Ameris Bancorp (NYSE:ABCB) Q2 2024 Earnings Conference Call July 26, 2024 9:00 AM ET

Company Participants

Nicole Stokes - Chief Financial Officer
Palmer Proctor - Chief Executive Officer
Doug Strange - Executive Vice President and Chief Risk Officer

Conference Call Participants

Catherine Mealo - KBW
Christopher Marinac - FIG Partners
Brandon King - Truist
Russell Gunther - Stephens
Manuel Navas - D.A. Davidson
David Feaster - Raymond James

Operator

Good day, and welcome to the Ameris Bancorp Second Quarter Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Nicole Stokes, Chief Financial Officer. Please go ahead.

Nicole Stokes

Thank you, Alan, and thank you to all who have joined our call today. During the call, we will be referencing the press release and the financial highlights that are available on the Investor Relations section of our website at amerisbank.com. I'm joined today by Palmer Proctor, our CEO; and Doug Strange, our Chief Credit Officer. Palmer will begin with some opening general comments, and then I will discuss the details of our financial results before we open up for Q&A.

Before we begin, I'll remind you that our comments may include forward-looking statements. These statements are subject to risks and uncertainties. The actual results could vary materially. We list some of the factors that might cause results to differ in our press release and in our SEC filings, which are available on our website. We do not assume any obligation to update any forward-looking statements as a result of new information, early developments or otherwise, except as required by law.

Also, during the call, we will discuss certain non-GAAP financial measures in reference to the company's performance. You can see our reconciliation of these measures and GAAP financial measures in the appendix to our presentation.

And with that, I'll turn it over to Palmer for opening comments.

Palmer Proctor

Thank you, Nicole. And good morning, everyone. I appreciate you taking the time to join our call today. I'm very pleased with the outstanding second quarter financial performance we reported yesterday as well as our strong year-to-date metrics.

I really want to highlight three major successes for the quarter. First, we grew deposits by $446 million or over 8% while reducing broker deposits at the same time.

Second, we grew earning assets by over 14%. And last but not least, we did all of this while expanding our margin. These three components are reflective of a franchise that continues to show discipline and focus on growing long-term shareholder value, our top-tier core profitability, the strength of our balance sheet and our strong Southeastern markets is really what sets us apart.