ABCB - Earnings call transcript Q2 2021

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Operator

Good day, and welcome to the Ameris Bank Second Quarter Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please note this event is being recorded. I will now like to turn the conference over to Nicole Stokes. Please go ahead.

Nicole Stokes

Great. guys. you, Thank to you have our joined And all today. call thank who

some up Relations referencing we are release Investor Palmer Web result assume of non-GAAP Proctor, any call, factors cause risks performance. Edwards, today information, in call, in the press and site. to forward-looking to before Chief financial I'm the or at Officer. discuss available update available of amerisbank.com. the site I'll begin, will might Palmer and will early results during the any not to our we you the our differ to the as uncertainties. reference comments results comments before Web that During obligation then by highlights our Credit that be measures will press But begin joined statements. may subject our general with for except financial are and open We remind certain required discuss I'll include Also and it on by of filings, results which we developments and do SEC the list Jon in of CEO, law. section could we These some on our our new the financial otherwise, our as release Q&A. opening company's our details statements actual that are We'll The a statements forward-looking vary materially.

it Palmer opening of presentation. with measures our our in see to And our financial for reconciliation turn I'll appendix You measures these GAAP and can comments. that, to over

Palmer Proctor

today. excited you share quarter with our joining to our you Thank you, to thank Nicole, everyone I'm results. second call who and has

posted with the I our fact, why. team's we quarter, and quarter, results more the first and record earnings is impressed this here in actually In was

moderates. for and "What legitimate the many when mortgage a the question stakeholders normalizes was, of revenue what One this you happens quarter happens stockholders shows ABCB very mortgage and questions, exactly from bank?" revenue of And big our when

deliberate taken of pipeline core of This Ameris' and of meaningful on as revenue. areas many reflects reflective the expenses the talent purposeful continue results which And top have and tangible other that the of in net decline the return strong we very It's associated of income also on made return quarter quarter equity. our basis. and adjusted investments teammates build, X.XX mortgage company. relationships And reflects of share are a we've reduce reporting we or lending XX.XX million, actions to with in resulted this to $XX per represents average assets, second diluted an on $X.XX really also

before actually XX.XX% quarter, Our the adjusted to from efficiency improved in XX.XX%. first ratio the the first this at quarter quarter,

did of last $XX.X provision we'll to expense recall, growth was we it of quarter, net few the When As for too. is was annualized discuss in minutes. Nicole deliver XX. page the to expect quarter the the slide I all of $XXX year our we was our of able still and you'll PPP to at excess look of on we markets. loan But the net had. the our we mention for deposit growth loan And an in growth, about. just had And deck, that growth this X% loan going quarter, we had And see and to it our loss and quarter. C&I, million quarter incredible and million mid due most talk reversed and opportunities as right want runoff, upper-single-digit on look speaking I the growth at details more you was loan in impact indirect be our for loan margin expense excited this to on you we growth may the continued about this liquidity for a at pipelines provision a minimal in to positive growth area to The our

outpace real the grow our And find we'll think now which deposits funding is out you're that's certainly industry, during core are total Our off, of when real this approach some there. growth in a deposits, and time continued total growth liquidity -- And took this or and excess the in deposits, going leaders rates leaders opportunity they're moving of the back to to XX% very emphasize the of to from the I start who terms of time. I up be in and non-interest-bearing because impressive. standout runs the who

over capital on $X.XX growing side share book XX% consistently value we growth focused did We've by grew equates or by second or X.X% balance exactly also this that's growth our XX% tangible position we're per both And capital this the far. of year We've tangible the to book TCE tangible sheet, quarter; said saw the for value tangible book we strong. value. On so $X.XX during and in for what and grown tangible We over book, annualized remains the quarter. value.

to and forward. is as questions after remarks. to few our our transactions to Edwards, is Our ratio prepared would close today, over highlights the I balance been sheet, XX%. But have the very available we increased X.XX%, in exclude did he's to Credit our us growth hit go you clearly our $X.X billion of support with Jon excess our Chief TCE to if of And liquidity have take to consider a terms opportunistic any the capital which X% ratio goal. We and want Officer initiatives on TCE credit.

