1971
2011
AMERIS BANCORP
2011 ANNUAL REPORT
Sound Financial Advice & Exceptional Service Since 1971
310 First Street, SE | PO Box 3668
Moultrie, GA 31776
(P)229.890.1111 | (F)229.890.2235
amerisbank.com
Mixed Sources: Produced
using sustainable methods with
materials from well-managed
forests, controlled sources or
recycled wood or fiber.
002CSN1125 Annual Report/10K Wrap
IN 2011, AMERIS BANK
CELEBRATED 40 YEARS OF
HELPING CUSTOMERS MANAGE AND
MAKE THE MOST OF THEIR MONEY.
AMERIS BANCORP 2011 ANNUAL REPORTIN 2011, AMERIS BANK CELEBRATED 40 YEARS OF HELPING CUSTOMERS MANAGE AND MAKE THE MOST OF THEIR MONEY.AMERIS BANCORP 2011 ANNUAL REPORTAMERIS BANCORP 2011 ANNUAL REPORT 1971
2011
AMERIS BANCORP
2011 ANNUAL REPORT
Sound Financial Advice & Exceptional Service Since 1971
310 First Street, SE | PO Box 3668
Moultrie, GA 31776
(P)229.890.1111 | (F)229.890.2235
amerisbank.com
Mixed Sources: Produced
using sustainable methods with
materials from well-managed
forests, controlled sources or
recycled wood or fiber.
002CSN1125 Annual Report/10K Wrap
IN 2011, AMERIS BANK
CELEBRATED 40 YEARS OF
HELPING CUSTOMERS MANAGE AND
MAKE THE MOST OF THEIR MONEY.
AMERIS BANCORP 2011 ANNUAL REPORTIN 2011, AMERIS BANK CELEBRATED 40 YEARS OF HELPING CUSTOMERS MANAGE AND MAKE THE MOST OF THEIR MONEY.AMERIS BANCORP 2011 ANNUAL REPORTAMERIS BANCORP 2011 ANNUAL REPORT Charlotte
Greenville
77
26
Columbia
95
Augusta
20
Atlanta
75
85
Macon
16
16
82
Albany
Tifton
65
20
Montgomery
Beaufort
Charleston
Savannah
Hilton Head
84
Mobile
Dothan
MOULTRIE
10
Tallahassee
Valdosta
Brunswick
Jacksonville
Panama City
Ameris Bank Retail Locations
Ameris Bank Mortgage Only Locations
Gainesville
75
Orlando
95
Tampa
LETTER FROM THE CEO
5
President and Chief Executive Offi cer,
Edwin W. Hortman, Jr., provides
an overview of Ameris Bancorp’s
achievements for the year and an
optimistic outlook regarding future
challenges.
FINANCIAL HIGHLIGHTS
9
Dennis J. Zember Jr., CPA, Ameris
Bancorp’s Executive Vice President and
Chief Financial Offi cer, provides a high-
level overview of the fi nancial condition of
Ameris Bancorp and Ameris Bank.
LEADERSHIP
RELATIONSHIP BANKING
COMMUNITY BOARDS
OF DIRECTORS
10
14
20
AMERIS BANK LOCATIONS
22
FORM 10-K
The 2011 Form 10-K provides a
comprehensive overview of Ameris
Bancorp’s fi nancial statements for the
fi scal year ended December 31, 2011.
You will fi nd the 2011 Form 10-K and
Common Stock and Dividend Information
in a separate book located in the back
pocket of this publication.
Regional President Harry Pittman and Retail
Leader Kelli Pylant discuss customer retention and
sales growth exhibited throughout their region,
which includes Alabama, west and central Georgia
and parts of northwestern Florida.
1970s
1971: American Banking Company,
Moultrie, GA incorporated
1971: American Banking Company
opened
1979: Acquired Toney Brothers Bank,
Doerun, GA from FDIC
1980s
1980: ABC Holding Company
incorporated
1985: Acquired Bank of Quitman,
Quitman and Troupeville, GA
1986: Acquired Farmers and
Merchants Bank, Coolidge
and Ochlocknee, GA
ABC Holding Company became
ABC Bancorp
Acquired Citizens Bank of Tifton,
Tifton, GA
1987: ABC Bancorp First Public
Stock Offering
6
DEAR SHAREHOLDERS:
DEAR SHAREHOLDERS:
DEAR SHAREHOLDERS:
DEAR SHAREHOLDERS:
In October 2011, our Company celebrated
its 40th anniversary! While we did not
celebrate in the typical fashion because
of the challenging economic environment
and the fact that many of our friends,
families and customers are rebuilding their
fi nances as we emerge from this economic
downturn, our Company’s fortitude is as
strong now as ever. Therefore, we chose
to commemorate this anniversary with our
“Helping Fight Hunger” initiative. As part
of this initiative, our employees led their
communities in events that resulted in the
donation of almost 158,000 food items and
over $120,000 in cash to local food banks
just in time for Thanksgiving. We made a
difference, and that has been our passion
for 40 years!
Financially, we have seen positive trends
across the board. Most apparent is the
Company’s return to profi tability in 2011.
Net income available to the Company’s
common shareholders in 2011 totaled
$17.9 million, or $0.76 per common
share. Total recurring revenue (excluding
gains associated with FDIC transactions)
increased substantially, by 19.6%, in 2011 as
we enjoyed higher levels of earning assets
compared with 2010. The Company’s net
interest margin increased to 4.57% as a
result of better deployment of short-term
assets, favorable yields on covered assets
and attractive funding costs. Additionally,
non-interest expense, when viewed on
a recurring basis against average assets,
improved during 2011 compared with prior
years. Knowing that our growth comes with
this improved effi ciency confi rms that our
bankers understand fi nite resources and
how best to deploy them.
