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]

Financial Performance - Net income for Q1 2025 was $87.9 million, or $1.27 per diluted share, compared to $74.3 million, or $1.08 per diluted share in Q1 2024, representing a year-over-year increase of 18.4%[2] - Net income for Q1 2025 was $87,935, a decrease of 6.4% from $94,376 in Q4 2024[22] - Adjusted net income for Q1 2025 was $88,044, down from $95,078 in Q4 2024, reflecting a decline of 7.4%[22] - Diluted earnings per share (EPS) for Q1 2025 was $1.27, compared to $1.37 in Q4 2024, representing a decrease of 7.3%[24] - Total revenue for Q1 2025 was $285,862,000, down from $290,780,000 in Q4 2024, representing a decrease of 1.6%[41] - Adjusted total revenue (TE) for Q1 2025 was $286,753,000, compared to $291,212,000 in Q4 2024, a decline of 1.5%[41] - Net income for the consolidated entity decreased to $87,935,000 from $94,376,000, a decline of 6.5% quarter-over-quarter[48] Asset and Deposit Growth - Total assets increased to $26.51 billion at March 31, 2025, up from $26.26 billion at December 31, 2024[12] - Total deposits rose to $21.91 billion, an increase of $190.0 million during Q1 2025, with noninterest-bearing deposits representing 30.8% of total deposits[13] - Total assets increased to $26,514,940 thousand in March 2025, up from $25,655,445 thousand in March 2024, representing a growth of 3.35% year-over-year[26] - Total deposits rose to $21,912,409 thousand in March 2025, compared to $20,997,390 thousand in March 2024, reflecting an increase of 4.35% year-over-year[26] Interest Income and Margin - Net interest income on a tax-equivalent basis was $222.8 million, an increase of $20.4 million, or 10.1%, compared to Q1 2024[4] - Total interest income for Q1 2025 was $333,778, down from $346,363 in Q4 2024, a decline of 3.6%[24] - Net interest income after provision for credit losses was $199,947 for Q1 2025, compared to $209,013 in Q4 2024, a decrease of 4.3%[24] - The net interest margin for March 2025 was 3.73%, an increase from 3.64% in December 2024[36] - Net interest income (TE) for the three months ended March 2025 was $222,767, slightly down from $222,773 in December 2024[34] Efficiency and Expenses - The efficiency ratio was 52.83%, compared to 52.26% in Q4 2024 and 55.64% in Q1 2024, indicating improved operational efficiency[10] - Total noninterest expense for Q1 2025 was $151,034, slightly down from $151,949 in Q4 2024, a decrease of 0.6%[24] - The efficiency ratio for Q1 2025 was 52.83%, compared to 52.26% in Q4 2024, indicating a slight increase in operational efficiency[22] - Total noninterest expense for the consolidated entity was $151,034,000, slightly down from $151,949,000, a decrease of 0.6% quarter-over-quarter[48] Credit Quality - The allowance for credit losses increased to 1.67% of loans, up from 1.63% at the end of 2024[15] - The Company recorded a provision for credit losses of $21.9 million in Q1 2025, compared to $12.8 million in Q4 2024[15] - The allowance for credit losses at the end of March 2025 was $381,507 thousand, up from $357,232 thousand in March 2024, indicating a year-over-year increase of 6.79%[28] - Non-performing assets as a percentage of total assets decreased to 0.44% in March 2025 from 0.71% in March 2024, showing an improvement in asset quality[28] - The net charge-offs for the quarter were $9,048 thousand, compared to $12,600 thousand in the same quarter last year, indicating a decrease of 28.57%[28] Shareholder Equity - Tangible book value per share grew by $1.19, or 12.5% annualized, to $39.78 at March 31, 2025[7] - The book value per share at the end of Q1 2025 was $55.49, up from $54.32 in Q4 2024, an increase of 2.2%[22] - Total shareholders' equity rose to $3,823,802,000 in Q1 2025, up from $3,751,522,000 in Q4 2024[44] - Tangible common equity to tangible assets ratio improved to 10.78% in Q1 2025 from 10.59% in Q4 2024[44] Division Performance - Retail Mortgage Division net interest income decreased to $21,844,000 from $23,714,000, a decline of 7.8% quarter-over-quarter[46] - Warehouse Lending Division net income decreased to $4,554,000 from $5,149,000, a decline of 11.5% quarter-over-quarter[46] - Premium Finance Division net interest income increased to $9,880,000 from $10,390,000, a decrease of 4.9% quarter-over-quarter[46] - Banking Division net interest income increased to $184,213,000 from $181,077,000, an increase of 1.2% quarter-over-quarter[48] - Noninterest income for the Banking Division decreased to $28,724,000 from $31,647,000, a decline of 9.1% quarter-over-quarter[48]

