Ameris BancorpABCB
Ameris Bancorp Debt Disclosure
OTHER BORROWINGS
Other borrowings consist of the following:
| December 31, | |||||||||||
| (dollars in thousands) | 2025 | 2024 | |||||||||
| FHLB borrowings: | |||||||||||
Fixed Rate Advance due January 21, 2025; fixed interest rate of 4.430% | $ | — | $ | 50,000 | |||||||
Fixed Rate Advance due March 3, 2025; fixed interest rate of 1.208% | — | 15,000 | |||||||||
Daily Rate Credit due December 16, 2026; variable interest rate of 3.880% | 515,000 | — | |||||||||
Fixed Rate Advance due March 2, 2027; fixed interest rate of 1.445% | 15,000 | 15,000 | |||||||||
Fixed Rate Advance due March 4, 2030; fixed interest rate of 1.606% | 15,000 | 15,000 | |||||||||
Fixed Rate Advance due December 9, 2030; fixed interest rate of 4.550% | 1,355 | 1,366 | |||||||||
Fixed Rate Advance due December 9, 2030; fixed interest rate of 4.550% | 938 | 946 | |||||||||
Principal Reducing Advance due September 29, 2031; fixed interest rate of 3.095% | 838 | 984 | |||||||||
| Subordinated notes payable: | |||||||||||
Subordinated notes payable due May 31, 2030 net of unaccreted purchase accounting fair value adjustment of $0 and $653, respectively; fixed interest rate of 5.875% through May 31, 2025; variable interest rate thereafter at three-month SOFR plus 3.63% (Bank subordinated notes) (1) | — | 74,653 | |||||||||
Subordinated notes payable due October 1, 2030 net of unamortized debt issuance cost of $0 and $1,161, respectively; fixed interest rate of 3.875% through September 30, 2025; variable interest rate thereafter at three-month SOFR plus 3.753% (2030 subordinated notes) | — | 108,839 | |||||||||
| Other Debt: | |||||||||||
Advance from correspondent bank due December 1, 2025; secured by a loan receivable; variable interest rate at one-month SOFR plus 2.65% | 9,908 | 10,000 | |||||||||
| $ | 558,039 | $ | 291,788 | ||||||||
(1) Initially was to migrate to three-month LIBOR plus 3.63%, subsequently was to migrate to three-month SOFR plus a comparable tenor spread beginning June 1, 2025 through the end of the term, as three-month LIBOR ceased to be published effective July 1, 2023. | |||||||||||
The advances from the FHLB are collateralized by a blanket lien on all eligible first mortgage loans and other specific loans in addition to FHLB stock. At December 31, 2025, $2.93 billion was available for additional borrowing on lines with the FHLB.
As of December 31, 2025, the Bank maintained credit arrangements with various financial institutions to purchase federal funds up to $92.0 million.
The Bank also participates in the Federal Reserve discount window borrowings program. At December 31, 2025, the Company had $2.60 billion of loans pledged at the Federal Reserve discount window and had $2.08 billion available for borrowing.
Subordinated Notes Payable
On September 28, 2020, the Company completed the public offering and sale of $110.0 million in aggregate principal amount of its 3.875% Fixed-To-Floating Rate Subordinated Notes due 2030 (the “2030 subordinated notes”). The 2030 subordinated notes were sold to the public at par pursuant to an underwriting agreement and were issued pursuant to an indenture and a supplemental indenture. The 2030 subordinated notes were scheduled to mature on October 1, 2030 and through September 30, 2025 bore a fixed rate of interest of 3.875% per annum, payable semi-annually in arrears on April 1 and October 1 of each year. Beginning October 1, 2025, the interest rate on the 2030 subordinated notes was scheduled to reset quarterly to a floating rate per annum equal to the then-current three-month SOFR plus 3.753%, payable quarterly in arrears on January 1, April 1, July 1 and October 1 of each year to the maturity date or earlier redemption. On any scheduled interest payment date beginning October 1, 2025, the Company was permitted, at its option, to redeem the 2030 subordinated notes, in whole or in part, at a redemption price equal to 100% of the principal amount plus accrued and unpaid interest. The Company elected to redeem the 2030 subordinated notes in full on the October 1, 2025 interest payment date. These notes were redeemed at par.
On July 1, 2019, the Bank assumed $75.0 million in aggregate principal amount of 5.875% Fixed-To-Floating Rate Subordinated Notes due 2030 (the “Bank subordinated notes”) as part of its acquisition of Fidelity Southern Corporation, completed in July 2019. The Bank subordinated notes were acquired inclusive of an unaccreted purchase accounting fair value adjustment of $1.3 million. The Bank subordinated notes were scheduled to mature on May 31, 2030, and through May 31, 2025 bore a fixed rate of interest of 5.875% per annum, payable semi-annually in arrears on December 1 and June 1 of each
year. Beginning on June 1, 2025, the interest rate on the Bank subordinated notes was scheduled to reset quarterly to a floating rate per annum equal to the then-current three-month SOFR plus 3.63%, payable quarterly in arrears on September 1, December 1, March 1 and June 1 of each year to the maturity date or earlier redemption. On any scheduled interest payment date beginning June 1, 2025, the Bank was permitted, at its option, to redeem the Bank subordinated notes, in whole or in part, at a redemption price equal to 100% of the principal amount plus accrued and unpaid interest. The Bank subordinated notes were unsecured and structurally ranked senior to all other unsecured subordinated indebtedness of the Company. The Bank subordinated notes were subordinated in right of payment to all senior indebtedness of the Bank. During 2024, the Company repurchased on the open market and redeemed $1.0 million in aggregate principal of the Bank subordinated notes. The Company elected to redeem the remaining Bank subordinated notes in full on the September 1, 2025 interest payment date. These notes, which totaled $74.0 million outstanding, bore interest at 8.22% and were redeemed at par.
For regulatory capital adequacy purposes, the Bank subordinated notes qualified as Tier 2 capital for the Bank and the 2030 and Bank subordinated notes (collectively “subordinated notes”) qualified as Tier 2 capital for the Company.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 28, 2025 | |
| 2023 | Feb 28, 2024 | |
| 2022 | Feb 28, 2023 | |
| 2021 | Feb 28, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Mar 9, 2020 | |
| 2018 | Mar 1, 2019 | |
| 2017 | Mar 1, 2018 | |
| 2016 | Feb 27, 2017 | |
| 2015 | Feb 29, 2016 | |
About Debt Disclosures
Debt disclosures detail a company's borrowing structure — the types of instruments, interest rates, maturity schedule, and covenant restrictions that define its financial obligations and flexibility. This section is essential for assessing refinancing risk, interest rate exposure, and the margin of safety against financial distress.
Key signals: the maturity schedule reveals concentration risk — large maturities within 1-2 years during tight credit markets can force dilutive refinancing or asset sales. Compare the fair value of debt against carrying amount to gauge whether the market views the company's credit risk differently than the balance sheet suggests. Watch covenant compliance disclosures for tightening cushions, especially leverage and interest coverage ratios. Variable-rate debt exposure quantifies sensitivity to interest rate changes. Secured versus unsecured mix affects recovery rates and future borrowing capacity. Compare net debt-to-EBITDA against industry peers and covenant limits to assess financial health.