Regarding our balance sheet, and
repeating what is stated elsewhere in our
annual report, it is notable that Ameris
Bancorp’s average assets have increased
for 20 consecutive years. Tangible common
equity has as well. In 2011, average
assets increased 19%, while tangible
common equity increased approximately
10%. Our historical growth rates are not
happenstance, but are instead driven by
two distinct factors. First is our willingness
to participate in the growth of our local
communities, thereby increasing our
customer base and market share. Second,
and just as important, is our willingness to
participate in the M&A arena. Having the
discipline to select the right opportunities
and the know-how to execute with
precision is vital and leads me to believe
that continued growth for our Company is
on the horizon.
It is hard to discuss our Company’s results
without mentioning the impact of FDIC-
assisted transactions. Including our most
recent transaction in February 2012, we
have completed nine acquisitions in just
over two years. Purchased assets in these
transactions, before our deleveraging
activities, total approximately $1.8 billion.
Leading the nation in number of deals
completed is notable, but the most
rewarding part has been watching our
Company develop the systems that rapidly
and reliably assimilate the new customers
majority of the funds will come from
regular earnings.
It goes without saying that the successes
discussed throughout this annual report are
made possible by the dedicated bankers
in our Company. I am more confi dent than
ever in our bankers’ abilities to meet the
coming challenges and to capture the
value presented in future opportunities.
Together, we have emerged from the
recent turmoil in our industry and built a
valuable Company through core customer
WE MADE A DIFFERENCE,
WE MADE A DIFFERENCE,
WE MADE A DIFFERENCE,
WE MADE A DIFFERENCE,
AND THAT HAS BEEN OUR
AND THAT HAS BEEN OUR
AND THAT HAS BEEN OUR
AND THAT HAS BEEN OUR
PASSION FOR FORTY YEARS.
PASSION FOR FORTY YEARS.
PASSION FOR FORTY YEARS.
PASSION FOR FORTY YEARS.
and employees into Ameris Bank and
introduce our community-banking culture
and style to our new markets. The offi cers
and staff that manage these strategies and
related assets are experts, and you can
have confi dence that our commitments
will be met and that further successes can
be achieved.
As with every business, we have our
challenges. Our most paramount challenge
is the continued reduction of problem
assets and their related costs. We have
seen regular improvements in credit quality
for some time, but enough work remains at
hand to stay focused. Additionally, we are
adjusting our credit culture, employing our
compiled list of credit “take-aways” from
this most recent credit cycle that would
have made a difference in our industry and
in Ameris Bank. These reminders will be
ingrained in each of us and help further
refi ne our roles as risk managers.
As we have stated in the past,
management of shareholders’ capital
is very important to us. In 2008, we
accepted $52 million from the U.S.
Treasury as part of its TARP capital
purchase program. Uncertainty about the
future led us to this decision, which has
provided a temporary, non-dilutive bridge
in our capital structure that protected
the common shareholder. We anticipate
that during 2012 we will begin repaying
this preferred capital in installments in a
manner that extinguishes it fully before
the November 2013 increase in its 5%
dividend rate. We continue to believe
that a capital raise will not be needed
to facilitate the repayment and that a
relationships and an increasingly reliable
earnings stream. We are blessed with
a very talented and focused team. Our
Community Boards of Directors are
engaged in local market strategies that
promote business development to retain
customers and grow the Bank. At the
same time, guidance and support from our
Corporate Board is evident throughout
the Company. The lifeblood of Ameris
Bank is providing exceptional experiences
to our customers and creating a positive
impact in our communities. It is a pleasure
to assemble and lead a team that strives to
exceed, not merely meet, these goals.
In closing, I would like to express thanks
to each of you for your support of our
Company in 2011. As I look forward, I am
excited about what the next few years
have in store for us. Our course is right
and steady, but it is not without need
for correction along the journey. Varying
business and economic conditions,
together with new ideas, technologies
and product offerings, necessitate that we
stay attentive and ready to fi ne tune our
operations and our strategies. Doing so will
allow us to continue delivering the results
that we all desire – and that you, our valued
shareholders, expect.
Respectfully,
Edwin W. Hortman, Jr.
President and Chief Executive Offi cer
5
WHAT BEGAN AS
WHAT BEGAN AS
WHAT BEGAN AS
WHAT BEGAN AS
AMERICAN BANKING COMPANY
AMERICAN BANKING COMPANY
AMERICAN BANKING COMPANY
AMERICAN BANKING COMPANY
IN MOULTRIE, GEORGIA
IN MOULTRIE, GEORGIA
IN MOULTRIE, GEORGIA
IN MOULTRIE, GEORGIA
IS NOW AMERIS BANK
IS NOW AMERIS BANK
IS NOW AMERIS BANK
IS NOW AMERIS BANK
WITH 67 LOCATIONS,
WITH 67 LOCATIONS,
WITH 67 LOCATIONS,
WITH 67 LOCATIONS,
832 EMPLOYEES AND OVER
832 EMPLOYEES AND OVER
832 EMPLOYEES AND OVER
832 EMPLOYEES AND OVER
THREE BILLION DOLLARS IN
THREE BILLION DOLLARS IN
THREE BILLION DOLLARS IN
THREE BILLION DOLLARS IN
PUBLICLY-TRADED ASSETS.
PUBLICLY-TRADED ASSETS.
PUBLICLY-TRADED ASSETS.
