Document

Commenting on the Company’s results, Palmer Proctor, the Company’s Chief Executive Officer, said, “First quarter was a strong start to the year with our performance metrics continuing to outpace the broader industry. Our ROA expanded to 1.62%, our return on average tangible common equity grew to 14.75% and our margin expanded 3 basis points to 3.88% for the first quarter. The continued focus on expenses across the Company resulted in an efficiency ratio just under 50% despite some seasonal headwinds. Growth was robust with annualized revenue growth in the high single digits and annualized loan and deposit growth in the mid-single digits. We were more active in our share repurchase program, buying back almost $75 million of our common stock in the quarter or approximately 1.4% of our outstanding equity. Overall, another solid quarter from Ameris with our focus remaining on profitably growing our franchise across our attractive Southeast markets.”

Net interest income on a tax-equivalent basis (TE) was $245.4 million in the first quarter of 2026, a decrease of $903,000, or 0.4%, from last quarter and an increase of $22.6 million, or 10.2%, compared with the first quarter of 2025. The Company's average earning assets increased during the quarter by $265.2 million, or 4.2% annualized, primarily due to an increase of $311.9 million in average portfolio loans outstanding and an increase of $99.7 million in the average balance of investment securities, partially offset by a decrease in average loans held for sale of $142.1 million.

Noninterest income increased $8.1 million, or 13.1%, in the first quarter of 2026 to $69.9 million, compared with $61.8 million for the fourth quarter of 2025. Mortgage banking activity increased $5.1 million, or 16.1%, to $37.0 million in the first quarter of 2026, compared with $31.9 million for the fourth quarter of 2025. Total production in the retail mortgage division seasonally decreased $128.4 million, or 10.6%, to $1.09 billion in the first quarter of 2026, compared with $1.22 billion for the fourth quarter of 2025. The retail mortgage open pipeline was $632.7 million at the end of the first quarter of 2026, compared with $701.9 million for the fourth quarter of 2025. Gain on sale spreads decreased to 2.08% in the first quarter of 2026 from 2.20% for the fourth quarter of 2025. Other noninterest income increased $2.8 million, or 44.4%, in the first quarter of 2026 to $9.1 million, compared with $6.3 million for the fourth quarter of 2025. This increase is primarily due to a $1.1 million loss on the sale of mortgage servicing rights and a $910,000 servicing right impairment in the fourth quarter of 2025, both of which did not recur in the current quarter, and an $837,000 increase in gain on sale of SBA loans in the first quarter of 2026 compared with the fourth quarter of 2025.

Noninterest expense increased $14.0 million, or 9.8%, to $157.1 million during the first quarter of 2026, compared with $143.1 million for the fourth quarter of 2025. The increase was primarily driven by cyclical increases in payroll tax and 401(k) expenses totaling $4.9 million, an increase in incentives of $4.3 million, an increase in advertising and marketing expenses of $1.3 million, an increase of $1.1 million in FDIC assessment expense and an increase in donations of $1.0 million. Management continues to deliver high performing operating efficiency, with an efficiency ratio of 49.97% in the first quarter of 2026, compared with 46.59% in the fourth quarter of 2025 and 52.83% in the first quarter of 2025.

Total assets at March 31, 2026 were $28.11 billion, compared with $27.52 billion at December 31, 2025. During the first quarter of 2026, loans, net of unearned income, increased by $314.5 million, or 5.9% annualized, compared with $21.51 billion at December 31, 2025. Unfunded commitments increased $298.7 million during the first quarter of 2026, due to strong production in construction and warehouse lending during the quarter. Loans held for sale decreased to $496.6 million at March 31, 2026 from $623.2 million at December 31, 2025. Debt securities available-for-sale amounted to $2.35 billion, compared with $2.21 billion at December 31, 2025.

At March 31, 2026, total deposits amounted to $22.64 billion, compared with $22.38 billion at December 31, 2025. During the first quarter of 2026, deposits grew $260.7 million, with noninterest-bearing accounts increasing $322.8 million, interest-bearing demand accounts increasing $168.1 million, brokered CDs increasing $143.9 million and savings accounts increasing $9.0 million. Such increases were offset by decreases in money market accounts of $330.5 million and retail CDs of $52.7 million. Noninterest-bearing accounts as a percentage of total deposits increased, such that at March 31, 2026, noninterest-bearing deposit accounts represented $6.75 billion, or 29.8% of total deposits, compared with $6.43 billion, or 28.7% of total deposits, at December 31, 2025.

