Ameris Bancorp (ABCB) 2023 Q4 法說會逐字稿

Good day and welcome to the Ameris Bancorp fourth-quarter conference call. (Operator Instructions)

美好的一天，歡迎參加 Ameris Bancorp 第四季電話會議。（操作員說明）

Please note this event is being recorded.

請注意此事件正在被記錄。

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

我現在將會議交給財務長 Nicole Stokes 女士。請繼續，女士。

Thank you, Chuck, 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.

謝謝你，查克，也謝謝所有今天加入我們電話會議的人。在電話會議期間，我們將參考我們網站 amerisbank.com 投資者關係部分提供的新聞稿和財務摘要。

I'm joined today by Palmer Proctor, our CEO; Jon Edwards, our Chief Credit Officer; and Doug Strange, our Managing Director of Credit, who will be taking over for Jon when he retires at the end of this quarter. Palmer will begin today with some general opening comments, and then I will begin by discussing the details of our financial results before we open up for Q&A.

今天我們的執行長 Palmer Proctor 也加入了我的行列。喬恩‧愛德華茲 (Jon Edwards)，我們的首席信貸官；我們的信貸董事總經理道格·斯特蘭奇 (Doug Strange) 將在喬恩於本季末退休時接替他。帕爾默今天將首先發表一些一般性的開場評論，然後在我們開始問答之前，我將首先討論我們財務表現的細節。

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.

在我們開始之前，我要提醒您，我們的評論可能包含前瞻性陳述。這些陳述存在風險和不確定性。實際結果可能會大不相同。我們在新聞稿和 SEC 文件中列出了一些可能導致結果不同的因素，這些文件可在我們的網站上找到。

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.

我們不承擔因新資訊、早期發展或其他原因而更新任何前瞻性聲明的義務，除非法律要求。

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

此外，在電話會議期間，我們也將參考公司績效討論某些非公認會計準則財務指標。您可以在我們簡報的附錄中看到這些指標與 GAAP 財務指標的對照表。

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

至此，我將把它交給帕爾默來徵求意見。

Thank you, Nicole, and good morning, everyone. I appreciate you taking the time to join our call today. I'm very pleased with the financial results we reported yesterday, and I'm excited to be able to share some of the highlights in our overall strategic view for 2024 before Nicole gets into some of the financial details.

謝謝你，妮可，大家早安。感謝您今天抽空參加我們的電話會議。我對我們昨天報告的財務表現感到非常滿意，我很高興能夠在 Nicole 介紹一些財務細節之前分享我們 2024 年總體戰略觀點中的一些亮點。

2023 was certainly a year of discipline and resilience for our company and the fourth quarter was a solid close to our plan. Throughout the year, we focused on strengthening the balance sheet to prepare ourselves for 2024 with a healthy margin, strong capital, and increase reserves.

對我們公司來說，2023 年無疑是紀律嚴明、韌性十足的一年，第四季已基本接近我們的計畫。全年，我們專注於強化資產負債表，以健康的利潤率、雄厚的資本和增加的儲備為 2024 年做好準備。

We grew deposits this year by over 6% and then controlled loan growth, 2%, improving our loan to deposit ratio to 98%, all while maintaining an above-peer net interest margin of 3.61% for the year.

今年我們的存款成長超過 6%，然後控制貸款成長 2%，貸存比提高到 98%，同時全年淨利差維持在 3.61% 的高於同業的水平。

During the fourth quarter, we recorded $23 million provision for credit losses, bringing our year-to-date provision expense to over $142 million. And that improves our coverage ratio up to 1.52% of loans and 365% of portfolio NPAs. And once again, this provisioning was model driven and not related to any credit deterioration.

第四季度，我們記錄了 2,300 萬美元的信貸損失撥備，使我們年初至今的撥備支出超過 1.42 億美元。這將我們的貸款覆蓋率提高至 1.52%，不良資產組合覆蓋率提高至 365%。再次強調，這種撥備是由模型驅動的，與任何信用惡化無關。

We built and preserved capital this year such that our TCE ratio is well over our stated goal of 9%. And we also grew tangible book value by over 12% this year. So as we move into 2024, a lot of the confidence we have is based on several factors.

今年我們建立並保存了資本，使我們的 TCE 比率遠遠超過了我們 9% 的既定目標。今年我們的有形帳面價值也成長了 12% 以上。因此，當我們進入 2024 年時，我們的信心很大程度上是基於幾個因素。

First, we have and will continue to fight to protect our margin, and we're starting the year from a position of strength there fortunately. We also have, as you know, a very granular deposit base, very sticky deposit base and then when you combine that with a well-capitalized balance sheet and a healthy allowance.

首先，我們已經並將繼續努力保護我們的利潤，幸運的是，我們從今年開始就處於強勢地位。如您所知，我們還擁有非常細化的存款基礎、非常黏性的存款基礎，然後將其與資本充足的資產負債表和健康的津貼結合。

And obviously, as we've proven a culture of expense control, we also have a diversified revenue stream that generates above-peer PPNR ROA. And last but not least, what gives us a lot of comfort, too, is just knowing that we have established individuals and a lot of the top growth markets throughout the Southeast. So when it's appropriate to accelerate growth, we can do so.

