MOULTRIE, Ga., Oct. 19, 2017 /PRNewswire/ -- Ameris Bancorp
(Nasdaq: ABCB) (the "Company") today reported net income of
$20.2 million, or $0.54 per diluted share, for the quarter ended
September 30, 2017, compared with
$21.6 million, or $0.61 per diluted share, for the quarter ended
September 30, 2016. For the
year-to-date period ending September 30,
2017, the Company reported net income of $64.4 million, or $1.74 per diluted share, compared with
$53.9 million, or $1.56 per diluted share, for the same period in
2016. Results for the quarter were affected by additional
charges associated with Bank Secrecy Act compliance, as well as
expenses from the impact of Hurricane Irma.
The Company reported adjusted operating net income of
$23.6 million, or $0.63 per diluted share, for the quarter ended
September 30, 2017, compared with
$21.7 million, or $0.62 per diluted share, for the third quarter of
2016. The Company reported adjusted operating net income of
$68.7 million, or $1.86 per diluted share, for the nine months
ended September 30, 2017, compared
with $58.4 million, or $1.69 per diluted share, for the same period of
2016. Adjusted operating net income excludes certain
after-tax costs associated with compliance-resolution charges,
expenses resulting from Hurricane Irma and acquisitions and sales
of premises, as shown in the following summary of the adjustments
between reported net income and adjusted operating net income:
|
Three Months
Ended
|
|
Nine Months
Ended
|
Adjusted Operating
Net Income Reconciliation
|
September
2017
|
|
September
2016
|
|
September
2017
|
|
September
2016
|
|
|
|
|
|
|
|
|
Net income available
to common shareholders
|
$
20,158
|
|
$
21,557
|
|
$
64,398
|
|
$
53,923
|
|
|
|
|
|
|
|
|
Merger and conversion
charges
|
92
|
|
-
|
|
494
|
|
6,359
|
Certain
compliance-resolution expenses
|
4,729
|
|
-
|
|
4,729
|
|
-
|
Financial impact of
Hurricane Irma
|
410
|
|
-
|
|
410
|
|
-
|
Losses (gains) on the
sale of premises
|
91
|
|
238
|
|
956
|
|
562
|
Tax effect of
management-adjusted charges
|
(1,863)
|
|
(83)
|
|
(2,306)
|
|
(2,422)
|
Plus: After tax
management-adjusted charges
|
3,459
|
|
155
|
|
4,283
|
|
4,499
|
Adjusted
Operating Net income
|
23,617
|
|
21,712
|
|
68,681
|
|
58,422
|
|
|
|
|
|
|
|
|
Reported net income
per diluted share:
|
$
0.54
|
|
$
0.61
|
|
$
1.74
|
|
$
1.56
|
Adjusted operating
net income per diluted share:
|
$
0.63
|
|
$
0.62
|
|
$
1.86
|
|
$
1.69
|
|
|
|
|
|
|
|
|
Reported return on
average assets
|
1.07%
|
|
1.35%
|
|
1.20%
|
|
1.19%
|
Adjusted operating
return on average assets
|
1.26%
|
|
1.36%
|
|
1.28%
|
|
1.29%
|
Commenting on the Company's quarterly results, Edwin W. Hortman, Jr., the Company's President
and Chief Executive Officer, said, "During the quarter, we incurred
a substantial amount of expense to resolve BSA compliance issues in
an accelerated fashion. Excluding this expense, our operating
results were strong. Our margin, excluding accretion income,
expanded by approximately three basis points, we had core loan
growth of almost $313 million, or 24%
annualized, and our average deposits were 12% higher in the current
quarter than a year ago."
Highlights of the Company's performance and results for the
third quarter of 2017 include the following:
- Adjusted operating return on average assets of 1.26% and
adjusted return on average tangible equity of 14.28%
- Organic loan growth of $312.9
million for the quarter, reflecting an annualized growth
rate of 24.3%
- Excluding accretion, increases in net interest margin of 3 bps
to 3.80% in the third quarter of 2017, from 3.77% in the second
quarter of 2017 and 5 bps improvement from 3.75% in the third
quarter of 2016
- Growth in average deposits during the third quarter of 2017 to
$5.84 billion, an increase of 11.8%,
or $615.9 million, over the same
period in 2016
- 9.2% increase in total revenue, to $93.9
million, in the third quarter of 2017, compared with total
revenue of $85.9 million in the third
quarter of 2016
- Increase in tangible book value per share to $17.78, compared with $17.24 per share at June
30, 2017
- Adjusted operating efficiency ratio, on a tax-equivalent basis,
essentially flat at 61.09% in the third quarter of 2017
- Steady capital ratios despite strong growth rates, with
tangible common equity to tangible assets equal to 8.81% at
September 30, 2017, compared with
8.84% at June 30, 2017
Net Interest Income and Net Interest Margin
The
Company's net interest margin, excluding the effect of accretion,
improved during the quarter to 3.80%, compared with 3.77% in the
second quarter of 2017. Compared with the same quarter in
2016, net interest margin has improved by five basis points while
average earning assets grew $1.11
billion over this period.
Net interest income (taxable equivalent) for the third quarter
of 2017 totaled $68.7 million, an
increase of $10.6 million, or 18.3%,
compared with $58.0 million reported
for the third quarter of 2016. Accretion income in the
current quarter decreased to $2.7
million, compared with $2.9
million in the second quarter of 2017 and $3.6 million in the third quarter of 2016.
Higher levels of net interest income resulted mostly from growth in
average loans outstanding of approximately $1.09 billion since the third quarter of
2016. Average balances of short-term assets and investments,
as a percentage of average earning assets, decreased to 14.1% for
the current quarter, from 16.4% for the same quarter in 2016.
At the current quarter's end, loans outstanding represented 86.1%
of total earning assets, compared with 83.9% at September 30, 2016.
Interest income on a tax-equivalent basis increased to
$78.1 million in the third quarter of
2017, an increase of $15.0 million,
or 23.7%, from the same quarter in 2016. Yields on total
earning assets moved higher during the quarter to 4.50%, compared
with 4.45% for the second quarter of 2017 and 4.35% for the third
quarter of 2016. Yields on all loans, excluding the effect of
accretion, increased to 4.65% in the current quarter of 2017,
compared with 4.59% in the second quarter of 2017 and 4.49% in the
third quarter of 2016. Loan production in the banking
division during the third quarter of 2017 totaled $463.7 million, with weighted average yields of
4.77%, compared with $527.8 million
and 4.56%, respectively, in the second quarter of 2017 and
$568.3 million and 4.14%,
respectively, in the third quarter of 2016. Loan production
in the lines of business (to include retail mortgage, warehouse
lending, SBA and premium finance) amounted to an additional
$1.6 billion during the third quarter
of 2017.
Interest expense during the current quarter of 2017 increased to
$9.5 million, compared with
$5.1 million in the same quarter in
2016. The Company's cost of funds increased slightly to 0.57%
in the third quarter of 2017 as compared with 0.52% in the second
quarter of 2017. The cost of deposits increased to 0.35% in
the third quarter of 2017, compared with 0.32% in the second
quarter of 2017. Interest expense on non-deposit borrowings
increased during the quarter to $4.3
million, compared with $3.7
million in the second quarter of 2017. Overall costs
on these funding sources decreased from a rate standpoint over the
quarter, but the Company's use of these sources has increased from
10.6% of total funding in the second quarter of 2017 to 11.9% in
the third quarter of 2017. Management is comfortable with the
current level of non-deposit borrowings, particularly in light of
an accelerating pace of deposit growth and the shorter incremental
duration of the loan portfolio in certain specialty lines of
business.
Non-interest Income
Non-interest income in the
third quarter of 2017 was $27.0
million, a decrease from the $28.9
million reported in the third quarter of 2016. Service
charges in the third quarter of 2017 were $10.5 million, a decrease of $823,000, or 7.3%, compared with the same quarter
in 2016. Service charge-related revenues on commercial and
consumer accounts increased, while NSF fee income continued to
decline.
Revenue from the Company's retail mortgage operations was
$16.5 million, an increase of 4.4%
compared with the same quarter in 2016, but flat compared with the
second quarter of 2017. Net income for the Company's retail
mortgage division increased 6.9% during the third quarter of 2017
to $3.0 million, compared with
$2.8 million in the third quarter of
2016. However, profitability for the retail mortgage
division in the third quarter declined compared with the second
quarter of 2017 due to increased compensation costs and recruiting
costs associated with hiring 15 additional mortgage production
officers during the quarter. Total retail production during
the current quarter was $401.7
million, compared with $410.8
million in the third quarter of 2016. Spreads (gain on
sale) on the Company's production decreased to 3.30% in the current
quarter, compared with 3.69% in the same quarter of 2016.
Open pipelines at the end of the quarter were $158.4 million, compared with $174.3 million at the beginning of the third
quarter of 2017 and $145.4 million at
the end of the third quarter of 2016.
Net income for the Company's warehouse lending division
decreased during the quarter, from $1.4
million in the third quarter of 2016 to $1.1 million in the third quarter of 2017.
Loan production decreased from $1.1
billion in the third quarter of 2016 to approximately
$957.3 million in the current
quarter. The decline in profitability is attributable to an
increase of $121,000 in the
division's provision for loan loss expense and $262,000 of additional cost of funds allocated to
the division.
Revenues from the Company's SBA division were $2.1 million during the third quarter of both
2017 and 2016. However, primarily due to reduced provision
for loan loss expense, net income for the division increased 9.7%
from $668,000 for the third quarter
of 2016 to $734,000 for the third
quarter of 2017.
Revenues from the Company's premium finance division were
strong, increasing 49.6% (annualized) to $6.5 million in the third quarter of 2017.
Growth in the premium finance division's outstanding balances as
well as quarterly production have exceeded management's
expectations and contributed to the division's net income for the
current quarter of $1.8
million. The Company continues to recruit sales
officers and support staff to support the division and believes
that these attractive growth rates can be sustained into 2018 and
2019.
Non-interest Expense
During the third quarter
of 2017, the Company recorded $5.3
million of management adjusted non-operating expenses, most
of which were centered in an additional $4.7
million of compliance-related charges and $410,000 of hurricane-related charges, compared
with an aggregate of $238,000 for
similar expenses recorded in the third quarter of 2016.
Excluding these charges, operating expenses increased approximately
$5.4 million, to $58.4 million, from $53.0
million in the third quarter of 2016. The additional
compliance-related charges resulted from the completion of certain
look-back procedures that were required by the FDIC for the
Company's compliance with its consent order relating to Bank
Secrecy Act matters.
