News Release

For more information contact:

Dennis J. Zember Jr.

Executive Vice President & CFO

(229) 890-1111

AMERIS BANCORP REPORTS NET INCOME

OF $3.1 MILLION FOR SECOND QUARTER OF 2008

July 15, 2008

AMERIS BANCORP (NASDAQ-GS: ABCB), Moultrie, Georgia, reported net income of $3.1 million, or $0.23 per share, for the quarter ended June 30, 2008, compared to net income for the same quarter in 2007 of $5.4 million, or $0.39 per share.  Net income for the year-to-date period totaled $6.1 million, or $0.45 per share, compared to $10.4 million, or $0.76 per share for the same period in 2007.  Continued weakness in general economic conditions in several of the Company’s markets led to higher levels of loan provisions and negatively impacted the results for both the quarter and year-to-date period.  Commenting on the quarter’s results, Edwin W. Hortman, Jr. said, “Given the current operating environment, I am encouraged by our Company’s performance.  During the most recent quarter, we dealt quickly and aggressively with credit quality issues and recorded provisions at levels that should not persist.  We continue to experience dilution from the investment in our De Novo strategy and expect profitability to improve significantly as we move forward.  Lastly, despite four quarters in this difficult environment, Ameris Bank has protected its capital base and remains well capitalized with approximately $30 million of excess capital.”

Provision for Loan Losses and Credit Quality

The Company’s provision for loan losses during the second quarter amounted to $3.7 million, an increase of $2.8 million over the $936,000 recorded in the second quarter of 2007.  Similarly, provision for loan losses for the year-to-date period increased $5.5 million to $6.9 million for the first six months of 2008 compared to 2007.  The high levels of provision for loan losses reflect the Company’s efforts to quickly address problem credits and are the result of very weak real estate conditions in a few of the Company’s markets.  As in previous quarters, the majority of the deterioration in credit quality is concentrated in a small number of larger credits.  The Company continues to benefit from a loan portfolio that is well diversified over four states and various loan categories.

Non-performing assets increased slightly during the current quarter to 2.09% of total loans, compared to 2.00% for the first quarter of 2008, and 1.57% at December 31, 2007.  Net charge-offs on loans during the second quarter of 2008 were similar to levels experienced during the first quarter of 2008 at 0.75% of total loans.  The Company’s reserve for loan losses at June 30, 2008 was flat compared to December 31, 2007, at 1.71% of total loans.

Trends in Net Interest Margin

In spite of drastically lower short-term rates and intense competition for core deposits, the Company’s net interest margin declined only slightly during the second quarter of 2008 to 3.96%, compared to 4.03% in the same quarter in 2007.  For the six-month period ending June 30, 2008, the Company’s net interest margin was 3.94%, compared to 4.08% in the same period in 2007.

Loan yields during the quarter decreased to 6.97%, compared to 8.46% in the same quarter in 2007.  In the most recent quarter, loan yields decreased from the 7.56% reported in the first quarter of 2008.  This decline in the most recent quarter was partially attributed to accelerated renegotiation of interest rates in the Company’s fixed rate loan portfolio as customers have opportunities to significantly reduce expenses or accelerate repayment of principal.

The Company’s cost of funds during the current quarter was 2.74%, compared to 3.84% in the same quarter in 2007, and 3.30% in the first quarter of 2008.  During the quarter, deposit costs declined to 2.80% from 3.68% in the same quarter in 2007 and from 3.25% in the first quarter of 2008.  The decline against the linked quarter resulted from continued repricing of all deposit accounts but the majority of the savings resulted from material savings on time deposit maturities.  Non-deposit borrowing costs also declined in the second quarter of 2008 to 2.10% from 5.81% in the second quarter of 2007 due to the Company’s restructure of these borrowings and the use of interest rate floors on several of the advances.  Efforts continue to reduce interest expense and are focused primarily on time deposit maturities and improving the Company’s overall funding mix

Operating Income and Operating Expense Trends

For the year-to-date period ending June 30, 2008, net interest income increased 1.6% to $37.5 million, when compared to net interest income for the year-to-date period ending June 30, 2007.  Non-interest income increased 17.4% to $5.3 million during the second quarter of 2008, when compared to the same quarter in 2007.  Continued growth in service charges and mortgage fees led to the increase in non-interest income.  Service charges on deposit accounts increased 19.3% to $3.7 million in the current quarter, when compared to the second quarter of 2007.  Income from mortgage loan activities also increased primarily as a result of hiring and training efforts during the last half of 2007.  Mortgage income rose to $855,000, an increase of 6.9% over the second quarter of 2007.  The Company’s mortgage lending activities do not subject the Company to appreciably higher levels of risk, as all loans are closed with guaranteed takeouts and are underwritten by the purchaser.

