アメリスバンコープの適時開示・決算・その他

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported):

July 25, 2024

Ameris Bancorp
(Exact Name of Registrant as Specified in Charter)
Georgia	001-13901	58-1456434
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

	3490 Piedmont Road N.E., Suite 1550, Atlanta, Georgia	30305
	(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code:

(404) 639-6500

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $1.00 per share	ABCB	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02

Results of Operations and Financial Condition.

On July 25, 2024, Ameris Bancorp (the “Company”) issued a press release announcing its unaudited financial results for the quarter ended June 30, 2024. A copy of that press release is attached to this Current Report on Form 8-K (this “Report”) as Exhibit 99.1.

The information contained in this Item 2.02 and in Exhibit 99.1 attached to this Report is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of such section. Furthermore, such information shall not be deemed to be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended.

Item 7.01

Regulation FD Disclosure.

A copy of the investor presentation material that the Company will present regarding its earnings during the teleconference beginning at 9:00 a.m. Eastern time on July 26, 2024 is attached to this Report as Exhibit 99.2. The investor presentation material is also available on the “Investor Relations” page of the Company’s website (http://www.amerisbank.com).

The information contained in this Item 7.01 and in Exhibit 99.2 attached to this Report is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of such section. Furthermore, such information shall not be deemed to be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended.

Item 9.01

Financial Statements and Exhibits.

(d) Exhibits.

99.1	Press release dated July 25, 2024

99.2	Investor Presentation re: 2nd Quarter 2024 Results

104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

	AMERIS BANCORP


	By:	/s/ Nicole S. Stokes
		Nicole S. Stokes
		Chief Financial Officer

Date: July 25, 2024

EX-99.1 2 tm2420215d1_ex99-1.htm EXHIBIT 99.1

Exhibit 99.1

News Release

AMERIS BANCORP ANNOUNCES FINANCIAL RESULTS FOR SECOND QUARTER 2024

Highlights of Ameris’s results for the second quarter of 2024 include the following:

Net income of $90.8 million, or $1.32 per diluted share;

Adjusted net income(1) of $80.8 million, or $1.17 per diluted share

Return on average assets ("ROA") of 1.41%; Adjusted ROA(1) of 1.25%

Pre-tax, pre-provision net revenue (PPNR) ROA(1) of 2.25%; Adjustment items positively impacted PPNR ROA by 29 basis points

Growth in tangible book value(1) of $1.27 per share, or 14.8% annualized, to $35.79 at June 30, 2024

TCE ratio(1) of 9.72%, compared with 8.80% one year ago

Net interest margin of 3.58% for the second quarter of 2024, compared with 3.51% in the prior quarter

Organic growth in loans of $392.3 million, or 7.7% annualized

Growth in total deposits of $446.8 million, or 8.6% annualized

Increase in the allowance for loan losses to 1.60% of loans, from 1.55% at March 31, 2024

CRE concentration improved to 274% of capital, from 281% at March 31, 2024

Annualized net charge-offs declined to 0.18% of average total loans

ATLANTA, GA, July 25, 2024 - Ameris Bancorp (NYSE: ABCB) (the “Company”) today reported net income of $90.8 million, or $1.32 per diluted share, for the quarter ended June 30, 2024, compared with $62.6 million, or $0.91 per diluted share, for the quarter ended June 30, 2023. Excluding the gain on sale of mortgage servicing rights, gain on conversion of Visa Class B-1 stock, FDIC special assessment, gain on bank owned life insurance ("BOLI") proceeds and tax expense attributable to BOLI restructuring, adjusted net income(1) was $80.8 million, or $1.17 per diluted share, for the quarter ended June 30, 2024, compared with $62.6 million, or $0.91 per diluted share, for the quarter ended June 30, 2023.

For the year-to-date period ending June 30, 2024, the Company reported net income of $165.1 million, or $2.39 per diluted share, compared with $123.1 million, or $1.78 per diluted share, for the same period in 2023. The year-to-date period ending June 30, 2024 included a provision for credit losses of $39.9 million, compared with $95.2 million for the same period in 2023.

Commenting on the Company’s results, Palmer Proctor, the Company’s Chief Executive Officer, said, “This quarter we achieved outstanding financial performance, marked by margin expansion, growth in net interest income, and an increase in core deposits, resulting in a PPNR ROA exceeding 2%. We enhanced shareholder value, with tangible book value and earning assets both growing over 14% annualized. Looking ahead, we remain optimistic about the rest of 2024 and beyond, driven by our strong balance sheet, thriving Southeastern markets, and disciplined focus on continuous improvement." Net interest income on a tax-equivalent basis (TE) was $212.9 million in the second quarter of 2024, an increase of $10.5 million, or 5.2%, from last quarter and $2.4 million, or 1.1%, compared with the second quarter of 2023.

Net Interest Income and Net Interest Margin

The Company's net interest margin was 3.58% for the second quarter of 2024, up from 3.51% reported for the first quarter of 2024 and down slightly from 3.60% reported for the second quarter of 2023. The increase in net interest margin this quarter compared with the first quarter of 2024 is primarily attributable to improved yield on loans and securities during the period, partially offset by increases in funding costs. During the second quarter of 2024, the Company recognized approximately $2.3 million, or 0.04% to margin, related to positive inflation adjustments on Treasury Inflation-Protected Securities and accelerated accretion on an early bond payoff. The decrease in net interest margin compared with the same period in 2023 is due to the effect of overall increases in deposit costs over the last year, partially offset by increased loan yields. The rate of change in deposit costs continues to slow as market interest rates stabilize.

Yields on earning assets increased 13 basis points during the quarter to 5.86%, compared with 5.73% in the first quarter of 2024, and increased 34 basis points from 5.52% in the second quarter of 2023. Yields on loans increased to 6.00% during the second quarter of 2024, compared with 5.92% for the first quarter of 2024 and 5.66% for the second quarter of 2023.

The Company’s total cost of funds was 2.48% in the second quarter of 2024, an increase of seven and 43 basis points compared with the first quarter of 2024 and second quarter of 2023, respectively. Deposit costs increased only three basis points during the second quarter of 2024 to 2.32%, compared with 2.29% in the first quarter of 2024. Costs of interest-bearing deposits increased during the quarter from 3.31% in the first quarter of 2024 to 3.37% in the second quarter of 2024, reflecting an increase in money market account balances and costs.

Noninterest Income

Noninterest income increased $22.8 million, or 34.7%, in the second quarter of 2024 to $88.7 million, compared with $65.9 million for the first quarter of 2024, primarily as a result of mortgage revenue and gain on securities. Mortgage banking activity increased by $7.0 million, or 17.7%, to $46.4 million in the second quarter of 2024, compared with $39.4 million for the first quarter of 2024. Gain on sale spreads decreased slightly to 2.45% in the second quarter of 2024 from 2.49% for the first quarter of 2024. Total production in the retail mortgage division increased $417.1 million, or 45.8%, to $1.33 billion in the second quarter of 2024, compared with $910.2 million for the first quarter of 2024. The retail mortgage open pipeline was $802.2 million at the end of the second quarter of 2024, compared with $606.7 million for the first quarter of 2024. Also included in noninterest income was a $4.7 million gain from the sale of mortgage servicing rights and a $12.6 million gain on the conversion of Visa Class B-1 shares during the quarter.

Noninterest Expense

Noninterest expense increased $6.6 million, or 4.5%, to $155.4 million during the second quarter of 2024, compared with $148.7 million for the first quarter of 2024. During the second quarter of 2024, the Company recorded an adjustment of ($895,000) related to the FDIC special assessment, compared with $2.9 million in the first quarter of 2024. Excluding this item, adjusted expenses(1) increased approximately $10.5 million, or 7.2%, to $156.3 million in the second quarter of 2024 from $145.8 million in the first quarter of 2024. The increase in adjusted expenses(1) resulted from a $5.3 million increase in salaries and employee benefits primarily in variable compensation related to mortgage production. Also contributing to the increase in adjusted expenses was $2.6 million of less deferred origination costs in our equipment finance division. Advertising and marketing expense increased $1.0 million due to a new deposit marketing campaign initiated in the second quarter. Management continues to focus on operating efficiency, and the adjusted efficiency ratio(1) increased to 55.00% in the second quarter of 2024, compared with 54.56% in the first quarter of 2024.

Income Tax Expense

The Company's effective tax rate for the second quarter of 2024 was 28.2%, compared with 23.7% for the first quarter of 2024. Tax expense for the second quarter of 2024 included a $4.8 million expense related to the termination of certain BOLI policies during the quarter, the proceeds of which the Company will reinvest in higher yielding policies.

Balance Sheet Trends

Total assets at June 30, 2024 were $26.52 billion, compared with $25.20 billion at December 31, 2023. Debt securities available-for-sale increased to $1.53 billion, compared with $1.40 billion at December 31, 2023. Loans, net of unearned income, increased $723.3 million, or 7.2% annualized, to $20.99 billion at June 30, 2024, compared with $20.27 billion at December 31, 2023. Loans held for sale increased to $570.2 million at June 30, 2024 from $281.3 million at December 31, 2023.

At June 30, 2024, total deposits amounted to $21.44 billion, compared with $20.71 billion at December 31, 2023. During the second quarter of 2024, deposits grew $446.8 million, with noninterest bearing accounts increasing $110.9 million, money market accounts increasing $267.0 million, retail CDs increasing $23.6 million and interest bearing demand accounts increasing $65.6 million, with such increases offset in part by a $15.2 million decrease in savings accounts and a $5.2 million decrease in brokered CDs. Noninterest bearing accounts as a percentage of total deposits was minimally changed, such that at June 30, 2024, noninterest bearing deposit accounts represented $6.65 billion, or 31.0% of total deposits, compared with $6.49 billion, or 31.3% of total deposits, at December 31, 2023.

Shareholders’ equity at June 30, 2024 totaled $3.57 billion, an increase of $139.9 million, or 4.1%, from December 31, 2023. The increase in shareholders’ equity was primarily the result of earnings of $165.1 million during the first six months of 2024, partially offset by dividends declared, share repurchases and an increase in other comprehensive loss of $2.1 million resulting from changes in interest rates on the Company's investment portfolio. Tangible book value per share(1) increased $2.15 per share, or 12.9% annualized, during the first six months of 2024 to $35.79 at June 30, 2024. Tangible common equity as a percentage of tangible assets was 9.72% at June 30, 2024, compared with 9.64% at the end of 2023. The Company repurchased 62,700 of its shares in the quarter ending June 30, 2024 at an average cost of $47.12 per share, equating to approximately $3.0 million.