Core Insights - Ameris Bancorp (ABCB) is expected to report quarterly earnings of $1.15 per share, a 4.6% increase year-over-year, with revenues projected at $278.8 million, reflecting a 3.9% increase [1] - Analysts have revised the consensus EPS estimate upward by 0.8% over the past 30 days, indicating a collective reassessment of projections [2] - Changes in earnings projections are crucial for predicting investor reactions, with empirical studies showing a strong correlation between earnings estimate trends and short-term stock price movements [3] Financial Metrics - Analysts estimate a 'Net interest margin (TE)' of 3.6%, up from 3.5% a year ago [5] - The 'Efficiency ratio' is projected to be 56.6%, compared to 55.6% in the same quarter last year [5] - 'Nonaccrual loans' are expected to reach $98.61 million, down from $164.69 million in the same quarter last year [6] - The consensus for 'Average Balances - Total Earning Assets' is $24.22 billion, an increase from $23.21 billion a year ago [6] - 'Total non-performing assets' are projected at $125.21 million, down from $182.68 million in the same quarter last year [7] - 'Net Interest Income (TE)' is expected to be $214.47 million, compared to $202.34 million a year ago [7] - 'Total Non-Interest Income' is forecasted at $64.32 million, slightly down from $65.88 million a year ago [8] - 'Net Interest Income' is projected to reach $212.85 million, up from $201.39 million a year ago [8] Market Performance - Over the past month, Ameris Bancorp shares have declined by 8.7%, while the Zacks S&P 500 composite has decreased by 6.6% [9] - Based on its Zacks Rank 2 (Buy), Ameris Bancorp is expected to outperform the overall market in the upcoming period [9]

Company Overview - Ameris Bancorp (ABCB) is expected to report earnings for the quarter ended March 2025, with a consensus estimate of $1.15 per share, reflecting a year-over-year increase of +4.6% [3] - Revenues are anticipated to be $278.8 million, which is a 3.9% increase from the same quarter last year [3] Earnings Expectations - The earnings report is scheduled for release on April 28, 2025, and could influence the stock price depending on whether the actual results exceed or fall short of expectations [2] - The consensus EPS estimate has been revised 0.79% higher in the last 30 days, indicating a positive reassessment by analysts [4] Earnings Surprise Prediction - The Zacks Earnings ESP for Ameris Bancorp is +7.83%, suggesting a strong likelihood of beating the consensus EPS estimate [11] - The company holds a Zacks Rank of 2 (Buy), which, when combined with a positive Earnings ESP, historically leads to a positive surprise nearly 70% of the time [8] Historical Performance - In the last reported quarter, Ameris Bancorp exceeded the expected earnings of $1.20 per share by delivering $1.38, resulting in a surprise of +15% [12] - The company has successfully beaten consensus EPS estimates in each of the last four quarters [13] Industry Comparison - First Bancorp (FBP), a peer in the Zacks Banks - Southeast industry, is expected to report earnings of $0.43 per share, indicating a year-over-year decline of -2.3% [17] - First Bancorp's consensus EPS estimate has remained unchanged over the last 30 days, and it currently has an Earnings ESP of -0.77%, making it challenging to predict a beat on the consensus estimate [18]

Company Overview - Ameris Bancorp (ABCB) shares increased by 8.3% to close at $54.90, following a notable trading volume that exceeded typical levels [1] - The stock had previously experienced a 10% decline over the past four weeks [1] Market Influence - The surge in Ameris Bancorp's stock was influenced by a broader market rally, particularly following President Donald Trump's announcement of a 90-day tariff pause for non-retaliating nations, which positively impacted investor sentiment [2] Earnings Expectations - Ameris Bancorp is projected to report quarterly earnings of $1.15 per share, reflecting a year-over-year increase of 4.6% [2] - Expected revenues for the upcoming quarter are $278.8 million, which represents a 3.9% increase compared to the same quarter last year [2] Earnings Estimate Revisions - The consensus EPS estimate for Ameris Bancorp has been revised 0.8% higher in the last 30 days, indicating a positive trend that typically correlates with stock price appreciation [4] - The stock currently holds a Zacks Rank of 2 (Buy), suggesting favorable market conditions [4] Industry Comparison - Ameris Bancorp is part of the Zacks Banks - Southeast industry, where another company, Cadence (CADE), saw a 9.3% increase in its stock price, closing at $28.87 [4] - Cadence's consensus EPS estimate has decreased by 3.2% over the past month, with a current estimate of $0.64, contrasting with its year-ago EPS change of 3.2% [5]

