EX-99.1 2 d533990dex991.htm EX-99.1 EX-99.1
1
st
Quarter 2013
Investor Presentation
Exhibit 99.1

2
Cautionary Statements
This
presentation
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
.
Tangible
common
equity
and
Tier
1
capital
ratios
are
non-GAAP
measures
.
The
Company
calculates
the
Tier
1
capital
using
current
call
report
instructions
.
The
Company’s
management
uses
these
measures
to
assess
the
quality
of
capital
and
believes
that
investors
may
find
them
useful
in
their
evaluation
of
the
Company.
These
capital
measures
may,
or
may
not
be
necessarily
comparable
to
similar
capital
measures
that
may
be
presented
by
other
companies.
This
presentation
may
contain
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.

Corporate Profile
•
Headquartered in Moultrie, Georgia
•
Founded in 1971 as American Banking
Company
•
Historically grown through acquisitions of
smaller banks in areas close to existing
operations
•
Recent growth through de novo expansion
strategy and 10 FDIC-assisted transactions
•
Four state footprint with 57 offices
•
Approximately 820 FTEs managing 200,000
core customer accounts
•
Assets –
$2.9 billion
Loans –
$2.0 billion
Deposits –
$2.5 billion
3

4
Management and Board Ownership of Approximately 7%
Experienced Management Team
Name, Position
Experience
(Banking / Ameris)
Previous Experience
Edwin W. Hortman Jr.
Chief Executive Officer
Andrew B. Cheney
EVP & Chief Operating Officer
Dennis J. Zember Jr.
EVP & Chief Financial Officer
Jon S. Edwards
EVP & Chief Credit Officer
Stephen A. Melton
EVP, Chief Risk Officer
Cindi H. Lewis
EVP, Chief Administrative Officer
T. Stan Limerick
EVP, Chief Information Officer
Colony Bankcorp, Inc.
Barnett Bank, Mercantile Bank
Flag Financial Corporation
NationsBank, Federal Reserve
Columbus Bank & Trust
(lead bank SNV)
Officer at Ameris Bank since 1987
Whitney National Bank
32/14
36/3
19/7
28/13
32/2
36/36
7/1

5
Current Focus
Realize the positive impacts of our Earnings Strategies 
•
Continue to drive double digit growth in loans and low-cost/no-cost funding.
•
Design and implement strategies to build more efficient banking platform.  Rationalize
branch network and position Bank for faster growth in assets.
•
Build additional non-interest income lines of businesses to drive revenue towards the top
quartile of our peer group.  Leverage premier mortgage platform for better profitability.
•
Recognize a reduction in credit related expenses commensurate with the significant
reduction in classified and non-accrual assets.
Position Ameris Bank as a Consolidator in our 4 Southeastern States
•
Complete Integration of Prosperity Bank by end of 3Q 2013 and be at a full run rate on
forecasted accretion by January 1, 2014.
•
Traditional M&A – Continue to build relationships  with potential merger partners as the
pipeline of opportunities in our footprint grows.
•
FDIC Assisted acquisitions – Slowing pipeline of opportunities with mostly non-loss share
opportunities.  Markets still have troubled and weakened institutions that will fail but our
interest is shifting to more traditional M&A.

6
(1)
Excludes covered assets, where applicable
First Quarter Update
dollars in millions, except per share data
Q1 '12
Q2 '12
Q3 '12
Q4 '12
Q1 '13
Change
BALANCE SHEET
Assets
$3,043
$2,920
$2,949
$3,019
$2,862
(5.95)%
Loans, net
1,949
1,941
2,015
2,007
1,996
2.41
Tang Common Equity / Assets
7.95%
8.41%
8.27%
8.23%
8.83%
11.07
Tangible Book Value
$10.15
$10.29
$10.23
$10.39
$10.57
4.14
PERFORMANCE
Pre-tax, pre-credit earnings
$13,634
$14,700
$13,728
$13,728
$14,281
4.75 %
as a percentage of average assets
1.84%
1.99%
1.86%
1.82%
2.00%
Revenue (ex acquisition gains)
$34,954
$37,756
$38,069
$40,672
$39,698
13.57
as a percentage of average assets
4.59%
5.17%
5.16%
5.39%
5.55%
OPEX (ex credit costs)
$21,507
$23,200
$25,104
$24,993
$24,040
11.78
as a percentage of average assets
2.83%
3.18%
3.41%
3.31%
3.36%
Diluted earnings per share
0.19
0.07
0.04
0.15
0.20
5.26
Net interest margin (TE)
4.48 %
4.66 %
4.52 %
4.72 %
4.79 %
6.92
Efficiency ratio (ex credit costs)
61.53%
61.45%
75.68%
65.70%
60.56%
(1.58)
CREDIT QUALITY
(1)
NPAs / Assets
3.03%
2.89%
2.58%
2.61%
2.72%
(10.23)%
Classified Assets / Capital
35.07
32.05
31.44
33.45
31.7
(9.61)
Reserves / Loans
2.17
1.92
1.80
1.63
1.57
(27.65)
Reserves / NPLs
54.90
58.98
67.76
60.67
62.39
13.64

