Core Viewpoint - Ameris Bancorp reported quarterly earnings of $1.59 per share, exceeding the Zacks Consensus Estimate of $1.35 per share, and showing an increase from $1.17 per share a year ago, representing an earnings surprise of +17.78% [1][2] Financial Performance - The company posted revenues of $301.65 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 1.56%, and showing a slight increase from $301.59 million year-over-year [2] - Over the last four quarters, Ameris Bancorp has surpassed consensus EPS estimates four times and topped consensus revenue estimates three times [2] Stock Performance - Ameris Bancorp shares have increased approximately 6.2% since the beginning of the year, compared to the S&P 500's gain of 8.6% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating it is expected to perform in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.36 on revenues of $302.1 million, and for the current fiscal year, it is $5.35 on revenues of $1.19 billion [7] - The estimate revisions trend for Ameris Bancorp was mixed ahead of the earnings release, which may change following the recent report [6] Industry Context - The Banks - Southeast industry, to which Ameris Bancorp belongs, is currently ranked in the top 6% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) Ameris Bancorp reported strong Q2 2025 financial results, with significant year-over-year growth in net income and EPS, robust profitability, and strong capital growth Q2 2025 vs Q2 2024 Performance | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Net Income | $109.8 million | $90.8 million | | Diluted EPS | $1.60 | $1.32 | Year-to-Date Performance (Six Months Ended June 30) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Net Income | $197.8 million | $165.1 million | | Diluted EPS | $2.87 | $2.39 | Q2 2025 Key Performance Indicators | Indicator | Value | | :--- | :--- | | Return on Average Assets | 1.65% | | Return on Average Tangible Common Equity | 15.82% | | Tangible Book Value Growth (Annualized) | 15.5% | | Tangible Book Value per Share | $41.32 | | Net Interest Margin (TE) | 3.77% | | Efficiency Ratio | 51.63% | - CEO Palmer Proctor highlighted the company's **above-peer profitability**, **strong balance sheet**, and strategic focus on **growing tangible book value per share**, positioning Ameris to capitalize on growth opportunities[4](index=4&type=chunk) [Financial Performance Analysis](index=1&type=section&id=Financial%20Performance%20Analysis) Financial performance was driven by strong net interest income growth, expanding net interest margin, increased noninterest income, and well-managed noninterest expenses [Net Interest Income and Net Interest Margin](index=1&type=section&id=Net%20Interest%20Income%20and%20Net%20Interest%20Margin) Net interest income grew quarterly and annually, driven by increased average earning assets and an expanded net interest margin to 3.77% Net Interest Income & Margin Trends | Metric | Q2 2025 | Q1 2025 | Q2 2024 | | :--- | :--- | :--- | :--- | | Net Interest Income (TE) | $232.7M | $222.7M | $212.8M | | Net Interest Margin | 3.77% | 3.73% | 3.58% | - The growth in average earning assets was primarily due to increases in portfolio loans, loans held for sale, and investment securities[5](index=5&type=chunk) - The total cost of funds was **stable at 2.06%** compared to Q1 2025, and deposit costs **decreased by 3 basis points to 1.95%**[9](index=9&type=chunk) [Noninterest Income](index=3&type=section&id=Noninterest%20Income) Noninterest income increased by 7.6% quarter-over-quarter, primarily fueled by an 11.3% rise in mortgage banking activity Noninterest Income Breakdown (Q2 2025 vs Q1 2025) | Component | Q2 2025 | Q1 2025 | Change | | :--- | :--- | :--- | :--- | | **Total Noninterest Income** | **$68.9M** | **$64.0M** | **+7.6%** | | Mortgage Banking Activity | $39.2M | $35.3M | +11.3% | | Other Noninterest