$ABCB

Ameris Bancorp

CIK:0000351569|SEC Filings

Consolidated Statements of Income and Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest income
Interest and fees on loans	$ 326,705	$ 315,893	$ 644,588	$ 620,061
Interest on taxable securities	30,217	20,696	55,691	39,188
Interest on nontaxable securities	383	334	757	663
Interest on deposits in other banks	8,270	10,715	16,310	21,504
Total interest income	365,575	347,638	717,346	681,416
Interest expense
Interest on deposits	98,995	106,796	195,222	212,011
Interest on other borrowings	14,096	9,029	25,204	15,753
Total interest expense	113,091	115,825	220,426	227,764
Net interest income	252,484	231,813	496,920	453,652
Provision for loan losses	15,894	3,110	33,789	19,629
Provision for unfunded commitments	1,360	(335)	22	5,038
Provision for other credit losses	(1)	(3)	(7)	(3)
Provision for credit losses	17,253	2,772	33,804	24,664
Net interest income after provision for credit losses	235,231	229,041	463,116	428,988
Noninterest income
Service charges on deposit accounts	14,044	13,493	27,723	26,626
Mortgage banking activity	32,526	39,221	69,534	74,475
Other service charges, commissions and fees	1,065	1,158	2,092	2,267
Net gain on securities	7,392	0	7,392	40
Equipment finance activity	8,948	6,572	18,034	13,270
Other noninterest income	9,557	8,467	18,677	16,256
Total noninterest income	73,532	68,911	143,452	132,934
Noninterest expense
Salaries and employee benefits	91,494	89,308	182,860	175,923
Occupancy and equipment	12,555	11,401	24,180	22,078
Advertising and marketing	3,452	3,745	6,748	6,628
Amortization of intangible assets	3,114	4,076	6,507	8,179
Data processing and communications expenses	15,571	15,366	32,364	30,221
Legal and other professional fees	6,866	4,380	11,898	8,082
Credit resolution-related expenses	798	657	1,307	1,422
FDIC insurance	3,287	2,749	6,224	5,988
Loan servicing expense	7,205	7,897	14,585	15,720
Litigation accrual	82,530	121	82,625	1,191
Other noninterest expenses	15,842	15,560	30,496	30,862
Total noninterest expense	242,714	155,260	399,794	306,294
Income before income tax expense	66,049	142,692	206,774	255,628
Income tax expense	14,603	32,858	44,836	57,859
Net income	51,446	109,834	161,938	197,769
Other comprehensive income (loss)
Net unrealized holding gains (losses) arising during period on debt securities available-for-sale, net of tax expense (benefit) of $(4,841), $2,392, $(8,015) and $7,612	(14,985)	7,544	(24,773)	23,233
Reclassification adjustment for gains on debt securities included in earnings, net of tax expense of $15, $0, $15, and $0	(47)	0	(47)	0
Total other comprehensive income (loss)	(15,032)	7,544	(24,820)	23,233
Comprehensive income	$ 36,414	$ 117,378	$ 137,118	$ 221,002
Basic earnings per common share (in dollars per share)	$ 0.77	$ 1.60	$ 2.41	$ 2.88
Diluted earnings per common share (in dollars per share)	$ 0.77	$ 1.60	$ 2.40	$ 2.87
Weighted average common shares outstanding
Basic (in shares)	66,883,935	68,594,608	67,210,376	68,689,506
Diluted (in shares)	67,099,941	68,796,577	67,430,193	68,912,750