Shareholders’ equity at March 31, 2026 totaled $4.08 billion, an increase of $6.1 million, or 0.1%, from December 31, 2025. The increase in shareholders’ equity was primarily the result of earnings of $110.5 million during the first quarter of 2026, largely offset by dividends declared, share repurchases and a decrease in accumulated other comprehensive income of $9.8 million resulting from changes in interest rates on the Company's investment portfolio. Tangible book value per share(1) increased $0.61 per share, or 5.6% annualized, during the first quarter of

During the first quarter of 2026, the Company recorded a provision for credit losses of $16.6 million, compared with a provision of $23.0 million in the fourth quarter of 2025. The allowance for credit losses on loans was 1.62% of loans at March 31, 2026, unchanged from the end of 2025. Nonperforming assets as a percentage of total assets increased one basis point to 0.45% during the quarter. Approximately $34.5 million, or 27.0%, of the nonperforming assets at March 31, 2026 were GNMA-guaranteed mortgage loans, which present minimal loss exposure for the Company. Excluding these government-guaranteed loans, nonperforming assets as a percentage of total assets decreased two basis points to 0.33% at March 31, 2026, compared with 0.35% at the end of the fourth quarter of 2025. The net charge-off ratio was 21 basis points for the first quarter of 2026, compared with 26 basis points for the fourth quarter of 2025.

The Company will host a teleconference at 9:00 a.m. Eastern time on Friday, April 24, 2026, 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 May 1, 2026. To listen to the replay, dial 1-855-669-9658. The conference replay access code is 4888731. 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.

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 management's opinions only as of the date hereof 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, 2025 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 except as required by law.


AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Financial Highlights	Table 1
	Three Months Ended
	Mar			Dec			Sep			Jun			Mar
(dollars in thousands except per share data)	2026			2025			2025			2025			2025
EARNINGS
Net income	$	110,492		$	108,356		$	106,029		$	109,834		$	87,935
Adjusted net income(1)	$	110,492		$	108,838		$	104,040		$	109,444		$	88,012

COMMON SHARE DATA
Earnings per share available to common shareholders
Basic	$	1.64		$	1.59		$	1.55		$	1.60		$	1.28
Diluted	$	1.63		$	1.59		$	1.54		$	1.60		$	1.27
Adjusted diluted EPS(1)	$	1.63		$	1.59		$	1.52		$	1.59		$	1.27
Cash dividends per share	$	0.20		$	0.20		$	0.20		$	0.20		$	0.20
Book value per share (period end)	$	60.64		$	59.92		$	58.56		$	57.02		$	55.49
Tangible book value per share (period end)(1)	$	44.79		$	44.18		$	42.90		$	41.32		$	39.78
Weighted average number of shares
Basic	67,540,444			68,022,346			68,401,737			68,594,608			68,785,458
Diluted	67,766,997			68,328,365			68,665,669			68,796,577			69,030,331
Period end number of shares	67,320,298			68,022,316			68,587,742			68,711,043			68,910,924
Market data
High intraday price	$	87.98		$	78.99		$	76.58		$	65.43		$	68.85
Low intraday price	$	73.20		$	68.80		$	64.30		$	48.27		$	55.32
Period end closing price	$	77.99		$	74.27		$	73.31		$	64.70		$	57.57
Average daily volume	558,814			448,341			435,766			416,355			430,737

PERFORMANCE RATIOS
Return on average assets	1.62		%	1.57		%	1.56		%	1.65		%	1.36		%
Adjusted return on average assets(1)	1.62		%	1.58		%	1.53		%	1.64		%	1.36		%
Return on average common equity	10.91		%	10.63		%	10.61		%	11.40		%	9.39		%
Adjusted return on average tangible common equity(1)	14.75		%	14.53		%	14.29		%	15.76		%	13.15		%
Earning asset yield (TE)	5.57		%	5.61		%	5.66		%	5.64		%	5.61		%
Total cost of funds	1.88		%	1.95		%	2.05		%	2.06		%	2.06		%
Net interest margin (TE)	3.88		%	3.85		%	3.80		%	3.77		%	3.73		%

Efficiency ratio	49.97		%	46.59		%	49.19		%	51.63		%	52.83		%
Adjusted efficiency ratio(1)	49.97		%	46.68		%	49.62		%	51.74		%	52.79		%

CAPITAL ADEQUACY (period end)
Shareholders' equity to assets	14.52		%	14.81		%	14.82		%	14.68		%	14.42		%
Tangible common equity to tangible assets(1)	11.15		%	11.37		%	11.31		%	11.09		%	10.78		%