Expenses associated with the Company's new division, US Premium
Finance, were $3.6 million in the
third quarter of 2017 and represented the majority of the total
increase in operating expenses against the same quarter of
2016. Additionally, the Company incurred approximately
$488,000 of operating expenses
related to the new equipment finance line of business and
approximately $1 million of recurring
operating expenses (compensation and consulting charges) associated
with the expanded staffing and processes in BSA.
Salaries and benefits increased by $4.6
million, or 16.4%, to $32.6
million in the current quarter of 2017, compared with
$28.0 million in the third quarter of
2016. Increases in salaries and benefits from the third
quarter of 2016 to the third quarter of 2017 relating to the
Company's ongoing Bank Secrecy Act compliance efforts, expenses
associated with the addition of the premium finance division and
expenses resulting from the addition of the equipment finance line
of business were $1.1 million,
$1.3 million and $421,000, respectively. Higher incentive
accruals for the Company's production staff, as well as increased
commissions in the mortgage and SBA divisions, accounted for the
remaining increase in compensation costs.
Occupancy costs were flat at approximately $6.0 million during the current quarter of 2017
compared with the same quarter in 2016. Tighter controls on
expenses were the principal drivers of minimal increases in these
costs. Data processing and telecommunications costs remained
stable, at approximately $7.0
million, compared with the second quarter of 2017, but
increased by 14.0% compared with the third quarter of
2016.
Total credit costs (provision and non-provision credit
resolution-related costs) totaled $3.1
million in the third quarter of 2017, compared with
$2.3 million in the same quarter in
2016 and $2.8 million in the second
quarter of 2017.
Balance Sheet Trends
Total assets at
September 30, 2017 were $7.65 billion, compared with $6.89 billion at December
31, 2016 and $7.40 billion at
June 30, 2017.
Loans, including loans held for sale, totaled $6.09 billion at September
30, 2017, compared with $5.37
billion at December 31, 2016
and $5.82 billion at June 30, 2017. During the quarter, growth
in core loans (legacy and purchased non-covered loans) increased by
$312.9 million, or 24.3%, on an
annualized basis. Growth in core loans (legacy and purchased
non-covered loans) for the year-to-date period in 2017 totaled
$802.8 million, or 23.1% on an
annualized basis, compared with $534.6
million, or an annualized growth rate of 22.4%, for the same
period in 2016. The Company's efforts to manage a diversified
loan portfolio have resulted in concentration levels that are
solidly below the regulatory guidance. Loans held for sale,
which includes both residential mortgage and SBA-guaranteed loans,
decreased $9.4 million during the
third quarter of 2017.
Loan production and growth associated with the new premium
finance division continue to meet forecasted levels. Loans
outstanding for the division grew $11.3
million, or 9.5% annualized, from $476.6 million at the end of the second quarter
of 2017 to $487.9 million at the end
of the third quarter of 2017.
Lending activity in the Company's new equipment finance line of
business, which provides financing for heavy equipment in the
manufacturing, transportation and construction sectors, increased
during the third quarter of 2017, resulting in outstanding balances
of $49.4 million at the end of the
quarter, compared with $15.9 million
at the end of the second quarter of 2017. The line of
business finished the quarter with approved and unfunded credit
totaling $92.2 million, with an
additional active pipeline of $90.3
million. Management expects additional approvals
through the remainder of the year and that usage on approved lines
will increase and support the Company's overall growth goals for
the remainder of 2017 and into early 2018.
Investment securities at the end of the third quarter of 2017
were $867.6 million, or 12.3% of
earning assets, compared with $852.2
million, or 13.5% of earning assets, at December 31, 2016.
At September 30, 2017, total
deposits amounted to $5.90 billion,
or 86.7% of total funding, compared with $5.58 billion and 89.8%, respectively, at
December 31, 2016. Non-interest
bearing deposits at the end of the current quarter were
$1.72 billion, or 29.1% of total
deposits, compared with $1.57
billion, or 28.2%, at December
31, 2016. Non-rate sensitive deposits (including
non-interest bearing, NOW and savings) totaled $3.21 billion at September
30, 2017, compared with $3.17
billion at the end of 2016. These funds represented
54.4% of the Company's total deposits at September 30, 2017, compared with 56.9% at the
end of 2016.
Shareholders' equity at September 30,
2017 totaled $801.9 million,
compared with $646.4 million at
December 31, 2016. The increase
in shareholders' equity was the result of the issuance of shares of
common stock in the Company's public offering in the first quarter
of 2017, plus earnings of $64.4
million during the first nine months of 2017. Tangible
book value per share at September 30,
2017 was $17.78, up 23.3% from
$14.42 at the end of 2016.
Tangible common equity as a percentage of tangible assets was 8.81%
at the end of the third quarter of 2017, compared with 7.46% at the
end of 2016.
Conference Call
The Company will host a
conference call at 10:00 a.m. EDT
today (October 19, 2017) to discuss
the Company's results and answer appropriate questions. The
conference call can be accessed by dialing 1-877-504-1190 (or
1-855-669-9657 for participants in Canada and 1-412-902-6630 for other
international participants). The conference ID name is Ameris
Bancorp ABCB. A replay of the call will be available
beginning one hour after the end of the conference call until
November 2, 2017. To listen to
the replay, dial 1-877-344-7529 (or 1-855-669-9658 for participants
in Canada and 1-412-317-0088 for
other international participants). The conference replay
access code is 10112464. The conference call replay and the
financial information discussed will also be available on the
Investor Relations page of the Ameris Bank website at
www.amerisbank.com.
About Ameris Bancorp
Ameris Bancorp is a bank
holding company headquartered in Moultrie, Georgia. The Company's banking
subsidiary, Ameris Bank, had 97 locations in Georgia, Alabama, northern Florida and South
Carolina at the end of the most recent quarter.
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"). Management of Ameris
Bancorp (the "Company") uses these non-GAAP 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 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 performance measures that may be presented by other
companies.
This news release contains statements that constitute
"forward-looking statements" within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. The words
"believe", "estimate", "expect", "intend", "anticipate" and similar
expressions and variations thereof identify certain of such
forward-looking statements, which speak only as of the dates which
they were made. The Company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Readers are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties and that actual results may differ materially from
those indicated in the forward-looking statements as a result of
various factors. Readers are cautioned not to place undue reliance
on these forward-looking statements and are referred to the
Company's periodic filings with the Securities and Exchange
Commission for a summary of certain factors that may impact the
Company's results of operations and financial condition.
AMERIS
BANCORP
|
FINANCIAL
HIGHLIGHTS
|
(unaudited)
|
(dollars in thousands
except per share data and FTE headcount)
|
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
|
|
Sept.
|
|
Jun.
|
|
Mar.
|
|
Dec.
|
|
Sept.
|
|
Sept.
|
|
Sept.
|
|
|
|
2017
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
Income
|
$
20,158
|
|
$
23,087
|
|
$
21,153
|
|
$
18,177
|
|
$
21,557
|
|
$
64,398
|
|
$
53,923
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Operating
Net Income
|
$
23,617
|
|
$
23,458
|
|
$
21,606
|
|
$
22,205
|
|
$
21,712
|
|
$
68,681
|
|
$
58,422
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PER COMMON SHARE
DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share
available to common
shareholders:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
$
0.54
|
|
$
0.62
|
|
$
0.59
|
|
$
0.52
|
|
$
0.62
|
|
$
1.76
|
|
$
1.58
|
|
|
Diluted
|
$
0.54
|
|
$
0.62
|
|
$
0.59
|
|
$
0.52
|
|