Core Viewpoint - Ameris Bancorp (ABCB) has a strong track record of exceeding earnings estimates and is well-positioned for future earnings growth, particularly with an average surprise of 12.26% over the last two quarters [1][5]. Earnings Performance - For the last reported quarter, Ameris Bancorp achieved earnings of $1.38 per share, surpassing the Zacks Consensus Estimate of $1.20 per share by 15% [2]. - In the previous quarter, the company also exceeded expectations, reporting earnings of $1.38 per share against an estimate of $1.26 per share, resulting in a surprise of 9.52% [2]. Earnings Estimates and Predictions - Estimates for Ameris Bancorp have been trending upward, supported by its history of earnings surprises [5]. - The company currently has a positive Earnings ESP of +7.83%, indicating increased analyst optimism regarding its near-term earnings potential [8]. - The combination of a positive Earnings ESP and a Zacks Rank of 2 (Buy) suggests a high likelihood of another earnings beat in the upcoming report [8]. Statistical Insights - Research indicates that stocks with a positive Earnings ESP and a Zacks Rank of 3 (Hold) or better have a nearly 70% chance of producing a positive surprise [6]. - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, with the Most Accurate Estimate reflecting the latest analyst revisions [7].

Loan Portfolio - As of December 31, 2024, the company's loan portfolio totaled approximately $21.27 billion, representing about 81.0% of total assets[29] - The commercial real estate loans segment has significantly grown and is the largest part of the loan portfolio, including loans for various commercial properties[29] - Residential real estate mortgage loans are primarily owner-occupied, amortized over 20 to 30 years, with a majority sold in the secondary market[30] - The Bank's construction and development (C&D) concentration as a percentage of capital totaled 63.3%, while the commercial real estate (CRE) concentration, net of owner-occupied loans, was 267.9%[100] Employee and Leadership Development - The company employed 2,691 full-time-equivalent employees as of December 31, 2024, primarily in core markets[53] - The company offers a comprehensive benefits package, including a 401(k) plan that matches 50% of employee contributions up to 8%[56] - The company has a formal mentorship program, "Mentor Ameris," with 26 mentees selected for 2024[59] - The Leadership Development Program had 481 teammates enrolled or completed by the end of 2024, focusing on various leadership skills[60] Regulatory Compliance and Capital Requirements - The Company is subject to extensive regulation, which significantly impacts its earnings, results of operations, financial condition, and competitive position[63] - As of December 31, 2024, the Company exceeded its minimum capital requirements with common equity Tier 1 capital, Tier 1 capital, and total capital equal to 12.65%, 12.65%, and 15.37% of its total risk-weighted assets, respectively[83] - The Bank's capital ratios as of December 31, 2024, were common equity Tier 1 capital, Tier 1 capital, and total capital equal to 13.15%, 13.15%, and 14.75% of its total risk-weighted assets, respectively, indicating it was "well-capitalized" for prompt corrective action purposes[83] - The Company has approximately $196.0 million of retained earnings available for payment of cash dividends under applicable regulations without obtaining regulatory approval as of December 31, 2024[76] - The Federal Reserve and the FDIC require the Company to maintain a common equity Tier 1 capital to total risk-weighted assets ratio of at least 4.5%[80] - The Company must maintain a capital conservation buffer of common equity Tier 1 capital of at least 2.5% of risk-weighted assets to avoid restrictions on capital distributions[80] - The ability of the Bank to pay dividends is restricted if it fails to satisfy regulatory capital conservation buffer requirements[77] - The Company is subject to federal law limitations on dividends paid to shareholders, requiring sufficient net income to cover cash dividends[78] Financial Performance and Risk Management - The Bank recognized an expense of $11.6 million in Q4 2023 related to a special assessment by the FDIC, which is based on an annual rate of 13.4 basis points applied to uninsured deposits exceeding $5 billion[94] - The Bank is mildly asset sensitive, with projected net interest income increasing by 0.7% over the next 12 months if interest rates rise by 100 basis points[336] - The earnings simulation model indicates that a 400 basis point increase in interest rates could lead to an 11.0% increase in projected baseline net interest income over 24 months[338] - The Bank's interest rate risk management involves monitoring changes in net interest income through simulation analysis, with quarterly assessments[336] Consumer Protection and Compliance - The Bank is required to maintain an effective anti-money laundering program and comply with OFAC sanctions, with significant penalties for violations[108][109] - The Bank is subject to various consumer protection laws, including the Equal Credit Opportunity Act and the Fair Credit Reporting Act, which impose significant compliance obligations and costs[111] - The CFPB's final rule on overdraft fees limits such fees to $5 or less, with compliance required by October 1, 2025, pending ongoing litigation[112] - The Bank must comply with the CFPB's final rule on data access by April 1, 2027, which mandates the provision of consumer financial data to authorized third parties without charging fees[120] Cybersecurity and Reporting Obligations - The Bank is required to report certain cybersecurity incidents within 36 hours, reflecting the importance of cybersecurity practices[117] - The SEC's new rule requires public issuers to enhance climate-related disclosures, impacting the Bank's reporting obligations[121] - The Bank is actively monitoring state-level privacy and cybersecurity regulations, which are increasingly being implemented across various states[119] Competitive Landscape - The competitive landscape includes various financial institutions, with the company facing strong competition for both deposits and loans[50]