OTHER DATA (period end)
Full time equivalent employees
Banking Division	2,023			2,043			2,068			2,036			2,045
Retail Mortgage Division	528			538			546			550			577
Warehouse Lending Division	7			7			8			8			7

Premium Finance Division	84			85			78			78			81
Total Ameris Bancorp FTE headcount	2,642			2,673			2,700			2,672			2,710


Branch locations	163			163			164			164			164
Deposits per branch location	$	138,876		$	137,276		$	135,537		$	133,736		$	133,612
(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
	Mar		Dec		Sep		Jun		Mar
(dollars in thousands except per share data)	2026		2025		2025		2025		2025
Interest income
Interest and fees on loans	$	317,883	$	323,833	$	321,457	$	315,893	$	304,168
Interest on taxable securities	25,474		24,886		23,253		20,696		18,492
Interest on nontaxable securities	374		422		343		334		329
Interest on deposits in other banks	8,040		8,922		9,993		10,715		10,789

Total interest income	351,771		358,063		355,046		347,638		333,778

Interest expense
Interest on deposits	96,227		105,314		106,851		106,796		105,215
Interest on other borrowings	11,108		7,442		10,231		9,029		6,724
Total interest expense	107,335		112,756		117,082		115,825		111,939

Net interest income	244,436		245,307		237,964		231,813		221,839

Provision for loan losses	17,895		16,601		11,176		3,110		16,519
Provision for unfunded commitments	(1,338)		6,348		11,446		(335)		5,373
Provision for other credit losses	(6)		1		8		(3)		—
Provision for credit losses	16,551		22,950		22,630		2,772		21,892
Net interest income after provision for credit losses	227,885		222,357		215,334		229,041		199,947

Noninterest income
Service charges on deposit accounts	13,679		14,088		13,931		13,493		13,133
Mortgage banking activity	37,008		31,874		40,666		39,221		35,254
Other service charges, commissions and fees	1,027		1,102		1,124		1,158		1,109
Gain on securities	—		12		1,581		—		40
Equipment finance activity	9,086		8,434		8,858		6,572		6,698
Other noninterest income	9,120		6,317		10,114		8,467		7,789
Total noninterest income	69,920		61,827		76,274		68,911		64,023

Noninterest expense
Salaries and employee benefits	91,366		81,997		90,948		89,308		86,615
Occupancy and equipment	11,625		11,321		11,524		11,401		10,677
Data processing and communications expenses	16,793		16,236		16,058		15,366		14,855
Credit resolution-related expenses(1)	509		953		770		657		765
Advertising and marketing	3,296		1,984		3,377		3,745		2,883
Amortization of intangible assets	3,393		3,879		3,879		4,076		4,103
Loan servicing expenses	7,380		7,267		8,142		7,897		7,823
Other noninterest expenses	22,718		19,453		19,868		22,810		23,313
Total noninterest expense	157,080		143,090		154,566		155,260		151,034

Income before income tax expense	140,725		141,094		137,042		142,692		112,936
Income tax expense	30,233		32,738		31,013		32,858		25,001
Net income	$	110,492	$	108,356	$	106,029	$	109,834	$	87,935

Diluted earnings per common share	$	1.63	$	1.59	$	1.54	$	1.60	$	1.27

(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
	Mar		Dec		Sep		Jun		Mar
(dollars in thousands)	2026		2025		2025		2025		2025
Assets
Cash and due from banks	$	235,114	$	253,807	$	216,927	$	249,676	$	253,289
Interest-bearing deposits in banks	1,094,185		835,113		826,237		920,594		1,039,111


Debt securities available-for-sale, at fair value	2,353,396		2,207,173		2,131,671		1,871,298		1,943,011
Debt securities held-to-maturity, at amortized cost	202,550		203,242		202,581		176,487		173,757
Other investments	100,718		85,443		70,644		69,910		65,630
Loans held for sale	496,629		623,152		604,136		544,091		545,388

Loans, net of unearned income	21,827,980		21,513,522		21,258,374		21,041,497		20,706,644
Allowance for credit losses	(354,682)		(348,141)		(345,294)		(341,567)		(345,555)
Loans, net	21,473,298		21,165,381		20,913,080		20,699,930		20,361,089

