Ameris Bancorp (ABCB) 8-K Regulation FD Disclosure

Investor Presentation

2

nd

Quarter 2014

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 mergers with Coastal

Bankshares, Prosperity Banking Company and 10

FDIC-assisted transactions

•

Four state footprint with 74 offices

3

4

Management and Board Ownership of Approximately 7%

Experienced Management Team

Name, Position

Experience

(Banking / Ameris)

Edwin W. Hortman Jr.

Chief Executive Officer

33/15

Andrew B. Cheney

EVP & Chief Operating Officer

37/5

Dennis J. Zember Jr.

EVP & Chief Financial Officer

20/9

Jon S. Edwards

EVP & Chief Credit Officer

28/14

Stephen A. Melton

EVP, Chief Risk Officer

32/2

Cindi H. Lewis

EVP, Chief Administrative Officer

36/36

T. Stan Limerick

EVP, Chief Information Officer

7/1

Manage Stronger ROA’s (over 1.15%) and ROTCE (over 15%) to support M&A activities

•

Currently earnings 15%+ ROTCE.

•

Sustain double digit loan and deposit growth.

•

Manage Mortgage and SBA lines of business for meaningful addition to ROA and ROTCE.

•

Continue to drive efficiency to our 60% target.

Capitalize on significant M&A opportunities in Georgia, Florida and South Carolina

•

Capitalize on local relationships that have been developed over the past several years for

negotiated (vs. auctioned) deals

•

20% + IRR’s, shorter TBV earn-back and double digit EPS accretion

•

Pricing advantages expanding for ABCB given our desired footprint & potential cost saves.

Successfully execute “Coastal”

conversion in August

•

Retain

top

customers

and

employees

with

“critical

care”

style

attention

•

Convert

strong

loan,

deposit

and

mortgage

pipelines

into

balance

sheet

and

revenue

growth

5

Current Focus

6

2

nd

Quarter

Update

–

Financial

Condition

dollars in millions, except per share data

Q2 '13

Q3 '13

Q4 '13

Q1 '14

Q2 '14

BALANCE SHEET

Total Assets

$2,809

$2,818

$3,668

$3,487

$3,973

S/T assets & investments

$418

$394

$708

$515

$591

Loans -

noncovered

$1,618

$1,659

$2,134

$2,184

$2,472

Loans -

covered

$444

$418

$390

$373

$331

Reserve for loan losses

24

24

22

23

22

Indemnification asset

106

82

65

53

49

NIB checking deposits

475

476

669

699

791

Interest bearing deposits

1,968

1,968

2,331

2,312

2,598

Tang Common Equity / Assets

9.15

%

9.22

%

6.83

%

7.53

%

7.04

Tangible Book Value

$10.74

$10.85

$9.87

$10.31

$10.26

7

2

nd

Quarter Operating Results

A –

Amounts are presented exclude $54.8 million of goodwill impairment in 2009 and $4.8 million of pretax merger costs in 2013.

B –

Efficiency ratio and Net Overhead ratios exclude goodwill impairment, merger costs and OREO/Problem loan expense.

dollars in millions, except per share data

Q2 '13

Q3 '13

Q4 '13

Q1 '14

Q2 '14

Net Income

$6,678

$6,677

$1,378

$8,350

$8,130

Net interest income

$29,476

$29,320

$29,051

$34,484

$35,264

Provision for loan losses

$4,165

$2,920

$1,478

$1,726

$1,365

Non-interest income

$11,385

$12,288

$11,517

$12,754

$15,819

Mortgage revenues

5,001

5,232

4,431

5,068

6,944

Service charges on deposits

4,695

4,948

5,065

5,586

5,847

Non-interest expense

$26,688

$28,316

$33,274

$33,329

$37,318

Salaries & Benefits

13,381

14,412

15,071

17,394

16,942

Occupancy & DP costs

5,814

6,221

6,289

7,518

8,011

OREO and problem loan expense

2,349

2,971

5,322

2,190

2,840

Diluted earnings per share

0.26

0.26

0.18

0.32

0.32

Return on Avg Assets

0.95%

0.94%

0.67%

0.96%

0.93%

Return on Avg TCE

10.77%

10.18%

7.55%

13.30%

11.15%

Net interest margin (TE)

4.96

%

4.80

4.43

4.57

4.65

Efficiency ratio

(operating

B

)

