Condensed Financial Information Of Ameris Bancorp (Parent Company Only)

12 Months Ended

Dec. 31, 2011

Condensed Financial Information Of Ameris Bancorp (Parent Company Only) [Abstract]

Condensed Financial Information Of Ameris Bancorp (Parent Company Only)

NOTE 20. CONDENSED FINANCIAL INFORMATION OF AMERIS BANCORP (PARENT COMPANY ONLY)

CONDENSED BALANCE SHEETS

DECEMBER 31, 2011 AND 2010

(Dollars in Thousands)

	2011		2010
Assets
Cash and due from banks	$	4,200	$	8,763
Investment in subsidiaries		331,946		304,109
Other assets		1,063		3,922
Total assets	$	337,209	$	316,794
Liabilities
Other liabilities	$	1,170	$	1,118
Subordinated deferrable interest debentures		42,269		42,269
Total liabilities		43,439		43,387
Stockholders' equity		293,770		273,407
Total liabilities and stockholders' equity	$	337,209	$	316,794

CONDENSED STATEMENTS OF OPERATIONS

YEARS ENDED DECEMBER 31, 2011, 2010 AND 2009

(Dollars in Thousands)

	2011			2010			2009
Income
Dividends from subsidiaries	$	—		$	—		$	—
Other income		124			59			221
Total income		124			59			221
Expense
Interest		1,417			887			1,766
Other expense		1,120			1,198			757
Total expense		2,537			2,085			2,523
Loss before income tax benefit and equity in undistributed income (loss) of subsidiaries		(2,413	)		(2,026	)		(2,302	)
Income tax benefit		785			541			683
Loss before equity in undistributed income (loss) of subsidiaries		(1,628	)		(1,485	)		(1,619	)
Equity in undistributed income (loss) of subsidiaries		22,721			(2,504	)		(40,170	)
Net income (loss)	$	21,093		$	(3,989	)	$	(41,789	)
Preferred stock dividend		3,241			3,213			3,161
Net income (loss) available to common shareholders	$	17,852		$	(7,202	)	$	(44,950	)

CONDENSED STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2011, 2010 AND 2009

(Dollars in Thousands)

	2011			2010			2009
OPERATING ACTIVITIES
Net income (loss)	$	21,093		$	(3,989	)	$	(41,789	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Stock-based compensation expense		785			724			701
Undistributed (earnings) losses of subsidiaries		(22,721	)		2,504			40,170
Increase in interest payable		54			145			16
Increase (decrease) in tax receivable		(247	)		184			3,521
Provision for deferred taxes		(390	)		447			866
Decrease in due from subsidiaries		—			—			81
Other operating activities		(530	)		(229	)		(536	)
Total adjustments		(23,049	)		3,775			44,819
Net cash provided by (used in) operating activities		(1,956	)		(214	)		3,030
INVESTING ACTIVITIES
Contribution of capital to subsidiary bank		—			(80,000	)		(40,000	)
Net cash used in investing activities		—			(80,000	)		(40,000	)
FINANCING ACTIVITIES
Repayments of other borrowings and debentures		—			—			(5,000	)
Purchase of treasury shares		—			(19	)		(25	)
Dividends paid preferred stock		(2,635	)		(2,636	)		(2,583	)
Proceeds from issuance of common stock		—			85,270			—
Cash dividends paid common stock		—			(21	)		(1,375	)
Accretion of discount on preferred stock		—			—			524
Proceeds from exercise of stock options		28			150			6
Net cash provided by (used in) financing activities		(2,607	)		82,744			(8,453	)
Net increase (decrease) in cash and due from banks		(4,563	)		2,530			(45,423	)
Cash and due from banks at beginning of year		8,763			6,233			51,656
Cash and due from banks at end of year	$	4,200		$	8,763		$	6,233
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid during the year for interest	$	1,363		$	742		$	1,766
Cash paid during the year for income taxes	$	—		$	—		$	—