year. assets last time deferral X.X% is of basis to XX XX total quarter points, that points Our the loans XX% quarter, last as remain and percent to compared of loans, basis a last Loans down improved at from total XX total of non-performing year. were end of assets points approximately which the approximately basis on this

the ratio quarter. of was our the excluding coverage allowance of end unfunded loans net the X.XX% at commitments Our PPP

quick COVID, of X July back-to-the-office a our terms update here, date. official was in Now,

All the and office. to including staffs staff are are all open, back our of of support branches administrative our and

new hybrid Some approach, normalcy. and are have of of really sense in teams excited that's we're adapting to our well a but new a

As normal last in quarter, are and in open. most I back are back businesses are times, and jams restaurants opening. Traffic to wait mentioned restaurants actually new

and for see Social are in Disclosures. on to in a have about and of of $XXX June. to round to approximately announce and and that that normal we we which actions at about started And wanted shout-out went and the in update A last million lot with published remaining and there accordance more out Standards our in And So, million our getting we to on the in hope make. I $XX there Responsibility lot it Corporate to our and round and things one, that take But turn $XXX into million proud round We've forgiveness and on now, Board quarter, way Accounting funds the it $XXX I discuss that. million Report, receiving expect out, we left round Nicole work in came definitely the left got revenue to it. comment continue certainly to we in back the this of with all one benefit the I'll of a from of was and first detail. Sustainability on a capitalize $X.X hard to forgiveness really team, was billion stop results thought, one financial quick Climate-Related Financial I'm we a entire over look you report, during I'm Force May, two, from There's us. and the PPP, pleased PPP to very deferred Southeast, loaned two. proud minute in Task

Nicole Stokes

Palmer. Great. Thank you,

diluted $XX.X small it's X.XX, we're And adjusted recovery sale X.XX. As in per pleased million share. this of income our quarter, for of per or We're servicing $XX.X operating you reporting was we a ratios, million that's excluding second stated, the the on quarter. or basis, $X.XX impairment an second diluted quarter On really adjusted net and share. asset the $X.XX premises for our the with ROA the year on and gain earned

and was the on return common quarter year-to-date. the tangible for adjusted Our equity XX.XX XX.XX for

our tangible the quarter, from increased this the book last time to for year-over-year value during from tangible X.X% $X.XX year. or XX.XX% increased has mentioned, XX.XX% value Palmer As by XXXX $X.XX book or XX.X%

year tangible points. addition, end increased liquidity impacted the ratio In common our $X.X XX this the of this it's the by past approximate billion X.XX last quarter basis increased equity excess time basis and balance from X.XX this from points negatively sheet points XXX our the of on ratio to over quarter, at XXX basis year, first X.XX

is been our well our assets, of TCE So, at net excluding target from quarter which ratio approximately have XX.XX% cash end, stated X%. would total above

five we points capital factors. million net points consumer interest feel decreased XX really $X and had million decline a on on to points point loan revenue and for see points, was declined loan of of We basis to compression. growth held basis funding we came points to our total our four unusual points, yield the continue a well-capitalized basis in eight mortgage, be of you the last that we X.XX% sale our little description in kind four the income attributable from yield earning quarter, Talking we continued true and five the down We points. slide level. million basis to our several of one XX related yield liquidity. income, compression had bump five costs eight; final basis while then was points from portfolio due basis two we to have So, with was and during with basis quarter, declined from margin, bit assets dividend basis points accretion our excess decline, basis two of basis on comfortable due by And X.XX% basis almost to of XX $X.X a margin sale $X a this points did non-recurring bank the to compression of decline in that basis commercial the can that PPP true point