PUBLICLY-TRADED ASSETS.
6
1990s
1992: Acquired Cairo Banking
Company, Cairo and
Thomasville, GA
1996: Acquired Southland Bank,
Abbeville, Clayton, Dothan
Eufaula and Headland, AL
Acquired Central Bank & Trust,
Cordele, GA
Acquired First National Bank of
South GA, Albany, GA
Acquired Merchants & Farmers
Bank, Donalsonville, GA
1997: Acquired NationsBank Branch,
Douglas, GA
Acquired Bank of Ocilla,
Ocilla, GA
TOP LEFT: In the early 1990s, Kimberly Taylor,
now an Accounting Clerk in the Finance and
Accounting Department, helped customers
make a deposit at the Moultrie Quitman
Highway location.
BOTTOM LEFT: Pictured in the early 1970s,
the original Board of Directors that founded
American Banking Company.
TOP RIGHT: Ameris Bank’s 2006 expansion
into South Carolina led to the opening of
the Charleston West Ashley location in the
summer of 2008.
BOTTOM RIGHT: In 2010, Ameris Bank
launched the fi rst annual company-wide
Helping Fight Hunger initiative. In 2011,
over 157,800 non-perishable food items and
$121,148 in cash donations were collected
and donated to local food banks throughout
Ameris Bank’s four-state footprint. Employees
at the Cordele, GA location successfully
collected over 39,200 food items. This
collection, plus the Ameris Bank monetary
match of $29,570, was donated to Cordele’s
local food bank, Fishermen for the Hungry.
7
WE ATTRIBUTE
WE ATTRIBUTE
WE ATTRIBUTE
WE ATTRIBUTE
WE ATTRIBUTE
OUR SUCCESS TO
OUR SUCCESS TO
OUR SUCCESS TO
OUR SUCCESS TO
OUR SUCCESS TO
AN UNWAVERING
AN UNWAVERING
AN UNWAVERING
AN UNWAVERING
AN UNWAVERING
ADHERENCE TO
ADHERENCE TO
ADHERENCE TO
ADHERENCE TO
ADHERENCE TO
OUR CORE VALUES:
OUR CORE VALUES:
OUR CORE VALUES:
OUR CORE VALUES:
OUR CORE VALUES:
INTEGRITY
INTEGRITY
INTEGRITY
INTEGRITY
INTEGRITY
RESPECT
RESPECT
RESPECT
RESPECT
RESPECT
T E A M W O R K
T E A M W O R K
T E A M W O R K
T E A M W O R K
T E A M W O R K
HONESTY &
HONESTY &
HONESTY &
HONESTY &
HONESTY &
HIGH STANDARDS.
HIGH STANDARDS.
HIGH STANDARDS.
HIGH STANDARDS.
HIGH STANDARDS.
8
AMERIS BANCORP’S
AT THE END OF 2011, AMERIS BANCORP’S
AMERIS BANCORP’S
AT THE END OF 2011,
AT THE END OF 2011,
2.9 BILLION.
ASSETS TOTALED $2.9 BILLION.
2.9 BILLION.
ASSETS TOTALED $
ASSETS TOTALED $
CONSISTENT GROWTH
CONSISTENT GROWTH
For the past several years, our industry has been shrinking. Many banks have
For the past several years, our industry has been shrinking. Many banks have
been deleveraging their balance sheets for purposes of maintaining adequate
been deleveraging their balance sheets for purposes of maintaining adequate
capital ratios. Fortunately, we have been able to continue growing our total assets
capital ratios. Fortunately, we have been able to continue growing our total assets
through this cycle. When we consider prospects for the future, we recall that we
through this cycle. When we consider prospects for the future, we recall that we
have had 20 consecutive years of growth in average assets and compounded
have had 20 consecutive years of growth in average assets and compounded
growth of 15%. In 2011, we experienced a record pace of customer acquisition,
growth of 15%. In 2011, we experienced a record pace of customer acquisition,
seen mostly in our deposit base, providing improved market share in most of
seen mostly in our deposit base, providing improved market share in most of
our markets. Additionally, we continued our strategy of pursuing FDIC-assisted
our markets. Additionally, we continued our strategy of pursuing FDIC-assisted
acquisitions, successfully completing our seventh and eighth such transactions in
acquisitions, successfully completing our seventh and eighth such transactions in
the third quarter of 2011.
the third quarter of 2011.
TOTAL ASSETS
TOTAL ASSETS
(In thousands of dollars)
(In thousands of dollars)
2011
2011
2010
2010
2009
2009
2008
2008
2007
2007
$2,994,307
$2,994,307
$2,972,168
$2,972,168
$2,423,970
$2,423,970
$2,407,090
$2,407,090
$2,112,063
$2,112,063
STABLE CORE DEPOSITS
STABLE CORE DEPOSITS
One key measurement we track is the amount of our total funding that walks
One key measurement we track is the amount of our total funding that walks
through our front doors. At December 31, 2011, 97% of our total funding was
through our front doors. At December 31, 2011, 97% of our total funding was
from customers who live or work in our immediate communities and can transact
from customers who live or work in our immediate communities and can transact
business in our retail facilities. This level compares very favorably to our peer
business in our retail facilities. This level compares very favorably to our peer
group’s average of 83%. The stability evident in our funding base is directly
group’s average of 83%. The stability evident in our funding base is directly
correlated to our profitability and to the additional opportunities that can be
correlated to our profi tability and to the additional opportunities that can be
achieved from understanding the customer relationship. Our focus on core
achieved from understanding the customer relationship. Our focus on core
business has sales strategies focused squarely on transaction deposits where
business has sales strategies focused squarely on transaction deposits where
our relationship with the customer has significantly more permanence. Our
our relationship with the customer has signifi cantly more permanence. Our
compounded growth rate in non-interest bearing demand deposits is 25% over
compounded growth rate in non-interest bearing demand deposits is 25% over
the last five years, signaling that our efforts have been successful.
the last fi ve years, signaling that our efforts have been successful.