Credit Quality

During the second quarter of 2024, the Company recorded a provision for credit losses of $18.8 million, bringing the allowance for credit losses on loans to a 1.60%, compared with a provision of $21.1 million in the first quarter of 2024. Nonperforming assets as a percentage of total assets were up three basis points to 0.74% during the quarter. Approximately $93.5 million, or 47.3%, of the nonperforming assets at June 30, 2024 were GNMA-guaranteed mortgage loans, which have minimal loss exposure. Excluding these government-guaranteed loans, nonperforming assets as a percentage of total assets increased only one basis point to 0.39% at June 30, 2024, compared with 0.38% at the first quarter of 2024. The net charge-off ratio improved to 18 basis points for the second quarter of 2024, from 25 basis points in the first quarter of 2024.

Conference Call

The Company will host a teleconference at 9:00 a.m. Eastern time on Friday, July 26, 2024, to discuss the Company's results and answer appropriate questions. The conference call can be accessed by dialing 1-844-481-2939. The conference call ID is Ameris Bancorp. A replay of the call will be available beginning one hour after the end of the conference call until August 2, 2024. To listen to the replay, dial 1-877-344-7529. The conference replay access code is 8113235. The financial information discussed will be available on the Investor Relations page of the Ameris Bank website at ir.amerisbank.com. Participants also may listen to a live webcast of the presentation by visiting the link on the Investor Relations page of the Ameris Bank website.

About Ameris Bancorp

Ameris Bancorp is the parent of Ameris Bank, a state-chartered bank headquartered in Atlanta, Georgia. Ameris operates 164 financial centers across the Southeast and also serves consumer and business customers nationwide through select lending channels. Ameris manages $26.5 billion in assets as of June 30, 2024, and provides a full range of traditional banking and lending products, treasury and cash management, insurance premium financing, and mortgage and refinancing services. Learn more about Ameris at www.amerisbank.com.

(1) Considered non-GAAP financial measure - See reconciliation of GAAP to non-GAAP financial measures in tables 9A - 9E.

This news release contains certain performance measures determined by methods other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The Company’s management uses these non-GAAP financial measures in its analysis of the Company’s performance. These measures are useful when evaluating the underlying performance and efficiency of the Company’s operations and balance sheet. The Company’s management believes that these non-GAAP financial measures provide a greater understanding of ongoing operations, enhance comparability of results with prior periods and demonstrate the effects of significant gains and charges in the current period. The Company’s management believes that investors may use these non-GAAP financial measures to evaluate the Company’s financial performance without the impact of unusual items that may obscure trends in the Company’s underlying performance. These disclosures should not be viewed as a substitute for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP financial measures that may be presented by other companies.

This news release contains forward-looking statements, as defined by federal securities laws, including, among other forward-looking statements, certain plans, expectations and goals. Words such as “may,” “believe,” “expect,” “anticipate,” “intend,” “will,” “should,” “plan,” “estimate,” “predict,” “continue” and “potential” or the negative of these terms or other comparable terminology, as well as similar expressions, are meant to identify forward-looking statements. The forward-looking statements in this news release are based on current expectations and are provided to assist in the understanding of potential future performance. Such forward-looking statements involve numerous assumptions, risks and uncertainties that may cause actual results to differ materially from those expressed or implied in any such statements, including, without limitation, the following: general competitive, economic, unemployment, political and market conditions and fluctuations, including real estate market conditions, and the effects of such conditions and fluctuations on the creditworthiness of borrowers, collateral values, asset recovery values and the value of investment securities; movements in interest rates and their impacts on net interest margin, investment security valuations and other performance measures; expectations on credit quality and performance; legislative and regulatory changes; changes in U.S. government monetary and fiscal policy; competitive pressures on product pricing and services; the success and timing of other business strategies; our outlook and long-term goals for future growth; and natural disasters, geopolitical events, acts of war or terrorism or other hostilities, public health crises and other catastrophic events beyond our control. For a discussion of some of the other risks and other factors that may cause such forward-looking statements to differ materially from actual results, please refer to the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and the Company's subsequently filed periodic reports and other filings. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise forward-looking statements.

For more information, contact:

Brady Gailey

Executive Director of Corporate Development (1)Considered non-GAAP financial measure - See reconciliation of GAAP to non-GAAP financial measures in tables 9A - 9E

(404) 240-1517

AMERIS BANCORP AND SUBSIDIARIES

FINANCIAL TABLES

Financial Highlights	Table 1
	Three Months Ended															Six Months Ended
	Jun			Mar			Dec			Sep			Jun			Jun			Jun
(dollars in thousands except per share data)	2024			2024			2023			2023			2023			2024			2023
EARNINGS
Net income	$	90,785		$	74,312		$	65,934		$	80,115		$	62,635		$	165,097		$	123,056
Adjusted net income(1)	$	80,763		$	75,612		$	73,568		$	80,115		$	62,635		$	156,375		$	122,570

COMMON SHARE DATA
Earnings per share available to common shareholders
Basic	$	1.32		$	1.08		$	0.96		$	1.16		$	0.91		$	2.40		$	1.78
Diluted	$	1.32		$	1.08		$	0.96		$	1.16		$	0.91		$	2.39		$	1.78
Adjusted diluted EPS(1)	$	1.17		$	1.10		$	1.07		$	1.16		$	0.91		$	2.27		$	1.77
Cash dividends per share	$	0.15		$	0.15		$	0.15		$	0.15		$	0.15		$	0.30		$	0.30
Book value per share (period end)	$	51.64		$	50.42		$	49.62		$	48.41		$	47.51		$	51.64		$	47.51
Tangible book value per share (period end)(1)	$	35.79		$	34.52		$	33.64		$	32.38		$	31.42		$	35.79		$	31.42
Weighted average number of shares
Basic		68,824,150			68,808,393			68,824,004			68,879,352			68,989,549			68,818,618			69,084,746
Diluted		69,013,834			69,014,116			69,014,793			68,994,247			69,034,763			69,010,010			69,191,512
Period end number of shares		69,066,573			69,115,263			69,053,341			69,138,461			69,139,783			69,066,573			69,139,783
Market data
High intraday price	$	51.18		$	53.99		$	53.84		$	45.34		$	37.18		$	53.99		$	50.54
Low intraday price	$	44.23		$	44.00		$	34.26		$	33.21		$	28.33		$	44.00		$	28.33
Period end closing price	$	50.35		$	48.38		$	53.05		$	38.39		$	34.21		$	50.35		$	34.21
Average daily volume		301,784			407,898			390,190			361,167			475,198			353,985			463,720

PERFORMANCE RATIOS
Return on average assets		1.41	%		1.18	%		1.03	%		1.25	%		0.98	%		1.30	%		0.98	%
Adjusted return on average assets(1)		1.25	%		1.20	%		1.15	%		1.25	%		0.98	%		1.23	%		0.97	%
Return on average common equity		10.34	%		8.63	%		7.73	%		9.56	%		7.63	%		9.49	%		7.58	%
Adjusted return on average tangible common equity(1)		13.35	%		12.88	%		12.81	%		14.35	%		11.53	%		13.12	%		11.47	%
Earning asset yield (TE)		5.86	%		5.73	%		5.69	%		5.62	%		5.52	%		5.79	%		5.38	%
Total cost of funds		2.48	%		2.41	%		2.32	%		2.24	%		2.05	%		2.44	%		1.82	%
Net interest margin (TE)		3.58	%		3.51	%		3.54	%		3.54	%		3.60	%		3.54	%		3.68	%
Efficiency ratio		51.68	%		55.64	%		56.80	%		52.21	%		53.60	%		53.54	%		52.85	%
Adjusted efficiency ratio (TE)(1)		55.00	%		54.56	%		52.87	%		52.02	%		53.41	%		54.79	%		52.72	%

CAPITAL ADEQUACY (period end)
Shareholders' equity to assets		13.45	%		13.58	%		13.60	%		13.02	%		12.73	%		13.45	%		12.73	%
Tangible common equity to tangible assets(1)		9.72	%		9.71	%		9.64	%		9.11	%		8.80	%		9.72	%		8.80	%

OTHER DATA (period end)
Full time equivalent employees
Banking Division		2,073			2,082			2,088			2,082			2,104			2,073			2,104
Retail Mortgage Division		595			596			595			601			613			595			613
Warehouse Lending Division		9			8			7			8			8			9			8
Premium Finance Division		74			73			75			78			76			74			76
Total Ameris Bancorp FTE headcount		2,751			2,759			2,765			2,769			2,801			2,751			2,801

Branch locations		164			164			164			164			164			164			164
Deposits per branch location	$	130,757		$	128,033		$	126,271		$	125,551		$	124,653		$	130,757		$	124,653

AMERIS BANCORP AND SUBSIDIARIES

FINANCIAL TABLES

Income Statement	Table 2
	Three Months Ended															Six Months Ended
	Jun			Mar			Dec			Sep			Jun			Jun			Jun
(dollars in thousands except per share data)	2024			2024			2023			2023			2023			2024			2023
Interest income
Interest and fees on loans	$	317,664		$	303,393		$	303,487		$	304,699		$	292,012		$	621,057		$	563,976
Interest on taxable securities		16,948			13,092			14,033			14,754			15,915			30,040			30,215
Interest on nontaxable securities		335			330			326			331			339			665			678
Interest on deposits in other banks		12,376			12,637			14,368			10,769			13,686			25,013			22,799
Total interest income		347,323			329,452			332,214			330,553			321,952			676,775			617,668

Interest expense
Interest on deposits		121,245			118,174			111,749			102,999			88,087			239,419			141,269
Interest on other borrowings		14,157			9,890			14,364			19,803			24,325			24,047			55,207
Total interest expense		135,402			128,064			126,113			122,802			112,412			263,466			196,476

Net interest income		211,921			201,388			206,101			207,751			209,540			413,309			421,192

Provision for loan losses		25,348			25,523			30,401			30,095			43,643			50,871			93,019
Provision for unfunded commitments		(6,570	)		(4,422	)		(7,438	)		(5,634	)		1,873			(10,992	)		2,219
Provision for other credit losses		(5	)		4			(11	)		(2	)		—			(1	)		7
Provision for credit losses		18,773			21,105			22,952			24,459			45,516			39,878			95,245
Net interest income after provision for credit losses		193,148			180,283			183,149			183,292			164,024			373,431			325,947

Noninterest income
Service charges on deposit accounts		12,672			11,759			12,252			12,092			11,295			24,431			22,231
Mortgage banking activity		46,399			39,430			31,461			36,290			40,742			85,829			72,134
Other service charges, commissions and fees		1,211			1,202			1,234			1,221			975			2,413			1,946
Gain (loss) on securities		12,335			(7	)		(288	)		(16	)		(6	)		12,328			—
Other noninterest income		16,094			13,494			11,589			13,594			14,343			29,588			27,088
Total noninterest income		88,711			65,878			56,248			63,181			67,349			154,589			123,399

Noninterest expense
Salaries and employee benefits		88,201			82,930			75,966			81,898			81,336			171,131			162,246
Occupancy and equipment		12,559			12,885			13,197			12,745			12,522			25,444			25,508
Data processing and communications expenses		15,193			14,654			14,028			12,973			13,451			29,847			26,485
Credit resolution-related expenses(1)		840			486			157			(1,360	)		848			1,326			1,283
Advertising and marketing		3,571			2,545			2,974			2,723			2,627			6,116			6,159
Amortization of intangible assets		4,407			4,422			4,425			4,425			4,688			8,829			9,394
Other noninterest expenses		30,586			30,789			38,264			28,042			32,931			61,375			56,749
Total noninterest expense		155,357			148,711			149,011			141,446			148,403			304,068			287,824

Income before income tax expense		126,502			97,450			90,386			105,027			82,970			223,952			161,522
Income tax expense		35,717			23,138			24,452			24,912			20,335			58,855			38,466
Net income	$	90,785		$	74,312		$	65,934		$	80,115		$	62,635		$	165,097		$	123,056

Diluted earnings per common share	$	1.32		$	1.08		$	0.96		$	1.16		$	0.91		$	2.39		$	1.78

(1) Includes expenses associated with problem loans and OREO, as well as OREO losses and writedowns.