顯然，正如我們已經證明的費用控製文化一樣，我們也擁有多元化的收入來源，可以產生高於同業的 PPNR ROA。最後但並非最不重要的一點是，讓我們感到非常安慰的是，我們知道我們已經在整個東南部建立了個人和許多頂級成長市場。因此，當適合加速成長時，我們就可以這樣做。

So a lot of those are the main things that give us a lot of positive outlook as we look through the remainder of this year.

因此，當我們展望今年剩餘時間時，其中許多都是為我們帶來許多積極前景的主要因素。

But with that, I'll turn it over to Nicole now to discuss our financial results in more detail.

但現在我將把它交給妮可，更詳細地討論我們的財務表現。

Great. Thank you, Palmer. So for the fourth quarter, we're reporting net income of $65.9 million or $0.96 per diluted share. On an adjusted basis, that's $73.6 million or $1.7 per diluted share. That brings our adjusted return on assets for the quarter to 1.15% and our adjusted return on tangible common equity as of 12.81%.

偉大的。謝謝你，帕爾默。因此，我們報告的第四季淨利潤為 6,590 萬美元，即稀釋後每股收益 0.96 美元。調整後的價格為 7,360 萬美元，即稀釋後每股 1.7 美元。這使得本季調整後的資產報酬率達到 1.15%，調整後的有形普通股報酬率達到 12.81%。

For the full year, we're reporting net income of $269.1 million or $3.89 per diluted share. On an adjusted basis, we earned $276.3 million or $4 per diluted share. That brings our full-year adjusted ROA to 1.09% and our full-year adjusted ROTCE to 12.55%. Excluding the FDIC special assessments, our PPNR ROA was just over 2% coming in right at 2.01%.

我們報告的全年淨利潤為 2.691 億美元，即稀釋後每股收益 3.89 美元。在調整後的基礎上，我們賺了 2.763 億美元，即稀釋後每股收益 4 美元。這使得我們全年調整後的 ROA 達到 1.09%，全年調整後的 ROTCE 達到 12.55%。不包括 FDIC 特別評估，我們的 PPNR ROA 略高於 2%，正好為 2.01%。

We continued to build capital throughout the year. We ended with tangible book value of $33.64; that's a $3.72 increase or 12.4% increase from the $29.92 at the beginning of the year. And the fourth quarter increase with $1.26.

我們全年持續累積資本。我們最終得到的有形帳面價值為 33.64 美元；與年初的 29.92 美元相比，增加了 3.72 美元，即 12.4%。第四季成長 1.26 美元。

Our tangible common equity ratio increased to 9.64% at the end of the quarter compared to 9.11% at the end of last quarter and 8.67% at the end of last year.

本季末，我們的有形普通股比率增至 9.64%，而上季末為 9.11%，去年末為 8.67%。

On the revenue side of things, interest income increased $1.7 million to $332.2 million for the quarter. And for the year, interest income increased $387 million to $1.3 billion. Our net interest income increased $34 million or just over 4% for the year. And that's been one of the most aggressive interest rate cycles we've seen in history.

在營收方面，本季利息收入增加 170 萬美元，達到 3.322 億美元。今年利息收入增加了 3.87 億美元，達到 13 億美元。今年我們的淨利息收入增加了 3,400 萬美元，增幅略高於 4%。這是我們歷史上見過的最激進的利率週期之一。

Our margin remains above peer and was stable this quarter at 3.54%, and we're encouraged by that. Beta catch up-with about 8 basis points this quarter and was completely absorbed by our positive deposit mix and our asset yield. We were able to pay off about $1 billion of wholesale funding during the quarter, with that being about $700 million of FHLB advances and $324 million of broker CDs.

我們的利潤率仍然高於同行，本季穩定在 3.54%，我們對此感到鼓舞。本季貝塔值追趕了約 8 個基點，並完全被我們積極的存款組合和資產收益率所吸收。本季我們能夠償還約 10 億美元的批發資金，其中約 7 億美元的 FHLB 預付款和 3.24 億美元的經紀商 CD。

We continue to be very close to neutral on asset liability sensitivity, which positions us very well for the next Fed decision, whenever that is. We've updated our interest rate sensitivity information on slide 11 in the presentation.

我們在資產負債敏感性方面繼續非常接近中性，這使我們對於聯準會的下一次決定（無論何時）都處於有利地位。我們更新了簡報第 11 投影片中的利率敏感度資訊。

Our noninterest income for the quarter decreased about $6.9 million, mostly in the mortgage division due to the normal fourth-quarter seasonality. But the good news there from a profitability standpoint is their noninterest expense declined in step with that decline in income as they do a great job managing their variable costs.

