assets as of March 31, 2026, and provides a full range of traditional banking and lending products, treasury and cash management, insurance premium financing, and mortgage and refinancing services. Learn more about Ameris at www.amerisbank.com.
(1) Considered non-GAAP financial measure - See reconciliation of GAAP to non-GAAP financial measures in tables 9A - 9D.
This news release contains certain performance measures determined by methods other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The Company’s management uses these non-GAAP financial measures in its analysis of the Company’s performance. These measures are useful when evaluating the underlying performance and efficiency of the Company’s operations and balance sheet. The Company’s management believes that these non-GAAP financial measures provide a greater understanding of ongoing operations, enhance comparability of results with prior periods and demonstrate the effects of significant gains and charges in the current period. The Company’s management believes that investors may use these non-GAAP financial measures to evaluate the Company’s financial performance without the impact of unusual items that may obscure trends in the Company’s underlying performance. These disclosures should not be viewed as a substitute for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP financial measures that may be presented by other companies.
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 management's opinions only as of the date hereof 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 and payment behavior of borrowers, collateral values, asset recovery values and the value of investment securities; movements in interest rates and their impacts on net interest margin, investment security valuations and other performance measures; expectations on credit quality and performance; legislative and regulatory changes; changes in U.S. government trade, monetary and fiscal
policies, including tariffs; competitive pressures on product pricing and services; fraud, theft or other misconduct impacting our customers or operations; cybersecurity risks, including data breaches, malware, ransomware and account takeover; the success and timing of our business strategies and plans; 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, 2025 and the Company's 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 except as required by law.
For more information, contact:
Brady Gailey
Executive Director of Corporate Development
(404) 240-1517
| AMERIS BANCORP AND SUBSIDIARIES | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FINANCIAL TABLES | |||||||||||||||
| Financial Highlights | Table 1 | ||||||||||||||
| Three Months Ended | |||||||||||||||
| Mar | Dec | Sep | Jun | Mar | |||||||||||
| (dollars in thousands except per share data) | 2026 | 2025 | 2025 | 2025 | 2025 | ||||||||||
| EARNINGS | |||||||||||||||
| Net income | $ | 110,492 | $ | 108,356 | $ | 106,029 | $ | 109,834 | $ | 87,935 | |||||
| Adjusted net income(1) | $ | 110,492 | $ | 108,838 | $ | 104,040 | $ | 109,444 | $ | 88,012 | |||||
| COMMON SHARE DATA | |||||||||||||||
| Earnings per share available to common shareholders | |||||||||||||||
| Basic | $ | 1.64 | $ | 1.59 | $ | 1.55 | $ | 1.60 | $ | 1.28 | |||||
| Diluted | $ | 1.63 | $ | 1.59 | $ | 1.54 | $ | 1.60 | $ | 1.27 | |||||
| Adjusted diluted EPS(1) | $ | 1.63 | $ | 1.59 | $ | 1.52 | $ | 1.59 | $ | 1.27 | |||||
| Cash dividends per share | $ | 0.20 | $ | 0.20 | $ | 0.20 | $ | 0.20 | $ | 0.20 | |||||
| Book value per share (period end) | $ | 60.64 | $ | 59.92 | $ | 58.56 | $ | 57.02 | $ | 55.49 | |||||
| Tangible book value per share (period end)(1) | $ | 44.79 | $ | 44.18 | $ | 42.90 | $ | 41.32 | $ | 39.78 | |||||
| Weighted average number of shares | |||||||||||||||
| Basic | 67,540,444 | 68,022,346 | 68,401,737 | 68,594,608 | 68,785,458 | ||||||||||
| Diluted | 67,766,997 | 68,328,365 | 68,665,669 | 68,796,577 | 69,030,331 | ||||||||||
| Period end number of shares | 67,320,298 | 68,022,316 | 68,587,742 | 68,711,043 | 68,910,924 | ||||||||||
| Market data | |||||||||||||||
| High intraday price | $ | 87.98 | $ | 78.99 | $ | 76.58 | $ | 65.43 | $ | 68.85 | |||||
| Low intraday price | $ | 73.20 | $ | 68.80 | $ | 64.30 | $ | 48.27 | $ | 55.32 | |||||
| Period end closing price | $ | 77.99 | $ | 74.27 | $ | 73.31 | $ | 64.70 | $ | 57.57 | |||||
| Average daily volume | 558,814 | 448,341 | 435,766 | 416,355 | 430,737 | ||||||||||
| PERFORMANCE RATIOS | |||||||||||||||
| Return on average assets | 1.62 | % | 1.57 | % | 1.56 | % | 1.65 | % | 1.36 | % | |||||
| Adjusted return on average assets(1) | 1.62 | % | 1.58 | % | 1.53 | % | 1.64 | % | 1.36 | % | |||||
| Return on average common equity | 10.91 | % | 10.63 | % | 10.61 | % | 11.40 | % | 9.39 | % | |||||
| Adjusted return on average tangible common equity(1) | 14.75 | % | 14.53 | % | 14.29 | % | 15.76 | % | 13.15 | % | |||||
| Earning asset yield (TE) | 5.57 | % | 5.61 | % | 5.66 | % | 5.64 | % | 5.61 | % | |||||
| Total cost of funds | 1.88 | % | 1.95 | % | 2.05 | % | 2.06 | % | 2.06 | % | |||||
| Net interest margin (TE) | 3.88 | % | 3.85 | % | 3.80 | % | 3.77 | % | 3.73 | % | |||||
| Efficiency ratio | 49.97 | % | 46.59 | % | 49.19 | % | 51.63 | % | 52.83 | % | |||||
| Adjusted efficiency ratio(1) | 49.97 | % | 46.68 | % | 49.62 | % | 51.74 | % | 52.79 | % | |||||
| CAPITAL ADEQUACY (period end) | |||||||||||||||
| Shareholders' equity to assets | 14.52 | % | 14.81 | % | 14.82 | % | 14.68 | % | 14.42 | % | |||||
| Tangible common equity to tangible assets(1) | 11.15 | % | 11.37 | % | 11.31 | % | 11.09 | % | 10.78 | % | |||||
| OTHER DATA (period end) | |||||||||||||||
| Full time equivalent employees | |||||||||||||||
| Banking Division | 2,023 | 2,043 | 2,068 | 2,036 | 2,045 | ||||||||||
| Retail Mortgage Division | 528 | 538 | 546 | 550 | 577 | ||||||||||
| Warehouse Lending Division | 7 | 7 | 8 | 8 | 7 | ||||||||||
| Premium Finance Division | 84 | 85 | 78 | 78 | 81 | ||||||||||
| Total Ameris Bancorp FTE headcount | 2,642 | 2,673 | 2,700 | 2,672 | 2,710 | ||||||||||
| Branch locations | 163 | 163 | 164 | 164 | 164 | ||||||||||
| Deposits per branch location | $ | 138,876 | $ | 137,276 | $ | 135,537 | $ | 133,736 | $ | 133,612 | |||||
| (1)Considered non-GAAP financial measure - See reconciliation of GAAP to non-GAAP financial measures in tables 9A - 9D | |||||||||||||||
| AMERIS BANCORP AND SUBSIDIARIES | |||||||||||||||
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| FINANCIAL TABLES | |||||||||||||||
| Income Statement | Table 2 | ||||||||||||||
| Three Months Ended | |||||||||||||||
| Mar | Dec | Sep | Jun | Mar | |||||||||||
| (dollars in thousands except per share data) | 2026 | 2025 | 2025 | 2025 | 2025 | ||||||||||
| Interest income | |||||||||||||||
| Interest and fees on loans | $ | 317,883 | $ | 323,833 | $ | 321,457 | $ | 315,893 | $ | 304,168 | |||||
| Interest on taxable securities | 25,474 | 24,886 | 23,253 | 20,696 | 18,492 | ||||||||||
| Interest on nontaxable securities | 374 | 422 | 343 | 334 | 329 | ||||||||||
| Interest on deposits in other banks | 8,040 | 8,922 | 9,993 | 10,715 | 10,789 | ||||||||||
| Total interest income | 351,771 | 358,063 | 355,046 | 347,638 | 333,778 | ||||||||||
| Interest expense | |||||||||||||||
| Interest on deposits | 96,227 | 105,314 | 106,851 | 106,796 | 105,215 | ||||||||||
| Interest on other borrowings | 11,108 | 7,442 | 10,231 | 9,029 | 6,724 | ||||||||||
| Total interest expense | 107,335 | 112,756 | 117,082 | 115,825 | 111,939 | ||||||||||
| Net interest income | 244,436 | 245,307 | 237,964 | 231,813 | 221,839 | ||||||||||
| Provision for loan losses | 17,895 | 16,601 | 11,176 | 3,110 | 16,519 | ||||||||||
