3rd Quarter 2021 Results Investor Presentation

Cautionary Statements

This presentation contains forward-looking statements, as defined by federal securities laws, including, among other forward- looking statements, certain plans, expectations and goals. Words such as "may," "believe," "expect," "anticipate," "intend," "will," "should," "plan," "estimate," "predict," "continue" and "potential" or the negative of these terms or other comparable terminology, as well as similar expressions, are meant to identify forward-looking statements. The forward-looking statements in this presentation are based on current expectations and are provided to assist in the understanding of potential future performance. Such forward- looking statements involve numerous assumptions, risks and uncertainties that may cause actual results to differ materially from those expressed or implied in any such statements, including, without limitation, the following: general competitive, economic, unemployment, political and market conditions and fluctuations, including real estate market conditions, and the effects of such conditions and fluctuations on the creditworthiness of borrowers, collateral values, asset recovery values and the value of investment securities; movements in interest rates and their impacts on net interest margin; expectations on credit quality and performance; legislative and regulatory changes; changes in U.S. government monetary and fiscal policy; the impact of the COVID-19 pandemic on the general economy, our customers and the allowance for loan losses; the benefits that may be realized by our customers from government assistance programs and regulatory actions related to the COVID-19 pandemic; the potential impact of the phase-out of the London Interbank Offered Rate ("LIBOR") or other changes involving LIBOR; competitive pressures on product pricing and services; the cost savings and any revenue synergies expected to result from acquisition transactions, which may not be fully realized within the expected timeframes if at all; the success and timing of other business strategies; our outlook and long-term goals for future growth; and natural disasters, geopolitical events, acts of war or terrorism or other hostilities, public health crises and other catastrophic events beyond our control. For a discussion of some of the other risks and other factors that may cause such forward-looking statements to differ materially from actual results, please refer to the Company's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2020 and its 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.

1

Ameris Profile

Operating Strength

  • Historically top quartile return on assets (>1.50% ROA for last three years)
  • Focus on expense control and improved operating efficiency
  • Strong liquidity and continued funding opportunities
  • Culture of disciplined banking

Diversification

  • Geographic diversification
  • Diversified loan portfolio across product lines
  • CRE concentrations are moderate
  • Conservative credit culture with low levels of NPAs

Summary

  • Experienced executive team with an average of 27 years banking experience in our market area
  • Largest publicly traded bank headquartered in Atlanta, Georgia
  • Premier Southeastern markets with attractive core deposit base
  • Skills and leadership to continue to grow organically
  • Capital levels to support opportunistic transactions

2

3rd Quarter 2021 Financial Results

Earnings Summary

(dollars in thousands, except per share

Quarter to Date Results

Year To Date Results

data)

Net Income

3Q21

3Q20

Change

2021

2020

Change

$

81,680

$

116,145

-30%

$

294,969

$

167,703

76%

Net Income Per Diluted Share

$

1.17

$

1.67

-30%

$

4.23

$

2.42

75%

Return on Assets

1.47%

2.33%

-37%

1.84%

1.18%

56%

Return on Equity

11.27%

18.27%

-38%

14.14%

8.96%

58%

Efficiency Ratio

57.59%

47.80%

20%

54.61%

55.34%

-1%

Net Interest Margin

3.22%

3.64%

-12%

3.37%

3.72%

-9%

Provision for Credit Losses

$

(9,675)

$

17,682

-155%

$

(38,124)

$

146,890

-126%

Adjusted Net Income

$

83,861

$

116,879

-28%

$

287,155

$

198,507

45%

Adjusted Net Income Per Share

$

1.20

$

1.69

-29%

$

4.12

$

2.86

44%

Adjusted Return on Assets

1.51%

2.35%

-36%

1.79%

1.39%

28%

Adjusted Return on TCE

17.65%

30.53%

-42%

21.38%

17.84%

20%

Adjusted Efficiency Ratio

56.56%

47.34%

19%

55.05%

52.00%

6%

4 1 - Considered Non-GAAP measures - See reconciliation of GAAP to Non-GAAP measures in Appendix

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Disclaimer

Ameris Bancorp published this content on 28 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 October 2021 10:19:19 UTC.