由於第四季正常的季節性因素，本季我們的非利息收入減少了約 690 萬美元，主要是抵押貸款部門的收入。但從獲利角度來看，好消息是，他們的非利息支出隨著收入的下降而下降，因為他們在管理變動成本方面做得很好。

And as a company, we once again did a great job this quarter. Our adjusted expenses, primarily excluding the $11.6 million FDIC assessment, decreased $2.1 million, almost all of those variable expenses in the mortgage division I just mentioned. That brought our adjusted efficiency ratio to 52.87% for the quarter and 52.58% for the year.

作為一家公司，我們本季再次表現出色。我們的調整後費用（主要不包括 1,160 萬美元的 FDIC 評估）減少了 210 萬美元，幾乎是我剛才提到的抵押貸款部門的所有可變費用。這使得我們調整後的季度效率達到 52.87%，全年效率達到 52.58%。

We continue to look for expense reduction opportunities. And although there's always a cyclical first-quarter bumps, we still believe we can maintain an efficiency ratio below 55% next year, or this year, 2024, even with the low single-digit noninterest expense increases this year.

我們繼續尋找削減開支的機會。儘管第一季總是會出現週期性波動，但我們仍然相信，明年或今年（2024 年）我們可以將效率比維持在 55% 以下，即使今年非利息費用增幅較低，個位數。

On the balance sheet side, we ended the year with total assets of $25.2 billion compared to $25.7 billion last quarter and $25.1 billion last year. Loans increased $68 million this quarter and $414 million for the year.

在資產負債表方面，我們年底的總資產為 252 億美元，而上季為 257 億美元，去年為 251 億美元。本季貸款增加 6,800 萬美元，全年貸款增加 4.14 億美元。

Deposits grew $118 million during the quarter and $1.2 billion for the year. Noninterest-bearing deposits still represent 31% of our total deposits and represented a minimal decline over last quarter. We do anticipate 2024 loan and deposit growth to increase to mid-single digits in line with our prior guidance.

本季存款成長 1.18 億美元，全年存款成長 12 億美元。無息存款仍佔存款總額的 31%，較上季略有下降。我們確實預計 2024 年貸款和存款成長將達到中個位數，與我們先前的指導一致。

So I want to close by reiterating how well positioned we are and how focused we are in a successful 2024.

因此，我想在結束演講時重申，我們處於多麼有利的位置，並且我們多麼專注於 2024 年的成功。

So with that, I'm going to turn the call back over to Chuck for any questions from the group, and we certainly appreciate everyone's time today.

因此，我將把電話轉回查克，詢問小組中的任何問題，我們當然感謝大家今天抽出時間。

Thank you. We will now begin the question-and-answer session. (Operator Instructions)

謝謝。我們現在開始問答環節。（操作員說明）

Brady Gailey, KBW.

布雷迪·蓋利，KBW。

Thanks. Good morning, guys.

謝謝。早上好傢伙。

Good morning, Brady.

早上好，布雷迪。

I wanted to start with the net interest margin. It was great to see that flat on a linked quarter basis. And I mean, 3.5% is a great level. There's some of your peers that honestly at like 2.5%. But how do you think about -- you're neutral to rates. So how do you think about what the NIM could do as we look to 2024?

我想從淨利差開始。很高興看到環比持平。我的意思是，3.5% 是一個很好的水平。老實說，你的一些同行的比例大約是 2.5%。但你如何看待——你對利率持中立態度。那麼，展望 2024 年，您如何看待 NIM 可以做些什麼？

Yeah. That's a great question, Brady. And I will tell you that really, we were very pleased with that stable margin for the quarter. But margin guidance really hasn't changed. The stableness in the fourth quarter was really due to that deposit mix.

是的。這是一個很好的問題，布雷迪。我真的可以告訴你，我們對本季穩定的利潤率感到非常滿意。但保證金指引確實沒有改變。第四季的穩定實際上是由於存款組合。

We still expect that same single-digit compression that I guided to last quarter. It's just that we were kind of able to punt that one quarter because of that mix, because of those public funds coming in and paying off those wholesale funding. So we still say that we see some compression for one to two quarters.

我們仍然預計我上季度指導的單位數壓縮率相同。只是由於這種組合，我們能夠在這一季度進行押注，因為這些公共資金進入並償還了這些批發資金。因此，我們仍然說我們會在一到兩個季度內看到一些壓縮。

We were just able to punt it to kind of buy ourselves one quarter at a time. We still say that anything above 3.5% through this cycle would be a victory. We are very, very close to asset liability sensitive neutral as you can see on slide 11.

我們只能一次為自己買四分之一。我們仍然認為，本週期任何高於 3.5% 的成長都將是勝利。正如您在投影片 11 中看到的那樣，我們非常非常接近資產負債敏感中立。

We do believe that deposit betas will be greater on the way down, that if we do have the Fed cuts coming in potentially later in the year, that we would be able to reduce rates faster on the way down, which would certainly help us. Did that help -- answer that question?

我們確實相信，存款貝塔係數在下降過程中會更大，如果聯準會可能在今年稍後降息，我們將能夠在下降過程中更快地降低利率，這肯定會對我們有所幫助。這對回答這個問題有幫助嗎？

No, that's helpful. But then when I look at your capital base, you have the goal of 9% tangible common equity. You're at 9.6% now. And with your profitability, pretty soon, you'll be north of 10%.