margin point occurring we year-ago. margin eight, on over grind continue how have CD still here yield improving and the excess impact XX really portfolio. and total forward So Also for of can is going that four is real points our you during compression deposit true one improvement in the for room quarter. points points basis to had to was of We to the and work, which our basis loan had compression from some margin liquidity quarters. down. driver We're anticipate three focused the that we an costs putting negative to next them the funding billion But added on see accounts five liquidity it my Slide we excess $X.X basis of of that costs

mentioned GDP credit Palmer well, Index $XXX,XXX of and million As small about quarter. CRE own our The continued growth. improved loss need our expense provisions for additional and quality for a compared had loan specifically as last that we economic to $XX.X offset on provision helped the loan reversal quarter this unemployment, conditions

of compared middle ending $XXX.X of million loss deferrals. to last heightened and the the Our last $XXX.X $XXX.X and which at million of end pandemic the quarter for just second quarter, in allowance of end the our loan million year, was at

other at including So, total quarter. last $XXX.X for credit for at million and with of allowance commitment quarter-end credit million compared end was unfunded $XXX.X allowance losses, the our reserve the losses

this in expected due million margin. Moving mortgage as this both was sale it really our so on last declined about two income and the banking, contributing to our And million. excluding gain mortgage $XX.X in there's income was decline the declined quarter really the on production and $X.X quarter, recovery to to quarter non-interest $XXX,XXX income, decreases and revenue, recovery it the non-interest factors

from on million we declined XX X% the declined you a $X.X production that Group in really information you as also in it's billion important quarter X% to division. non-interest last and on $X.X Mortgage slide, to some Retail see billion As Slide the total $X.X expense this or see here quarter on, mortgage. note put that which can has But new Retail Mortgage in can

X.XX costs, the saw gain there end elevated also second levels, decline normal In reductions pipeline margin. We billion they gain don't addition at and sale on last in $X.X of to draw further to reduction to in that to billion, of in quarter, we really variable quarter quarter. to production, production do to is decreased sale open the if expense was end we the compared continues those X.XX last at decrease anticipate average that on back believe further the the compared decline. The $X.X non-interest

large amount expense $XXX.X that last a Total declined stated, non-interest mortgage from to $XXX.X for had our million and As our during mortgage staff. company mentioned, we million million and the the banking in of costs, million reduction designed seen expenses we includes and this quarter, we then just additional previously the by -- $XX support group. quarter are which variable $X in as the quarter, $X.X declined expenses I was enterprise service million almost an wide division,

We efficient efficiency I we by to quarter. continuously efficiency On to that and revenue did sustainable. to for mortgage and XX% ratio we continue efficiency the because in guided ratio our XX% to that previously look of ratio last become adjusted improved not this to for the division. from slightly quarter range XX.XX% to previous XX.XX% more efficiency anticipate the stabilize be ways note, monitor level

saw stabilize. the right that we which improvement the saw doesn't our ratio. then, that middle is costs, gain And range sell on quarter we mortgage affect variable this to and reminder, as XX.XX% back normal think sale we levels I in So the saw margin, still of a also in efficiency

end sheet last the we of loan On with annualized quarter. billion $XXX pleased balance We or ended at $XX.X second the our the assets of X% growth of million quarter quarter. compared organic $XX.X for with the to billion were side,

As declined indirect slide see million. $XXX $XXX we $XXX PPP finance in million can C&I, a million loans growth of declined million XX, headwind you had against CRE, loans and premium on $XX residential. and

headwinds compared left on year. in runoff left. $XXX loans received and details of have one, few of $XXX the outstanding both we $XXX.X balance was round average We portfolios anticipate the and $XXX We $XXX PPP The forgiveness leaving a second quarter million have on the $XXX.X in balance really extra balance approximately next at at We've PPP million. of of average And million. the loans an early and first from million indirect the to to these of have million new million balance $XXX of we loans subside approximately million payments in PPP. now quarter round-two

