BASIS OF PRESENTATION AND ACCOUNTING POLICIES

9 Months Ended

Sep. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

BASIS OF PRESENTATION AND ACCOUNTING POLICIES

NOTE 1 – BASIS OF PRESENTATION AND ACCOUNTING POLICIES

Nature of Business

Ameris Bancorp (the “Company” or “Ameris”) is a financial holding company headquartered in Atlanta, Georgia. Ameris conducts substantially all of its operations through its wholly owned banking subsidiary, Ameris Bank (the “Bank”). At September 30, 2025, the Bank operated 164 branches in select markets in Georgia, Alabama, Florida, North Carolina and South Carolina. The Bank provides a full range of traditional banking and lending products, treasury and cash management, insurance premium financing, and mortgage and refinancing services.

Basis of Presentation

The accompanying unaudited consolidated financial statements for Ameris have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and Regulation S-X. Accordingly, the financial statements do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America (“GAAP”) for complete financial statement presentation. The interim consolidated financial statements included herein are unaudited but reflect all adjustments, consisting of normal recurring adjustments, which, in the opinion of management, are necessary for a fair presentation of the consolidated financial position and results of operations for the interim periods presented. All significant intercompany accounts and transactions have been eliminated in consolidation. The results of operations for the three and nine months ended September 30, 2025 are not necessarily indicative of the results to be expected for the full year. These financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.

In preparing the consolidated financial statements in conformity with GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents

For purposes of reporting cash flows, cash and cash equivalents include cash on hand, cash items in process of collection, amounts due from banks, interest-bearing deposits in banks and federal funds sold.

Reclassifications

Certain reclassifications of prior year amounts have been made to conform with the current year presentations. The reclassifications had no effect on net income or shareholders' equity as previously reported.

Immaterial Correction of Prior Period Financial Statements

During the third quarter of 2025, the Company made revisions to previously issued segment results to correct the classification of select financial information between the Banking and Warehouse Lending Divisions for the three and nine months ended September 30, 2024. The Company concluded that the corrections were not material from a combined qualitative and quantitative perspective. There is no impact to the consolidated financial statements.

A summary of the corrections is presented below.

	Three Months Ended September 30, 2024
	Banking Division						Warehouse Lending Division
(dollars in thousands)	As Reported		Adjustments		As Corrected		As Reported		Adjustments		As Corrected
Interest income	$	255,241	$	(11,277)	$	243,964	$	10,400	$	11,277	$	21,677
Interest expense	78,447		(7,118)		71,329		6,747		7,118		13,865
Net interest income	176,794		(4,159)		172,635		3,653		4,159		7,812
Noninterest income	27,800		(1,365)		26,435		400		1,365		1,765
Income before income tax expense	89,128		(5,524)		83,604		3,347		5,524		8,871
Income tax expense	18,992		(1,160)		17,832		703		1,160		1,863
Net income	$	70,136	$	(4,364)	$	65,772	$	2,644	$	4,364	$	7,008
Total assets	$	19,387,331	$	(403,996)	$	18,983,335	$	597,670	$	403,996	$	1,001,666

	Nine Months Ended September 30, 2024
	Banking Division						Warehouse Lending Division
(dollars in thousands)	As Reported		Adjustments		As Corrected		As Reported		Adjustments		As Corrected
Interest income	$	734,220	$	(11,277)	$	722,943	$	46,263	$	11,277	$	57,540
Interest expense	219,421		(7,118)		212,303		30,290		7,118		37,408
Net interest income	514,799		(4,159)		510,640		15,973		4,159		20,132
Noninterest income	91,690		(1,365)		90,325		2,168		1,365		3,533
Income before income tax expense	232,941		(5,524)		227,417		14,286		5,524		19,810
Income tax expense	61,110		(1,160)		59,950		3,000		1,160		4,160
Net income	$	171,831	$	(4,364)	$	167,467	$	11,286	$	4,364	$	15,650

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 Company’s income statement. ASU 2024-03 is effective for the Company’s annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, and should be applied either on a prospective or retrospective basis, with early adoption permitted. The Company is currently evaluating the effect that adoption of ASU 2024-03 will have on its disclosures.

ASU No. 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software ("ASU 2025-06"). ASU 2025-06 replaces the previous guidance based on the "project stage" model and increases the operability of the recognition guidance through a principles-based approach so that the guidance is neutral to different software development methods. ASU 2025-06 is effective for annual periods beginning after December 15, 2027, including interim periods within those fiscal years. Early adoption is permitted. The company is currently evaluating the effect that adoption of this pronouncement will have on our consolidated financial statements and disclosures.