Other real estate owned	3,091		2,918		3,137		1,825		863
Premises and equipment, net	216,397		213,097		211,567		211,434		207,895
Goodwill	1,015,646		1,015,646		1,015,646		1,015,646		1,015,646
Other intangible assets, net	51,430		54,824		58,703		62,582		66,658
Cash value of bank owned life insurance	424,164		420,583		417,096		414,381		410,890

Other assets	443,317		435,500		428,404		442,299		431,713
Total assets	$	28,109,935	$	27,515,879	$	27,099,829	$	26,680,153	$	26,514,940

Liabilities
Deposits
Noninterest-bearing	$	6,748,976	$	6,426,145	$	6,757,233	$	6,800,519	$	6,744,781
Interest-bearing	15,887,764		15,949,850		15,470,845		15,132,156		15,167,628
Total deposits	22,636,740		22,375,995		22,228,078		21,932,675		21,912,409

Other borrowings	887,974		558,039		337,094		376,700		276,744
Subordinated deferrable interest debentures	134,801		134,302		133,804		133,306		132,807

Other liabilities	368,293		371,515		384,152		319,794		369,178
Total liabilities	24,027,808		23,439,851		23,083,128		22,762,475		22,691,138

Shareholders' Equity
Preferred stock	—		—		—		—		—
Common stock	73,252		72,898		72,900		72,897		72,885
Capital stock	1,973,881		1,971,131		1,968,124		1,964,896		1,961,732
Retained earnings	2,307,358		2,210,385		2,115,712		2,023,493		1,927,489
Accumulated other comprehensive income (loss), net of tax	(1,476)		8,312		5,171		(6,886)		(14,430)
Treasury stock	(270,888)		(186,698)		(145,206)		(136,722)		(123,874)
Total shareholders' equity	4,082,127		4,076,028		4,016,701		3,917,678		3,823,802
Total liabilities and shareholders' equity	$	28,109,935	$	27,515,879	$	27,099,829	$	26,680,153	$	26,514,940

Other Data
Earning assets	$	26,075,458	$	25,467,645	$	25,093,643	$	24,623,877	$	24,473,541
Intangible assets	1,067,076		1,070,470		1,074,349		1,078,228		1,082,304
Interest-bearing liabilities	16,910,539		16,642,191		15,941,743		15,642,162		15,577,179
Average assets	27,672,313		27,394,953		26,972,134		26,757,322		26,229,423
Average common shareholders' equity	4,107,670		4,044,338		3,964,207		3,865,031		3,798,149


AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Asset Quality Information	Table 4
	Three Months Ended
	Mar			Dec			Sep			Jun			Mar
(dollars in thousands)	2026			2025			2025			2025			2025
Allowance for Credit Losses
Balance at beginning of period	$	401,558		$	392,362		$	377,181		$	381,507		$	368,663







Provision for loan losses	17,895			16,601			11,176			3,110			16,519
Provision for unfunded commitments	(1,338)			6,348			11,446			(335)			5,373
Provision for other credit losses	(6)			1			8			(3)			—
Provision for credit losses	16,551			22,950			22,630			2,772			21,892

Charge-offs	17,527			19,575			13,631			14,227			15,383
Recoveries	6,173			5,821			6,182			7,129			6,335
Net charge-offs (recoveries)	11,354			13,754			7,449			7,098			9,048

Ending balance	$	406,755		$	401,558		$	392,362		$	377,181		$	381,507

Allowance for loan losses	$	354,682		$	348,141		$	345,294		$	341,567		$	345,555
Allowance for unfunded commitments	52,004			53,342			46,994			35,548			35,883
Allowance for other credit losses	69			75			74			66			69
Total allowance for credit losses	$	406,755		$	401,558		$	392,362		$	377,181		$	381,507


























Non-Performing Assets
Nonaccrual portfolio loans	$	81,969		$	84,711		$	77,257		$	75,286		$	86,229
Other real estate owned	3,091			2,918			3,137			1,825			863
Repossessed assets	4			4			3			2			—
Accruing loans delinquent 90 days or more	8,230			8,492			9,325			8,415			14,930
Non-performing portfolio assets	$	93,294		$	96,125		$	89,722		$	85,528		$	102,022
Serviced GNMA-guaranteed mortgage nonaccrual loans	34,489			24,347			19,706			11,733			13,441
Total non-performing assets	$	127,783		$	120,472		$	109,428		$	97,261		$	115,463