$XX.X into year two. that about deferred we million income We loan. amortizing one not have discussed That's the on the excess on sooner. at million million And We liquidity. round next over $X.X already and again, PPP left anticipate $XX.X if income on round the

life that quarter really deposit quarter due normal quarters. broken like But of in growth rates seen and anticipate to was XX% You balance rise. some our in over can see other bearing. this as non-interest runoff past in post-pandemic million earning that I sound tremendous deposit the a growth back $XXX to record, the as assets on do grew and but deposit gets potentially few sheet we this we we've again

begin to about and to $X digits, the Wise quarter PPP for to and and to of loan cash did rates We we to the with a just BOLI although today, of We million it net I approximately we continue portfolio. $XXX really non-taxable purchased And increase during considering the buying excess about year other the purchases, to deposit That prepare call we for the of anticipate activity for any wrap would loan doing start the single up. mid investment that, net the little if everyone's investments over in which is bond X.X% group. will billion a growth from second I'll with time I of that. runoff billion leaves of are turn curve steepen questions before bit in growth. like start appreciate yield $X.X

Operator

go comes question-and-answer KBW. We Gailey question session. Brady Please Instructions] from The ahead. the with will [Operator now begin first

Brady Gailey

guys. Hey, Good morning, thanks.

Nicole Stokes

Good morning, Brady.

Brady Gailey

should ability side, down in pressure basically help to your the like to in what So, it when continue to second going of and as at out that happened reduce continues expenses mortgage offset on impressive the mortgage. look mean But was down dynamic revenue quarter. XQ the expense mostly to forward, normalize? I pretty did play that I

Nicole Stokes

different there. it if I take to okay. side about then And talk going I'm talk split the Brady, question there's about because into and banking two mortgage So, dynamics and think the that side, that's two,

side, is One feel we've variable doesn't when Then on costs. all into there's sale anticipate, again by production On quarter. side turn mortgage affect that affected. the mortgage second is those the costs driven sale, the And to like the are absorbed margin looking the do other the we of really where is And the you production. gain kind production really at revenue components. variable component on gain two of we and and side,

We have about there. an XX% structure

on because mostly benefits, on down So, and that's also side, commissions, data comes the incentive, account expect as side, we salary production your expense down, production then in down. cost-saves comes addition for basically processing comes the as IT

So, on build revenue as XX% categories main those expenses that comes are kind the production in that two the decline down. of

I mortgage side. anticipate So, the do on

On the costs deferred very because banking the had production. of quarter part with side, of this strong decrease our to do

I that some we So, a fees that as running. we production not third, think back as robust could very were XX-XX it those impact to And is again, But production, could as quite think had that come could XX -- I that. fourth robust. when the back. quarter, - go bump bit don't -- you because the deferred we'll think about I little of think up it's easily

a easily could was I it So, the as few that don't ago. up quarters anticipate it to XX high as think range I XX. closer go XX the in to going But XX

Brady Gailey

it's attractive, at the which but that's TCE tangible, buyback? XXX times stock Okay. at earnings, is XX you above share points XX%, pulled X% in And pretty your target. base, And adjusted any and I here; capital a Nicole, your has your basis on look thoughts little mean, when I is X.X reengaging then mentioned bit back times that

Palmer Proctor

is Palmer. Brady, Yes, this

plan got know, there and is a authorized. we've to out pullback continue at got very we're the now the consideration. the seeing because we've And if certainly that's to a do opportunities into we'll see stock that. take And As consideration price, you we that attractive

Brady Gailey

Palmer? just enter generally the a been market me, an possibly your update you? on finally this update in are Okay. thinking Would just to M&A, And M&A, have SouthState guys And on of then like interest target that Capital. big then an maybe for with we saw Atlantic acquisition you speaking, about maybe of a way, how morning,

Palmer Proctor

for no, Yes, transaction a think nice I that's SouthState.

I think bolt-on for it's them. a good

that growth Atlanta, in I market you think a it's of I meaningful market it's to existing And the of Atlanta like here think whenever opportunity. opportunity share the a we'll in in lever in we the folks think share to the that's opportunity prospects. a capitalize can -- at market at a looking they And you realize market that stand the garner in we'll of way. platform I that we look in lot on. and able have good in And for terms what continue where when terms as be place,

consistent terms principled very of In looking we're for. very what to in we're -- we outlook, We've obviously, and, in want of got what we're terms disciplined, pretty our do.

