Cautionary Note Regarding Forward-Looking Statements Certain of the statements made in this report are “forward-looking statements” within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions and future performance and involve known and unknown risks, uncertainties and other factors, many of which may be beyond our control and which may cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “point to,” “project,” “predict,” “could,” “intend,” “target,” “potential” and other similar words and expressions of the future. These forward-looking statements may not be realized due to a variety of factors, including, without limitation, the following: general competitive, economic, unemployment, political and market conditions and fluctuations, including real estate market conditions, and the effects of such conditions and fluctuations on the creditworthiness and payment behaviors of borrowers, collateral values, asset recovery values and the value of investment securities; movements in interest rates and their impacts on net interest margin, investment security valuations and other performance measures; expectations and assumptions regarding credit quality and performance; legislative and regulatory changes; changes in U.S. government trade, monetary and fiscal policies, including tariffs; competitive pressures on product pricing and services; fraud, theft or other misconduct impacting our customers or operations; cybersecurity risks, including data breaches, malware, ransomware and account takeovers; the success and timing of our business strategies and plans; our outlook and long-term goals for future growth; and natural disasters, geopolitical events, acts of war or terrorism or other hostilities, public health crises and other catastrophic events beyond our control; and other factors discussed in our filings with the Securities and Exchange Commission (the “SEC”) under the Exchange Act. All written or oral forward-looking statements that are made by or are attributable to us are expressly qualified in their entirety by this cautionary notice. Our forward-looking statements apply only as of the date of this report or the respective date of the document from which they are incorporated herein by reference. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date of this report, or after the respective dates on which such statements otherwise are made, whether as a result of new information, future events or otherwise, except as required by law. Overview The following is management’s discussion and analysis of certain significant factors which have affected the financial condition and results of operations of the Company as reflected in the unaudited consolidated balance sheet as of June 30, 2026, as compared with December 31, 2025, and operating results for the three and six month periods ended June 30, 2026 and 2025. These comments should be read in conjunction with the Company’s unaudited consolidated financial statements and accompanying notes appearing elsewhere herein. Critical Accounting Policies There have been no significant changes to our critical accounting policies from those disclosed in our 2025 Annual Report on Form 10-K. The reader should refer to the notes to our consolidated financial statements in our 2025 Annual Report on Form 10-K for a full disclosure of all critical accounting policies. 40 Results of Operations for the Three Months Ended June 30, 2026 and 2025 Consolidated Earnings and Profitability Ameris reported net income available to common shareholders of $51.4 million, or $0.77 per diluted share, for the quarter ended June 30, 2026, compared with $109.8 million, or $1.60 per diluted share, for the same period in 2025. The Company’s return on average assets and average shareholders’ equity were 0.73% and 5.00%, respectively, in the second quarter of 2026, compared with 1.65% and 11.40%, respectively, in the second quarter of 2025. Results for the second quarter of 2026 include a litigation expense accrual of $82.5 million related to a jury verdict in an employment case in California, a $7.4 million gain on securities related to the conversion of Visa Class B-2 shares and related gain on sale and mark-to-market adjustments post-conversion and a gain on BOLI proceeds of $846,000. During the second quarter of 2025, the Company recorded a gain on sale of mortgage servicing rights of $356,000 and a $138,000 reduction in FDIC special assessment expense. Below is additional information regarding the banking, retail mortgage, warehouse lending and premium finance divisions of the Company during the second quarter of 2026 and 2025, respectively: Three Months Ended June 30, 2026 (dollars in thousands) Banking Division Retail Mortgage Division Warehouse Lending Division Premium Finance Division Total Interest income $ 256,966 $ 56,591 $ 21,314 $ 30,704 $ 365,575 Interest expense 41,666 40,747 12,489 18,189 113,091 Net interest income 215,300 15,844 8,825 12,515 252,484 Provision for credit losses 19,998 (3,346) 184 417 17,253 Noninterest income 40,569 32,151 794 18 73,532 Noninterest expense Salaries and employee benefits 66,668 21,493 468 2,865 91,494 Occupancy and equipment 11,823 685 7 40 12,555 Data processing and communications expenses 14,041 1,302 59 169 15,571 Other expenses 110,933 11,587 184 390 123,094 Total noninterest expense 203,465 35,067 718 3,464 242,714 Income before income tax expense 32,406 16,274 8,717 8,652 66,049 Income tax expense 7,538 3,417 1,831 1,817 14,603 Net income $ 24,868 $ 12,857 $ 6,886 $ 6,835 $ 51,446 Three Months Ended June 30, 2025 (dollars in thousands) Banking Division Retail Mortgage Division Warehouse Lending Division Premium Finance Division Total Interest income $ 239,211 $ 61,356 $ 18,174 $ 28,897 $ 347,638 Interest expense 47,710 39,325 11,083 17,707 115,825 Net interest income 191,501 22,031 7,091 11,190 231,813 Provision for credit losses 677 1,010 369 716 2,772 Noninterest income 29,275 37,726 1,893 17 68,911 Noninterest expense Salaries and employee benefits 62,001 24,358 618 2,331 89,308 Occupancy and equipment 10,547 811 7 36 11,401 Data processing and communications expenses 13,825 1,391 59 91 15,366 Other expenses 25,478 12,496 96 1,115 39,185 Total noninterest expense 111,851 39,056 780 3,573 155,260 Income before income tax expense 108,248 19,691 7,835 6,918 142,692 Income tax expense 25,667 4,135 1,646 1,410 32,858 Net income $ 82,581 $ 15,556 $ 6,189 $ 5,508 $ 109,834 41 Net Interest Income and Margin The following table sets forth the average balance, interest income or interest expense, and average interest rate for each category of interest-earning assets and interest-bearing liabilities, net interest spread, and net interest margin on average interest-earning assets for the three months ended June 30, 2026 and 2025. Federally tax-exempt income is presented on a taxable-equivalent basis assuming a 21% federal tax rate. Quarter Ended June 30, 2026 2025 (dollars in thousands) Average Balance Interest Income/ Expense Average Yield/ Rate Paid Average Balance Interest Income/ Expense Average Yield/ Rate Paid Assets Interest-earning assets: Interest-bearing deposits in banks $ 883,521 $ 8,270 3.75% $ 951,851 $ 10,715 4.52% Investment securities - taxable 2,703,887 30,217 4.48% 2,117,596 20,696 3.92% Investment securities - nontaxable 44,914 485 4.33% 41,299 423 4.11% Loans held for sale 629,469 9,478 6.04% 730,770 11,578 6.35% Loans 21,947,729 318,079 5.81% 20,928,825 305,154 5.85% Total interest-earning assets 26,209,520 366,529 5.61% 24,770,341 348,566 5.64% Noninterest-earning assets 2,000,664 1,986,981 Total assets $ 28,210,184 $ 26,757,322 Liabilities and Shareholders’ Equity Interest-bearing liabilities: Interest-bearing deposits NOW accounts $ 4,212,047 $ 18,925 1.80% $ 