Ameris Bancorp
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 8, 2024
ABCB$82.94-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows for the N
Consolidated Statements of Cash Flows (unaudited)
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating Activities | ||
| Net income | $264,309 | $203,171 |
| Adjustments reconciling net income to net cash (used in) provided by operating activities: | ||
| Depreciation | 14,343 | 14,260 |
| Net losses on sale or disposal of premises and equipment | 31 | 97 |
| Provision for credit losses | 45,985 | 119,704 |
| Net write-downs and (gains) losses on sale of other real estate owned | (20) | (1,597) |
| Share-based compensation expense | 9,329 | 7,415 |
| Amortization of intangible assets | 13,009 | 13,819 |
| Amortization of operating lease right of use assets | 7,588 | 8,440 |
| Provision for deferred taxes | (23,459) | (13,382) |
| Net accretion of debt securities available-for-sale | (3,126) | (4,316) |
| Net accretion of debt securities held-to-maturity | (130) | (136) |
| Net amortization of other investments | 825 | 1,108 |
| Net (gain) loss on securities | (12,320) | 16 |
| Net amortization (accretion) of fair value marks on purchased loans | 1,063 | (1,361) |
| Net amortization on other borrowings | 206 | 774 |
| Amortization of subordinated deferrable interest debentures | 1,496 | 1,495 |
| Originations of mortgage loans held for sale | (3,237,612) | (2,818,898) |
| Payments received on mortgage loans held for sale | 12,720 | 11,806 |
| Proceeds from sales of mortgage loans held for sale | 2,980,551 | 2,802,956 |
| Net (gains) losses on mortgage loans held for sale | (43,062) | 4,447 |
| Originations of SBA loans | (5,823) | (24,252) |
| Proceeds from sales of SBA loans | 5,690 | 27,129 |
| Net gains on sale of SBA loans | (468) | (1,382) |
| Increase in cash surrender value of bank owned life insurance | (8,516) | (6,768) |
| Gain on bank owned life insurance proceeds | (1,464) | (486) |
| Gain on sale of mortgage servicing rights | (9,958) | — |
| Gain on debt redemption | (169) | (1,148) |
| Change attributable to other operating activities | 12,672 | 13,157 |
| Net cash provided by operating activities | 23,690 | 356,068 |
| Investing Activities | ||
| Purchases of debt securities available-for-sale | (423,932) | (500) |
| Purchases of debt securities held-to-maturity | (22,206) | (8,543) |
| Proceeds from maturities and paydowns of debt securities available-for-sale | 413,553 | 61,394 |
| Proceeds from sales of debt securities available-for-sale | — | 216 |
| Proceeds from maturities and paydowns of debt securities held-to-maturity | 2,628 | 1,684 |
| Net decrease in other investments | 19,390 | 4,911 |
| Net increase in loans | (815,879) | (400,486) |
| Purchases of premises and equipment | (9,120) | (11,680) |
| Proceeds from sale of premises and equipment | 250 | 42 |
| Proceeds from sales of other real estate owned | 7,503 | 8,756 |
| Proceeds from sale of mortgage servicing rights | 82,328 | — |
| Purchases of bank owned life insurance | (110,000) | — |
| Proceeds from bank owned life insurance | 55,059 | 1,890 |
| Net cash used in investing activities | (800,426) | (342,316) |
| (Continued) | ||
Consolidated Statements of Cash Flows (unaudited)
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Financing Activities | ||
| Net increase in deposits | $1,170,756 | $1,127,607 |
| Proceeds from other borrowings | 4,443,000 | 13,837,000 |
| Repayment of other borrowings | (4,606,177) | (14,502,809) |
| Proceeds from exercise of stock options | — | 476 |
| Dividends paid - common stock | (31,140) | (31,308) |
| Purchase of treasury shares | (7,851) | (17,077) |
| Net cash provided by financing activities | 968,588 | 413,889 |
| Net increase in cash and cash equivalents | 191,852 | 427,641 |
| Cash and cash equivalents at beginning of period | 1,167,304 | 1,118,132 |
| Cash and cash equivalents at end of period | $1,359,156 | $1,545,773 |
| Supplemental Disclosures of Cash Flow Information | ||
| Cash paid (received) during the period for: | ||
| Interest | $408,323 | $290,972 |
| Income taxes | 97,574 | 88,353 |
| Loans transferred to other real estate owned | 10,766 | 9,713 |
| Loans transferred from loans held for sale to loans held for investment | 15,957 | 8,806 |
| Right-of-use assets obtained in exchange for new operating lease liabilities | 2,470 | 2,678 |
| Change in unrealized loss on securities available-for-sale, net of tax | 20,215 | (14,311) |
| (Concluded) | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.