不，這很有幫助。但當我查看你們的資本基礎時，你們的目標是 9% 有形的普通股。你現在是 9.6%。憑藉你的獲利能力，很快你的獲利能力就會超過 10%。

So what do you do with that excess capital? I mean, you bought back a little bit of stock in 4Q. Do you increase the dividend? Do you look for other ways to grow the company? Or what do you do with that excess?

那麼你該如何處理多餘的資本呢？我的意思是，您在第四季度回購了一些股票。你增加股利嗎？您是否正在尋找其他方式來發展公司？或是你如何處理多餘的東西？

Well, Brady, you mentioned a lot of optionality there, which is exactly what that creates for us. But I think -- I would tell you during this point in time, just where we are in this economic cycle. Until we get a lot more clarity, I think the most prudent thing for us is to continue to preserve that capital. But to your point, as soon as we feel comfortable or we see some green shoots to be able to accelerate any growth, we will certainly use that accordingly.

嗯，布雷迪，你提到了很多選擇，這正是為我們創造的。但我想──我會在這個時間點告訴你們，我們處於這個經濟週期的哪個階段。在我們更加清楚之前，我認為對我們來說最謹慎的是繼續保留這筆資本。但就你的觀點而言，一旦我們感到舒服或我們看到一些能夠加速增長的新芽，我們肯定會相應地使用它。

And then finally, for me, Ameris screen is a little heavy in commercial real estate, and specifically in office. Maybe just an update on how you guys are thinking about the office and CRE portfolio.

最後，對我來說，Ameris 螢幕在商業房地產中有點重，特別是在辦公室。也許只是更新你們對辦公室和商業房地產投資組合的看法。

Brady, I don't know exactly where -- what you want to hear from that. But I mean, we haven't really been looking. I think there were a small three or four very small loans made during the quarter, but we're not really in the office sector really and haven't been for a while.

布雷迪，我不知道你到底想從哪裡聽到什麼。但我的意思是，我們還沒有真正尋找過。我認為本季發放了三到四筆非常小的貸款，但我們並不是真正進入辦公領域，而且已經有一段時間了。

But it's held up well and we have less than 2% of office loans that are on our watchlist. And the performance of those in the better sectors, the essential use in the Class As has been pretty good. But we look at it a lot.

但它的表現良好，我們的觀察名單上只有不到 2% 的辦公室貸款。而那些在更好的領域中的表現，在A級的基本用途中已經相當不錯了。但我們經常關注它。

I mean you've got to keep looking at it and keep -- kind of deal with turnover risk and things of that nature. So we stay on top of it pretty well. And the rest of the portfolio, we've got the slide 23 in there for you to get a good look at what the rest of the portfolio, past dues and NPAs look like. And they're really not there.

我的意思是，你必須繼續關注它並持續處理人員流動風險和類似性質的事情。所以我們很好地掌握了它。對於投資組合的其餘部分，我們提供了投影片 23，供您詳細了解投資組合的其餘部分、逾期未付款和不良資產的情況。他們真的不在那裡。

So overall, our NPAs and the CRE book were 6 basis points. And I think that's still -- that that is very, very good for this time.

整體而言，我們的 NPA 和 CRE 帳簿為 6 個基點。我認為這對這一次來說仍然是非常非常好的。

Okay. That's great to hear. And, Jon, good luck in retirement. Great working with you over the years.

好的。聽到這個消息我很高興。喬恩，祝你退休好運。多年來與您合作非常愉快。

Thank you, Brady.

謝謝你，布雷迪。

Casey Whitman, Piper Sandler.

凱西·惠特曼，派珀·桑德勒。

Hey, good morning.

嗨，早安。

Good morning, Casey.

早安，凱西。

Nicole, maybe how are you thinking about expenses at the bank level here as we think about the growth rate that maybe we should expect in 2024? Can you just walk us through some of the puts and takes there?

Nicole，當我們考慮 2024 年的成長率時，您可能會如何考慮銀行層面的支出？您能否向我們介紹一些看跌期權和看跌期權？

Sure. So I think when we look at our noninterest expense adjusted, kind of take out the FDIC, and then when I look at kind of -- I'm looking at maybe about 3% to 5% -- and take out mortgage to the cyclicality of the mortgage and so much of that being variable. So take out the mortgage segment.

當然。因此，我認為，當我們考慮調整後的非利息支出時，會剔除 FDIC，然後當我考慮大約 3% 到 5% 的情況時，會剔除抵押貸款的周期性抵押貸款以及其中很大一部分都是可變的。所以去掉抵押貸款部分。

If you look at kind of -- it's 3% to 5% salary and benefits, kind of 2% everything else, you got a little bit more in IT and risk, a little bit less in kind of some of the other more general category, kind of blend to that 2% and everything else. So when you put that together, you end up with kind of a maybe a 3% blended rate.