$
0.61
|
|
$
1.74
|
|
$
1.56
|
|
|
Operating Diluted
EPS
|
$
0.63
|
|
$
0.63
|
|
$
0.60
|
|
$
0.63
|
|
$
0.62
|
|
$
1.86
|
|
$
1.69
|
|
Cash Dividends per
share
|
$
0.10
|
|
$
0.10
|
|
$
0.10
|
|
$
0.10
|
|
$
0.10
|
|
$
0.30
|
|
$
0.20
|
|
Book value per share
(period end)
|
$
21.54
|
|
$
21.03
|
|
$
20.42
|
|
$
18.51
|
|
$
18.42
|
|
$
21.54
|
|
$
18.42
|
|
Tangible book value
per share (period end)
|
$
17.78
|
|
$
17.24
|
|
$
16.60
|
|
$
14.42
|
|
$
14.38
|
|
$
17.78
|
|
$
14.38
|
|
Weighted average
number of shares:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
37,225,418
|
|
37,162,810
|
|
35,664,420
|
|
34,915,459
|
|
34,869,747
|
|
36,689,934
|
|
34,155,556
|
|
|
Diluted
|
37,552,667
|
|
37,489,348
|
|
36,040,240
|
|
35,293,035
|
|
35,194,739
|
|
37,017,486
|
|
34,470,101
|
|
Period-end number of
shares
|
37,231,049
|
|
37,222,904
|
|
37,128,714
|
|
34,921,474
|
|
34,891,304
|
|
37,231,049
|
|
34,891,304
|
|
Market
data:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
High intraday
price
|
$
51.28
|
|
$
49.80
|
|
$
49.50
|
|
$
47.70
|
|
$
36.20
|
|
$
51.28
|
|
$
36.20
|
|
|
Low intraday
price
|
$
41.05
|
|
$
42.60
|
|
$
41.60
|
|
$
34.61
|
|
$
28.90
|
|
$
41.05
|
|
$
24.96
|
|
|
Period end closing
price
|
$
48.00
|
|
$
48.20
|
|
$
46.10
|
|
$
43.60
|
|
$
34.95
|
|
$
48.00
|
|
$
34.95
|
|
|
Average daily
volume
|
168,911
|
|
169,617
|
|
242,982
|
|
191,894
|
|
166,841
|
|
193,555
|
|
211,351
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PERFORMANCE
RATIOS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average
assets
|
1.07%
|
|
1.29%
|
|
1.24%
|
|
1.10%
|
|
1.35%
|
|
1.20%
|
|
1.19%
|
|
Return on average
common equity
|
10.04%
|
|
11.95%
|
|
12.33%
|
|
11.06%
|
|
13.39%
|
|
11.39%
|
|
12.01%
|
|
Earning asset yield
(TE)
|
4.50%
|
|
4.45%
|
|
4.38%
|
|
4.34%
|
|
4.35%
|
|
4.44%
|
|
4.35%
|
|
Total cost of
funds
|
0.57%
|
|
0.52%
|
|
0.42%
|
|
0.38%
|
|
0.36%
|
|
0.51%
|
|
0.35%
|
|
Net interest margin
(TE)
|
3.95%
|
|
3.95%
|
|
3.97%
|
|
3.95%
|
|
3.99%
|
|
3.96%
|
|
4.01%
|
|
Non-interest income
excluding securities
transactions, as a percent of
total revenue
(TE)
|
25.68%
|
|
27.81%
|
|
27.27%
|
|
27.32%
|
|
31.36%
|
|
26.90%
|
|
31.29%
|
|
Efficiency
ratio
|
67.94%
|
|
61.02%
|
|
61.52%
|
|
67.05%
|
|
61.91%
|
|
63.57%
|
|
66.15%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CAPITAL ADEQUACY
(period end)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders' equity
to assets
|
10.48%
|
|
10.58%
|
|
10.69%
|
|
9.38%
|
|
9.90%
|
|
10.48%
|
|
9.90%
|
|
Tangible common
equity to tangible assets
|
8.81%
|
|
8.84%
|
|
8.86%
|
|
7.46%
|
|
7.90%
|
|
8.81%
|
|
7.90%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EQUITY TO ASSETS
RECONCILIATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tangible common
equity to tangible assets
|
8.81%
|
|
8.84%
|
|
8.86%
|
|
7.46%
|
|
7.90%
|
|
8.81%
|
|
7.90%
|
|
Effect of goodwill
and other intangibles
|
1.67%
|
|
1.74%
|
|
1.82%
|
|
1.92%
|
|
2.00%
|
|
1.67%
|
|
2.00%
|
|
|
Equity to assets
(GAAP)
|
10.48%
|
|
10.58%
|
|
10.69%
|
|
9.38%
|
|
9.90%
|
|
10.48%
|
|
9.90%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER PERIOD-END
DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Banking Division
FTE
|
1,080
|
|
1,082
|
|
1,039
|
|
1,014
|
|
987
|
|
1,080
|
|
987
|
|
Retail Mortgage
Division FTE
|
272
|
|
268
|
|
252
|
|
254
|
|
254
|
|
272
|
|
254
|
|
Warehouse Lending
Division FTE
|
8
|
|
8
|
|
8
|
|
9
|
|
5
|
|
8
|
|
5
|
|
SBA Division
FTE
|
23
|
|
23
|
|
20
|
|
21
|
|
24
|
|
23
|
|
24
|
|
Premium Finance
Division FTE
|
62
|
|
56
|
|
50
|
|
-
|
|
-
|
|
62
|
|
-
|
|
|
Total Ameris Bancorp
FTE Headcount
|
1,445
|
|
1,437
|
|
1,369
|
|
1,298
|
|
1,270
|
|
1,445
|
|
1,270
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets per Banking
Division FTE
|
$
7,083
|
|
$
6,837
|
|
$
6,829
|
|
$
6,797
|
|
$
6,579
|
|
$
7,083
|
|
$
6,579
|
|
Branch
locations
|
97
|
|
97
|
|
97
|
|
97
|
|
99
|
|
97
|
|
99
|
|
Deposits per branch
location
|
$
60,778
|
|
$
59,726
|
|
$
58,169
|
|
$
57,476
|
|
$
53,597
|
|
$
60,778
|
|
$
53,597
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AMERIS
BANCORP
|
FINANCIAL
HIGHLIGHTS
|
(unaudited)
|
(dollars in thousands
except per share data and FTE headcount)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
|
|
Sept.
|
|
Jun.
|
|
Mar.
|
|
Dec.
|
|
Sept.
|
|
Sept.
|
|
Sept.
|
|
|
|
2017
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INCOME
STATEMENT
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest and fees on
loans
|
$
70,462
|
|
$
65,464
|
|
$
61,521
|
|
$
57,982
|
|
$
57,322
|
|
$
197,447
|
|
$
160,677
|
|
Interest on taxable
securities
|
5,062
|
|
5,195
|
|
4,800
|
|
4,348
|
|
4,336
|
|
15,057
|
|
13,476
|
|
Interest on
nontaxable securities
|
392
|
|
401
|
|
416
|
|
425
|
|
397
|
|
1,209
|
|
1,297
|
|
Interest on deposits
in other banks
|
406
|
|
351
|
|
313
|
|
193
|
|
147
|
|
1,070
|
|
634
|
|
Interest on federal
funds sold
|
-
|
|
-
|
|
-
|
|
8
|
|
8
|
|
-
|
|
25
|
|
|
Total interest
income
|
76,322
|
|
71,411
|
|
67,050
|
|
62,956
|
|
62,210
|
|
214,783
|
|
176,109
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest on
deposits
|
$
5,136
|
|
$
4,580
|
|
$
3,763
|
|
$
3,680
|
|
$
3,074
|
|
$
13,479
|
|
$
8,730
|
|
Interest on other
borrowings
|
4,331
|
|
3,674
|
|
2,697
|
|
1,997
|
|
2,069
|
|
10,702
|
|
5,287
|
|
|
Total interest
expense
|
9,467
|
|
8,254
|
|
6,460
|
|
5,677
|
|
5,143
|
|
24,181
|
|
14,017
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income
|
66,855
|
|
63,157
|
|
60,590
|
|
57,279
|
|
57,067
|
|
190,602
|
|
162,092
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for loan
losses
|
1,787
|
|
2,205
|
|
1,836
|
|
1,710
|
|
811
|
|
5,828
|
|
2,381
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income
after provision for loan losses
|
$
65,068
|
|
$
60,952
|
|
$
58,754
|
|
$
55,569
|
|
$
56,256
|
|
$
184,774
|
|
$
159,711
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest
income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Service charges on
deposit accounts
|
$
10,535
|
|
$
10,616
|
|
$
10,563
|
|
$
11,036
|
|
$
11,358
|
|
$
31,714
|
|
$
31,709
|
|
Mortgage banking
activity
|
13,340
|
|
13,943
|
|
11,215
|
|
9,878
|
|
14,067
|
|
38,498
|
|
38,420
|
|
Other service
charges, commissions and fees
|
699
|
|
729
|
|
709
|
|
706
|
|
791
|
|
2,137
|
|
2,869
|
|
Gain(loss) on sale of
securities
|
-
|
|
37
|
|
-
|
|
-
|
|
-
|
|
37
|
|
94
|
|
Other non-interest
income
|
2,425
|
|
2,864
|
|
3,219
|
|
2,652
|
|
2,648
|
|
8,508
|
|
8,437
|
|
|
Total noninterest
income
|
26,999
|
|
28,189
|
|
25,706
|
|
24,272
|
|
28,864
|
|
80,894
|
|
81,529
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest
expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee
benefits
|
32,583
|
|
29,132
|
|
27,794
|
|
25,137
|
|
27,982
|
|
89,509
|
|
81,700
|
|
Occupancy and
equipment expenses
|
6,036
|
|
6,146
|
|
5,877
|
|
6,337
|
|
5,989
|
|
18,059
|
|
18,060
|
|
Data processing and
telecommunications expenses
|
7,050
|
|
7,028
|
|
6,572
|
|
6,244
|
|
6,185
|
|
20,650
|
|
18,347
|
|
Credit resolution
related expenses (1)
|
1,347
|
|
599
|
|
933
|
|
1,083
|
|
1,526
|
|
2,879
|
|
5,089
|
|
Advertising and
marketing expenses
|
1,247
|
|
1,259
|
|
1,106
|
|
1,273
|
|
1,249
|
|
3,612
|
|
2,908
|
|
Amortization of
intangible assets
|
941
|
|
1,013
|
|
1,036
|
|
1,044
|
|
993
|
|
2,990
|
|
3,332
|
|
Merger and conversion
charges
|
92
|
|
-
|
|
402
|
|
17
|
|
-
|
|
494
|
|
6,359
|
|
Other non-interest
expenses
|
14,471
|
|
10,562
|
|
9,373
|
|
13,542
|
|
9,275
|
|
34,406
|
|
25,363
|
|
|
Total noninterest
expense
|
63,767
|
|
55,739
|
|
53,093
|
|
54,677
|
|
53,199
|
|
172,599
|
|
161,158
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before
income taxes
|
$
28,300
|
|
$
33,402
|
|
$
31,367
|
|
$
25,164
|
|
$
31,921
|
|
$
93,069
|
|
$
80,082
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax
expense
|
8,142
|
|
10,315
|
|
10,214
|
|
6,987
|
|
10,364
|
|
28,671
|
|
26,159
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income
|
$
20,158
|
|
$
23,087
|
|
$
21,153
|
|
$
18,177
|
|
$
21,557
|
|
$
64,398
|
|
$
53,923
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings
available to common shareholders
|
0.54
|
|
0.62
|
|
0.59
|
|
0.52
|
|
0.61
|
|
1.74
|
|
1.56
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Includes expenses
associated with problem loans and OREO, as well as OREO losses and
writedowns.
|
|
|
|
|
|
|
|
|
AMERIS
BANCORP
|
FINANCIAL
HIGHLIGHTS
|
(unaudited)
|
(dollars in thousands
except per share data and FTE headcount)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
|
Sept.
|
|
Jun.
|
|
Mar.
|
|
Dec.
|
|
Sept.