| Provision for unfunded commitments | (1,338) | 6,348 | 11,446 | (335) | 5,373 | ||||||||||
| Provision for other credit losses | (6) | 1 | 8 | (3) | — | ||||||||||
| Provision for credit losses | 16,551 | 22,950 | 22,630 | 2,772 | 21,892 | ||||||||||
| Net interest income after provision for credit losses | 227,885 | 222,357 | 215,334 | 229,041 | 199,947 | ||||||||||
| Noninterest income | |||||||||||||||
| Service charges on deposit accounts | 13,679 | 14,088 | 13,931 | 13,493 | 13,133 | ||||||||||
| Mortgage banking activity | 37,008 | 31,874 | 40,666 | 39,221 | 35,254 | ||||||||||
| Other service charges, commissions and fees | 1,027 | 1,102 | 1,124 | 1,158 | 1,109 | ||||||||||
| Gain on securities | — | 12 | 1,581 | — | 40 | ||||||||||
| Equipment finance activity | 9,086 | 8,434 | 8,858 | 6,572 | 6,698 | ||||||||||
| Other noninterest income | 9,120 | 6,317 | 10,114 | 8,467 | 7,789 | ||||||||||
| Total noninterest income | 69,920 | 61,827 | 76,274 | 68,911 | 64,023 | ||||||||||
| Noninterest expense | |||||||||||||||
| Salaries and employee benefits | 91,366 | 81,997 | 90,948 | 89,308 | 86,615 | ||||||||||
| Occupancy and equipment | 11,625 | 11,321 | 11,524 | 11,401 | 10,677 | ||||||||||
| Data processing and communications expenses | 16,793 | 16,236 | 16,058 | 15,366 | 14,855 | ||||||||||
| Credit resolution-related expenses(1) | 509 | 953 | 770 | 657 | 765 | ||||||||||
| Advertising and marketing | 3,296 | 1,984 | 3,377 | 3,745 | 2,883 | ||||||||||
| Amortization of intangible assets | 3,393 | 3,879 | 3,879 | 4,076 | 4,103 | ||||||||||
| Loan servicing expenses | 7,380 | 7,267 | 8,142 | 7,897 | 7,823 | ||||||||||
| Other noninterest expenses | 22,718 | 19,453 | 19,868 | 22,810 | 23,313 | ||||||||||
| Total noninterest expense | 157,080 | 143,090 | 154,566 | 155,260 | 151,034 | ||||||||||
| Income before income tax expense | 140,725 | 141,094 | 137,042 | 142,692 | 112,936 | ||||||||||
| Income tax expense | 30,233 | 32,738 | 31,013 | 32,858 | 25,001 | ||||||||||
| Net income | $ | 110,492 | $ | 108,356 | $ | 106,029 | $ | 109,834 | $ | 87,935 | |||||
| Diluted earnings per common share | $ | 1.63 | $ | 1.59 | $ | 1.54 | $ | 1.60 | $ | 1.27 | |||||
| (1) Includes expenses associated with problem loans and OREO, as well as OREO losses and writedowns. | |||||||||||||||
| AMERIS BANCORP AND SUBSIDIARIES | |||||||||||||||
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| FINANCIAL TABLES | |||||||||||||||
| Period End Balance Sheet | Table 3 | ||||||||||||||
| Mar | Dec | Sep | Jun | Mar | |||||||||||
| (dollars in thousands) | 2026 | 2025 | 2025 | 2025 | 2025 | ||||||||||
| Assets | |||||||||||||||
| Cash and due from banks | $ | 235,114 | $ | 253,807 | $ | 216,927 | $ | 249,676 | $ | 253,289 | |||||
| Interest-bearing deposits in banks | 1,094,185 | 835,113 | 826,237 | 920,594 | 1,039,111 | ||||||||||
| Debt securities available-for-sale, at fair value | 2,353,396 | 2,207,173 | 2,131,671 | 1,871,298 | 1,943,011 | ||||||||||
| Debt securities held-to-maturity, at amortized cost | 202,550 | 203,242 | 202,581 | 176,487 | 173,757 | ||||||||||
| Other investments | 100,718 | 85,443 | 70,644 | 69,910 | 65,630 | ||||||||||
| Loans held for sale | 496,629 | 623,152 | 604,136 | 544,091 | 545,388 | ||||||||||
| Loans, net of unearned income | 21,827,980 | 21,513,522 | 21,258,374 | 21,041,497 | 20,706,644 | ||||||||||
| Allowance for credit losses | (354,682) | (348,141) | (345,294) | (341,567) | (345,555) | ||||||||||
| Loans, net | 21,473,298 | 21,165,381 | 20,913,080 | 20,699,930 | 20,361,089 | ||||||||||
| Other real estate owned | 3,091 | 2,918 | 3,137 | 1,825 | 863 | ||||||||||
| Premises and equipment, net | 216,397 | 213,097 | 211,567 | 211,434 | 207,895 | ||||||||||
| Goodwill | 1,015,646 | 1,015,646 | 1,015,646 | 1,015,646 | 1,015,646 | ||||||||||
| Other intangible assets, net | 51,430 | 54,824 | 58,703 | 62,582 | 66,658 | ||||||||||
| Cash value of bank owned life insurance | 424,164 | 420,583 | 417,096 | 414,381 | 410,890 | ||||||||||
| Other assets | 443,317 | 435,500 | 428,404 | 442,299 | 431,713 | ||||||||||
| Total assets | $ | 28,109,935 | $ | 27,515,879 | $ | 27,099,829 | $ | 26,680,153 | $ | 26,514,940 | |||||
| Liabilities | |||||||||||||||
| Deposits | |||||||||||||||
| Noninterest-bearing | $ | 6,748,976 | $ | 6,426,145 | $ | 6,757,233 | $ | 6,800,519 | $ | 6,744,781 | |||||
| Interest-bearing | 15,887,764 | 15,949,850 | 15,470,845 | 15,132,156 | 15,167,628 | ||||||||||
| Total deposits | 22,636,740 | 22,375,995 | 22,228,078 | 21,932,675 | 21,912,409 | ||||||||||
| Other borrowings | 887,974 | 558,039 | 337,094 | 376,700 | 276,744 | ||||||||||
| Subordinated deferrable interest debentures | 134,801 | 134,302 | 133,804 | 133,306 | 132,807 | ||||||||||
| Other liabilities | 368,293 | 371,515 | 384,152 | 319,794 | 369,178 | ||||||||||
| Total liabilities | 24,027,808 | 23,439,851 | 23,083,128 | 22,762,475 | 22,691,138 | ||||||||||
| Shareholders' Equity | |||||||||||||||
| Preferred stock | — | — | — | — | — | ||||||||||
| Common stock | 73,252 | 72,898 | 72,900 | 72,897 | 72,885 | ||||||||||
| Capital stock | 1,973,881 | 1,971,131 | 1,968,124 | 1,964,896 | 1,961,732 | ||||||||||
| Retained earnings | 2,307,358 | 2,210,385 | 2,115,712 | 2,023,493 | 1,927,489 | ||||||||||
| Accumulated other comprehensive income (loss), net of tax | (1,476) | 8,312 | 5,171 | (6,886) | (14,430) | ||||||||||
| Treasury stock | (270,888) | (186,698) | (145,206) | (136,722) | (123,874) | ||||||||||
| Total shareholders' equity | 4,082,127 | 4,076,028 | 4,016,701 | 3,917,678 | 3,823,802 | ||||||||||
| Total liabilities and shareholders' equity | $ | 28,109,935 | $ | 27,515,879 | $ | 27,099,829 | $ | 26,680,153 | $ | 26,514,940 | |||||
| Other Data | |||||||||||||||
| Earning assets | $ | 26,075,458 | $ | 25,467,645 | $ | 25,093,643 | $ | 24,623,877 | $ | 24,473,541 | |||||
| Intangible assets | 1,067,076 | 1,070,470 | 1,074,349 | 1,078,228 | 1,082,304 | ||||||||||
| Interest-bearing liabilities | 16,910,539 | 16,642,191 | 15,941,743 | 15,642,162 | 15,577,179 | ||||||||||
| Average assets | 27,672,313 | 27,394,953 | 26,972,134 | 26,757,322 | 26,229,423 | ||||||||||
| Average common shareholders' equity | 4,107,670 | 4,044,338 | 3,964,207 | 3,865,031 | 3,798,149 | ||||||||||
| AMERIS BANCORP AND SUBSIDIARIES | |||||||||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| FINANCIAL TABLES | |||||||||||||||
| Asset Quality Information | Table 4 | ||||||||||||||
| Three Months Ended | |||||||||||||||
| Mar | Dec | Sep | Jun | Mar | |||||||||||
| (dollars in thousands) | 2026 | 2025 | 2025 | 2025 | 2025 | ||||||||||
| Allowance for Credit Losses | |||||||||||||||
| Balance at beginning of period | $ | 401,558 | $ | 392,362 | $ | 377,181 | $ | 381,507 | $ | 368,663 | |||||
| Provision for loan losses | 17,895 | 16,601 | 11,176 | 3,110 | 16,519 | ||||||||||
| Provision for unfunded commitments | (1,338) | 6,348 | 11,446 | (335) | 5,373 | ||||||||||
| Provision for other credit losses | (6) | 1 | 8 | (3) | — | ||||||||||
| Provision for credit losses | 16,551 | 22,950 | 22,630 | 2,772 | 21,892 | ||||||||||
| Charge-offs | 17,527 | 19,575 | 13,631 | 14,227 | 15,383 | ||||||||||
| Recoveries | 6,173 | 5,821 | 6,182 | 7,129 | 6,335 | ||||||||||
| Net charge-offs (recoveries) | 11,354 | 13,754 | 7,449 | 7,098 | 9,048 | ||||||||||
| Ending balance | $ | 406,755 | $ | 401,558 | $ | 392,362 | $ | 377,181 | $ | 381,507 | |||||
| Allowance for loan losses | $ | 354,682 | $ | 348,141 | $ | 345,294 | $ | 341,567 | $ | 345,555 | |||||
| Allowance for unfunded commitments | 52,004 | 53,342 | 46,994 | 35,548 | 35,883 | ||||||||||
| Allowance for other credit losses | 69 | 75 | 74 | 66 | 69 | ||||||||||