如果你看一下——工資和福利佔 3% 到 5%，其他一切佔 2%，你會在 IT 和風險方面多一點，在其他一些更一般類別的方面少一點。 ，有點與那2% 和其他一切混合在一起。所以當你把它們放在一起時，你最終會得到大約 3% 的混合利率。

I think right now, consensus has it's about 4.5% growth. And I think that excess between that 3% and 4.5% in the mortgage group. When you built in some growth in mortgage with some of the potential rates coming down built into mortgage.

我認為目前的共識是成長率約為 4.5%。我認為抵押貸款組的超額部分在 3% 到 4.5% 之間。當你在抵押貸款中建立了一些成長，同時抵押貸款中的一些潛在利率下降了。

So I think right now where that consensus is pretty close to where I think -- I mean I think consensus has us about right, but that's kind of where I'm looking at it from an expense growth standpoint.

所以我認為現在的共識與我的想法非常接近——我的意思是我認為我們的共識是正確的，但這就是我從費用增長的角度看待它的地方。

Okay. Got it. Thank you. Helpful. And I guess, Palmer, just bigger picture question, just with your comments around the loan growth outlook, I mean, which I appreciate mid-single digits is still really good for you guys. But I guess what would you -- what do you think would need to change and will need to happen before we kind of -- need to turn up the growth engine? I assume that that's going to be largely dependent on the general economy. But what do we need to see there?

好的。知道了。謝謝。有幫助。我想，帕爾默，只是更大的問題，只是你對貸款成長前景的評論，我的意思是，我欣賞中位數對你們來說仍然非常好。但我猜想，在我們需要啟動成長引擎之前，您認為需要改變什麼以及需要發生什麼？我認為這將在很大程度上取決於整體經濟。但我們需要在那裡看到什麼？

Well, you know, a lot of our pullback obviously was on the CRE front, too. And capital has certainly helped us improve there in terms of our ratios. But I would tell you, as we start seeing things improve, and obviously, the consumer data came out this morning, which looked right on target in terms of estimates.

嗯，你知道，我們的許多回調顯然也發生在 CRE 方面。資本無疑幫助我們提高了比率。但我想告訴你，隨著我們開始看到情況有所改善，很明顯，今天早上公佈的消費者數據從估計來看似乎符合目標。

And if things start to improve there in terms of the outlook and the optimism, and we feel it and see it in the markets, I will tell you the demand is still there, and that's the beauty of our footprint, is that if and when we're ready, the opportunities are there. We are not going to have to be scrambling around trying to find those opportunities; they already exist.

如果那裡的前景和樂觀情緒開始改善，我們在市場上感受到並看到了這一點，我會告訴你需求仍然存在，這就是我們足蹟的美妙之處，如果以及何時我們已經準備好了，機會就在那裡。我們不必東奔西跑地尋找這些機會；它們已經存在了。

So we have put a governor on this that's been self-induced, not by lack of demand in the markets we're in. And we're fortunate to be able to say that. So right now, I would tell you is more of a time for -- in my opinion, for people in the industry to probably continue to be a little more selective, which we'll continue to do.

因此，我們對此設定了一位監管者，這是我們自己造成的，而不是因為我們所在的市場缺乏需求。我們很幸運能夠這麼說。所以現在，我想告訴你們，在我看來，行業內的人們可能會繼續更有選擇性，我們將繼續這樣做。

We continue to take good care of our existing customers, and obviously, any new relationship -- I mean, any new opportunities they have, we will certainly entertain, but we remain very discerning and selective in the new business front. So until we start seeing other improving metrics in the CRE and in the economy overall, we'll kind of stay where we are.

我們將繼續照顧好我們現有的客戶，顯然，任何新的關係——我的意思是，他們擁有的任何新機會，我們肯定會考慮，但我們在新業務方面仍然非常有洞察力和選擇性。因此，在我們開始看到商業房地產和整體經濟的其他指標有所改善之前，我們將保持現狀。

Makes sense. Thank you.

說得通。謝謝。

Thank you.

謝謝。

Christopher Marinac, Janney.

克里斯多福·馬裡納克、珍妮.

Hey, thanks. Good morning. Palmer, it's been two years since Balboa came on with the company. And I guess I just want to do a look back in terms of how you are adjusting the credit type that you're bringing in from that division? And then also the charge-off outlook either from Jon or Doug, for what we should expect this year?

嘿，謝謝。早安.帕爾默，巴爾博亞加入公司已經兩年了。我想我只是想回顧一下你們如何調整從該部門引入的信貸類型？然後還有喬恩或道格的註銷前景，我們今年該期待什麼？

Yes. I'll touch on the strategy there and then Jon can chime in on the specifics on the charge-offs. I would tell you that line of business has been a great line of business for us. Obviously, it's a cyclical business in terms of the economy and these are small business operators.

是的。我將談談那裡的策略，然後喬恩可以插話沖銷的具體細節。我想告訴你，這個業務對我們來說是一個很棒的業務。顯然，就經濟而言，這是一個週期性業務，而這些都是小型企業經營者。

So when the small business is under stress, we're certainly going to feel it. And more specifically, as we've talked about for us and many others that trucking industry has really been kind of the hot point. So we have pulled back on that.