|
|
|
|
2017
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
PERIOD-END BALANCE
SHEET
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
Cash and due from
banks
|
$
131,071
|
|
$
139,500
|
|
$
127,164
|
|
$
127,164
|
|
$
123,270
|
|
Federal funds sold
and interest bearing deposits in banks
|
112,844
|
|
137,811
|
|
232,045
|
|
71,221
|
|
90,801
|
|
Investment securities
available for sale, at fair value
|
819,593
|
|
818,693
|
|
830,765
|
|
822,735
|
|
838,124
|
|
Other
investments
|
47,977
|
|
42,495
|
|
35,950
|
|
29,464
|
|
24,578
|
|
Loans held for
sale
|
137,392
|
|
146,766
|
|
105,637
|
|
105,924
|
|
126,263
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans, net of
unearned income
|
4,574,678
|
|
4,230,228
|
|
3,785,480
|
|
3,626,821
|
|
3,091,039
|
|
Purchased loans
(excluding loan pools)
|
917,126
|
|
950,499
|
|
1,006,935
|
|
1,069,191
|
|
1,129,381
|
|
Purchased loan
pools
|
465,218
|
|
490,114
|
|
529,099
|
|
568,314
|
|
624,886
|
|
Less allowance for
loan losses
|
(25,966)
|
|
(25,101)
|
|
(25,250)
|
|
(23,920)
|
|
(22,963)
|
|
|
Loans, net
|
5,931,056
|
|
5,645,740
|
|
5,296,264
|
|
5,240,406
|
|
4,822,343
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other real estate
owned
|
9,391
|
|
11,483
|
|
10,466
|
|
10,874
|
|
10,392
|
|
Purchased other real
estate owned
|
9,946
|
|
11,330
|
|
11,668
|
|
12,540
|
|
15,126
|
|
|
Total other real
estate owned
|
19,337
|
|
22,813
|
|
22,134
|
|
23,414
|
|
25,518
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Premises and
equipment, net
|
119,458
|
|
121,108
|
|
121,610
|
|
121,217
|
|
122,191
|
|
Goodwill
|
125,532
|
|
125,532
|
|
125,532
|
|
125,532
|
|
122,545
|
|
Other intangibles,
net
|
14,437
|
|
15,378
|
|
16,391
|
|
17,428
|
|
18,472
|
|
Deferred income
taxes, net
|
39,365
|
|
41,124
|
|
41,505
|
|
40,776
|
|
37,626
|
|
Cash value of bank
owned life insurance
|
79,241
|
|
78,834
|
|
78,442
|
|
78,053
|
|
77,637
|
|
Other
assets
|
72,517
|
|
62,064
|
|
61,417
|
|
88,697
|
|
64,127
|
|
|
Total
assets
|
$
7,649,820
|
|
$
7,397,858
|
|
$
7,094,856
|
|
$
6,892,031
|
|
$
6,493,495
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
|
|
Deposits:
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-bearing
|
$
1,718,022
|
|
$
1,672,918
|
|
$
1,654,723
|
|
$
1,573,389
|
|
$
1,563,316
|
|
|
Interest-bearing
|
4,177,482
|
|
4,120,479
|
|
3,987,646
|
|
4,001,774
|
|
3,742,782
|
|
Total
deposits
|
5,895,504
|
|
5,793,397
|
|
5,642,369
|
|
5,575,163
|
|
5,306,098
|
|
Federal funds
purchased & securities sold under
|
|
|
|
|
|
|
|
|
|
|
|
agreements to
repurchase
|
14,156
|
|
18,400
|
|
40,415
|
|
53,505
|
|
42,647
|
|
Other
borrowings
|
808,572
|
|
679,591
|
|
525,669
|
|
492,321
|
|
373,461
|
|
Subordinated
deferrable interest debentures
|
85,220
|
|
84,889
|
|
84,559
|
|
84,228
|
|
83,898
|
|
Other
liabilities
|
44,447
|
|
38,899
|
|
43,628
|
|
40,377
|
|
44,808
|
|
|
Total
liabilities
|
6,847,899
|
|
6,615,176
|
|
6,336,640
|
|
6,245,594
|
|
5,850,912
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders'
equity
|
|
|
|
|
|
|
|
|
|
Preferred
stock
|
$
-
|
|
$
-
|
|
$
-
|
|
$
-
|
|
$
-
|
Common
stock
|
38,706
|
|
38,698
|
|
38,603
|
|
36,378
|
|
36,348
|
Capital
surplus
|
506,779
|
|
505,803
|
|
503,543
|
|
410,276
|
|
409,630
|
Retained
earnings
|
267,694
|
|
251,259
|
|
231,894
|
|
214,454
|
|
199,769
|
Accumulated
other comprehensive income (loss)
|
3,241
|
|
1,421
|
|
(1,209)
|
|
(1,058)
|
|
10,449
|
Less treasury
stock
|
(14,499)
|
|
(14,499)
|
|
(14,615)
|
|
(13,613)
|
|
(13,613)
|
|
|
Total shareholders'
equity
|
801,921
|
|
782,682
|
|
758,216
|
|
646,437
|
|
642,583
|
|
|
Total liabilities and
shareholders' equity
|
$
7,649,820
|
|
$
7,397,858
|
|
$
7,094,856
|
|
$
6,892,031
|
|
$
6,493,495
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
Data
|
|
|
|
|
|
|
|
|
|
Earning
Assets
|
7,074,828
|
|
6,816,606
|
|
6,525,911
|
|
6,293,670
|
|
5,925,072
|
Intangible
Assets
|
139,969
|
|
140,910
|
|
141,923
|
|
142,960
|
|
141,017
|
Interest Bearing
Liabilities
|
5,085,430
|
|
4,903,359
|
|
4,638,289
|
|
4,631,828
|
|
4,242,788
|
Average
Assets
|
7,461,367
|
|
7,152,024
|
|
6,915,965
|
|
6,573,344
|
|
6,330,350
|
Average Common
Stockholders' Equity
|
796,856
|
|
774,664
|
|
695,830
|
|
653,991
|
|
640,382
|
AMERIS
BANCORP
|
FINANCIAL
HIGHLIGHTS
|
(unaudited)
|
(dollars in thousands
except per share data and FTE headcount)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
|
|
Sept.
|
|
Jun.
|
|
Mar.
|
|
Dec.
|
|
Sept.
|
|
Sept.
|
|
Sept.
|
|
|
|
2017
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ASSET QUALITY
INFORMATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan
losses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning
of period
|
$
25,101
|
|
$
25,250
|
|
$
23,920
|
|
$
22,963
|
|
$
21,734
|
|
$
23,920
|
|
$
21,062
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for loan
loss
|
1,787
|
|
2,205
|
|
1,836
|
|
1,710
|
|
811
|
|
5,828
|
|
2,381
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Charge-offs
|
2,443
|
|
3,284
|
|
1,102
|
|
1,686
|
|
1,451
|
|
6,829
|
|
4,641
|
|
|
Recoveries
|
1,521
|
|
930
|
|
596
|
|
933
|
|
1,869
|
|
3,047
|
|
4,161
|
|
Net charge-offs
(recoveries)
|
922
|
|
2,354
|
|
506
|
|
753
|
|
(418)
|
|
3,782
|
|
480
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending
balance
|
$
25,966
|
|
$
25,101
|
|
$
25,250
|
|
$
23,920
|
|
$
22,963
|
|
$
25,966
|
|
$
22,963
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net charge-off
information
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Charge-offs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial, financial
& agricultural
|
$
1,091
|
|
$
701
|
|
$
104
|
|
$
726
|
|
$
326
|
|
$
1,896
|
|
$
1,273
|
|
Real estate -
residential
|
852
|
|
963
|
|
216
|
|
239
|
|
292
|
|
2,031
|
|
883
|
|
Real estate -
commercial & farmland
|
18
|
|
386
|
|
9
|
|
-
|
|
-
|
|
413
|
|
708
|
|
Real estate -
construction & development
|
1
|
|
41
|
|
53
|
|
264
|
|
60
|
|
95
|
|
324
|
|
Consumer
installment
|
320
|
|
438
|
|
164
|
|
159
|
|
74
|
|
922
|
|
192
|
|
Purchased loans
(excluding loan pools)
|
161
|
|
755
|
|
556
|
|
298
|
|
699
|
|
1,472
|
|
1,261
|
|
Purchased loan
pools
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
Total
charge-offs
|
2,443
|
|
3,284
|
|
1,102
|
|
1,686
|
|
1,451
|
|
6,829
|
|
4,641
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Recoveries
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial, financial
& agricultural
|
409
|
|
221
|
|
69
|
|
121
|
|
119
|
|
699
|
|
279
|
|
Real estate -
residential
|
56
|
|
73
|
|
61
|
|
23
|
|
40
|
|
190
|
|
368
|
|
Real estate -
commercial & farmland
|
26
|
|
121
|
|
9
|
|
78
|
|
13
|
|
156
|
|
191
|
|
Real estate -
construction & development
|
126
|
|
98
|
|
20
|
|
16
|
|
131
|
|
244
|
|
474
|
|
Consumer
installment
|
17
|
|
44
|
|
17
|
|
8
|
|
78
|
|
78
|
|
119
|
|
Purchased loans
(excluding loan pools)
|
887
|
|
373
|
|
420
|
|
687
|
|
1,488
|
|
1,680
|
|
2,730
|
|
Purchased loan
pools
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
Total
recoveries
|
1,521
|
|
930
|
|
596
|
|
933
|
|
1,869
|
|
3,047
|
|
4,161
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net charge-offs
(recoveries)
|
$
922
|
|
$
2,354
|
|
$
506
|
|
$
753
|
|
$
(418)
|
|
$
3,782
|
|
$
480
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-accrual loans
(excluding purchased loans)
|
15,325
|
|
17,083
|
|
18,281
|
|
18,114
|
|
16,379
|
|
15,325
|
|
16,379
|
Non-accrual purchased
loans
|
19,049
|
|
17,357
|
|
23,606
|
|
22,966
|
|
23,827
|
|
19,049
|
|
23,827
|
Non-accrual purchased
loan pools
|
915
|
|
918
|
|
-
|
|
-
|
|
864
|
|
915
|
|
864
|
Foreclosed assets
(excluding purchased assets)
|
9,391
|
|
11,483
|
|
10,466
|
|
10,874
|
|
10,392
|
|
9,391
|
|
10,392
|
Purchased other real
estate owned
|
9,946
|
|
11,330
|
|
11,668
|
|
12,540
|
|
15,126
|
|
9,946
|
|
15,126
|
Accruing loans
delinquent 90 days or more
(excluding purchased loans)
|
2,941
|
|
1,784
|
|
933
|
|
-
|
|
-
|
|
2,941
|
|
-
|
Accruing purchased
loans delinquent 90 days or
more
|
-
|
|
147
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Total
non-performing assets
|
57,567
|
|
60,102
|
|
64,954
|
|
64,494
|
|
66,588
|
|
57,567
|
|
66,588
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-performing assets
as a percent of total assets
|
0.75%
|
|
0.81%
|
|
0.92%
|
|
0.94%
|
|
1.03%
|
|
0.75%
|
|
1.03%
|
Net charge offs as a
percent of average loans
(annualized)
|
0.06%
|
|
0.17%
|
|
0.04%
|
|
0.06%
|
|
-0.04%
|
|
0.09%
|
|
0.01%
|
Net charge offs,
excluding purchased loans as a
percent of average loans
(annualized)
|
0.15%
|
|
0.20%
|
|
0.04%
|
|
0.14%
|
|
0.05%
|
|
0.13%
|
|
0.10%
|
AMERIS
BANCORP
|
FINANCIAL
HIGHLIGHTS
|
(unaudited)
|
(dollars in thousands
except per share data and FTE headcount)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the quarter
ended:
|
|
|
|
Sept.
|
|
Jun.
|
|
Mar.