| Total allowance for credit losses | $ | 406,755 | $ | 401,558 | $ | 392,362 | $ | 377,181 | $ | 381,507 | |||||
| Non-Performing Assets | |||||||||||||||
| Nonaccrual portfolio loans | $ | 81,969 | $ | 84,711 | $ | 77,257 | $ | 75,286 | $ | 86,229 | |||||
| Other real estate owned | 3,091 | 2,918 | 3,137 | 1,825 | 863 | ||||||||||
| Repossessed assets | 4 | 4 | 3 | 2 | — | ||||||||||
| Accruing loans delinquent 90 days or more | 8,230 | 8,492 | 9,325 | 8,415 | 14,930 | ||||||||||
| Non-performing portfolio assets | $ | 93,294 | $ | 96,125 | $ | 89,722 | $ | 85,528 | $ | 102,022 | |||||
| Serviced GNMA-guaranteed mortgage nonaccrual loans | 34,489 | 24,347 | 19,706 | 11,733 | 13,441 | ||||||||||
| Total non-performing assets | $ | 127,783 | $ | 120,472 | $ | 109,428 | $ | 97,261 | $ | 115,463 | |||||
| Asset Quality Ratios | |||||||||||||||
| Non-performing portfolio assets as a percent of total assets | 0.33 | % | 0.35 | % | 0.33 | % | 0.32 | % | 0.38 | % | |||||
| Total non-performing assets as a percent of total assets | 0.45 | % | 0.44 | % | 0.40 | % | 0.36 | % | 0.44 | % | |||||
| Net charge-offs as a percent of average loans (annualized) | 0.21 | % | 0.26 | % | 0.14 | % | 0.14 | % | 0.18 | % | |||||
| AMERIS BANCORP AND SUBSIDIARIES | |||||||||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |||||
| FINANCIAL TABLES | |||||||||||||||
| Loan Information | Table 5 | ||||||||||||||
| Mar | Dec | Sep | Jun | Mar | |||||||||||
| (dollars in thousands) | 2026 | 2025 | 2025 | 2025 | 2025 | ||||||||||
| Loans by Type | |||||||||||||||
| Commercial and industrial | $ | 3,400,837 | $ | 3,288,505 | $ | 3,299,269 | $ | 3,184,211 | $ | 3,075,971 | |||||
| Consumer | 166,652 | 180,010 | 202,688 | 209,990 | 213,902 | ||||||||||
| Mortgage warehouse | 1,232,103 | 1,150,782 | 1,083,941 | 1,092,475 | 891,412 | ||||||||||
| Municipal | 420,775 | 434,234 | 437,823 | 436,759 | 429,227 | ||||||||||
| Premium Finance | 1,365,018 | 1,306,267 | 1,358,259 | 1,294,293 | 1,176,309 | ||||||||||
| Real estate - construction and development | 1,564,242 | 1,469,250 | 1,411,178 | 1,485,842 | 1,842,431 | ||||||||||
| Real estate - commercial and farmland | 9,364,885 | 9,311,405 | 9,054,927 | 8,877,750 | 8,574,626 | ||||||||||
| Real estate - residential | 4,313,468 | 4,373,069 | 4,410,289 | 4,460,177 | 4,502,766 | ||||||||||
| Total loans | $ | 21,827,980 | $ | 21,513,522 | $ | 21,258,374 | $ | 21,041,497 | $ | 20,706,644 | |||||
| Loans by Risk Grade | |||||||||||||||
| Pass | $ | 21,598,675 | $ | 21,305,745 | $ | 21,058,458 | $ | 20,820,888 | $ | 20,468,496 | |||||
| Other assets especially mentioned | 49,359 | 39,709 | 37,236 | 66,677 | 73,783 | ||||||||||
| Substandard | 179,946 | 168,068 | 162,680 | 153,932 | 164,365 | ||||||||||
| Total loans | $ | 21,827,980 | $ | 21,513,522 | $ | 21,258,374 | $ | 21,041,497 | $ | 20,706,644 | |||||
| AMERIS BANCORP AND SUBSIDIARIES | |||||||||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |||||
| FINANCIAL TABLES | |||||||||||||||
| Average Balances | Table 6 | ||||||||||||||
| Three Months Ended | |||||||||||||||
| Mar | Dec | Sep | Jun | Mar | |||||||||||
| (dollars in thousands) | 2026 | 2025 | 2025 | 2025 | 2025 | ||||||||||
| Earning Assets | |||||||||||||||
| Interest-bearing deposits in banks | $ | 879,724 | $ | 884,149 | $ | 883,976 | $ | 951,851 | $ | 980,164 | |||||
| Debt securities - taxable | 2,532,669 | 2,432,934 | 2,282,470 | 2,117,596 | 1,998,226 | ||||||||||
| Debt securities - nontaxable | 45,241 | 45,237 | 44,823 | 41,299 | 41,391 | ||||||||||
| Loans held for sale | 616,530 | 758,588 | 706,679 | 730,770 | 565,531 | ||||||||||
| Loans | 21,590,793 | 21,278,859 | 21,038,350 | 20,928,825 | 20,620,777 | ||||||||||
| Total Earning Assets | $ | 25,664,957 | $ | 25,399,767 | $ | 24,956,298 | $ | 24,770,341 | $ | 24,206,089 | |||||
| Deposits | |||||||||||||||
| Noninterest-bearing deposits | $ | 6,547,843 | $ | 6,668,120 | $ | 6,849,129 | $ | 6,766,557 | $ | 6,522,784 | |||||
| NOW accounts | 4,195,369 | 4,052,397 | 3,900,999 | 3,939,802 | 3,988,458 | ||||||||||
| MMDA | 7,189,981 | 7,347,897 | 6,977,134 | 6,918,382 | 6,911,554 | ||||||||||
| Savings accounts | 760,258 | 754,439 | 756,383 | 766,331 | 767,148 | ||||||||||
| Retail CDs | 2,268,935 | 2,325,456 | 2,344,084 | 2,393,402 | 2,436,974 | ||||||||||
| Brokered CDs | 1,221,181 | 1,249,020 | 1,070,735 | 1,145,043 | 962,768 | ||||||||||
| Total Deposits | 22,183,567 | 22,397,329 | 21,898,464 | 21,929,517 | 21,589,686 | ||||||||||
| Non-Deposit Funding | |||||||||||||||
| Federal funds purchased and securities sold under agreements to repurchase | 1 | — | 1 | — | — | ||||||||||
| FHLB advances | 871,128 | 423,669 | 443,243 | 326,054 | 149,537 | ||||||||||
| Other borrowings | 9,899 | 9,920 | 169,994 | 193,492 | 193,494 | ||||||||||
| Subordinated deferrable interest debentures | 134,537 | 134,041 | 133,541 | 133,043 | 132,544 | ||||||||||
| Total Non-Deposit Funding | 1,015,565 | 567,630 | 746,779 | 652,589 | 475,575 | ||||||||||
| Total Funding | $ | 23,199,132 | $ | 22,964,959 | $ | 22,645,243 | $ | 22,582,106 | $ | 22,065,261 | |||||
| AMERIS BANCORP AND SUBSIDIARIES | |||||||||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |||||
| FINANCIAL TABLES | |||||||||||||||
| Interest Income and Interest Expense (TE) | Table 7 | ||||||||||||||
| Three Months Ended | |||||||||||||||
| Mar | Dec | Sep | Jun | Mar | |||||||||||
| (dollars in thousands) | 2026 | 2025 | 2025 | 2025 | 2025 | ||||||||||
| Interest Income | |||||||||||||||
| Interest-bearing deposits in banks | $ | 8,040 | $ | 8,922 | $ | 9,993 | $ | 10,715 | $ | 10,789 | |||||
| Debt securities - taxable | 25,474 | 24,886 | 23,253 | 20,696 | 18,492 | ||||||||||
| Debt securities - nontaxable (TE) | 473 | 535 | 434 | 423 | 416 | ||||||||||
| Loans held for sale | 9,000 | 11,233 | 11,237 | 11,578 | 9,045 | ||||||||||
| Loans (TE) | 309,732 | 313,467 | 311,082 | 305,154 | 295,964 | ||||||||||
| Total Earning Assets | $ | 352,719 | $ | 359,043 | $ | 355,999 | $ | 348,566 | $ | 334,706 | |||||
| Interest Expense | |||||||||||||||
| Interest-Bearing Deposits | |||||||||||||||
| NOW accounts | $ | 18,106 | $ | 18,508 | $ | 18,230 | $ | 18,144 | $ | 18,306 | |||||
| MMDA | 46,737 | 52,455 | 54,657 | 53,469 | 52,261 | ||||||||||
| Savings accounts | 679 | 734 | 813 | 826 | 830 | ||||||||||
| Retail CDs | 18,958 | 20,567 | 21,253 | 21,852 | 23,245 | ||||||||||
| Brokered CDs | 11,747 | 13,050 | 11,898 | 12,505 | 10,573 | ||||||||||
| Total Interest-Bearing Deposits | 96,227 | 105,314 | 106,851 | 106,796 | 105,215 | ||||||||||
| Non-Deposit Funding | |||||||||||||||
| FHLB advances | 8,179 | 4,347 | 4,863 | 3,508 | 1,362 | ||||||||||
| Other borrowings | 159 | 169 | 2,328 | 2,499 | 2,350 | ||||||||||
| Subordinated deferrable interest debentures | 2,770 | 2,926 | 3,040 | 3,022 | 3,012 | ||||||||||
| Total Non-Deposit Funding | 11,108 | 7,442 | 10,231 | 9,029 | 6,724 | ||||||||||
| Total Interest-Bearing Funding | $ | 107,335 | $ | 112,756 | $ | 117,082 | $ | 115,825 | $ | 111,939 | |||||
| Net Interest Income (TE) | $ | 245,384 | $ | 246,287 | $ | 238,917 | $ | 232,741 | $ | 222,767 | |||||
| AMERIS BANCORP AND SUBSIDIARIES | |||||||||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |||||
| FINANCIAL TABLES | |||||||||||||||
| Yields(1) | Table 8 | ||||||||||||||
| Three Months Ended | |||||||||||||||
| Mar | Dec | Sep | Jun | Mar | |||||||||||
| 2026 | 2025 | 2025 | 2025 | 2025 | |||||||||||
| Earning Assets | |||||||||||||||
| Interest-bearing deposits in banks | 3.71 | % | 4.00 | % | 4.48 | % | 4.52 | % | 4.46 | % | |||||
| Debt securities - taxable | 4.08 | % | 4.06 | % | 4.04 | % | 3.92 | % | 3.75 | % | |||||
| Debt securities - nontaxable (TE) | 4.24 | % | 4.69 | % | 3.84 | % | 4.11 | % | 4.08 | % | |||||