3,939,802 $ 18,144 1.85% MMDA 7,072,892 47,070 2.67% 6,918,382 53,469 3.10% Savings accounts 774,903 688 0.36% 766,331 826 0.43% Retail CDs 2,250,844 18,531 3.30% 2,393,402 21,852 3.66% Brokered CDs 1,420,811 13,781 3.89% 1,145,043 12,505 4.38% Total interest-bearing deposits 15,731,497 98,995 2.52% 15,162,960 106,796 2.83% Non-deposit funding FHLB advances 1,171,702 11,182 3.83% 326,054 3,508 4.32% Other borrowings 9,768 129 5.30% 193,492 2,499 5.18% Subordinated deferrable interest debentures 135,037 2,785 8.27% 133,043 3,022 9.11% Total non-deposit funding 1,316,507 14,096 4.29% 652,589 9,029 5.55% Total interest-bearing liabilities 17,048,004 113,091 2.66% 15,815,549 115,825 2.94% Demand deposits 6,695,490 6,766,557 Other liabilities 343,767 310,185 Shareholders’ equity 4,122,923 3,865,031 Total liabilities and shareholders’ equity $ 28,210,184 $ 26,757,322 Interest rate spread 2.95% 2.70% Net interest income $ 253,438 $ 232,741 Net interest margin 3.88% 3.77% On a tax-equivalent basis, net interest income for the second quarter of 2026 was $253.4 million, an increase of $20.7 million, or 8.89%, compared with $232.7 million reported in the same quarter in 2025. The increase in net interest income is primarily a result of downward pricing adjustments on deposits as market rates decreased, in addition to growth in average earning assets, partially offset by a decrease in asset yields. Average interest-earning assets increased $1.44 billion, or 5.81%, from $24.77 billion in the second quarter of 2025 to $26.21 billion for the second quarter of 2026. This growth in interest-earning assets resulted primarily from increased investment in our bond portfolio and organic loan growth, partially offset by a decrease in loans held for sale. The Company’s net interest margin during the second quarter of 2026 was 3.88%, up 11 basis points from 3.77% reported in the second quarter of 2025. Loan production amounted to $6.2 billion during the second quarter of 2026, with weighted average yields of 6.20%, compared with $5.7 billion and 6.76%, respectively, during the second quarter of 2025. 42 Total interest income, on a tax-equivalent basis, increased to $366.5 million during the second quarter of 2026, compared with $348.6 million in the same quarter of 2025. Yields on earning assets decreased to 5.61% during the second quarter of 2026, compared with 5.64% reported in the second quarter of 2025. During the second quarter of 2026, loans comprised 86.1% of average earning assets, compared with 87.4% in the same quarter of 2025. Yields on loans decreased to 5.81% during the second quarter of 2026, compared with 5.85% in the second quarter of 2025. Yields on taxable investment securities increased to 4.48% in the second quarter of 2026, compared with 3.92% in the same period of 2025. The yield on interest-bearing deposits decreased from 2.83% in the second quarter of 2025 to 2.52% in the second quarter of 2026. The yield on total interest-bearing liabilities decreased from 2.94% in the second quarter of 2025 to 2.66% in the second quarter of 2026. Total funding costs, inclusive of noninterest-bearing demand deposits, decreased to 1.91% in the second quarter of 2026, compared with 2.06% during the second quarter of 2025. Deposit costs decreased from 1.95% in the second quarter of 2025 to 1.77% in the second quarter of 2026. Non-deposit funding costs decreased from 5.55% in the second quarter of 2025 to 4.29% in the second quarter of 2026. Provision for Credit Losses The Company’s provision for credit losses during the second quarter of 2026 amounted to $17.3 million, compared with $2.8 million in the second quarter of 2025. The provision for credit losses for the second quarter of 2026 was comprised of a provision of $15.9 million related to loans, $1.4 million related to unfunded commitments and negative $1,000 related to other credit losses, respectively, compared with $3.1 million related to loans, negative $335,000 related to unfunded commitments and negative $3,000 related to other credit losses for the second quarter of 2025. The increase in the provision for credit losses on loans is primarily attributable to the updated economic forecast, an increase in the office portfolio qualitative factor and organic loan growth. The increase in the provision for unfunded commitments primarily resulted from an increase in unfunded commitments. Non-performing assets as a percentage of total assets increased three basis points to 0.47% at June 30, 2026, compared with 0.44% at December 31, 2025. The increase in non-performing assets is primarily attributable to an increase in nonaccrual loans of $11.5 million, partially offset by a decrease in accruing loans delinquent 90 days or more of $128,000. The Company recognized net charge-offs on loans during the second quarter of 2026 of $11.1 million, or 0.20% of average loans on an annualized basis, compared with net charge-offs of $7.1 million, or 0.14%, in the second quarter of 2025. The Company’s total allowance for credit losses on loans at June 30, 2026 was $359.5 million, or 1.62% of total loans, compared with $348.1 million, or 1.62% of total loans, at December 31, 2025. Noninterest Income Total noninterest income for the second quarter of 2026 was $73.5 million, an increase of $4.6 million, or 6.7%, from the $68.9 million reported in the second quarter of 2025. Net gains on securities increased $7.4 million, primarily relating to the conversion of Visa Class B-2 shares during the quarter and related gain on sale and mark-to-market adjustments. Income from mortgage banking activities was $32.5 million in the second quarter of 2026, a decrease of $6.7 million, or 17.1%, from $39.2 million in the second quarter of 2025. Total production in the second quarter of 2026 amounted to $1.15 billion, compared with $1.27 billion in the same quarter of 2025, while gain on sale spread decreased to 2.04% in the second quarter of 2026, compared with 2.22% in the same quarter of 2025. The retail mortgage open pipeline finished the second quarter of 2026 at $609.3 million, compared with $632.7 million at March 31, 2026 and $719.1 million at the end of the second quarter of 2025. Service charges on deposit accounts increased $551,000, or 4.1%, to $14.0 million in the second quarter of 2026, compared with $13.5 million in the second quarter of 2025. The increase in service charges on deposit accounts was primarily attributable to growth in deposits. Income from equipment finance activity increased $2.4 million, or 36.2%, to $8.9 million for the second quarter of 2026, compared with $6.6 million during the second quarter of 2025. The increase in equipment finance activity was primarily related to increased non-insurance charges. Other noninterest income increased $1.1 million, or 12.9%, to $9.6 million for the second quarter of 2026, compared with $8.5 million during the second quarter of 2025. The increase in other noninterest income was primarily attributable to increases in BOLI income, inclusive of gain on proceeds, of $1.1 million, and increases in derivative fee income of $308,000 and commercial interchange income of $304,000. These increases were partially offset by a decrease in gain on sale of SBA loans of $840,000. 