So, we in pricing. of into take the to considerations a social lot account the addition

we'll either position from remain those we think we're M&A, know, way. so, you able to growth are. pursue got opportunity, nice to we've in be a But continue And it's where way. opportunistic, to aside that going organic to and incredible to as And is be which

Brady Gailey

color, for Thanks great. the Okay, guys.

Palmer Proctor

bet. You

Nicole Stokes

Thanks, Brady.

Operator

go The Whitman with ahead. comes Sandler. question Please next Piper from Casey

Casey Whitman

morning. Good

Nicole Stokes

morning, Good Casey.

Casey Whitman

us of PPP into is going accretion? walk you you are obviously thinking your play out and to how back-half about liquidity over can that? the And year, margin how with maybe through core the Nicole, Well,

Nicole Stokes

Absolutely.

margin. that's to offset. basis mid flat the for points was side have basis of is until flat guiding CD liquidity, excess $XXX -- Again compression, start about mid can we we squeeze next couple do out portfolio, liquidity; points deposit start PPP, basis that million $X.X another on of two kind on our on asset couple to kind flat stabilize. deploying say we of assuming accretion, compression that, the in of a and think for have I points we We single-digit quarter side, So, going the that billion mostly excluding every so to single-digit that a quarter just again, as we're more so,

assuming see quarter. on and that we soon as we for deploying the mid one the back that flat, compression as pickup accretion we're start single-digit PPP definitely -- added But in. will more the and liquidity stay have So, stays flat,

Casey Whitman

Okay, I all quarter. Nice makes had. sense. It's

Palmer Proctor

Great, thank you.

Nicole Stokes

Thank you, Casey.

Operator

can't comes the from hear Jennifer next Please go Jennifer, line is ahead. Truist Demba question we The with Securities. you? muted,

Jennifer Demba

Hi. now? me hear Can you

Nicole Stokes

Yes. Good morning, Jennifer.

Jennifer Demba

question now? is going you what you? and to are you're you of How see mortgage production right much trends the about of quarters, next Could My on think over couple an shortage kind the business. just the inventory Hi. talk is issue of how

Palmer Proctor

Yes, I'll take that.

that I what margin. finding quarter, from of and think look while there. still you've still the it's lot production, don't supply think I the terms our is a to in in is short a impacted going And Obviously, order meaningful. when the of this got very business, this the saw we're that. the at And of demand year. supply in by we're see you second-half But you're seasonality typically current you situation, is impact it for

the that the the historically more four it's going quarters, a into as going look to for going is normally I think have to we year. going -- two So, I to forward pullback and you which over much actually to run than demand see think later probably just seen constant be at the be, next when inventory end it's what for absorption, of what's get rate we actually stable because into we happen

there. So, contrarian markets, in know, high view, of the there that supply, and very but of certain all we absorption kind as in shortage I'm is a think that is

to to or builder going are on realtors. we are which it's heavily performer activity, be focused think for a that purchase-type continue steady I those so And with

a quite the for serve last to purchase-oriented. heavy it's due saw are frankly, well. I But refi little more much be just those environment activity forward, all going us rates over type of We that in pickup going the for mortgage, going that's think quarter. think to a stable certainly I to in the So, drop

Jennifer Demba

on back be merger on more And Okay. detail give transactions might what in, sense? make little topic, of if a us you interest Palmer, the interested Ameris could just they types

Palmer Proctor

And Yes, say on good the got it's transactions culture, you We're are looking at, to as those be makes that it's got to fit We're to foremost, disciplined shareholders. I to that's us. we're this anything know, very company cultural to and we're to dilutive alignment so do a But would going very there. sense not fit. or anything first it's be be pricing; accretive. overly of big kind our to got here, and our in a cultural good

remain, will open we said, that so type non-bank transactions. bank are both to I out and And opportunistic of like other opportunities and there,

Jennifer Demba

Okay, thank you.