STRONG CAPITAL POSITION
STRONG CAPITAL POSITION
During 2011, tangible common equity increased $20.8 million, or 9.5%, to $238.8
During 2011, tangible common equity increased $20.8 million, or 9.5%, to $238.8
million. Similar to our growth in average assets, we have increased tangible
million. Similar to our growth in average assets, we have increased tangible
common equity every year for the past 20 years, resulting in a compounded
common equity every year for the past 20 years, resulting in a compounded
growth rate of 13.6%. Our capital strength and our capital growth rate give us
growth rate of 13.6%. Our capital strength and our capital growth rate give us
confidence in our ability to execute future offensive strategies or to develop
confi dence in our ability to execute future offensive strategies or to develop
new plans for value creation. Our driving passion is to be known as good
new plans for value creation. Our driving passion is to be known as good
stewards of the resources with which we have been entrusted, to be experts in
stewards of the resources with which we have been entrusted, to be experts in
our deployment of capital across our business in new and existing ventures and
our deployment of capital across our business in new and existing ventures and
to operate the business as owners. While these are not new ideas concerning
to operate the business as owners. While these are not new ideas concerning
shareholders’ equity, our enthusiasm for them has been piqued as the advantages
shareholders’ equity, our enthusiasm for them has been piqued as the advantages
of strong capital become more evident.
of strong capital become more evident.
DEPOSITS
DEPOSITS
(In thousands of dollars)
(In thousands of dollars)
2011
2011
2010
2010
2009
2009
2008
2008
2007
2007
$2,591,566
$2,591,566
$2,535,426
$2,535,426
$2,123,116
$2,123,116
$2,013,525
$2,013,525
$1,757,265
$1,757,265
TANGIBLE COMMON EQUITY
TANGIBLE COMMON EQUITY
(In thousands of dollars)
(In thousands of dollars)
2011
2011
2010
2010
2009
2009
2008
2008
2007
2007
$238,837
$238,837
$218,069
$218,069
$141,367
$141,367
$131,887
$131,887
$131,634
$131,634
2011 ABC Annual Report Inside Pages.indd 9
Greenville, SC Branch Manager Scott Timmons
Greenville, SC Branch Manager, Scott Timmons,
works with Head Teller Monica Austin as she
works with Head Teller, Monica Austin, as she
processes a deposit for Armando Cervantes,
processes a deposit for Armando Cervantes,
owner of Sr. Salsa on Woodruff Road in Greenville.
owner of Sr. Salsa on Woodruff Road in Greenville.
Mr. Cervantes looks to Ameris Bank for both
Mr. Cervantes looks to Ameris Bank for both his
his personal and business banking needs, and
personal and business-banking needs, and he
appreciates the all-inclusive banking relationship
appreciates the all-inclusive banking relationship
established over the past several years.
established over the past several years.
9
9
4/6/2012 1:49:30 PM
AMERIS BANCORP BOARD OF DIRECTORS (ABOVE)
FROM LEFT: R. Dale Ezzell, Wisecards Printing (Print Services); Robert P. Lynch, Lynch Management Company (Automobile Sales); Jimmy D. Veal, The Beachview Club (Hospitality);
Chairman Daniel B. Jeter, Standard Discount Corporation (Consumer Finance); Edwin W. Hortman, Jr., President and CEO, Ameris Bancorp; J. Raymond Fulp, Harvey’s
Pharmacy (Pharmacy); V. Wayne Williford, J.B. Coxwell Contracting Company (Heavy Highway Construction); Brooks Sheldon, Retired Banker
AMERIS BANCORP EXECUTIVE OFFICERS (RIGHT)
SEATED FROM LEFT: Andrew B. Cheney, Executive Vice President, Banking Group President and Chief Operating Offi cer; Edwin W. Hortman, Jr., President and Chief Executive Offi cer
STANDING: Jon S. Edwards, Executive Vice President and Chief Credit Offi cer; Stephen A. Melton, Executive Vice President and Chief Risk Offi cer; Dennis J. Zember Jr. CPA, Executive
Vice President and Chief Financial Offi cer; Cindi H. Lewis, Executive Vice President, Chief Administrative Offi cer and Corporate Secretary
10
WE RECOGNIZE THE CONTRAST
WE RECOGNIZE THE CONTRAST
WE RECOGNIZE THE CONTRAST
WE RECOGNIZE THE CONTRAST
BETWEEN TIME-TESTED VALUES
BETWEEN TIME-TESTED VALUES
BETWEEN TIME-TESTED VALUES
BETWEEN TIME-TESTED VALUES
AND SUCH BRISK PROGRESS,
AND SUCH BRISK PROGRESS,
AND SUCH BRISK PROGRESS,
AND SUCH BRISK PROGRESS,
AND WHILE WE’LL NEVER
AND WHILE WE’LL NEVER
AND WHILE WE’LL NEVER
AND WHILE WE’LL NEVER
FORGO OUR IDEALS, WE
FORGO OUR IDEALS, WE
FORGO OUR IDEALS, WE
FORGO OUR IDEALS, WE
EMBRACE HOW FAR WE HAVE
EMBRACE HOW FAR WE HAVE
EMBRACE HOW FAR WE HAVE
EMBRACE HOW FAR WE HAVE
COME AND THE GROWTH WE WILL
COME AND THE GROWTH WE WILL
COME AND THE GROWTH WE WILL
COME AND THE GROWTH WE WILL
EXPERIENCE.