59.57%

60.91%

68.90%

65.73%

61.82%

Net Overhead 

(operating

B

)

1.84%

1.85%

1.79%

2.01%

1.81%

8

2

nd

Quarter Update –

Credit Quality

dollars in millions, except per share data

Q2 '13

Q3 '13

Q4 '13

Q1 '14

Q2 '14

CREDIT QUALITY

(1)

Non-performing assets

(legacy)

71,696

69,698

62,554

60,568

57,484

Non-performing assets

(purchased)

-

-

10,935

19,182

32,368

NPAs / Assets (legacy)

2.55

%

2.47

%

1.71

%

1.74

%

1.45

%

Classified Assets / Capital

28.7

28.6

32.7

33.9

34.00

Reserves / Loans

1.56

1.50

1.38

1.34

1.26

Reserves / NPLs

76.13

75.20

76.63

85.09

100.65

Net Charge-offs

2,860

2,812

2,677

1,134

1,487

as a % of average loans

0.74

%

0.70

%

0.66

%

0.27

%

0.34

%

•

Diversified loan portfolio across five regions

–

Inland Georgia –

36%

–

Coastal Georgia –

20%

–

Alabama –

5%

•

In-house lending limit of $15.0 million versus $86 million legal limit

–

12 loans greater than $5 million, no individual loan greater than $10.0 million

•

Loan participations less than 1.00% of total loans

•

Aggressive management of concentrations of credit

•

Top 25 relationships

are only 10.7% of total loans, with avg. DSC of 2.48% and LTV

of approximately 65.8%

9

–

South Carolina –

12%

–

Florida –

27%

Loan Portfolio Detail

•

Leveraging presence in new markets (top five markets

account for 72% 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

•

Diversified

loan

types

–

not

solely

chasing

CRE

or competing with low rates that do not

compensate for term or quality

10

Loan Portfolio –

strong loan pipelines

Consistent

Loan

Pipelines

¹

Lending Strategies

Pipeline Opportunities by Type

1 –

Loan pipeline amounts consist of all loans management has deemed a 75% or better likelihood of closing.

11

•

$34.2 million

-

Largest Relationship has  over 3.0x debt coverage, backed by taxing authority of one of

our local governmental entities.

•

2.48x

–

Weighted

average

debt

coverage

of

our

25

largest

relationships.

•

65.8%

-

Weighted

average

loan

to

value

on

our

25

largest

relationships.

Note> As of June 30, 2014

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

$     140.9

5.9%

Top 50

$    396.7

16.6%

Top 100

$    587.0

24.6%

Top 200

$    835.2

35.0%

Top 300

$    1,010.9

42.4%

12

•

26.3%

-

5

Year

compounded

growth

rate

in

our

book

of

non-interest

bearing

demand

A

.

•

$1.1 billion –

Growth in non-rate sensitive deposits over last 5 years will materially

protect

Ameris

Bank

from

the

sensitivity

of

a

growing

fixed

rate

loan

book

A

.

Significant Value in Deposit Portfolio

Growth

in

non-rate

sensitive

deposits

A –

as of June 30, 2014

Deposit

Composition

–

6/30/14

13

FDIC Indemnification Asset

Managing towards the end of loss share protection

I/A

–

Indemnification

Asset

for

reimbursement

on

expected

losses

from

the

FDIC

1-

Months remaining to collect remainder of indemnification asset is a weighted average based on the indemnification asset at 6/30/2014.

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.  Original estimate of losses includes gross losses identified in due diligence and 10% for workout expenses.

Classifieds

Maturing

After L/S

All Loans

Bank

Original

I/A (000's)

Current

I/A (000's)

% of

Original I/A

Remaining

Months to

Collect

Original

Estimate of

Losses (000's)

Current

Estimate of

Losses (000's)