Income | $8.5M | $7.8M | +8.7% | [Noninterest Expense](index=3&type=section&id=Noninterest%20Expense) Noninterest expenses rose slightly by 2.8% due to compensation and merit increases, improving the efficiency ratio to 51.63% - The primary drivers for the increase in noninterest expense were a **$2.7 million** rise in salaries and benefits and an **$862,000** increase in advertising and marketing[11](index=11&type=chunk) Efficiency Ratio Trend | Period | Efficiency Ratio | | :--- | :--- | | Q2 2025 | 51.63% | | Q1 2025 | 52.83% | | Q2 2024 | 51.68% | [Income Tax Expense](index=3&type=section&id=Income%20Tax%20Expense) The effective tax rate for Q2 2025 increased to 23.0% from 22.1% in Q1, driven by reduced equity compensation benefits and state tax changes - The company's effective tax rate increased to **23.0%** in Q2 2025, up from **22.1%** in Q1 2025[12](index=12&type=chunk) [Balance Sheet and Capital](index=3&type=section&id=Balance%20Sheet%20and%20Capital) The company maintained a strong balance sheet with modest asset growth, driven by loan expansion, healthy deposit growth, and improved capital ratios [Balance Sheet Trends](index=3&type=section&id=Balance%20Sheet%20Trends) Total assets grew to $26.68 billion, supported by loan expansion and healthy deposit growth, with noninterest-bearing accounts reaching 31.0% Key Balance Sheet Items (as of June 30, 2025) | Item | June 30, 2025 | March 31, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | :--- | | Total Assets | $26.68B | $26.51B | $26.26B | | Loans, net | $21.04B | $20.71B | $20.74B | | Total Deposits | $21.93B | $21.91B | $21.72B | - Deposit growth in Q2 was driven by increases in noninterest-bearing accounts, brokered CDs, and interest-bearing demand accounts, which offset declines in retail CDs and money market accounts[14](index=14&type=chunk) [Shareholders' Equity and Capital Ratios](index=3&type=section&id=Shareholders%27%20Equity%20and%20Capital%20Ratios) Shareholders' equity increased by 4.4% to $3.92 billion, driving tangible book value per share to $41.32 and improving the TCE ratio to 11.09% Equity and Capital Metrics (as of June 30, 2025) | Metric | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Total Shareholders' Equity | $3.92B | $3.75B | | Tangible Book Value per Share | $41.32 | $38.59 | | TCE / Tangible Assets | 11.09% | 10.59% | - The company repurchased **212,472 shares** in the second quarter of 2025[15](index=15&type=chunk) [Subordinated Debt](index=4&type=section&id=Subordinated%20Debt) The company will redeem $74 million of its 5.875% Fixed-To-Floating Rate Subordinated Notes due 2030, currently yielding 8.22% - Ameris will redeem **$74 million** in subordinated notes, which currently carry an **8.22% interest rate**, on September 1, 2025[16](index=16&type=chunk) [Credit Quality](index=4&type=section&id=Credit%20Quality) Credit quality improved in Q2 2025 with a significantly lower provision for credit losses, strong allowance, and decreased nonperforming assets Key Credit Quality Metrics | Metric | Q2 2025 | Q1 2025 | | :--- | :--- | :--- | | Provision for Credit Losses | $2.8M | $21.9M | | Allowance for Credit Losses / Loans | 1.62% | 1.67% (Implied) | | Nonperforming Assets / Total Assets | 0.36% | 0.44% | | Net Charge-off Ratio (Annualized) | 0.14% | 0.18% | - Nonperforming assets decreased, with the ratio to total assets falling to **0.36%**. Excluding government-guaranteed loans with minimal loss exposure, this ratio was even lower at **0.32%**[17](index=17&type=chunk) [Segment Reporting](index=17&type=section&id=Segment%20Reporting) The Banking Division was the largest contributor to net income in Q2 2025 at $82.6 million, with all segments reporting positive net income Net Income by Business Segment (in thousands) | Segment | Q2 2025 Net Income | Q2 2024 Net Income | | :--- | :--- | :--- | | Banking Division | $82,581 | $54,319 | | Retail Mortgage Division | $15,556 | $28,309 | | Warehouse Lending Division | $6,189 | $4,324 | | Premium Finance Division | $5,508 | $3,833 | | **Total Consolidated** | **$109,834** | **$90,785** | [Other Information](index=4&type=section&id=Other%20Information) This section provides details for the upcoming investor conference call, an overview of Ameris Bancorp's business, and standard disclaimers [Conference Call](index=4&type=section&id=Conference%20Call) Ameris Bancorp will host a conference call on July 29, 2025, to discuss quarterly results, with dial-in and webcast details provided - The company will host a conference call on July 29, 2025, to discuss its financial results, with details provided for access and replay[18](index=18&type=chunk) [About Ameris Bancorp](index=4&type=section&id=About%20Ameris%20Bancorp) Ameris Bancorp, headquartered in Atlanta, Georgia, manages $26.7 billion in assets, operates in five southeastern states, offering full banking services - Ameris Bancorp is a bank holding company with **$26.7 billion in assets** as of June 30, 2025, operating primarily in the southeastern United States[19](index=19&type=chunk) [Appendix: Financial Tables](index=6&type=section&id=Appendix%3A%20Financial%20Tables) This section contains detailed financial statements and supplementary data tables supporting the earnings release, covering key financial and segment data [Table 1: Financial Highlights](index=6&type=section&id=Table%201%3A%20Financial%20Highlights) [Table 2: Income Statement](index=7&type=section&id=Table%202%3A%20Income%20Statement) [Table 3: Period End Balance Sheet](index=8&type=section&id=Table%203%3A%20Period%20End%20Balance%20Sheet) [Table 4: Asset Quality Information](index=9&type=section&id=Table%204%3A%20Asset%20Quality%20Information) [Table 5: Loan Information](index=10&type=section&id=Table%205%3A%20Loan%20Information) [Table 6: Average Balances](index=10&type=section&id=Table%206%3A%20Average%20Balances) [Table 7: Interest Income and Interest Expense (TE)](index=11&type=section&id=Table%207%3A%20Interest%20Income%20and%20Interest%20Expense%20(TE)) [Table 8: Yields](index=12&type=section&id=Table%208%3A%20Yields) [Tables 9A-9D: Non-GAAP Reconciliations](index=14&type=section&id=Tables%209A-9D%3A%20Non-GAAP%20Reconciliations) [Table 10: Segment Reporting](index=17&type=section&id=Table%2010%3A%20Segment%20Reporting)

Core Insights - Ameris Bancorp (ABCB) has performed well for shareholders since being rated a "Buy" in October 2023, despite some negative aspects identified at that time [1] Company Analysis - The company is recognized for its potential in generating cash flow, which is crucial for value and growth prospects [1] Industry Context - Crude Value Insights focuses on the oil and natural gas sector, emphasizing cash flow and the companies that generate it, indicating a strategic approach to investment in this industry [1]

Core Viewpoint - Ameris Bancorp (ABCB) has received an upgrade to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system is based on changes in earnings estimates, which have a strong correlation with near-term stock price movements [4][6]. - An increase in earnings estimates typically leads to higher fair value calculations by institutional investors, resulting in buying or selling activity that affects stock prices [4]. Recent Performance and Projections - For the fiscal year ending December 2025, Ameris Bancorp is projected to earn $5.35 per share, consistent with the previous year's figure [8]. - Over the past three months, the Zacks Consensus Estimate for Ameris Bancorp has increased by 5.7%, reflecting a positive trend in earnings outlook [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with only the top 20% receiving a "Strong Buy" or "Buy" rating [9][10]. - The upgrade of Ameris Bancorp to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10].

