News Release

AMERIS BANCORP ANNOUNCES SECOND QUARTER 2025 FINANCIAL RESULTS

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

•Net income of $109.8 million, or $1.60 per diluted share

•Return on average assets of 1.65%

•Return on average tangible common equity(1) of 15.82%

•Tangible book value(1) growth of $1.54 per share, or 15.5% annualized, to $41.32 at June 30, 2025

•TCE ratio(1) increased to 11.09%, compared with 9.72% one year ago

•Net interest margin (TE) expansion of 4bps to 3.77% for the second quarter of 2025

•Efficiency ratio improved to 51.63%

•Growth in total revenue of $14.9 million, or 20.9% annualized, from first quarter of 2025

•Growth in average earning assets of $564.3 million, or 9.3% annualized

•Loan growth of $334.9 million, or 6.5% annualized

•Continued growth in noninterest-bearing deposits, now representing 31.0% of total deposits

•Annualized net charge-offs improved to 0.14% of average total loans

ATLANTA, GA, July 28, 2025 - Ameris Bancorp (NYSE: ABCB) (the “Company”) today reported net income of $109.8 million, or $1.60 per diluted share, for the quarter ended June 30, 2025, compared with $90.8 million, or $1.32 per diluted share, for the quarter ended June 30, 2024.

For the year-to-date period ending June 30, 2025, the Company reported net income of $197.8 million, or $2.87 per diluted share, compared with $165.1 million, or $2.39 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 second quarter results underscore the strength, consistency, and long-term value of the Ameris franchise. We delivered above-peer profitability, with a return on assets of 1.65% and a return on tangible common equity of 15.82%. Tangible book value per share - one of our long-standing strategic priorities - grew at a 15.5% annualized rate to surpass $41. Other key performance indicators, including our net interest margin, allowance coverage ratio, and efficiency ratio, remain among the best in the industry. Backed by a strong balance sheet and a proven ability to execute, we are well positioned to capitalize on growth opportunities across our Southeast footprint and drive continued success through the remainder of 2025 and beyond.”

Net Interest Income and Net Interest Margin

Net interest income on a tax-equivalent basis (TE) grew to $232.7 million in the second quarter of 2025, an increase of $10.0 million, or 4.5%, from last quarter and an increase of $19.9 million, or 9.3%, compared with the second quarter of 2024. The Company's average earning assets increased during the quarter by $564.3 million, or 9.3% annualized, due to a $308.0 million increase in average portfolio loans outstanding, a $165.2 million increase in average loans held for sale during the quarter and a $119.3 million increase in the average balance of investment securities.

The Company's net interest margin expanded to 3.77% for the second quarter of 2025, a four basis point increase from 3.73% reported for the first quarter of 2025 and a 19 basis point improvement from the 3.58% reported for the second quarter of 2024.

Yields on earning assets increased three basis points during the quarter to 5.64%, compared with 5.61% in the first quarter of 2025. This increase is primarily related to a 17 basis point increase in yield on taxable securities and a three basis point increase in yield on portfolio loans during the second quarter of 2025.

The Company’s total cost of funds was stable at 2.06% in the second quarter of 2025, when compared with the first quarter of 2025, and improved 42 basis points compared with the second quarter of 2024. Deposit costs decreased three basis points during the second quarter of 2025 to 1.95%, compared with 1.98% in the first quarter of 2025. Costs of interest-bearing deposits during the quarter were 2.83%, unchanged from the first quarter of 2025.

Noninterest Income

Noninterest income increased $4.9 million, or 7.6%, in the second quarter of 2025 to $68.9 million, compared with $64.0 million for the first quarter of 2025. The increase was primarily driven by mortgage banking activity, which increased $4.0 million, or 11.3%, to $39.2 million in the second quarter of 2025, compared with $35.3 million for the first quarter of 2025. Total production in the retail mortgage division increased $334.9 million, or 35.9%, to $1.27 billion in the second quarter of 2025, compared with $933.0 million for the first quarter of 2025. The retail mortgage open pipeline was $719.1 million at the end of the second quarter of 2025, compared with $771.6 million for the first quarter of 2025. Gain on sale spreads increased to 2.22% in the second quarter of 2025 from 2.17% for the first quarter of 2025. Other noninterest income increased $678,000, or 8.7%, in the second quarter of 2025 to $8.5 million, compared with $7.8 million for the first quarter of 2025.

Noninterest Expense

Noninterest expense increased $4.3 million, or 2.8%, to $155.3 million during the second quarter of 2025, compared with $151.0 million for the first quarter of 2025. Salaries and employee benefits increased $2.7 million, or 3.1%, during the second quarter of 2025 primarily due to variable compensation related to mortgage production and annual merit increases, partially offset by seasonal declines in payroll taxes. Advertising and marketing expenses increased $862,000 resulting from targeted ad campaigns during the quarter. Management continues to focus on operating efficiency, and the efficiency ratio improved to 51.63% in the second quarter of 2025, compared with 52.83% in the first quarter of 2025 and 51.68% in the second quarter of 2024.

Income Tax Expense

The Company's effective tax rate for the second quarter of 2025 was 23.0%, compared with 22.1% for the first quarter of 2025. The increased rate resulted primarily from a reduction in excess benefits from the vesting of equity compensation awards and the impact of enacted state tax changes during the second quarter.