EXPERIENCE.
CONTINUE TO EXPERIENCE.
CONTINUE TO EXPERIENCE.
CONTINUE TO
CONTINUE TO
2000s
2001: Acquired Tri-County Bank,
Trenton, FL
Acquired Republic Security
Branch, Newberry, FL
Acquired The First Bank of
Brunswick, Brunswick, Jekyll
Island, and St. Simons Island, GA
2002: Acquired Security Bank Branch,
Colquitt, GA
2004: Acquired Citizens Bank of
Wakulla, Crawfordville, Panacea
and Sopchoppy, FL
2005: ABC Bancorp rebrands
to Ameris Bancorp
Acquired First National Bank,
Kingsland and St. Marys, GA and
Orange Park, FL
2006: Acquired Islands Community
Bank, Beaufort, SC
Completed multi-charter collapse
Completed multi-charter collapse
to single charter and one brand
to single charter and one brand
– Ameris Bank
– Ameris Bank
2009: FDIC-assisted acquisition of
2009: FDIC-assisted acquisition of
American United Bank,
American United Bank,
Lawrenceville, GA
Lawrenceville, GA
FDIC-assisted acquisition of
FDIC-assisted acquisition of
American Security Bank, Sparta
American Security Bank, Sparta
and Woodstock, GA
and Woodstock, GA
11
2010s
2010: FDIC-assisted acquisition of
Satilla Community Bank,
St. Marys, GA
FDIC-assisted acquisition of First
Bank of Jacksonville,
Jacksonville, FL
FDIC-assisted acquisition of
Darby Bank & Trust, Lyons, Pooler,
Savannah and Vidalia, GA
FDIC-assisted acquisition of
Tifton Banking Company,
Tifton, GA
2011: FDIC-assisted acquisition of One
Georgia Bank, Atlanta, GA
FDIC-assisted acquisition of High
Trust Bank, Leary and
Stockbridge, GA
2012: FDIC-assisted acquisition of
Central Bank of Georgia, Buena
Vista, Butler, Cusseta, Ellaville and
Macon, GA
In 2005, Ameris Bank began centralization of
all banking operations, which resulted in the
creation of a large team of support departments.
Lonnie Carter, Information Systems Manager,
oversees the Company’s technology team,
while spearheading all system and technology
initiatives for the Company. For over ten
years, Susan Cosper has managed projects for
operations, and now leads the newly developed
Strategic Initiatives Team. This team, organized
in late 2011, was designed to leverage Ameris
Bank’s ability to timely implement new initiatives
and measure their fi nancial and operational
contributions.
RIGHT: The Company’s Mortgage Division
expanded in 2011 to include full-service, internal
mortgage lending. Although working from
various offi ces throughout Atlanta, GA, Tony
Jones, Senior Mortgage Production Manager, Joe
Hunter, Mortgage Branch Manager, Julie Humber,
Mortgage Operations Manager, and the leader
of the entire Mortgage Division, Robert Odom,
Mortgage Banking Executive, meet outside the
Ameris Bank location in Midtown Atlanta.
12
MUCH HAS CHANGED IN 40 YEARS, BUT EVEN MORE
MUCH HAS CHANGED IN 40 YEARS, BUT EVEN MORE
MUCH HAS CHANGED IN 40 YEARS, BUT EVEN MORE
MUCH HAS CHANGED IN 40 YEARS, BUT EVEN MORE
HAS STAYED THE SAME. REGARDLESS OF OUR
HAS STAYED THE SAME. REGARDLESS OF OUR
HAS STAYED THE SAME. REGARDLESS OF OUR
HAS STAYED THE SAME. REGARDLESS OF OUR
EXPANSION AND GROWTH, AMERIS BANK WILL ALWAYS
EXPANSION AND GROWTH, AMERIS BANK WILL ALWAYS
EXPANSION AND GROWTH, AMERIS BANK WILL ALWAYS
EXPANSION AND GROWTH, AMERIS BANK WILL ALWAYS
STAY TRUE TO OUR ROOTS: THE LOCAL DECISION
STAY TRUE TO OUR ROOTS: THE LOCAL DECISION
STAY TRUE TO OUR ROOTS: THE LOCAL DECISION
STAY TRUE TO OUR ROOTS: THE LOCAL DECISION
MAKING AND EMPHASIS ON AN EXCEPTIONAL
MAKING AND EMPHASIS ON AN EXCEPTIONAL
MAKING AND EMPHASIS ON AN EXCEPTIONAL
MAKING AND EMPHASIS ON AN EXCEPTIONAL
CUSTOMER EXPERIENCE THAT STARTED IT ALL.
CUSTOMER EXPERIENCE THAT STARTED IT ALL.
CUSTOMER EXPERIENCE THAT STARTED IT ALL.
CUSTOMER EXPERIENCE THAT STARTED IT ALL.
13
14
AMERIS BANK IS
AMERIS BANK IS
AMERIS BANK IS
COMMITTED TO GOING
COMMITTED TO GOING
COMMITTED TO GOING
BEYOND TRADITIONAL
BEYOND TRADITIONAL
BEYOND TRADITIONAL
BANKING TO DEVELOP
BANKING TO DEVELOP
BANKING TO DEVELOP
RELATIONSHIPS
RELATIONSHIPS
RELATIONSHIPS
AND FOSTER GROWTH.