Financial Performance - Ameris reported net income of $87.9 million, or $1.27 per diluted share, for Q1 2025, up from $74.3 million, or $1.08 per diluted share, in Q1 2024, representing a 18.8% increase in net income [128]. - The return on average assets increased to 1.36% in Q1 2025 from 1.18% in Q1 2024, while the return on average shareholders' equity rose to 9.39% from 8.63% [128]. - Income before income tax expense rose to $112.936 million in Q1 2025, up from $97.450 million in Q1 2024, representing a 15.9% increase [129]. Interest Income and Expenses - Total interest income for Q1 2025 was $333.778 million, compared to $329.452 million in Q1 2024, reflecting a slight increase of 1% [129]. - Net interest income increased to $221.839 million in Q1 2025 from $201.388 million in Q1 2024, marking a growth of 10.2% [129]. - The net interest margin for Q1 2025 was 3.73%, up 22 basis points from 3.51% in Q1 2024 [1]. - Total interest income for Q1 2025 was $334.7 million, compared to $330.4 million in Q1 2024 [2]. Noninterest Income and Expenses - Noninterest income for Q1 2025 was $64.023 million, compared to $65.878 million in Q1 2024, showing a decline of 2.8% [129]. - Total noninterest expense increased to $151.034 million in Q1 2025 from $148.711 million in Q1 2024, reflecting a rise of 1.6% [129]. - Total noninterest income for Q1 2025 was $64.0 million, a decrease of $1.9 million, or 2.8%, from $65.9 million in Q1 2024 [4]. Credit Losses and Asset Quality - Provision for credit losses decreased to $21.892 million in Q1 2025 from $21.105 million in Q1 2024, indicating a reduction of 3.7% [129]. - The provision for credit losses in Q1 2025 was $21.9 million, compared to $21.1 million in Q1 2024 [3]. - Non-performing assets as a percentage of total assets decreased to 0.44% at March 31, 2025, from 0.47% at December 31, 2024 [8]. - The net charge-off ratio as a percentage of average loans decreased to 0.18% for the first three months of 2025, down from 0.25% for the same period in 2024 [148]. Loans and Deposits - As of March 31, 2025, gross loans outstanding were $21.25 billion, a slight decrease of $33.3 million or 0.2% from $21.27 billion at December 31, 2024 [147]. - Total deposits increased by $190.0 million, or 0.9%, to $21.91 billion at March 31, 2025, compared to $21.72 billion at December 31, 2024 [164]. - Noninterest-bearing deposits rose by $246.5 million, or 3.8%, while interest-bearing deposits decreased by $56.5 million, or 0.4% during the first three months of 2025 [164]. Capital and Liquidity - As of March 31, 2025, the Company maintained a Tier 1 Leverage Ratio of 11.00% and a CET1 Ratio of 12.87% [170]. - The Company’s liquidity ratios were considered satisfactory, with investment securities available-for-sale to total deposits at 8.87% as of March 31, 2025 [176]. - The Company had availability with the FHLB and FRB Discount Window of $3.52 billion and $2.29 billion, respectively, at March 31, 2025 [175]. Risk Management - Management emphasized the importance of monitoring various risks, including economic conditions and regulatory changes, which could impact future performance [124]. - The company regularly assesses the valuation of other real estate owned (OREO), which totaled $863,000 at March 31, 2025, a decrease of 64.5% from $2.4 million at December 31, 2024 [156].

Core Viewpoint - Ameris Bancorp (ABCB) has received an upgrade to a Zacks Rank 2 (Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system tracks the Zacks Consensus Estimate, which reflects EPS estimates from sell-side analysts, and changes in these estimates are strongly correlated with near-term stock price movements [2][4]. - Rising earnings estimates for Ameris Bancorp indicate an improvement in the company's underlying business, which is expected to lead to increased stock prices as investors respond positively [5][8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 (Strong Buy) stocks historically generating an average annual return of +25% since 1988 [7]. - Ameris Bancorp's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting a strong potential for market-beating returns in the near term [10]. Recent Earnings Estimate Revisions - For the fiscal year ending December 2025, Ameris Bancorp is expected to earn $5.34 per share, reflecting a 6.4% increase from the previous year [8]. - Over the past three months, the Zacks Consensus Estimate for Ameris Bancorp has increased by 7%, indicating a positive trend in earnings expectations [8].