Balance Sheet Trends

Total assets at June 30, 2025 were $26.68 billion, compared with $26.51 billion at March 31, 2025 and $26.26 billion at December 31, 2024. During the second quarter of 2025, loans, net of unearned income, increased by $334.9 million, or 6.5% annualized, to end at $21.04 billion at June 30, 2025, compared with $20.71 billion at March 31, 2025 and $20.74 billion at December 31, 2024. Loans held for sale increased to $544.1 million at June 30, 2025 from $528.6 million at December 31, 2024. Debt securities available-for-sale amounted to $1.87 billion, compared with $1.94 billion at March 31, 2025 and $1.67 billion at December 31, 2024.

At June 30, 2025, total deposits amounted to $21.93 billion, compared with $21.72 billion at December 31, 2024. During the second quarter of 2025, deposits grew $20.3 million, with noninterest-bearing accounts increasing $55.7 million, brokered CDs increasing $81.8 million and interest-bearing demand accounts increasing $13.0 million, with such increases offset by decreases in retail CDs of $77.4 million, money market accounts of $38.6 million and savings accounts of $14.2 million. Noninterest-bearing accounts as a percentage of total deposits increased, such that at June 30, 2025, noninterest-bearing deposit accounts represented $6.80 billion, or 31.0% of total deposits, compared with $6.50 billion, or 29.9% of total deposits, at December 31, 2024.

Shareholders’ equity at June 30, 2025 totaled $3.92 billion, an increase of $166.2 million, or 4.4%, from December 31, 2024. The increase in shareholders’ equity was primarily the result of earnings of $197.8 million during the first six months of 2025 and an improvement in other comprehensive loss of $23.2 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(1) increased $2.73 per share, or 14.3% annualized, during the first six months of 2025 to $41.32 at June 30, 2025. Tangible common equity as a percentage of tangible assets was 11.09% at June 30, 2025, compared with 10.59% at the end of 2024. The Company repurchased 212,472 shares in the quarter ending June 30, 2025.

Subordinated Debt

In July 2025, the Company notified holders of its 5.875% Fixed-To-Floating Rate Subordinated Notes due 2030 that it would be redeeming the notes in full at the September 1, 2025 interest payment date. These notes, which currently total $74 million outstanding, bear interest at 8.22% and will be redeemed at par.

Credit Quality

During the second quarter of 2025, the Company recorded a provision for credit losses of $2.8 million, compared with a provision of $21.9 million in the first quarter of 2025. The allowance for credit losses on loans was 1.62% of loans at June 30, 2025, compared with 1.63% at the end of 2024. Nonperforming assets as a percentage of total assets decreased eight basis points to 0.36% during the quarter. Approximately $11.7 million, or 12.1%, of the nonperforming assets at June 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 decreased six basis points to 0.32% at June 30, 2025, compared with 0.38% at the end of the first quarter of 2025. The net charge-off ratio was 14 basis points for the second quarter of 2025, compared with 18 basis points in the first quarter of 2025.

Conference Call

The Company will host a teleconference at 9:00 a.m. Eastern time on Tuesday, July 29, 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 August 5, 2025. To listen to the replay, dial 1-877-344-7529. The conference replay access code is 6141708. 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 $26.7 billion in assets as of June 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.

(1) 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.

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															Six Months Ended
	Jun			Mar			Dec			Sep			Jun			Jun			Jun
(dollars in thousands except per share data)	2025			2025			2024			2024			2024			2025			2024
EARNINGS
Net income	$	109,834		$	87,935		$	94,376		$	99,212		$	90,785		$	197,769		$	165,097
Adjusted net income(1)	$	109,444		$	88,044		$	95,078		$	95,187		$	80,763		$	197,488		$	156,375

COMMON SHARE DATA
Earnings per share available to common shareholders
Basic	$	1.60		$	1.28		$	1.37		$	1.44		$	1.32		$	2.88		$	2.40
Diluted	$	1.60		$	1.27		$	1.37		$	1.44		$	1.32		$	2.87		$	2.39
Adjusted diluted EPS(1)	$	1.59		$	1.28		$	1.38		$	1.38		$	1.17		$	2.87		$	2.27
Cash dividends per share	$	0.20		$	0.20		$	0.15		$	0.15		$	0.15		$	0.40		$	0.30
Book value per share (period end)	$	57.02		$	55.49		$	54.32		$	53.30		$	51.64		$	57.02		$	51.64
Tangible book value per share (period end)(1)	$	41.32		$	39.78		$	38.59		$	37.51		$	35.79		$	41.32		$	35.79
Weighted average number of shares
Basic	68,594,608			68,785,458			68,799,464			68,798,093			68,824,150			68,689,506			68,818,618
Diluted	68,796,577			69,030,331			69,128,946			69,066,298			69,013,834			68,912,750			69,010,010
Period end number of shares	68,711,043			68,910,924			69,068,609			69,067,019			69,066,573			68,711,043			69,066,573
Market data
High intraday price	$	65.43		$	68.85		$	74.56		$	65.40		$	51.18		$	68.85		$	53.99
Low intraday price	$	48.27		$	55.32		$	59.12		$	48.21		$	44.23		$	48.27		$	44.00
Period end closing price	$	64.70		$	57.57		$	62.57		$	62.39		$	50.35		$	64.70		$	50.35
Average daily volume	416,355			430,737			384,406			379,896			301,784			423,428			353,985

PERFORMANCE RATIOS
Return on average assets	1.65		%	1.36		%	1.42		%	1.49		%	1.41		%	1.51		%	1.30		%
Adjusted return on average assets(1)	1.64		%	1.36		%	1.43		%	1.43		%	1.25		%	1.50		%	1.23		%
Return on average common equity	11.40		%	9.39		%	10.09		%	10.91		%	10.34		%	10.41		%	9.49		%
Adjusted return on average tangible common equity(1)	15.76		%	13.16		%	14.37		%	14.99		%	13.35		%	14.48		%	13.12		%
Earning asset yield (TE)	5.64		%	5.61		%	5.67		%	5.81		%	5.86		%	5.63		%	5.79		%
Total cost of funds	2.06		%	2.06		%	2.22		%	2.50		%	2.48		%	2.06		%	2.44		%
Net interest margin (TE)	3.77		%	3.73		%	3.64		%	3.51		%	3.58		%	3.75		%	3.54		%

