Financial Analysis

COMMITMENTS AND CONTINGENT LIABILITIES Loan Commitments The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. They involve, to varying degrees, elements of credit risk and interest rate risk in excess of the amount recognized in the Company's balance sheets. The Companys exposure to credit loss is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. A summary of the Companys commitments is as follows: December 31, (dollars in thousands) 2025 2024 Commitments to extend credit $ 4,054,259 $ 3,578,227 Unused home equity lines of credit 451,886 437,304 Financial standby letters of credit 69,796 39,507 Mortgage interest rate lock commitments 201,806 192,528 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. These commitments, predominantly at variable interest rates, generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The amount of collateral obt …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

OTHER BORROWINGS Other borrowings consist of the following: December 31, (dollars in thousands) 2025 2024 FHLB borrowings: Fixed Rate Advance due January 21, 2025; fixed interest rate of 4.430% $ $ 50,000 Fixed Rate Advance due March 3, 2025; fixed interest rate of 1.208% 15,000 Daily Rate Credit due December 16, 2026; variable interest rate of 3.880% 515,000 Fixed Rate Advance due March 2, 2027; fixed interest rate of 1.445% 15,000 15,000 Fixed Rate Advance due March 4, 2030; fixed interest rate of 1.606% 15,000 15,000 Fixed Rate Advance due December 9, 2030; fixed interest rate of 4.550% 1,355 1,366 Fixed Rate Advance due December 9, 2030; fixed interest rate of 4.550% 938 946 Principal Reducing Advance due September 29, 2031; fixed interest rate of 3.095% 838 984 Subordinated notes payable: 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% (Bank subordinated notes) (1) 74,653 Subordinated notes payable due October 1, 2030 net of unamortized debt issuance cost of $0 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% (2030 subordinated notes) 108,839 Other Debt: Advance from correspondent bank due December 1, 2025; secured by a loan receivable; variable interest rate at one-month …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

The following provides information on noninterest income categories that contain ASC 606 Revenue for the periods indicated. For the Years Ended December 31, (dollars in thousands) 2025 2024 2023 Service charges on deposit accounts ASC 606 revenue items Debit card interchange fees $ 17,669 $ 17,160 $ 16,161 Overdraft fees 18,368 17,339 15,793 Other service charges on deposit accounts 18,608 16,394 14,621 Total ASC 606 revenue included in service charges on deposits accounts 54,645 50,893 46,575 Total service charges on deposit accounts $ 54,645 $ 50,893 $ 46,575 Other service charges, commissions and fees ASC 606 revenue items ATM fees $ 3,336 $ 3,512 $ 3,856 Total ASC 606 revenue included in other service charges, commission and fees 3,336 3,512 3,856 Other 1,157 1,246 545 Total other service charges, commission and fees $ 4,493 $ 4,758 $ 4,401

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SHARE-BASED COMPENSATION The Company awards its employees and directors various forms of share-based incentives under certain plans approved by its shareholders. Awards granted under the 2021 Omnibus Equity Compensation Plan may be in the form of an option, stock appreciation right, restricted share, restricted share unit, performance share, performance share unit, performance award or other stock-based award or any combination thereof within the limitations set forth in the plans. The plans provide that the aggregate number of shares of the Companys common stock which may be subject to award may not exceed 2,766,302 subject to adjustment in certain circumstances to prevent dilution. At December 31, 2025, there were 2,067,280 shares available to be issued under the plans. The Company did not grant any options during 2025, 2024 or 2023 and there were no options outstanding at December 31, 2025 and 2024. As of December 31, 2025, there was no unrecognized compensation cost related to options. As of December 31, 2025, the Company has 226,838 outstanding restricted shares granted under the plans as compensation to certain employees and directors. Dividends are not paid in respect of the awards during the vesting period, although dividend equivalents do accrue over the life of the award and will vest, if at all, at the same time as the awards to which they relate. These shares carry voting rights and sales of these shares are restricted prior to the date of vesting, which is genera …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

FAIR VALUE MEASURES The fair value of an asset or liability is the current amount that would be exchanged between willing parties, other than in a forced liquidation. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Companys various assets and liabilities. In cases where quoted market prices are not available, fair value is based on discounted cash flows or other valuation techniques. These techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the asset or liability. The accounting standard for disclosures about the fair value measures excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Company. The Company's mortgage loans held for sale under the fair value option were $623.2 million and $528.6 million at December 31, 2025 and 2024, respectively. The Company has elected to record mortgage loans held for sale at fair value in order to eliminate the complexities and inherent difficulties of achieving hedge accounting and to better align reported results with the underlying economic changes in value of the loans and related hedge instruments. This election impacts the …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