因此，當小企業面臨壓力時，我們肯定會感受到。更具體地說，正如我們和許多其他人談論的那樣，卡車運輸行業確實是一個熱點。所以我們已經收回了這一點。

And I think the important thing to understand there is that the credit box, obviously, there and the appetite for anything related to the trucking industry does not exist. So we'll have to work that through the system.

我認為重要的是要理解那裡的信用箱，顯然，那裡不存在與卡車運輸行業相關的任何東西的胃口。所以我們必須透過系統來解決這個問題。

And now all of those loans are obviously not troubled loans, but some of them are. And they're feeling the stress from the economy, like a lot of other small businesses are. But in terms of our -- being glad we have the business we are, I think it adds additional diversification.

現在所有這些貸款顯然都不是問題貸款，但其中一些是。和許多其他小型企業一樣，他們也感受到了經濟帶來的壓力。但就我們而言——很高興我們擁有現在的業務，我認為這增加了額外的多元化。

And as the market improves, I think that line of business will continue to deliver. The charge-offs are higher than we would like them. But we've done an excellent job of being able to reserve for any potential losses there, as you can see. And it still remains a small part of our balance sheet.

隨著市場的改善，我認為該業務線將繼續交付。沖銷額比我們希望的要高。但正如您所看到的，我們在為任何潛在損失做好準備方面做得非常出色。它仍然只是我們資產負債表的一小部分。

And as we've said from the inception, it's got a cap in terms of what percentage it would become of the balance sheet, which is 10%. I would tell you right now, it's kept pretty much right where it is until we start seeing some improvement in the overall economy. So that's kind of the overall.

正如我們從一開始就說過的，它在資產負債表中所佔的比例是有上限的，即 10%。我現在就告訴你，在我們開始看到整體經濟出現一些改善之前，它幾乎保持在原來的位置。這就是總體情況。

And, Jon, you can kind of talk to specifics in terms of the net charge-offs, if you like.

而且，喬恩，如果您願意，您可以談論淨沖銷方面的具體細節。

Chris, Palmer did a great job of overviewing that. And I agree 100% with everything. The charge-off, just as a context, remember that charge-offs in 2022 were only $8 million. And so clearly what he said about trucking, and we took a little market share in '22 and that's what we really dealt with in '23.

克里斯·帕爾默對此做了出色的概述。我百分百同意一切。沖銷，作為背景，請記住，2022 年的沖銷僅為 800 萬美元。他關於卡車運輸的說法很清楚，我們在 22 年佔據了一點市場份額，這就是我們在 23 年真正處理的問題。

But you know, we did tighten the box. As we saw what was necessary, we tightened it a little more. And we're just continuing to tweak as we need to make sure that we're getting the credit in there that we really want.

但你知道，我們確實收緊了盒子。當我們看到必要的內容時，我們把它收緊了一些。我們只是繼續進行調整，因為我們需要確保我們得到了我們真正想要的榮譽。

And at this point, we're seeing good trend lines in terms of past dues and things of that nature that would make us believe that -- I don't know if you wouldn't call it through the snake is coming to the end. And I don't anticipate that this year we'll have the same level of charge-offs as last, certainly.

在這一點上，我們在過去的會費和類似性質的事情方面看到了良好的趨勢線，這將使我們相信——我不知道你是否會通過蛇來稱呼它即將結束。我預計今年我們肯定不會出現與去年相同水準的沖銷。

Great. Thank you, both. That's very helpful. And then just a quick one for Nicole. Are you seeing any deposit rate exceptions? Or have those slowed down in the last quarter or so?

偉大的。謝謝你們倆。這非常有幫助。然後是妮可的快速介紹。您是否發現任何存款利率異常？或者這些在上個季度左右放緩了嗎？

We have definitely seen some deposit rate exception slowing. And we have also seen competitive pressure starts to slow, specifically where we've seen some very heavy pressure in Florida from credit unions. We've started to see that slow, which is good.

我們確實看到一些存款利率異常放緩。我們也看到競爭壓力開始放緩，特別是在佛羅裡達州，我們看到來自信用合作社的一些非常沉重的壓力。我們已經開始看到速度變慢了，這很好。

Great. Thank you for taking my questions.

偉大的。感謝您回答我的問題。

David Feaster, Raymond James.

大衛‧菲斯特，雷蒙德‧詹姆斯。

Good morning, everybody.

大家早安。

Good morning, David.

早安，大衛。

I'd like to follow-up on that deposit question side. I mean given the prospects of rate cuts, I'm curious how you think about your ability to reprice deposits if we do get Fed cuts this year. Or just given liquidity challenges in the industry, competitive landscape, and all that, would you expect this maybe to be a bit more challenging on the way down and betas are slower than they were -- than on the way up? I'm just curious how you think about your ability to reprice deposits lower if we do get cuts this year.