Efficiency ratio	51.63		%	52.83		%	52.26		%	53.49		%	51.68		%	52.22		%	53.54		%
Adjusted efficiency ratio (TE)(1)	51.58		%	52.62		%	51.82		%	54.25		%	55.00		%	52.09		%	54.79		%

CAPITAL ADEQUACY (period end)
Shareholders' equity to assets	14.68		%	14.42		%	14.28		%	13.94		%	13.45		%	14.68		%	13.45		%
Tangible common equity to tangible assets(1)	11.09		%	10.78		%	10.59		%	10.24		%	9.72		%	11.09		%	9.72		%

OTHER DATA (period end)
Full time equivalent employees
Banking Division	2,036			2,045			2,021			2,056			2,073			2,036			2,073
Retail Mortgage Division	550			577			585			592			595			550			595
Warehouse Lending Division	8			7			8			9			9			8			9

Premium Finance Division	78			81			77			76			74			78			74
Total Ameris Bancorp FTE headcount	2,672			2,710			2,691			2,733			2,751			2,672			2,751


Branch locations	164			164			164			164			164			164			164
Deposits per branch location	$	133,736		$	133,612		$	132,454		$	133,410		$	130,757		$	133,736		$	130,757
(1)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										Six Months Ended
	Jun		Mar		Dec		Sep		Jun		Jun		Jun
(dollars in thousands except per share data)	2025		2025		2024		2024		2024		2025		2024
Interest income
Interest and fees on loans	$	315,893	$	304,168	$	318,843	$	325,622	$	317,664	$	620,061	$	621,057
Interest on taxable securities	20,696		18,492		15,923		15,555		16,948		39,188		30,040
Interest on nontaxable securities	334		329		337		336		335		663		665
Interest on deposits in other banks	10,715		10,789		11,260		13,633		12,376		21,504		25,013

Total interest income	347,638		333,778		346,363		355,146		347,323		681,416		676,775

Interest expense
Interest on deposits	106,796		105,215		115,556		129,698		121,245		212,011		239,419
Interest on other borrowings	9,029		6,724		8,986		11,388		14,157		15,753		24,047
Total interest expense	115,825		111,939		124,542		141,086		135,402		227,764		263,466

Net interest income	231,813		221,839		221,821		214,060		211,921		453,652		413,309

Provision for loan losses	3,110		16,519		12,657		6,313		25,348		19,629		50,871
Provision for unfunded commitments	(335)		5,373		148		(204)		(6,570)		5,038		(10,992)
Provision for other credit losses	(3)		—		3		(2)		(5)		(3)		(1)
Provision for credit losses	2,772		21,892		12,808		6,107		18,773		24,664		39,878
Net interest income after provision for credit losses	229,041		199,947		209,013		207,953		193,148		428,988		373,431

Noninterest income
Service charges on deposit accounts	13,493		13,133		13,544		12,918		12,672		26,626		24,431
Mortgage banking activity	39,221		35,254		36,699		37,947		46,399		74,475		85,829
Other service charges, commissions and fees	1,158		1,109		1,182		1,163		1,211		2,267		2,413
Gain (loss) on securities	—		40		(16)		(8)		12,335		40		12,328
Equipment finance activity	6,572		6,698		5,947		5,398		4,983		13,270		10,319
Other noninterest income	8,467		7,789		11,603		12,291		11,111		16,256		19,269
Total noninterest income	68,911		64,023		68,959		69,709		88,711		132,934		154,589

Noninterest expense
Salaries and employee benefits	89,308		86,615		87,810		88,700		88,201		175,923		171,131
Occupancy and equipment	11,401		10,677		11,624		11,716		12,559		22,078		25,444
Data processing and communications expenses	15,366		14,855		14,631		15,221		15,193		30,221		29,847
Credit resolution-related expenses(1)	657		765		1,271		(110)		840		1,422		1,326
Advertising and marketing	3,745		2,883		2,730		3,959		3,456		6,628		5,923
Amortization of intangible assets	4,076		4,103		4,180		4,180		4,407		8,179		8,829

Other noninterest expenses	30,707		31,136		29,703		28,111		30,701		61,843		61,568
Total noninterest expense	155,260		151,034		151,949		151,777		155,357		306,294		304,068

Income before income tax expense	142,692		112,936		126,023		125,885		126,502		255,628		223,952
Income tax expense	32,858		25,001		31,647		26,673		35,717		57,859		58,855
Net income	$	109,834	$	87,935	$	94,376	$	99,212	$	90,785	$	197,769	$	165,097

Diluted earnings per common share	$	1.60	$	1.27	$	1.37	$	1.44	$	1.32	$	2.87	$	2.39

(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
	Jun		Mar		Dec		Sep		Jun
(dollars in thousands)	2025		2025		2024		2024		2024
Assets
Cash and due from banks	$	249,676	$	253,289	$	244,980	$	231,515	$	257,297
Interest-bearing deposits in banks	920,594		1,039,111		975,397		1,127,641		1,104,897


Debt securities available-for-sale, at fair value	1,871,298		1,943,011		1,671,260		1,441,552		1,531,047
Debt securities held-to-maturity, at amortized cost	176,487		173,757		164,677		161,220		148,538
Other investments	69,910		65,630		66,298		63,899		96,613
Loans held for sale	544,091		545,388		528,599		553,379		570,180