GOODWILL AND INTANGIBLE ASSETS The change in the carrying value of goodwill for the years ended December 31, 2025 and 2024 is summarized below for both the total Company and by the Company's reporting units. December 31, (dollars in thousands) 2025 2024 Consolidated Carrying amount of goodwill at beginning of year $ 1,015,646 $ 1,015,646 Carrying amount of goodwill at end of year $ 1,015,646 $ 1,015,646 Banking Carrying amount of goodwill at beginning of year $ 951,148 $ 951,148 Carrying amount of goodwill at end of year $ 951,148 $ 951,148 Premium Finance Division Carrying amount of goodwill at beginning of year $ 64,498 $ 64,498 Carrying amount of goodwill at end of year $ 64,498 $ 64,498 The Company performs its annual impairment test at December 31 of each year and more frequently if a triggering event occurs. Impairment exists when a reporting units carrying value of goodwill exceeds its fair value. At December 31, 2025, the Company performed its annual qualitative assessment and determined that it was more likely than not that the reporting units' fair values exceeded their carrying values. The carrying value of intangible assets as of December 31, 2025 and 2024 was $54.8 million and $70.8 million, respectively. Intangible assets are comprised of core deposit intangibles, referral relationships intangibles, patent intangibles, trade name intangibles and non-compete agreement intangibles. The following is a summary of information related to acquired intangible assets: As …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

INCOME TAXES The income tax expense in the consolidated statements of income consists of the following: For the Years Ended December 31, (dollars in thousands) 2025 2024 2023 Current Tax Expense Current - federal $ 117,405 $ 117,978 $ 84,835 Current - state 14,756 19,275 23,463 Total Current Income Tax Expense $ 132,161 $ 137,253 $ 108,298 Deferred Tax Expense Deferred - federal $ (10,227) $ (18,918) $ (16,882) Deferred - state (324) (1,160) (3,586) Total Deferred Income Tax Expense $ (10,551) $ (20,078) $ (20,468) Total Income Tax Expense U.S. federal $ 107,178 $ 99,060 $ 67,953 State 14,432 18,115 19,877 Total Income Tax Expense $ 121,610 $ 117,175 $ 87,830 The Companys income tax expense differs from the amounts computed by applying the federal income tax statutory rates to income before income taxes. A reconciliation of the differences is as follows: For the Years Ended December 31, 2025 2024 2023 (dollars in thousands) Amount Percent Amount Percent Amount Percent U.S. Federal statutory tax rate $ 112,090 21.0 % $ 99,931 21.0 % $ 74,956 21.0 % State income tax, net of federal income tax effect (1) 11,333 2.1 % 14,068 3.0 % 14,950 4.2 % Tax credits (486) (0.1) % (367) (0.1) % (147) % Nontaxable or nondeductible Items (1,327) (0.2) % 3,543 0.7 % (1,929) (0.6) % Provision for income taxes $ 121,610 22.8 % $ 117,175 24.6 % $ 87,830 24.6 % (1) The states that contribute to the majority (greater than 50%) of the tax effect in this category include Georgia and Florida. The compo …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

LEASES Operating lease cost was $10.1 million, $10.8 million and $12.3 million for the years ended December 31, 2025, 2024 and 2023, respectively. For the years ended December 31, 2025, 2024 and 2023, sublease income was $483,000, $715,000 and $1.3 million, respectively. Variable rent expense and short-term lease expense were not material for the years ended December 31, 2025 and 2024. The following table presents the impact of leases on the Company's consolidated balance sheets at December 31, 2025 and 2024: December 31, (dollars in thousands) Location 2025 2024 Operating lease right-of-use assets Other assets $ 42,200 $ 45,069 Operating lease liabilities Other liabilities 50,676 53,403 Future maturities of the Company's operating lease liabilities are summarized as follows: (dollars in thousands) Year Ended December 31, Lease Liability 2026 $ 10,342 2027 9,147 2028 7,752 2029 6,617 2030 5,743 Thereafter 15,102 Total lease payments $ 54,703 Less: Interest (4,027) Present value of lease liabilities $ 50,676 (dollars in thousands) December 31, Supplemental lease information 2025 2024 2023 Weighted-average remaining lease term (years) 6.5 6.9 7.6 Weighted-average discount rate 2.24 % 1.92 % 1.68 % Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases (cash payments) $ 10,476 $ 11,378 $ 12,045 Operating cash flows from operating leases (lease liability reduction) $ 10,476 $ 11,378 $ 12,045 Operating lease right-of-use …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

