Ameris Bancorp (NYSE: ABCB)

Ameris Bancorp (ABCB) is a financial holding company that operates primarily through its wholly-owned subsidiary, Ameris Bank. The company is based in the southeastern United States and provides a full range of banking services to retail and commercial customers in select markets in Georgia, Alabama, Florida, North Carolina, and South Carolina.

Ameris Bank generates revenue through its lending activities, which include commercial and industrial loans, commercial real estate loans, residential real estate mortgage loans, agricultural loans, and consumer loans. The company's primary products include adjustable and fixed-rate residential mortgage loans, commercial and industrial loans, and consumer loans. Its customer base includes individuals, businesses, and municipalities in its market areas.

The company's lending activities are divided into several segments, each with its own unique characteristics and products. The Commercial Real Estate Loans segment includes loans secured by owner-occupied commercial buildings for office, storage, retail, farmland, and warehouse space. These loans are underwritten with an emphasis on the viability of the project, the borrower's ability to meet certain minimum debt service requirements, and an analysis and review of the collateral and guarantors, if any.

The Residential Real Estate Mortgage Loans segment involves the origination of adjustable and fixed-rate residential mortgage loans. These mortgage loans are generally originated under terms and conditions consistent with secondary market guidelines. Some of these loans are sold in the secondary market, while others are retained in the company's loan portfolio.

The Agricultural Loans segment provides financing for crop production, the purchase of farm-related equipment or farmland, and the operations of dairies, poultry producers, livestock producers, and timber growers. Agricultural loans typically involve seasonal balance fluctuations.

The Commercial and Industrial Loans segment offers loans to manufacturers, wholesalers, and retailers of goods, service companies, municipalities, and other industries. These loans are made for acquisition, expansion, working capital, and equipment financing and may be secured by accounts receivable, inventory, equipment, personal guarantees, or other assets.

The Consumer Loans segment includes home improvement, home equity, motor vehicle, loans secured by savings accounts, and personal credit lines. The terms of these loans typically range from 12 to 240 months and vary based on the nature of the collateral and size of the loan.

Ameris Bank operates in a highly competitive market, with intense competition for deposits and loans. The company faces competition from other commercial banks, thrift institutions, savings banks, internet banks, credit unions, and brokerage and investment banking firms. To remain competitive, Ameris has varied interest rates and loan fees to some degree and increased the number and complexity of services provided.

The company's human capital is its greatest strength, with a diverse workforce of 2,765 full-time-equivalent employees, primarily located in its core markets. Ameris provides its employees with a comprehensive benefits package, including medical, dental, vision, and life insurance, paid time-off, 401(k) profit-sharing plan participation, and an employee stock purchase plan. The company also offers professional growth opportunities through its robust learning and development initiatives, including mentorship programs and leadership development training.

Ameris is committed to fostering an equitable work environment that seeks to ensure fair treatment, equality of opportunity, and fairness in access to information and resources for all employees. The company has appointed a Diversity and Inclusion Officer and established a Diversity Task Force to cultivate an environment that supports its strategy to engage, recruit, develop, retain, and advance a diverse team of talent, inclusively and equitably.

In addition to its lending activities, Ameris also generates revenue through its investment activities, including investments in U.S. Treasury obligations, securities issued by U.S. government-sponsored agencies, state and municipal obligations, mortgage-backed securities, corporate obligations, and satisfactorily-rated trust preferred obligations. The company's investments must satisfy certain quality criteria, including being investment-grade as determined by a nationally recognized investment rating service.

Ameris Bank is extensively regulated, supervised, and examined under federal and state law, with laws and regulations covering all aspects of its business, including lending and collection practices, treatment of customers, safeguarding deposits, customer privacy and information security, capital structure, liquidity, dividends, and other capital distributions, and transactions with affiliates. The company is subject to various restrictions and requirements, including capital adequacy requirements, risk-based capital standards, and restrictions on transactions with affiliates and insiders.