Loans, net of unearned income	21,041,497		20,706,644		20,739,906		20,964,981		20,992,603
Allowance for credit losses	(341,567)		(345,555)		(338,084)		(334,457)		(336,218)
Loans, net	20,699,930		20,361,089		20,401,822		20,630,524		20,656,385

Other real estate owned	1,825		863		2,433		9,482		2,213
Premises and equipment, net	211,434		207,895		209,460		210,931		213,255
Goodwill	1,015,646		1,015,646		1,015,646		1,015,646		1,015,646
Other intangible assets, net	62,582		66,658		70,761		74,941		79,120
Cash value of bank owned life insurance	414,381		410,890		408,574		460,699		376,458

Other assets	442,299		431,713		502,143		418,353		469,079
Total assets	$	26,680,153	$	26,514,940	$	26,262,050	$	26,399,782	$	26,520,728

Liabilities
Deposits
Noninterest-bearing	$	6,800,519	$	6,744,781	$	6,498,293	$	6,670,320	$	6,649,220
Interest-bearing	15,132,156		15,167,628		15,224,155		15,208,945		14,794,923
Total deposits	21,932,675		21,912,409		21,722,448		21,879,265		21,444,143

Other borrowings	376,700		276,744		291,788		346,446		946,413
Subordinated deferrable interest debentures	133,306		132,807		132,309		131,811		131,312

Other liabilities	319,794		369,178		363,983		360,892		432,246
Total liabilities	22,762,475		22,691,138		22,510,528		22,718,414		22,954,114

Shareholders' Equity
Preferred stock	—		—		—		—		—
Common stock	72,897		72,885		72,699		72,698		72,697
Capital stock	1,964,896		1,961,732		1,958,642		1,954,532		1,950,846
Retained earnings	2,023,493		1,927,489		1,853,428		1,772,989		1,684,218
Accumulated other comprehensive loss, net of tax	(6,886)		(14,430)		(30,119)		(15,724)		(38,020)
Treasury stock	(136,722)		(123,874)		(103,128)		(103,127)		(103,127)
Total shareholders' equity	3,917,678		3,823,802		3,751,522		3,681,368		3,566,614
Total liabilities and shareholders' equity	$	26,680,153	$	26,514,940	$	26,262,050	$	26,399,782	$	26,520,728

Other Data
Earning assets	$	24,623,877	$	24,473,541	$	24,146,137	$	24,312,672	$	24,443,878
Intangible assets	1,078,228		1,082,304		1,086,407		1,090,587		1,094,766
Interest-bearing liabilities	15,642,162		15,577,179		15,648,252		15,687,202		15,872,648
Average assets	26,757,322		26,229,423		26,444,894		26,442,984		25,954,808
Average common shareholders' equity	3,865,031		3,798,149		3,719,888		3,618,052		3,530,869


AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Asset Quality Information	Table 4
	Three Months Ended															Six Months Ended
	Jun			Mar			Dec			Sep			Jun			Jun			Jun
(dollars in thousands)	2025			2025			2024			2024			2024			2025			2024
Allowance for Credit Losses
Balance at beginning of period	$	381,507		$	368,663		$	364,885		$	366,852		$	357,232		$	368,663		$	348,727







Provision for loan losses	3,110			16,519			12,657			6,313			25,348			19,629			50,871
Provision for unfunded commitments	(335)			5,373			148			(204)			(6,570)			5,038			(10,992)
Provision for other credit losses	(3)			—			3			(2)			(5)			(3)			(1)
Provision for credit losses	2,772			21,892			12,808			6,107			18,773			24,664			39,878

Charge-offs	14,227			15,383			17,460			15,352			16,845			29,610			35,302
Recoveries	7,129			6,335			8,430			7,278			7,692			13,464			13,549
Net charge-offs (recoveries)	7,098			9,048			9,030			8,074			9,153			16,146			21,753

Ending balance	$	377,181		$	381,507		$	368,663		$	364,885		$	366,852		$	377,181		$	366,852

Allowance for loan losses	$	341,567		$	345,555		$	338,084		$	334,457		$	336,218		$	341,567		$	336,218
Allowance for unfunded commitments	35,548			35,883			30,510			30,362			30,566			35,548			30,566
Allowance for other credit losses	66			69			69			66			68			66			68
Total allowance for credit losses	$	377,181		$	381,507		$	368,663		$	364,885		$	366,852		$	377,181		$	366,852


























Non-Performing Assets
Nonaccrual portfolio loans	$	75,286		$	86,229		$	90,206		$	87,339		$	85,878		$	75,286		$	85,878
Other real estate owned	1,825			863			2,433			9,482			2,213			1,825			2,213
Repossessed assets	2			—			9			19			22			2			22
Accruing loans delinquent 90 days or more	8,415			14,930			17,733			12,234			15,909			8,415			15,909
Non-performing portfolio assets	$	85,528		$	102,022		$	110,381		$	109,074		$	104,022		$	85,528		$	104,022
Serviced GNMA-guaranteed mortgage nonaccrual loans	11,733			13,441			12,012			8,168			93,520			11,733			93,520
Total non-performing assets	$	97,261		$	115,463		$	122,393		$	117,242		$	197,542		$	97,261		$	197,542

Asset Quality Ratios
Non-performing portfolio assets as a percent of total assets	0.32		%	0.38		%	0.42		%	0.41		%	0.39		%	0.32		%	0.39		%
Total non-performing assets as a percent of total assets	0.36		%	0.44		%	0.47		%	0.44		%	0.74		%	0.36		%	0.74		%
Net charge-offs as a percent of average loans (annualized)	0.14		%	0.18		%	0.17		%	0.15		%	0.18		%	0.16		%	0.21		%


AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Loan Information	Table 5
	Jun		Mar		Dec		Sep		Jun
(dollars in thousands)	2025		2025		2024		2024		2024
Loans by Type
Commercial and industrial	$	3,184,211	$	3,075,971	$	2,953,135	$	2,949,957	$	2,860,973
Consumer	209,990		213,902		221,735		221,201		234,122

Mortgage warehouse	1,092,475		891,412		965,053		985,910		1,070,921
Municipal	436,759		429,227		441,408		449,561		454,967
Premium Finance	1,294,293		1,176,309		1,155,614		1,246,452		1,151,261
Real estate - construction and development	1,485,842		1,842,431		1,998,506		2,232,114		2,336,987
Real estate - commercial and farmland	8,877,750		8,574,626		8,445,958		8,249,981		8,103,634
Real estate - residential	4,460,177		4,502,766		4,558,497		4,629,805		4,779,738
Total loans	$	21,041,497	$	20,706,644	$	20,739,906	$	20,964,981	$	20,992,603


























Loans by Risk Grade
Pass	$	20,820,888	$	20,468,496	$	20,457,340	$	20,676,342	$	20,623,416
Other assets especially mentioned	66,677		73,783		110,936		124,479		115,477
Substandard	153,932		164,365		171,630		164,160		253,710


Total loans	$	21,041,497	$	20,706,644	$	20,739,906	$	20,964,981	$	20,992,603


AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Average Balances	Table 6
	Three Months Ended										Six Months Ended
	Jun		Mar		Dec		Sep		Jun		Jun		Jun
(dollars in thousands)	2025		2025		2024		2024		2024		2025		2024
Earning Assets

Interest-bearing deposits in banks	$	951,851	$	980,164	$	899,162	$	997,308	$	899,866	$	965,930	$	911,855

Debt securities - taxable	2,117,596		1,998,226		1,761,984		1,733,418		1,663,841		2,058,241		1,631,773
Debt securities - nontaxable	41,299		41,391		41,494		41,496		41,396		41,344		41,341
Loans held for sale	730,770		565,531		795,904		575,461		491,000		648,607		407,175
Loans	20,928,825		20,620,777		20,868,216		21,023,629		20,820,361		20,775,652		20,570,520
Total Earning Assets	$	24,770,341	$	24,206,089	$	24,366,760	$	24,371,312	$	23,916,464	$	24,489,774	$	23,562,664

Deposits
Noninterest-bearing deposits	$	6,766,557	$	6,522,784	$	6,684,851	$	6,622,952	$	6,558,427	$	6,645,340	$	6,480,864
NOW accounts	3,939,802		3,988,458		3,888,404		3,753,528		3,824,538		3,963,995		3,827,257
MMDA	6,918,382		6,911,554		6,864,265		6,508,770		6,251,719		6,914,988		6,102,054
Savings accounts	766,331		767,148		761,980		765,909		781,588		766,738		788,738
Retail CDs	2,393,402		2,436,974		2,474,804		2,478,875		2,430,416		2,415,067		2,404,547
Brokered CDs	1,145,043		962,768		1,057,808		1,493,352		1,167,174		1,054,409		1,274,278
Total Deposits	21,929,517		21,589,686		21,732,112		21,623,386		21,013,862		21,760,537		20,877,738
Non-Deposit Funding
Federal funds purchased and securities sold under agreements to repurchase	—		—		—		—		1		—		—
FHLB advances	326,054		149,537		215,116		358,332		548,251		238,283		383,920
Other borrowings	193,492		193,494		279,961		298,073		307,449		193,493		307,829
Subordinated deferrable interest debentures	133,043		132,544		132,048		131,547		131,050		132,795		130,801
Total Non-Deposit Funding	652,589		475,575		627,125		787,952		986,751		564,571		822,550
Total Funding	$	22,582,106	$	22,065,261	$	22,359,237	$	22,411,338	$	22,000,613	$	22,325,108	$	21,700,288


AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Interest Income and Interest Expense (TE)	Table 7
	Three Months Ended										Six Months Ended
	Jun		Mar		Dec		Sep		Jun		Jun		Jun
(dollars in thousands)	2025		2025		2024		2024		2024		2025		2024
Interest Income

Interest-bearing deposits in banks	$	10,715	$	10,789	$	11,260	$	13,633	$	12,376	$	21,504	$	25,013

Debt securities - taxable	20,696		18,492		15,923		15,555		16,948		39,188		30,040
Debt securities - nontaxable (TE)	423		416		427		426		423		839		841
Loans held for sale	11,578		9,045		11,853		9,142		8,189		20,623		13,537
Loans (TE)	305,154		295,964		307,852		317,358		310,347		601,118		609,254
Total Earning Assets	$	348,566	$	334,706	$	347,315	$	356,114	$	348,283	$	683,272	$	678,685



Interest Expense
Interest-Bearing Deposits
NOW accounts	$	18,144	$	18,306	$	19,099	$	20,535	$	21,020	$	36,450	$	41,594
MMDA	53,469		52,261		57,160		61,620		58,332		105,730		112,285
Savings accounts	826		830		850		960		984		1,656		1,970
Retail CDs	21,852		23,245		25,610		26,775		25,711		45,097		50,287
Brokered CDs	12,505		10,573		12,837		19,808		15,198		23,078		33,283
Total Interest-Bearing Deposits	106,796		105,215		115,556		129,698		121,245		212,011		239,419
Non-Deposit Funding

