10-Q
Quarterly Report
AMERIS BANCORP
ABCB
NYSE
CIK: 351569
File #: 001-13901
Balance Sheet
169 line items · 2 periods
XBRL
| Item | Sep 30, 2025 | Dec 31, 2024 |
|---|---|---|
Assets | ||
Cash and due from banks | 216,927,000 | 244,980,000 |
Carrying Amount | 216,927,000 | 244,980,000 |
Level 1 - Fair Value | 216,927,000 | 244,980,000 |
Level 2 - Fair Value | 0 | 0 |
Level 3 - Fair Value | 0 | 0 |
Fair Value | 216,927,000 | 244,980,000 |
Interest-bearing deposits in banks | 826,237,000 | 975,397,000 |
Carrying Amount | 826,237,000 | 975,397,000 |
Level 1 - Fair Value | 826,237,000 | 975,397,000 |
Level 2 - Fair Value | 0 | 0 |
Level 3 - Fair Value | 0 | 0 |
Fair Value | 826,237,000 | 975,397,000 |
Cash and cash equivalents | 1,043,164,000 | 1,220,377,000 |
Debt securities available-for-sale, at fair value, net of allowance for credit losses of $74 and $69 | 2,131,671,000 | 1,671,260,000 |
U.S. Treasuries | 684,890,000 | 796,464,000 |
State, county and municipal securities | 21,461,000 | 24,740,000 |
Corporate debt securities | 10,411,000 | 10,283,000 |
SBA pool securities | 12,912,000 | 70,482,000 |
Mortgage-backed securities | 1,401,997,000 | 768,297,000 |
U.S. government-sponsored agencies | — | 994,000 |
Debt securities held-to-maturity, at amortized cost, net of allowance for credit losses of $0 and $0 (fair value of $187,612 and $144,028) | 202,581,000 | 164,677,000 |
State, county and municipal securities | 33,483,000 | 33,623,000 |
Mortgage-backed securities | 169,098,000 | 131,054,000 |
Other investments | 70,644,000 | 66,298,000 |
Loans held for sale, at fair value | 604,136,000 | 528,599,000 |
Loans, net of unearned income | 21,258,374,000 | 20,739,906,000 |
Commercial and industrial | 3,299,269,000 | 2,953,135,000 |
Consumer | 202,688,000 | 221,735,000 |
Mortgage warehouse | 1,083,941,000 | 965,053,000 |
Municipal | 437,823,000 | 441,408,000 |
Premium finance | 1,358,259,000 | 1,155,614,000 |
Real estate – construction and development | 1,411,178,000 | 1,998,506,000 |
Real estate – commercial and farmland | 9,054,927,000 | 8,445,958,000 |
Real estate – residential | 4,410,289,000 | 4,558,497,000 |
Commercial and industrial - Loans 30-59 Days Past Due | 7,687,000 | 12,300,000 |
Commercial and industrial - Loans 60-89 Days Past Due | 5,410,000 | 5,908,000 |
Commercial and industrial - Loans 90 or More Days Past Due | 9,567,000 | 12,849,000 |
Commercial and industrial - Total Loans Past Due | 22,664,000 | 31,057,000 |
Commercial and industrial - Current Loans | 3,276,605,000 | 2,922,078,000 |
Consumer - Loans 30-59 Days Past Due | 619,000 | 2,672,000 |
Consumer - Loans 60-89 Days Past Due | 546,000 | 557,000 |
Consumer - Loans 90 or More Days Past Due | 167,000 | 319,000 |
Consumer - Total Loans Past Due | 1,332,000 | 3,548,000 |
Consumer - Current Loans | 201,356,000 | 218,187,000 |
Mortgage warehouse - Loans 30-59 Days Past Due | 0 | 0 |
Mortgage warehouse - Loans 60-89 Days Past Due | 0 | 0 |
Mortgage warehouse - Loans 90 or More Days Past Due | 0 | 0 |
Mortgage warehouse - Total Loans Past Due | 0 | 0 |
Mortgage warehouse - Current Loans | 1,083,941,000 | 965,053,000 |
Municipal - Loans 30-59 Days Past Due | 0 | 0 |
Municipal - Loans 60-89 Days Past Due | 0 | 0 |
Municipal - Loans 90 or More Days Past Due | 0 | 0 |
Municipal - Total Loans Past Due | 0 | 0 |
Municipal - Current Loans | 437,823,000 | 441,408,000 |
Premium finance - Loans 30-59 Days Past Due | 15,247,000 | 15,068,000 |
Premium finance - Loans 60-89 Days Past Due | 7,516,000 | 6,315,000 |