Current

Estimate as a %

of Original

NBV

I/A

NBV

I/A on

loans

AUB

24,200

33

0.1%

2.9

33,275

31,883

95.3%

0

0

8,973

36

USB

21,640

434

2.0%

3.9

29,755

42,831

142.9%

487

0

13,225

384

SCB

22,400

974

4.3%

9.9

30,800

31,365

101.6%

1,785

10

29,591

728

FBJ

11,307

1,936

17.1%

15.9

15,547

10,314

71.3%

451

121

20,568

1,830

TBC

22,807

2,070

9.1%

16.9

31,360

28,613

92.0%

345

73

26,510

1,462

DBT

112,404

5,723

5.1%

16.9

176,635

131,811

78.6%

619

201

72,926

4,993

HTB

49,485

5,048

10.2%

23.8

68,042

52,804

79.2%

3,332

692

52,732

3,967

OGB

45,488

4,925

10.8%

23.8

62,546

33,942

55.6%

3,621

65

44,564

2,529

CBG

52,664

7,630

14.5%

30.9

72,413

40,027

59.8%

4,621

643

62,161

6,404

362,395

28,773

7.9%

22.4

572,409

403,590

77.6%

15,261

1,805

331,250

22,333

14

Earnings

19% Compounded Growth in Revenue (5 years)

•

Continued M&A activities –

•

Achieved a 20%+ improvement in total

revenue run rate from recently closed

“Prosperity Bank”

merger. (approx $33-

$35 million per year)

•

Lines of business focused on higher quality assets

with better pricing opportunities than CRE.

•

Mortgage warehouse, municipal,

agricultural.

•

Mortgage business –

•

Operate in larger metro areas with more

active housing markets than national

average.

•

Never focused on refinance.  Current

production is over 90% purchase.

•

SBA –

new line of business for Ameris.  Quarterly

run rate is approximately $6mm per year in

additional revenue.

Proven ability to grow revenue profitably with a

compounded growth rate of over 19% for the last 5

years.

Challenging market to grow revenues. 

Opportunistic approach of Ameris Bank includes:

15

•

4.65% -

Improving Net Interest Margin for two

quarters from 4.43% reported in Q4 2013.

•

4.31% -

Net Interest Margin without any

accretion.

•

$2.5 million –

Additional interest income from

“accretion”

in 2Q 2014.  Down from $2.7

million in Q1 2014. Remaining accretable yield

supports these levels for approximately 10

quarters but DOES NOT include any accretable

yield from Coastal acquisition due to its recent

close.

Earnings -

Net Interest Margin

Net Interest Margin

(%)

16

Serious about building strength and diversification in non-

interest income sources

•

Moving away from deposit charges

•

Momentum in our numbers coming from mortgage

revenue; we believe we can duplicate that strategy

with other LOBs by hiring expertise

Earnings –

Non-Interest Income

•

Reached maturity from a revenue and net income

standpoint

•

Limited effort to build a larger platform, although we

continue looking for strong producers

•

>80% purchase business, from larger builders and real

estate brokers.

•

Operates on a recurring gross margin of

approximately 25% (pretax to total revenue)

Mortgage:

Disciplined Acquirer with Significant Capacity

•

Two negotiated deals within 12 months with 20%+ IRRs

•

Short TBV earnback periods, meaningful EPS accretion on recent deals.

•

Reputation with targets and with regulatory agencies are providing increasing deal flow

Low P/E multiples relative to our Peer Group provide meaningful upside

Proven Ability to Grow our Company Profitably

•

Compounded

growth

in

recurring

revenue

of

almost

20%

over

last

5

years

•

Non-covered, non-purchased loan growth of over 18% (annualized) in 1H2014

No Need for Additional Capital

•

TARP and Credit overhangs are gone.  No capital raise, no shareholder dilution.

•

Analysts estimates forecast TBV pickup of $2.56 (EOY 2015, net of dividends) and 125bps of

additional TCE/TA

•

Year end 2014 TCE/TA forecast to be approximately 7.50%

17

Why Ameris Bank?

ABCB

Proxy Peer Group

P/E 2015E

P/E 2015E

"Upside"

10.44

14.13

35.3%

18

Analyst Coverage

Firm

Analyst

Rating

Price

Target

2015

Estimate

Keefe, Bruyette & Woods

Brady Gailey, CFA

"Outperform"

$28.00

$2.04

404-231-6546

Sterne Agee & Leach

Peyton N. Green

"Buy"

$29.00

$2.05

615-760-1464

FIG Partners LLC

Chris Marinac

"Outperform"

$28.00

$2.00

404-601-7210

Sandler O'Neill & Partners, L.P.

Casey C. Orr

“Buy"

$25.00

$2.00

212-466-8061

SunTrust Robinson Humphrey

Jennifer H. Demba, CFA

"Neutral"

$24.00

$2.00

404-926-5476