Financial Data and Key Metrics Changes - For Q4 2024, the company reported net income of $94.4 million or $1.37 per diluted share, with adjusted net income at $95.1 million or $1.38 per diluted share [14] - Full-year 2024 net income was $358.7 million or $5.19 per diluted share, representing a 26% increase in year-over-year adjusted EPS [15] - Adjusted ROA for the full year was 1.33% and adjusted ROTCE was 13.93%, both improved from 2023 levels [15] - The tangible common equity ratio increased to 10.59% at the end of Q4, up from 10.24% last quarter and 9.64% at the end of the previous year [16] Business Line Data and Key Metrics Changes - Adjusted non-interest income increased by $4 million in Q4, primarily from gains on the sale of SBA loans [20] - Total loan production in Q4 was $1.8 billion, the highest in the past two years [23] - The average balance of total loans during the quarter was stable, with higher loans held for sale offsetting slight declines in portfolio loans [22] Market Data and Key Metrics Changes - Deposits increased by approximately $1 billion or almost 5% for the year, while broker deposits were reduced by $340 million [24] - Non-interest-bearing deposits represented 30% of total deposits, with brokered CDs making up less than 5% [24] - The company anticipates mid-single-digit loan and deposit growth for 2025, with deposit growth expected to govern loan growth [25] Company Strategy and Development Direction - The strategic focus remains on maintaining top-tier profitability, enhancing revenue generation, and leveraging growth opportunities within the Southeastern footprint [12] - The company aims to control expenses while maximizing earnings per share through effective balance sheet management [10] - Organic growth is prioritized over buybacks, with selective M&A opportunities considered if they align strategically [78] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about consumer sentiment and commercial customer confidence, which is reflected in increased production [55] - The company is positioned to accelerate growth or maintain current levels, focusing on controlled growth rather than aggressive expansion [59] - The outlook for 2025 is positive, with expectations for continued revenue growth and stable asset quality [120] Other Important Information - The company redeemed $105.8 million of subordinated debt, which is expected to save about 1 to 2 basis points of margin in 2025 [19] - The adjusted efficiency ratio improved to 51.82% for Q4, with a full-year adjusted efficiency ratio of 53.88% [21] Q&A Session Summary Question: Margin outlook for 2025 - Management indicated that while Q4 margin expansion was notable, some of it may revert due to seasonal factors and repricing lags, guiding for a margin around 3.50% to 3.55% [36] Question: SBA fee income run rate - The company expects fee income growth in the range of 5% to 7%, excluding mortgage-related fees [42] Question: Production increase drivers - Management attributed the increase in production to improved consumer sentiment and successful hiring, with optimism reflected in commercial customer activity [55] Question: Expense growth outlook - Consensus estimates for expense growth are around 4.5% to 5%, with some cyclical payroll expected in Q1 [64] Question: Mortgage banking gain on sale outlook - The company is guiding for a gain on sale margin in the range of 2.25% to 2.40% for the first half of 2025 [75] Question: Capital deployment strategy - Organic growth is prioritized, with buybacks taking a back seat, and M&A opportunities considered selectively [78] Question: Reserve build rationale - The reserve build is primarily driven by the CECL model and is reflective of expected loan growth rather than immediate concerns about credit quality [85]

Financial Performance - The company reported net income of $944 million, or $137 per diluted share for 4Q24[13] - Adjusted net income was $951 million, or $138 per diluted share[13] - Net interest income (TE) increased by $77 million to $2228 million in 4Q24[13,23] - The net interest margin expanded by 13bps to 364% for the fourth quarter[13] - Adjusted efficiency ratio improved to 5182%[13] - For the year to date 2024, net income was $3587 million, or $519 per diluted share[15] - Adjusted net income for the year to date was $3466 million, or $502 per diluted share[15] Balance Sheet and Capital - Total deposits decreased by $1568 million, or 07%, during 4Q24[40] - Non-brokered deposits increased by $6752 million, or 33%[40] - Noninterest-bearing deposits remained strong at 299% of total deposits[7,13,40] - Tangible book value increased by $108 per share, or 115% annualized in 4Q24[13] - The CET1 ratio is strong at 126%[47]