AND FOSTER GROWTH.
AND FOSTER GROWTH.
The Girl Scouts focus on helping girls develop their leadership skills and talents.
Jacksonville Business Banker Chris Bouton fi rst met Lynette Beitz, Chief Financial Offi cer
for Girl Scouts of Gateway Council, almost fi ve years ago. It was then she fi rst helped
fi nance the North Fork Leadership Center, a 250-acre eco-friendly outdoor education
center owned and operated by the Girl Scouts of Gateway Council. Five years later, Chris
continues to offer practical and cost-effective lending and banking solutions, providing
the Council the ability to further reinvest in girls and their communities. Chris and other
Ameris Bank Bankers volunteer and support events hosted by the Council, leading to the
further development of banking relationships with numerous Girl Scout troops within the
16 counties in North Florida that comprise the Girl Scouts of Gateway Council.
Chief Financial Offi cer for Girl Scouts of
Gateway Council, Lynette Beitz, and Business
Banker Chris Bouton are on the grounds of
the North Fork Leadership Center, in Clay
County, Florida.
15
After surviving a train ride to Valdosta, GA because of a ruptured
appendix, Mr. Maxwell’s mother gave birth to a healthy boy
and named him after the doctor, Dr. Holmes, who saved her
life. As a child he wanted to become a doctor, but because of
the challenges his family faced during the Great Depression,
he decided to stay in Cairo and farm his family’s land. Four
generations later, Mr. Maxwell’s family continues to actively farm
and maintain this land, harvesting beans, corn and peanuts
each year. In the 1920s, Mr. Holmes regularly brought bream fish
to current Market President Philip Hester’s grandfather, Henry
Hester, who was then the president of Cairo Banking Company.
This gift was the start of a banking relationship that is now over
90 years old. To date, Philip Hester, Linda Bell, and the entire
Ameris Bank team continue to cultivate this personal banking
relationship with Mr. Maxwell and his family. What once started
this long-lasting relationship carries on - Mr. Maxwell’s 90 year-
old “little” brother, Leonard Maxwell, continues the tradition of
bringing gifts of food, when he shares cane syrup and vegetables
with his Ameris Bank family.
16
ERIS BANK BANKERS IN
ERIS BANK BANKERS IN
AMAMAMERIS BANK BANKERS IN
CAIRO, GEORGIA FOSTER A
CAIRO, GEORGIA FOSTER A
CAIRO, GEORGIA FOSTER A
CAIRO, GEORGIA FOSTER A
CAIRO, GEORGIA FOSTER A
CAIRO, GEORGIA FOSTER A
CAIRO, GEORGIA FOSTER A
CAIRO, GEORGIA FOSTER A
CAIRO, GEORGIA FOSTER A
CAIRO, GEORGIA FOSTER A
CAIRO, GEORGIA FOSTER A
CAIRO, GEORGIA FOSTER A
CAIRO, GEORGIA FOSTER A
R EL AT IO NS HIP
R EL AT IO NS HIP
R EL AT IO NS HIP
R EL AT IO NS HIP
R EL AT IO NS HIP
R EL AT IO NS HIP
R EL AT IO NS HIP
R EL AT IO NS HIP
THAT STARTED WITH MR. HOLMES
THAT STARTED WITH MR. HOLMES
THAT STARTED WITH MR. HOLMES
MAXWELL OVER 90 YEARS AGO.
MAXWELL OVER 90 YEARS AGO.
MAXWELL OVER 90 YEARS AGO.
On family land that has been farmed since
the early 1900s, Cairo Market President
Philip Hester and Consumer Banker Linda
Bell are pictured with four generations of
the Maxwell family, right to left: Mr. Holmes
Maxwell, his daughter and son-in-law
Annette and Frank Lodge, great-grandson
Jacob Newberry and grandson Jason Lodge.
17
FOURTEEN YEARS AND COUNTING –
FOURTEEN YEARS AND COUNTING –
FOURTEEN YEARS AND COUNTING –
FOURTEEN YEARS AND COUNTING –
TALLAHASSEE BANKERS CONTINUE
TALLAHASSEE BANKERS CONTINUE
TALLAHASSEE BANKERS CONTINUE
TALLAHASSEE BANKERS CONTINUE
TO GROW A RELATIONSHIP
TO GROW A RELATIONSHIP
TO GROW A RELATIONSHIP
TO GROW A RELATIONSHIP
FOUNDED ON RESPECT,
FOUNDED ON RESPECT,
FOUNDED ON RESPECT,
FOUNDED ON RESPECT,
TRUST AND DEPENDABILITY.
TRUST AND DEPENDABILITY.
TRUST AND DEPENDABILITY.
TRUST AND DEPENDABILITY.
Women’s Basketball Coach, Sue Semrau, is a three-time winner of the ACC Coach of the Year Award and holds the record for having the
most women’s basketball wins in Florida State University history. Coach Semrau focuses on the game knowing her fi nances are being
managed by her dedicated team of bankers. For over 14 years, Tallahassee Market President Marty Stubblefi eld and Branch Manager
Sheliah Young have served as Coach Semrau’s relationship bankers. This relationship extends even further – Ameris Bank offers a series of
Financial Coaching classes to Coach Semrau’s student athletes. Coach Sue keeps her team in the national rankings by leading her players
to victory, and she recognizes the importance of a partnership with Ameris Bank that fosters the personal and professional growth of
student athletes.
18
Women’s Basketball Coach, Sue Semrau,
pictured with Tallahassee Market President
Marty Stubblefi eld and Branch Manager
Sheliah Young.
