Ameris Bancorp: Q3 FY2025 earnings call

What management said about Q3 FY2025, from the documents filed with the SEC on 27 October 2025: press release. Guidance figures: 1 raised. The quarter’s numbers.

Key takeaways

Net income and EPS rose: Net income was $106.0 million, or $1.54 per diluted share, against $99.2 million, or $1.44, a year earlier. Year-to-date net income was $303.8 million, or $4.41 per diluted share. Source
Net interest income rose 2.7%: Net interest income on a tax-equivalent basis was $238.9 million, up $6.2 million from the second quarter and 11.1% above the third quarter of 2024. Source
Retail mortgage production fell 13.7%: Retail mortgage production fell to $1.09 billion from $1.27 billion in the second quarter. Source
Net interest margin reached 3.80%: Net interest margin was 3.80%, up 3 basis points from 3.77% in the second quarter and 29 basis points from the third quarter of 2024. Source
Efficiency ratio improved to 49.19%: The efficiency ratio improved to 49.19% from 51.63% in the second quarter and 53.49% a year earlier. Source
Tangible book value rose $1.58: Tangible book value per share grew $1.58 to $42.90, or 15.2% annualized, and the TCE ratio reached 11.31%. Source
Provision for credit losses rose: Provision for credit losses was $22.6 million, up from $2.8 million in the second quarter. Source

“Our performance continues to be outstanding, with a third quarter return on assets of 1.56% and return on tangible common equity of 14.6%.”
Palmer Proctor, the Company’s Chief Executive Officer

Guidance

Area	Period	Figure	Against last quarter
Share repurchases Source	Through October 31, 2026	Up to $200 million	Raised

What changed from last quarter

New: The company redeemed its 3.875% subordinated notes due 2030 at par on October 1, 2025, totaling $110 million, after quarter end. Source

Results and growth drivers

Net income and EPS rose: Net income was $106.0 million, or $1.54 per diluted share, against $99.2 million, or $1.44, a year earlier. Year-to-date net income was $303.8 million, or $4.41 per diluted share. Source
Net interest income rose 2.7%: Net interest income on a tax-equivalent basis was $238.9 million, up $6.2 million from the second quarter and 11.1% above the third quarter of 2024. Source
Noninterest income rose 10.7%: Noninterest income reached $76.3 million, up from $68.9 million in the second quarter. Source
Earning assets grew 7.6% annualized: Earning assets grew by $469.8 million during the quarter, or 7.6% annualized. Source
Effective tax rate eased to 22.6%: The effective tax rate was 22.6%, compared with 23.0% in the second quarter. Source

Segments and regions

Banking division net income declined: Banking division net income was $75.1 million, down from $82.6 million, while its net interest income rose to $198.1 million. Source
Retail mortgage net income increased: Retail Mortgage Division net income was $18.7 million, up from $15.6 million, with noninterest income of $40.1 million. Source
Premium finance net income increased: Premium Finance Division net income was $6.4 million, up from $5.5 million, while Warehouse Lending Division net income was $5.8 million, down from $6.2 million. Source
Premium finance loans grew: Premium finance loans reached $1.36 billion, up from $1.29 billion in the second quarter; warehouse loans eased to $1.08 billion. Source

“Our net interest margin of 3.80% places us among the top performers across the industry.”
Palmer Proctor, the Company’s Chief Executive Officer

Products and customers

Retail mortgage production fell 13.7%: Retail mortgage production fell to $1.09 billion from $1.27 billion in the second quarter. Source
Mortgage banking activity rose 3.7%: Mortgage banking activity was $40.7 million, up $1.4 million, even as production declined. Source
Equipment finance and derivative fees rose: Equipment finance activity rose $2.3 million, derivative fee income rose $1.4 million, and securities sales produced a $1.6 million gain. Source
Noninterest-bearing deposits reached 30.4%: Noninterest-bearing deposits were $6.76 billion, or 30.4% of total deposits, up from 29.9% at December 31, 2024. Source

Costs, margins and pricing

Net interest margin reached 3.80%: Net interest margin was 3.80%, up 3 basis points from 3.77% in the second quarter and 29 basis points from the third quarter of 2024. Source
Deposit costs edged lower: Deposit costs fell one basis point to 1.94%, and total cost of funds fell one basis point to 2.05%. Source
Efficiency ratio improved to 49.19%: The efficiency ratio improved to 49.19% from 51.63% in the second quarter and 53.49% a year earlier. Source
Expenses fell on mortgage volume: Noninterest expense decreased $694,000 to $154.6 million, mainly from variable costs tied to mortgage production. Source
Banking division expenses rose: Banking division expenses rose $2.1 million on incentive compensation and healthcare costs, partly offset by lower check card and fraud losses. Source
Earning asset yield rose slightly: Yield on earning assets rose two basis points to 5.66%, with the company citing higher yields on taxable securities. Source

“we are well positioned to take advantage of the growth potential across our Southeast franchise in 2026 and beyond.”
Palmer Proctor, the Company’s Chief Executive Officer

Demand and the order book

Unfunded commitments grew $190.9 million: Unfunded commitments increased $190.9 million, which the company linked to production during the quarter. Source
Loans grew at 4.1% annualized: Loans rose $216.9 million, or 4.1% annualized, to $21.26 billion; commercial real estate was the largest loan category. Source
Deposits grew $295.4 million: Deposits grew $295.4 million, led by money market accounts up $242.1 million and brokered CDs up $66.7 million. Source
Available-for-sale securities grew: Available-for-sale debt securities rose to $2.13 billion from $1.87 billion at June 30, 2025. Source

Capital, cash and shareholder returns

Tangible book value rose $1.58: Tangible book value per share grew $1.58 to $42.90, or 15.2% annualized, and the TCE ratio reached 11.31%. Source
Equity rose on nine-month earnings: Shareholders' equity reached $4.02 billion, up 7.1% this year, mainly from earnings and higher other comprehensive income, partly offset by dividends and repurchases. Source
Repurchased 125,900 shares in quarter: The company repurchased 125,900 shares of its common stock during the third quarter. Source
Prior program bought $36.3 million: Under the expiring program, the company repurchased $36.3 million of common stock over the past 12 months. Source
Quarterly dividend held at $0.20: Cash dividends were $0.20 per share in each 2025 quarter, up from $0.15 in the 2024 quarters. Source