|
|
Dec.
|
|
Sept.
|
|
|
Loans by
Type
|
2017
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
|
Commercial, financial
& agricultural
|
$
1,307,209
|
|
$
1,218,633
|
|
$
1,061,599
|
|
$
967,138
|
|
$
625,947
|
|
|
Real estate -
construction & development
|
550,189
|
|
486,858
|
|
415,029
|
|
363,045
|
|
328,308
|
|
|
Real estate -
commercial & farmland
|
1,558,882
|
|
1,519,002
|
|
1,458,110
|
|
1,406,219
|
|
1,297,582
|
|
|
Real estate -
residential
|
969,289
|
|
857,069
|
|
726,795
|
|
781,018
|
|
766,933
|
|
|
Consumer
installment
|
183,314
|
|
147,505
|
|
115,919
|
|
96,915
|
|
68,305
|
|
|
Other
|
5,795
|
|
1,161
|
|
8,028
|
|
12,486
|
|
3,964
|
|
|
Total Legacy (excluding purchased loans)
|
$
4,574,678
|
|
$
4,230,228
|
|
$
3,785,480
|
|
$
3,626,821
|
|
$
3,091,039
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial, financial
& agricultural
|
$
80,895
|
|
$
87,612
|
|
$
89,897
|
|
$
96,537
|
|
$
100,426
|
|
|
Real estate -
construction & development
|
68,583
|
|
73,567
|
|
82,378
|
|
81,368
|
|
89,319
|
|
|
Real estate -
commercial & farmland
|
500,169
|
|
510,312
|
|
538,046
|
|
576,355
|
|
604,076
|
|
|
Real estate -
residential
|
264,312
|
|
275,504
|
|
292,911
|
|
310,277
|
|
330,626
|
|
|
Consumer
installment
|
3,167
|
|
3,504
|
|
3,703
|
|
4,654
|
|
4,934
|
|
|
Total Purchased loans (net of discounts)
|
$
917,126
|
|
$
950,499
|
|
$
1,006,935
|
|
$
1,069,191
|
|
$
1,129,381
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial, financial
& agricultural
|
$
-
|
|
$
-
|
|
$
-
|
|
$
-
|
|
$
-
|
|
|
Real estate -
construction & development
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
Real estate -
commercial & farmland
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
Real estate -
residential
|
465,218
|
|
490,114
|
|
529,099
|
|
568,314
|
|
624,886
|
|
|
Consumer
installment
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
Total Purchased loan pools
|
$
465,218
|
|
$
490,114
|
|
$
529,099
|
|
$
568,314
|
|
$
624,886
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Loan
Portfolio:
|
|
|
|
|
|
|
|
|
|
|
|
Commercial, financial
& agricultural
|
$
1,388,104
|
|
$
1,306,245
|
|
$
1,151,496
|
|
$
1,063,675
|
|
$
726,373
|
|
|
Real estate -
construction & development
|
618,772
|
|
560,425
|
|
497,407
|
|
444,413
|
|
417,627
|
|
|
Real estate -
commercial & farmland
|
2,059,051
|
|
2,029,314
|
|
1,996,156
|
|
1,982,574
|
|
1,901,658
|
|
|
Real estate -
residential
|
1,698,819
|
|
1,622,687
|
|
1,548,805
|
|
1,659,609
|
|
1,722,445
|
|
|
Consumer
installment
|
186,481
|
|
151,009
|
|
119,622
|
|
101,569
|
|
73,239
|
|
|
Other
|
5,795
|
|
1,161
|
|
8,028
|
|
12,486
|
|
3,964
|
|
|
Total Loans
|
$
5,957,022
|
|
$
5,670,841
|
|
$
5,321,514
|
|
$
5,264,326
|
|
$
4,845,306
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Troubled Debt
Restructurings, excluding purchased loans:
|
|
|
|
|
|
|
|
|
|
|
Accruing loan
types:
|
|
|
|
|
|
|
|
|
|
|
|
Commercial, financial
& agricultural
|
$
44
|
|
$
40
|
|
$
42
|
|
$
47
|
|
$
53
|
|
|
Real estate -
construction & development
|
424
|
|
429
|
|
435
|
|
686
|
|
691
|
|
|
Real estate -
commercial & farmland
|
4,769
|
|
4,859
|
|
3,944
|
|
4,119
|
|
5,535
|
|
|
Real estate -
residential
|
7,209
|
|
6,829
|
|
9,220
|
|
9,340
|
|
7,713
|
|
|
Consumer
installment
|
6
|
|
12
|
|
18
|
|
17
|
|
21
|
|
|
Total Accruing TDRs
|
$
12,452
|
|
$
12,169
|
|
$
13,659
|
|
$
14,209
|
|
$
14,013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-accruing loan
types:
|
|
|
|
|
|
|
|
|
|
|
|
Commercial, financial
& agricultural
|
$
129
|
|
$
136
|
|
$
142
|
|
$
114
|
|
$
112
|
|
|
Real estate -
construction & development
|
34
|
|
34
|
|
34
|
|
35
|
|
35
|
|
|
Real estate -
commercial & farmland
|
209
|
|
192
|
|
1,617
|
|
2,970
|
|
2,015
|
|
|
Real estate -
residential
|
1,212
|
|
1,975
|
|
998
|
|
738
|
|
849
|
|
|
Consumer
installment
|
130
|
|
133
|
|
129
|
|
130
|
|
120
|
|
|
Total Non-accrual TDRs
|
$
1,714
|
|
$
2,470
|
|
$
2,920
|
|
$
3,987
|
|
$
3,131
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Troubled
Debt Restructurings
|
$
14,166
|
|
$
14,639
|
|
$
16,579
|
|
$
18,196
|
|
$
17,144
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following
table presents the loan portfolio by risk grade, excluding
purchased loans:
|
|
|
|
|
|
|
|
|
Grade 10 - Prime
credit
|
$
510,262
|
|
$
490,514
|
|
$
420,814
|
|
$
414,564
|
|
$
398,781
|
|
|
Grade 15 - Good
credit
|
692,217
|
|
631,141
|
|
587,180
|
|
539,147
|
|
190,389
|
|
|
Grade 20 -
Satisfactory credit
|
2,003,173
|
|
1,875,308
|
|
1,718,749
|
|
1,669,998
|
|
1,608,265
|
|
|
Grade 23 -
Performing, under-collateralized credit
|
14,977
|
|
15,386
|
|
20,889
|
|
23,186
|
|
22,763
|
|
|
Grade 25 - Minimum
acceptable credit
|
1,277,969
|
|
1,147,786
|
|
958,623
|
|
907,588
|
|
797,148
|
|
|
Grade 30 - Other
asset especially mentioned
|
36,143
|
|
32,871
|
|
37,298
|
|
29,172
|
|
31,764
|
|
|
Grade 40 -
Substandard
|
39,930
|
|
37,116
|
|
41,821
|
|
43,067
|
|
41,929
|
|
|
Grade 50 -
Doubtful
|
7
|
|
106
|
|
106
|
|
99
|
|
-
|
|
|
Grade 60 -
Loss
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
Total
|
$
4,574,678
|
|
$
4,230,228
|
|
$
3,785,480
|
|
$
3,626,821
|
|
$
3,091,039
|
|
|
|
|
|
|
|
|
|
|
|
|
The following
table presents the purchased loan portfolio by risk
grade:
|
|
|
|
|
|
|
|
|
|
|
Grade 10 - Prime
credit
|
$
4,039
|
|
$
5,959
|
|
$
6,017
|
|
$
6,536
|
|
$
6,543
|
|
|
Grade 15 - Good
credit
|
107,097
|
|
39,391
|
|
38,179
|
|
40,786
|
|
42,257
|
|
|
Grade 20 -
Satisfactory credit
|
275,855
|
|
327,449
|
|
365,434
|
|
334,353
|
|
341,544
|
|
|
Grade 23 -
Performing, under-collateralized credit
|
19,859
|
|
22,058
|
|
22,081
|
|
27,475
|
|
31,841
|
|
|
Grade 25 - Minimum
acceptable credit
|
411,776
|
|
459,903
|
|
476,954
|
|
569,026
|
|
604,272
|
|
|
Grade 30 - Other
asset especially mentioned
|
50,696
|
|
41,869
|
|
43,450
|
|
35,032
|
|
50,691
|
|
|
Grade 40 -
Substandard
|
47,804
|
|
53,870
|
|
54,820
|
|
55,983
|
|
52,233
|
|
|
Grade 50 -
Doubtful
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
Grade 60 -
Loss
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
Total
|
$
917,126
|
|
$
950,499
|
|
$
1,006,935
|
|
$
1,069,191
|
|
$
1,129,381
|
|
|
|
|
|
|
|
|
|
|
|
|
The following
table presents the purchased loan pools by risk
grade:
|
|
|
|
|
|
|
|
|
|
|
Grade 20 -
Satisfactory credit
|
$
464,303
|
|
$
489,196
|
|
$
528,181
|
|
$
567,389
|
|
$
624,022
|
|
|
Grade 40 -
Substandard
|
915
|
|
918
|
|
918
|
|
925
|
|
864
|
|
|
Total
|
$
465,218
|
|
$
490,114
|
|
$
529,099
|
|
$
568,314
|
|
$
624,886
|
AMERIS
BANCORP
|
FINANCIAL
HIGHLIGHTS
|
(unaudited)
|
(dollars in thousands
except per share data and FTE headcount)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
|
|
Sept.
|
|
Jun.
|
|
Mar.
|
|
Dec.
|
|
Sept.
|
|
Sept.
|
|
Sept.