| Loans held for sale | 5.92 | % | 5.87 | % | 6.31 | % | 6.35 | % | 6.49 | % | |||||
| Loans (TE) | 5.82 | % | 5.84 | % | 5.87 | % | 5.85 | % | 5.82 | % | |||||
| Total Earning Assets | 5.57 | % | 5.61 | % | 5.66 | % | 5.64 | % | 5.61 | % | |||||
| Interest-Bearing Deposits | |||||||||||||||
| NOW accounts | 1.75 | % | 1.81 | % | 1.85 | % | 1.85 | % | 1.86 | % | |||||
| MMDA | 2.64 | % | 2.83 | % | 3.11 | % | 3.10 | % | 3.07 | % | |||||
| Savings accounts | 0.36 | % | 0.39 | % | 0.43 | % | 0.43 | % | 0.44 | % | |||||
| Retail CDs | 3.39 | % | 3.51 | % | 3.60 | % | 3.66 | % | 3.87 | % | |||||
| Brokered CDs | 3.90 | % | 4.15 | % | 4.41 | % | 4.38 | % | 4.45 | % | |||||
| Total Interest-Bearing Deposits | 2.50 | % | 2.66 | % | 2.82 | % | 2.83 | % | 2.83 | % | |||||
| Non-Deposit Funding | |||||||||||||||
| Federal funds purchased and securities sold under agreements to repurchase | — | % | — | % | — | % | — | % | — | % | |||||
| FHLB advances | 3.81 | % | 4.07 | % | 4.35 | % | 4.32 | % | 3.69 | % | |||||
| Other borrowings | 6.51 | % | 6.76 | % | 5.43 | % | 5.18 | % | 4.93 | % | |||||
| Subordinated deferrable interest debentures | 8.35 | % | 8.66 | % | 9.03 | % | 9.11 | % | 9.22 | % | |||||
| Total Non-Deposit Funding | 4.44 | % | 5.20 | % | 5.44 | % | 5.55 | % | 5.73 | % | |||||
| Total Interest-Bearing Liabilities | 2.61 | % | 2.74 | % | 2.94 | % | 2.94 | % | 2.92 | % | |||||
| Net Interest Spread | 2.96 | % | 2.87 | % | 2.72 | % | 2.70 | % | 2.69 | % | |||||
| Net Interest Margin(2) | 3.88 | % | 3.85 | % | 3.80 | % | 3.77 | % | 3.73 | % | |||||
| Total Cost of Funds(3) | 1.88 | % | 1.95 | % | 2.05 | % | 2.06 | % | 2.06 | % | |||||
| (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 | |||||||||||||||
| Mar | Dec | Sep | Jun | Mar | |||||||||||
| (dollars in thousands except per share data) | 2026 | 2025 | 2025 | 2025 | 2025 | ||||||||||
| Net income available to common shareholders | $ | 110,492 | $ | 108,356 | $ | 106,029 | $ | 109,834 | $ | 87,935 | |||||
| Adjustment items: | |||||||||||||||
| Loss (gain) on sale of MSR | — | 1,127 | (125) | (356) | 14 | ||||||||||
| Gain on securities | — | (12) | (1,581) | — | (40) | ||||||||||
| Servicing right impairment (recovery) | — | 910 | — | — | — | ||||||||||
| Gain on BOLI proceeds | — | (220) | (390) | — | (11) | ||||||||||
| FDIC special assessment | — | (1,136) | (318) | (138) | 138 | ||||||||||
| Tax effect of adjustment items (Note 1) | — | (187) | 425 | 104 | (24) | ||||||||||
| After tax adjustment items | — | 482 | (1,989) | (390) | 77 | ||||||||||
| Adjusted net income | $ | 110,492 | $ | 108,838 | $ | 104,040 | $ | 109,444 | $ | 88,012 | |||||
| Weighted average number of shares - diluted | 67,766,997 | 68,328,365 | 68,665,669 | 68,796,577 | 69,030,331 | ||||||||||
| Net income per diluted share | $ | 1.63 | $ | 1.59 | $ | 1.54 | $ | 1.60 | $ | 1.27 | |||||
| Adjusted net income per diluted share | $ | 1.63 | $ | 1.59 | $ | 1.52 | $ | 1.59 | $ | 1.27 | |||||
| Average assets | $ | 27,672,313 | $ | 27,394,953 | $ | 26,972,134 | $ | 26,757,322 | $ | 26,229,423 | |||||
| Return on average assets | 1.62 | % | 1.57 | % | 1.56 | % | 1.65 | % | 1.36 | % | |||||
| Adjusted return on average assets | 1.62 | % | 1.58 | % | 1.53 | % | 1.64 | % | 1.36 | % | |||||
| Average common equity | $ | 4,107,670 | $ | 4,044,338 | $ | 3,964,207 | $ | 3,865,031 | $ | 3,798,149 | |||||
| Average tangible common equity | $ | 3,039,019 | $ | 2,971,985 | $ | 2,887,961 | $ | 2,784,819 | $ | 2,713,847 | |||||
| Return on average common equity | 10.91 | % | 10.63 | % | 10.61 | % | 11.40 | % | 9.39 | % | |||||
| Return on average tangible common equity | 14.75 | % | 14.46 | % | 14.57 | % | 15.82 | % | 13.14 | % | |||||
| Adjusted return on average tangible common equity | 14.75 | % | 14.53 | % | 14.29 | % | 15.76 | % | 13.15 | % | |||||
| Note 1: Tax effect is calculated utilizing a 21% rate for taxable adjustments. Gain on BOLI proceeds is non-taxable and no tax effect is included. | |||||||||||||||
| AMERIS BANCORP AND SUBSIDIARIES | |||||||||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| FINANCIAL TABLES | |||||||||||||||
| Non-GAAP Reconciliations (continued) | |||||||||||||||
| Adjusted Efficiency Ratio | Table 9B | ||||||||||||||
| Three Months Ended | |||||||||||||||
| Mar | Dec | Sep | Jun | Mar | |||||||||||
| (dollars in thousands) | 2026 | 2025 | 2025 | 2025 | 2025 | ||||||||||
| Adjusted Noninterest Expense | |||||||||||||||
| Total noninterest expense | $ | 157,080 | $ | 143,090 | $ | 154,566 | $ | 155,260 | $ | 151,034 | |||||
| Adjustment items: | |||||||||||||||
| FDIC special assessment | — | 1,136 | 318 | 138 | (138) | ||||||||||
| Adjusted noninterest expense | $ | 157,080 | $ | 144,226 | $ | 154,884 | $ | 155,398 | $ | 150,896 | |||||
| Adjusted Total Revenue | |||||||||||||||
| Net interest income | $ | 244,436 | $ | 245,307 | $ | 237,964 | $ | 231,813 | $ | 221,839 | |||||
| Noninterest income | 69,920 | 61,827 | 76,274 | 68,911 | 64,023 | ||||||||||
| Total revenue | 314,356 | 307,134 | 314,238 | 300,724 | 285,862 | ||||||||||
| Adjustment items: | |||||||||||||||
| Gain on securities | — | (12) | (1,581) | — | (40) | ||||||||||
| (Gain)/loss on sale of MSR | — | 1,127 | (125) | (356) | 14 | ||||||||||
| Gain on BOLI proceeds | — | (220) | (390) | — | (11) | ||||||||||
| Servicing right impairment (recovery) | — | 910 | — | — | — | ||||||||||
| Adjusted total revenue | $ | 314,356 | $ | 308,939 | $ | 312,142 | $ | 300,368 | $ | 285,825 | |||||
| Efficiency ratio | 49.97 | % | 46.59 | % | 49.19 | % | 51.63 | % | 52.83 | % | |||||
| Adjusted efficiency ratio | 49.97 | % | 46.68 | % | 49.62 | % | 51.74 | % | 52.79 | % | |||||
| Tangible Book Value Per Share | Table 9C | ||||||||||||||
| Three Months Ended | |||||||||||||||
| Mar | Dec | Sep | Jun | Mar | |||||||||||
| (dollars in thousands except per share data) | 2026 | 2025 | 2025 | 2025 | 2025 | ||||||||||
| Total shareholders' equity | $ | 4,082,127 | $ | 4,076,028 | $ | 4,016,701 | $ | 3,917,678 | $ | 3,823,802 | |||||
| Less: | |||||||||||||||
| Goodwill | 1,015,646 | 1,015,646 | 1,015,646 | 1,015,646 | 1,015,646 | ||||||||||
| Other intangibles, net | 51,430 | 54,824 | 58,703 | 62,582 | 66,658 | ||||||||||
| Total tangible shareholders' equity | $ | 3,015,051 | $ | 3,005,558 | $ | 2,942,352 | $ | 2,839,450 | $ | 2,741,498 | |||||
| Period end number of shares | 67,320,298 | 68,022,316 | 68,587,742 | 68,711,043 | 68,910,924 | ||||||||||
| Book value per share (period end) | $ | 60.64 | $ | 59.92 | $ | 58.56 | $ | 57.02 | $ | 55.49 | |||||
| Tangible book value per share (period end) | $ | 44.79 | $ | 44.18 | $ | 42.90 | $ | 41.32 | $ | 39.78 | |||||
| AMERIS BANCORP AND SUBSIDIARIES | |||||||||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| FINANCIAL TABLES | |||||||||||||||
| Non-GAAP Reconciliations (continued) | |||||||||||||||
| Tangible Common Equity to Tangible Assets ("TCE Ratio") | Table 9D | ||||||||||||||
| Mar | Dec | Sep | Jun | Mar | |||||||||||
| (dollars in thousands except per share data) | 2026 | 2025 | 2025 | 2025 | 2025 | ||||||||||
| Total shareholders' equity | $ | 4,082,127 | $ | 4,076,028 | $ | 4,016,701 | $ | 3,917,678 | $ | 3,823,802 | |||||
| Less: | |||||||||||||||
| Goodwill | 1,015,646 | 1,015,646 | 1,015,646 | 1,015,646 | 1,015,646 | ||||||||||
| Other intangibles, net | 51,430 | 54,824 | 58,703 | 62,582 | 66,658 | ||||||||||
| Total tangible shareholders' equity | $ | 3,015,051 | $ | 3,005,558 | $ | 2,942,352 | $ | 2,839,450 | $ | 2,741,498 | |||||
| Total assets | $ | 28,109,935 | $ | 27,515,879 | $ | 27,099,829 | $ | 26,680,153 | $ | 26,514,940 | |||||
| Less: | |||||||||||||||
| Goodwill | 1,015,646 | 1,015,646 | 1,015,646 | 1,015,646 | 1,015,646 | ||||||||||