Credit quality

Provision for credit losses rose: Provision for credit losses was $22.6 million, up from $2.8 million in the second quarter. Source
Unfunded commitments drove most provision: About $11.4 million, or 50.6% of the provision, related to higher unfunded commitments at period end. Source
Loan allowance held near 1.62%: The allowance on loans was 1.62% of loans at September 30, 2025, versus 1.63% at year-end 2024. Source
Net charge-offs flat at 14 basis points: The net charge-off ratio was 14 basis points, unchanged from the second quarter. Source
Nonperforming assets rose to 0.40%: Nonperforming assets were 0.40% of total assets, up four basis points during the quarter. Source
GNMA loans made up 18% of NPAs: About $19.7 million, or 18.0%, of nonperforming assets were GNMA-guaranteed loans with minimal loss exposure; excluding them the ratio was 0.33%. Source

People and leadership

Headcount rose to 2,700: Total full-time equivalent headcount was 2,700 at September 30, 2025, up from 2,672 at June 30, 2025. Source
Branch count unchanged at 164: Branch locations remained at 164, and deposits per branch location rose to $135,537. Source

Figures management reported

Figure	Reported
Net interest margin Source	3.80%
Net interest income Source	$238.9 million
Loans and loan growth Source	$21.26 billion
Deposits Source	$22.23 billion
Deposit costs Source	1.94%
Provision for credit losses Source	$22.6 million
Net charge-offs Source	0.14% of average total loans
Nonperforming assets Source	0.40% of total assets
Efficiency ratio Source	49.19%

Risks management discussed

Demand: Gain on sale spreads narrowed to 2.20% from 2.22% as retail mortgage production declined during the quarter. Source
Regulatory: Enacted state tax rate changes affected the effective tax rate; their impact was smaller in the third quarter than in the second. Source

Earlier plans management reported on

Met: The company redeemed the 5.875% notes in full on the September 1, 2025 payment date, as previously notified. Source

Other quarters

Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.

As filed with the SEC

Open the filing on EDGAR

AMERIS BANCORP ANNOUNCES THIRD QUARTER 2025 FINANCIAL RESULTS

Highlights of Ameris’s results for the third quarter of 2025 include the following:

Net income of $106.0 million, or $1.54 per diluted share
Return on average assets of 1.56%
Return on average tangible common equity of 14.57%
Tangible book value growth of $1.58 per share, or 15.2% annualized, to $42.90 at September 30, 2025
TCE ratio increase to 11.31%, compared with 10.24% one year ago
Net interest margin (TE) expansion of 3bps to 3.80% for the third quarter of 2025
Efficiency ratio improvement to 49.19%
Growth in net interest income of $6.2 million, or 10.5% annualized, from second quarter of 2025
Growth in earning assets of $469.8 million, or 7.6% annualized
Loan growth of $216.9 million, or 4.1% annualized
Annualized net charge-offs stable at 0.14% of average total loans

ATLANTA, GA, October 27, 2025 - Ameris Bancorp (NYSE: ABCB) (the “Company”) today reported net income of $106.0 million, or $1.54 per diluted share, for the quarter ended September 30, 2025, compared with $99.2 million, or $1.44 per diluted share, for the quarter ended September 30, 2024.

For the year-to-date period ending September 30, 2025, the Company reported net income of $303.8 million, or $4.41 per diluted share, compared with $264.3 million, or $3.83 per diluted share, for the same period in 2024.

Commenting on the Company’s results, Palmer Proctor, the Company’s Chief Executive Officer, said, “Our performance continues to be outstanding, with a third quarter return on assets of 1.56% and return on tangible common equity of 14.6%. Our focus on sustainable growth in both core deposits and tangible book value per share was again evident in the quarter. Deposits grew 5% annualized while our non-interest bearing deposit mix remained over 30%. Tangible book value grew by more than 15% annualized to almost $43 per share. Our net interest margin of 3.80% places us among the top performers across the industry. The efficiency ratio remained low, aided by approximately 18% annualized revenue growth. Given our robust capital levels and proven track record, we are well positioned to take advantage of the growth potential across our Southeast franchise in 2026 and beyond.”

Net Interest Income and Net Interest Margin

Net interest income on a tax-equivalent basis (TE) grew to $238.9 million in the third quarter of 2025, an increase of $6.2 million, or 2.7%, from last quarter and an increase of $23.9 million, or 11.1%, compared with the third quarter of 2024. The Company's average earning assets increased during the quarter by $186.0 million, or 3.0% annualized, due to an increase of $168.4 million in the average balance of investment securities and an increase of $109.5 million in average portfolio loans outstanding.

The Company's net interest margin expanded to 3.80% for the third quarter of 2025, a three basis point increase from 3.77% reported for the second quarter of 2025 and a 29 basis point improvement from the 3.51% reported for the third quarter of 2024.

Yields on earning assets increased two basis points during the quarter to 5.66%, compared with 5.64% in the second quarter of 2025. This increase is primarily related to a 12 basis point increase in yield on taxable securities and a two basis point increase in yield on portfolio loans during the third quarter of 2025.

The Company’s total cost of funds decreased one basis point to 2.05% in the third quarter of 2025, compared with 2.06% in the second quarter of 2025, and improved 45 basis points compared with the third quarter of 2024. Deposit costs decreased one basis point during the third quarter of 2025 to 1.94%, compared with 1.95% in the second quarter of 2025. Costs of interest-bearing deposits during the quarter were 2.82%, a decrease of one basis point compared to the second quarter of 2025.

Noninterest Income

Noninterest income increased $7.4 million, or 10.7%, in the third quarter of 2025 to $76.3 million, compared with $68.9 million for the second quarter of 2025, driven primarily by increases of $2.3 million in equipment finance activity, $1.4 million in derivative fee income and a $1.6 million gain on the sale of securities. Mortgage banking activity increased $1.4 million, or 3.7%, to $40.7 million in the third quarter of 2025, compared with $39.2 million for the second quarter of 2025. Total production in the retail mortgage division decreased $173.2 million, or 13.7%, to $1.09 billion in the third quarter of 2025, compared with $1.27 billion for the second quarter of 2025. The retail mortgage open pipeline was $787.2 million at the end of the third quarter of 2025, compared with $719.1 million for the second quarter of 2025. Gain on sale spreads decreased to 2.20% in the third quarter of 2025 from 2.22% for the second quarter of 2025. Other noninterest income increased $1.6 million, or 19.5%, in the third quarter of 2025 to $10.1 million, compared with $8.5 million for the second quarter of 2025, primarily from derivative fee income.

Noninterest Expense

Noninterest expense decreased $694,000, or 0.4%, to $154.6 million during the third quarter of 2025, compared with $155.3 million for the second quarter of 2025. The decrease in noninterest expense primarily resulted from variable expenses tied to mortgage production levels. This decrease was partially offset by an increase in banking division expenses of $2.1 million driven by increases in incentive compensation and healthcare costs, offset by decreases in check card and fraud losses. Management continues to focus on operating efficiency, and the efficiency ratio improved to 49.19% in the third quarter of 2025, compared with 51.63% in the second quarter of 2025 and 53.49% in the third quarter of 2024.