|
|
|
|
2017
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AVERAGE
BALANCES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal funds
sold
|
$
-
|
|
$
-
|
|
$
-
|
|
$
5,261
|
|
$
5,500
|
|
$
-
|
|
$
6,293
|
|
|
Interest bearing
deposits in banks
|
109,266
|
|
121,810
|
|
147,385
|
|
122,538
|
|
85,051
|
|
126,014
|
|
127,767
|
|
|
Investment securities
- taxable
|
760,907
|
|
766,375
|
|
759,850
|
|
770,373
|
|
767,421
|
|
762,381
|
|
756,378
|
|
|
Investment securities
- nontaxable
|
60,862
|
|
63,210
|
|
65,374
|
|
66,566
|
|
68,325
|
|
63,132
|
|
68,935
|
|
|
Other
investments
|
42,687
|
|
37,375
|
|
37,392
|
|
19,732
|
|
21,687
|
|
39,171
|
|
15,375
|
|
|
Loans held for
sale
|
126,798
|
|
110,933
|
|
77,617
|
|
102,926
|
|
105,859
|
|
105,296
|
|
96,340
|
|
|
Loans
|
4,379,082
|
|
3,994,213
|
|
3,678,149
|
|
3,145,714
|
|
2,897,771
|
|
4,018,597
|
|
2,642,498
|
|
|
Purchased loans
(excluding loan pools)
|
937,595
|
|
973,521
|
|
1,034,983
|
|
1,101,907
|
|
1,199,175
|
|
982,033
|
|
1,147,821
|
|
|
Purchased loan
pools
|
475,742
|
|
516,949
|
|
547,057
|
|
590,617
|
|
629,666
|
|
513,750
|
|
629,118
|
|
|
Total
Earning Assets
|
$
6,892,939
|
|
$
6,584,386
|
|
$
6,347,807
|
|
$
5,925,634
|
|
$
5,780,455
|
|
$
6,610,374
|
|
$
5,490,525
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest bearing
deposits
|
$
1,654,467
|
|
$
1,615,001
|
|
$
1,604,495
|
|
$
1,592,073
|
|
$
1,546,211
|
|
$
1,624,837
|
|
$
1,490,152
|
|
|
NOW
accounts
|
1,201,151
|
|
1,154,364
|
|
1,169,567
|
|
1,253,849
|
|
1,085,828
|
|
1,175,143
|
|
1,103,385
|
|
|
MMDA
|
1,682,306
|
|
1,621,487
|
|
1,486,972
|
|
1,435,958
|
|
1,435,151
|
|
1,597,637
|
|
1,375,835
|
|
|
Savings
accounts
|
278,991
|
|
278,666
|
|
268,741
|
|
262,782
|
|
266,344
|
|
275,504
|
|
261,148
|
|
|
Retail CDs <
$100,000
|
437,641
|
|
441,556
|
|
444,195
|
|
445,132
|
|
431,570
|
|
441,107
|
|
434,898
|
|
|
Retail CDs >
$100,000
|
582,598
|
|
560,320
|
|
517,354
|
|
497,113
|
|
451,115
|
|
553,663
|
|
433,607
|
|
|
Brokered
CDs
|
-
|
|
-
|
|
-
|
|
3,750
|
|
5,000
|
|
-
|
|
3,704
|
|
|
Total
Deposits
|
5,837,154
|
|
5,671,394
|
|
5,491,324
|
|
5,490,657
|
|
5,221,219
|
|
5,667,891
|
|
5,102,729
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal funds
purchased and securities sold
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
under agreements to
repurchase
|
19,414
|
|
27,088
|
|
42,589
|
|
44,000
|
|
37,305
|
|
$
29,612
|
|
$
44,433
|
|
|
FHLB
advances
|
608,413
|
|
483,583
|
|
525,583
|
|
222,426
|
|
265,202
|
|
539,496
|
|
126,855
|
|
|
Other
borrowings
|
75,590
|
|
75,625
|
|
47,738
|
|
38,728
|
|
49,345
|
|
66,420
|
|
47,809
|
|
|
Subordinated
deferrable interest debentures
|
85,040
|
|
84,710
|
|
84,379
|
|
84,050
|
|
83,719
|
|
84,712
|
|
79,912
|
|
|
Total
Non-Deposit Funding
|
788,457
|
|
671,006
|
|
700,289
|
|
389,204
|
|
435,571
|
|
720,240
|
|
299,009
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Funding
|
$
6,625,611
|
|
$
6,342,400
|
|
$
6,191,613
|
|
$
5,879,861
|
|
$
5,656,790
|
|
$
6,388,131
|
|
$
5,401,738
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AMERIS
BANCORP
|
FINANCIAL
HIGHLIGHTS
|
(unaudited)
|
(dollars in thousands
except per share data and FTE headcount)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
|
|
Sept.
|
|
Jun.
|
|
Mar.
|
|
Dec.
|
|
Sept.
|
|
Sept.
|
|
Sept.
|
|
|
|
2017
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INTEREST
INCOME/EXPENSE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INTEREST
INCOME
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal funds
sold
|
$
-
|
|
$
-
|
|
$
-
|
|
$
8
|
|
$
8
|
|
$
-
|
|
$
25
|
|
|
Interest bearing
deposits in banks
|
406
|
|
351
|
|
313
|
|
193
|
|
147
|
|
1,070
|
|
634
|
|
|
Investment securities
- taxable
|
5,062
|
|
5,195
|
|
4,800
|
|
4,348
|
|
4,336
|
|
15,057
|
|
13,476
|
|
|
Investment securities
- nontaxable (TE)
|
603
|
|
617
|
|
640
|
|
654
|
|
536
|
|
1,860
|
|
1,751
|
|
|
Loans held for
sale
|
1,131
|
|
1,058
|
|
653
|
|
989
|
|
826
|
|
2,842
|
|
2,402
|
|
|
Loans (TE)
|
53,383
|
|
47,255
|
|
43,157
|
|
37,418
|
|
33,672
|
|
143,796
|
|
93,887
|
|
|
Purchased loans
(excluding loan pools)
|
14,058
|
|
14,765
|
|
15,173
|
|
17,015
|
|
19,296
|
|
43,996
|
|
53,348
|
|
|
Purchased loan
pools
|
3,491
|
|
3,786
|
|
3,832
|
|
3,950
|
|
4,346
|
|
11,109
|
|
13,220
|
|
|
Total Earning
Assets
|
$
78,135
|
|
$
73,027
|
|
$
68,568
|
|
$
64,575
|
|
$
63,167
|
|
$
219,730
|
|
$
178,743
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accretion Income (included above)
|
2,725
|
|
2,896
|
|
2,810
|
|
3,370
|
|
3,604
|
|
8,431
|
|
10,742
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INTEREST
EXPENSE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-interest bearing
deposits
|
$
-
|
|
$
-
|
|
$
-
|
|
$
-
|
|
$
-
|
|
$
-
|
|
$
-
|
|
|
NOW
accounts
|
600
|
|
520
|
|
497
|
|
613
|
|
433
|
|
1,617
|
|
1,340
|
|
|
MMDA
|
2,316
|
|
2,008
|
|
1,538
|
|
1,405
|
|
1,241
|
|
5,862
|
|
3,449
|
|
|
Savings
accounts
|
47
|
|
45
|
|
43
|
|
44
|
|
45
|
|
135
|
|
133
|
|
|
Retail CDs <
$100,000
|
684
|
|
636
|
|
562
|
|
553
|
|
493
|
|
1,882
|
|
1,481
|
|
|
Retail CDs >
$100,000
|
1,489
|
|
1,371
|
|
1,123
|
|
1,060
|
|
854
|
|
3,983
|
|
2,309
|
|
|
Brokered
CDs
|
-
|
|
-
|
|
-
|
|
6
|
|
8
|
|
0
|
|
18
|
|
|
Total
Deposits
|
5,136
|
|
4,580
|
|
3,763
|
|
3,681
|
|
3,074
|
|
13,479
|
|
8,730
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal funds
purchased and securities sold
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
under agreements to
repurchase
|
11
|
|
13
|
|
20
|
|
21
|
|
18
|
|
44
|
|
77
|
|
|
FHLB
advances
|
1,849
|
|
1,238
|
|
907
|
|
328
|
|
393
|
|
3,994
|
|
571
|
|
|
Other
borrowings
|
1,183
|
|
1,158
|
|
559
|
|
432
|
|
479
|
|
2,900
|
|
1,333
|
|
|
Subordinated
deferrable interest debentures
|
1,288
|
|
1,265
|
|
1,211
|
|
1,216
|
|
1,179
|
|
3,764
|
|
3,306
|
|
|
Total
Non-Deposit Funding
|
4,331
|
|
3,674
|
|
2,697
|
|
1,997
|
|
2,069
|
|
10,702
|
|
5,287
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Funding
|
$
9,467
|
|
$
8,254
|
|
$
6,460
|
|
$
5,678
|
|
$
5,143
|
|
$
24,181
|
|
$
14,017
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Interest
Income (TE)
|
$
68,668
|
|
$
64,773
|
|
$
62,108
|
|
$
58,897
|
|
$
58,024
|
|
$
195,549
|
|
$
164,726
|
|
|
AMERIS
BANCORP
|
FINANCIAL
HIGHLIGHTS
|
(unaudited)
|
(dollars in thousands
except per share data and FTE headcount)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
|
|
Sept.
|
|
Jun.
|
|
Mar.
|
|
Dec.
|
|
Sept.
|
|
Sept.
|
|
Sept.