我想跟進存款問題。我的意思是，考慮到降息的前景，我很好奇，如果聯準會今年確實降息，你如何看待你對存款重新定價的能力。或者考慮到產業的流動性挑戰、競爭格局等等，您是否認為下跌過程中可能會比上漲過程中更具挑戰性，貝塔值也比原來慢一些？我只是很好奇，如果今年我們真的降息的話，你們如何看待你們將存款重新定價得更低的能力。

Yes. So we think that deposit betas are going to be faster on the way down. And then from a tactical perspective, we've got 95% of our retail CDs that mature in 2024. And then all of our brokered CDs are short and they mature by June. And then we've got very short FHLB and very minimal FHLB advances.

是的。因此，我們認為存款貝塔值下降的速度將會更快。然後從戰術角度來看，我們 95% 的零售 CD 將於 2024 年到期。然後我們所有的經紀 CD 都是空頭的，它們會在六月到期。然後我們得到了非常短的 FHLB 和非常小的 FHLB 進步。

So we definitely have some positive movement on the deposit side, where we feel like we'll be able to reprice those. And then you add in just the interest-bearing money market that they will reprice fairly quickly. So we feel like we could be aggressive, and then the 31% noninterest bearing will certainly help that as well.

因此，我們在存款方面肯定有一些積極的變化，我們覺得我們將能夠重新定價。然後你再加上生息貨幣市場，它們會很快重新定價。因此，我們覺得我們可以採取積極進取的態度，而 31% 的免息利率肯定也會對此有所幫助。

Okay, that's helpful. And maybe touching on -- again, staying on with potential cuts. I'm curious, high level, how do you think about mortgage at this point and some of the trends you're seeing?

好的，這很有幫助。也許還會再次談到，繼續進行潛在的削減。我很好奇，高層，您目前如何看待抵押貸款以及您所看到的一些趨勢？

And maybe how much activity would you -- I mean, again, mortgage rates have started to come down a bit. Could come down even more with rate cuts. I'm curious how you think about, a, mortgage volumes in the coming year? And any expectations for that gain on sale margin to start improving?

也許你會進行多少活動——我的意思是，抵押貸款利率已經開始略有下降。隨著降息，可能會進一步下降。我很好奇您如何看待來年的房貸數量？對銷售利潤率的成長是否會開始改善有任何預期嗎？

Yes, I think with the Fed cuts or potential Fed cuts, obviously, we'll see improvement in that margin. But I would tell you, as we mentioned last time, so many times in environments like this, we all have a tendency to look at headwinds and not focus on tailwinds.

是的，我認為隨著聯準會降息或潛在的聯準會降息，顯然我們會看到這一幅度的改善。但我想告訴你，正如我們上次提到的，很多時候在這樣的環境中，我們都傾向於關注逆風而不是關注順風。

But this would certainly be a big tailwind for our operation just because of how well we're positioned. And what we've done and what we've been able to do in terms of garnering efficiencies and keeping the costs in line with the revenue decline, that seem is true on the flip side.

但這肯定會對我們的營運產生巨大的推動作用，因為我們的定位非常好。從另一方面來看，我們在提高效率和保持成本與收入下降保持一致方面所做的以及我們能夠做的事情似乎也是如此。

So when the when the opportunity is there and the refis and the purchase activity picks back up, we are extremely well positioned there. So I would tell you that as we look out and if we end up getting as many rate cuts as everyone thinks we are, that could be a tremendous lift for our organization, just knowing how we performed in the past and how we can perform in the future.

因此，當機會出現、再融資和購買活動回升時，我們就處於非常有利的位置。因此，我想告訴你，當我們展望未來時，如果我們最終得到大家認為的那麼多降息，這對我們的組織來說可能是一個巨大的提升，只要知道我們過去的表現以及我們在未來的表現未來。

And more importantly, how we're already positioned in terms of our bankers and also our operations. So that could be a real bright spot. But a lot of that, as we touched on, is going to be predicated by the -- what the Fed does. Because that's the big driver, as you know of that consumer behavior.

更重要的是，我們在銀行家和營運方面的定位如何。所以這可能是一個真正的亮點。但正如我們所談到的，其中很大一部分將取決於聯準會的所作所為。因為如您所知，這是最大的驅動因素。消費者行為。

Yes, that makes a lot of sense. And maybe just last one from me. I'm curious how you think about -- you guys have done a great job on the deposit -- managing deposits. And we talked about where we can cut -- how quickly we can cut betas or betas are going to be on the way down.

是的，這很有意義。也許只是我的最後一篇。我很好奇你們如何看待——你們在存款方面做得很好——管理存款。我們討論了我們可以在哪些方面進行削減——我們可以以多快的速度削減貝塔值，或者貝塔值將會下降。

I'm curious how you think about deposit growth going forward? And maybe just -- it seems like we've seen some more seasonality from some folks on the deposit front. Curious how you think about your ability to drive core deposit growth in this coming year and some initiatives that you put in place to maybe support that?

我很好奇您如何看待未來的存款成長？也許只是——我們似乎從存款方面的一些人那裡看到了更多的季節性。想知道您如何看待來年推動核心存款成長的能力以及您為支持這一目標而採取的一些舉措？

Yes, I would tell you that's probably something that we're very bullish on in the sense that if you look at the momentum that we created even during the liquidity this year, which was a very difficult year. If you can grow deposits in an environment like we've been in over the last 12 months, and more importantly, retained deposits and maintain your deposit mix, which we've done a very good job of doing, net of the pandemic deposits.