Premium finance - Loans 90 or More Days Past Due | 9,325,000 | 12,485,000 |
Premium finance - Total Loans Past Due | 32,088,000 | 33,868,000 |
Premium finance - Current Loans | 1,326,171,000 | 1,121,746,000 |
Real estate – construction and development - Loans 30-59 Days Past Due | 275,000 | 23,102,000 |
Real estate – construction and development - Loans 60-89 Days Past Due | 41,000 | 461,000 |
Real estate – construction and development - Loans 90 or More Days Past Due | 906,000 | 3,786,000 |
Real estate – construction and development - Total Loans Past Due | 1,222,000 | 27,349,000 |
Real estate – construction and development - Current Loans | 1,409,956,000 | 1,971,157,000 |
Real estate – commercial and farmland - Loans 30-59 Days Past Due | 4,307,000 | 6,787,000 |
Real estate – commercial and farmland - Loans 60-89 Days Past Due | 4,462,000 | 2,435,000 |
Real estate – commercial and farmland - Loans 90 or More Days Past Due | 5,424,000 | 5,980,000 |
Real estate – commercial and farmland - Total Loans Past Due | 14,193,000 | 15,202,000 |
Real estate – commercial and farmland - Current Loans | 9,040,734,000 | 8,430,756,000 |
Real estate – residential - Loans 30-59 Days Past Due | 39,501,000 | 47,020,000 |
Real estate – residential - Loans 60-89 Days Past Due | 22,643,000 | 15,864,000 |
Real estate – residential - Loans 90 or More Days Past Due | 71,928,000 | 71,070,000 |
Real estate – residential - Total Loans Past Due | 134,072,000 | 133,954,000 |
Real estate – residential - Current Loans | 4,276,217,000 | 4,424,543,000 |
Loans 30-59 Days Past Due | 67,636,000 | 106,949,000 |
Loans 60-89 Days Past Due | 40,618,000 | 31,540,000 |
Loans 90 or More Days Past Due | 97,317,000 | 106,489,000 |
Total Loans Past Due | 205,571,000 | 244,978,000 |
Current Loans | 21,052,803,000 | 20,494,928,000 |
9 | 0 | 0 |
Commercial and industrial - Pass | 3,275,152,000 | 2,914,868,000 |
Commercial and industrial - Special mention | 4,617,000 | 11,225,000 |
Commercial and industrial - Substandard | 19,500,000 | 27,042,000 |
Consumer - Pass | 201,294,000 | 220,253,000 |
Consumer - Special mention | 59,000 | 92,000 |
Consumer - Substandard | 1,335,000 | 1,390,000 |
Mortgage warehouse - Pass | 1,083,941,000 | 965,053,000 |
Municipal - Pass | 437,823,000 | 441,408,000 |
Premium finance - Pass | 1,348,934,000 | 1,143,129,000 |
Premium finance - Substandard | 9,325,000 | 12,485,000 |
Real estate – construction and development - Pass | 1,407,522,000 | 1,993,947,000 |
Real estate – construction and development - Special mention | 2,558,000 | 500,000 |
Real estate – construction and development - Substandard | 1,098,000 | 4,059,000 |
Real estate – commercial and farmland - Pass | 8,979,950,000 | 8,304,349,000 |
Real estate – commercial and farmland - Special mention | 28,004,000 | 96,336,000 |
Real estate – commercial and farmland - Substandard | 46,973,000 | 45,273,000 |
Real estate – residential - Pass | 4,323,842,000 | 4,474,333,000 |
Real estate – residential - Special mention | 1,998,000 | 2,783,000 |
Real estate – residential - Substandard | 84,449,000 | 81,381,000 |
Pass | 21,058,458,000 | 20,457,340,000 |
Special mention | 37,236,000 | 110,936,000 |
Substandard | 162,680,000 | 171,630,000 |
Allowance for credit losses | 345,294,000 | 338,084,000 |
Commercial and industrial | 89,349,000 | 87,242,000 |
Consumer | 5,460,000 | 7,327,000 |
Mortgage warehouse | 2,208,000 | 2,262,000 |
Municipal | 58,000 | 58,000 |
Premium finance | 860,000 | 736,000 |