AMERIS BANCORP AND SUBSIDIARIES

FINANCIAL TABLES

Period End Balance Sheet	Table 3
	Jun			Mar			Dec			Sep			Jun
(dollars in thousands)	2024			2024			2023			2023			2023
Assets
Cash and due from banks	$	257,297		$	235,931		$	230,470		$	241,137		$	284,552
Interest-bearing deposits in banks		1,104,897			975,321			936,834			1,304,636			1,034,578
Debt securities available-for-sale, at fair value		1,531,047			1,414,419			1,402,944			1,424,081			1,460,356
Debt securities held-to-maturity, at amortized cost		148,538			147,022			141,512			141,859			142,513
Other investments		96,613			77,480			71,794			104,957			109,656
Loans held for sale		570,180			364,332			281,332			381,466			391,472

Loans, net of unearned income		20,992,603			20,600,260			20,269,303			20,201,079			20,471,759
Allowance for credit losses		(336,218	)		(320,023	)		(307,100	)		(290,104	)		(272,071	)
Loans, net		20,656,385			20,280,237			19,962,203			19,910,975			20,199,688

Other real estate owned		2,213			2,158			6,199			3,397			6,170
Premises and equipment, net		213,255			214,801			216,435			217,564			218,662
Goodwill		1,015,646			1,015,646			1,015,646			1,015,646			1,015,646
Other intangible assets, net		79,120			83,527			87,949			92,375			96,800
Cash value of bank owned life insurance		376,458			396,804			395,778			393,769			391,483
Other assets		469,079			447,767			454,603			465,968			449,042
Total assets	$	26,520,728		$	25,655,445		$	25,203,699		$	25,697,830		$	25,800,618

Liabilities
Deposits
Noninterest-bearing	$	6,649,220		$	6,538,322		$	6,491,639		$	6,589,610		$	6,706,897
Interest-bearing		14,794,923			14,459,068			14,216,870			14,000,735			13,736,228
Total deposits		21,444,143			20,997,390			20,708,509			20,590,345			20,443,125
Other borrowings		946,413			631,380			509,586			1,209,553			1,536,989
Subordinated deferrable interest debentures		131,312			130,814			130,315			129,817			129,319
Other liabilities		432,246			411,123			428,542			421,046			406,555
Total liabilities		22,954,114			22,170,707			21,776,952			22,350,761			22,515,988

Shareholders' Equity
Preferred stock		—			—			—			—			—
Common stock		72,697			72,683			72,516			72,514			72,515
Capital stock		1,950,846			1,948,352			1,945,385			1,942,852			1,939,865
Retained earnings		1,684,218			1,603,832			1,539,957			1,484,424			1,414,742
Accumulated other comprehensive loss, net of tax		(38,020	)		(39,959	)		(35,939	)		(60,818	)		(50,618	)
Treasury stock		(103,127	)		(100,170	)		(95,172	)		(91,903	)		(91,874	)
Total shareholders' equity		3,566,614			3,484,738			3,426,747			3,347,069			3,284,630
Total liabilities and shareholders' equity	$	26,520,728		$	25,655,445		$	25,203,699		$	25,697,830		$	25,800,618

Other Data
Earning assets	$	24,443,878		$	23,578,834		$	23,103,719		$	23,558,078		$	23,610,334
Intangible assets		1,094,766			1,099,173			1,103,595			1,108,021			1,112,446
Interest-bearing liabilities		15,872,648			15,221,262			14,856,771			15,340,105			15,402,536
Average assets		25,954,808			25,295,088			25,341,990			25,525,913			25,631,846
Average common shareholders' equity		3,530,869			3,462,871			3,383,554			3,324,960			3,293,049

AMERIS BANCORP AND SUBSIDIARIES

FINANCIAL TABLES

Asset Quality Information	Table 4
	Three Months Ended															Six Months Ended
	Jun			Mar			Dec			Sep			Jun			Jun			Jun
(dollars in thousands)	2024			2024			2023			2023			2023			2024			2023
Allowance for Credit Losses
Balance at beginning of period	$	357,232		$	348,727		$	339,180		$	326,783		$	295,497		$	348,727		$	258,163

Adoption of ASU 2022-02		—			—			—			—			—			—			(1,711	)

Provision for loan losses		25,348			25,523			30,401			30,095			43,643			50,871			93,019
Provision for unfunded commitments		(6,570	)		(4,422	)		(7,438	)		(5,634	)		1,873			(10,992	)		2,219
Provision for other credit losses		(5	)		4			(11	)		(2	)		—			(1	)		7
Provision for credit losses		18,773			21,105			22,952			24,459			45,516			39,878			95,245

Charge-offs		16,845			18,457			20,104			19,488			20,670			35,302			35,626
Recoveries		7,692			5,857			6,699			7,426			6,440			13,549			10,712
Net charge-offs (recoveries)		9,153			12,600			13,405			12,062			14,230			21,753			24,914

Ending balance	$	366,852		$	357,232		$	348,727		$	339,180		$	326,783		$	366,852		$	326,783

Allowance for loan losses	$	336,218		$	320,023		$	307,100		$	290,104		$	272,071		$	336,218		$	272,071
Allowance for unfunded commitments		30,566			37,136			41,558			48,996			54,630			30,566			54,630
Allowance for other credit losses		68			73			69			80			82			68			82
Total allowance for credit losses	$	366,852		$	357,232		$	348,727		$	339,180		$	326,783		$	366,852		$	326,783

Non-Performing Assets
Nonaccrual portfolio loans	$	85,878		$	80,448		$	60,961		$	53,806		$	57,025		$	85,878		$	57,025
Other real estate owned		2,213			2,158			6,199			3,397			6,170			2,213			6,170
Repossessed assets		22			29			17			22			9			22			9
Accruing loans delinquent 90 days or more		15,909			15,811			16,988			11,891			13,424			15,909			13,424
Non-performing portfolio assets	$	104,022		$	98,446		$	84,165		$	69,116		$	76,628		$	104,022		$	76,628
Serviced GNMA-guaranteed mortgage nonaccrual loans		93,520			84,238			90,156			80,752			69,655			93,520			69,655
Total non-performing assets	$	197,542		$	182,684		$	174,321		$	149,868		$	146,283		$	197,542		$	146,283

Asset Quality Ratios
Non-performing portfolio assets as a percent of total assets		0.39	%		0.38	%		0.33	%		0.27	%		0.30	%		0.39	%		0.30	%
Total non-performing assets as a percent of total assets		0.74	%		0.71	%		0.69	%		0.58	%		0.57	%		0.74	%		0.57	%
Net charge-offs as a percent of average loans (annualized)		0.18	%		0.25	%		0.26	%		0.23	%		0.28	%		0.21	%		0.25	%

AMERIS BANCORP AND SUBSIDIARIES

FINANCIAL TABLES

Loan Information	Table 5
	Jun		Mar		Dec		Sep		Jun
(dollars in thousands)	2024		2024		2023		2023		2023
Loans by Type
Commercial, financial and agricultural	$	2,860,973	$	2,758,716	$	2,688,929	$	2,632,836	$	2,718,831
Consumer		217,787		232,993		241,552		259,797		307,486
Indirect automobile		16,335		24,022		34,257		47,108		63,231
Mortgage warehouse		1,070,921		891,336		818,728		852,823		1,147,413
Municipal		454,967		477,567		492,668		497,093		510,410
Premium Finance		1,151,261		998,726		946,562		1,007,334		988,731
Real estate - construction and development		2,336,987		2,264,346		2,129,187		2,236,686		2,217,744
Real estate - commercial and farmland		8,103,634		8,131,248		8,059,754		7,865,389		7,815,779
Real estate - residential		4,779,738		4,821,306		4,857,666		4,802,013		4,702,134
Total loans	$	20,992,603	$	20,600,260	$	20,269,303	$	20,201,079	$	20,471,759

Loans by Risk Grade
Pass	$	20,623,416	$	20,221,302	$	19,846,731	$	19,812,895	$	20,114,816
Other assets especially mentioned		115,477		137,225		203,725		187,449		171,035
Substandard		253,710		241,733		218,847		200,735		185,908
Total loans	$	20,992,603	$	20,600,260	$	20,269,303	$	20,201,079	$	20,471,759

AMERIS BANCORP AND SUBSIDIARIES

FINANCIAL TABLES

Average Balances	Table 6
	Three Months Ended										Six Months Ended
	Jun		Mar		Dec		Sep		Jun		Jun		Jun
(dollars in thousands)	2024		2024		2023		2023		2023		2024		2023
Earning Assets
Interest-bearing deposits in banks	$	899,866	$	923,845	$	936,733	$	864,028	$	998,609	$	911,855	$	929,496
Investment securities - taxable		1,663,841		1,599,705		1,591,567		1,650,164		1,699,096		1,631,773		1,708,222
Investment securities - nontaxable		41,396		41,287		40,227		40,896		42,580		41,341		42,814
Loans held for sale		491,000		323,351		405,080		464,452		577,606		407,175		534,192
Loans		20,820,361		20,320,678		20,252,773		20,371,689		20,164,938		20,570,520		19,993,794
Total Earning Assets	$	23,916,464	$	23,208,866	$	23,226,380	$	23,391,229	$	23,482,829	$	23,562,664	$	23,208,518

Deposits
Noninterest-bearing deposits	$	6,558,427	$	6,403,300	$	6,572,190	$	6,655,191	$	6,729,789	$	6,480,864	$	6,931,852
NOW accounts		3,824,538		3,829,977		3,760,992		3,661,701		3,949,850		3,827,257		4,047,484
MMDA		6,251,719		5,952,389		5,994,361		5,527,731		5,002,590		6,102,054		4,998,417
Savings accounts		781,588		795,887		817,075		915,678		1,009,749		788,738		1,007,693
Retail CDs		2,430,416		2,378,678		2,281,357		2,200,413		2,024,014		2,404,547		1,819,307
Brokered CDs		1,167,174		1,381,382		1,122,684		1,441,854		1,393,206		1,274,278		762,672
Total Deposits		21,013,862		20,741,613		20,548,659		20,402,568		20,109,198		20,877,738		19,567,425
Non-Deposit Funding
Federal funds purchased and securities sold under agreements to repurchase		1		—		—		—		—		—		—
FHLB advances		548,251		219,589		538,096		943,855		1,408,855		383,920		1,687,286
Other borrowings		307,449		308,210		311,091		312,572		316,626		307,829		338,912
Subordinated deferrable interest debentures		131,050		130,551		130,054		129,554		129,056		130,801		128,808
Total Non-Deposit Funding		986,751		658,350		979,241		1,385,981		1,854,537		822,550		2,155,006
Total Funding	$	22,000,613	$	21,399,963	$	21,527,900	$	21,788,549	$	21,963,735	$	21,700,288	$	21,722,431

AMERIS BANCORP AND SUBSIDIARIES

FINANCIAL TABLES

Interest Income and Interest Expense (TE)	Table 7
	Three Months Ended										Six Months Ended
	Jun		Mar		Dec		Sep		Jun		Jun		Jun
(dollars in thousands)	2024		2024		2023		2023		2023		2024		2023
Interest Income
Interest-bearing deposits in banks	$	12,376	$	12,637	$	14,368	$	10,769	$	13,686	$	25,013	$	22,799
Debt securities - taxable		16,948		13,092		14,033		14,754		15,915		30,040		30,215
Debt securities - nontaxable (TE)		423		418		413		418		430		841		859
Loans held for sale		8,189		5,348		6,846		7,460		8,398		13,537		15,405
Loans (TE)		310,347		298,907		297,501		298,102		284,471		609,254		550,273
Total Earning Assets	$	348,283	$	330,402	$	333,161	$	331,503	$	322,900	$	678,685	$	619,551

Interest Expense
Interest-Bearing Deposits
NOW accounts	$	21,020	$	20,574	$	19,293	$	17,255	$	18,003	$	41,594	$	33,036
MMDA		58,332		53,953		54,002		45,683		35,224		112,285		63,033
Savings accounts		984		986		974		1,791		2,296		1,970		3,584
Retail CDs		25,711		24,576		22,257		19,013		14,751		50,287		22,380
Brokered CDs		15,198		18,085		15,223		19,257		17,813		33,283		19,236
Total Interest-Bearing Deposits		121,245		118,174		111,749		102,999		88,087		239,419		141,269
Non-Deposit Funding
FHLB advances		7,167		2,578		7,089		12,543		17,222		9,745		39,670
Other borrowings		3,574		3,879		3,798		3,821		3,902		7,453		9,251
Subordinated deferrable interest debentures		3,416		3,433		3,477		3,439		3,201		6,849		6,286
Total Non-Deposit Funding		14,157		9,890		14,364		19,803		24,325		24,047		55,207
Total Interest-Bearing Funding	$	135,402	$	128,064	$	126,113	$	122,802	$	112,412	$	263,466	$	196,476

Net Interest Income (TE)	$	212,881	$	202,338	$	207,048	$	208,701	$	210,488	$	415,219	$	423,075

AMERIS BANCORP AND SUBSIDIARIES

FINANCIAL TABLES

Yields(1)	Table 8
	Three Months Ended															Six Months Ended
	Jun			Mar			Dec			Sep			Jun			Jun			Jun
	2024			2024			2023			2023			2023			2024			2023
Earning Assets
Interest-bearing deposits in banks		5.53	%		5.50	%		6.09	%		4.94	%		5.50	%		5.52	%		4.95	%
Debt securities - taxable		4.10	%		3.29	%		3.50	%		3.55	%		3.76	%		3.70	%		3.57	%
Debt securities - nontaxable (TE)		4.11	%		4.07	%		4.07	%		4.06	%		4.05	%		4.09	%		4.05	%
Loans held for sale		6.71	%		6.65	%		6.71	%		6.37	%		5.83	%		6.69	%		5.82	%
Loans (TE)		6.00	%		5.92	%		5.83	%		5.81	%		5.66	%		5.96	%		5.55	%
Total Earning Assets		5.86	%		5.73	%		5.69	%		5.62	%		5.52	%		5.79	%		5.38	%

Interest-Bearing Deposits
NOW accounts		2.21	%		2.16	%		2.04	%		1.87	%		1.83	%		2.19	%		1.65	%
MMDA		3.75	%		3.65	%		3.57	%		3.28	%		2.82	%		3.70	%		2.54	%
Savings accounts		0.51	%		0.50	%		0.47	%		0.78	%		0.91	%		0.50	%		0.72	%
Retail CDs		4.25	%		4.16	%		3.87	%		3.43	%		2.92	%		4.21	%		2.48	%
Brokered CDs		5.24	%		5.27	%		5.38	%		5.30	%		5.13	%		5.25	%		5.09	%
Total Interest-Bearing Deposits		3.37	%		3.31	%		3.17	%		2.97	%		2.64	%		3.34	%		2.25	%
Non-Deposit Funding
Federal funds purchased and securities sold under agreements to repurchase		—	%		—	%		—	%		—	%		—	%		—	%		—	%
FHLB advances		5.26	%		4.72	%		5.23	%		5.27	%		4.90	%		5.10	%		4.74	%
Other borrowings		4.68	%		5.06	%		4.84	%		4.85	%		4.94	%		4.87	%		5.50	%
Subordinated deferrable interest debentures		10.48	%		10.58	%		10.61	%		10.53	%		9.95	%		10.53	%		9.84	%
Total Non-Deposit Funding		5.77	%		6.04	%		5.82	%		5.67	%		5.26	%		5.88	%		5.17	%
Total Interest-Bearing Liabilities		3.53	%		3.43	%		3.35	%		3.22	%		2.96	%		3.48	%		2.68	%

Net Interest Spread		2.33	%		2.30	%		2.34	%		2.40	%		2.56	%		2.31	%		2.70	%

Net Interest Margin(2)		3.58	%		3.51	%		3.54	%		3.54	%		3.60	%		3.54	%		3.68	%

Total Cost of Funds(3)		2.48	%		2.41	%		2.32	%		2.24	%		2.05	%		2.44	%		1.82	%

(1) Interest and average rates are calculated on a tax-equivalent basis using an effective tax rate of 21%.

(2) Rate calculated based on average earning assets.

(3) Rate calculated based on total average funding including noninterest-bearing deposits.

AMERIS BANCORP AND SUBSIDIARIES

FINANCIAL TABLES

Non-GAAP Reconciliations

Adjusted Net Income	Table 9A
	Three Months Ended															Six Months Ended
	Jun			Mar			Dec			Sep			Jun			Jun			Jun
(dollars in thousands except per share data)	2024			2024			2023			2023			2023			2024			2023
Net income available to common shareholders	$	90,785		$	74,312		$	65,934		$	80,115		$	62,635		$	165,097		$	123,056

Adjustment items:
Gain on sale of MSR		(4,713	)		—			—			—			—			(4,713	)		—
Gain on conversion of Visa Class B-1 stock		(12,554	)		—			—			—			—			(12,554	)		—
Gain on BOLI proceeds		(466	)		(998	)		—			—			—			(1,464	)		(486	)
FDIC special assessment		(895	)		2,909			11,566			—			—			2,014			—
Gain on bank premises		—			—			(1,903	)		—			—			—			—
Tax effect of adjustment items (Note 1)		3,814			(611	)		(2,029	)		—			—			3,203			—
After tax adjustment items		(14,814	)		1,300			7,634			—			—			(13,514	)		(486	)
Tax expense attributable to BOLI restructuring		4,792			—			—			—			—			4,792			—
Adjusted net income	$	80,763		$	75,612		$	73,568		$	80,115		$	62,635		$	156,375		$	122,570

Weighted average number of shares - diluted		69,013,834			69,014,116			69,014,793			68,994,247			69,034,763			69,010,010			69,191,512
Net income per diluted share	$	1.32		$	1.08		$	0.96		$	1.16		$	0.91		$	2.39		$	1.78
Adjusted net income per diluted share	$	1.17		$	1.10		$	1.07		$	1.16		$	0.91		$	2.27		$	1.77

Average assets	$	25,954,808		$	25,295,088		$	25,341,990		$	25,525,913		$	25,631,846		$	25,624,948		$	25,375,312
Return on average assets		1.41	%		1.18	%		1.03	%		1.25	%		0.98	%		1.30	%		0.98	%
Adjusted return on average assets		1.25	%		1.20	%		1.15	%		1.25	%		0.98	%		1.23	%		0.97	%

Average common equity	$	3,530,869		$	3,462,871		$	3,383,554		$	3,324,960		$	3,293,049		$	3,496,870		$	3,271,787
Average tangible common equity	$	2,433,958		$	2,361,544		$	2,277,810		$	2,214,775		$	2,178,323		$	2,397,751		$	2,154,720
Return on average common equity		10.34	%		8.63	%		7.73	%		9.56	%		7.63	%		9.49	%		7.58	%
Adjusted return on average tangible common equity		13.35	%		12.88	%		12.81	%		14.35	%		11.53	%		13.12	%		11.47	%

Note 1: Tax effect is calculated utilizing a 21% rate for taxable adjustments. Gain on BOLI proceeds is non-taxable and no tax effect is included.