Palmer Proctor

You bet.

Operator

with question next from Brody ahead. go Inc. Preston The comes Stephens Please

Brody Preston

good everyone. morning, Hey,

Nicole Stokes

Good morning, Brody.

Brody Preston

Hey, you around just help Nicole, expenses. core could me the

that a because that a high back XQ or understanding $XX production. right. million But million, is up year-over-year that payroll. $XX $XX to high $XX decline, hear just year-over-year of you million can think with guys you down sort So, seasonally the million bump you you're of -- I I seasonal the look you from the to when for at But

So quarterly million taken basis. a rate effectively of $X out you've the run year-over-year out on

actively specifically while last the expenses understand so, core just in driven has year people. help you've over been you've -- how of a level the like that And me decline hiring what bank

Nicole Stokes

Sure, question. that's it. I great a appreciate

feel were And as we this of recommendations. of did things, what consolidate lease opportunities, branch then we on few closed move to out And those expiring back leases at looking the comes that spaces. we've like saying been our ahead really we've is to quarters, branches a for were curve there, so, of kind been we and several

been And that's, if there's had do reallocation for I'll know exactly finding we resources, and used of to saying we but then tend that to to so been I we say have what things. And certainly hiring, pay ways planned. it's any, be have people able

other only the occupancy costs have able as technology to been we've markets I could our into you're at of of about new those had $X also move And well the one that bucket, other we've other some line, the spent expenses and in some been right, even that's growth the markets. And that we maybe again look had to and benefits. every back mean, about we've also million, just in able help be and it's though see retirements, and of so, category. is have started we some funds didn't positions not non-interest also hires, down, the when so and fill you'll some using we quarter exactly payroll you And attrition, then or down some help to well telecommunications salaries had expenses the some those expense we tax as into salary then those first million in But had we is to about down have employee flat that $X us are deferred there. data processing, and that there come as up reallocated that

Palmer Proctor

it's being very Palmer, discipline is think this one and thing largest Brody, obviously, I been overhead. what expense And is companies, teammates here Ameris but expectations is in and the pleased but in the it, and item team year-to-date is the we've realistic you'll with terms a the all I've find in even what Commercial accountability net good XX hired example Group, we a Banking what up obviously, of instead very that about new our were individuals, to is performing individuals, group a operational production just of up can is roles that you were throughout expense think people side, FTEs. entire company, three additional do for reflective if end deficiency. the whether you on and of high of their performance. meaningful with on accountable in well side, mask to and And just And an layering that's holding I their only

and of currently about And it's the that this things very forward. we've so us certainly dividends last paid one for year been and going I year, and think that's consequential

Operator

hear We Brody, can't do any more you? you have questions?

Brody Preston

Yes, about that. sorry

that X% business So, I down side, If one were next how say line X%, if we mortgage there tied quarter, about to be is expense should guess, that? that just Nicole, there. down thinking be comp, should on that the last in mean again question variable production of expenses is the XX%

Nicole Stokes

Exactly, yes.

Brody Preston

thanks are for that. expenses or maybe that And on I -- just Okay, those Is tied banking. great. Great, that tied is to guess production? total mortgage sold production further to

Nicole Stokes

Total production?

Brody Preston

Okay. that All right, thanks clarification. for great,

switching Let core just yields. to me loan

of X.XX% out about yield is think this sort points right around which PPP quarter. basis backing XX your from I down calculating core loan quarter, last and

that that couple yields you down kind core per of given quarters expect year, expect six to sort do to of similar in yields we to head continue by subside? Just new decrease I should guess the or when quarter, five next of production a over that bps loan

Nicole Stokes

exactly you're No, right.

is current it our basis really on yields for about down to upswing loan with so we a need XX So pushing stabilize. and our that come rate, point

So, accretive. basis start side that they're period, and compression. of for where for long if decline a rates be we swing kind see to some a we sure. But point could to really that continue the again, anything that some to deposits have Again we that XX would stay margin above of need help of to stop

Brody Preston

I a can and this to pretty the Okay, yield normalized good be yield that know is variable? it portfolio, X.XX HFS in is use them.