•
Diversified loan portfolio across five regions
–
Inland Georgia –
51%
–
Coastal Georgia –
15%
–
Alabama –
8%
•
In-house lending limit of $7.5 million versus $75 million legal limit
–
5 loans greater than $5 million
•
Loan participations less than 1.00% of total loans
•
Aggressive management of concentrations of credit
•
Top 25 relationships
are only 9.6% of total loans
7
–
South Carolina –
13%
–
Florida –
13%
Loan Type
Average Loan
Size
Average Rate
Investor CRE
$    425,335
5.15 %
C&D
100,350
5.25
Residential
71,248
5.64
C&I
59,384
4.98
O/O CRE
306,921
5.50
Covered loans
143,720
5.38
Consumer
6,579
6.56
Agriculture
110,196
5.70
Total
$     80,464
5.44 %
Loan Portfolio Detail
Loan
Portfolio
Detail
–
3/31/13
Agriculture
9%
C&I
7%
Construction
6%
Non-owner
occupied CRE
15%
Owner
Occupied CRE
15%
Consumer
Installment &
Residential
20%
Covered
28%

Loan Portfolio –
strong loan pipelines
•
Leveraging presence in new markets (top five markets
account for 70% of pipeline: Atlanta, Jacksonville,
Columbia, Savannah, Charleston
•
Upgrading production positions in key markets: limited
changes to expense base but higher levels of quality
production
•
Expanding Mortgage Strategy: Jumbo mortgages,
wholesale, warehouse LOC
•
Leveraging Agricultural expertise:  better yields than in
CRE due to limited competition
•
Specialty lines of business that would diversify loan
portfolio
•
Yields on current production approximately
5.13%
•
2/3
rds
of production is with existing customers –
higher rates (40bps-50bps from relationships)
•
Diversified
loan
types
–
not
solely chasing CRE
or competing with low rates that do not
compensate for term or quality
8
Growth in Loan Pipelines
Lending Strategies
Pipeline
Opportunities
by
Type
1 – Loan pipeline amounts consist of all loans management has deemed a 75% or better likelihood of closing.
1
Comm'l, Finc'l
& Agriculture,
34.9%
Commercial
R/E, 48.3%
Construction,
1.8%
Residential
R/E, 15.0%

9
•
$11.5
million
-
Largest Relationship has  over 3.0x debt coverage, backed by taxing authority of one of
our local markets.
•
1.75x
–
Weighted average debt coverage of our 25 largest relationships.
•
64%
-
Weighted
average
loan
to
value
on
our
25
largest
relationships.
Loan Portfolio
Diversified through smaller relationships as well
Portfolio
comprised
of
smaller
relationships
Relationship Totals in Legacy Portfolio (in millions)
Rank
Total O/S
% of total
Top 10
$      81.81
5.64%
Top 50
$    242.53
16.72%
Top 100
$    376.12
25.93%
Top 200
$    544.95
37.57%
Top 300
$    659.13
45.44%
$11.53
$4.23
$3.11
$2.24
$1.69
$0
$4
$8
$12
25
50
75
100
125
150
Number of Loan Relationships

10
•
$0.44
per
share
–
Additional earnings embedded in today’s Balance Sheet vs. 2008. 
Today’s deposit mix would have reduced interest expense by 30% in 2008, or $16.0 million.
•
Built significant value in our core deposit base
•
Focused
largely
on
“Non-Rate
Sensitive”
deposits
Significant Value in Deposit Portfolio
Future revenue opportunity is large, and growing
Deposit
Composition
–
3/31/13
Deposit
Composition
–
12/31/08
nib, 10%
now/sav,
20%
mmda,
13%
Brokered
CDs, 10%
Retail
CDs, 46%
DDA, 19%
NOW &
Savings, 29%
MMDA, 23%
Retail Time,
27%
Brokered, 1%