AMERIS BANCORP AND SUBSIDIARIES

FINANCIAL TABLES

Non-GAAP Reconciliations (continued)

Adjusted Efficiency Ratio (TE)	Table 9B
	Three Months Ended															Six Months Ended
	Jun			Mar			Dec			Sep			Jun			Jun			Jun
(dollars in thousands)	2024			2024			2023			2023			2023			2024			2023
Adjusted Noninterest Expense
Total noninterest expense	$	155,357		$	148,711		$	149,011		$	141,446		$	148,403		$	304,068		$	287,824
Adjustment items:
FDIC special assessment		895			(2,909	)		(11,566	)		—			—			(2,014	)		—
Gain on bank premises		—			—			1,903			—			—			—			—
Adjusted noninterest expense	$	156,252		$	145,802		$	139,348		$	141,446		$	148,403		$	302,054		$	287,824

Total Revenue
Net interest income	$	211,921		$	201,388		$	206,101		$	207,751		$	209,540		$	413,309		$	421,192
Noninterest income		88,711			65,878			56,248			63,181			67,349			154,589			123,399
Total revenue	$	300,632		$	267,266		$	262,349		$	270,932		$	276,889		$	567,898		$	544,591

Adjusted Total Revenue
Net interest income (TE)	$	212,881		$	202,338		$	207,048		$	208,701		$	210,488		$	415,219		$	423,075
Noninterest income		88,711			65,878			56,248			63,181			67,349			154,589			123,399
Total revenue (TE)		301,592			268,216			263,296			271,882			277,837			569,808			546,474
Adjustment items:
(Gain) loss on securities		(12,335	)		7			288			16			6			(12,328	)		—
Gain on sale of MSR		(4,713	)		—			—			—			—			(4,713	)		—
Gain on BOLI proceeds		(466	)		(998	)		—			—			—			(1,464	)		(486	)
Adjusted total revenue (TE)	$	284,078		$	267,225		$	263,584		$	271,898		$	277,843		$	551,303		$	545,988

Efficiency ratio		51.68	%		55.64	%		56.80	%		52.21	%		53.60	%		53.54	%		52.85	%
Adjusted efficiency ratio (TE)		55.00	%		54.56	%		52.87	%		52.02	%		53.41	%		54.79	%		52.72	%

Tangible Book Value Per Share	Table 9C
	Three Months Ended										Six Months Ended
	Jun		Mar		Dec		Sep		Jun		Jun		Jun
(dollars in thousands except per share data)	2024		2024		2023		2023		2023		2024		2023
Total shareholders' equity	$	3,566,614	$	3,484,738	$	3,426,747	$	3,347,069	$	3,284,630	$	3,566,614	$	3,284,630
Less:
Goodwill		1,015,646		1,015,646		1,015,646		1,015,646		1,015,646		1,015,646		1,015,646
Other intangibles, net		79,120		83,527		87,949		92,375		96,800		79,120		96,800
Total tangible shareholders' equity	$	2,471,848	$	2,385,565	$	2,323,152	$	2,239,048	$	2,172,184	$	2,471,848	$	2,172,184

Period end number of shares		69,066,573		69,115,263		69,053,341		69,138,461		69,139,783		69,066,573		69,139,783
Book value per share (period end)	$	51.64	$	50.42	$	49.62	$	48.41	$	47.51	$	51.64	$	47.51
Tangible book value per share (period end)	$	35.79	$	34.52	$	33.64	$	32.38	$	31.42	$	35.79	$	31.42

AMERIS BANCORP AND SUBSIDIARIES

FINANCIAL TABLES

Non-GAAP Reconciliations (continued)

Tangible Common Equity to Tangible Assets	Table 9D
	Three Months Ended															Six Months Ended
	Jun			Mar			Dec			Sep			Jun			Jun			Jun
(dollars in thousands except per share data)	2024			2024			2023			2023			2023			2024			2023
Total shareholders' equity	$	3,566,614		$	3,484,738		$	3,426,747		$	3,347,069		$	3,284,630		$	3,566,614		$	3,284,630
Less:
Goodwill		1,015,646			1,015,646			1,015,646			1,015,646			1,015,646			1,015,646			1,015,646
Other intangibles, net		79,120			83,527			87,949			92,375			96,800			79,120			96,800
Total tangible shareholders' equity	$	2,471,848		$	2,385,565		$	2,323,152		$	2,239,048		$	2,172,184		$	2,471,848		$	2,172,184

Total assets	$	26,520,728		$	25,655,445		$	25,203,699		$	25,697,830		$	25,800,618		$	26,520,728		$	25,800,618
Less:
Goodwill		1,015,646			1,015,646			1,015,646			1,015,646			1,015,646			1,015,646			1,015,646
Other intangibles, net		79,120			83,527			87,949			92,375			96,800			79,120			96,800
Total tangible assets	$	25,425,962		$	24,556,272		$	24,100,104		$	24,589,809		$	24,688,172		$	25,425,962		$	24,688,172

Equity to Assets		13.45	%		13.58	%		13.60	%		13.02	%		12.73	%		13.45	%		12.73	%
Tangible Common Equity to Tangible Assets		9.72	%		9.71	%		9.64	%		9.11	%		8.80	%		9.72	%		8.80	%

PPNR ROA	Table 9E
	Three Months Ended															Six Months Ended
	Jun			Mar			Dec			Sep			Jun			Jun			Jun
(dollars in thousands except per share data)	2024			2024			2023			2023			2023			2024			2023
Net income	$	90,785		$	74,312		$	65,934		$	80,115		$	62,635		$	165,097		$	123,056
Plus:
Income taxes		35,717			23,138			24,452			24,912			20,335			58,855			38,466
Provision for credit losses		18,773			21,105			22,952			24,459			45,516			39,878			95,245
PPNR	$	145,275		$	118,555		$	113,338		$	129,486		$	128,486		$	263,830		$	256,767

Average Assets	$	25,954,808		$	25,295,088		$	25,341,990		$	25,525,913		$	25,631,846		$	25,624,948		$	25,375,312

Return on Average Assets (ROA)		1.41	%		1.18	%		1.03	%		1.25	%		0.98	%		1.30	%		0.98	%
PPNR ROA		2.25	%		1.89	%		1.77	%		2.01	%		2.01	%		2.07	%		2.04	%

AMERIS BANCORP AND SUBSIDIARIES

FINANCIAL TABLES

Segment Reporting	Table 10
	Three Months Ended														Six Months Ended
	Jun			Mar			Dec			Sep			Jun		Jun			Jun
(dollars in thousands)	2024			2024			2023			2023			2023		2024			2023
Retail Mortgage Division
Net interest income	$	23,742		$	23,287		$	24,053		$	22,805		$	21,417	$	47,029		$	41,444
Provision for credit losses		(2,882	)		2,332			1,005			2,399			3,278		(550	)		6,131
Noninterest income		50,145			38,765			30,588			35,691			39,808		88,910			70,866
Noninterest expense
Salaries and employee benefits		25,254			21,073			16,996			21,231			21,930		46,327			42,090
Occupancy and equipment expenses		1,008			1,049			1,210			1,182			1,224		2,057			2,507
Data processing and telecommunications expenses		1,276			1,366			1,318			1,052			1,397		2,642			2,466
Other noninterest expenses		13,397			12,530			11,634			12,153			11,859		25,927			23,606
Total noninterest expense		40,935			36,018			31,158			35,618			36,410		76,953			70,669
Income before income tax expense		35,834			23,702			22,478			20,479			21,537		59,536			35,510
Income tax expense		7,525			4,978			4,720			4,301			4,523		12,503			7,457
Net income	$	28,309		$	18,724		$	17,758		$	16,178		$	17,014	$	47,033		$	28,053

Warehouse Lending Division
Net interest income	$	6,292		$	6,028		$	5,965		$	6,008		$	6,166	$	12,320		$	11,866
Provision for credit losses		359			145			(68	)		(589	)		411		504			217
Noninterest income		1,028			740			929			662			1,404		1,768			1,884
Noninterest expense
Salaries and employee benefits		1,124			888			296			924			772		2,012			1,574
Occupancy and equipment expenses		7			7			3			1			—		14			1
Data processing and telecommunications expenses		59			25			51			30			44		84			90
Other noninterest expenses		298			237			229			219			223		535			425
Total noninterest expense		1,488			1,157			579			1,174			1,039		2,645			2,090
Income before income tax expense		5,473			5,466			6,383			6,085			6,120		10,939			11,443
Income tax expense		1,149			1,148			1,340			1,278			1,285		2,297			2,403
Net income	$	4,324		$	4,318		$	5,043		$	4,807		$	4,835	$	8,642		$	9,040

Premium Finance Division
Net interest income	$	8,350		$	7,605		$	7,801		$	9,381		$	8,185	$	15,955		$	16,825
Provision for credit losses		408			(499	)		27			139			572		(91	)		606
Noninterest income		11			10			9			4			9		21			18
Noninterest expense
Salaries and employee benefits		1,900			2,053			1,973			2,308			2,122		3,953			4,319
Occupancy and equipment expenses		70			76			83			89			83		146			142
Data processing and telecommunications expenses		102			79			100			73			66		181			151
Other noninterest expenses		1,095			1,028			1,057			1,027			1,036		2,123			2,133
Total noninterest expense		3,167			3,236			3,213			3,497			3,307		6,403			6,745
Income before income tax expense		4,786			4,878			4,570			5,749			4,315		9,664			9,492
Income tax expense		953			984			945			1,170			869		1,937			1,919
Net income	$	3,833		$	3,894		$	3,625		$	4,579		$	3,446	$	7,727		$	7,573

AMERIS BANCORP AND SUBSIDIARIES

FINANCIAL TABLES

Segment Reporting (continued)	Table 10
	Three Months Ended										Six Months Ended
	Jun		Mar		Dec		Sep		Jun		Jun		Jun
(dollars in thousands)	2024		2024		2023		2023		2023		2024		2023
Banking Division
Net interest income	$	173,537	$	164,468	$	168,282	$	169,557	$	173,772	$	338,005	$	351,057
Provision for credit losses		20,888		19,127		21,988		22,510		41,255		40,015		88,291
Noninterest income		37,527		26,363		24,722		26,824		26,128		63,890		50,631
Noninterest expense
Salaries and employee benefits		59,923		58,916		56,701		57,435		56,512		118,839		114,263
Occupancy and equipment expenses		11,474		11,753		11,901		11,473		11,215		23,227		22,858
Data processing and telecommunications expenses		13,756		13,184		12,559		11,818		11,944		26,940		23,778
Other noninterest expenses		24,614		24,447		32,900		20,431		27,976		49,061		47,421
Total noninterest expense		109,767		108,300		114,061		101,157		107,647		218,067		208,320
Income before income tax expense		80,409		63,404		56,955		72,714		50,998		143,813		105,077
Income tax expense		26,090		16,028		17,447		18,163		13,658		42,118		26,687
Net income	$	54,319	$	47,376	$	39,508	$	54,551	$	37,340	$	101,695	$	78,390

Total Consolidated
Net interest income	$	211,921	$	201,388	$	206,101	$	207,751	$	209,540	$	413,309	$	421,192
Provision for credit losses		18,773		21,105		22,952		24,459		45,516		39,878		95,245
Noninterest income		88,711		65,878		56,248		63,181		67,349		154,589		123,399
Noninterest expense
Salaries and employee benefits		88,201		82,930		75,966		81,898		81,336		171,131		162,246
Occupancy and equipment expenses		12,559		12,885		13,197		12,745		12,522		25,444		25,508
Data processing and telecommunications expenses		15,193		14,654		14,028		12,973		13,451		29,847		26,485
Other noninterest expenses		39,404		38,242		45,820		33,830		41,094		77,646		73,585
Total noninterest expense		155,357		148,711		149,011		141,446		148,403		304,068		287,824
Income before income tax expense		126,502		97,450		90,386		105,027		82,970		223,952		161,522
Income tax expense		35,717		23,138		24,452		24,912		20,335		58,855		38,466
Net income	$	90,785	$	74,312	$	65,934	$	80,115	$	62,635	$	165,097	$	123,056

EX-99.2 3 tm2420215d1_ex99-2.htm EXHIBIT 99.2

Exhibit 99.2

2 nd Quarter 2024 Results Investor Presentation Cautionary Statements 1 This presentation contains forward - looking statements, as defined by federal securities laws, including, among other forward - looking statements, certain plans, expectations and goals . Words such as “may,” “believe,” “expect,” “anticipate,” “intend,” “will,” “should,” “plan,” “estimate,” “predict,” “continue” and “potential” or the negative of these terms or other comparable terminology, as well as similar expressions, are meant to identify forward - looking statements . The forward - looking statements in this presentation are based on current expectations and are provided to assist in the understanding of potential future performance . Such forward - looking statements involve numerous assumptions, risks and uncertainties that may cause actual results to differ materially from those expressed or implied in any such statements, including, without limitation, the following : general competitive, economic, unemployment, political and market conditions and fluctuations, including real estate market conditions, and the effects of such conditions and fluctuations on the creditworthiness of borrowers, collateral values, asset recovery values and the value of investment securities ; movements in interest rates and their impacts on net interest margin, investment security valuations and other performance measures ; expectations on credit quality and performance ; legislative and regulatory changes ; changes in U . S . government monetary and fiscal policy ; competitive pressures on product pricing and services ; the success and timing of other business strategies ; our outlook and long - term goals for future growth ; and natural disasters, geopolitical events, acts of war or terrorism or other hostilities, public health crises and other catastrophic events beyond our control . For a discussion of some of the other risks and other factors that may cause such forward - looking statements to differ materially from actual results, please refer to the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10 - K for the year ended December 31 , 2023 and the Company’s subsequently filed periodic reports and other filings . Forward - looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise forward - looking statements .