19
COMMUNITY BOARDS OF DIRECTORS
COMMUNITY BOARDS OF DIRECTORS
COMMUNITY BOARDS OF DIRECTORS
COMMUNITY BOARDS OF DIRECTORS
Albany & Cordele, GA
Calvin (Cal) L. McMillan,
Market President
Donalsonville
& Colquitt, GA
Nancy S. Jernigan,
Market President
Directors:
Reid E. Mills, Chairman
Lawton E. Bassett, III
Regional President
Gregory R. Garland
Calvin (Cal) L. McMillan
Y. Duncan Moore, Jr.
J. Austin Turner
James (Jimmy) L. Webb
Director Emeritus:
W. Thomas Mitcham, MD
Brunswick, GA
Michael (Mike) D. Hodges,
Market President
Directors:
Jimmy D. Veal, Chairman
Michael (Mike) D. Hodges
G. Tony Sammons
Thomas I. Sublett
Mark D. Walker,
Regional President
Directors Emeritus:
C. Ray Acosta
J. Thomas Whelchel
Cairo, GA
J. Philip Hester,
Market President
Directors:
Jeffrey (Jet) F. Cox, Chairman
Kevin S. Cauley
Cuy Harrell, III
J. Philip Hester
Harris (Harry) O. Pittman, III,
Regional President
G. Ashley Register, MD
Directors:
N. Ed King, Jr., Chairman
D. Glenn Heard
Nancy S. Jernigan
Kenneth R. Massey
Harris (Harry) O. Pittman, III,
Regional President
Dan E. Ponder, Jr.
Danny S. Shepard
Directors Emeritus:
H. Wayne Carr
John B. Clarke, Sr.
Joseph S. Hall
Jerry G. Mitchell
Dothan, AL
Harris (Harry) O. Pittman, III,
Regional President
Directors:
R. Dale Ezzell, Chairman
Robert Crowder
Ronald (Ronnie) E. Dean
John D. DeLoach
C. Phillip Hayes
Harris (Harry) O. Pittman, III
Alan Wells
Douglas, GA
David B. Batchelor,
Market President
Directors:
Donnie H. Smith, Chairman
Lawton E. Bassett, III,
Regional President
David B. Batchelor
J. Anthony Deal
Faye Hennesy
Alfred Lott, Jr.
Oscar Street
Jacksonville, FL
Mark D. Walker,
Regional President
Directors:
V. Wayne Williford, Chairman
Robert (Rob) M. Bradley, Jr.
Vasant P. Bhide
Phillip H. Cury
Joseph P. Helow
Mark D. Walker
J. Charles Wilson, CPA
Moultrie, GA
Ronnie F. Marchant,
Market President
Directors:
Brooks Sheldon, Chairman
Lawton E. Bassett, III,
Regional President
Robert M. Brown, MD
Thomas L. Estes, MD
Robert (Robbie) A. Faircloth
R. Plenn Hunnicutt
Daniel (Dan) B. Jeter
Lynn (Lyndy) Jones, Jr.
Ronnie F. Marchant
J. Mark Mobley, Jr.
Thomas (Tommy) W. Rowell
Ocilla, GA
Directors:
Gary H. Paulk, Chairman
Lawton E. Bassett, III,
Regional President
Howard C. McMahan, MD
Wesley T. Paulk
Jake Walters
Directors Emeritus:
Wycliffe Griffi n
Daniel (Danny) M. Paulk
Loran (Sonny) A. Pate
20
COMMUNITY BOARDS OF DIRECTORS
COMMUNITY BOARDS OF DIRECTORS
COMMUNITY BOARDS OF DIRECTORS
COMMUNITY BOARDS OF DIRECTORS
Trenton, FL
Michael E. McElroy,
Market President
Directors:
Doug Crawford
Adra B. Kennard
Michael E. McElroy
Mark D. Walker,
Regional President
Valdosta, GA
Michael T. Lee,
Market President
Directors:
Charles (Chuck) E. Smith,
Chairman
Lawton E. Bassett, III,
Regional President
Michael T. Lee
Bart T. Mizell
T. Eddie York
Directors Emeritus:
Doyle Weltzbarker
Henry C. Wortman
South Carolina
H. Richard Sturm,
Regional President
Thomasville, GA
Ronnie F. Marchant,
Market President
Directors:
L. Maurice Chastain, Chairman
Dale E. Aldridge
Lawton E. Bassett, III,
Regional President
S. Mark Brewer, MD
H. Eugene (Gene) Hickey
Ronnie F. Marchant
Terrel M. Solana, Ed.D.
Tifton, GA
Charles T. (Tommy) Bargeron, III,
Market President
Directors:
J. Raymond Fulp, Chairman
Charles T. (Tommy) Bargeron, III
Lawton E. Bassett, III,
Regional President
Austin (Butch) L. Coarsey
Stewart D. Gilbert, MD
John Alan Lindsey
Fortson B. Turner
Clifford (Buddy) A.
Walker, Sr., DMD
Directors:
William (Bill) H. Stern,
Chairman
Martha B. Fender
Kirkman Finlay, III
Darryl W. Gardner
Sam W. Jones, Jr.