11
FDIC Indemnification Asset
Managing towards the end of loss share protection
Bank
Acquisition
Date
Original
Indemnification
Asset (000's)
Current
Indemnification
Asset (000's)
% of Original  
Indem Asset
Remaining
Months remaining
to collect
remainder¹
Original Estimate  
of Losses (000's)
Current Estimate   
of Losses (000's)²
Current Estimate
of Losses as a %
of Original
American United
Oct-09
24,200
2,157
8.9%
20.9
30,250
13,815
45.7%
United Security
Nov-09
21,640
2,068
9.6%
21.9
27,050
34,564
127.8%
Satilla Comm
May-10
22,400
3,547
15.8%
27.9
28,000
25,031
89.4%
First Bank Jax
Nov-10
11,307
5,801
51.3%
33.9
14,134
10,803
76.4%
Tifton Banking
Dec-10
22,807
5,972
26.2%
34.9
28,509
27,098
95.1%
Darby B&T
Dec-10
112,404
37,305
33.2%
34.9
160,577
144,747
90.1%
High Trust
Jul-11
49,485
16,482
33.3%
41.8
61,856
52,439
84.8%
One Georgia
Jul-11
45,488
15,601
34.3%
41.8
56,860
37,875
66.6%
Central Bank Ga
Feb-12
52,664
30,324
57.6%
48.9
65,830
47,630
72.4%
362,395
119,255
32.9%
39.6
473,066
394,002
83.3%
1-
Months remaining to collect remainder of indemnification asset is a weighted average based on
the indemnification asset at 12/31/2012.
2 -
Current
Estimate
of
losses
includes
all
losses
incurred
to
date
as
well as reimbursable expenses
plus expected losses not incurred for which there is a corresponding indemnification asset.

15%+ compounded annual growth rate in total
revenue over the last three years
Revenue has grown faster than earning assets
Significant amount of assets that will be
deployed over the next 3 years that will
significantly boost revenue and earnings
>30% -
CGR for mortgage related
revenue
>21% -
CGR for debit interchange
fees
>8% -
CGR for analysis and
overdraft fees
•
•
2012
revenue
gains
boosted
by
growing
loan
portfolio
and
success
in
non-
interest income strategies.
•
2013-2015 strategy demands:
•
Diversification of revenue with more emphasis on highly profitable
non-interest income LOB’s that enhance ROA and reduce burden on
capital leverage
•
Protect our advantage from strong net interest margins with emphasis on
creating a highly favorable funding mix
12
Earnings –
Continued Growth in Revenue
Revenue growth through this cycle with
opportunistic strategies:
•
•
•
•
•

13
Loans
CDs
Quarter
Yield
Quarter
Yield
Q4 '11
5.38%
Q4 '11
0.67%
Q1 '12
5.48%
Q1 '12
0.65%
Q2 '12
5.45%
Q2 '12
0.54%
Q3 '12
5.28%
Q3 '12
0.51%
Q4 '12
5.11%
Q4 '12
0.44%
Q1 '13
5.13%
Q1 '13
0.49%
•
79.6% of lost revenue from loan repricing covered by CD renewal savings.
•
Management expects limited dilution (5-10bps) in NIM from balance sheet repricing and believes
volume expansion can more than offset revenue impacts.
Earnings -
Net Interest Margin
Net
Interest
Margin
(2)
(%)
“Acquisition Yields”
(1)
Maturity and Repricing Opportunity are amounts and yields maturing in the designated quarter
(2)
Ameris bank net interest margin on a fully taxable-equivalent basis, excludes H/C level TRUPs

Significant
growth
in
mortgage
revenue
–
currently
all
from
retail
activities
•
Still hiring highly experienced, high volume teams
•
Current retail production is $35mm per month, potential
and platform to double in 12-18 months
Wholesale activities gaining traction
•
Hiring experienced relationship managers from large
wholesale players
•
Larger volume opportunity in wholesale relative to retail
activities
14
Serious about building strength and diversification in non-
interest income sources
•
Moving away from deposit charges
•
Researching unique lines of business
•
Momentum in our numbers coming from mortgage
revenue; we believe we can duplicate that strategy
with other LOBs by hiring expertise
Peer group comparison are banks greater than $3 billion
•
BOLI income expected to incr by $1mm in 2013
Earnings –
Non-Interest Income

15
Earnings -
Corporate Restructure & Improved Efficiency
Details regarding the recently announced Corporate Restructuring:
Branch Rationalization – 
•
Closing 20% of our retail branch locations, either in smaller markets or areas where our market share is not
sufficient to drive desired profitability.
•
“At-risk” loans and non-CD deposits in these branches are $59.4 million and $104 million.  We expect to retain 71%
of the loans and 35% of the deposits.
•
Total OPEX for these 13 branches in 2012 were $6.45 million.  Non-interest income totaled $1.39 million.
•
Total expected improvement in operating expenses is $4.9 million in 2013 and $6.5 million in 2014.
Restructuring line divisions – 
•
Restructuring sales and sales efforts in the bank to focus on larger, longer tenured commercial clients
•
Expected savings of $3.6 million resulting mainly from consolidation of 50 positions.
Re-distribution of corporate functions – 
•
Re-distributing certain clerical & support functions to the field
•
Restructuring credit administration and approval process to streamline approval and support of smaller credits.
•
Expected savings of $2.4 million resulting mainly from consolidation of 38 positions.