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 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. 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 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 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 Category: Earnings For more information, contact: Brady Gailey Executive Director of Corporate Development (404) 240-1517 Source: Ameris Bancorp