43 Noninterest Expense Total noninterest expense for the second quarter of 2026 increased $87.5 million, or 56.3%, to $242.7 million, compared with $155.3 million in the same quarter 2025. Salaries and employee benefits increased $2.2 million, or 2.4%, from $89.3 million in the second quarter of 2025 to $91.5 million in the second quarter of 2026, due primarily to increases in health insurance costs, annual merit increases, share-based compensation and 401(k) contributions, partially offset by decreases in employee incentives and mortgage commissions. Data processing and communication expenses increased $205,000, or 1.3%, to $15.6 million in the second quarter of 2026, compared with $15.4 million in the second quarter of 2025, with the increase primarily resulting from an increase in volume and continued technology investment. Advertising and marketing expense was $3.5 million in the second quarter of 2026, compared with $3.7 million in the second quarter of 2025. Amortization of intangible assets decreased $962,000, or 23.6%, from $4.1 million in the second quarter of 2025 to $3.1 million in the second quarter of 2026. This decrease was primarily related to a reduction in core deposit and customer relationship intangible amortization. Loan servicing expenses decreased $692,000, or 8.8%, from $7.9 million in the second quarter of 2025 to $7.2 million in the second quarter of 2026, primarily attributable to the sale of mortgage servicing rights throughout 2025, partially offset by additional mortgage loans serviced added from mortgage production over the previous year. The Company's litigation accrual increased $82.4 million to $82.5 million, compared with $121,000 in the second quarter of the previous year, due primarily to an accrual of $82.5 million related to a jury verdict in an employment case in California. Compared with the second quarter of 2025, legal and other professional fees and occupancy and equipment expenses increased $2.5 million and $1.2 million, respectively, while FDIC insurance and credit resolution expenses increased $538,000 and $141,000, respectively. Other noninterest expenses increased $282,000, or 1.8%, from $15.6 million in the second quarter of 2025 to $15.8 million in the second quarter of 2026. Income Taxes Income tax expense is influenced by the statutory rate, the amount of taxable income, the amount of tax-exempt income and the amount of nondeductible expenses. For the second quarter of 2026, the Company reported income tax expense of $14.6 million, compared with $32.9 million in the same period of 2025. The Company’s effective tax rate for the three months ended June 30, 2026 and 2025 was 22.1% and 23.0%, respectively. The decrease in the effective rate for the three months ended June 30, 2026 is primarily related to a decrease in state tax rates, net of federal benefit. 44 Results of Operations for the Six Months Ended June 30, 2026 and 2025 Consolidated Earnings and Profitability Ameris reported net income available to common shareholders of $161.9 million, or $2.40 per diluted share, for the six months ended June 30, 2026, compared with $197.8 million, or $2.87 per diluted share, for the same period in 2025. The Company’s return on average assets and average shareholders’ equity were 1.17% and 7.94%, respectively, in the six months ended June 30, 2026, compared with 1.51% and 10.41%, respectively, in the same period in 2025. Results for the first six months of 2026 include a litigation expense accrual of $82.5 million related to a jury verdict in an employment case in California, a $7.4 million gain on securities related to the conversion of Visa Class B-2 shares and related gain on sale and mark-to-market adjustments post-conversion and a gain on BOLI proceeds of $846,000. During the first six months of 2025, the Company recorded a gain on sale of mortgage servicing rights of $342,000, a $40,000 gain on securities, and an $11,000 gain on BOLI proceeds. Below is additional information regarding the retail banking activities, mortgage banking activities, warehouse lending activities and premium finance activities of the Company during the six months ended June 30, 2026 and 2025, respectively: Six Months Ended June 30, 2026 (dollars in thousands) Banking Division Retail Mortgage Division Warehouse Lending Division Premium Finance Division Total Interest income $ 506,226 $ 112,304 $ 39,159 $ 59,657 $ 717,346 Interest expense 82,559 79,632 22,740 35,495 220,426 Net interest income 423,667 32,672 16,419 24,162 496,920 Provision for loan losses 31,851 (272) 361 1,864 33,804 Noninterest income 73,360 68,467 1,590 35 143,452 Noninterest expense Salaries and employee benefits 132,914 43,405 1,012 5,529 182,860 Occupancy and equipment 22,753 1,334 15 78 24,180 Data processing and communications expenses 29,389 2,526 94 355 32,364 Other expenses 134,831 24,119 363 1,077 160,390 Total noninterest expense 319,887 71,384 1,484 7,039 399,794 Income before income tax expense 145,289 30,027 16,164 15,294 206,774 Income tax expense 31,935 6,305 3,395 3,201 44,836 Net income $ 113,354 $ 23,722 $ 12,769 $ 12,093 $ 161,938 Six Months Ended June 30, 2025 (dollars in thousands) Banking Division Retail Mortgage Division Warehouse Lending Division Premium Finance Division Total Interest income $ 472,530 $ 119,288 $ 33,374 $ 56,224 $ 681,416 Interest expense 96,816 75,413 20,381 35,154 227,764 Net interest income 375,714 43,875 12,993 21,070 453,652 Provision for loan losses 17,097 6,201 194 1,172 24,664 Noninterest income 57,999 72,455 2,447 33 132,934 Noninterest expense Salaries and employee benefits 124,717 45,353 1,170 4,683 175,923 Occupancy and equipment 20,351 1,640 14 73 22,078 Data processing and communications expenses 27,216 2,688 97 220 30,221 Other expenses 51,163 24,459 366 2,084 78,072 Total noninterest expense 223,447 74,140 1,647 7,060 306,294 Income before income tax expense 193,169 35,989 13,599 12,871 255,628 Income tax expense 44,821 7,558 2,856 2,624 57,859 Net income $ 148,348 $ 28,431 $ 10,743 $ 10,247 $ 197,769 45 Net Interest Income and Margin The following table sets forth the average balance, interest income or interest expense, and average yield/rate paid for each category of interest-earning assets and interest-bearing liabilities, net interest spread, and net interest margin on average interest-earning assets for the six months ended June 30, 2026 and 2025. Federally tax-exempt income is presented on a taxable-equivalent basis assuming a 21% federal tax rate. Six Months Ended June 30, 2026 2025 (dollars in thousands) Average Balance Interest Income/ Expense Average Yield/ Rate Paid Average Balance Interest Income/ Expense Average Yield/ Rate Paid Assets Interest-earning assets: Interest-bearing deposits in banks $ 881,633 $ 16,310 3.73% $ 965,930 $ 21,504 4.49% Investment securities - taxable 2,618,751 55,691 4.29% 2,058,241 39,188 3.84% Investment securities - nontaxable 45,077 958 4.29% 41,344 839 4.09% Loans held for sale 623,035 18,478 5.98% 648,607 20,623 6.41% Loans 21,770,247 627,811 5.82% 20,775,652 601,118 5.83% Total interest-earning assets 25,938,743 719,248 5.59% 24,489,774 683,272 5.63% Noninterest-earning assets 2,007,583 2,005,057 Total assets $ 27,946,326 $ 26,494,831 Liabilities and Shareholders’ Equity Interest-bearing liabilities: Interest-bearing deposits NOW accounts $ 4,203,754 $ 37,031 1.78% $ 3,963,995 $ 36,450 1.85% MMDA 7,131,112 93,807 2.65% 6,914,988 105,730 3.08% Savings accounts 767,621 1,367 0.36% 766,738 1,656 0.44% Retail CDs 2,259,840 37,489 3.35% 2,415,067 45,097 3.77% Brokered CDs 1,321,548 25,528 3.90% 1,054,409 23,078 4.41% Total interest-bearing deposits 15,683,875 195,222 2.51% 15,115,197 212,011 2.83% Non-deposit funding Securities sold under agreements to repurchase 1 — —% — — —% FHLB advances 1,022,245 19,361 3.82% 238,283 4,870 4.12% Other borrowings 9,833 288 5.91% 193,493 4,849 5.05% Subordinated deferrable interest debentures 134,789 5,555 8.31% 132,795 6,034 9.16% Total non-deposit funding 1,166,868 25,204 4.36% 564,571 15,753 5.63% Total interest-bearing liabilities 16,850,743 220,426 2.64% 15,679,768 227,764 2.93% Demand deposits 6,622,075 6,645,340 Other liabilities 358,164 337,948 Shareholders’ equity 4,115,344 3,831,775 Total liabilities and shareholders’ equity $ 27,946,326 $ 26,494,831 Interest rate spread 2.95% 2.70% Net interest income $ 498,822 $ 455,508 Net interest margin 3.88% 3.75% On a tax-equivalent basis, net interest income for the six months ended June 30, 2026 was $498.8 million, an increase of $43.3 million, or 9.51%, compared with $455.5 million reported in the same period of 2025. The increase in net interest income is primarily a result of downward pricing adjustments on deposits as market rates decreased, in addition to growth in average earning assets, partially offset by a decrease in asset yields. Average interest earning assets increased $1.45 billion, or 5.92%, from $24.49 billion in the first six months of 2025 to $25.94 billion for the first six months of 2026. This growth in interest-earning assets resulted primarily from increased investment in our bond portfolio and organic loan growth. The Company’s net interest margin during the first six months of 2026 was 3.88%, an increase of 13 basis points from 3.75% reported for the first six months of 2025. Loan production amounted to $11.8 billion during the first six months of 2026, with weighted average yields of 6.17%, compared with $9.8 billion and 6.80%, respectively, during the first six months of 2025. 46 Total interest income, on a tax-equivalent basis, increased to $719.2 million during the six months ended June 30, 2026, compared with $683.3 million in the same period of 2025. Yields on earning assets decreased to 5.59% during the first six months of 2026, compared with 5.63% reported in the same period of 2025. During the first six months of 2026, loans comprised 86.3% of average earning assets, compared with 87.5% in the same period of 2025. Yields on loans were relatively flat, decreasing to 5.82% during the six months ended June 30, 2026, compared with 5.83% in the same period of 2025. Yields on taxable investment securities increased to 4.29% during the six months ended June 30, 2026, compared with 3.84% in the same period of 2025. The yield on total interest-bearing liabilities decreased from 2.93% during the six months ended June 30, 2025 to 2.64% in the same period of 2026. Total funding costs, inclusive of noninterest-bearing demand deposits, decreased to 1.89% in the first six months of 2026, compared with 2.06% during the same period of 2025. Deposit costs decreased from 1.96% in the first six months of 2025 to 1.76% in the same period of 2026. Non-deposit funding costs decreased from 5.63% in the first six months of 2025 to 4.36% in the same period of 2026. Provision for Credit Losses The Company’s provision for credit losses during the six months ended June 30, 2026 amounted to $33.8 million, compared with $24.7 million in the six months ended June 30, 2025. This increase was primarily attributable to the updated economic forecast during the first six months of 2026, organic loan growth and a shift in the loan mix. The provision for credit losses for the first six months of 2026 was comprised of $33.8 million related to loans, $22,000 related to unfunded commitments and negative $7,000 related to other credit losses, compared with $19.6 million related to loans, $5.0 million related to unfunded commitments and negative $3,000 related to other credit losses for the same period in 2025. Non-performing assets as a percentage of total assets increased from 0.44% at December 31, 2025 to 0.47% at June 30, 2026. The increase in non-performing assets is primarily attributable to an increase in nonaccrual loans of $11.5 million, partially offset by a decrease in accruing loans delinquent 90 days or more of $128,000. Net charge-offs on loans during the first six months of 2026 were $22.4 million, or 0.21% of average loans on an annualized basis, compared with approximately $16.1 million, or 0.16%, in the first six months of 2025. The Company’s total allowance for credit losses on loans at June 30, 2026 was $359.5 million, or 1.62% of total loans, compared with $348.1 million, or 1.62% of total loans, at December 31, 2025. Noninterest Income Total noninterest income for the six months ended June 30, 2026 was $143.5 million, an increase of $10.5 million, or 7.9%, from the $132.9 million reported for the six months ended June 30, 2025. Net gains on securities increased to $7.4 million for the six months ended June 30, 2026, compared with a gain of $40,000 in the same period of 2025. This increase was primarily due to the conversion of Visa Class B-2 shares and related gain on sale and mark-to-market adjustments post-conversion in the second quarter of 2026. Income from mortgage banking activities decreased $4.9 million, or 6.6%, from $74.5 million in the first six months of 2025 to $69.5 million in the same period of 2026. Total production in the first six months of 2026 amounted to $2.24 billion, compared with $2.20 billion in the same period of 2025, while gain on sale spread decreased to 2.06% during the six months ended June 30, 2026, compared with 2.20% in the same period of 2025. The retail mortgage open pipeline was $609.3 million at June 30, 2026, compared with $701.9 million at December 31, 2025 and $719.1 million at June 30, 2025. Service charges on deposit accounts increased $1.1 million, or 4.1%, to $27.7 million during the first six months of 2026, compared with $26.6 million in the same period of 2025, primarily due to growth in deposits. Income from equipment finance activity increased $4.8 million, or 35.9%, to $18.0 million during the first six months of 2026, compared with $13.3 million during the same period of 2025 primarily due to increased non-insurance charges. Other noninterest income increased $2.4 million, or 14.9%, to $18.7 million for the first six months of 2026, compared with $16.3 million during the same period of 2025. The increase in other noninterest income was primarily attributable to an increase in BOLI income, inclusive of gain on proceeds, of $1.4 million and increases in derivative fee income of $674,000 and commercial interchange income of $567,000. These increases were partially offset by a decrease in gain on sale of SBA loans of $537,000 and a decrease in gain on sale of mortgage servicing rights of $342,000. 47 Noninterest Expense Total noninterest expenses for the six months ended June 30, 2026 increased $93.5 million, or 30.5%, to $399.8 million, compared with $306.3 million in the same period of 2025. Salaries and employee benefits increased $6.9 million, or 3.9%, from $175.9 million in the first six months of 2025 to $182.9 million in the same period of 2026, due primarily to health insurance costs, annual merit increases and share-based compensation, partially offset by a decrease in employee incentives. Occupancy and equipment expenses increased $2.1 million, or 9.5%, to $24.2 million in the first six months of 2026 from $22.1 million reported in the same period of 2025, primarily driven by increases in depreciation expense and building repairs and maintenance. Data processing and communications expenses increased $2.1 million, or 7.1%, to $32.4 million in the first six months of 2026, from $30.2 million reported in the same period of 2025, primarily due to increases in volume and continued technology investment. Advertising and marketing expense was $6.7 million for the first six months of 2026, relatively flat when compared with $6.6 million for the same period of 2025. Amortization of intangible assets decreased $1.7 million, or 20.4%, from $8.2 million in the first six months of 2025 to $6.5 million in the first six months of 2026. This decrease was primarily related to a reduction in core deposit intangible amortization. Loan servicing expenses decreased $1.1 million, or 7.2%, from $15.7 million in the first six months of 2025 to $14.6 million in the same period of 