|
|
|
|
2017
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
YIELDS
(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal funds
sold
|
0.00%
|
|
0.00%
|
|
0.00%
|
|
0.60%
|
|
0.58%
|
|
0.00%
|
|
0.53%
|
|
|
Interest bearing
deposits in banks
|
1.47%
|
|
1.16%
|
|
0.86%
|
|
0.63%
|
|
0.69%
|
|
1.14%
|
|
0.66%
|
|
|
Investment securities
- taxable
|
2.64%
|
|
2.72%
|
|
2.56%
|
|
2.25%
|
|
2.25%
|
|
2.64%
|
|
2.38%
|
|
|
Investment securities
- nontaxable
|
3.93%
|
|
3.91%
|
|
3.97%
|
|
3.91%
|
|
3.12%
|
|
3.94%
|
|
3.39%
|
|
|
Loans held for
sale
|
3.54%
|
|
3.83%
|
|
3.41%
|
|
3.82%
|
|
3.10%
|
|
3.61%
|
|
3.33%
|
|
|
Loans
|
4.84%
|
|
4.75%
|
|
4.76%
|
|
4.73%
|
|
4.62%
|
|
4.78%
|
|
4.75%
|
|
|
Purchased loans
(excluding loan pools)
|
5.95%
|
|
6.08%
|
|
5.95%
|
|
6.14%
|
|
6.40%
|
|
5.99%
|
|
6.21%
|
|
|
Purchased loan
pools
|
2.91%
|
|
2.94%
|
|
2.84%
|
|
2.66%
|
|
2.75%
|
|
2.89%
|
|
2.81%
|
|
|
Total
Earning Assets
|
4.50%
|
|
4.45%
|
|
4.38%
|
|
4.34%
|
|
4.35%
|
|
4.44%
|
|
4.35%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest bearing
deposits
|
0.00%
|
|
0.00%
|
|
0.00%
|
|
0.00%
|
|
0.00%
|
|
0.00%
|
|
0.00%
|
|
|
NOW
accounts
|
0.20%
|
|
0.18%
|
|
0.17%
|
|
0.19%
|
|
0.16%
|
|
0.18%
|
|
0.16%
|
|
|
MMDA
|
0.55%
|
|
0.50%
|
|
0.42%
|
|
0.39%
|
|
0.34%
|
|
0.49%
|
|
0.33%
|
|
|
Savings
accounts
|
0.07%
|
|
0.06%
|
|
0.06%
|
|
0.07%
|
|
0.07%
|
|
0.07%
|
|
0.07%
|
|
|
Retail CDs <
$100,000
|
0.62%
|
|
0.58%
|
|
0.51%
|
|
0.49%
|
|
0.45%
|
|
0.57%
|
|
0.45%
|
|
|
Retail CDs >
$100,000
|
1.01%
|
|
0.98%
|
|
0.88%
|
|
0.85%
|
|
0.75%
|
|
0.96%
|
|
0.71%
|
|
|
Brokered
CDs
|
0.00%
|
|
0.00%
|
|
0.00%
|
|
0.64%
|
|
0.64%
|
|
0.00%
|
|
0.65%
|
|
|
Total
Deposits
|
0.35%
|
|
0.32%
|
|
0.28%
|
|
0.27%
|
|
0.23%
|
|
0.32%
|
|
0.23%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal funds
purchased and securities sold
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
under agreements to
repurchase
|
0.22%
|
|
0.19%
|
|
0.19%
|
|
0.19%
|
|
0.19%
|
|
0.20%
|
|
0.23%
|
|
|
FHLB
advances
|
1.21%
|
|
1.03%
|
|
0.70%
|
|
0.59%
|
|
0.59%
|
|
0.99%
|
|
0.60%
|
|
|
Other
borrowings
|
6.21%
|
|
6.14%
|
|
4.75%
|
|
4.44%
|
|
3.86%
|
|
5.84%
|
|
3.72%
|
|
|
Subordinated
deferrable interest debentures
|
6.01%
|
|
5.99%
|
|
5.82%
|
|
5.76%
|
|
5.60%
|
|
5.94%
|
|
5.53%
|
|
|
Total
Non-Deposit Funding
|
2.18%
|
|
2.20%
|
|
1.56%
|
|
2.04%
|
|
1.89%
|
|
1.99%
|
|
2.36%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total funding
(2)
|
0.57%
|
|
0.52%
|
|
0.42%
|
|
0.38%
|
|
0.36%
|
|
0.51%
|
|
0.35%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
spread
|
3.93%
|
|
3.93%
|
|
3.96%
|
|
3.95%
|
|
3.99%
|
|
3.93%
|
|
4.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest margin
(3)
|
3.95%
|
|
3.95%
|
|
3.97%
|
|
3.95%
|
|
3.99%
|
|
3.96%
|
|
4.01%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Interest and
average rates are calculated on a tax-equivalent basis using an
effective tax rate of 35%.
|
|
|
|
|
|
|
|
|
(2) Rate calculated
based on total average funding including non-interest bearing
deposits.
|
|
|
|
|
|
|
|
|
|
|
(3) Rate calculated
based on average earning assets.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AMERIS
BANCORP
|
FINANCIAL
HIGHLIGHTS
|
(unaudited)
|
(dollars in thousands
except per share data and FTE headcount)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
|
|
Sept.
|
|
Jun.
|
|
Mar.
|
|
Dec.
|
|
Sept.
|
|
Sept.
|
|
Sept.
|
|
|
Adjusted Operating
Net Income Reconciliation
|
2017
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income available
to common shareholders
|
$
20,158
|
|
$
23,087
|
|
$
21,153
|
|
$
18,177
|
|
$
21,557
|
|
$
64,398
|
|
$
53,923
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Merger and conversion
charges
|
92
|
|
-
|
|
402
|
|
17
|
|
-
|
|
494
|
|
6,359
|
|
|
Certain compliance
resolution expenses
|
4,729
|
|
-
|
|
-
|
|
5,750
|
|
-
|
|
4,729
|
|
-
|
|
|
Financial impact of
Hurricane Irma
|
410
|
|
-
|
|
-
|
|
-
|
|
-
|
|
410
|
|
-
|
|
|
Losses (gains) on the
sale of premises
|
91
|
|
570
|
|
295
|
|
430
|
|
238
|
|
956
|
|
562
|
|
|
Tax effect of
management-adjusted charges
|
(1,863)
|
|
(200)
|
|
(244)
|
|
(2,169)
|
|
(83)
|
|
(2,306)
|
|
(2,422)
|
|
|
Plus: After tax
management-adjusted charges
|
3,459
|
|
371
|
|
453
|
|
4,028
|
|
155
|
|
4,283
|
|
4,499
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted
Operating Net income
|
23,617
|
|
23,458
|
|
21,606
|
|
22,205
|
|
21,712
|
|
68,681
|
|
58,422
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted operating
net income per diluted share:
|
$
0.63
|
|
$
0.63
|
|
$
0.60
|
|
$
0.63
|
|
$
0.62
|
|
$
1.86
|
|
$
1.69
|
|
|
Adjusted operating
return on average assets
|
1.26%
|
|
1.32%
|
|
1.27%
|
|
1.34%
|
|
1.36%
|
|
1.28%
|
|
1.29%
|
|
|
Adjusted operating
return on average common
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
tangible equity
|
14.28%
|
|
14.86%
|
|
15.84%
|
|
17.25%
|
|
17.31%
|
|
14.94%
|
|
16.70%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
|
|
Sept.
|
|
Jun.
|
|
Mar.
|
|
Dec.
|
|
Sept.
|
|
Sept.
|
|
Sept.
|
|
|
Net Interest
Margin and Yields on Total Loans
|
2017
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
|
|
Excluding Accretion Reconciliation
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Interest Income
(TE)
|
$
78,135
|
|
$
73,027
|
|
$
68,568
|
|
$
64,575
|
|
$
63,167
|
|
$
219,730
|
|
$
178,743
|
|
|
Accretion Income
|
2,725
|
|
2,896
|
|
2,810
|
|
3,370
|
|
3,604
|
|
8,431
|
|
10,742
|
|
|
Total Interest Income
(TE) Excluding Accretion
|
$
75,410
|
|
$
70,131
|
|
$
65,758
|
|
$
61,205
|
|
$
59,563
|
|
$
211,299
|
|
$
168,001
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Interest
Expense
|
$
9,467
|
|
$
8,254
|
|
$
6,460
|
|
$
5,677
|
|
$
5,143
|
|
$
24,181
|
|
$
14,017
|
|
|
Net Interest Income
(TE) Excluding Accretion
|
$
65,943
|
|
$
61,877
|
|
$
59,298
|
|
$
55,528
|
|
$
54,420
|
|
$
187,118
|
|
$
153,984
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Yield on Total Loans
(TE) Excluding Accretion
|
4.65%
|
|
4.59%
|
|
4.56%
|
|
4.51%
|
|
4.49%
|
|
4.60%
|
|
4.50%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Interest Margin
(TE) Excluding Accretion
|
3.80%
|
|
3.77%
|
|
3.79%
|
|
3.73%
|
|
3.75%
|
|
3.78%
|
|
3.75%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
|
|
Sept.
|
|
Jun.
|
|
Mar.
|
|
Dec.
|
|
Sept.
|
|
Sept.
|
|
Sept.
|
|
|
Management-Adjusted Operating
Expenses
|
2017
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating
expenses
|
63,767
|
|
55,739
|
|
53,093
|
|
54,677
|
|
53,199
|
|
172,599
|
|
161,158
|
|
|
Less:
Management-adjusted charges
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Merger and conversion
expenses
|
(92)
|
|
-
|
|
(402)
|
|
(17)
|
|
-
|
|
(494)
|
|
(6,359)
|
|
|
Certain
compliance resolution expenses
|
(4,729)
|
|
-
|
|
-
|
|
(5,750)
|
|
-
|
|
(4,729)
|
|
-
|
|
|
Financial impact of Hurricane Irma
|
(410)
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(410)
|
|
-
|
|
|
Gains/(Losses) on the sale of premises
|
(91)
|
|
(570)
|
|
(295)
|
|
(430)
|
|
(238)
|
|
(956)
|
|
(562)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Management-adjusted
operating expenses
|
$
58,445
|
|
$
55,169
|
|
$
52,396
|
|
$
48,480
|
|
$
52,961
|
|
$
166,010
|
|
$
154,237
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Management-adjusted
operating efficiency ratio (TE)
|
61.09%
|
|
59.37%
|
|
59.67%
|
|
58.29%
|
|
60.95%
|
|
60.06%
|
|
62.66%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
|
|
Sept.
|
|
Jun.
|
|
Mar.
|
|
Dec.
|
|
Sept.
|
|
Sept.
|
|
Sept.
|
|
|
Tangible Book
Value per Share Reconciliation
|
2017
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total shareholders'
equity
|
$
801,921
|
|
$
782,682
|
|
$
758,216
|
|
$
646,437
|
|
$
642,583
|
|
$
801,921
|
|
$
642,583
|
|
|
Less:
Goodwill
|
125,532
|
|
125,532
|
|
125,532
|
|
125,532
|
|
122,545
|
|
$
125,532
|
|
122,545
|
|
|
Less:Other
intangibles, net
|
14,437
|
|
15,378
|
|
16,391
|
|
17,428
|
|
18,472
|
|
14,437
|
|
18,472
|
|
|
Total tangible
shareholders' equity
|
$
661,952
|
|
$
641,772
|
|
$
616,293
|
|
$
503,477
|
|
$
501,566
|
|
$
661,952
|
|
$
501,566
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Period-end number of
shares
|
37,231,049
|
|
37,222,904
|
|
37,128,714
|
|
34,921,474
|
|
34,891,304
|
|
37,231,049
|
|
34,891,304
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tangible book value
per share (period end)
|
$
17.78
|
|
$
17.24
|
|
$
16.60
|
|
$
14.42
|
|
$
14.38
|
|
$
17.78
|
|
$
14.38
|
|
|
AMERIS
BANCORP
|
FINANCIAL
HIGHLIGHTS
|
(unaudited)
|
(dollars in thousands
except per share data and FTE headcount)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
|
|
Sept.
|
|
Jun.
|
|
Mar.
|
|
Dec.
|
|
Sept.
|
|
Sept.
|
|
Sept.