| Other intangibles, net | 51,430 | 54,824 | 58,703 | 62,582 | 66,658 | ||||||||||
| Total tangible assets | $ | 27,042,859 | $ | 26,445,409 | $ | 26,025,480 | $ | 25,601,925 | $ | 25,432,636 | |||||
| Equity to Assets | 14.52 | % | 14.81 | % | 14.82 | % | 14.68 | % | 14.42 | % | |||||
| Tangible Common Equity to Tangible Assets | 11.15 | % | 11.37 | % | 11.31 | % | 11.09 | % | 10.78 | % | |||||
| AMERIS BANCORP AND SUBSIDIARIES | |||||||||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |||||
| FINANCIAL TABLES | |||||||||||||||
| Segment Reporting | Table 10 | ||||||||||||||
| Three Months Ended | |||||||||||||||
| Mar | Dec | Sep | Jun | Mar | |||||||||||
| (dollars in thousands) | 2026 | 2025 | 2025 | 2025 | 2025 | ||||||||||
| Retail Mortgage Division | |||||||||||||||
| Net interest income | $ | 16,828 | $ | 19,312 | $ | 20,179 | $ | 22,031 | $ | 21,844 | |||||
| Provision for credit losses | 3,074 | (3,142) | 529 | 1,010 | 5,191 | ||||||||||
| Noninterest income | 36,316 | 30,056 | 40,081 | 37,726 | 34,729 | ||||||||||
| Noninterest expense | |||||||||||||||
| Salaries and employee benefits | 21,912 | 21,413 | 21,589 | 24,358 | 20,995 | ||||||||||
| Occupancy and equipment expenses | 649 | 754 | 760 | 811 | 829 | ||||||||||
| Data processing and telecommunications expenses | 1,224 | 1,315 | 1,232 | 1,391 | 1,297 | ||||||||||
| Other noninterest expenses | 12,532 | 11,547 | 12,480 | 12,496 | 11,963 | ||||||||||
| Total noninterest expense | 36,317 | 35,029 | 36,061 | 39,056 | 35,084 | ||||||||||
| Income before income tax expense | 13,753 | 17,481 | 23,670 | 19,691 | 16,298 | ||||||||||
| Income tax expense | 2,888 | 3,671 | 4,970 | 4,135 | 3,423 | ||||||||||
| Net income | $ | 10,865 | $ | 13,810 | $ | 18,700 | $ | 15,556 | $ | 12,875 | |||||
| Warehouse Lending Division | |||||||||||||||
| Net interest income | $ | 7,594 | $ | 7,430 | $ | 7,474 | $ | 7,091 | $ | 5,902 | |||||
| Provision for credit losses | 177 | 129 | 23 | 369 | (175) | ||||||||||
| Noninterest income | 796 | 736 | 756 | 1,893 | 554 | ||||||||||
| Noninterest expense | |||||||||||||||
| Salaries and employee benefits | 544 | 556 | 566 | 618 | 552 | ||||||||||
| Occupancy and equipment expenses | 8 | 7 | 7 | 7 | 7 | ||||||||||
| Data processing and telecommunications expenses | 35 | 54 | 57 | 59 | 38 | ||||||||||
| Other noninterest expenses | 179 | 195 | 195 | 96 | 270 | ||||||||||
| Total noninterest expense | 766 | 812 | 825 | 780 | 867 | ||||||||||
| Income before income tax expense | 7,447 | 7,225 | 7,382 | 7,835 | 5,764 | ||||||||||
| Income tax expense | 1,564 | 1,517 | 1,550 | 1,646 | 1,210 | ||||||||||
| Net income | $ | 5,883 | $ | 5,708 | $ | 5,832 | $ | 6,189 | $ | 4,554 | |||||
| Premium Finance Division | |||||||||||||||
| Net interest income | $ | 11,647 | $ | 11,802 | $ | 12,251 | $ | 11,190 | $ | 9,880 | |||||
| Provision for credit losses | 1,447 | 926 | 461 | 716 | 456 | ||||||||||
| Noninterest income | 17 | 17 | 18 | 17 | 16 | ||||||||||
| Noninterest expense | |||||||||||||||
| Salaries and employee benefits | 2,664 | 2,446 | 2,492 | 2,331 | 2,352 | ||||||||||
| Occupancy and equipment expenses | 38 | 37 | 39 | 36 | 37 | ||||||||||
| Data processing and telecommunications expenses | 186 | 106 | 101 | 91 | 129 | ||||||||||
| Other noninterest expenses | 687 | 1,240 | 1,075 | 1,115 | 969 | ||||||||||
| Total noninterest expense | 3,575 | 3,829 | 3,707 | 3,573 | 3,487 | ||||||||||
| Income before income tax expense | 6,642 | 7,064 | 8,101 | 6,918 | 5,953 | ||||||||||
| Income tax expense | 1,384 | 1,450 | 1,669 | 1,410 | 1,214 | ||||||||||
| Net income | $ | 5,258 | $ | 5,614 | $ | 6,432 | $ | 5,508 | $ | 4,739 | |||||
| AMERIS BANCORP AND SUBSIDIARIES | |||||||||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |||||
| FINANCIAL TABLES | |||||||||||||||
| Segment Reporting (continued) | Table 10 | ||||||||||||||
| Three Months Ended | |||||||||||||||
| Mar | Dec | Sep | Jun | Mar | |||||||||||
| (dollars in thousands) | 2026 | 2025 | 2025 | 2025 | 2025 | ||||||||||
| Banking Division | |||||||||||||||
| Net interest income | $ | 208,367 | $ | 206,763 | $ | 198,060 | $ | 191,501 | $ | 184,213 | |||||
| Provision for credit losses | 11,853 | 25,037 | 21,617 | 677 | 16,420 | ||||||||||
| Noninterest income | 32,791 | 31,018 | 35,419 | 29,275 | 28,724 | ||||||||||
| Noninterest expense | |||||||||||||||
| Salaries and employee benefits | 66,246 | 57,582 | 66,301 | 62,001 | 62,716 | ||||||||||
| Occupancy and equipment expenses | 10,930 | 10,523 | 10,718 | 10,547 | 9,804 | ||||||||||
| Data processing and telecommunications expenses | 15,348 | 14,761 | 14,668 | 13,825 | 13,391 | ||||||||||
| Other noninterest expenses | 23,898 | 20,554 | 22,286 | 25,478 | 25,685 | ||||||||||
| Total noninterest expense | 116,422 | 103,420 | 113,973 | 111,851 | 111,596 | ||||||||||
| Income before income tax expense | 112,883 | 109,324 | 97,889 | 108,248 | 84,921 | ||||||||||
| Income tax expense | 24,397 | 26,100 | 22,824 | 25,667 | 19,154 | ||||||||||
| Net income | $ | 88,486 | $ | 83,224 | $ | 75,065 | $ | 82,581 | $ | 65,767 | |||||
| Total Consolidated | |||||||||||||||
| Net interest income | $ | 244,436 | $ | 245,307 | $ | 237,964 | $ | 231,813 | $ | 221,839 | |||||
| Provision for credit losses | 16,551 | 22,950 | 22,630 | 2,772 | 21,892 | ||||||||||
| Noninterest income | 69,920 | 61,827 | 76,274 | 68,911 | 64,023 | ||||||||||
| Noninterest expense | |||||||||||||||
| Salaries and employee benefits | 91,366 | 81,997 | 90,948 | 89,308 | 86,615 | ||||||||||
| Occupancy and equipment expenses | 11,625 | 11,321 | 11,524 | 11,401 | 10,677 | ||||||||||
| Data processing and telecommunications expenses | 16,793 | 16,236 | 16,058 | 15,366 | 14,855 | ||||||||||
| Other noninterest expenses | 37,296 | 33,536 | 36,036 | 39,185 | 38,887 | ||||||||||
| Total noninterest expense | 157,080 | 143,090 | 154,566 | 155,260 | 151,034 | ||||||||||
| Income before income tax expense | 140,725 | 141,094 | 137,042 | 142,692 | 112,936 | ||||||||||
| Income tax expense | 30,233 | 32,738 | 31,013 | 32,858 | 25,001 | ||||||||||
| Net income | $ | 110,492 | $ | 108,356 | $ | 106,029 | $ | 109,834 | $ | 87,935 |
a1q26earningspresentatio
1st Quarter 2026 Results Investor Presentation
Cautionary Statements 1 This presentation contains forward-looking statements, as defined by federal securities laws, including, among other forward- looking statements, certain plans, expectations and goals. Words such as “may,” “believe,” “expect,” “anticipate,” “intend,” “will,” “should,” “plan,” “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 management’s opinions only as of the date hereof 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 and payment behaviors of borrowers, collateral values, asset recovery values and the value of investment securities; movements in interest rates and their impacts on net interest margin, investment security valuations and other performance measures; expectations and assumptions regarding credit quality and performance; legislative and regulatory changes; changes in U.S. government trade, monetary and fiscal policies, including tariffs; competitive pressures on product pricing and services; fraud, theft or other misconduct impacting our customers or operations; cybersecurity risks, including data breaches, malware, ransomware and account takeovers; the success and timing of our business strategies and plans; 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, 2025, and the Company’s subsequently filed periodic reports and other filings. Forward-looking statements speak only as of the date they are made, and, except as required by law, the Company undertakes no obligation to update or revise forward-looking statements except as required by law.