2026, primarily attributable to the sale of mortgage servicing rights throughout 2025, partially offset by additional mortgage loans serviced added from mortgage production over the previous year. The Company's litigation accrual increased $81.4 million to $82.6 million in the first six months of 2026, compared with $1.2 million in the same period of 2025, due primarily to an accrual of $82.5 million related to a jury verdict in an employment case in California. Compared with the first six months of 2025, legal and other professional fees increased $3.8 million, primarily related to defense costs for the California employment case noted above. Other noninterest expenses decreased $366,000, or 1.2%, from $30.9 million in the first six months of 2025 to $30.5 million in the same period of 2026, due primarily to decreases in deposit and debit card losses of $1.7 million, partially offset by an increase in tax and license expense of $1.2 million. Income Taxes Income tax expense is influenced by the statutory rate, the amount of taxable income, the amount of tax-exempt income and the amount of nondeductible expenses. For the six months ended June 30, 2026, the Company reported income tax expense of $44.8 million, compared with $57.9 million in the same period of 2025. The Company’s effective tax rate for the six months ended June 30, 2026 and 2025 was 21.7% and 22.6%, respectively. The decrease in the effective tax rate is primarily a result of increased tax benefit related to share-based compensation and a reduction in state tax rates. 48 Financial Condition as of June 30, 2026 Securities Debt securities classified as available-for-sale are recorded at fair value with unrealized holding gains and losses excluded from earnings and reported in accumulated other comprehensive income (loss), net of the related deferred tax effect. Securities available-for-sale may be bought and sold in response to changes in market conditions, including, but not limited to, fluctuations in interest rates, changes in securities' prepayment risk, increases in loan demand, general liquidity needs and positioning the portfolio to take advantage of market conditions that create more economically attractive returns. Debt securities which are classified as held-to-maturity are done so based on management's positive intent and ability to hold such securities to maturity and are carried at amortized cost. Restricted equity securities are classified as other investment securities and are carried at cost and are periodically evaluated for impairment based on the ultimate recovery of par value or cost basis. The amortization of premiums and accretion of discounts are recognized in interest income using methods approximating the interest method over the expected life of the securities. Realized gains and losses, determined on the basis of the cost of specific securities sold, are included in earnings on the trade date. The following table is a summary of our investment portfolio at the dates indicated: June 30, 2026 December 31, 2025 (dollars in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Securities available-for-sale U.S. Treasuries $ 584,558 $ 583,447 $ 653,888 $ 660,625 State, county and municipal securities 18,005 17,463 19,493 19,061 Corporate debt securities 2,894 2,452 6,395 5,875 SBA pool securities 11,146 10,519 12,795 12,208 Mortgage-backed securities 1,862,905 1,846,742 1,500,644 1,509,404 Total debt securities available-for-sale $ 2,479,508 $ 2,460,623 $ 2,193,215 $ 2,207,173 Securities held-to-maturity State, county and municipal securities $ 33,284 $ 28,518 $ 33,414 $ 29,273 Mortgage-backed securities 174,871 164,475 169,828 160,600 Total debt securities held-to-maturity $ 208,155 $ 192,993 $ 203,242 $ 189,873 49 The amounts of securities available-for-sale and held-to-maturity in each category as of June 30, 2026 are shown in the following table according to contractual maturity classifications: (i) one year or less; (ii) after one year through five years; (iii) after five years through ten years; and (iv) after ten years: U.S. Treasuries State, County and Municipal Securities Corporate Debt Securities (dollars in thousands)Securities available-for-sale (1) Amount Yield (2) Amount Yield (2)(3) Amount Yield (2) One year or less $ 174,785 4.01 % $ 1,009 3.80 % $ 500 5.31 % After one year through five years 358,910 3.57 9,665 4.06 492 4.68 After five years through ten years 49,752 4.36 6,789 3.94 — — After ten years — — — — 1,460 7.26 $ 583,447 3.77 % $ 17,463 4.00 % $ 2,452 6.47 % SBA Pool Securities Mortgage-Backed Securities (dollars in thousands)Securities available-for-sale (1) Amount Yield (2) Amount Yield (2) One year or less $ 449 1.99 % $ 22,632 2.47 % After one year through five years 709 3.45 243,586 3.45 After five years through ten years 8,347 2.60 162,733 4.43 After ten years 1,014 4.85 1,417,791 4.55 $ 10,519 2.84 % $ 1,846,742 4.37 % State, County and Municipal Securities Mortgage-Backed Securities (dollars in thousands)Securities held-to-maturity (1) Amount Yield (2)(3) Amount Yield (2) One year or less $ — — % $ 4,551 0.83 % After one year through five years — — 59,221 3.50 After five years through ten years 1,272 4.12 63,994 3.20 After ten years 32,012 3.93 47,105 3.63 $ 33,284 3.94 % $ 174,871 3.36 % (1)The amortized cost of securities held-to-maturity and fair value of securities available-for-sale are presented based on contractual maturities. Actual cash flows may differ from contractual maturities because borrowers may have the right to prepay obligations without prepayment penalties. (2)Yields were computed using coupon interest, adding discount accretion or subtracting premium amortization, as appropriate, on a ratable basis over the life of each security. The weighted average yield for each maturity range was computed using the amortized cost of each security in that range. (3)Yields on securities of state and political subdivisions are stated on a taxable-equivalent basis, using a tax rate of 21%. Loans and Allowance for Credit Losses At June 30, 2026, gross loans outstanding (including loans and loans held for sale) were $22.66 billion, an increase of $523.4 million from $22.14 billion at December 31, 2025. Loans increased $664.3 million, or 3.1%, from $21.51 billion at December 31, 2025 to $22.18 billion at June 30, 2026. Loans held for sale decreased from $623.2 million at December 31, 2025 to $482.2 million at June 30, 2026 primarily in our mortgage division. At the end of the second quarter of 2026, the ACL on loans totaled $359.5 million, or 1.62% of loans, compared with $348.1 million, or 1.62% of loans, at December 31, 2025. Our nonaccrual loans increased from $109.1 million at December 31, 2025 to $120.5 million at June 30, 2026. For the first six months of 2026, our net charge-off ratio as a percentage of average loans increased to 0.21%, compared with 0.16% for the first six months of 2025. The total provision for credit losses for the first six months of 2026 was $33.8 million, compared with a provision of $24.7 million recorded for the first six months of 2025. Our ratio of total nonperforming assets to total assets increased three basis points from 0.44% at December 31, 2025 to 0.47% at June 30, 2026. 