|
|
|
Segment
Reporting
|
2017
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Banking
Division:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
interest income
|
$
53,600
|
|
$
51,800
|
|
$
50,126
|
|
$
50,528
|
|
$
51,653
|
|
$
155,526
|
|
$
147,956
|
|
|
Provision for loan losses
|
1,037
|
|
1,491
|
|
1,982
|
|
502
|
|
57
|
|
4,510
|
|
1,471
|
|
|
Noninterest income
|
13,007
|
|
12,954
|
|
13,013
|
|
13,466
|
|
13,949
|
|
38,974
|
|
39,702
|
|
|
Noninterest expense:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee
benefits
|
20,554
|
|
19,359
|
|
18,844
|
|
17,084
|
|
18,323
|
|
58,757
|
|
55,740
|
|
|
Occupancy
|
5,384
|
|
5,427
|
|
5,257
|
|
5,668
|
|
5,490
|
|
16,068
|
|
16,541
|
|
|
Data
Processing
|
6,357
|
|
6,378
|
|
6,043
|
|
5,841
|
|
5,794
|
|
18,778
|
|
17,299
|
|
|
Other
expenses
|
14,905
|
|
10,209
|
|
9,241
|
|
15,398
|
|
11,533
|
|
34,355
|
|
39,040
|
|
|
Total noninterest expense
|
47,200
|
|
41,373
|
|
39,385
|
|
43,991
|
|
41,140
|
|
127,958
|
|
128,620
|
|
|
Income before income
taxes
|
18,370
|
|
21,890
|
|
21,772
|
|
19,501
|
|
24,405
|
|
62,032
|
|
57,567
|
|
|
Income
Tax
|
4,850
|
|
6,095
|
|
6,856
|
|
5,005
|
|
7,733
|
|
17,801
|
|
18,278
|
|
|
Net
income
|
$
13,520
|
|
$
15,795
|
|
$
14,916
|
|
$
14,496
|
|
$
16,672
|
|
$
44,231
|
|
$
39,289
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail Mortgage
Division:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
interest income
|
$
4,265
|
|
$
3,470
|
|
$
2,976
|
|
$
3,032
|
|
$
2,625
|
|
$
10,711
|
|
$
7,609
|
|
|
Provision for loan losses
|
262
|
|
347
|
|
8
|
|
33
|
|
447
|
|
617
|
|
540
|
|
|
Noninterest income
|
12,257
|
|
13,053
|
|
10,513
|
|
9,036
|
|
13,198
|
|
35,823
|
|
36,126
|
|
|
Noninterest expense:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee
benefits
|
9,792
|
|
7,763
|
|
7,216
|
|
7,098
|
|
8,940
|
|
24,771
|
|
23,591
|
|
|
Occupancy
|
555
|
|
610
|
|
519
|
|
602
|
|
433
|
|
1,684
|
|
1,326
|
|
|
Data
Processing
|
425
|
|
440
|
|
317
|
|
326
|
|
364
|
|
1,182
|
|
974
|
|
|
Other
expenses
|
1,001
|
|
888
|
|
1,141
|
|
1,093
|
|
1,303
|
|
3,030
|
|
3,392
|
|
|
Total noninterest expense
|
11,773
|
|
9,701
|
|
9,193
|
|
9,119
|
|
11,040
|
|
30,667
|
|
29,283
|
|
|
Income before income
taxes
|
4,487
|
|
6,475
|
|
4,288
|
|
2,916
|
|
4,336
|
|
15,250
|
|
13,912
|
|
|
Income
Tax
|
1,475
|
|
2,361
|
|
1,501
|
|
1,021
|
|
1,518
|
|
5,337
|
|
4,870
|
|
|
Net
income
|
$
3,012
|
|
$
4,114
|
|
$
2,787
|
|
$
1,895
|
|
$
2,818
|
|
$
9,913
|
|
$
9,042
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Warehouse Lending
Division:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
interest income
|
$
1,535
|
|
$
1,254
|
|
$
1,105
|
|
$
1,706
|
|
$
1,848
|
|
$
3,894
|
|
$
4,256
|
|
|
Provision for loan losses
|
215
|
|
176
|
|
(232)
|
|
496
|
|
94
|
|
159
|
|
94
|
|
|
Noninterest income
|
583
|
|
438
|
|
319
|
|
462
|
|
555
|
|
1,340
|
|
1,328
|
|
|
Noninterest expense:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee
benefits
|
129
|
|
127
|
|
147
|
|
220
|
|
103
|
|
403
|
|
399
|
|
|
Occupancy
|
1
|
|
1
|
|
1
|
|
1
|
|
1
|
|
3
|
|
3
|
|
|
Data
Processing
|
28
|
|
25
|
|
27
|
|
32
|
|
26
|
|
80
|
|
71
|
|
|
Other
expenses
|
51
|
|
54
|
|
32
|
|
29
|
|
26
|
|
137
|
|
77
|
|
|
Total noninterest expense
|
209
|
|
207
|
|
207
|
|
282
|
|
156
|
|
623
|
|
550
|
|
|
Income before income
taxes
|
1,694
|
|
1,309
|
|
1,449
|
|
1,390
|
|
2,153
|
|
4,452
|
|
4,940
|
|
|
Income
Tax
|
580
|
|
472
|
|
507
|
|
487
|
|
754
|
|
1,559
|
|
1,729
|
|
|
Net
income
|
$
1,114
|
|
$
837
|
|
$
942
|
|
$
904
|
|
$
1,399
|
|
$
2,893
|
|
$
3,211
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SBA
Division:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
interest income
|
$
981
|
|
$
885
|
|
$
907
|
|
$
949
|
|
$
941
|
|
$
2,773
|
|
$
2,271
|
|
|
Provision for loan losses
|
(1)
|
|
51
|
|
48
|
|
571
|
|
213
|
|
98
|
|
276
|
|
|
Noninterest income
|
1,130
|
|
1,718
|
|
1,815
|
|
1,308
|
|
1,162
|
|
4,663
|
|
4,373
|
|
|
Noninterest expense:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee
benefits
|
858
|
|
890
|
|
591
|
|
735
|
|
616
|
|
2,339
|
|
1,970
|
|
|
Occupancy
|
54
|
|
54
|
|
51
|
|
64
|
|
65
|
|
159
|
|
190
|
|
|
Data
Processing
|
9
|
|
2
|
|
1
|
|
1
|
|
1
|
|
12
|
|
3
|
|
|
Other
expenses
|
63
|
|
259
|
|
211
|
|
170
|
|
181
|
|
533
|
|
542
|
|
|
Total noninterest expense
|
984
|
|
1,205
|
|
854
|
|
970
|
|
863
|
|
3,043
|
|
2,705
|
|
|
Income before income
taxes
|
1,128
|
|
1,347
|
|
1,820
|
|
716
|
|
1,027
|
|
4,295
|
|
3,663
|
|
|
Income
Tax
|
394
|
|
472
|
|
637
|
|
251
|
|
359
|
|
1,503
|
|
1,282
|
|
|
Net
income
|
$
734
|
|
$
875
|
|
$
1,183
|
|
$
465
|
|
$
668
|
|
$
2,792
|
|
$
2,381
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Premium Finance
Division:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
interest income
|
$
6,474
|
|
$
5,748
|
|
$
5,476
|
|
$
1,064
|
|
$
-
|
|
$
17,698
|
|
$
-
|
|
|
Provision for loan losses
|
274
|
|
140
|
|
30
|
|
108
|
|
-
|
|
444
|
|
-
|
|
|
Noninterest income
|
22
|
|
26
|
|
46
|
|
-
|
|
-
|
|
94
|
|
-
|
|
|
Noninterest expense:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee
benefits
|
1,250
|
|
993
|
|
996
|
|
-
|
|
-
|
|
3,239
|
|
-
|
|
|
Occupancy
|
42
|
|
54
|
|
49
|
|
2
|
|
-
|
|
145
|
|
-
|
|
|
Data
Processing
|
231
|
|
183
|
|
184
|
|
44
|
|
-
|
|
598
|
|
-
|
|
|
Other
expenses
|
2,078
|
|
2,023
|
|
2,225
|
|
269
|
|
-
|
|
6,326
|
|
-
|
|
|
Total noninterest expense
|
3,601
|
|
3,253
|
|
3,454
|
|
315
|
|
-
|
|
10,308
|
|
-
|
|
|
Income before income
taxes
|
2,621
|
|
2,381
|
|
2,038
|
|
641
|
|
-
|
|
7,040
|
|
-
|
|
|
Income
Tax
|
843
|
|
915
|
|
713
|
|
224
|
|
-
|
|
2,471
|
|
-
|
|
|
Net
income
|
$
1,778
|
|
$
1,466
|
|
$
1,325
|
|
$
417
|
|
$
-
|
|
$
4,569
|
|
$
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Consolidated:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
interest income
|
$
66,855
|
|
$
63,157
|
|
$
60,590
|
|
$
57,279
|
|
$
57,067
|
|
$
190,602
|
|
$
162,092
|
|
|
Provision for loan losses
|
1,787
|
|
2,205
|
|
1,836
|
|
1,710
|
|
811
|
|
5,828
|
|
2,381
|
|
|
Noninterest income
|
26,999
|
|
28,189
|
|
25,706
|
|
24,272
|
|
28,864
|
|
80,894
|
|
81,529
|
|
|
Noninterest expense:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee
benefits
|
32,583
|
|
29,132
|
|
27,794
|
|
25,137
|
|
27,982
|
|
89,509
|
|
81,700
|
|
|
Occupancy
|
6,036
|
|
6,146
|
|
5,877
|
|
6,337
|
|
5,989
|
|
18,059
|
|
18,060
|
|
|
Data
Processing
|
7,050
|
|
7,028
|
|
6,572
|
|
6,244
|
|
6,185
|
|
20,650
|
|
18,347
|
|
|
Other
expenses
|
18,098
|
|
13,433
|
|
12,850
|
|
16,959
|
|
13,043
|
|
44,381
|
|
43,051
|
|
|
Total noninterest expense
|
63,767
|
|
55,739
|
|
53,093
|
|
54,677
|
|
53,199
|
|
172,599
|
|
161,158
|
|
|
Income before income
taxes
|
28,300
|
|
33,402
|
|
31,367
|
|
25,164
|
|
31,921
|
|
93,069
|
|
80,082
|
|
|
Income
Tax
|
8,142
|
|
10,315
|
|
10,214
|
|
6,987
|
|
10,364
|
|
28,671
|
|
26,159
|
|
|
Net
income
|
$
20,158
|
|
$
23,087
|
|
$
21,153
|
|
$
18,177
|
|
$
21,557
|
|
$
64,398
|
|
$
53,923
|
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SOURCE Ameris Bancorp