Ameris Profile Investment Rationale • Top of peer financial results with culture of discipline – credit, liquidity, expense control, capital • Diversified and granular loan portfolio among geographies and product lines • Stable deposit base with 29.8% noninterest-bearing deposits • Experienced executive team with skills and leadership to continue to grow organically • Focus on shareholder value with 12% annualized tangible book value growth over the last five years Strong History of Earnings 2 Growth Focused $24.5 $24.6 $25.1 $25.5 $26.1 $39.78 $41.32 $42.90 $44.18 $44.79 $23.0 $23.5 $24.0 $24.5 $25.0 $25.5 $26.0 $26.5 $38.00 $40.00 $42.00 $44.00 $46.00 $48.00 1Q25 2Q25 3Q25 4Q25 1Q26 Earning Assets (Billions) Tangible Book Value per Share $1.27 $1.60 $1.54 $1.59 $1.63 1.36% 1.65% 1.56% 1.57% 1.62% 1.00% 1.20% 1.40% 1.60% 1.80% 2.00% $- $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 $1.40 $1.60 $1.80 1Q25 2Q25 3Q25 4Q25 1Q26 Diluted EPS ROA
Southeast Scarcity Value 3 1 – Census data obtained from S&P Global Market Intelligence 2 – Historical and projected population change from S&P Capital and Claritas Grey areas represent MSAs in the top 25% of projected population growth where Ameris has branches. (2) Top Southeast Market Share • Scarcity value in strong Southeast markets projected to grow faster than the national average(1) • #1 deposit market share in Atlanta for banks under $50 billion in assets • #2 deposit market share in Jacksonville for banks under $50 billion in assets • #1 deposit market share in Savannah for banks under $50 billion in assets • Increasing deposit market share by 1% in Atlanta, Jacksonville and Savannah (our top three markets) would be $3.7 billion of additional deposits Population Growth in Our Markets Outpaces National Average Deposit market share according to the FDIC's Summary of Deposits as of June 30, 2025.
50.0% Efficiency Ratio 1.9x National Growth Markets(3) 1.62% Allowance for Credit Losses 13.0% CET1 Ratio(2) 12% 5-yr TBV(1) CAGR 14.7% ROTCE(1) 22% Fees to Revenue Disciplined and Focused Mgmt Team 11.2% TCE/TA Ratio(1) 29.8% NIB Deposits 3.88% Net Interest Margin 1.62% ROA 1 – Considered Non-GAAP measures – See reconciliation of GAAP to Non-GAAP measures in Appendix 2 – Regulatory capital ratios are estimated for most recent period end 3 – Ameris Southeast Markets projected to grow approximately 1.9x the national average over the next five years per census data obtained from S&P Global Market Intelligence4 Why Ameris? Leading Industry Performance
25.27 26.45 27.46 26.26 26.84 27.89 28.62 29.92 30.79 31.42 32.38 33.64 34.52 35.79 37.51 38.59 39.78 41.32 42.90 44.18 44.79 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 $40.00 $45.00 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 Tangible Book Value/Share Delivering Shareholder Value Tangible Book Value Growth 5 • Management remains laser focused on growing shareholder value • Over the past five years, TBV(1) has grown by 12% annualized • TBV grew 5.6% annualized in the first quarter of 2026 (or 10.0% annualized excluding impact from share repurchases) • TBV(1) increased $0.61 per share in 1Q26: • $1.43 from retained earnings • ($0.48) from share repurchases • ($0.14) from impact of AOCI • ($0.20) from all other 1 – Considered Non-GAAP measures – See reconciliation of GAAP to Non-GAAP measures in Appendix
1 – 1Q26 growth percentages are compared to prior year period; net charge offs are annualized 2 – Considered Non-GAAP measures – See reconciliation of GAAP to Non-GAAP measures in Appendix 3 – Regulatory capital ratios are estimated for most recent period end 6 History of Consistent Performance 5 Year Performance Metrics 2021-2025 (5 Year) 2021 2022 2023 2024 2025 Average 1Q26 (1) ROA 1.73% 1.47% 1.06% 1.38% 1.54% 1.43% 1.62% ROTCE(2) 20.6% 17.8% 12.2% 14.4% 14.5% 15.9% 14.7% Net Interest Margin 3.32% 3.76% 3.61% 3.56% 3.79% 3.61% 3.88% Net Interest Income Growth 2.8% 22.2% 4.2% 1.7% 10.3% 8.3% 10.2% Efficiency Ratio 54.9% 51.7% 53.7% 53.2% 50.0% 52.7% 50.0% Fees/Revenue 35.8% 26.2% 22.5% 25.7% 22.4% 26.5% 22.2% NIB Deposits/Total Deposits 39.5% 40.7% 31.3% 29.9% 28.7% 34.1% 29.8% CET1 Ratio(3) 10.5% 9.9% 11.2% 12.7% 13.2% 11.5% 13.0% TCE Ratio(2) 8.0% 8.7% 9.6% 10.6% 11.4% 9.7% 11.2% CRE Concentration 291% 292% 282% 268% 262% 279% 265% Allowance for Credit Losses/Total Loans 1.06% 1.04% 1.52% 1.63% 1.62% 1.37% 1.62% Net Charge Offs/Total Loans 0.04% 0.08% 0.25% 0.19% 0.18% 0.15% 0.21%
1Q 2026 Operating Highlights 7 • Net income of $110.5 million, or $1.63 per diluted share • Return on average assets ("ROA") of 1.62% • Return on average tangible common equity(1) of 14.75% • Revenue growth of 9.5% annualized in the first quarter • Net interest margin (TE) expansion of 3bps to 3.88% for the first quarter of 2026 • Growth in earning assets of $607.8 million, or 9.7% annualized • Loan growth of $314.5 million, or 5.9% annualized • Deposit growth of $260.7 million, or 4.7% annualized • Efficiency ratio of 49.97%, an improvement from 52.83% for the first quarter of 2025 • Noninterest-bearing deposit mix improved to 29.8% of total deposits • Tangible book value(1) growth of $0.61 per share, or 5.6% annualized, to $44.79 • Share repurchases totaled $74.9 million (950,400 shares at an average price of $78.76 per share) 1 – Considered Non-GAAP measures – See reconciliation of GAAP to Non-GAAP measures in Appendix
Financial Highlights 8 1 – Considered Non-GAAP measures – See reconciliation of GAAP to Non-GAAP measures in Appendix (dollars in thousands, except per share data) 1Q26 4Q25 Change 1Q25 Change Net Income $110,492 $108,356 2% $ 87,935 26% Adjusted Net Income(1) $110,492 $108,848 2% $ 88,044 25% Net Income Per Diluted Share $ 1.63 $ 1.59 3% $ 1.27 28% Adjusted Net Income Per Share(1) $ 1.63 $ 1.59 3% $ 1.28 27% Return on Assets 1.62% 1.57% 3% 1.36% 19% Adjusted Return on Assets(1) 1.62% 1.58% 3% 1.36% 19% Return on Equity 10.91% 10.63% 3% 9.39% 16% Return on TCE(1) 14.75% 14.46% 2% 13.14% 12% Adjusted Return on TCE(1) 14.75% 14.53% 1% 13.16% 12% Efficiency Ratio 49.97% 46.59% 7% 52.83% -5% Adjusted Efficiency Ratio(1) 49.82% 46.54% 7% 52.62% -5% Net Interest Margin 3.88% 3.85% 1% 3.73% 4% Quarter to Date Results
Strong Net Interest Margin 9 • Net interest margin improved 3 bps to 3.88% in the first quarter of 2026 • Average earning assets increased 4.2% annualized • Net interest income (TE) down $903,000 in 1Q26 due to lower day count in the quarter • Interest income (TE) decreased $6.3 million • Interest expense decreased $5.4 million Spread Income and Margin Interest Rate Sensitivity • Asset sensitivity continues near neutrality in preparation for further potential FOMC rate changes: • -1.2% asset sensitivity in -100bps • -0.7% asset sensitivity in -50bps • +0.8% asset sensitivity in +50bps • +1.6% asset sensitivity in +100bps • Approximately $12.8 billion of total loans reprice within one year through either maturities or floating rate indices $222.8 $232.7 $238.9 $246.3 $245.4 3.73% 3.77% 3.80% 3.85% 3.88% 3.60% 3.65% 3.70% 3.75% 3.80% 3.85% 3.90% 3.95% 4.00% $200.0 $210.0 $220.0 $230.0 $240.0 $250.0 1Q25 2Q25 3Q25 4Q25 1Q26 Net Interest Income (TE) (in millions) NIM -0.03% 0.06% 3.85% 3.88% 3.75% 3.80% 3.85% 3.90% 4Q25 Margin Asset Yields Improvement in Funding Costs 1Q26 Margin 1Q26 Margin Attribution