Income Tax Expense

The Company's effective tax rate for the third quarter of 2025 was 22.6%, compared with 23.0% for the second quarter of 2025. The decreased rate resulted primarily from a reduction in the impact of enacted state tax rate changes compared with the second quarter of 2025.

Balance Sheet Trends

Total assets at September 30, 2025 were $27.10 billion, compared with $26.68 billion at June 30, 2025 and $26.26 billion at December 31, 2024. During the third quarter of 2025, loans, net of unearned income, increased by $216.9 million, or 4.1% annualized, to end at $21.26 billion at September 30, 2025, compared with $21.04 billion at June 30, 2025 and $20.74 billion at December 31, 2024. Unfunded commitments increased $190.9 million during the third quarter of 2025, due to strong production during the quarter. Loans held for sale increased to $604.1 million at September 30, 2025 from $528.6 million at December 31, 2024. Debt securities available-for-sale amounted to $2.13 billion, compared with $1.87 billion at June 30, 2025 and $1.67 billion at December 31, 2024.

At September 30, 2025, total deposits amounted to $22.23 billion, compared with $21.72 billion at December 31, 2024. During the third quarter of 2025, deposits grew $295.4 million, with money market accounts increasing $242.1 million, brokered CDs increasing $66.7 million and interest-bearing demand accounts increasing $58.8 million. Such increases were offset by decreases in noninterest-bearing accounts of $43.3 million, retail CDs of $19.5 million, and savings accounts of $9.4 million. Noninterest-bearing accounts as a percentage of total deposits increased, such that at September 30, 2025, noninterest-bearing deposit accounts represented $6.76 billion, or 30.4% of total deposits, compared with $6.50 billion, or 29.9% of total deposits, at December 31, 2024.

Shareholders’ equity at September 30, 2025 totaled $4.02 billion, an increase of $265.2 million, or 7.1%, from December 31, 2024. The increase in shareholders’ equity was primarily the result of earnings of $303.8 million during the first nine months of 2025 and an improvement in other comprehensive income of $35.3 million resulting from changes in interest rates on the Company's investment portfolio, partially offset by dividends declared and share repurchases. Tangible book value per share increased $4.31 per share, or 14.9% annualized, during the first nine months of 2025 to $42.90 at September 30, 2025. Tangible common equity as a percentage of tangible assets was 11.31% at September 30, 2025, compared with 10.59% at the end of 2024. The Company repurchased 125,900 shares of its common stock in the quarter ending September 30, 2025.

Subordinated Debt

The Company redeemed its 5.875% Fixed-To-Floating Rate Subordinated Notes due 2030 in full on the September 1, 2025 interest payment date. These notes, which totaled $74 million outstanding, bore interest at 8.22% and were redeemed at par.

On October 1, 2025, the Company redeemed in full its 3.875% Fixed-To-Floating Rate Subordinated Notes due 2030, which totaled $110 million outstanding, at par.

Share Repurchase Program

On October 20, 2025, the Company announced its board of directors authorized the Company to repurchase up to $200 million of its outstanding common stock. Repurchases of shares, which are authorized to occur through October 31, 2026, will be made, if at all, in accordance with applicable securities laws and may be made from time to time in the open market or by negotiated transactions. The amount and timing of repurchases will be based on a variety of factors, including share acquisition price, regulatory limitations and other market and economic factors. The program does not require the Company to repurchase any specific number of shares. The board's authorization is a continuation of and increase in the Company's previously announced share repurchase program which was set to expire on October 31, 2025 and under which the Company has repurchased $36.3 million of its outstanding common stock in the past 12 months.

Credit Quality

During the third quarter of 2025, the Company recorded a provision for credit losses of $22.6 million, compared with a provision of $2.8 million in the second quarter of 2025. Approximately $11.4 million, or 50.6% of the provision expense, was related to the increased unfunded commitments at September 30, 2025. The allowance for credit losses on loans was 1.62% of loans at September 30, 2025, compared with 1.63% at the end of 2024. Nonperforming assets as a percentage of total assets increased four basis points to 0.40% during the quarter. Approximately $19.7 million, or 18.0%, of the nonperforming assets at September 30, 2025 were GNMA-guaranteed mortgage loans, which have minimal loss exposure. Excluding these government-guaranteed loans, nonperforming assets as a percentage of total assets increased one basis point to 0.33% at September 30, 2025, compared with 0.32% at the end of the second quarter of 2025. The net charge-off ratio was 14 basis points for the third quarter of 2025, unchanged from the second quarter of 2025.

Conference Call

The Company will host a teleconference at 9:00 a.m. Eastern time on Tuesday, October 28, 2025, 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 November 4, 2025. To listen to the replay, dial 1-877-344-7529. The conference replay access code is 9368487. 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 financial centers in five southeastern states and also serves consumer and business customers nationwide through select lending channels. Ameris manages $27.1 billion in assets as of September 30, 2025, 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.

Considered non-GAAP financial measure - See reconciliation of GAAP to non-GAAP financial measures in tables 9A - 9D.

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.

Forward-looking statements notice

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 and payment behavior 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 trade, monetary and fiscal policies, including tariffs; competitive pressures on product pricing and services; fraud, theft or other misconduct impacting our customers or operations; cybersecurity risks, including data breaches, malware, ransomware and account takeover; the success and timing of our business strategies and plans; 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, 2024 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