Financial Data and Key Metrics Changes - The company reported net income of $87.9 million or $1.27 per diluted share, a 17% increase compared to the first quarter of the previous year [12] - Net interest income increased by $20 million, while provision and non-interest expense remained relatively flat [12] - The efficiency ratio improved to 52.83% from 55.64% year-over-year [13] - Return on assets (ROA) remained strong at 1.36%, with PPNR ROA at 2.08% and adjusted return on tangible common equity at 13.16% [13][12] - Tangible book value per share grew by $1.19 to $39.78, and the tangible common equity ratio increased to $10.78 [13] Business Line Data and Key Metrics Changes - Loan balances were stable during the quarter, with total loan production at $1.5 billion, slightly down from the previous quarter but higher than the year-ago level [19] - Non-interest bearing deposits grew at a 15% annualized rate, representing 30.8% of total deposits [18] - Non-interest income decreased by $4.9 million, primarily due to reduced gains on the sale of SBA loans and a decline in mortgage division revenue [16] Market Data and Key Metrics Changes - The company experienced a 4% annualized growth in deposits, with total deposits increasing by $190 million [17] - Interest-bearing deposits fell slightly, while non-interest bearing deposits increased significantly [18] - The company anticipates mid-single-digit loan and deposit growth for 2025 [20] Company Strategy and Development Direction - The company focuses on maintaining top-tier profitability, enhancing revenue generation, and sustaining a strong capital position [5][8] - There is a strategic emphasis on optimizing margins rather than driving growth in uncertain economic conditions [6] - The company plans to leverage growth opportunities within its Southeastern footprint when the economic environment allows [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's positioning for the remainder of 2025, despite macroeconomic uncertainties [10] - The company is prepared to capitalize on growth opportunities with a solid core deposit base and strong capital and liquidity positions [9][10] - Management indicated that the second half of 2025 is expected to present more growth opportunities than the first half [9] Other Important Information - The company repurchased approximately $15 million of common stock during the first quarter, with $85 million remaining available for buybacks [14] - The reserve for credit losses increased to 1.67% of loans, influenced by economic forecasts [16][42] Q&A Session Summary Question: What is driving the resilience in loan yields? - Loan production for the quarter averaged around 6.86%, with the core bank at about 8%, contributing to strong loan yields [25] Question: How does the company balance economic uncertainty with growth desires? - The company plans to be measured rather than aggressive in the current environment, focusing on capital and liquidity to capitalize on opportunities [36] Question: What is the outlook for expenses moving forward? - The company experienced strong expense control this quarter, and while merit increases will occur, the overall expense guidance remains aligned with expectations [40] Question: Why did the reserve increase despite strong underlying metrics? - The reserve build was model-driven, influenced by economic forecasts, and not due to asset quality deterioration [42] Question: What is the expectation for loan growth and related balance sheet growth? - The company expects loan growth in the mid-single digits, with Balboa tracking in line with overall company growth [46]

Financial Data and Key Metrics Changes - The company reported net income of $87.9 million or $1.27 per diluted share, a 17% increase compared to the first quarter of the previous year [11] - The return on assets (ROA) remained strong at 1.36%, with a PPNR ROA of 2.08% and an adjusted return on tangible common equity of 13.16% [12] - The efficiency ratio improved to 52.83% from 55.64% in the same quarter last year [12] - Tangible book value per share increased by $1.19 to $39.78, and the tangible common equity ratio rose to $10.78 [12] Business Line Data and Key Metrics Changes - Net interest income increased by $20 million compared to the first quarter of last year, while non-interest expense remained relatively flat [11] - Loan balances were stable during the quarter, with total loan production at $1.5 billion, slightly down from the previous quarter but higher than the year-ago level [18] - Non-interest bearing deposits grew at