FHLB advances	3,508		1,362		2,393		4,443		7,167		4,870		9,745
Other borrowings	2,499		2,350		3,346		3,514		3,574		4,849		7,453
Subordinated deferrable interest debentures	3,022		3,012		3,247		3,431		3,416		6,034		6,849
Total Non-Deposit Funding	9,029		6,724		8,986		11,388		14,157		15,753		24,047
Total Interest-Bearing Funding	$	115,825	$	111,939	$	124,542	$	141,086	$	135,402	$	227,764	$	263,466

Net Interest Income (TE)	$	232,741	$	222,767	$	222,773	$	215,028	$	212,881	$	455,508	$	415,219


AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Yields(1)	Table 8
	Three Months Ended										Six Months Ended
	Jun		Mar		Dec		Sep		Jun		Jun		Jun
	2025		2025		2024		2024		2024		2025		2024
Earning Assets

Interest-bearing deposits in banks	4.52	%	4.46	%	4.98	%	5.44	%	5.53	%	4.49	%	5.52	%

Debt securities - taxable	3.92	%	3.75	%	3.60	%	3.57	%	4.10	%	3.84	%	3.70	%
Debt securities - nontaxable (TE)	4.11	%	4.08	%	4.09	%	4.08	%	4.11	%	4.09	%	4.09	%
Loans held for sale	6.35	%	6.49	%	5.92	%	6.32	%	6.71	%	6.41	%	6.69	%
Loans (TE)	5.85	%	5.82	%	5.87	%	6.01	%	6.00	%	5.83	%	5.96	%
Total Earning Assets	5.64	%	5.61	%	5.67	%	5.81	%	5.86	%	5.63	%	5.79	%

Interest-Bearing Deposits
NOW accounts	1.85	%	1.86	%	1.95	%	2.18	%	2.21	%	1.85	%	2.19	%
MMDA	3.10	%	3.07	%	3.31	%	3.77	%	3.75	%	3.08	%	3.70	%
Savings accounts	0.43	%	0.44	%	0.44	%	0.50	%	0.51	%	0.44	%	0.50	%
Retail CDs	3.66	%	3.87	%	4.12	%	4.30	%	4.25	%	3.77	%	4.21	%
Brokered CDs	4.38	%	4.45	%	4.83	%	5.28	%	5.24	%	4.41	%	5.25	%
Total Interest-Bearing Deposits	2.83	%	2.83	%	3.06	%	3.44	%	3.37	%	2.83	%	3.34	%
Non-Deposit Funding
Federal funds purchased and securities sold under agreements to repurchase	—	%	—	%	—	%	—	%	—	%	—	%	—	%
FHLB advances	4.32	%	3.69	%	4.43	%	4.93	%	5.26	%	4.12	%	5.10	%
Other borrowings	5.18	%	4.93	%	4.75	%	4.69	%	4.68	%	5.05	%	4.87	%
Subordinated deferrable interest debentures	9.11	%	9.22	%	9.78	%	10.38	%	10.48	%	9.16	%	10.53	%
Total Non-Deposit Funding	5.55	%	5.73	%	5.70	%	5.75	%	5.77	%	5.63	%	5.88	%
Total Interest-Bearing Liabilities	2.94	%	2.92	%	3.16	%	3.55	%	3.53	%	2.93	%	3.48	%

Net Interest Spread	2.70	%	2.69	%	2.51	%	2.26	%	2.33	%	2.70	%	2.31	%

Net Interest Margin(2)	3.77	%	3.73	%	3.64	%	3.51	%	3.58	%	3.75	%	3.54	%

Total Cost of Funds(3)	2.06	%	2.06	%	2.22	%	2.50	%	2.48	%	2.06	%	2.44	%
(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															Six Months Ended
	Jun			Mar			Dec			Sep			Jun			Jun			Jun
(dollars in thousands except per share data)	2025			2025			2024			2024			2024			2025			2024
Net income available to common shareholders	$	109,834		$	87,935		$	94,376		$	99,212		$	90,785		$	197,769		$	165,097

Adjustment items:

Gain on sale of MSR	(356)			14			(536)			(5,245)			(4,713)			(342)			(4,713)
Gain on conversion of Visa Class B-1 stock	—			—			—			—			(12,554)			—			(12,554)


Gain on BOLI proceeds	—			(11)			—			—			(466)			(11)			(1,464)
FDIC special assessment	(138)			138			(559)			—			(895)			—			2,014
Natural disaster expenses	—			—			400			150			—			—			—
Loss on disposition of bank premises	—			—			1,203			—			—			—			—
Tax effect of adjustment items (Note 1)	104			(32)			(107)			1,070			3,814			72			3,203
After tax adjustment items	(390)			109			401			(4,025)			(14,814)			(281)			(13,514)
Tax expense attributable to BOLI restructuring	—			—			301			—			4,792			—			4,792
Adjusted net income	$	109,444		$	88,044		$	95,078		$	95,187		$	80,763		$	197,488		$	156,375

Weighted average number of shares - diluted	68,796,577			69,030,331			69,128,946			69,066,298			69,013,834			68,912,750			69,010,010
Net income per diluted share	$	1.60		$	1.27		$	1.37		$	1.44		$	1.32		$	2.87		$	2.39
Adjusted net income per diluted share	$	1.59		$	1.28		$	1.38		$	1.38		$	1.17		$	2.87		$	2.27