50 The following table presents an analysis of the allowance for credit losses on loans, provision for credit losses on loans and net charge-offs as of and for the six months ended June 30, 2026 and 2025: Six Months Ended June 30, (dollars in thousands) 2026 2025 Balance of allowance for credit losses on loans at beginning of period $ 348,141 $ 338,084 Provision charged to operating expense 33,789 19,629 Charge-offs: Commercial and industrial 19,245 22,376 Consumer 8,857 1,853 Premium finance 4,315 5,048 Real estate – commercial and farmland 1,561 — Real estate – residential 165 333 Total charge-offs 34,143 29,610 Recoveries: Commercial and industrial 6,851 8,386 Consumer 899 546 Premium finance 3,829 4,333 Real estate – construction and development 2 9 Real estate – commercial and farmland 52 102 Real estate – residential 93 88 Total recoveries 11,726 13,464 Net charge-offs 22,417 16,146 Balance of allowance for credit losses on loans at end of period $ 359,513 $ 341,567 The following table presents an analysis of the allowance for credit losses on loans and net charge-offs for loans held for investment: As of and for the Six Months Ended (dollars in thousands) June 30, 2026 June 30, 2025 Allowance for credit losses on loans at end of period $ 359,513 $ 341,567 Net charge-offs for the period 22,417 16,146 Loan balances: End of period 22,177,865 21,041,497 Average for the period 21,770,247 20,775,652 Net charge-offs as a percentage of average loans (annualized) 0.21 % 0.16 % Allowance for credit losses on loans as a percentage of end of period loans 1.62 % 1.62 % 51 Loans Loans are stated at amortized cost. Balances within the major loans receivable categories are presented in the following table: (dollars in thousands) June 30, 2026 December 31, 2025 Commercial and industrial $ 3,453,501 $ 3,288,505 Consumer 157,252 180,010 Mortgage warehouse 1,345,808 1,150,782 Municipal 415,396 434,234 Premium finance 1,534,445 1,306,267 Real estate – construction and development 1,702,983 1,469,250 Real estate – commercial and farmland 9,243,359 9,311,405 Real estate – residential 4,325,121 4,373,069 $ 22,177,865 $ 21,513,522 Commercial real estate (“CRE”) represents the Company's largest loan category. The Company regularly monitors its CRE portfolio against regulatory concentration limits. Additionally, the Company manages its risk in the CRE portfolio through, among other things, established policy limits on loan-to-value or loan-to-cost at or below applicable regulatory guidance, use of internal lending limits on single loans to minimize exposure to a given project, annual reviews of borrowers and guarantors above certain total credit exposure thresholds, minimum required debt service coverage ratios and borrower equity levels. Exceptions to policy must be approved by an individual or committee with appropriate approval authority. A summary of the Company's CRE portfolio by loan type and credit quality indicator as of June 30, 2026 and December 31, 2025 is below: June 30, 2026(dollars in thousands) Pass Other Assets Especially Mentioned Substandard Total Farmland $ 124,238 $ — $ 951 $ 125,189 Multifamily residential 2,009,863 — — 2,009,863 Owner occupied CRE 1,865,477 9,296 20,390 1,895,163 Non-owner occupied CRE 5,155,722 33,243 24,179 5,213,144 Total real estate - commercial and farmland $ 9,155,300 $ 42,539 $ 45,520 $ 9,243,359 December 31, 2025(dollars in thousands) Pass Other Assets Especially Mentioned Substandard Total Farmland $ 125,224 $ 2,113 $ 2,153 $ 129,490 Multifamily residential 2,044,617 — — 2,044,617 Owner occupied CRE 1,800,017 6,546 24,205 1,830,768 Non-owner occupied CRE 5,264,387 23,575 18,568 5,306,530 Total real estate - commercial and farmland $ 9,234,245 $ 32,234 $ 44,926 $ 9,311,405 52 Investor CRE, which includes multifamily residential and non-owner occupied CRE loans, has several dynamics which individually, or in combination, pose potential challenges to the portfolio. These include levels of interest rates above those at origination for loan renewals and changes to occupancy rates as firms reevaluate space needs in light of factors such as the expansion of hybrid and remote work. The primary repayment source for these loans is cash flows from the securing property. The Company in the normal course performs periodic evaluations of its portfolio for continued soundness and appropriate risk ratings. These reviews include evaluation of current financials, stressed cash flows at increased interest rates and evaluation of property values at various occupancy levels and cap rates. The Company's Investor CRE portfolio continues to perform favorably with modest levels of past-due loans, such that past-due loans represented approximately one basis point of Investor CRE loans at June 30, 2026. The Company's multifamily residential portfolio is diversified geographically with the majority residing within our five-state footprint. Below is a summary of the multifamily residential portfolio by significant metropolitan statistical areas (“MSAs”) or state as of June 30, 2026 and December 31, 2025: June 30, 2026 (dollars in thousands) Atlanta Other Georgia Tampa Jacksonville Orlando Other Florida Multifamily residential $ 439,584 $ 107,065 $ 205,056 $ 165,098 $ 212,226 $ 180,995 (dollars in thousands) Charleston SC Other South Carolina North Carolina Alabama Other Total Multifamily residential $ 63,057 $ 135,142 $ 249,776 $ 37,753 $ 214,111 $ 2,009,863 December 31, 2025 (dollars in thousands) Atlanta Other Georgia Tampa Jacksonville Orlando Other Florida Multifamily residential $ 344,769 $ 198,178 $ 204,877 $ 210,633 $ 213,281 $ 189,215 (dollars in thousands) Charleston SC Other South Carolina North Carolina Alabama Other Total Multifamily residential $ 63,369 $ 124,759 $ 233,967 $ 52,989 $ 208,580 $ 2,044,617 53 The Company's non-owner occupied portfolio is well diversified. Below is a summary of the non-owner occupied CRE portfolio by property type and significant MSAs or state as of June 30, 2026 and December 31, 2025: June 30, 2026 (dollars in thousands) Atlanta Other Georgia Tampa Jacksonville Orlando Other Florida Retail $ 549,432 $ 196,281 $ 54,302 $ 237,615 $ 202,661 $ 215,818 Office 469,989 24,594 44,788 62,530 131,496 86,532 Warehouse / industrial 189,676 45,178 58,961 45,237 66,787 68,173 Hotel 43,697 36,251 35,192 83,545 35,225 71,452 Mini storage warehouse 43,592 33,515 9,527 27,325 38,758 33,742 Assisted living facilities 36,844 — 4,758 — — 4,682 Miscellaneous 24,980 9,481 1,688 13,882 14,624 10,740 Total non-owner occupied CRE $ 1,358,210 $ 345,300 $ 209,216 $ 470,134 $ 489,551 $ 491,139 (dollars in thousands) Charleston SC Other South Carolina North Carolina Alabama Other Total Retail $ 77,726 $ 270,502 $ 236,027 $ 100,479 $ 186,404 $ 2,327,247 Office 65,941 112,716 92,106 4,051 19,776 1,114,519 Warehouse / industrial 61,867 115,651 77,319 570 233,911 963,330 Hotel — 61,831 20,687 2,084 28,357 418,321 Mini storage warehouse — 18,166 12,614 405 34,054 251,698 Assisted living facilities — 406 — — 309 46,999 Miscellaneous 3,080 4,693 7,214 — 648 91,030 Total non-owner occupied CRE $ 208,614 $ 583,965 $ 445,967 $ 107,589 $ 503,459 $ 5,213,144 December 31, 2025 (dollars in thousands) Atlanta Other Georgia Tampa Jacksonville Orlando Other Florida Retail $ 483,975 $ 197,111 $ 54,797 $ 241,206 $ 219,334 $ 239,543 Office 509,486 24,417 87,939 69,560 133,779 87,559 Warehouse / industrial 316,408 16,880 63,108 48,192 56,425 83,541 Hotel 45,870 22,632 22,328 85,053 42,735 72,979 Mini storage warehouse 44,718 33,832 2,030 27,886 39,343 33,872 Assisted living facilities 37,538 — 4,761 — 18 6,695 Miscellaneous 28,344 10,383 1,698 11,612 15,648 12,470 Total non-owner occupied CRE $ 1,466,339 $ 305,255 $ 236,661 $ 483,509 $ 507,282 $ 536,659 (dollars in thousands) Charleston SC Other South Carolina North Carolina Alabama Other Total Retail $ 108,550 $ 210,751 $ 218,101 $ 97,518 $ 183,152 $ 2,254,038 Office 64,662 115,476 95,186 4,115 65,644 1,257,823 Warehouse / industrial 51,969 87,403 77,754 8,105 187,806 997,591 Hotel — 62,876 20,893 2,202 25,812 403,380 Mini storage warehouse — 19,940 12,581 421 36,586 251,209 Assisted living facilities — 422 — — 312 49,746 Miscellaneous 3,120 992 7,798 — 678 92,743 Total non-owner occupied CRE $ 228,301 $ 497,860 $ 432,313 $ 