a 15% annualized rate, representing 30.8% of total deposits [18] Market Data and Key Metrics Changes - The company experienced a 4% annualized growth in deposits, with an increase of $190 million during the quarter [17] - Interest-bearing deposits fell slightly, but non-interest bearing deposits grew significantly [18] - The company anticipates mid-single-digit loan and deposit growth for 2025 [19] Company Strategy and Development Direction - The company aims to maintain top-tier profitability, enhance revenue generation, and sustain a strong capital position to prepare for changing macroeconomic conditions [5][8] - The focus is on optimizing margins rather than aggressive growth, with a disciplined approach to balance sheet management [6][9] - The company is well-positioned to leverage growth opportunities within its Southeastern footprint [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the second half of 2025, expecting more growth opportunities despite macroeconomic uncertainty [9] - The company is prepared to capitalize on opportunities with a well-capitalized balance sheet and a proven culture of expense control [10] - Management noted that the current economic environment creates opportunities, but they will remain measured in their approach [34] Other Important Information - The company repurchased approximately $15 million of common stock during the first quarter, with $85 million remaining available for buybacks [13] - The reserve for credit losses increased to 1.67% of loans, influenced by economic forecasts and not due to asset quality deterioration [15][40] Q&A Session Summary Question: What is driving the resilience in loan yields? - Loan production for the quarter averaged around 6.86%, with the core bank performing well at about 8% [24] Question: Do you expect loan yields to improve without rate cuts? - Loan yields are expected to remain consistent, with margin compression likely coming from the deposit side as loan growth picks up [27] Question: How does the company balance economic uncertainty with growth desires? - The company will be measured in its approach, leveraging its strong capital and liquidity positions while being prepared to capitalize on opportunities [34] Question: What influenced the reserve build despite strong underlying metrics? - The reserve build was model-driven, influenced by economic forecasts, and not related to asset quality [40] Question: What is the expectation for loan growth and Balboa's contribution? - Loan growth is expected to be in the mid-single digits, with Balboa tracking in line with the company [45] Question: How does the company view capital deployment moving forward? - The company prefers organic growth and will evaluate sub-debt options as they come due, while also considering buybacks [50]

Financial Performance - The company reported net income of $87935000, or $127 per diluted share in 1Q25[16] - The company's return on average assets (ROA) was 136% in 1Q25[15] - The company's efficiency ratio improved to 5283% in 1Q25, compared to 5564% in 1Q24[15] - The company's tangible book value (TBV) grew by $119 per share to $3978 at the end of 1Q25, representing an annualized growth rate of 125%[15] Deposits and Capital - Noninterest-bearing deposits remained strong, accounting for 308% of total deposits as of March 31, 2025[15] - The company's CET1 ratio was 129%[8] Loan Portfolio and Credit Quality - The allowance for credit losses increased to 167% of loans[8] - The company's loan portfolio is diversified, with total loans of $207 billion[47] - Criticized loans were reduced by $444 million, a decrease of 157%[15]

Core Insights - Ameris Bancorp (ABCB) reported quarterly earnings of $1.28 per share, exceeding the Zacks Consensus Estimate of $1.15 per share, and up from $1.10 per share a year ago, representing an earnings surprise of 11.30% [1] - The company posted revenues of $286.79 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 2.87%, and an increase from $268.22 million year-over-year [2] - Ameris Bancorp has consistently surpassed consensus EPS estimates over the last four quarters, achieving this four times [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.27 on revenues of $292.23 million, and for the current fiscal year, it is $5.08 on revenues of $1.17 billion [7] - The estimate revisions trend for Ameris Bancorp is favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Banks - Southeast industry, to which Ameris Bancorp belongs, is currently ranked in the top 16% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]