Ameris Bancorp : Annual Report - 2024
ABCB
2024 ANNUAL REPORT
Dear Shareholders,
In a year characterized by unpredictability, Ameris Bancorp produced consistent results and demonstrated unwavering purpose in 2024. We achieved top-tier performance on key metrics across the company, while helping people and businesses gain financial peace of mind, invest in their future and grow their assets.
We continued to create meaningful value for our shareholders. Ameris exceeded prior-year results, posting net income of $358.7 million in 2024, or $5.19 per diluted share, and growing tangible book value by 14.7%. We increased deposits by more than a billion dollars, significantly grew our loan base and largely protected net interest margin during a lowering rate environment. Our balance sheet remains strong. At December 31, 2024, total assets were $26.26 billion, and we increased our tangible common equity ratio to 10.59%.
Operational efficiency continues to be a priority, and teammates in all business lines contributed to great performance metrics while maintaining a passion for providing an outstanding customer experience. Our efficiency ratio of 53.20% for 2024 remains among the best of our peer banks.
With strong capital, healthy reserves strengthened to 1.63% of total loans, and a positive outlook for our company, the Ameris Board of Directors was pleased to increase the dividend to shareholders by 33% beginning in December 2024.
We are proud to be headquartered in Atlanta and to serve our valued retail customers across the dynamic Southeast markets, as well as customers of our other diverse lines of business across the country. We are equally proud of our vital and talented management team and bankers. The future is bright with continued growth potential, and we are here to serve.
Thank you for your investment in Ameris. We will work to maintain your confidence with reliable results through prudent stewardship of capital, and attractive products and services for all stakeholders.
H. Palmer Proctor Jr.
Leo J. Hill
Chief Executive Officer
Lead Independent Director
ANNUAL REPORT 2024 | 1
Year-Over-Year Performance
$25.00
$20.00
$21.70
$15.00
$10.00
2021
2022
2023
2024
TOTAL DEPOSITS
(In billions of dollars)
$40.00
$35.00
$38.59
$30.00
$25.00
$20.00
$15.00
2021
2022
2023
2024
TANGIBLE BOOK VALUE PER SHARE
(In dollars)
$1.25
$1.00
$1.14
$0.75
$0.50
$0.25
2021 2022 2023 2024
TOTAL REVENUE
(In billions of dollars)
$30.00
$25.00
$20.00
$15.00
$10.00
$6.00 $5.00 $4.00
$3.00 $2.00 $1.00
20%
15%
10%
5%
0%
$26.26
2021 2022 2023 2024
TOTAL ASSETS
(In billions of dollars)
$5.19
2021 2022 2023 2024
EARNINGS PER SHARE
(In dollars)
15.4%
2021 2022 2023 2024
TOTAL CAPITAL RATIO
(In percentages)
2 | AMERIS BANCORP
2024 Performance
In 2024, Ameris remained disciplined and focused.
Our year-end results reflect the stability of our company and our collective commitment to grow deposits, serve customers and efficiently perform with integrity.
$21.70 BILLION
Total Deposits
$1.14 BILLION
Total Revenue
$26 BILLION
Total Assets
$38.59
Tangible Book Value Per Share
$5.19
Earnings Per Share
15.4%
Total Capital Ratio
ANNUAL REPORT 2024 | 3
Ameris Bancorp celebrated the transfer of our common stock listing to the NYSE.
We are excited to announce the transfer of Ameris Bancorp's common stock listing to the NYSE, the world's premier stock exchange. We believe this strategic move will provide enhanced visibility and a strengthened market position for our Company.
Palmer Proctor
Ameris Bank, Chief Executive Officer
4 | AMERIS BANCORP
Who We Are
2024
Forbes - America's Best
2024
Greenwich Excellence
Awards Small Business
Midsize Employers
Banking
2024
Inspiring Workplaces
2024
Newsweek - Most
Trustworthy Companies in
North America
America 2024
164
Branches
2,700
Teammates
500K+
Customers in 50 States
ANNUAL REPORT 2023 | 5
Creating an Exceptional Customer Experience
In 2024, Ameris continued to demonstrate a steadfast commitment to delivering an exceptional experience for our customers. With an unwavering focus on our customers, we made meaningful investments in technology and teammates. By consistently keeping our customers at the center of everything we do, we ensure their needs guide our innovations and services.
6 | AMERIS BANCORP
Reaching New Customers
Ameris launched a new deposit acquisition program to reach new customers while deepening our relationships with those who already bank with us. In partnership with a leading data-driven marketing company, we built a tailored program for Ameris Bank. The initiative kicked off with a lead generation program and custom in-person training, offering expertise and tailored solutions to our customers. The results of the deposit acquisition program led to a 17% year-over year increase of in-branch consumer checking account openings.
Refining Products
In an increasingly competitive environment, having the right financial tools can make all the difference to customers. Our Benefits Checking account was redesigned to promote the unique features included with the account, including fraud protection services, credit monitoring, cell phone protection and more. Additionally, we've made it even easier for business customers to bank with Ameris using our updated mobile app. Business customers can now enjoy easy navigation, an enhanced landing page and helpful features such as scheduling recurring transfers.
Aligning Expertise
To best align our experts with our customers' needs, we introduced a newly-created Wholesale Banking business line. Wholesale Banking is comprised of Treasury Management, Industry Specialty Banking, Commercial Real Estate & Capital Markets, and Corporate Banking. This structure allows leaders to provide relevant industry expertise to our customers to create deeper relationships.
Protecting Customers' Peace of Mind
Keeping our customers' accounts and personal information secure is critical, and Ameris continues to invest in fraud prevention. We regularly connect with customers via our website, informative emails and the Ameris Bank App to educate them about the latest scams and protecting themselves. Additionally, new technology, such as our new check scanning system designed to flag fraudulent checks, strengthens our protective measures.
ANNUAL REPORT 2024 | 7
Building
Homeownership
The Ameris Choice down payment assistance program was created to help qualified applicants purchase or refinance a home. Launched in January 2024, Ameris Choice provided $6 million in assistance to help more than 400 people purchase a home.
Ameris Choice allows qualified borrowers to choose how their assistance funds are applied, as a combination of down payment assistance, closing cost assistance or permanent rate buydown, ensuring their mortgage best suits their financial needs.
Ameris has done meaningful work to help make the dream of homeownership a reality. We are committed to our continued work with area nonprofits, government agencies and community partners to provide financial education. We are thrilled with the early success of Ameris Choice and the financial peace of mind
we are creating for new generations of homeowners.
Clyde Anderson,
SVP, Director of Community Lending
8 | AMERIS BANCORP
ANNUAL REPORT 2024 | 9
Disclaimer
Ameris Bancorp published this content on April 21, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 23, 2025 at 15:26 UTC.