"Accounting Standards Adopted in 2025 ASU No. 2023-09 - Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09). ASU 2023-09 provides for enhanced income tax disclosures by, among other things, requiring specific breakout of certain categories in the reconciliation of statutory income tax rate to effective rate, establishing a quantitative threshold for further breakout of reconciling items exceeding the threshold and not already required to be separately disclosed, requiring a qualitative description of the state and local jurisdictions making up the majority (greater than 50%) of the effect of state and local income taxes category, and provide further disaggregation of income taxes paid (net of refunds received) by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. The Company adopted this standard effective January 1, 2025 and adoption did not have a significant impact on the Company's financial position or results of operations. The adoption enhanced income tax disclosures beginning with the Company's Annual Report on this Form 10-K and is applied on a retrospective basis. Refer to Note 11 for additional information related to income taxes. Accounting Standards Pending Adoption ASU No. 2024-03 - Income Statement - Reporting Comprehensive Income (Topic 220): Expense Disaggregation Disclosures (ASU 2024-03). ASU No. 2024-03 requires additional disclosure of certain expense captions presented on the face of the …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

REVENUE FROM CONTRACTS WITH CUSTOMERS The following provides information on noninterest income categories that contain ASC 606 Revenue for the periods indicated. For the Years Ended December 31, (dollars in thousands) 2025 2024 2023 Service charges on deposit accounts ASC 606 revenue items Debit card interchange fees $ 17,669 $ 17,160 $ 16,161 Overdraft fees 18,368 17,339 15,793 Other service charges on deposit accounts 18,608 16,394 14,621 Total ASC 606 revenue included in service charges on deposits accounts 54,645 50,893 46,575 Total service charges on deposit accounts $ 54,645 $ 50,893 $ 46,575 Other service charges, commissions and fees ASC 606 revenue items ATM fees $ 3,336 $ 3,512 $ 3,856 Total ASC 606 revenue included in other service charges, commission and fees 3,336 3,512 3,856 Other 1,157 1,246 545 Total other service charges, commission and fees $ 4,493 $ 4,758 $ 4,401 The following provides information on net gains (losses) recognized on the sale of OREO for the periods indicated. For the Years Ended December 31, (dollars in thousands) 2025 2024 2023 Net gains (losses) recognized on sale of OREO $ 291 $ (148) $ 2,214

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SEGMENT REPORTING The Company has the following four reportable segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division and Premium Finance Division. The Banking Division derives its revenues from the delivery of full-service financial services, including commercial loans, consumer loans and deposit accounts. The Retail Mortgage Division derives its revenues from the origination, sales and servicing of one-to-four family residential mortgage loans. The Warehouse Lending Division derives its revenues from the origination and servicing of warehouse lines to other businesses that are secured by underlying one-to-four family residential mortgage loans. The Premium Finance Division derives its revenues from the origination and servicing of commercial and life insurance premium finance loans. The Banking, Retail Mortgage, Warehouse Lending and Premium Finance Divisions are managed as separate business units because of the different products and services they provide. The Company evaluates performance and allocates resources based on profit or loss from operations. There are no material intersegment sales or transfers. The Chief Operating Decision Maker (CODM) within the Company is the Chief Executive Officer, who also serves as Chair of the Executive Committee and as a member of the Board of Directors. The CODM regularly receives a package of period end reports and works with management in making the necessary operating decisions, including allocation of re …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Business Ameris Bancorp and subsidiaries (the Company or Ameris) is a financial holding company headquartered in Atlanta, Georgia, and whose primary business is presently conducted by Ameris Bank, its wholly owned banking subsidiary (the Bank). Through the Bank, the Company operates a full service banking business and offers a broad range of retail and commercial banking services to its customers concentrated in select markets in Georgia, Alabama, Florida, North Carolina and South Carolina. The Bank also engages in mortgage banking activities, and, as such, originates, acquires, sells and services one-to-four family residential mortgage loans primarily in the Southeast. The Bank also originates, administers and services commercial insurance premium loans, equipment finance loans and SBA loans made to borrowers throughout the United States. The Company and the Bank are subject to the regulations of certain federal and state agencies and are periodically examined by those regulatory agencies. Basis of Presentation and Accounting Estimates The consolidated financial statements include the accounts of the Company and its subsidiaries. Variable Interest Entities for which the Company or its subsidiaries have been determined to be the primary beneficiary are also consolidated. Significant intercompany transactions and balances have been eliminated in consolidation. In preparing the consolidated financial statements in conformity …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