112,361 $ 499,990 $ 5,306,530 54 Non-Performing Assets Non-performing assets include nonaccrual loans, accruing loans contractually past due 90 days or more, repossessed personal property, and OREO. Loans are placed on nonaccrual status when management has concerns relating to the ability to collect the principal and interest and generally when such loans are 90 days or more past due. Management performs a detailed review and valuation assessment of non-performing loans over $250,000 on a quarterly basis. When a loan is placed on nonaccrual status, any interest previously accrued but not collected is reversed against current income. Nonaccrual loans totaled $120.5 million at June 30, 2026, an increase of $11.5 million, or 10.5%, from $109.1 million at December 31, 2025. Accruing loans delinquent 90 days or more totaled $8.4 million at June 30, 2026, a decrease of $128,000, or 1.5%, compared with $8.5 million at December 31, 2025. At June 30, 2026, OREO totaled $4.0 million, an increase of $1.1 million, or 38.6%, compared with $2.9 million at December 31, 2025. Management regularly assesses the valuation of OREO through periodic reappraisal and through inquiries received in the marketing process. At the end of the second quarter of 2026, total non-performing assets as a percent of total assets was up three basis points from 0.44% at December 31, 2025 to 0.47% at June 30, 2026. Non-performing assets at June 30, 2026 and December 31, 2025 were as follows: (dollars in thousands) June 30, 2026 December 31, 2025 Nonaccrual loans(1) $ 120,526 $ 109,058 Accruing loans delinquent 90 days or more 8,364 8,492 Repossessed assets — 4 Other real estate owned 4,043 2,918 Total non-performing assets $ 132,933 $ 120,472 (1) Included in nonaccrual loans were $33.7 million and $24.3 million of serviced GNMA-guaranteed nonaccrual loans at June 30, 2026 and December 31, 2025, respectively. Commercial Lending Practices The federal bank regulatory agencies previously issued interagency guidance on commercial real estate lending and prudent risk management practices. This guidance defines CRE loans as loans secured by raw land, land development and construction (including one-to-four family residential construction), multifamily property and nonfarm nonresidential property where the primary or a significant source of repayment is derived from rental income associated with the property, excluding owner-occupied properties (loans for which 50% or more of the source of repayment is derived from the ongoing operations and activities conducted by the party, or affiliate of the party, who owns the property) or the proceeds of the sale, refinancing or permanent financing of the property. Loans for owner-occupied CRE are generally excluded from the CRE guidance. The CRE guidance is applicable when either: (1)total loans for construction, land development, and other land, net of owner-occupied loans, represent 100% or more of a tier I capital plus allowance for credit losses on loans and leases; or (2)total loans secured by multifamily and nonfarm nonresidential properties and loans for construction, land development, and other land, net of owner-occupied loans, represent 300% or more of a bank’s tier I capital plus allowance for credit losses on loans and leases. Banks that are subject to the CRE guidance criteria are required to implement enhanced strategic planning, CRE underwriting policies, risk management and internal controls, portfolio stress testing, risk exposure limits, and other policies, including management compensation and incentives, to address the CRE risks. Higher allowances for loan losses and capital levels may also be appropriate. 55 As of June 30, 2026, the Company exhibited a concentration in the CRE loan category based on Federal Reserve Call codes. Some key risks associated with CRE lending are the following: (1)within CRE loans, construction and development loans are somewhat dependent upon continued strength in demand for residential real estate, which is reliant on favorable real estate mortgage rates and changing population demographics; (2)on average, CRE loan sizes are generally larger than non-CRE loan types; and (3)certain construction and development loans may be less predictable and more difficult to evaluate and monitor. The following table outlines CRE loan categories and CRE loans as a percentage of total loans as of June 30, 2026 and December 31, 2025. The loan categories and concentrations below are based on Federal Reserve Call codes: June 30, 2026 December 31, 2025 (dollars in thousands) Balance % of Total Loans Balance % of Total Loans Construction and development loans $ 1,702,983 8% $ 1,469,250 7% Multifamily loans 2,009,863 9% 2,044,617 9% Nonfarm nonresidential loans (excluding owner-occupied) 5,213,144 23% 5,306,530 25% Total CRE Loans (excluding owner-occupied) 8,925,990 40% 8,820,397 41% All other loan types 13,251,875 60% 12,693,125 59% Total Loans $ 22,177,865 100% $ 21,513,522 100% The following table outlines the percentage of construction and development loans and total CRE loans, net of owner-occupied loans, to the Bank’s Tier 1 capital plus allowance for credit losses on loans and leases, and the Company’s internal concentration limits as of June 30, 2026 and December 31, 2025: Internal Limit Actual June 30, 2026 December 31, 2025 Construction and development loans 100% 49% 43% Total CRE loans (excluding owner-occupied) 300% 261% 262% Derivative Instruments and Hedging Activities The Company has forward contracts and IRLCs to economically hedge changes in the value of the mortgage inventory due to changes in market interest rates. The fair value of IRLC instruments amounted to an asset of $3.3 million and $3.4 million at June 30, 2026 and December 31, 2025, respectively. At June 30, 2026 and December 31, 2025, forward contracts were recorded as a liability of $483,000 and $2.8 million, respectively. The Company also enters into interest rate derivative agreements to facilitate the risk management strategies of certain clients. The Company mitigates this risk by entering into equal and offsetting interest rate derivative agreements with highly rated third-party financial institutions. The fair value of these instruments amounted to an asset of $7.3 million and $7.4 million at June 30, 2026 and December 31, 2025, respectively, and a liability of $7.4 million and $7.6 million at June 30, 2026 and December 31, 2025, respectively. Deposits Total deposits at the Company increased $211.6 million, or 0.9%, to $22.59 billion at June 30, 2026, compared with $22.38 billion at December 31, 2025. Noninterest-bearing deposits increased $356.7 million, or 5.6%, and interest-bearing deposits decreased $145.2 million, or 0.9%, during the first six months of 2026. At June 30, 2026, the Company had approximately $1.52 billion in short-term brokered CDs, compared with $1.20 billion at December 31, 2025. As of June 30, 2026 and December 31, 2025, the Company had estimated uninsured deposits of $10.34 billion and $10.67 billion, respectively. These estimates were derived using the same methodologies and assumptions used for the Bank's regulatory reporting. Approximately $3.20 billion, or 30.9%, of the uninsured deposits at June 30, 2026 were for municipalities which are collateralized with investment securities or letters of credit. 