(404) 240-1517

AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES
Financial Highlights	Table 1
	Three Months Ended										Nine Months Ended
	Sep		Jun		Mar		Dec		Sep		Sep		Sep
(dollars in thousands except per share data)		2025		2025		2025		2024		2024		2025		2024
EARNINGS
Net income	$106,029		$109,834		$87,935		$94,376		$99,212		$303,798		$264,309
Adjusted net income	$105,289		$109,444		$88,044		$95,078		$95,187		$302,777		$251,562
COMMON SHARE DATA
Earnings per share available to common shareholders
Basic	$1.55		$1.60		$1.28		$1.37		$1.44		$4.43		$3.84
Diluted	$1.54		$1.60		$1.27		$1.37		$1.44		$4.41		$3.83
Adjusted diluted EPS	$1.53		$1.59		$1.28		$1.38		$1.38		$4.40		$3.64
Cash dividends per share	$0.20		$0.20		$0.20		$0.15		$0.15		$0.60		$0.45
Book value per share (period end)	$58.56		$57.02		$55.49		$54.32		$53.30		$58.56		$53.30
Tangible book value per share (period end)	$42.90		$41.32		$39.78		$38.59		$37.51		$42.90		$37.51
Weighted average number of shares
Basic	68,401,737		68,594,608		68,785,458		68,799,464		68,798,093		68,592,529		68,811,727
Diluted	68,665,669		68,796,577		69,030,331		69,128,946		69,066,298		68,830,787		69,031,666
Period end number of shares	68,587,742		68,711,043		68,910,924		69,068,609		69,067,019		68,587,742		69,067,019
Market data
High intraday price	$76.58		$65.43		$68.85		$74.56		$65.40		$76.58		$65.40
Low intraday price	$64.30		$48.27		$55.32		$59.12		$48.21		$48.27		$44.00
Period end closing price	$73.31		$64.70		$57.57		$62.57		$62.39		$73.31		$62.39
Average daily volume	435,766		416,355		430,737		384,406		379,896		427,673		362,808
PERFORMANCE RATIOS
Return on average assets	1.56%		1.65%		1.36%		1.42%		1.49%		1.52%		1.36%
Adjusted return on average assets	1.55%		1.64%		1.36%		1.43%		1.43%		1.52%		1.30%
Return on average common equity	10.61%		11.40%		9.39%		10.09%		10.91%		10.48%		9.98%
Adjusted return on average tangible common equity	14.46%		15.76%		13.16%		14.37%		14.99%		14.48%		13.77%
Earning asset yield (TE)	5.66%		5.64%		5.61%		5.67%		5.81%		5.64%		5.80%
Total cost of funds	2.05%		2.06%		2.06%		2.22%		2.50%		2.06%		2.46%
Net interest margin (TE)	3.80%		3.77%		3.73%		3.64%		3.51%		3.77%		3.53%
Efficiency ratio	49.19%		51.63%		52.83%		52.26%		53.49%		51.16%		53.52%
Adjusted efficiency ratio (TE)	49.47%		51.58%		52.62%		51.82%		54.25%		51.18%		54.61%
CAPITAL ADEQUACY (period end)
Shareholders' equity to assets	14.82%		14.68%		14.42%		14.28%		13.94%		14.82%		13.94%
Tangible common equity to tangible assets	11.31%		11.09%		10.78%		10.59%		10.24%		11.31%		10.24%
OTHER DATA (period end)
Full time equivalent employees
Banking Division	2,068		2,036		2,045		2,021		2,056		2,068		2,056
Retail Mortgage Division	546		550		577		585		592		546		592
Warehouse Lending Division	8		8		7		8		9		8		9
Premium Finance Division	78		78		81		77		76		78		76
Total Ameris Bancorp FTE headcount	2,700		2,672		2,710		2,691		2,733		2,700		2,733
Branch locations	164		164		164		164		164		164		164
Deposits per branch location	$135,537		$133,736		$133,612		$132,454		$133,410		$135,537		$133,410
Considered non-GAAP financial measure - See reconciliation of GAAP to non-GAAP financial measures in tables 9A - 9D

AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES
Income Statement	Table 2
	Three Months Ended										Nine Months Ended
	Sep		Jun		Mar		Dec		Sep		Sep		Sep
(dollars in thousands except per share data)		2025		2025		2025		2024		2024		2025		2024
Interest income
Interest and fees on loans	$321,457		$315,893		$304,168		$318,843		$325,622		$941,518		$946,679
Interest on taxable securities	23,253		20,696		18,492		15,923		15,555		62,441		45,595
Interest on nontaxable securities	343		334		329		337		336		1,006		1,001
Interest on deposits in other banks	9,993		10,715		10,789		11,260		13,633		31,497		38,646
Total interest income	355,046		347,638		333,778		346,363		355,146		1,036,462		1,031,921
Interest expense
Interest on deposits	106,851		106,796		105,215		115,556		129,698		318,862		369,117
Interest on other borrowings	10,231		9,029		6,724		8,986		11,388		25,984		35,435
Total interest expense	117,082		115,825		111,939		124,542		141,086		344,846		404,552
Net interest income	237,964		231,813		221,839		221,821		214,060		691,616		627,369
Provision for loan losses	11,176		3,110		16,519		12,657		6,313		30,805		57,184
Provision for unfunded commitments	11,446		(335)		5,373		148		(204)		16,484		(11,196)
Provision for other credit losses	8		(3)		-		3		(2)		5		(3)
Provision for credit losses	22,630		2,772		21,892		12,808		6,107		47,294		45,985
Net interest income after provision for credit losses	215,334		229,041		199,947		209,013		207,953		644,322		581,384
Noninterest income
Service charges on deposit accounts	13,931		13,493		13,133		13,544		12,918		40,557		37,349
Mortgage banking activity	40,666		39,221		35,254		36,699		37,947		115,141		123,776
Other service charges, commissions and fees	1,124		1,158		1,109		1,182		1,163		3,391		3,576
Gain (loss) on securities	1,581		-		40		(16)		(8)		1,621		12,320
Equipment finance activity	8,858		6,572		6,698		5,947		5,398		22,128		15,717
Other noninterest income	10,114		8,467		7,789		11,603		12,291		26,370		31,560
Total noninterest income	76,274		68,911		64,023		68,959		69,709		209,208		224,298
Noninterest expense
Salaries and employee benefits	90,948		89,308		86,615		87,810		88,700		266,871		259,831
Occupancy and equipment	11,524		11,401		10,677		11,624		11,716		33,602		37,160
Data processing and communications expenses	16,058		15,366		14,855		14,631		15,221		46,279		45,068
Credit resolution-related expenses	770		657		765		1,271		(110)		2,192		1,216
Advertising and marketing	3,377		3,745		2,883		2,730		3,959		10,005		10,205
Amortization of intangible assets	3,879		4,076		4,103		4,180		4,180		12,058		13,009
Other noninterest expenses	28,010		30,707		31,136		29,703		28,111		89,853		89,356
Total noninterest expense	154,566		155,260		151,034		151,949		151,777		460,860		455,845
Income before income tax expense	137,042		142,692		112,936		126,023		125,885		392,670		349,837
Income tax expense	31,013		32,858		25,001		31,647		26,673		88,872		85,528
Net income	$106,029		$109,834		$87,935		$94,376		$99,212		$303,798		$264,309
Diluted earnings per common share	$1.54		$1.60		$1.27		$1.37		$1.44		$4.41		$3.83
(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
	Sep		Jun		Mar		Dec		Sep
(dollars in thousands)		2025		2025		2025		2024		2024
Assets
Cash and due from banks	$216,927		$249,676		$253,289		$244,980		$231,515
Interest-bearing deposits in banks	826,237		920,594		1,039,111		975,397		1,127,641
Debt securities available-for-sale, at fair value	2,131,671		1,871,298		1,943,011		1,671,260		1,441,552
Debt securities held-to-maturity, at amortized cost	202,581		176,487		173,757		164,677		161,220
Other investments	70,644		69,910		65,630		66,298		63,899
Loans held for sale	604,136		544,091		545,388		528,599		553,379
Loans, net of unearned income	21,258,374		21,041,497		20,706,644		20,739,906		20,964,981
Allowance for credit losses	(345,294)		(341,567)		(345,555)		(338,084)		(334,457)
Loans, net	20,913,080		20,699,930		20,361,089		20,401,822		20,630,524
Other real estate owned	3,137		1,825		863		2,433		9,482
Premises and equipment, net	211,567		211,434		207,895		209,460		210,931
Goodwill	1,015,646		1,015,646		1,015,646		1,015,646		1,015,646
Other intangible assets, net	58,703		62,582		66,658		70,761		74,941
Cash value of bank owned life insurance	417,096		414,381		410,890		408,574		460,699
Other assets	428,404		442,299		431,713		502,143		418,353
Total assets	$27,099,829		$26,680,153		$26,514,940		$26,262,050		$26,399,782
Liabilities
Deposits
Noninterest-bearing	$6,757,233		$6,800,519		$6,744,781		$6,498,293		$6,670,320
Interest-bearing	15,470,845		15,132,156		15,167,628		15,224,155		15,208,945
Total deposits	22,228,078		21,932,675		21,912,409		21,722,448		21,879,265
Other borrowings	337,094		376,700		276,744		291,788		346,446
Subordinated deferrable interest debentures	133,804		133,306		132,807		132,309		131,811
Other liabilities	384,152		319,794		369,178		363,983		360,892
Total liabilities	23,083,128		22,762,475		22,691,138		22,510,528		22,718,414
Shareholders' Equity
Preferred stock	-		-		-		-		-
Common stock	72,900		72,897		72,885		72,699		72,698
Capital stock	1,968,124		1,964,896		1,961,732		1,958,642		1,954,532
Retained earnings	2,115,712		2,023,493		1,927,489		1,853,428		1,772,989
Accumulated other comprehensive income (loss), net of tax	5,171		(6,886)		(14,430)		(30,119)		(15,724)
Treasury stock	(145,206)		(136,722)		(123,874)		(103,128)		(103,127)
Total shareholders' equity	4,016,701		3,917,678		3,823,802		3,751,522		3,681,368
Total liabilities and shareholders' equity	$27,099,829		$26,680,153		$26,514,940		$26,262,050		$26,399,782
Other Data
Earning assets	$25,093,643		$24,623,877		$24,473,541		$24,146,137		$24,312,672
Intangible assets	1,074,349		1,078,228		1,082,304		1,086,407		1,090,587
Interest-bearing liabilities	15,941,743		15,642,162		15,577,179		15,648,252		15,687,202
Average assets	26,972,134		26,757,322		26,229,423		26,444,894		26,442,984
Average common shareholders' equity	3,964,207		3,865,031		3,798,149		3,719,888		3,618,052

AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES
Asset Quality Information	Table 4
	Three Months Ended										Nine Months Ended
	Sep		Jun		Mar		Dec		Sep		Sep		Sep
(dollars in thousands)		2025		2025		2025		2024		2024		2025		2024
Allowance for Credit Losses
Balance at beginning of period	$377,181		$381,507		$368,663		$364,885		$366,852		$368,663		$348,727
Provision for loan losses	11,176		3,110		16,519		12,657		6,313		30,805		57,184
Provision for unfunded commitments	11,446		(335)		5,373		148		(204)		16,484		(11,196)
Provision for other credit losses	8		(3)		-		3		(2)		5		(3)
Provision for credit losses	22,630		2,772		21,892		12,808		6,107		47,294		45,985
Charge-offs	13,631		14,227		15,383		17,460		15,352		43,241		50,654
Recoveries	6,182		7,129		6,335		8,430		7,278		19,646		20,827
Net charge-offs (recoveries)	7,449		7,098		9,048		9,030		8,074		23,595		29,827
Ending balance	$392,362		$377,181		$381,507		$368,663		$364,885		$392,362		$364,885
Allowance for loan losses	$345,294		$341,567		$345,555		$338,084		$334,457		$345,294		$334,457
Allowance for unfunded commitments	46,994		35,548		35,883		30,510		30,362		46,994		30,362
Allowance for other credit losses	74		66		69		69		66		74		66
Total allowance for credit losses	$392,362		$377,181		$381,507		$368,663		$364,885		$392,362		$364,885
Non-Performing Assets
Nonaccrual portfolio loans	$77,257		$75,286		$86,229		$90,206		$87,339		$77,257		$87,339
Other real estate owned	3,137		1,825		863		2,433		9,482		3,137		9,482
Repossessed assets	3		2		-		9		19		3		19
Accruing loans delinquent 90 days or more	9,325		8,415		14,930		17,733		12,234		9,325		12,234
Non-performing portfolio assets	$89,722		$85,528		$102,022		$110,381		$109,074		$89,722		$109,074
Serviced GNMA-guaranteed mortgage nonaccrual loans	19,706		11,733		13,441		12,012		8,168		19,706		8,168
Total non-performing assets	$109,428		$97,261		$115,463		$122,393		$117,242		$109,428		$117,242
Asset Quality Ratios
Non-performing portfolio assets as a percent of total assets	0.33%		0.32%		0.38%		0.42%		0.41%		0.33%		0.41%
Total non-performing assets as a percent of total assets	0.40%		0.36%		0.44%		0.47%		0.44%		0.40%		0.44%
Net charge-offs as a percent of average loans (annualized)	0.14%		0.14%		0.18%		0.17%		0.15%		0.15%		0.19%

AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES
Loan Information	Table 5
	Sep		Jun		Mar		Dec		Sep
(dollars in thousands)		2025		2025		2025		2024		2024
Loans by Type
Commercial and industrial	$3,299,269		$3,184,211		$3,075,971		$2,953,135		$2,949,957
Consumer	202,688		209,990		213,902		221,735		221,201
Mortgage warehouse	1,083,941		1,092,475		891,412		965,053		985,910
Municipal	437,823		436,759		429,227		441,408		449,561
Premium Finance	1,358,259		1,294,293		1,176,309		1,155,614		1,246,452
Real estate - construction and development	1,411,178		1,485,842		1,842,431		1,998,506		2,232,114
Real estate - commercial and farmland	9,054,927		8,877,750		8,574,626		8,445,958		8,249,981
Real estate - residential	4,410,289		4,460,177		4,502,766		4,558,497		4,629,805
Total loans	$21,258,374		$21,041,497		$20,706,644		$20,739,906		$20,964,981
Loans by Risk Grade
Pass	$21,058,458		$20,820,888		$20,468,496		$20,457,340		$20,676,342
Other assets especially mentioned	37,236		66,677		73,783		110,936		124,479
Substandard	162,680		153,932		164,365		171,630		164,160
Total loans	$21,258,374		$21,041,497		$20,706,644		$20,739,906		$20,964,981

AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES
Average Balances	Table 6
	Three Months Ended										Nine Months Ended
	Sep		Jun		Mar		Dec		Sep		Sep		Sep
(dollars in thousands)		2025		2025		2025		2024		2024		2025		2024
Earning Assets
Interest-bearing deposits in banks	$883,976		$951,851		$980,164		$899,162		$997,308		$938,312		$940,548
Debt securities - taxable	2,282,470		2,117,596		1,998,226		1,761,984		1,733,418		2,133,805		1,665,902
Debt securities - nontaxable	44,823		41,299		41,391		41,494		41,496		42,517		41,393
Loans held for sale	706,679		730,770		565,531		795,904		575,461		668,177		463,680
Loans	21,038,350		20,928,825		20,620,777		20,868,216		21,023,629		20,864,180		20,722,659
Total Earning Assets	$24,956,298		$24,770,341		$24,206,089		$24,366,760		$24,371,312		$24,646,991		$23,834,182
Deposits
Noninterest-bearing deposits	$6,849,129		$6,766,557		$6,522,784		$6,684,851		$6,622,952		$6,714,016		$6,528,572
NOW accounts	3,900,999		3,939,802		3,988,458		3,888,404		3,753,528		3,942,766		3,802,501
MMDA	6,977,134		6,918,382		6,911,554		6,864,265		6,508,770		6,935,931		6,238,615
Savings accounts	756,383		766,331		767,148		761,980		765,909		763,248		781,072
Retail CDs	2,344,084		2,393,402		2,436,974		2,474,804		2,478,875		2,391,146		2,429,505
Brokered CDs	1,070,735		1,145,043		962,768		1,057,808		1,493,352		1,059,911		1,347,836
Total Deposits	21,898,464		21,929,517		21,589,686		21,732,112		21,623,386		21,807,018		21,128,101
Non-Deposit Funding
Federal funds purchased and securities sold under agreements to repurchase	1		-		-		-		-		-		-
FHLB advances	443,243		326,054		149,537		215,116		358,332		307,354		375,328
Other borrowings	169,994		193,492		193,494		279,961		298,073		185,574		304,554
Subordinated deferrable interest debentures	133,541		133,043		132,544		132,048		131,547		133,046		131,052
Total Non-Deposit Funding	746,779		652,589		475,575		627,125		787,952		625,974		810,934
Total Funding	$22,645,243		$22,582,106		$22,065,261		$22,359,237		$22,411,338		$22,432,992		$21,939,035

AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES
Interest Income and Interest Expense (TE)	Table 7
	Three Months Ended										Nine Months Ended
	Sep		Jun		Mar		Dec		Sep		Sep		Sep
(dollars in thousands)		2025		2025		2025		2024		2024		2025		2024
Interest Income
Interest-bearing deposits in banks	$9,993		$10,715		$10,789		$11,260		$13,633		$31,497		$38,646
Debt securities - taxable	23,253		20,696		18,492		15,923		15,555		62,441		45,595
Debt securities - nontaxable (TE)	434		423		416		427		426		1,273		1,267
Loans held for sale	11,237		11,578		9,045		11,853		9,142		31,860		22,679
Loans (TE)	311,082		305,154		295,964		307,852		317,358		912,200		926,612
Total Earning Assets	$355,999		$348,566		$334,706		$347,315		$356,114		$1,039,271		$1,034,799
Interest Expense
Interest-Bearing Deposits
NOW accounts	$18,230		$18,144		$18,306		$19,099		$20,535		$54,680		$62,129
MMDA	54,657		53,469		52,261		57,160		61,620		160,387		173,905
Savings accounts	813		826		830		850		960		2,469		2,930
Retail CDs	21,253		21,852		23,245		25,610		26,775		66,350		77,062
Brokered CDs	11,898		12,505		10,573		12,837		19,808		34,976		53,091
Total Interest-Bearing Deposits	106,851		106,796		105,215		115,556		129,698		318,862		369,117
Non-Deposit Funding
FHLB advances	4,863		3,508		1,362		2,393		4,443		9,733		14,188
Other borrowings	2,328		2,499		2,350		3,346		3,514		7,177		10,967
Subordinated deferrable interest debentures	3,040		3,022		3,012		3,247		3,431		9,074		10,280
Total Non-Deposit Funding	10,231		9,029		6,724		8,986		11,388		25,984		35,435
Total Interest-Bearing Funding	$117,082		$115,825		$111,939		$124,542		$141,086		$344,846		$404,552
Net Interest Income (TE)	$238,917		$232,741		$222,767		$222,773		$215,028		$694,425		$630,247

AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES
Yields	Table 8
	Three Months Ended										Nine Months Ended
	Sep		Jun		Mar		Dec		Sep		Sep		Sep
		2025		2025		2025		2024		2024		2025		2024
Earning Assets
Interest-bearing deposits in banks	4.48%		4.52%		4.46%		4.98%		5.44%		4.49%		5.49%
Debt securities - taxable	4.04%		3.92%		3.75%		3.60%		3.57%		3.91%		3.66%
Debt securities - nontaxable (TE)	3.84%		4.11%		4.08%		4.09%		4.08%		4.00%		4.09%
Loans held for sale	6.31%		6.35%		6.49%		5.92%		6.32%		6.38%		6.53%
Loans (TE)	5.87%		5.85%		5.82%		5.87%		6.01%		5.85%		5.97%
Total Earning Assets	5.66%		5.64%		5.61%		5.67%		5.81%		5.64%		5.80%
Interest-Bearing Deposits
NOW accounts	1.85%		1.85%		1.86%		1.95%		2.18%		1.85%		2.18%
MMDA	3.11%		3.10%		3.07%		3.31%		3.77%		3.09%		3.72%
Savings accounts	0.43%		0.43%		0.44%		0.44%		0.50%		0.43%		0.50%
Retail CDs	3.60%		3.66%		3.87%		4.12%		4.30%		3.71%		4.24%
Brokered CDs	4.41%		4.38%		4.45%		4.83%		5.28%		4.41%		5.26%
Total Interest-Bearing Deposits	2.82%		2.83%		2.83%		3.06%		3.44%		2.82%		3.38%
Non-Deposit Funding
Federal funds purchased and securities sold under agreements to repurchase	- %		- %		- %		- %		- %		- %		- %
FHLB advances	4.35%		4.32%		3.69%		4.43%		4.93%		4.23%		5.05%
Other borrowings	5.43%		5.18%		4.93%		4.75%		4.69%		5.17%		4.81%
Subordinated deferrable interest debentures	9.03%		9.11%		9.22%		9.78%		10.38%		9.12%		10.48%
Total Non-Deposit Funding	5.44%		5.55%		5.73%		5.70%		5.75%		5.55%		5.84%
Total Interest-Bearing Liabilities	2.94%		2.94%		2.92%		3.16%		3.55%		2.93%		3.51%
Net Interest Spread	2.72%		2.70%		2.69%		2.51%		2.26%		2.71%		2.29%
Net Interest Margin	3.80%		3.77%		3.73%		3.64%		3.51%		3.77%		3.53%
Total Cost of Funds	2.05%		2.06%		2.06%		2.22%		2.50%		2.06%		2.46%
(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										Nine Months Ended
	Sep		Jun		Mar		Dec		Sep		Sep		Sep
(dollars in thousands except per share data)		2025		2025		2025		2024		2024		2025		2024
Net income available to common shareholders	$106,029		$109,834		$87,935		$94,376		$99,212		$303,798		$264,309
Adjustment items:
Gain on sale of MSR	(125)		(356)		14		(536)		(5,245)		(467)		(9,958)
Gain on conversion of Visa Class B-1 stock	-		-		-		-		-		-		(12,554)
Gain on BOLI proceeds	(390)		-		(11)		-		-		(401)		(1,464)
FDIC special assessment	(318)		(138)		138		(559)		-		(318)		2,014
Natural disaster expenses	-		-		-		400		150		-		150
Loss on disposition of bank premises	-		-		-		1,203		-		-		-
Tax effect of adjustment items (Note 1)	93		104		(32)		(107)		1,070		165		4,273
After tax adjustment items	(740)		(390)		109		401		(4,025)		(1,021)		(17,539)
Tax expense attributable to BOLI restructuring	-		-		-		301		-		-		4,792
Adjusted net income	$105,289		$109,444		$88,044		$95,078		$95,187		$302,777		$251,562
Weighted average number of shares - diluted	68,665,669		68,796,577		69,030,331		69,128,946		69,066,298		68,830,787		69,031,666
Net income per diluted share	$1.54		$1.60		$1.27		$1.37		$1.44		$4.41		$3.83
Adjusted net income per diluted share	$1.53		$1.59		$1.28		$1.38		$1.38		$4.40		$3.64
Average assets	$26,972,134		$26,757,322		$26,229,423		$26,444,894		$26,442,984		$26,655,680		$25,899,617
Return on average assets	1.56%		1.65%		1.36%		1.42%		1.49%		1.52%		1.36%
Adjusted return on average assets	1.55%		1.64%		1.36%		1.43%		1.43%		1.52%		1.30%
Average common equity	$3,964,207		$3,865,031		$3,798,149		$3,719,888		$3,618,052		$3,876,404		$3,537,559
Average tangible common equity	$2,887,961		$2,784,819		$2,713,847		$2,631,452		$2,525,421		$2,796,180		$2,440,619
Return on average common equity	10.61%		11.40%		9.39%		10.09%		10.91%		10.48%		9.98%
Return on average tangible common equity	14.57%		15.82%		13.14%		14.27%		15.63%		14.53%		14.47%
Adjusted return on average tangible common equity	14.46%		15.76%		13.16%		14.37%		14.99%		14.48%		13.77%
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										Nine Months Ended
	Sep		Jun		Mar		Dec		Sep		Sep		Sep
(dollars in thousands)		2025		2025		2025		2024		2024		2025		2024
Adjusted Noninterest Expense
Total noninterest expense	$154,566		$155,260		$151,034		$151,949		$151,777		$460,860		$455,845
Adjustment items:
FDIC special assessment	318		138		(138)		559		-		318		(2,014)
Natural disaster expenses	-		-		-		(400)		(150)		-		(150)
Loss on disposition of bank premises	-		-		-		(1,203)		-		-		-
Adjusted noninterest expense	$154,884		$155,398		$150,896		$150,905		$151,627		$461,178		$453,681
Total Revenue
Net interest income	$237,964		$231,813		$221,839		$221,821		$214,060		$691,616		$627,369
Noninterest income	76,274		68,911		64,023		68,959		69,709		209,208		224,298
Total revenue	$314,238		$300,724		$285,862		$290,780		$283,769		$900,824		$851,667
Adjusted Total Revenue
Net interest income (TE)	$238,917		$232,741		$222,767		$222,773		$215,028		$694,425		$630,247
Noninterest income	76,274		68,911		64,023		68,959		69,709		209,208		224,298
Total revenue (TE)	315,191		301,652		286,790		291,732		284,737		903,633		854,545
Adjustment items:
(Gain) loss on securities	(1,581)		-		(40)		16		8		(1,621)		(12,320)
Gain on sale of MSR	(125)		(356)		14		(536)		(5,245)		(467)		(9,958)
Gain on BOLI proceeds	(390)		-		(11)		-		-		(401)		(1,464)
Adjusted total revenue (TE)	$313,095		$301,296		$286,753		$291,212		$279,500		$901,144		$830,803
Efficiency ratio	49.19%		51.63%		52.83%		52.26%		53.49%		51.16%		53.52%
Adjusted efficiency ratio (TE)	49.47%		51.58%		52.62%		51.82%		54.25%		51.18%		54.61%
Tangible Book Value Per Share	Table 9C
	Three Months Ended										Nine Months Ended
	Sep		Jun		Mar		Dec		Sep		Sep		Sep
(dollars in thousands except per share data)		2025		2025		2025		2024		2024		2025		2024
Total shareholders' equity	$4,016,701		$3,917,678		$3,823,802		$3,751,522		$3,681,368		$4,016,701		$3,681,368
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	58,703		62,582		66,658		70,761		74,941		58,703		74,941
Total tangible shareholders' equity	$2,942,352		$2,839,450		$2,741,498		$2,665,115		$2,590,781		$2,942,352		$2,590,781
Period end number of shares	68,587,742		68,711,043		68,910,924		69,068,609		69,067,019		68,587,742		69,067,019
Book value per share (period end)	$58.56		$57.02		$55.49		$54.32		$53.30		$58.56		$53.30
Tangible book value per share (period end)	$42.90		$41.32		$39.78		$38.59		$37.51		$42.90		$37.51

AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES
Non-GAAP Reconciliations (continued)
Tangible Common Equity to Tangible Assets ("TCE Ratio")	Table 9D
	Sep		Jun		Mar		Dec		Sep
(dollars in thousands except per share data)		2025		2025		2025		2024		2024
Total shareholders' equity		$4,016,701		$3,917,678		$3,823,802		$3,751,522		$3,681,368
Less:
Goodwill		1,015,646		1,015,646		1,015,646		1,015,646		1,015,646
Other intangibles, net		58,703		62,582		66,658		70,761		74,941
Total tangible shareholders' equity		$2,942,352		$2,839,450		$2,741,498		$2,665,115		$2,590,781
Total assets		$27,099,829		$26,680,153		$26,514,940		$26,262,050		$26,399,782
Less:
Goodwill		1,015,646		1,015,646		1,015,646		1,015,646		1,015,646
Other intangibles, net		58,703		62,582		66,658		70,761		74,941
Total tangible assets		$26,025,480		$25,601,925		$25,432,636		$25,175,643		$25,309,195
Equity to Assets	14.82%		14.68%		14.42%		14.28%		13.94%
Tangible Common Equity to Tangible Assets	11.31%		11.09%		10.78%		10.59%		10.24%

AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES
Segment Reporting	Table 10
	Three Months Ended										Nine Months Ended
	Sep		Jun		Mar		Dec		Sep		Sep		Sep
(dollars in thousands)		2025		2025		2025		2024		2024		2025		2024
Retail Mortgage Division
Net interest income	$20,179		$22,031		$21,844		$23,714		$23,553		$64,054		$70,582
Provision for credit losses	529		1,010		5,191		(2,503)		254		6,730		(296)
Noninterest income	40,081		37,726		34,729		36,623		41,498		112,536		130,408
Noninterest expense
Salaries and employee benefits	21,589		24,358		20,995		22,876		23,233		66,942		69,560
Occupancy and equipment expenses	760		811		829		951		957		2,400		3,014
Data processing and telecommunications expenses	1,232		1,391		1,297		1,222		1,184		3,920		3,826
Other noninterest expenses	12,480		12,496		11,963		12,118		12,164		36,939		38,091
Total noninterest expense	36,061		39,056		35,084		37,167		37,538		110,201		114,491
Income before income tax expense	23,670		19,691		16,298		25,673		27,259		59,659		86,795
Income tax expense	4,970		4,135		3,423		5,391		5,724		12,528		18,227
Net income	$18,700		$15,556		$12,875		$20,282		$21,535		$47,131		$68,568
Warehouse Lending Division
Net interest income	$7,474		$7,091		$5,902		$6,640		$7,812		$20,467		$20,132
Provision for credit losses	23		369		(175)		(59)		(170)		217		334
Noninterest income	756		1,893		554		676		1,765		3,203		3,533
Noninterest expense
Salaries and employee benefits	566		618		552		583		621		1,736		2,633
Occupancy and equipment expenses	7		7		7		6		6		21		20
Data processing and telecommunications expenses	57		59		38		44		32		154		116
Other noninterest expenses	195		96		270		224		217		561		752
Total noninterest expense	825		780		867		857		876		2,472		3,521
Income before income tax expense	7,382		7,835		5,764		6,518		8,871		20,981		19,810
Income tax expense	1,550		1,646		1,210		1,369		1,863		4,406		4,160
Net income	$5,832		$6,189		$4,554		$5,149		$7,008		$16,575		$15,650
Premium Finance Division
Net interest income	$12,251		$11,190		$9,880		$10,390		$10,060		$33,321		$26,015
Provision for credit losses	461		716		456		517		457		1,633		366
Noninterest income	18		17		16		13		11		51		32
Noninterest expense
Salaries and employee benefits	2,492		2,331		2,352		2,029		2,212		7,175		6,165
Occupancy and equipment expenses	39		36		37		51		28		112		174
Data processing and telecommunications expenses	101		91		129		106		83		321		264
Other noninterest expenses	1,075		1,115		969		1,173		1,140		3,159		3,263
Total noninterest expense	3,707		3,573		3,487		3,359		3,463		10,767		9,866
Income before income tax expense	8,101		6,918		5,953		6,527		6,151		20,972		15,815
Income tax expense	1,669		1,410		1,214		1,334		1,254		4,293		3,191
Net income	$6,432		$5,508		$4,739		$5,193		$4,897		$16,679		$12,624

AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES
Segment Reporting (continued)	Table 10
	Three Months Ended										Nine Months Ended
	Sep		Jun		Mar		Dec		Sep		Sep		Sep
(dollars in thousands)		2025		2025		2025		2024		2024		2025		2024
Banking Division
Net interest income	$198,060		$191,501		$184,213		$181,077		$172,635		$573,774		$510,640
Provision for credit losses	21,617		677		16,420		14,853		5,566		38,714		45,581
Noninterest income	35,419		29,275		28,724		31,647		26,435		93,418		90,325
Noninterest expense
Salaries and employee benefits	66,301		62,001		62,716		62,322		62,634		191,018		181,473
Occupancy and equipment expenses	10,718		10,547		9,804		10,616		10,725		31,069		33,952
Data processing and telecommunications expenses	14,668		13,825		13,391		13,259		13,922		41,884		40,862
Other noninterest expenses	22,286		25,478		25,685		24,369		22,619		73,449		71,680
Total noninterest expense	113,973		111,851		111,596		110,566		109,900		337,420		327,967
Income before income tax expense	97,889		108,248		84,921		87,305		83,604		291,058		227,417
Income tax expense	22,824		25,667		19,154		23,553		17,832		67,645		59,950
Net income	$75,065		$82,581		$65,767		$63,752		$65,772		$223,413		$167,467
Total Consolidated
Net interest income	$237,964		$231,813		$221,839		$221,821		$214,060		$691,616		$627,369
Provision for credit losses	22,630		2,772		21,892		12,808		6,107		47,294		45,985
Noninterest income	76,274		68,911		64,023		68,959		69,709		209,208		224,298
Noninterest expense
Salaries and employee benefits	90,948		89,308		86,615		87,810		88,700		266,871		259,831
Occupancy and equipment expenses	11,524		11,401		10,677		11,624		11,716		33,602		37,160
Data processing and telecommunications expenses	16,058		15,366		14,855		14,631		15,221		46,279		45,068
Other noninterest expenses	36,036		39,185		38,887		37,884		36,140		114,108		113,786
Total noninterest expense	154,566		155,260		151,034		151,949		151,777		460,860		455,845
Income before income tax expense	137,042		142,692		112,936		126,023		125,885		392,670		349,837
Income tax expense	31,013		32,858		25,001		31,647		26,673		88,872		85,528
Net income	$106,029		$109,834		$87,935		$94,376		$99,212		$303,798		$264,309