Asset Quality Ratios
Non-performing portfolio assets as a percent of total assets	0.33		%	0.35		%	0.33		%	0.32		%	0.38		%
Total non-performing assets as a percent of total assets	0.45		%	0.44		%	0.40		%	0.36		%	0.44		%
Net charge-offs as a percent of average loans (annualized)	0.21		%	0.26		%	0.14		%	0.14		%	0.18		%


AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Loan Information	Table 5
	Mar		Dec		Sep		Jun		Mar
(dollars in thousands)	2026		2025		2025		2025		2025
Loans by Type
Commercial and industrial	$	3,400,837	$	3,288,505	$	3,299,269	$	3,184,211	$	3,075,971
Consumer	166,652		180,010		202,688		209,990		213,902

Mortgage warehouse	1,232,103		1,150,782		1,083,941		1,092,475		891,412
Municipal	420,775		434,234		437,823		436,759		429,227
Premium Finance	1,365,018		1,306,267		1,358,259		1,294,293		1,176,309
Real estate - construction and development	1,564,242		1,469,250		1,411,178		1,485,842		1,842,431
Real estate - commercial and farmland	9,364,885		9,311,405		9,054,927		8,877,750		8,574,626
Real estate - residential	4,313,468		4,373,069		4,410,289		4,460,177		4,502,766
Total loans	$	21,827,980	$	21,513,522	$	21,258,374	$	21,041,497	$	20,706,644


























Loans by Risk Grade
Pass	$	21,598,675	$	21,305,745	$	21,058,458	$	20,820,888	$	20,468,496
Other assets especially mentioned	49,359		39,709		37,236		66,677		73,783
Substandard	179,946		168,068		162,680		153,932		164,365


Total loans	$	21,827,980	$	21,513,522	$	21,258,374	$	21,041,497	$	20,706,644


AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Average Balances	Table 6
	Three Months Ended
	Mar		Dec		Sep		Jun		Mar
(dollars in thousands)	2026		2025		2025		2025		2025
Earning Assets

Interest-bearing deposits in banks	$	879,724	$	884,149	$	883,976	$	951,851	$	980,164

Debt securities - taxable	2,532,669		2,432,934		2,282,470		2,117,596		1,998,226
Debt securities - nontaxable	45,241		45,237		44,823		41,299		41,391
Loans held for sale	616,530		758,588		706,679		730,770		565,531
Loans	21,590,793		21,278,859		21,038,350		20,928,825		20,620,777
Total Earning Assets	$	25,664,957	$	25,399,767	$	24,956,298	$	24,770,341	$	24,206,089

Deposits
Noninterest-bearing deposits	$	6,547,843	$	6,668,120	$	6,849,129	$	6,766,557	$	6,522,784
NOW accounts	4,195,369		4,052,397		3,900,999		3,939,802		3,988,458
MMDA	7,189,981		7,347,897		6,977,134		6,918,382		6,911,554
Savings accounts	760,258		754,439		756,383		766,331		767,148
Retail CDs	2,268,935		2,325,456		2,344,084		2,393,402		2,436,974
Brokered CDs	1,221,181		1,249,020		1,070,735		1,145,043		962,768
Total Deposits	22,183,567		22,397,329		21,898,464		21,929,517		21,589,686
Non-Deposit Funding
Federal funds purchased and securities sold under agreements to repurchase	1		—		1		—		—
FHLB advances	871,128		423,669		443,243		326,054		149,537
Other borrowings	9,899		9,920		169,994		193,492		193,494
Subordinated deferrable interest debentures	134,537		134,041		133,541		133,043		132,544
Total Non-Deposit Funding	1,015,565		567,630		746,779		652,589		475,575
Total Funding	$	23,199,132	$	22,964,959	$	22,645,243	$	22,582,106	$	22,065,261


AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Interest Income and Interest Expense (TE)	Table 7
	Three Months Ended
	Mar		Dec		Sep		Jun		Mar
(dollars in thousands)	2026		2025		2025		2025		2025
Interest Income

Interest-bearing deposits in banks	$	8,040	$	8,922	$	9,993	$	10,715	$	10,789

Debt securities - taxable	25,474		24,886		23,253		20,696		18,492
Debt securities - nontaxable (TE)	473		535		434		423		416
Loans held for sale	9,000		11,233		11,237		11,578		9,045
Loans (TE)	309,732		313,467		311,082		305,154		295,964
Total Earning Assets	$	352,719	$	359,043	$	355,999	$	348,566	$	334,706



