Business Combinations (Tables)

3 Months Ended

Mar. 31, 2015

Rollforward of Acquired Non-Covered Loans

A rollforward of purchased non-covered loans for the three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2014 is shown below:

(Dollars in Thousands)	March 31, 2015			December 31, 2014			March 31, 2014
Balance, January 1	$	674,239		$	448,753		$	448,753
Charge-offs, net of recoveries		(244	)		(84	)		—
Additions due to acquisitions		—			279,441			—
Accretion		3,111			9,745			1,023
Transfers to purchased non-covered other real estate owned		(1,094	)		(4,160	)		(68	)
Transfer from covered loans due to loss-share expiration		—			15,475			—
Payments received		(32,920	)		(74,931	)		(12,439	)
Ending balance	$	643,092		$	674,239		$	437,269

Schedule of Changes in Accretable Discounts Related Acquired Loans

The following is a summary of changes in the accretable discounts of acquired loans during the three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2014:

(Dollars in Thousands)	March 31, 2015			December 31, 2014			March 31, 2014
Balance, January 1	$	15,578		$	25,493		$	25,493
Accretion		(4,466	)		(22,188	)		(9,767	)
Transfers between non-accretable and accretable discounts, net		1,853			12,273			365
Ending balance	$	12,965		$	15,578		$	16,091

Coastal Bankshares, Inc. [Member]

Estimated Fair Value of Assets Acquired and Liabilities Assumed

The following table presents the assets acquired and liabilities of Coastal assumed as of June 30, 2014 and their fair value estimates:

(Dollars in Thousands)	As Recorded by Coastal			Initial Fair Value Adjustments			Subsequent Fair Value Adjustments			As Recorded by Ameris
Assets
Cash and cash equivalents	$	3,895		$	—		$	—		$	3,895
Federal funds sold and interest-bearing balances		15,923			—			—			15,923
Investment securities		67,266			(500	)(a)		—			66,766
Other investments		975			—			—			975
Mortgage loans held for sale		7,288			—			—			7,288
Loans		296,141			(16,700	)(b)		—			279,441
Less allowance for loan losses		(3,218	)		3,218	(c)		—			—
Loans, net		292,923			(13,482	)		—			279,441
Other real estate owned		14,992			(3,528	)(d)		(2,600	)(g)		8,864
Premises and equipment		11,882			—			—			11,882
Intangible assets		507			4,266	(e)		(231	)(h)		4,542
Cash value of bank owned life insurance		7,812			—			—			7,812
Other assets		14,898			—			(752	)(i)		14,146
Total assets	$	438,361		$	(13,244	)	$	(3,583	)	$	421,534
Liabilities
Deposits:
Noninterest-bearing	$	80,012		$	—		$	—		$	80,012
Interest-bearing		289,012			—			—			289,012
Total deposits		369,024			—			—			369,024
Federal funds purchased and securities sold under agreements to repurchase		5,428			—			—			5,428
Other borrowings		22,005			—			—			22,005
Other liabilities		6,192			—			—			6,192
Subordinated deferrable interest debentures		15,465			(6,413	)(f)		—			9,052
Total liabilities		418,114			(6,413	)		—			411,701
Net identifiable assets acquired over (under) liabilities assumed		20,247			(6,831	)		(3,583	)		9,833
Goodwill		—			23,854			3,583			27,437
Net assets acquired over (under) liabilities assumed	$	20,247		$	17,023		$	—		$	37,270
Consideration:
Ameris Bancorp common shares issued		1,598,998
Purchase price per share of the Company’s common stock	$	21.56
Company common stock issued		34,474
Cash exchanged for shares		2,796
Fair value of total consideration transferred	$	37,270

Explanation of fair value adjustments

(a) Adjustment reflects the fair value adjustments of the available for sale portfolio as of the acquisition date.

(b) Adjustment reflects the fair value adjustments based on the Company’s evaluation of the acquired loan portfolio.

(c) Adjustment reflects the elimination of Coastal’s allowance for loan losses.

(d) Adjustment reflects the fair value adjustment based on the Company’s evaluation of the acquired OREO portfolio.

(e) Adjustment reflects the recording of core deposit intangible on the acquired core deposit accounts.

(f) Adjustment reflects the fair value adjustment to the subordinated deferrable interest debentures at the acquisition date.

(g) Adjustment reflects the additional fair value adjustment based on the Company’s evaluation of the acquired OREO portfolio.

(h) Adjustment reflects final recording of core deposit intangible on the acquired core deposit accounts.

(i) Adjustment reflects the deferred taxes on the difference in the carrying values of acquired assets and assumed liabilities for financial reporting purposes and their basis for federal income tax purposes.

Pro Forma Information of Acquisitions

The following unaudited pro forma information reflects the Company’s estimated consolidated results of operations as if the acquisition had occurred on January 1, 2014, unadjusted for potential cost savings (in thousands).

	Three Months Ended March 31, 2014
Net interest income and noninterest income	$	52,590
Net income	$	9,052
Net income available to common stockholders	$	8,766
Income per common share available to common stockholders – basic	$	0.33
Income per common share available to common stockholders – diluted	$	0.32
Average number of shares outstanding, basic		26,743
Average number of shares outstanding, diluted		27,172

Summary of Contractually Required Principal and Interest Cash Payment of the Loans As of Acquisition Date for Purchased Credit Impaired Loans

The table below summarizes the total contractually required principal and interest cash payment, management’s estimate of expected total cash payments and fair value of the loans as of acquisition date for purchased credit impaired loans. Contractually required principal and interest payment have been adjusted for estimated prepayments.

Contractually required principal and interest	$	38,194
Non-accretable difference		(5,632	)
Cash flows expected to be collected		32,562
Accretable yield		(3,282	)
Total purchased credit-impaired loans acquired	$	29,280

Discount Accretion [Member]

Schedule of Changes in Accretable Discounts Related Acquired Loans

The following is a summary of changes in the accretable discounts of purchased non-covered loans during the three months ended March 31, 2015, the year ended December 31, 2014 and the three months ended March 31, 2014:

(Dollars in Thousands)	March 31, 2015			December 31, 2014			March 31, 2014
Balance, January 1	$	25,716		$	26,189		$	26,189
Additions due to acquisitions		—			7,799			—
Accretion		(3,111	)		(9,745	)		(1,023	)
Transfers between non-accretable and accretable discounts, net		(2,376	)		1,473			2,680
Ending balance	$	20,229		$	25,716		$	27,846