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities
Net income	$ 161,938	$ 197,769
Adjustments reconciling net income to net cash provided by operating activities:
Depreciation, amortization and accretion, net	11,184	16,476
Net gains on sale or disposal of premises and equipment	(24)	(121)
Provision for credit losses	33,804	24,664
Net write-downs and (gains) losses on sale of other real estate owned	(52)	(46)
Share-based compensation expense	7,809	6,452
Amortization of operating lease right of use assets	4,496	4,604
Provision for deferred taxes	(19,063)	(3,079)
Net gain on securities	(7,392)	(40)
Originations of mortgage loans held for sale	(2,020,197)	(2,087,452)
Payments received on mortgage loans held for sale	15,470	14,189
Proceeds from sales of mortgage loans held for sale	2,128,340	2,071,092
Net gains on mortgage loans held for sale	(13,772)	(19,163)
Originations of SBA loans held for sale	(10,331)	(22,771)
Proceeds from sales of SBA loans held for sale	11,157	24,135
Net gains on sale of SBA loans held for sale	(826)	(1,364)
Increase in cash surrender value of bank owned life insurance	(7,370)	(6,788)
Gain on bank owned life insurance proceeds	(846)	(12)
Gain on sale of mortgage servicing rights	0	(342)
Change attributable to other operating activities	42,244	(39,979)
Net cash provided by operating activities	336,569	178,224
Investing Activities
Purchases of debt securities available-for-sale	(523,011)	(475,276)
Purchases of debt securities held-to-maturity	(11,715)	(13,914)
Proceeds from maturities and paydowns of debt securities available-for-sale	154,645	307,585
Proceeds from sales of debt securities available-for-sale	86,167	0
Proceeds from maturities and paydowns of debt securities held-to-maturity	6,937	2,228
Net increase in other investments	(30,976)	(4,455)
Net increase in loans	(669,818)	(328,390)
Purchases of premises and equipment	(16,350)	(10,337)
Proceeds from sale of premises and equipment	39	150
Proceeds from sales of other real estate owned	1,758	3,548
Proceeds from bank owned life insurance	1,010	56,900
Net cash used in investing activities	(1,001,314)	(461,961)
Financing Activities
Net increase in deposits	211,578	210,227
Proceeds from other borrowings	6,970,000	2,615,000
Repayment of other borrowings	(6,277,981)	(2,530,119)
Dividends paid - common stock	(27,447)	(27,882)
Purchase of treasury shares	(103,212)	(33,596)
Net cash provided by financing activities	772,938	233,630
Net increase (decrease) in cash and cash equivalents	108,193	(50,107)
Cash and cash equivalents at beginning of period	1,088,920	1,220,377
Cash and cash equivalents at end of period	1,197,113	1,170,270
Cash paid during the period for:
Interest	213,847	228,903
Income taxes	78,887	98,579
Loans transferred to other real estate owned	2,831	2,894
Loans transferred from loans held for sale to loans held for investment	31,091	5,860
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 2,957	$ 2,363

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and due from banks	$ 237,431	$ 253,807
Interest-bearing deposits in banks	959,682	835,113
Cash and cash equivalents	1,197,113	1,088,920
Debt securities available-for-sale, at fair value, net of allowance for credit losses of $68 and $75	2,460,623	2,207,173
Debt securities held-to-maturity, at amortized cost, net of allowance for credit losses of $0 and $0 (fair value of $192,993 and $189,873)	208,155	203,242
Other investments	123,871	85,443
Loans held for sale, at fair value	482,220	623,152
Loans, net of unearned income	22,177,865	21,513,522
Allowance for credit losses	(359,513)	(348,141)
Loans, net	21,818,352	21,165,381
Other real estate owned, net	4,043	2,918
Premises and equipment, net	220,500	213,097
Goodwill	1,015,646	1,015,646
Other intangible assets, net	48,317	54,824
Cash value of bank owned life insurance	427,789	420,583
Other assets	482,214	435,500
Total assets	28,488,843	27,515,879
Deposits:
Noninterest-bearing	6,782,882	6,426,145
Interest-bearing	15,804,691	15,949,850
Total deposits	22,587,573	22,375,995
Other borrowings	1,250,049	558,039
Subordinated deferrable interest debentures	135,299	134,302
Other liabilities	425,345	371,515
Total liabilities	24,398,266	23,439,851
Commitments and Contingencies (Note 8)
Shareholders’ Equity
Preferred stock, stated value $1,000; 5,000,000 shares authorized; 0 shares issued and outstanding	0	0
Common stock, par value $1; 200,000,000 shares authorized; 73,264,873 and 72,898,342 shares issued, respectively	73,265	72,898
Capital surplus	1,978,573	1,971,131
Retained earnings	2,345,292	2,210,385
Accumulated other comprehensive income (loss), net of tax	(16,508)	8,312
Treasury stock, at cost, 6,158,286 and 4,876,026 shares, respectively	(290,045)	(186,698)
Total shareholders’ equity	4,090,577	4,076,028
Total liabilities and shareholders’ equity	$ 28,488,843	$ 27,515,879