Interest Expense
Interest-Bearing Deposits
NOW accounts	$	18,106	$	18,508	$	18,230	$	18,144	$	18,306
MMDA	46,737		52,455		54,657		53,469		52,261
Savings accounts	679		734		813		826		830
Retail CDs	18,958		20,567		21,253		21,852		23,245
Brokered CDs	11,747		13,050		11,898		12,505		10,573
Total Interest-Bearing Deposits	96,227		105,314		106,851		106,796		105,215
Non-Deposit Funding

FHLB advances	8,179		4,347		4,863		3,508		1,362
Other borrowings	159		169		2,328		2,499		2,350
Subordinated deferrable interest debentures	2,770		2,926		3,040		3,022		3,012
Total Non-Deposit Funding	11,108		7,442		10,231		9,029		6,724
Total Interest-Bearing Funding	$	107,335	$	112,756	$	117,082	$	115,825	$	111,939

Net Interest Income (TE)	$	245,384	$	246,287	$	238,917	$	232,741	$	222,767


AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Yields(1)	Table 8
	Three Months Ended
	Mar		Dec		Sep		Jun		Mar
	2026		2025		2025		2025		2025
Earning Assets

Interest-bearing deposits in banks	3.71	%	4.00	%	4.48	%	4.52	%	4.46	%

Debt securities - taxable	4.08	%	4.06	%	4.04	%	3.92	%	3.75	%
Debt securities - nontaxable (TE)	4.24	%	4.69	%	3.84	%	4.11	%	4.08	%
Loans held for sale	5.92	%	5.87	%	6.31	%	6.35	%	6.49	%
Loans (TE)	5.82	%	5.84	%	5.87	%	5.85	%	5.82	%
Total Earning Assets	5.57	%	5.61	%	5.66	%	5.64	%	5.61	%

Interest-Bearing Deposits
NOW accounts	1.75	%	1.81	%	1.85	%	1.85	%	1.86	%
MMDA	2.64	%	2.83	%	3.11	%	3.10	%	3.07	%
Savings accounts	0.36	%	0.39	%	0.43	%	0.43	%	0.44	%
Retail CDs	3.39	%	3.51	%	3.60	%	3.66	%	3.87	%
Brokered CDs	3.90	%	4.15	%	4.41	%	4.38	%	4.45	%
Total Interest-Bearing Deposits	2.50	%	2.66	%	2.82	%	2.83	%	2.83	%
Non-Deposit Funding
Federal funds purchased and securities sold under agreements to repurchase	—	%	—	%	—	%	—	%	—	%
FHLB advances	3.81	%	4.07	%	4.35	%	4.32	%	3.69	%
Other borrowings	6.51	%	6.76	%	5.43	%	5.18	%	4.93	%
Subordinated deferrable interest debentures	8.35	%	8.66	%	9.03	%	9.11	%	9.22	%
Total Non-Deposit Funding	4.44	%	5.20	%	5.44	%	5.55	%	5.73	%
Total Interest-Bearing Liabilities	2.61	%	2.74	%	2.94	%	2.94	%	2.92	%

Net Interest Spread	2.96	%	2.87	%	2.72	%	2.70	%	2.69	%

Net Interest Margin(2)	3.88	%	3.85	%	3.80	%	3.77	%	3.73	%

Total Cost of Funds(3)	1.88	%	1.95	%	2.05	%	2.06	%	2.06	%
(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
	Mar			Dec			Sep			Jun			Mar
(dollars in thousands except per share data)	2026			2025			2025			2025			2025
Net income available to common shareholders	$	110,492		$	108,356		$	106,029		$	109,834		$	87,935

Adjustment items:

Loss (gain) on sale of MSR	—			1,127			(125)			(356)			14
Gain on securities	—			(12)			(1,581)			—			(40)

Servicing right impairment (recovery)	—			910			—			—			—
Gain on BOLI proceeds	—			(220)			(390)			—			(11)
FDIC special assessment	—			(1,136)			(318)			(138)			138


Tax effect of adjustment items (Note 1)	—			(187)			425			104			(24)
After tax adjustment items	—			482			(1,989)			(390)			77

Adjusted net income	$	110,492		$	108,838		$	104,040		$	109,444		$	88,012

Weighted average number of shares - diluted	67,766,997			68,328,365			68,665,669			68,796,577			69,030,331
Net income per diluted share	$	1.63		$	1.59		$	1.54		$	1.60		$	1.27
Adjusted net income per diluted share	$	1.63		$	1.59		$	1.52		$	1.59		$	1.27