56 Capital Common Stock Repurchase Program On September 19, 2019, the Company announced that its Board of Directors authorized the Company to repurchase up to $100.0 million of its outstanding common stock through October 31, 2020. The Board has subsequently extended the share repurchase program each year since that original authorization, with the most recent extension, which also included the increase in the size of the program to $200.0 million, being announced on October 20, 2025. As a result, the Company is currently authorized to engage in additional share repurchases up to $200.0 million through October 31, 2026. Repurchases of shares must be made in accordance with applicable securities laws and may be made from time to time in the open market or by negotiated transactions. The amount and timing of repurchases will be based on a variety of factors, including share acquisition price, regulatory limitations and other market and economic factors. The program does not require the Company to repurchase any specific number of shares. As of June 30, 2026, an aggregate of $134.6 million, or 1,740,798 shares of the Company's common stock, had been repurchased under the program's October 20, 2025 renewal. Capital Management Capital management consists of providing equity to support both current and anticipated future operations. The capital resources of the Company are monitored on a periodic basis by state and federal regulatory authorities. Under the regulatory capital frameworks adopted by the Federal Reserve Board (the "FRB") and the Federal Deposit Insurance Corporation (the "FDIC"), the Company and the Bank must each maintain a common equity Tier 1 capital to total risk-weighted assets ratio of at least 4.5%, a Tier 1 capital to total risk-weighted assets ratio of at least 6%, a total capital to total risk-weighted assets ratio of at least 8% and a leverage ratio of Tier 1 capital to average total consolidated assets of at least 4%. The Company and the Bank are also required to maintain a capital conservation buffer of common equity Tier 1 capital of at least 2.5% of risk-weighted assets in addition to the minimum risk-based capital ratios in order to avoid certain restrictions on capital distributions and discretionary bonus payments. As of June 30, 2026, under the regulatory capital standards, the Bank was considered “well capitalized” under all capital measurements. The following table sets forth the regulatory capital ratios for the Company and the Bank at June 30, 2026 and December 31, 2025: June 30, 2026 December 31, 2025 Tier 1 Leverage Ratio (tier 1 capital to average assets) Consolidated 11.25% 11.44% Ameris Bank 11.41% 11.67% CET1 Ratio (common equity tier 1 capital to risk weighted assets) Consolidated 12.84% 13.17% Ameris Bank 13.01% 13.43% Tier 1 Capital Ratio (tier 1 capital to risk weighted assets) Consolidated 12.84% 13.17% Ameris Bank 13.01% 13.43% Total Capital Ratio (total capital to risk weighted assets) Consolidated 14.66% 15.01% Ameris Bank 14.27% 14.69% Interest Rate Sensitivity and Liquidity The Company’s primary market risk exposures are credit risk, interest rate risk, and liquidity risk. The Bank operates under an Asset Liability Management Policy approved by the Company’s Board of Directors and the ALCO Committee. The policy outlines limits on interest rate risk in terms of changes in net interest income and changes in the net market values of assets and liabilities over certain changes in interest rate environments. These measurements are made through a simulation model which projects the impact of changes in interest rates on the Bank’s assets and liabilities. The policy also outlines responsibility for monitoring interest rate risk, and the process for the approval, implementation and monitoring of interest rate risk strategies to achieve the Bank’s interest rate risk objectives. 57 The ALCO Committee is comprised of senior officers of Ameris. The ALCO Committee makes all strategic decisions with respect to the sources and uses of funds that may affect net interest income, including net interest spread and net interest margin. The objective of the ALCO Committee is to identify the interest rate, liquidity and market value risks of the Company’s balance sheet and use reasonable methods approved by the Company’s Board of Directors and executive management to minimize those identified risks. The normal course of business activity exposes the Company to interest rate risk. Interest rate risk is managed within an overall asset and liability framework for the Company. The principal objectives of asset and liability management are to predict the sensitivity of net interest spreads to potential changes in interest rates, control risk and enhance profitability. Funding positions are kept within predetermined limits designed to properly manage risk and liquidity. The Company employs sensitivity analysis in the form of a net interest income simulation to help characterize the market risk arising from changes in interest rates. In addition, fluctuations in interest rates usually result in changes in the fair market value of the Company’s financial instruments, cash flows and net interest income. The Company’s interest rate risk position is managed by the ALCO Committee. The Company uses a simulation modeling process to measure interest rate risk and evaluate potential strategies. Interest rate scenario models are prepared using software created and licensed from an outside vendor. The Company’s simulation includes all financial assets and liabilities. Simulation results quantify interest rate risk under various interest rate scenarios. Management then develops and implements appropriate strategies. The ALCO Committee has determined that an acceptable level of interest rate risk would be for net interest income to increase/decrease no more than 20% given a change in selected interest rates of 200 basis points over any 24-month period. Liquidity management involves the matching of the cash flow requirements of customers, who may be either depositors desiring to withdraw funds or borrowers needing assurance that sufficient funds will be available to meet their credit needs, and the ability of Ameris to manage those requirements. The Company strives to maintain an adequate liquidity position by managing the balances and maturities of interest-earning assets and interest-bearing liabilities so that the balance it has in short-term assets at any given time will adequately cover any reasonably anticipated immediate need for funds. Additionally, the Bank maintains relationships with correspondent banks, which could provide funds on short notice, if needed. The Company has invested in FHLB stock for the purpose of establishing credit lines with the FHLB. The credit availability to the Bank is equal to 30% of the Bank’s total assets as reported on the most recent quarterly financial information submitted to the regulators subject to the pledging of sufficient collateral. At June 30, 2026 and December 31, 2025, the net carrying value of the Company’s other borrowings was $1.25 billion and $558.0 million, respectively. At June 30, 2026, the Company had availability with the FHLB and FRB Discount Window of $2.46 billion and $2.37 billion, respectively. The following liquidity ratios compare certain assets and liabilities to total deposits or total assets: June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 Investment securities available-for-sale to total deposits 10.89% 10.40% 9.86% 9.59% 8.53% Loans (net of unearned income) to total deposits 98.19% 96.43% 96.15% 95.64% 95.94% Interest-earning assets to total assets 92.71% 92.76% 92.56% 92.60% 92.29% Interest-bearing deposits to total deposits 69.97% 70.19% 71.28% 69.60% 68.99% The liquidity resources of the Company are monitored continually by the ALCO Committee and on a periodic basis by state and federal regulatory authorities. As determined under guidelines established by these regulatory authorities, the Company’s and the Bank’s liquidity ratios at June 30, 2026 were considered satisfactory. The Company is aware of no events or trends likely to result in a material change in liquidity.