John A. Sowards
Whitmarsh (Whit) S. Smith, III
H. Richard Sturm
St. Marys, GA
Michael (Mike) D. Hodges,
Market President
Directors:
Thomas (Tom) I. Stafford, Jr.,
Chairman
Michael (Mike) L. Davis
Michael (Mike) D. Hodges
Stephen V. Kinney
John W. McDill
Mark D. Walker,
Regional President
Director Emeritus:
J. Grover Henderson
Tallahassee, FL
J. Martin (Marty) Stubblefi eld,
Market President
Directors:
Wade G. Brown
Harris (Harry) O. Pittman, III,
Regional President
J. Martin (Marty) Stubblefi eld
21
AMERIS BANK LOCATIONS
AMERIS BANK LOCATIONS
AMERIS BANK LOCATIONS
AMERIS BANK LOCATIONS
AMERIS BANK LOCATIONS
ALABAMA
Abbeville .............................. 334.585.2265
Clayton ................................. 334.775.3211
Dothan - Ross Clark Cir. ....... 334.671.4000
Dothan - Hwy. 84 E ............... 334.677.3063
Eufaula ................................... 334.687.3260
Headland ............................... 334.693.5411
FLORIDA
Crawfordville ......................... 850.926.5211
Fleming Island ....................... 904.264.8840
Jacksonville - Lane Ave. ....... 904.786.8224
Jacksonville - Mandarin ........ 904.262.1000
Jacksonville - Town Ctr. ........ 904.996.9490
Newberry ............................... 352.472.2162
Orange Park .......................... 904.213.0883
Tallahassee ............................ 850.656.2110
Tallahassee (Mortgage) ........ 850.383.9999
Trenton .................................. 352.463.7171
GEORGIA
Albany .................................... 229.888.5600
Atlanta - Midtown ................. 404.522.2265
Brunswick - Cypress Mill. ...... 912.267.9500
Brunswick - North Glynn ...... 912.264.9699
Buena Vista ............................ 229.649.4600
Butler ..................................... 478.862.3062
Cairo - S. Broad St. ............... 229.377.1110
Cairo Drive Thru - Hwy. 84 E 229.377.1110
Colquitt .................................. 229.758.3461
Cordele - 2nd St. S ............... 229.273.7700
Cordele Drive Thru - 16th Ave. E
................................................ 229.273.7700
Cusseta .................................. 706.989.0110
Doerun ................................... 229.782.5358
Donalsonville ......................... 229.524.2112
Douglas - S Pearl Ave. .......... 912.384.2701
Douglas - Bowens Mills Rd. . 912.384.2701
Ellaville ................................... 229.937.2507
Jekyll Island ........................... 912.635.9014
Kingsland ............................... 912.729.8878
Leary ...................................... 229.792.6124
Leesburg ................................ 229.434.4550
Lyons ...................................... 912.526.7007
Macon .................................... 478.757.2900
Marietta (Mortgage) ............. 770.578.3609
Moultrie - S Main St. ............. 229.985.2222
Moultrie - 1st Ave. SE ........... 229.985.1111
Moultrie - Sunset .................. 229.873.4444
Ocilla ...................................... 229.468.9411
Pooler .................................... 912.748.6002
Quitman ................................. 229.263.7525
Savannah - DeSoto ............... 912.238.1699
Savannah - Mall Blvd. ........... 912.355.5052
Savannah - Whitemarsh ....... 912.898.2151
Sparta..................................... 706.444.6572
St. Marys ................................ 912.882.3400
St. Simons Island ................... 912.634.1270
Stockbridge ........................... 770.692.2440
Stockbridge (Mortgage) ....... 678.300.1438
Thomasville ........................... 229.226.5755
Tifton - Old Ocilla Rd. .......... 229.387.7225
Tifton - W 2nd St. .................. 229.382.7311
Valdosta ................................. 229.241.2851
Vidalia - E. First St. ................ 912.537.8813
Vidalia - Maple Dr. ................ 912.537.7139
Woodstock ............................ 770.592.6292
SOUTH CAROLINA
Beaufort ................................. 843.521.1968
Columbia ............................... 803.765.1600
Charleston ............................. 843.573.8000
Charleston Drive Thru - Magnolia Dr.
................................................ 843.573.8000
Greenville .............................. 864.286.5737
Hilton Head ........................... 843.686.2903
Irmo ........................................ 803.749.5230
Lexington............................... 803.808.4220
Mt. Pleasant........................... 843.375.4969
Summerville ........................... 843.875.2663
22
Charlotte
Greenville
77
26
65
75
Atlanta
Augusta
20
Columbia
95
85
Macon
Montgomery
16
16
Beaufort
Charleston
Savannah
Hilton Head
82
Albany
Tifton
Dothan
MOULTRIE
10
Tallahassee
Valdosta
Brunswick
Jacksonville
Panama City
20
84
Mobile
Ameris Bank Retail Locations
Ameris Bank Mortgage Only Locations
Gainesville
75
Orlando
95
Tampa
1971
2011
AMERIS BANCORP
2011 ANNUAL REPORT
Sound Financial Advice & Exceptional Service Since 1971
310 First Street, SE | PO Box 3668
Moultrie, GA 31776
(P)229.890.1111 | (F)229.890.2235
amerisbank.com
Mixed Sources: Produced
using sustainable methods with
materials from well-managed
forests, controlled sources or
recycled wood or fiber.
002CSN1125 Annual Report/10K Wrap
IN 2011, AMERIS BANK
CELEBRATED 40 YEARS OF
HELPING CUSTOMERS MANAGE AND
MAKE THE MOST OF THEIR MONEY.
AMERIS BANCORP 2011 ANNUAL REPORTIN 2011, AMERIS BANK CELEBRATED 40 YEARS OF HELPING CUSTOMERS MANAGE AND MAKE THE MOST OF THEIR MONEY.AMERIS BANCORP 2011 ANNUAL REPORTAMERIS BANCORP 2011 ANNUAL REPORT