Ameris Profile Investment Rationale • Top of peer financial results with culture of discipline – credit, liquidity, expense control, capital • Diversified loan portfolio among geographies and product lines • Strong Southeast markets projected to grow approximately 1 .

7 x the national average over the next five years ( 1 ) • Stable core deposit base with 31 % noninterest - bearing deposits • Experienced executive team with skills and leadership to continue to grow organically Strong History of Earnings 2 Charlotte MSA Tampa MSA Orlando MSA $0.91 $1.16 $1.07 $1.10 $1.17 2.25% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% $- $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 $1.40 2Q23 3Q23 4Q23 1Q24 2Q24 Adjusted Diluted EPS PPNR ROA 1 – Census data obtained from S&P Global Market Intelligence Considered Non - GAAP measures – See reconciliation of GAAP to Non - GAAP measures in Appendix 2Q 2024 Operating Highlights 3 • Net income of $90.8 million, or $1.32 per diluted share; Adjusted net income (1) of $80.8 million, or $1.17 per diluted share • Strong deposit growth of $446.8 million, or 8.6% annualized – Brokered CDs decreased $5.2 million • Net interest income (TE) increased $10.5 million to $212.9 million • PPNR ROA (1) of 2.25% for 2Q24, which includes 29bps positive impact from adjustment items • Growth in tangible book value of $1.27 per share, or 14.8% annualized • TCE ratio (1) of 9.72% • Increase in allowance for credit losses to 1.60% of total loans • Net interest margin improved to 3.58% • Noninterest bearing deposits remain strong at 31.0% of total deposits at June 30, 2024 • Interest - bearing deposit costs increased only 6bps in 2Q24, compared with a 14bps increase in 1Q24 • Organic loan growth of $392.3 million, or 7.7% annualized 1 – Considered Non - GAAP measures – See reconciliation of GAAP to Non - GAAP measures in Appendix 2Q 2024 Strategic Transactions 4 During the second quarter of 2024, the Company executed several strategic transactions: • The Company recognized a $4.7 million gain on sale of mortgage servicing rights – Sale represented approximately 18% of the Company’s MSR portfolio, targeting the most rate sensitive loans – Loss of servicing income will be offset by increased BOLI income from BOLI restructure – Accretive to risk - based capital ratios by approximately 6bps – Sale reduced exposure to fair value fluctuations in down rate scenarios – Provides additional capacity for the Company to add to MSR portfolio through origination activities • The Company recognized $4.8 million in additional tax expense relating to the restructuring of certain BOLI policies – Approximately $110 million in existing policies were surrendered (yield 2.41%) – Proceeds will be reinvested into higher yielding (4.50%) policies which will offset loss of servicing income from MSR sale and improve noninterest income • Ameris participated in the exchange offer by Visa to convert its Class B - 1 shares into Class B - 2 and Class C shares resulting in a gain of $12.6 million upon conversion – Class C shares received can be liquidated by the Company, subject to temporary transfer restrictions

Financial Highlights 5 1 – Considered Non - GAAP measures – See reconciliation of GAAP to Non - GAAP measures in Appendix (dollars in thousands, except per share data) Quarter to Date Results Year to Date Results 2Q24 1Q24 Change 2Q23 Change 2024 2023 Change Net Income $ 90,785 $ 74,312 22% $ 62,635 45% $ 165,097 $ 123,056 34% Adjusted Net Income (1) $ 80,763 $ 75,612 7% $ 62,635 29% $ 156,375 $ 122,570 28% Net Income Per Diluted Share $ 1.32 $ 1.08 22% $ 0.91 45% $ 2.39 $ 1.78 34% Adjusted Net Income Per Share (1) $ 1.17 $ 1.10 6% $ 0.91 29% $ 2.27 $ 1.77 28% Return on Assets 1.41% 1.18% 19% 0.98% 44% 1.30% 0.98% 32% Adjusted Return on Assets (1) 1.25% 1.20% 4% 0.98% 28% 1.23% 0.97% 26% Return on Equity 10.34% 8.63% 20% 7.63% 36% 9.49% 7.58% 25% Return on TCE (1) 15.00% 12.66% 19% 11.53% 30% 13.85% 11.52% 20% Adjusted Return on TCE (1) 13.35% 12.88% 4% 11.53% 16% 13.12% 11.47% 14% Efficiency Ratio 51.68% 55.64% - 7% 53.60% - 4% 53.54% 52.85% 1% Adjusted Efficiency Ratio (1) 55.00% 54.56% 1% 53.41% 3% 54.79% 52.72% 4% Net Interest Margin 3.58% 3.51% 2% 3.60% - 1% 3.54% 3.68% - 4% Strong Net Interest Margin 6 • Net interest income (TE) of $212.9 million in 2Q24, compared with $202.3 million in 1Q24 – Interest income (TE) increased $17.9 million – Interest expense increased $7.3 million • Average earning assets increased $707.6 million • Positive inflation adjustments on TIPS and accelerated accretion on an early bond payoff of $2.3 million positively impacted margin by 0.04% • Noninterest bearing deposits remain above historical levels and were 31.0% of total deposits at quarter end Spread Income and Margin Interest Rate Sensitivity • Asset sensitivity is approaching neutrality in anticipation of a FOMC cut in rates: – - 0.9% asset sensitivity in - 100bps – - 0.4% asset sensitivity in - 50bps – +0.4% asset sensitivity in +50bps – +0.8% asset sensitivity in +100bps • Approximately $10.8 billion of total loans reprice within one year through either maturities or floating rate indices • Cumulative weighted - average beta for all non - maturity deposits through this cycle has been 34% $210.5 $208.7 $207.0 $202.3 $212.9 3.60% 3.54% 3.54% 3.51% 3.58% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50% 4.75% 5.00% 5.25% $180.0 $185.0 $190.0 $195.0 $200.0 $205.0 $210.0 $215.0 $220.0 $225.0 $230.0 2Q23 3Q23 4Q23 1Q24 2Q24 Net Interest Income (TE) (in millions) NIM

Diversified Revenue Stream 7 • Strong revenue base of net interest income from core banking division • Additional revenue provided by our diversified lines of business Mortgage Banking Activity • Mortgage banking activity was 15% of total revenue in 2Q24 • Purchase business increased to 89% in 2Q24 due to strong core relationships with builders and realtors • Gain on sale margin decreased slightly to 2.45% in 2Q24 from 2.49% in 1Q24 Other Noninterest Income • Other Noninterest Income has been a stable contributor to total revenue • 2Q24 includes: – $4.7 million gain on sale of MSRs – $12.6 million gain on conversion of Visa stock • Other Noninterest Income includes: • Fee income from equipment finance group • Gains on sales of SBA loans • BOLI income 76% 77% 79% 75% 71% 15% 13% 12% 15% 15% 9% 10% 9% 10% 14% $277.8 $271.9 $263.3 $268.2 $301.6 0% 20% 40% 60% 80% 100% 120% 2Q23 3Q23 4Q23 1Q24 2Q24 FTE Revenue Sources (in millions) FTE Net Interest Income Mortgage Banking Activity Other Noninterest Income 2.18% 2.15% 1.93% 2.49% 2.45% 0.00% 1.00% 2.00% 3.00% 2Q23 3Q23 4Q23 1Q24 2Q24 Mortgage Gain on Sale Margin Disciplined Expense Control Adjusted Operating Expenses (1) and Efficiency Ratio (1) Expense Highlights 8 • Management continues to deliver high performing operating efficiency • Adjusted efficiency ratio of 55.00% in 2Q24, compared with 54.56% in 1Q24 • Total adjusted operating expenses increased $10.5 million in 2Q24 compared with 1Q24 ‒ Increase of $5.3 million in 2Q24 banking division operating expenses primarily due to: ‒ $2.6 million reduction in deferred origination costs in our equipment finance division ‒ $1.0 million increase in advertising and marketing expense for new deposit campaign ‒ $1.0 million increase in fraud/forgery expense – Net increase of $5.2 million in 2Q24 lines of business primarily due to variable compensation related to production increases 1 – Considered Non - GAAP measures – See reconciliation of GAAP to Non - GAAP measures in Appendix $107.6 $101.2 $104.4 $105.4 $110.7 $40.8 $40.3 $35.0 $40.4 $45.6 20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0 180.0 2Q23 3Q23 4Q23 1Q24 2Q24 Adjusted Operating Expenses (in millions) Banking LOBs 53.41% 52.02% 52.87% 54.56% 55.00% 40.00% 45.00% 50.00% 55.00% 60.00% 65.00% 2Q23 3Q23 4Q23 1Q24 2Q24 Adjusted Efficiency Ratio

Strong Core Deposit Base 9 Deposits by Product Type Deposit Type Balance (in 000s) % of Total Count Average per account (in 000’s) NIB 6,649,220 31.0% 304,119 21.9 NOW 3,934,596 18.4% 43,732 90.0 MMDA 6,399,701 29.8% 32,404 197.5 Savings 773,512 3.6% 64,261 12.0 CD 3,687,114 17.2% 41,350 89.2 Total 21,444,143 100% 485,866 44.1 Managed Uninsured Deposit Exposure • Total deposits grew $446.8 million, or 8.6% annualized, during 2Q24 • Brokered deposits decreased $5.2 million • Noninterest bearing deposits remained strong at 31.0% of total deposits • Uninsured and uncollateralized deposits represent 30.5% of total deposits 2Q24 Highlights Consumer 36% Commercial 43% Public 15% Brokered 6% Deposits by Customer 2Q24 $9.46 (43.9%) $6.58 (30.5%) $0.0 $2.0 $4.0 $6.0 $8.0 $10.0 2Q23 3Q23 4Q23 1Q24 2Q24 Uninsured Deposits (in billions) Uninsured Deposits Uninsured Deposits Excl.

