CONDENSED FINANCIAL INFORMATION OF AMERIS BANCORP (PARENT COMPANY ONLY) (Tables)

12 Months Ended

Dec. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Balance Sheets

CONDENSED BALANCE SHEETS

DECEMBER 31, 2016 AND 2015

(dollars in thousands)

	2016		2015
Assets
Cash and due from banks	$	457	$	5,847
Investment in subsidiaries		767,682		617,134
Other assets		7,706		6,717
Total assets	$	775,845	$	629,698
Liabilities
Other liabilities	$	6,330	$	6,065
Other borrowings		38,850		39,000
Subordinated deferrable interest debentures		84,228		69,874
Total liabilities		129,408		114,939
Stockholders’ equity		646,437		514,759
Total liabilities and stockholders’ equity	$	775,845	$	629,698

Condensed Statements of Income

CONDENSED STATEMENTS OF INCOME

YEARS ENDED DECEMBER 31, 2016, 2015 AND 2014

(dollars in thousands)

	2016		2015		2014
Income
Dividends from subsidiaries	$	34,631	$	10,000	$	29,000
Other income		208		59		235
Total income		34,839		10,059		29,235
Expense
Interest expense		6,280		4,813		4,558
Other expense		2,825		1,521		2,253
Total expense		9,105		6,334		6,811
Earnings before income tax benefit and equity in undistributed income of subsidiaries		25,734		3,725		22,424
Income tax benefit		2,972		2,382		2,468
Earnings before equity in undistributed income of subsidiaries		28,706		6,107		24,892
Equity in undistributed income of subsidiaries		43,394		34,740		13,831
Net income		72,100		40,847		38,723
Preferred stock dividends		-		-		286
Net income available to common shareholders	$	72,100	$	40,847	$	38,437

Condensed Statements of Cash Flows

CONDENSED STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2016, 2015 AND 2014

(dollars in thousands)

	2016		2015		2014
OPERATING ACTIVITIES
Net income	$	72,100	$	40,847	$	38,723
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Stock-based compensation expense		2,261		1,485		2,058
Undistributed earnings of subsidiaries		(43,394)		(34,740)		(13,831)
(Increase) decrease in interest payable		(63)		20		(214)
Decrease in tax receivable		(3,224)		(2,656)		(256)
Provision for deferred taxes		508		188		(426)
Other operating activities		(528)		866		(1,558)
Total adjustments		(44,440)		(34,837)		(14,227)
Net cash provided by (used in) operating activities		27,660		6,010		24,496
INVESTING ACTIVITIES
Investment in subsidiary		-		(60,000)		-
Net cash proceeds received from (paid for) acquisitions		(23,205)		(49,940)		144
Net cash provided by investing activities		(23,205)		(109,940)		144
FINANCING ACTIVITIES
Issuance of common stock		-		114,889		-
Purchase of treasury shares		(1,225)		(732)		(474)
Dividends paid preferred stock		-		-		(286)
Dividends paid common stock		(8,584)		(6,439)		(4,016)
Proceeds from other borrowings		14,000		-		14,000
Repayment of other borrowings		(15,000)		-		(9,005)
Repurchase of preferred stock		-		-		(28,000)
Proceeds from exercise of stock options		964		1,191		459
Net cash provided by (used in) financing activities		(9,845)		108,909		(27,322)
Net change in cash and due from banks		(5,390)		4,979		(2,682)
Cash and due from banks at beginning of year		5,847		868		3,550
Cash and due from banks at end of year	$	457	$	5,847	$	868
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid during the year for interest	$	6,343	$	4,793	$	4,772
Cash paid during the year for income taxes	$	-	$	-	$	-