Real estate – construction and development | 50,258,000 | 60,421,000 |
Real estate – commercial and farmland | 129,218,000 | 118,377,000 |
Real estate – residential | 67,883,000 | 61,661,000 |
Loans, net | 20,913,080,000 | 20,401,822,000 |
Other real estate owned, net | 3,137,000 | 2,433,000 |
Level 3 - Fair Value, Measurements, Nonrecurring | 1,325,000 | 1,010,000 |
Premises and equipment, net | 211,567,000 | 209,460,000 |
Goodwill | 1,015,646,000 | 1,015,646,000 |
Banking Division | 951,148,000 | — |
Retail Mortgage Division | 0 | — |
Warehouse Lending Division | 0 | — |
Premium Finance Division | 64,498,000 | — |
Other intangible assets, net | 58,703,000 | 70,761,000 |
Banking Division | 57,773,000 | — |
Retail Mortgage Division | 0 | — |
Warehouse Lending Division | 0 | — |
Premium Finance Division | 930,000 | — |
Cash value of bank owned life insurance | 417,096,000 | 408,574,000 |
Other assets | 428,404,000 | 502,143,000 |
Total assets | 27,099,829,000 | 26,262,050,000 |
Banking Division | 19,510,473,000 | — |
Retail Mortgage Division | 4,693,083,000 | — |
Warehouse Lending Division | 1,105,821,000 | — |
Premium Finance Division | 1,790,452,000 | — |
Liabilities | ||
Deposits: | ||
Noninterest-bearing | 6,757,233,000 | 6,498,293,000 |
Interest-bearing | 15,470,845,000 | 15,224,155,000 |
Total deposits | 22,228,078,000 | 21,722,448,000 |
Other borrowings | 337,094,000 | 291,788,000 |
Advance from correspondent bank due June 1, 2026; secured by a loan receivable; variable interest rate at one-month SOFR plus 2.65% | 9,931,000 | 10,000,000 |
Carrying Amount | 337,094,000 | 291,788,000 |
Level 1 - Fair Value | 0 | 0 |
Level 2 - Fair Value | 335,978,000 | 291,213,000 |
Level 3 - Fair Value | 0 | 0 |
Fair Value | 335,978,000 | 291,213,000 |
Subordinated deferrable interest debentures | 133,804,000 | 132,309,000 |
Subordinated notes payable due May 31, 2030 net of unaccreted purchase accounting fair value adjustment of $0 and $653, respectively; fixed interest rate of 5.875% through May 31, 2025; variable interest rate thereafter at three-month SOFR plus 3.63% | 0 | 74,653,000 |
Subordinated notes payable due October 1, 2030 net of unamortized debt issuance cost of $1,009 and $1,161, respectively; fixed interest rate of 3.875% through September 30, 2025; variable interest rate thereafter at three-month SOFR plus 3.753% | 108,991,000 | 108,839,000 |
Carrying Amount | 133,804,000 | 132,309,000 |
Level 1 - Fair Value | 0 | 0 |
Level 2 - Fair Value | 142,010,000 | 142,202,000 |
Level 3 - Fair Value | 0 | 0 |
Fair Value | 142,010,000 | 142,202,000 |
Other liabilities | 384,152,000 | 363,983,000 |
Total liabilities | 23,083,128,000 | 22,510,528,000 |
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; 72,899,970 and 72,699,245 shares issued, respectively | 72,900,000 | 72,699,000 |
Capital surplus | 1,968,124,000 | 1,958,642,000 |
Retained earnings | 2,115,712,000 | 1,853,428,000 |
Accumulated other comprehensive income (loss), net of tax | 5,171,000 | (30,119,000) |
Treasury stock, at cost, 4,312,228 and 3,630,636 shares, respectively | 145,206,000 | 103,128,000 |
Total shareholders’ equity | 4,016,701,000 | 3,751,522,000 |
Common Stock | 72,900,000 | 72,699,000 |
Capital Surplus | 1,968,124,000 | 1,958,642,000 |
Retained Earnings | 2,115,712,000 | 1,853,428,000 |
Accumulated Other Comprehensive Income (Loss) | 5,171,000 | (30,119,000) |
Treasury Stock | (145,206,000) | (103,128,000) |
Total liabilities and shareholders’ equity | 27,099,829,000 | 26,262,050,000 |