是的，我想告訴你，這可能是我們非常看好的事情，因為如果你看看我們在今年的流動性期間創造的勢頭，這是非常困難的一年。如果你能在過去 12 個月我們所處的環境中增加存款，更重要的是，保留存款並維持你的存款組合，我們在這方面做得非常好，扣除了大流行存款。

But I think part of the value there is, a lot of that came from a lot of our organic growth and long relationships. And we've always been focused more on relationships and transactions and that has served us well. And that's what we continue to do.

但我認為其中的部分價值，很大一部分來自我們的有機成長和長期關係。我們一直更關注關係和交易，這對我們很有幫助。這就是我們繼續做的事情。

And if you look at investments that we've made this year, a lot of those -- we kept saying throughout the entire year from an expense standpoint that we did not have to load up on any more bankers out there to bring in volume. And thank goodness, we didn't because the volume was intentionally pulled back.

如果你看看我們今年所做的投資，你會發現其中有很多——從費用的角度來看，我們全年一直在說，我們不需要再僱用更多的銀行家來增加數量。謝天謝地，我們沒有這麼做，因為音量被故意拉低了。

But what we did invest in is treasury. So our treasury platform has had a tremendous year. And a lot of that comes from our C&I initiatives and also from the hard work of a lot of the treasury offers we have. So that momentum is really what helped move a lot of the needle in fourth quarter. And I think that same momentum will be there throughout the year.

但我們投資的是國債。因此，我們的財務平台度過了輝煌的一年。其中很大一部分來自我們的 C&I 舉措，也來自我們擁有的許多財務優惠的辛勤工作。因此，這種勢頭確實在第四季度起到了很大的推動作用。我認為全年都會有同樣的勢頭。

So we've got a lot of initiatives in place there that are delivering now and we'll continue to deliver. So I probably feel a little more optimistic than most in terms of our ability to keep growing core funding.

因此，我們已經採取了很多舉措，現在正在實施，我們將繼續實施。因此，就我們維持核心資金成長的能力而言，我可能比大多數人更樂觀。

I mean, so would you expect core funding to maybe outpace loan growth? Or would you expect maybe that remixing of the balance sheet to kind of keep deposits stable, and just again improve the mix? Curious kind of how you think about growth prospects and overall balance sheet growth.

我的意思是，那麼您是否預計核心資金可能會超過貸款成長？或者您期望資產負債表的重新組合以保持存款穩定，並再次改善結構？很好奇您如何看待成長前景和整體資產負債表成長。

Yes. In a perfect world, obviously would be all loans will be funded with core funding, but we know that's not a reality. So then there's obviously a balance there in terms of our desire for loan growth.

是的。在一個完美的世界中，顯然所有貸款都將由核心資金提供資金，但我們知道這不是現實。因此，就我們對貸款成長的渴望而言，顯然存在平衡。

Right now, I'd tell you that loan growth desire is muted as we talked about earlier. So I think you're going to probably see -- from a percentage standpoint, you'll probably see more core funding relative loan growth. But once we start accelerating loan growth or feel it's appropriate to do so, then you would probably see more of us utilizing wholesale funding or other types of funding beyond just core funding.

現在，我想告訴你，正如我們之前討論的那樣，貸款成長的願望已經減弱。所以我認為你可能會看到——從百分比的角度來看，你可能會看到更多的核心資金相對貸款成長。但是，一旦我們開始加速貸款成長或認為這樣做是合適的，那麼您可能會看到我們中更多的人利用批發資金或除核心資金之外的其他類型的資金。

Okay, terrific. Thanks, everybody.

好吧，太棒了。謝謝大家。

This concludes the question-and-answer session. I would like to turn the conference back over to Mr. Palmer Proctor for any closing remarks. Please go ahead, sir.

問答環節到此結束。我想將會議轉回帕爾默·普羅克特先生發表閉幕詞。請繼續，先生。

Yes. I'd just like to thank everyone once again for listening to our fourth-quarter and full-year 2023 earnings results. And I'd also like to give a special thank you and recognition to Jon Edwards, our Chief Credit Officer. This will be his last earnings call, but I'd like to thank him for his friendship and service to Ameris for over 25 years.

是的。我想再次感謝大家聆聽我們第四季和 2023 年全年的獲利結果。我還要特別感謝我們的首席信貸官喬恩‧愛德華茲 (Jon Edwards)。這將是他最後一次召開財報電話會議，但我要感謝他 25 年來對 Ameris 的友誼和服務。

We are certainly going to miss him, but he assures me that he is just a phone call away if we ever need him. But I want to thank everybody once again for their time and their interest in Ameris Bank. Have a great day.

我們肯定會想念他，但他向我保證，如果我們需要他，只需打個電話即可。但我想再次感謝大家的寶貴時間以及對 Ameris Bank 的興趣。祝你有美好的一天。

The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.

會議現已結束。感謝您參加今天的演講。您現在可以斷開連線。