Average assets	$	27,672,313		$	27,394,953		$	26,972,134		$	26,757,322		$	26,229,423
Return on average assets	1.62		%	1.57		%	1.56		%	1.65		%	1.36		%
Adjusted return on average assets	1.62		%	1.58		%	1.53		%	1.64		%	1.36		%

Average common equity	$	4,107,670		$	4,044,338		$	3,964,207		$	3,865,031		$	3,798,149
Average tangible common equity	$	3,039,019		$	2,971,985		$	2,887,961		$	2,784,819		$	2,713,847
Return on average common equity	10.91		%	10.63		%	10.61		%	11.40		%	9.39		%
Return on average tangible common equity	14.75		%	14.46		%	14.57		%	15.82		%	13.14		%
Adjusted return on average tangible common equity	14.75		%	14.53		%	14.29		%	15.76		%	13.15		%

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	Table 9B
	Three Months Ended
	Mar			Dec			Sep			Jun			Mar
(dollars in thousands)	2026			2025			2025			2025			2025
Adjusted Noninterest Expense
Total noninterest expense	$	157,080		$	143,090		$	154,566		$	155,260		$	151,034
Adjustment items:


FDIC special assessment	—			1,136			318			138			(138)


Adjusted noninterest expense	$	157,080		$	144,226		$	154,884		$	155,398		$	150,896

Adjusted Total Revenue
Net interest income	$	244,436		$	245,307		$	237,964		$	231,813		$	221,839
Noninterest income	69,920			61,827			76,274			68,911			64,023
Total revenue	314,356			307,134			314,238			300,724			285,862
Adjustment items:
Gain on securities	—			(12)			(1,581)			—			(40)
(Gain)/loss on sale of MSR	—			1,127			(125)			(356)			14
Gain on BOLI proceeds	—			(220)			(390)			—			(11)
Servicing right impairment (recovery)	—			910			—			—			—
Adjusted total revenue	$	314,356		$	308,939		$	312,142		$	300,368		$	285,825

Efficiency ratio	49.97		%	46.59		%	49.19		%	51.63		%	52.83		%
Adjusted efficiency ratio	49.97		%	46.68		%	49.62		%	51.74		%	52.79		%

Tangible Book Value Per Share	Table 9C
	Three Months Ended
	Mar			Dec			Sep			Jun			Mar
(dollars in thousands except per share data)	2026			2025			2025			2025			2025
Total shareholders' equity	$	4,082,127		$	4,076,028		$	4,016,701		$	3,917,678		$	3,823,802
Less:
Goodwill	1,015,646			1,015,646			1,015,646			1,015,646			1,015,646
Other intangibles, net	51,430			54,824			58,703			62,582			66,658
Total tangible shareholders' equity	$	3,015,051		$	3,005,558		$	2,942,352		$	2,839,450		$	2,741,498

Period end number of shares	67,320,298			68,022,316			68,587,742			68,711,043			68,910,924
Book value per share (period end)	$	60.64		$	59.92		$	58.56		$	57.02		$	55.49
Tangible book value per share (period end)	$	44.79		$	44.18		$	42.90		$	41.32		$	39.78


AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Non-GAAP Reconciliations (continued)

Tangible Common Equity to Tangible Assets ("TCE Ratio")	Table 9D

	Mar			Dec			Sep			Jun			Mar
(dollars in thousands except per share data)	2026			2025			2025			2025			2025
Total shareholders' equity	$	4,082,127		$	4,076,028		$	4,016,701		$	3,917,678		$	3,823,802
Less:
Goodwill	1,015,646			1,015,646			1,015,646			1,015,646			1,015,646
Other intangibles, net	51,430			54,824			58,703			62,582			66,658
Total tangible shareholders' equity	$	3,015,051		$	3,005,558		$	2,942,352		$	2,839,450		$	2,741,498

Total assets	$	28,109,935		$	27,515,879		$	27,099,829		$	26,680,153		$	26,514,940
Less:
Goodwill	1,015,646			1,015,646			1,015,646			1,015,646			1,015,646
Other intangibles, net	51,430			54,824			58,703			62,582			66,658
Total tangible assets	$	27,042,859		$	26,445,409		$	26,025,480		$	25,601,925		$	25,432,636

Equity to Assets	14.52		%	14.81		%	14.82		%	14.68		%	14.42		%
Tangible Common Equity to Tangible Assets	11.15		%	11.37		%	11.31		%	11.09		%	10.78		%


AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Segment Reporting	Table 10
	Three Months Ended
	Mar		Dec		Sep		Jun		Mar
(dollars in thousands)	2026		2025		2025		2025		2025
Retail Mortgage Division
Net interest income	$	16,828	$	19,312	$	20,179	$	22,031	$	21,844
Provision for credit losses	3,074		(3,142)		529		1,010		5,191
Noninterest income	36,316		30,056		40,081		37,726		34,729
Noninterest expense
Salaries and employee benefits	21,912		21,413		21,589		24,358		20,995
Occupancy and equipment expenses	649		754		760		811		829
Data processing and telecommunications expenses	1,224		1,315		1,232		1,391		1,297
Other noninterest expenses	12,532		11,547		12,480		12,496		11,963
Total noninterest expense	36,317		35,029		36,061		39,056		35,084
Income before income tax expense	13,753		17,481		23,670		19,691		16,298
Income tax expense	2,888		3,671		4,970		4,135		3,423
Net income	$	10,865	$	13,810	$	18,700	$	15,556	$	12,875

Warehouse Lending Division
Net interest income	$	7,594	$	7,430	$	7,474	$	7,091	$	5,902
Provision for credit losses	177		129		23		369		(175)
Noninterest income	796		736		756		1,893		554
Noninterest expense
Salaries and employee benefits	544		556		566		618		552
Occupancy and equipment expenses	8		7		7		7		7
Data processing and telecommunications expenses	35		54		57		59		38
Other noninterest expenses	179		195		195		96		270
Total noninterest expense	766		812		825		780		867
Income before income tax expense	7,447		7,225		7,382		7,835		5,764
Income tax expense	1,564		1,517		1,550		1,646		1,210
Net income	$	5,883	$	5,708	$	5,832	$	6,189	$	4,554

Premium Finance Division
Net interest income	$	11,647	$	11,802	$	12,251	$	11,190	$	9,880
Provision for credit losses	1,447		926		461		716		456
Noninterest income	17		17		18		17		16
Noninterest expense
Salaries and employee benefits	2,664		2,446		2,492		2,331		2,352
Occupancy and equipment expenses	38		37		39		36		37
Data processing and telecommunications expenses	186		106		101		91		129
Other noninterest expenses	687		1,240		1,075		1,115		969
Total noninterest expense	3,575		3,829		3,707		3,573		3,487
Income before income tax expense	6,642		7,064		8,101		6,918		5,953
Income tax expense	1,384		1,450		1,669		1,410		1,214
Net income	$	5,258	$	5,614	$	6,432	$	5,508	$	4,739


AMERIS BANCORP AND SUBSIDIARIES
FINANCIAL TABLES

Segment Reporting (continued)	Table 10
	Three Months Ended
	Mar		Dec		Sep		Jun		Mar
(dollars in thousands)	2026		2025		2025		2025		2025
Banking Division
Net interest income	$	208,367	$	206,763	$	198,060	$	191,501	$	184,213
Provision for credit losses	11,853		25,037		21,617		677		16,420
Noninterest income	32,791		31,018		35,419		29,275		28,724
Noninterest expense
Salaries and employee benefits	66,246		57,582		66,301		62,001		62,716
Occupancy and equipment expenses	10,930		10,523		10,718		10,547		9,804
Data processing and telecommunications expenses	15,348		14,761		14,668		13,825		13,391
Other noninterest expenses	23,898		20,554		22,286		25,478		25,685
Total noninterest expense	116,422		103,420		113,973		111,851		111,596
Income before income tax expense	112,883		109,324		97,889		108,248		84,921
Income tax expense	24,397		26,100		22,824		25,667		19,154
Net income	$	88,486	$	83,224	$	75,065	$	82,581	$	65,767





























Total Consolidated
Net interest income	$	244,436	$	245,307	$	237,964	$	231,813	$	221,839
Provision for credit losses	16,551		22,950		22,630		2,772		21,892
Noninterest income	69,920		61,827		76,274		68,911		64,023
Noninterest expense
Salaries and employee benefits	91,366		81,997		90,948		89,308		86,615
Occupancy and equipment expenses	11,625		11,321		11,524		11,401		10,677
Data processing and telecommunications expenses	16,793		16,236		16,058		15,366		14,855
Other noninterest expenses	37,296		33,536		36,036		39,185		38,887
Total noninterest expense	157,080		143,090		154,566		155,260		151,034
Income before income tax expense	140,725		141,094		137,042		142,692		112,936
Income tax expense	30,233		32,738		31,013		32,858		25,001
Net income	$	110,492	$	108,356	$	106,029	$	109,834	$	87,935