Municipal Deposits Capital Strength 10 Capital Highlights • The Company is well capitalized with minimal unrealized losses in the investment portfolio • CET1 ratio is strong at 11.4% • CET1, net of unrealized losses on bond portfolio, remains strong at 11.2% • Net unrealized losses in AFS portfolio were $47 million at June 30, 2024, representing approximately 3% of book value • No transfers to held - to - maturity (HTM) portfolio – all securities classified as HTM were previously purchased for CRA purposes • Earnings expected to add between 25 - 35 basis points to capital each quarter assuming flat balance sheet • Repurchase plan announced in October 2023 of $100 million with approximately $91.7 million remaining at June 30, 2024 • TCE Ratio of 9.72% at June 30, 2024 Capital ratios are estimated for most recent period end 9.3% 9.6% 9.9% 10.2% 10.2% 10.3% 10.8% 11.2% 11.4% 11.4% 13.4% 14.0% 14.5% 14.6% 14.6% 2Q23 3Q23 4Q23 1Q24 2Q24 Strong Capital Base Leverage Ratio CET1/Tier 1 Capital Ratio Total Capital Ratio 20.81 20.29 20.81 20.44 20.90 22.46 23.69 25.27 26.45 27.46 26.26 26.84 27.89 28.62 29.92 30.79 31.42 32.38 33.64 34.52 35.79 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 $40.00 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 Tangible Book Value Capital and TBV Proven Stewards of Shareholder Value 11 • Management focused on long term growth in TBV (1) , such that over the past five years TBV has grown by 11% annualized • TBV increased $1.27 per share in 2Q24: – $1.16 from retained earnings – $0.03 from impact of OCI – $0.08 from all other items including stock compensation and share repurchases • Repurchased 62,700 shares at an average cost of $47.12 during the quarter 1 – Considered Non - GAAP measures – See reconciliation of GAAP to Non - GAAP measures in Appendix Equipment Finance Acquisition LION Acquisition CECL Adoption

Loan Diversification and Credit Quality Diversified Loan Portfolio 2Q24 Loan Portfolio 13 • Loan portfolio is well diversified across loan types and geographies and managed by a seasoned credit staff • Asset quality metrics remain stable and better than historical averages • CRE concentration declined 7 % to 274% in 2Q24 from 281% in 1Q24 • C&D concentration remained steady at 76% • Non - owner - occupied office loans totaled $1.43 billion at 2Q24, or 6.8% of total loans • Allowance for Credit Losses (ACL) increased to 1.60% of total loans during 2Q24 • SNC exposure is limited to less than 2% of loans Portfolio Highlights Agriculture 1% C&I 24% Municipal 2% Consumer 1% Investor CRE 23% OO CRE 9% Construction 11% Multi - Family 6% SFR Mortgage & HELOC 23% Loan Balance Changes 2Q24 Loan Balance Changes 14 • Loan balances increased $392 million during 2Q24, or 7.7% annualized, the majority being the result of seasonal funding of warehouse lines and increased Premium Finance production (in millions) $180 $153 $102 $73 $(8) $(15) $(23) $(28) $(42) $(100) $(50) $- $50 $100 $150 $200 Warehouse Lending Premium Finance CFIA (1) RE - C&D Indirect Consumer Municipal RE - CRE RE - RES 1 – Commercial, Financial.

Industrial and Agricultural

Allowance for Credit Losses 15 • Increase in reserve during 2Q24 due to potential for negative economic conditions • The ACL on loans equated to 1.60% of total loans at 2Q24, compared with 1.55% at 1Q24 • The ACL on loans totaled $336.2 million at 2Q24, a net increase of $ 16.2 mil lion, or 5.1 %, from 1Q24 • During 2Q24, a provision expense of $18.8 million was recorded 2Q24 CECL Reserve Reserve Summary (in millions) 2Q24 Allowance Coverage Outstanding Balance (MM's) ACL (MM's) % ACL Gross Loans 20,992.6$ 336.2$ 1.60% Unfunded Commitments 3,920.9$ 30.6$ 0.78% ACL / Total Loans + Unfunded 24,913.5$ 366.8$ 1.47% Allowance for Credit Losses 16 2 Q24 A CL Reserve by Loan Type Reserve Methodology • Moody’s June 2024 Baseline (75%) and S2 downside (25%) forecast models provided material inputs into ACL • Primary model drivers included: • US and regional unemployment rates and home price indices • US GDP • US and state - level CRE price index for our five - state footprint • US and regional multifamily vacancy rates Note: OOCRE includes farmland . Investor CRE includes construction loans.

Loan Type Net Outstanding (MM's) ACL (MM's) % ACL 3/31/24 ACL (MM's) Change from 1Q24 CFIA 2,861.0$ 66.5$ 2.33% 63.8$ 2.7$ Consumer Installment 217.8$ 3.5$ 1.58% 3.9$ (0.5)$ Indirect 16.3$ 0.0$ 0.17% 0.0$ (0.0)$ Municipal 455.0$ 0.1$ 0.01% 0.1$ (0.0)$ Premium Finance 1,151.3$ 0.7$ 0.06% 0.6$ 0.1$ OOCRE 2,037.4$ 29.7$ 1.46% 20.4$ 9.3$ Investor CRE 8,403.2$ 169.8$ 2.02% 162.4$ 7.4$ RE - RES 4,779.7$ 63.8$ 1.34% 67.0$ (3.1)$ Warehouse Lending 1,070.9$ 2.1$ 0.20% 1.8$ 0.3$ Grand Total 20,992.6$ 336.2$ 1.60% 320.0$ 16.2$ NPA / Charge - Off Trend 17 • NPAs, as a percentage of total assets and net of GNMA - guaranteed mortgage loans, remained stable at 0.39% at 2Q24 compared with 0.38% at 1Q24 • Total NPAs in creased $14.9 million, to $197.5 million, primarily a result of: • $9.3 million increase in 90+ past due GNMA - guaranteed mortgage loans • $6.6 million downgrade of an investor office loan • Net charge - offs declined to $9.2 million, which equated to an annualized NCO ratio of 0.18% for the quarter 2Q24 Credit Summary ($ in millions) 0.57% 0.58% 0.69% 0.71% 0.74% 0.30% 0.27% 0.33% 0.38% 0.39% 0.00% 0.10% 0.20% 0.30% 0.40% 0.50% 0.60% 0.70% 0.80% 2Q23 3Q23 4Q23 1Q24 2Q24 Non - Performing Assets NPA / Total Assets NPA x GNMA / Total Assets 0.28% 0.23% 0.26% 0.25% 0.18% 0.00% 0.05% 0.10% 0.15% 0.20% 0.25% 0.30% $- $2.0 $4.0 $6.0 $8.0 $10.0 $12.0 $14.0 $16.0 2Q23 3Q23 4Q23 1Q24 2Q24 Net Charge - Offs Net Charge-offs NCO Ratio (Annualized)

Problem Loan Trends 18 • Total criticized loans (including special mention ), excluding GNMA - guaranteed mortgage loans, de creased $19.1 million in 2Q24 • For 2Q24, classified loans, excluding GNMA - guaranteed mortgage loans, in creased $2.7 million • Nonperforming loans, excluding GNMA - guaranteed mortgage loans, increased $5.5 million in 2Q24 • The largest components of criticized loans at 2Q24 were residential mortgages and assisted living facilities Highlights (in millions) Note: Criticized, Classified and Nonperforming loan totals exclude GNMA - guaranteed loans. Ratios expressed as a percentage of Total Loans Net of GNMA - backed Mortgage Loans.

1.40% 1.52% 1.64% 1.43% 1.31% 0.57% 0.59% 0.63% 0.76% 0.76% 0.34% 0.33% 0.38% 0.47% 0.48% $0 $50 $100 $150 $200 $250 $300 $350 2Q23 3Q23 4Q23 1Q24 2Q24 Criticized Loans Classified Loans Nonperforming Loans Investor CRE Loans 19 • Non - Owner Occupied CRE portfolio is well diversified • Over 80% of CRE loans are located in MSAs in the Company’s five - state footprint, which exhibit population growth forecasts exceeding the national average • Overall, past dues for investor CRE loans were 0.01% and NPLs 0.16% at 2Q24 Investor CRE 23% Construction 11% Multi - Family 6% Highlights Loan Type Outstanding (MM's) % NPL % PD Avg Size Commitment (000's) Construction Loans: RRE - Presold 308.9$ 1.15% 0.14% 257.4$ RRE - Spec & Models 220.0$ 0.00% 0.00% 250.0$ RRE - Lots & Land 119.6$ 0.01% 0.00% 446.2$ RRE - Subdivisions 20.6$ 0.00% 0.00% 1,084.9$ Sub-Total RRE Construction 669.2$ 0.54% 0.06% 282.7$ CML - Improved 1,620.6$ 0.00% 0.01% 9,704.1$ CML - Raw Land & Other 47.3$ 0.00% 0.71% 264.0$ Sub-Total CRE Construction 1,667.8$ 0.00% 0.03% 4,963.8$ Total Construction Loans 2,337.0$ 0.15% 0.04% 861.4$ Term Loans: Office 1,187.4$ 0.56% 0.00% 2,847.6$ Multi-Family 1,177.0$ 0.00% 0.00% 5,944.3$ Anchored Retail 1,064.8$ 0.00% 0.00% 5,377.7$ Warehouse / Industrial 687.3$ 0.00% 0.01% 2,949.9$ Strip Center, Non-Anchored 560.4$ 0.06% 0.03% 1,451.8$ Hotels / Motels 436.4$ 0.62% 0.00% 4,546.2$ General Retail 361.0$ 0.00% 0.00% 2,359.2$ Mini-Storage Warehouse 353.7$ 0.00% 0.00% 3,608.8$ Assisted Living Facilities 128.8$ 0.00% 0.00% 6,777.9$ Misc CRE (Church, etc) 109.5$ 0.00% 0.00% 1,042.5$ Sub-Total CRE Term Loans 6,066.2$ 0.16% 0.00% 3,249.2$ Grand Total Investor CRE Loans 8,403.2$ 0.16% 0.01% 1,834.8$ Office Portfolio • Central Business District (CBD) locations represented 8 % of Investor properties ; Charleston, SC, Orlando, FL and Tampa, FL represent the largest CBD MSAs ( 87 % of total CBD properties) • The portion of the ACL allocated to Investor office loans increased from 2 . 81 % to 2 . 84 % * Results based on term loans > $ 1 million, or 90 % of total loans 20 $- $100 $200 $300 $400 $500 2024 2025 2026 2027 2028 and beyond Scheduled Investor Office Maturities Fixed Rate Variable Rate Construction $239.6 Investor CRE $1,187.4 Owner - Occupied $522.1 Total Office Portfolio by Loan Type Class A 33% Essential Use 18% MOB 18% Class B 29% Class C 2% Investor Office Portfolio by Property Class * Outstanding 1.43B Unfunded 0.17B Total Commited Exposure 1.59B Allowance Coverage 2.84% PD Ratio 0.00% NPL Ratio 0.46% Criticized Ratio 1.27% Criticized ACL Coverage 224% Average LTV* 60% Average DSC* 1.60 Class A, Essential Use, & MOB 69% Investor Office