Diversified Revenue Stream 10 • Strong revenue base of net interest income from core banking division and lines of business • Additional noninterest revenue provided by our diversified lines of business Noninterest Income • Noninterest income increased $8.1 million in the first quarter • Mortgage revenue increased $5.1 million • SBA gain on sale and servicing revenue increased $1.8 million • Equipment finance increased $652,000 • All Other Noninterest Income includes: • Service charges on deposit accounts • Fee income from equipment finance • Gain on sale of SBA loans • BOLI income Strong Revenue Stream 78% 77% 76% 80% 78% 12% 13% 13% 10% 12% 10% 10% 11% 10% 10% $286.8 $301.7 $315.2 $308.1 $315.3 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 1Q25 2Q25 3Q25 4Q25 1Q26 Revenue Sources (Tax-Equivalent) (in millions) Net Interest Income (TE) Mortgage Banking Activity All Other Noninterest Income Service Charges on Deposit Accounts 41% Equipment Finance Activity 28% BOLI Income 11% Other 20% All Other Noninterest Income
Disciplined Expense Control Noninterest Expense and Efficiency Ratio Expense Highlights 11 • Management continues to deliver high performing operating efficiency • Positive operating leverage allowed revenue to increase $28.5 million, or 10.0%, while expenses only increased $6.0 million, or 4.0%, when compared with 1Q25 • Efficiency ratio of 49.97% in 1Q26 • Improvement compared with 52.83% in 1Q25 and 55.64% in 1Q24 • Total expenses increased $14.0 million in 1Q26 compared with 4Q25: • Salaries and benefits increased $9.4 million • Payroll taxes and 401(k) increased $4.9 million • Incentives increased $4.3 million • Advertising and marketing increased $1.3 million • FDIC insurance expense increased $1.1 million • Donations increased $1.0 million $111.6 $111.9 $114.0 $103.4 $116.4 $39.4 $43.4 $40.6 $39.7 $40.7 20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0 180.0 1Q25 2Q25 3Q25 4Q25 1Q26 Noninterest Expenses (in millions) Banking LOBs 55.64% 51.68% 53.49% 52.26% 52.83% 51.63% 49.19% 46.59% 49.97% 40.00% 45.00% 50.00% 55.00% 60.00% 65.00% 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 Efficiency Ratio
Granular Core Deposit Base 12 Deposits by Product Type • Total deposits increased $260.7 million, or 4.7% annualized, during 1Q26 • Non-brokered, non-public fund deposits increased $546.8 million • Seasonal outflows of public funds totaled $430.0 million • Brokered CDs increased $143.9 million, and represent only 5.9% of total deposits • Noninterest-bearing deposits increased $322.8 million, improving our NIB to total deposit ratio to 29.8% • Granular deposit base with $46,193 average account size over 490,000 accounts 1Q26 Highlights Deposits by Customer Consumer 34% Commercial 44% Public 16% Brokered 6% 1Q26 Deposit Type Balance (in 000s) % of Total Count Average per account NIB 6,748,976$ 29.8% 315,481 21,393$ NOW 4,298,214 19.0% 41,365 103,909 Checking (NIB/NOW) 11,047,190 48.8% 356,846 30,958 MMDA 7,231,037 31.9% 33,223 217,652 Savings 767,928 3.4% 62,371 12,312 CD 3,590,585 15.9% 37,605 95,482 Total 22,636,740$ 100% 490,045 46,193$
Capital Strength 13 • TCE ratio of 11.2% and CET1 ratio of 13.0% are strong and above peer levels • Minimal impact from unrealized gains/losses, as the AFS bond portfolio has unrealized gains of $1.1 million • Earnings expected to add between 25 - 35 basis points to capital each quarter assuming flat balance sheet • As of March 31, 2026, capital components included only common equity and approximately $134.8 million of trust preferred debt • Board authorized $200 million share repurchase program in October 2025, of which $84.3 million remains as of March 31, 2026 • Repurchased $74.9 million of common shares during 1Q26 compared with $77.1 million for the full year 2025 • Repurchases represented approximately 1.4% of shares outstanding in 1Q26 and 1.7% for full year 2025. Capital ratios are estimated for most recent period end Strong Capital Base 11.0% 11.1% 11.4% 11.4% 11.4% 12.9% 13.0% 13.2% 13.2% 13.0% 15.6% 15.4% 15.1% 15.0% 14.8% 1Q25 2Q25 3Q25 4Q25 1Q26 Leverage Ratio CET1/Tier 1 Capital Ratio Total Capital Ratio Capital Highlights
Loan Diversification and Credit Quality
Agriculture 1% C&I 27% Municipal 2% Consumer 1% Investor CRE 24% OO CRE 8% Construction 7% Multi-Family 10% HELOC 2% SFR Mortgage 18% $21.8 Billion Diversified Loan Portfolio 1Q26 Loan Portfolio 15 • Loan portfolio is well diversified across loan types and geographies and managed by a seasoned credit staff • Asset quality metrics remain stable • CRE and C&D concentrations were 265% and 46%, respectively, compared with 262% and 43%, respectively, at 4Q25 • Allowance for Credit Losses (ACL) on loans is 1.62% of total loans • Limited exposure to non-mortgage consumer loans and HELOCs • Exposure to non-mortgage NDFI is less than 1% of loans and all loans are current and pass graded Portfolio Highlights
Loan Balance Changes 1Q26 Loan Balance Changes 16 • Loan balances increased $314 million, or 5.9% annualized, during 1Q26 • 1Q26 production remained strong at $2.2 billion, building upon the seasonally strong $2.4 billion in 4Q25 • Represents a 45% increase from $1.5 billion in 1Q25 • C&I growth was spread among premium finance, mortgage warehouse, traditional C&I, and equipment finance reflecting the diversification in our C&I portfolio (in millions) Growth Highlights $249 $95 $28 $16 $13 $(27) $(60) $(100) $(50) $- $50 $100 $150 $200 $250 $300 C&I Construction Multi-Family OO CRE Investor CRE Other RE - RES
Allowance for Credit Losses 17 • The ACL on loans totaled $354.7 million, or 1.62%, at 1Q26 • During 1Q26, the Company recorded provision expense of $16.6 million • The March economic forecasts used in the ACL model weighted the baseline scenario at 40% and S2 adverse scenario at 60% 1Q26 CECL Reserve Reserve Summary (in millions) (dollars in millions) 1.55% 1.60% 1.60% 1.63% 1.67% 1.62% 1.62% 1.62% 1.62% 1.00% 1.20% 1.40% 1.60% 1.80% 2.00% $150 $175 $200 $225 $250 $275 $300 $325 $350 $375 $400 $425 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 ACL - Loans ACL - Unfunded Commitments ACL on Loans / Total Loans 1Q26 Allowance Coverage Outstanding Balance ACL ACL % Gross Loans $21,828.0 $354.7 1.62% Unfunded Commitments $4,788.6 $52.0 1.09%
NPA / Charge-Off Trend 18 • The increase in NPAs in 1Q26 is attributable to serviced GNMA mortgages and other government guaranteed mortgages, which represent 43.0% of all NPAs • Excluding GNMA mortgages, NPAs declined $2.8 million or 2.9% • Net charge-offs totaled $11.4 million, or 0.21% annualized, in 1Q26 Credit Summary ($ in millions) 0.44% 0.36% 0.40% 0.44% 0.45% 0.38% 0.32% 0.33% 0.35% 0.33% 0.25% 0.30% 0.35% 0.40% 0.45% 0.50% 1Q25 2Q25 3Q25 4Q25 1Q26 Non-Performing Assets NPA / Total Assets NPA x GNMA / Total Assets 0.18% 0.14% 0.14% 0.26% 0.21% $0.0 $2.0 $4.0 $6.0 $8.0 $10.0 $12.0 $14.0 $16.0 0.00% 0.05% 0.10% 0.15% 0.20% 0.25% 0.30% 1Q25 2Q25 3Q25 4Q25 1Q26 Net Charge-Offs Net Charge-offs NCO Ratio (Annualized)
Problem Loan Trends 19 • Total criticized loans (including special mention), excluding GNMA- guaranteed mortgage loans, increased $11.4 million, or 6.2%, in 1Q26 • Classified loans, excluding GNMA-guaranteed mortgage loans, increased approximately $1.7 million, or 1.2%, in 1Q26 • Nonperforming loans, excluding GNMA-guaranteed mortgage loans, decreased $3.0 million, or 3.2%, in 1Q26 • The largest component of classified and nonperforming loans at 1Q26 was residential mortgages including government-guaranteed mortgages Highlights (in millions) Note: Criticized, Classified and Nonperforming loan totals exclude GNMA-guaranteed loans. Ratios expressed as a percentage of total loans net of GNMA-backed mortgage loans. 1.09% 0.99% 0.85% 0.85% 0.89% 0.73% 0.68% 0.67% 0.67% 0.67% 0.49% 0.40% 0.41% 0.43% 0.41% $0 $50 $100 $150 $200 $250 1Q25 2Q25 3Q25 4Q25 1Q26 Criticized Loans Classified Loans Nonperforming Loans Criticized ACL Coverage 182% Classified ACL Coverage 244% NPL ACL Coverage 393%