Nicole Stokes

could down, don't you that that hate say I going conservative. variable. would so It and is this, probably think pretty but use anticipate to be I it I

Brody Preston

HFS and expect from HFS down that quarter on are, continue what pipeline guess I and portfolio forecasts this to being Okay, they the this we is here. should portfolio Nicole, lag being down NBA

expect of range some kind year? to next point you that back $XXX would it so to by get And million

Nicole Stokes

has $X be to we've of to that $XXX million come billion million the yes. a we say will kind kind guided would that, of norm, a to new still down, think what $XXX I

Brody Preston

me could then mortgage that? of see and that item are line you you portfolio drive help the in quarter-to-quarter components what just on banking sort that some provision loan it a the that, drives to division, understand there basis HFS the the variability And is or Okay. like the on specific again, the are you what just that average of there, related

Nicole Stokes

at similar overall general shifts also buckets. that so metrics, the of is related when factors, such we at and delinquencies, look internal looking some have we some or some and credit allocate start economic could Sure, we then between we just provision to to as deferrals how when

see, look million, had is you'll $XX quarter, million you for what $X.X that whole release the looking so company. at a I six, when think last again at And you're we

got kind of expense, see quarter, some retail And that mortgage this got was the So, of mortgage. banking then it credit, had all the heavy in the you'll allocated division and out. of to but net kind

as So, factors metrics. an as well credit some of individual modeling the economic internal

Brody Preston

Could is stride. of kind you to Okay, it understand that portfolio hit then portfolio, hired me is their the was strength see just C&I line year was in XX.X% on it the to linked that core are last and utilization, think new is some maybe of over increased some I folks commitment, that about up help starting you that the nice quarter. there the C&I

kind let there? So me happened understand of what

Palmer Proctor

markets, did North many it's it Yes, exciting incremental other out part area, Florida And of I of quarter, we've the above, of great business. it's most our some lot was new new full has been markets, including a as bit from of Charlotte seeing. of growth which is and so it a a which come consistent, made the the see. it of like is already pipelines in has of all some in very to the remain this Atlanta, And investments had of of incremental

paying the outlook about last So off the excited investments we're year are and there. very we made

Brody Preston

was last just for it great. $XX.X what servicing million Okay, was this one, if then one to the quarter happen do I may, Nicole, the quarter, think know And mortgage? last income you I

Nicole Stokes

was with it consistent that. Yes, pretty

Brody Preston

Thank very you much.

Palmer Proctor

And and listening look today, is and mortgage, volatility at not volatile there. one as mortgage bring a is in on potential mortgage look the servicing when good you meaningful there you you you and for asset everybody thing we've point up that's income a at know, servicing got

think be helpful of, volatile terms I us line certainly because a can of in budgeting stabilizer terms nice in and important income forecasting from sometimes it's people business. of and to for the remember that coming for for it's a it's what mortgage our

Brody Preston

Great, thank you my questions. taking really I appreciate for all it.

Nicole Stokes

Brody. thanks Great,

Operator

Marinac go Scott. with Please from [Operator Janney Instructions] ahead. comes question The next Christopher Montgomery

Christopher Marinac

Palmer business morning. you've bank time. long a been to other from good for Nicole, Thanks, able and long, mergers gain

of again? gets that makes curious do how of as once of that is or kind news any today's shuffled customers kind surprise. since with existing gets customers just I'm So Ameris deckchairs business what move locally more applied not it sort

Palmer Proctor

fairly from to you disruptive their having the markets. end we've which typical and too, think you moves lot we've is obviously a in key the is officer and be bank do execution bank, some I got growth benefited I of a because to a presence meaningful disruption, when when having also the to account market. leaves that about. result credit think disruptive approvals customer, another all with can of is there's the an the that and it start as changes lines, reporting it of start what Well, an people we're commitment in all be bank of of lot changes But side lot to in people. that lenders can But then