NOTE 8 COMMITMENTS AND CONTINGENCIES Loan Commitments The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. They involve, to varying degrees, elements of credit risk and interest rate risk in excess of the amount recognized in the Companys balance sheets. The Companys exposure to credit loss is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. A summary of the Companys commitments is as follows: (dollars in thousands) September 30, 2025 December 31, 2024 Commitments to extend credit $ 3,768,159 $ 3,578,227 Unused home equity lines of credit 456,812 437,304 Financial standby letters of credit 45,080 39,507 Mortgage interest rate lock commitments 339,782 192,528 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. These commitments, predominantly at variable interest rates, generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The amount of col …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 4 OTHER BORROWINGS Other borrowings consist of the following: (dollars in thousands) September 30, 2025 December 31, 2024 FHLB borrowings: Fixed Rate Advance due January 21, 2025; fixed interest rate of 4.430% $ $ 50,000 Fixed Rate Advance due March 3, 2025; fixed interest rate of 1.208% 15,000 Daily Rate Credit due December 16, 2025; variable interest rate of 4.330% 185,000 Fixed Rate Advance due March 2, 2027; fixed interest rate of 1.445% 15,000 15,000 Fixed Rate Advance due March 4, 2030; fixed interest rate of 1.606% 15,000 15,000 Fixed Rate Advance due December 9, 2030; fixed interest rate of 4.550% 1,358 1,366 Fixed Rate Advance due December 9, 2030; fixed interest rate of 4.550% 940 946 Principal Reducing Advance due September 29, 2031; fixed interest rate of 3.095% 874 984 Subordinated notes payable: 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% 74,653 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% 108,991 108,839 Other Debt: 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 10,00 …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 7 FAIR VALUE MEASURES The fair value of an asset or liability is the current amount that would be exchanged between willing parties, other than in a forced liquidation. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Companys various assets and liabilities. In cases where quoted market prices are not available, fair value is based on discounted cash flows or other valuation techniques. These techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the asset or liability. The accounting standard for disclosures about the fair value measures excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Company. The Company's loans held for sale under the fair value option are comprised of the following: (dollars in thousands) September 30, 2025 December 31, 2024 Mortgage loans held for sale $ 599,399 $ 528,599 SBA loans held for sale 4,737 Total loans held for sale $ 604,136 $ 528,599 The Company has elected to record mortgage loans held for sale at fair value in order to eliminate the complexities and inherent difficulties of achieving hedge accounting and to better align r …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

"Accounting Standards Pending Adoption ASU No. 2023-09 - Income Taxes (Topic 740): Improvements to Income Tax Disclosures (""ASU 2023-09""). ASU No. 2023-09 provides for enhanced income tax disclosures by, among other things, requiring specific breakout of certain categories in the reconciliation of statutory income tax rate to effective rate, establishing a quantitative threshold for further breakout of reconciling items exceeding the threshold and not already required to be separately disclosed, requiring a qualitative description of the state and local jurisdictions making up the majority (greater than 50%) of the effect of state and local income taxes category, and provide further disaggregation of income taxes paid (net of refunds received) by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the guidance and it is not expected to have a significant impact on the Company's financial position or results of operations but will increase disclosures of income taxes. ASU No. 2024-03 - Income Statement - Reporting Comprehensive Income (Topic 220): Expense Disaggregation Disclosures (""ASU 2024-03""). ASU No. 2024-03 requires additional disclosure of certain expense captions presented on the face of the Companys income statement. ASU 2024-03 is effective for the Companys annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning af …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

NOTE 9 SEGMENT REPORTING The Company has the following four reportable segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division and Premium Finance Division. The Banking Division derives its revenues from the delivery of full-service financial services, including commercial loans, consumer loans and deposit accounts. The Retail Mortgage Division derives its revenues from the origination, sales and servicing of one-to-four family residential mortgage loans. The Warehouse Lending Division derives its revenues from the origination and servicing of warehouse lines to other businesses that are secured by underlying one-to-four family residential mortgage loans or mortgage servicing rights. The Premium Finance Division derives its revenues from the origination and servicing of commercial insurance premium finance loans. The Banking, Retail Mortgage, Warehouse Lending and Premium Finance Divisions are managed as separate business units because of the different products and services they provide. The Company evaluates performance and allocates resources based on profit or loss from operations. There are no material intersegment sales or transfers. The chief operating decision maker (CODM) within the Company is the Chief Executive Officer, who also serves as a member of the Board of Directors and as Chair of the Executive Committee of the Board. The CODM regularly receives a package of period-end reports and works with management in making necessary operating d …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing