Ameris BancorpABCB
Ameris Bancorp Income Taxes Disclosure
INCOME TAXES
Accrued interest and penalties related to unrecognized income tax benefits are included as a component of income tax expense. Accrued interest and penalties on unrecognized income tax benefits totaled $3,000 as of both December 31, 2025 and 2024, respectively. Unrecognized income tax benefits as of December 31, 2025 and 2024, that, if recognized, would affect the effective income tax rate totaled $22,000 (net of the federal benefit on state income tax issues), respectively. Accruals of penalties and interest resulted in a expense of $98,000 in 2024.
The income tax expense in the consolidated statements of income consists of the following:
| For the Years Ended December 31, | |||||||||||||||||
| (dollars in thousands) | 2025 | 2024 | 2023 | ||||||||||||||
| Current Tax Expense | |||||||||||||||||
| Current - federal | $ | 117,405 | $ | 117,978 | $ | 84,835 | |||||||||||
| Current - state | 14,756 | 19,275 | 23,463 | ||||||||||||||
| Total Current Income Tax Expense | $ | 132,161 | $ | 137,253 | $ | 108,298 | |||||||||||
| Deferred Tax Expense | |||||||||||||||||
| Deferred - federal | $ | (10,227) | $ | (18,918) | $ | (16,882) | |||||||||||
| Deferred - state | (324) | (1,160) | (3,586) | ||||||||||||||
| Total Deferred Income Tax Expense | $ | (10,551) | $ | (20,078) | $ | (20,468) | |||||||||||
| Total Income Tax Expense | |||||||||||||||||
| U.S. federal | $ | 107,178 | $ | 99,060 | $ | 67,953 | |||||||||||
| State | 14,432 | 18,115 | 19,877 | ||||||||||||||
| Total Income Tax Expense | $ | 121,610 | $ | 117,175 | $ | 87,830 | |||||||||||
The Company’s income tax expense differs from the amounts computed by applying the federal income tax statutory rates to income before income taxes. A reconciliation of the differences is as follows:
| For the Years Ended December 31, | |||||||||||||||||||||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||||||||||||||||||||
| (dollars in thousands) | Amount | Percent | Amount | Percent | Amount | Percent | |||||||||||||||||||||||||||||
| U.S. Federal statutory tax rate | $ | 112,090 | 21.0 | % | $ | 99,931 | 21.0 | % | $ | 74,956 | 21.0 | % | |||||||||||||||||||||||
State income tax, net of federal income tax effect(1) | 11,333 | 2.1 | % | 14,068 | 3.0 | % | 14,950 | 4.2 | % | ||||||||||||||||||||||||||
| Tax credits | (486) | (0.1) | % | (367) | (0.1) | % | (147) | — | % | ||||||||||||||||||||||||||
| Nontaxable or nondeductible Items | (1,327) | (0.2) | % | 3,543 | 0.7 | % | (1,929) | (0.6) | % | ||||||||||||||||||||||||||
| Provision for income taxes | $ | 121,610 | 22.8 | % | $ | 117,175 | 24.6 | % | $ | 87,830 | 24.6 | % | |||||||||||||||||||||||
(1) The states that contribute to the majority (greater than 50%) of the tax effect in this category include Georgia and Florida. | |||||||||||||||||||||||||||||||||||
The components of deferred income taxes are as follows:
| December 31, | |||||||||||
| (dollars in thousands) | 2025 | 2024 | |||||||||
| Deferred tax assets | |||||||||||
| Allowance for credit losses | $ | 97,013 | $ | 90,357 | |||||||
| Deferred compensation | 18,690 | 14,421 | |||||||||
| Deferred loan fees | 2,456 | 435 | |||||||||
| Purchase accounting adjustments | 2,236 | 3,112 | |||||||||
| Other real estate owned | 73 | 106 | |||||||||
| Net operating loss tax carryforward | 9,847 | 11,319 | |||||||||
| Tax credit carryforwards | 117 | 117 | |||||||||
| Unrealized loss on securities available for sale | — | 8,906 | |||||||||
| Capitalized costs, accrued expenses and other | 2,237 | 7,550 | |||||||||
| Lease liability | 12,408 | 13,319 | |||||||||
| 145,077 | 149,642 | ||||||||||
| Deferred tax liabilities | |||||||||||
| Premises and equipment | 10,017 | 10,025 | |||||||||
| Mortgage servicing rights | 21,698 | 22,135 | |||||||||
| Subordinated debentures | 5,150 | 5,603 | |||||||||
| Lease financing | 5,608 | 7,239 | |||||||||
| Goodwill and intangible assets | 16,990 | 19,998 | |||||||||
| Unrealized gain on securities available-for-sale | 3,675 | — | |||||||||
| Origination costs | 11,225 | 11,100 | |||||||||
| Right of use lease asset | 10,333 | 11,243 | |||||||||
| 84,696 | 87,343 | ||||||||||
| Net deferred tax asset | $ | 60,381 | $ | 62,299 | |||||||
At December 31, 2025, the Company had federal net operating loss carryforwards of approximately $39.0 million which expire at various dates from 2028 to 2036. At December 31, 2025, the Company had state net operating loss carryforwards of approximately $39.0 million which expire at various dates from 2028 to 2036. The federal net operating loss carryforwards are subject to limitations pursuant to Section 382 of the Internal Revenue Code and are expected to be recovered over the next 11 years. The state net operating loss carryforwards are subject to similar limitations and are expected to be recovered over the next 11 years. Deferred tax assets are recognized for net operating losses because the benefit is more likely than not to be realized.
In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based on the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible, management believes it is more likely than not that the Company will realize the benefits of these deferred tax assets at December 31, 2025.
The Company and its subsidiaries are subject to U.S. federal income tax as well as income tax of the various states. The Company is no longer subject to examination by federal taxing authorities for years before 2022 and state taxing authorities for years before 2021.
The amount of cash taxes paid are as follows:
| For the Years Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| U.S. Federal | $ | 141,000 | $ | 80,000 | $ | 84,355 | |||||||||||
U.S. State and Local(1) | |||||||||||||||||
| Florida | * | 6,336 | * | ||||||||||||||
| Georgia | * | 11,630 | 10,829 | ||||||||||||||
| Other | 14,979 | 8,413 | 9,814 | ||||||||||||||
| Total income taxes, net of amounts refunded | $ | 155,979 | $ | 106,379 | $ | 104,998 | |||||||||||
* The amount of income taxes paid during the year does not meet the 5% disaggregation threshold and is included in Other. (1) Amounts are inclusive of contributions that generate income tax credits in various states | |||||||||||||||||
Although Ameris is unable to determine the ultimate outcome of current and future events, Ameris believes that the liability recorded for uncertain tax positions is adequate. A reconciliation of the beginning and ending amount of unrecognized income tax benefits is as follows.
| For the Years Ended December 31, | |||||||||||
| (dollars in thousands) | 2025 | 2024 | |||||||||
| Beginning Balance | $ | 25 | $ | 610 | |||||||
| Current Activity: | |||||||||||
| Additions for tax positions of prior years | — | 277 | |||||||||
| Reductions for statutes of limitations expiring | — | (105) | |||||||||
| Settlements | — | (757) | |||||||||
| Ending Balance | $ | 25 | $ | 25 | |||||||
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 Income Taxes Disclosures
The income tax disclosure reveals how much a company actually pays in taxes versus what the statutory rate would predict. Analysts focus on the effective tax rate (ETR) reconciliation, which breaks down every item driving the gap between the 21% federal rate and the company's reported ETR — including R&D credits, foreign rate differentials, and state taxes. Deferred tax assets (DTAs) and their valuation allowances signal management's confidence in future profitability: a rising allowance suggests the company doubts it can use accumulated tax benefits. Uncertain tax benefit (UTB) reserves quantify exposure to IRS challenges on aggressive positions.
Key signals to watch: sudden ETR drops without clear operational reasons, large increases in valuation allowances, growing UTB balances, and significant unremitted foreign earnings. Post-TCJA, pay attention to GILTI and BEAT provisions that affect multinational tax structures. Compare the cash taxes paid (from the cash flow statement) against the income tax provision to gauge earnings quality.