Average assets	$	26,757,322		$	26,229,423		$	26,444,894		$	26,442,984		$	25,954,808		$	26,494,831		$	25,624,948
Return on average assets	1.65		%	1.36		%	1.42		%	1.49		%	1.41		%	1.51		%	1.30		%
Adjusted return on average assets	1.64		%	1.36		%	1.43		%	1.43		%	1.25		%	1.50		%	1.23		%

Average common equity	$	3,865,031		$	3,798,149		$	3,719,888		$	3,618,052		$	3,530,869		$	3,831,775		$	3,496,870
Average tangible common equity	$	2,784,819		$	2,713,847		$	2,631,452		$	2,525,421		$	2,433,958		$	2,749,529		$	2,397,751
Return on average common equity	11.40		%	9.39		%	10.09		%	10.91		%	10.34		%	10.41		%	9.49		%
Return on average tangible common equity	15.82		%	13.14		%	14.27		%	15.63		%	15.00		%	14.50		%	13.85		%
Adjusted return on average tangible common equity	15.76		%	13.16		%	14.37		%	14.99		%	13.35		%	14.48		%	13.12		%

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															Six Months Ended
	Jun			Mar			Dec			Sep			Jun			Jun			Jun
(dollars in thousands)	2025			2025			2024			2024			2024			2025			2024
Adjusted Noninterest Expense
Total noninterest expense	$	155,260		$	151,034		$	151,949		$	151,777		$	155,357		$	306,294		$	304,068
Adjustment items:


FDIC special assessment	138			(138)			559			—			895			—			(2,014)
Natural disaster expenses	—			—			(400)			(150)			—			—			—
Loss on disposition of bank premises	—			—			(1,203)			—			—			—			—
Adjusted noninterest expense	$	155,398		$	150,896		$	150,905		$	151,627		$	156,252		$	306,294		$	302,054

Total Revenue
Net interest income	$	231,813		$	221,839		$	221,821		$	214,060		$	211,921		$	453,652		$	413,309
Noninterest income	68,911			64,023			68,959			69,709			88,711			132,934			154,589
Total revenue	$	300,724		$	285,862		$	290,780		$	283,769		$	300,632		$	586,586		$	567,898

Adjusted Total Revenue
Net interest income (TE)	$	232,741		$	222,767		$	222,773		$	215,028		$	212,881		$	455,508		$	415,219
Noninterest income	68,911			64,023			68,959			69,709			88,711			132,934			154,589
Total revenue (TE)	301,652			286,790			291,732			284,737			301,592			588,442			569,808
Adjustment items:
(Gain) loss on securities	—			(40)			16			8			(12,335)			(40)			(12,328)
Gain on sale of MSR	(356)			14			(536)			(5,245)			(4,713)			(342)			(4,713)
Gain on BOLI proceeds	—			(11)			—			—			(466)			(11)			(1,464)

Adjusted total revenue (TE)	$	301,296		$	286,753		$	291,212		$	279,500		$	284,078		$	588,049		$	551,303

Efficiency ratio	51.63		%	52.83		%	52.26		%	53.49		%	51.68		%	52.22		%	53.54		%
Adjusted efficiency ratio (TE)	51.58		%	52.62		%	51.82		%	54.25		%	55.00		%	52.09		%	54.79		%

Tangible Book Value Per Share	Table 9C
	Three Months Ended															Six Months Ended
	Jun			Mar			Dec			Sep			Jun			Jun			Jun
(dollars in thousands except per share data)	2025			2025			2024			2024			2024			2025			2024
Total shareholders' equity	$	3,917,678		$	3,823,802		$	3,751,522		$	3,681,368		$	3,566,614		$	3,917,678		$	3,566,614
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	62,582			66,658			70,761			74,941			79,120			62,582			79,120
Total tangible shareholders' equity	$	2,839,450		$	2,741,498		$	2,665,115		$	2,590,781		$	2,471,848		$	2,839,450		$	2,471,848

Period end number of shares	68,711,043			68,910,924			69,068,609			69,067,019			69,066,573			68,711,043			69,066,573
Book value per share (period end)	$	57.02		$	55.49		$	54.32		$	53.30		$	51.64		$	57.02		$	51.64
Tangible book value per share (period end)	$	41.32		$	39.78		$	38.59		$	37.51		$	35.79		$	41.32		$	35.79


AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Non-GAAP Reconciliations (continued)

Tangible Common Equity to Tangible Assets	Table 9D

	Jun			Mar			Dec			Sep			Jun
(dollars in thousands except per share data)	2025			2025			2024			2024			2024
Total shareholders' equity	$	3,917,678		$	3,823,802		$	3,751,522		$	3,681,368		$	3,566,614
Less:
Goodwill	1,015,646			1,015,646			1,015,646			1,015,646			1,015,646
Other intangibles, net	62,582			66,658			70,761			74,941			79,120
Total tangible shareholders' equity	$	2,839,450		$	2,741,498		$	2,665,115		$	2,590,781		$	2,471,848

Total assets	$	26,680,153		$	26,514,940		$	26,262,050		$	26,399,782		$	26,520,728
Less:
Goodwill	1,015,646			1,015,646			1,015,646			1,015,646			1,015,646
Other intangibles, net	62,582			66,658			70,761			74,941			79,120
Total tangible assets	$	25,601,925		$	25,432,636		$	25,175,643		$	25,309,195		$	25,425,962

Equity to Assets	14.68		%	14.42		%	14.28		%	13.94		%	13.45		%
Tangible Common Equity to Tangible Assets	11.09		%	10.78		%	10.59		%	10.24		%	9.72		%


AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Segment Reporting	Table 10
	Three Months Ended										Six Months Ended
	Jun		Mar		Dec		Sep		Jun		Jun		Jun
(dollars in thousands)	2025		2025		2024		2024		2024		2025		2024
Retail Mortgage Division
Net interest income	$	22,031	$	21,844	$	23,714	$	23,553	$	23,742	$	43,875	$	47,029
Provision for credit losses	1,010		5,191		(2,503)		254		(2,882)		6,201		(550)
Noninterest income	37,726		34,729		36,623		41,498		50,145		72,455		88,910
Noninterest expense
Salaries and employee benefits	24,358		20,995		22,876		23,233		25,254		45,353		46,327
Occupancy and equipment expenses	811		829		951		957		1,008		1,640		2,057
Data processing and telecommunications expenses	1,391		1,297		1,222		1,184		1,276		2,688		2,642
Other noninterest expenses	12,496		11,963		12,118		12,164		13,397		24,459		25,927
Total noninterest expense	39,056		35,084		37,167		37,538		40,935		74,140		76,953
Income before income tax expense	19,691		16,298		25,673		27,259		35,834		35,989		59,536
Income tax expense	4,135		3,423		5,391		5,724		7,525		7,558		12,503
Net income	$	15,556	$	12,875	$	20,282	$	21,535	$	28,309	$	28,431	$	47,033

Warehouse Lending Division
Net interest income	$	7,091	$	5,902	$	6,640	$	7,812	$	6,292	$	12,993	$	12,320
Provision for credit losses	369		(175)		(59)		(170)		359		194		504
Noninterest income	1,893		554		676		1,765		1,028		2,447		1,768
Noninterest expense
Salaries and employee benefits	618		552		583		621		1,124		1,170		2,012
Occupancy and equipment expenses	7		7		6		6		7		14		14
Data processing and telecommunications expenses	59		38		44		32		59		97		84
Other noninterest expenses	96		270		224		217		298		366		535
Total noninterest expense	780		867		857		876		1,488		1,647		2,645
Income before income tax expense	7,835		5,764		6,518		8,871		5,473		13,599		10,939
Income tax expense	1,646		1,210		1,369		1,863		1,149		2,856		2,297
Net income	$	6,189	$	4,554	$	5,149	$	7,008	$	4,324	$	10,743	$	8,642

Premium Finance Division
Net interest income	$	11,190	$	9,880	$	10,390	$	10,060	$	8,350	$	21,070	$	15,955
Provision for credit losses	716		456		517		457		408		1,172		(91)
Noninterest income	17		16		13		11		11		33		21
Noninterest expense
Salaries and employee benefits	2,331		2,352		2,029		2,212		1,900		4,683		3,953
Occupancy and equipment expenses	36		37		51		28		70		73		146
Data processing and telecommunications expenses	91		129		106		83		102		220		181
Other noninterest expenses	1,115		969		1,173		1,140		1,095		2,084		2,123
Total noninterest expense	3,573		3,487		3,359		3,463		3,167		7,060		6,403
Income before income tax expense	6,918		5,953		6,527		6,151		4,786		12,871		9,664
Income tax expense	1,410		1,214		1,334		1,254		953		2,624		1,937
Net income	$	5,508	$	4,739	$	5,193	$	4,897	$	3,833	$	10,247	$	7,727


AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Segment Reporting (continued)	Table 10
	Three Months Ended										Six Months Ended
	Jun		Mar		Dec		Sep		Jun		Jun		Jun
(dollars in thousands)	2025		2025		2024		2024		2024		2025		2024
Banking Division
Net interest income	$	191,501	$	184,213	$	181,077	$	172,635	$	173,537	$	375,714	$	338,005
Provision for credit losses	677		16,420		14,853		5,566		20,888		17,097		40,015
Noninterest income	29,275		28,724		31,647		26,435		37,527		57,999		63,890
Noninterest expense
Salaries and employee benefits	62,001		62,716		62,322		62,634		59,923		124,717		118,839
Occupancy and equipment expenses	10,547		9,804		10,616		10,725		11,474		20,351		23,227
Data processing and telecommunications expenses	13,825		13,391		13,259		13,922		13,756		27,216		26,940
Other noninterest expenses	25,478		25,685		24,369		22,619		24,614		51,163		49,061
Total noninterest expense	111,851		111,596		110,566		109,900		109,767		223,447		218,067
Income before income tax expense	108,248		84,921		87,305		83,604		80,409		193,169		143,813
Income tax expense	25,667		19,154		23,553		17,832		26,090		44,821		42,118
Net income	$	82,581	$	65,767	$	63,752	$	65,772	$	54,319	$	148,348	$	101,695





























Total Consolidated
Net interest income	$	231,813	$	221,839	$	221,821	$	214,060	$	211,921	$	453,652	$	413,309
Provision for credit losses	2,772		21,892		12,808		6,107		18,773		24,664		39,878
Noninterest income	68,911		64,023		68,959		69,709		88,711		132,934		154,589
Noninterest expense
Salaries and employee benefits	89,308		86,615		87,810		88,700		88,201		175,923		171,131
Occupancy and equipment expenses	11,401		10,677		11,624		11,716		12,559		22,078		25,444
Data processing and telecommunications expenses	15,366		14,855		14,631		15,221		15,193		30,221		29,847
Other noninterest expenses	39,185		38,887		37,884		36,140		39,404		78,072		77,646
Total noninterest expense	155,260		151,034		151,949		151,777		155,357		306,294		304,068
Income before income tax expense	142,692		112,936		126,023		125,885		126,502		255,628		223,952
Income tax expense	32,858		25,001		31,647		26,673		35,717		57,859		58,855
Net income	$	109,834	$	87,935	$	94,376	$	99,212	$	90,785	$	197,769	$	165,097

Ameris Bancorp 8-K