Equipment Finance Portfolio 21 • Total loans were $1.42 billion, or 6.8% of the Company’s total portfolio • The overall average loan size was $54,200 • Loan production totaled $187.7 million in 2Q24; the average FICO score on new loans was 755 • 30 - 89 day accruing past due loans improved to 0.82% of total loans • Non - performing loans were stable at 0.29% of total loans • The portion of the ACL attributed to the Equipment Finance division totaled $52.9 million, or 3.72% of loans Highlights (in millions) 1.03% 0.85% 1.01% 1.11% 0.82% 0.65% 0.39% 0.41% 0.29% 0.29% 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 2Q23 3Q23 4Q23 1Q24 2Q24 30-89 days Accruing Past Dues Non-Performing Loans $1,175 $1,210 $1,287 $1,351 $1,421 $168 $157 $200 $182 $188 $- $200 $400 $600 $800 $1,000 $1,200 $1,400 2Q23 3Q23 4Q23 1Q24 2Q24 Total Loans (MM's) Quarterly Originations (MM's)

Appendix

23 Reconciliation of GAAP to Non - GAAP Measures (dollars in thousands) 2Q24 1Q24 2Q23 2024 2023 Net Income $ 90,785 $ 74,312 $ 62,635 $ 165,097 $ 123,056 Adjustment items Gain on sale of MSR (4,713) - - (4,713) - Gain on conversion of Visa Class B-1 stock (12,554) - - (12,554) - Gain on BOLI proceeds (466) (998) - (1,464) (486) FDIC special assessment (895) 2,909 - 2,014 - Tax effect of adjustment items 3,814 (611) - 3,203 - After tax adjustment items (14,814) 1,300 - (13,514) (486) Tax expense attributable to BOLI restructuring 4,792 - - 4,792 - Adjusted Net Income $ 80,763 $ 75,612 $ 62,635 $ 156,375 $ 122,570 Weighted average number of shares - diluted 69,013,834 69,014,116 69,034,763 69,010,010 69,191,512 Net income per diluted share $ 1.32 $ 1.08 $ 0.91 $ 2.39 $ 1.78 Adjusted net income per diluted share $ 1.17 $ 1.10 $ 0.91 $ 2.27 $ 1.77 Average assets 25,954,808 25,295,088 25,631,846 25,624,948 25,375,312 Return on average assets 1.41% 1.18% 0.98% 1.30% 0.98% Adjusted return on average assets 1.25% 1.20% 0.98% 1.23% 0.97% Average common equity 3,530,869 3,462,871 3,293,049 3,496,870 3,271,787 Average tangible common equity 2,433,958 2,361,544 2,178,323 2,397,751 2,154,720 Return on average common equity 10.34% 8.63% 7.63% 9.49% 7.58% Return on average tangible common equity 15.00% 12.66% 11.53% 13.85% 11.52% Adjusted return on average tangible common equity 13.35% 12.88% 11.53% 13.12% 11.47% Quarter to Date Year to Date 24 Reconciliation of GAAP to Non - GAAP Measures (dollars in thousands) 2Q24 1Q24 4Q23 3Q23 2Q23 2024 2023 Adjusted Noninterest Expense Total noninterest expense 155,357$ 148,711$ 149,011$ 141,446$ 148,403$ 304,068$ 287,824$ Adjustment items: FDIC special assessment 895 (2,909) (11,566) - - (2,014) - Gain on sale of premises - - 1,903 - - - - Adjusted noninterest expense 156,252$ 145,802$ 139,348$ 141,446$ 148,403$ 302,054$ 287,824$ Total Revenue Net interest income 211,921$ 201,388$ 206,101$ 207,751$ 209,540$ 413,309$ 421,192$ Noninterest income 88,711 65,878 56,248 63,181 67,349 154,589 123,399 Total revenue 300,632$ 267,266$ 262,349$ 270,932$ 276,889$ 567,898$ 544,591$ Adjusted Total Revenue Net interest income (TE) 212,881$ 202,338$ 207,048$ 208,701$ 210,488$ 415,219$ 423,075$ Noninterest income 88,711 65,878 56,248 63,181 67,349 154,589 123,399 Total revenue (TE) 301,592$ 268,216$ 263,296$ 271,882$ 277,837$ 569,808$ 546,474$ Adjustment items: (Gain) loss on securities (12,335) 7 288 16 6 (12,328) - Gain on BOLI proceeds (4,713) - - - - (4,713) - Gain on sale of mortgage servicing rights (466) (998) - - - (1,464) (486) Adjusted total revenue (TE) 284,078$ 267,225$ 263,584$ 271,898$ 277,843$ 551,303$ 545,988$ Efficiency ratio 51.68% 55.64% 56.80% 52.21% 53.60% 53.54% 52.85% Adjusted efficiency ratio (TE) 55.00% 54.56% 52.87% 52.02% 53.41% 54.79% 52.72% Year to DateQuarter to Date

25 Reconciliation of GAAP to Non - GAAP Measures (dollars in thousands) 2Q24 1Q24 4Q23 3Q23 2Q23 Total shareholders' equity 3,566,614$ 3,484,738$ 3,426,747$ 3,347,069$ 3,284,630$ Less: Goodwill 1,015,646 1,015,646 1,015,646 1,015,646 1,015,646 Other intangibles, net 79,120 83,527 87,949 92,375 96,800 Total tangible shareholders' equity 2,471,848$ 2,385,565$ 2,323,152$ 2,239,048$ 2,172,184$ Period end number of shares 69,066,573 69,115,263 69,053,341 69,138,461 69,139,783 Book value per share (period end) 51.64$ 50.42$ 49.62$ 48.41$ 47.51$ Tangible book value per share (period end) 35.79$ 34.52$ 33.64$ 32.38$ 31.42$ Total assets $ 26,520,728 $ 25,655,445 $ 25,203,699 $ 25,697,830 $ 25,800,618 Less: Goodwill 1,015,646 1,015,646 1,015,646 1,015,646 1,015,646 Other intangibles, net 79,120 83,527 87,949 92,375 96,800 Total tangible assets 25,425,962$ 24,556,272$ 24,100,104$ 24,589,809$ 24,688,172$ Equity to Assets 13.45% 13.58% 13.60% 13.02% 12.73% Tangible Common Equity to Tangible Assets 9.72% 9.71% 9.64% 9.11% 8.80% Quarter to Date 26 Reconciliation of GAAP to Non - GAAP Measures (dollars in thousands) 2Q24 1Q24 4Q23 3Q23 2Q23 2024 2023 Net income 90,785$ 74,312$ 65,934$ 80,115$ 62,635$ 165,097$ 123,056$ Plus: Income taxes 35,717 23,138 24,452 24,912 20,335 58,855 38,466 Provision for credit losses 18,773 21,105 22,952 24,459 45,516 39,878 95,245 Pre-tax pre-provision net revenue (PPNR) 145,275$ 118,555$ 113,338$ 129,486$ 128,486$ 263,830$ 256,767$ Average Assets $ 25,954,808 $ 25,295,088 $ 25,341,990 $ 25,525,913 $ 25,631,846 $25,624,948 $25,375,312 Return on Average Assets (ROA) 1.41% 1.18% 1.03% 1.25% 0.98% 1.30% 0.98% PPNR ROA 2.25% 1.89% 1.77% 2.01% 2.01% 2.07% 2.04% Quarter to Date Year to Date

27 Reconciliation of GAAP to Non - GAAP Measures (dollars in thousands) 2Q24 1Q24 4Q23 3Q23 2Q23 1Q23 4Q22 3Q22 2Q22 1Q22 4Q21 Total shareholders' equity 3,566,614$ 3,484,738$ 3,426,747$ 3,347,069$ 3,284,630$ 3,253,195$ 3,197,400$ 3,119,070$ 3,073,376$ 3,007,159$ 2,966,451$ Less: Goodwill 1,015,646 1,015,646 1,015,646 1,015,646 1,015,646 1,015,646 1,015,646 1,023,071 1,023,056 1,022,345 1,012,620 Other intangibles, net 79,120 83,527 87,949 92,375 96,800 101,488 106,194 110,903 115,613 120,757 125,938 Total tangible shareholders' equity 2,471,848$ 2,385,565$ 2,323,152$ 2,239,048$ 2,172,184$ 2,136,061$ 2,075,560$ 1,985,096$ 1,934,707$ 1,864,057$ 1,827,893$ Period end number of shares 69,066,573 69,115,263 69,053,341 69,138,461 69,139,783 69,373,863 69,369,050 69,352,709 69,360,461 69,439,084 69,609,228 Book value per share (period end) 51.64$ 50.42$ 49.62$ 48.41$ 47.51$ 46.89$ 46.09$ 44.97$ 44.31$ 43.31$ 42.62$ Tangible book value per share (period end) 35.79$ 34.52$ 33.64$ 32.38$ 31.42$ 30.79$ 29.92$ 28.62$ 27.89$ 26.84$ 26.26$ 3Q21 2Q21 1Q21 4Q20 3Q20 2Q20 1Q20 4Q19 3Q19 2Q19 Total shareholders' equity 2,900,770$ 2,837,004$ 2,757,596$ 2,647,088$ 2,564,683$ 2,460,130$ 2,437,150$ 2,469,582$ 2,420,723$ 1,537,121$ Less: Goodwill 928,005 928,005 928,005 928,005 928,005 928,005 931,947 931,637 911,488 501,140 Other intangibles, net 60,396 63,783 67,848 71,974 76,164 80,354 85,955 91,586 97,328 52,437 Total tangible shareholders' equity 1,912,369$ 1,845,216$ 1,761,743$ 1,647,109$ 1,560,514$ 1,451,771$ 1,419,248$ 1,446,359$ 1,411,907$ 983,544$ Period end number of shares 69,635,435 69,767,209 69,713,426 69,541,481 69,490,546 69,461,968 69,441,274 69,503,833 69,593,833 47,261,584 Book value per share (period end) 41.66$ 40.66$ 39.56$ 38.06$ 36.91$ 35.42$ 35.10$ 35.53$ 34.78$ 32.52$ Tangible book value per share (period end) 27.46$ 26.45$ 25.27$ 23.69$ 22.46$ 20.90$ 20.44$ 20.81$ 20.29$ 20.81$ As of As of Ameris Bancorp Press Release & Financial Highlights June 30, 2024