M&A, in with that furthermore, disruption think I a to and I lot forward. on, continue there line, going we'll capitalize we've of movement been So, in that's all terms reporting the of think, changes out able presented just to

Christopher Marinac

fair it that all more hires sides core lenders there's to of Is on just from bank? say, coming your the Palmer,

Palmer Proctor

for on comfort growth, our out the deliver have projections thing forecasts for need excited said, to the me terms Florida. to a new opportunities, new year. we've now. of in set we And we've coming the in say right the are and in are of our and being we several and the of them got markets, that new some folks initiatives lot folks There all of remainder especially from that But this I'm gives that Carolinas

move be to that we lift beyond as forward. incremental anything on we'll us, will So, which for capitalize continue

Christopher Marinac

priorities about from Ameris? great. the of last you me there couple is is for Okay, expect And or evolving next should What quarters? are how fintech question the we in at just new that initiatives

Palmer Proctor

on on a Canopy it the of the be are at the out time, forefront involved new exposed obviously lot technology. of lot of in gives that and I Fintop, like opportunity on think not we and heavily initiatives same us fintech but We've leading-edge, to it. that, stay of that to for an just staying embraced cutting-edge but the We're that. a the to us, Yes, there between

continue talked some areas we'll a in the for like continue robotics go mortgage. to in be us As volume lot before, you a there. to focus into of areas And about higher And out then, we've efficiencies that like roll of major our Premium Finance.

will -- We right But going an an rollout in got an the [indiscernible] largest forward, were efficiencies. sales two of active to over three to we've the to force in company. but you force company, have do, terms you aggressive have initiative now, utilizing in many sales entire the we throughout or thing, next see areas many we of think so got quarters. going there're the where you're of that gain I want important And things underway prioritize

more what on quite comfort road, obviously, we're pipelines. some right all that of yet. the open really where secure, processes else. me, in experimental the meaningful a so, might everyone for we've to type getting there got we robotics industry, of activity see prototypes force I not will have certainly now, bit and sales core we think as And to going or talk environment, is more is And into terms of that's just and front of front. a but architecture And down on, then don't opportunities on about going the do And make regulators continue workflow, to lot that little until has exciting the the got with our and we and we our which forward, We've that's managing and a investments.

that's out, I we [Ph] on lot ourselves think become meantime, a of year. to banks the that's now, but the a can in [prided] themselves years doing position to And probably what couple there's last be more efficient.

Christopher Marinac

ties expense that there's general. in elaborating back improvements core earlier, and Nicole was to on there that all and the Great, more

Palmer Proctor

Absolutely.

Nicole Stokes

Absolutely.

Palmer Proctor

talked how back sort we that in quite mortgages environment. you in expense is, the on immediately business. We've with place, concern frankly, Yes. creating reductions some office always that to you us, of scale about robotics do The without that? some question execute havoc, make and our to do or had allowed the And

from And garner efficiency so, that's the where you technology. really appreciating start

Christopher Marinac

background. the for Thanks Great.

Palmer Proctor

you. Thank

Operator

question-and-answer to closing any our like turn concludes would remarks. session. conference Palmer This over Proctor the for back I to

Palmer Proctor

tell and Thank our value. we to excited I've top growing for again, very earnings going like you I'd your on interest to you momentum Bank. But second result remain XXXX about thank And before, everyone feel second-half throughout call. into And and future. all as like much. we're as financial you our quartile again extremely our can quarter operating deliver for discipline the focused Ameris XXXX once time entire and the franchise efficiencies, listening the We're well-positioned your of to said the thank and results growth and on our continue and always for we're footprint, in to

Operator

you The conference for today's is Thank now presentation. attending concluded.

You may now disconnect.

Ameris Bancorp (ABCB) 23 Jul 212021 Q2 Earnings call transcript