Term Investor CRE • 30-89 days past due investor CRE loans were 0.09% and NPLs were 0.01% at 1Q26 • Reserve for term investor CRE is $106.6 million, or 1.44% • Investor CRE portfolio is well diversified with over 80% of CRE loans located in MSAs in Ameris’s footprint, which exhibit population growth forecasts exceeding the national average 20 Highlights (1) Results based on stabilized term loans, or 60% of total Investor CRE loans Investor CRE (dollars in Millions) Investor CRE 24% Multi 10% Multi-Family $2,097 Office $1,293 Retail - Anchored $1,334 Retail - Non Anchored $1,009 Warehouse / Industrial $1,045 Hotel $424 All Other CRE $396 Investor CRE by Property Type GA $2,494 FL $2,569 SC $1,001 NC $664 All Other $871 Investor CRE by Property Location Outstanding $7.39 B Unfunded $0.21 B Total Committed Exposure $7.6 B Average Loan Size $4.4 M Allowance Coverage 1.44% 30-89 DPD Ratio 0.09% NPL Ratio 0.01% Criticized Ratio 0.81% Criticized ACL Coverage 178% Average LTV (1) 57% Average DSC (1) 1.58
Construction $118 Investor CRE $1,231 Owner- Occupied $482 Total Office Portfolio by Loan Type Office Portfolio • There were no 30-89 days past due investor office loans and NPLs were 0.02% at 1Q26 • Our reserve for investor office is $42.6 million, or 3.16% 21 Highlights (1) Results based on stabilized term loans, or 86% of term office loans Investor Office (dollars in Millions) Class A 53% Medical 18% Class B 28% Class C 1% Investor Office Portfolio by Property Class Outstanding $1.35 B Unfunded $0.08 B Total Committed Exposure $1.43 B Average Loan Size $3.7 M Allowance Coverage 3.16% 30-89 DPD Ratio 0.00% NPL Ratio 0.02% Criticized Ratio 2.47% Criticized ACL Coverage 128% Average LTV (1) 58% Average DSC (1) 1.62 Class A & Medical (1) 71%
Appendix
23 Reconciliation of GAAP to Non-GAAP Measures (dollars in thousands) 1Q26 4Q25 1Q25 Net Income $ 110,492 $ 108,356 $ 87,935 Adjustment items Loss on sale of MSR - 1,127 14 Servicing right impairment - 910 - Gain on BOLI proceeds - (220) (11) FDIC special assessment - (1,136) 138 Tax effect of adjustment items - (189) (32) After tax adjustment items - 492 109 Adjusted Net Income $ 110,492 $ 108,848 $ 88,044 Weighted average number of shares - diluted 67,766,997 68,328,365 69,030,331 Net income per diluted share $ 1.63 $ 1.59 $ 1.27 Adjusted net income per diluted share $ 1.63 $ 1.59 $ 1.28 Average assets 27,672,313 27,394,953 26,229,423 Return on average assets 1.62% 1.57% 1.36% Adjusted return on average assets 1.62% 1.58% 1.36% Average common equity 4,107,670 4,044,338 3,798,149 Average tangible common equity 3,039,019 2,971,985 2,713,847 Return on average common equity 10.91% 10.63% 9.39% Return on average tangible common equity 14.75% 14.46% 13.14% Adjusted return on average tangible common equity 14.75% 14.53% 13.16% Quarter to Date
24 Reconciliation of GAAP to Non-GAAP Measures (dollars in thousands) 1Q26 4Q25 3Q25 2Q25 1Q25 Adjusted Noninterest Expense Total noninterest expense 157,080$ 143,090$ 154,566$ 155,260$ 151,034$ Adjustment items: FDIC special assessment - 1,136 318 138 (138) Adjusted noninterest expense 157,080$ 144,226$ 154,884$ 155,398$ 150,896$ Total Revenue Net interest income 244,436$ 245,307$ 237,964$ 231,813$ 221,839$ Noninterest income 69,920 61,827 76,274 68,911 64,023 Total revenue 314,356$ 307,134$ 314,238$ 300,724$ 285,862$ Adjusted Total Revenue Net interest income (TE) 245,384$ 246,287$ 238,917$ 232,741$ 222,767$ Noninterest income 69,920 61,827 76,274 68,911 64,023 Total revenue (TE) 315,304$ 308,114$ 315,191$ 301,652$ 286,790$ Adjustment items: (Gain) loss on securities - (12) (1,581) - (40) Gain on BOLI proceeds - (220) (390) - (11) (Gain) loss on sale of mortgage servicing rights - 1,127 (125) (356) 14 Servicing right impairment (recovery) - 910 - - - Adjusted total revenue (TE) 315,304$ 309,919$ 313,095$ 301,296$ 286,753$ Efficiency ratio 49.97% 46.59% 49.19% 51.63% 52.83% Adjusted efficiency ratio (TE) 49.82% 46.54% 49.47% 51.58% 52.62% Quarter to Date
25 Reconciliation of GAAP to Non-GAAP Measures (dollars in thousands) 1Q26 4Q25 3Q25 2Q25 1Q25 Total shareholders' equity 4,082,127$ 4,076,028$ 4,016,701$ 3,917,678$ 3,823,802$ Less: Goodwill 1,015,646 1,015,646 1,015,646 1,015,646 1,015,646 Other intangibles, net 51,430 54,824 58,703 62,582 66,658 Total tangible shareholders' equity 3,015,051$ 3,005,558$ 2,942,352$ 2,839,450$ 2,741,498$ Period end number of shares 67,320,298 68,022,316 68,587,742 68,711,043 68,910,924 Book value per share (period end) 60.64$ 59.92$ 58.56$ 57.02$ 55.49$ Tangible book value per share (period end) 44.79$ 44.18$ 42.90$ 41.32$ 39.78$ Total assets $ 28,109,935 $ 27,515,879 $ 27,099,829 $ 26,680,153 $ 26,514,940 Less: Goodwill 1,015,646 1,015,646 1,015,646 1,015,646 1,015,646 Other intangibles, net 51,430 54,824 58,703 62,582 66,658 Total tangible assets 27,042,859$ 26,445,409$ 26,025,480$ 25,601,925$ 25,432,636$ Equity to Assets 14.52% 14.81% 14.82% 14.68% 14.42% Tangible Common Equity to Tangible Assets 11.15% 11.37% 11.31% 11.09% 10.78% Quarter to Date
26 Reconciliation of GAAP to Non-GAAP Measures (dollars in thousands) 2021 2022 2023 2024 2025 Return on Tangible Common Equity Net Income 376,913$ 346,540$ 269,105$ 358,685$ 412,154$ Average common equity 2,827,669 3,083,081 3,313,361 3,583,390 3,918,733 Average tangible common equity 1,826,433 1,947,222 2,200,883 2,488,588 2,840,493 Return on average common equity 13.3% 11.2% 8.1% 10.0% 10.5% Return on average tangible common equity 20.6% 17.8% 12.2% 14.4% 14.5% (dollars in thousands) 2021 2022 2023 2024 2025 Total shareholders' equity 2,966,451$ 3,197,400$ 3,426,747$ 3,751,522$ 4,076,028$ Less: Goodwill 1,012,620 1,015,646 1,015,646 1,015,646 1,015,646 Other intangibles, net 125,938 106,194 87,949 70,761 54,824 Total tangible shareholders' equity 1,827,893$ 2,075,560$ 2,323,152$ 2,665,115$ 3,005,558$ Total assets $ 23,858,321 $ 25,053,286 $ 25,203,699 $ 26,262,050 $ 27,515,879 Less: Goodwill 1,012,620 1,015,646 1,015,646 1,015,646 1,015,646 Other intangibles, net 125,938 106,194 87,949 70,761 54,824 Total tangible assets 22,719,763$ 23,931,446$ 24,100,104$ 25,175,643$ 26,445,409$ Equity to Assets 12.4% 12.8% 13.6% 14.3% 14.8% Tangible Common Equity to Tangible Assets 8.0% 8.7% 9.6% 10.6% 11.4%
27 Reconciliation of GAAP to Non-GAAP Measures (dollars in thousands) 1Q26 4Q25 3Q25 2Q25 1Q25 4Q24 3Q24 2Q24 1Q24 4Q23 3Q23 Total shareholders' equity 4,082,127$ 4,076,028$ 4,016,701$ 3,917,678$ 3,823,802$ 3,751,522$ 3,681,368$ 3,566,614$ 3,484,738$ 3,426,747$ 3,347,069$ Less: Goodwill 1,015,646 1,015,646 1,015,646 1,015,646 1,015,646 1,015,646 1,015,646 1,015,646 1,015,646 1,015,646 1,015,646 Other intangibles, net 51,430 54,824 58,703 62,582 66,658 70,761 74,941 79,120 83,527 87,949 92,375 Total tangible shareholders' equity 3,015,051$ 3,005,558$ 2,942,352$ 2,839,450$ 2,741,498$ 2,665,115$ 2,590,781$ 2,471,848$ 2,385,565$ 2,323,152$ 2,239,048$ Period end number of shares 67,320,298 68,022,316 68,587,742 68,711,043 68,910,924 69,068,609 69,067,019 69,066,573 69,115,263 69,053,341 69,138,461 Book value per share (period end) 60.64$ 59.92$ 58.56$ 57.02$ 55.49$ 54.32$ 53.30$ 51.64$ 50.42$ 49.62$ 48.41$ Tangible book value per share (period end) 44.79$ 44.18$ 42.90$ 41.32$ 39.78$ 38.59$ 37.51$ 35.79$ 34.52$ 33.64$ 32.38$ 2Q23 1Q23 4Q22 3Q22 2Q22 1Q22 4Q21 3Q21 2Q21 1Q21 Total shareholders' equity 3,284,630$ 3,253,195$ 3,197,400$ 3,119,070$ 3,073,376$ 3,007,159$ 2,966,451$ 2,900,770$ 2,837,004$ 2,757,596$ Less: Goodwill 1,015,646 1,015,646 1,015,646 1,023,071 1,023,056 1,022,345 1,012,620 928,005 928,005 928,005 Other intangibles, net 96,800 101,488 106,194 110,903 115,613 120,757 125,938 60,396 63,783 67,848 Total tangible shareholders' equity 2,172,184$ 2,136,061$ 2,075,560$ 1,985,096$ 1,934,707$ 1,864,057$ 1,827,893$ 1,912,369$ 1,845,216$ 1,761,743$ Period end number of shares 69,139,783 69,373,863 69,369,050 69,352,709 69,360,461 69,439,084 69,609,228 69,635,435 69,767,209 69,713,426 Book value per share (period end) 47.51$ 46.89$ 46.09$ 44.97$ 44.31$ 43.31$ 42.62$ 41.66$ 40.66$ 39.56$ Tangible book value per share (period end) 31.42$ 30.79$ 29.92$ 28.62$ 27.89$ 26.84$ 26.26$ 27.46$ 26.45$ 25.27$ As of As of