Operating expense increased during the quarter by 16.6% to $16.0 million, when compared to the same quarter in 2007.  Year to date, operating expenses increased to $31.6 million, an increase of 11.9% when compared to the same period in 2007.  As stated in past quarters, increases in salaries and benefits as well as in occupancy and equipment are largely the result of the Company’s expansion efforts.  While meaningful accretion to profitability levels and earnings per share are not expected for the next several quarters, the Company does not foresee additional dilution to current profitability and earnings levels.

Ameris Bancorp is headquartered in Moultrie, Georgia, and at the end of the most recent quarter, had 48 locations in Georgia, Alabama, northern Florida and South Carolina.

********************************************************************************************Ameris Bancorp Common Stock is quoted on the NASDAQ Global Select Market under the symbol “ABCB”. The preceding release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words “believe”, “estimate”, “expect”, “intend”, “anticipate” and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates which they were made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors. Readers are cautioned not to place undue reliance on these forward-looking statements.

-2-

AMERIS BANCORP

FINANCIAL HIGHLIGHTS

(unaudited)
(dollars in thousands except per share data and FTE headcount)
	Three Months Ended															Six Months Ended
	June			Mar.			Dec.			Sept			June			June			June
	2008			2008			2007			2007			2007			2008			2007
EARNINGS
Net Income	$	3,149		$	2,966		$	1,196		$	3,561		$	5,372		$	6,115		$	10,396
PER COMMON SHARE DATA
Earnings per share:
Basic		0.23			0.22			0.09			0.26			0.40			0.45			0.77
Diluted		0.23			0.22			0.09			0.26			0.39			0.45			0.76
Cash Dividends per share		0.14			0.14			0.14			0.14			0.14			0.28			0.28
Book value per share (period end)		14.20			14.48			14.12			13.93			13.60			14.20			13.60
Tangible book value per share (period end)		9.84			10.11			9.72			9.51			9.16			9.84			9.16
Weighted average number of shares:
Basic		13,564,337			13,550,744			13,485,765			13,501,663			13,485,683			13,557,704			13,464,766
Diluted		13,563,032			13,559,761			13,573,626			13,620,069			13,663,072			13,561,397			13,665,050
Period-end number of shares		13,564,032			13,556,770			13,539,985			13,539,195			13,541,476			13,564,032			13,541,476
Market data:
High closing price		16.26			16.41			18.67			23.05			25.58			16.26			28.15
Low closing price		8.70			12.49			13.73			17.72			21.76			8.70			21.76
Period end closing price		8.70			16.06			16.85			18.08			22.47			8.70			22.47
Average daily volume		62,739			61,780			51,604			50,547			38,941			62,271			40,017
PERFORMANCE RATIOS
Return on average assets		0.59	%		0.56	%		0.23	%		0.68	%		1.06	%		0.58	%		1.04	%
Return on average equity		6.58	%		6.15	%		2.48	%		7.54	%		11.64	%		6.42	%		11.43	%
Earning asset yield (TE)		6.64	%		7.17	%		7.66	%		7.90	%		7.80	%		6.91	%		7.84	%
Total cost of funds		2.74	%		3.30	%		3.79	%		3.90	%		3.84	%		3.02	%		3.81	%
Net interest margin (TE)		3.96	%		3.91	%		3.92	%		4.06	%		4.03	%		3.94	%		4.08	%
Non-interest income excluding securities transactions,
as a percent of total revenue (TE)		13.98	%		12.33	%		10.09	%		10.48	%		11.10	%		13.14	%		11.12	%
Efficiency ratio		65.50	%		67.12	%		67.21	%		63.97	%		59.83	%		66.29	%		61.49	%
CAPITAL ADEQUACY
Equity to assets		8.78	%		9.27	%		9.06	%		8.96	%		8.97	%		8.78	%		8.97	%
Tangible common equity to assets		6.26	%		6.66	%		6.41	%		6.30	%		6.23	%		6.26	%		6.23	%
OTHER PERIOD-END DATA
FTE Headcount		651			634			620			621			604			651			604
Assets per FTE	$	3,369		$	3,341		$	3,407		$	3,390		$	3,398		$	3,369		$	3,398
Branch locations		48			45			46			47			46			48			46
Deposits per branch location	$	36,893		$	39,651		$	38,201		$	36,345		$	36,859		$	36,893		$	36,859

-3-

(unaudited)
(dollars in thousands except per share data and FTE headcount)
	Three Months Ended														Six Months Ended
	June			Mar.		Dec.			Sept			June			June			June
	2008			2008		2007			2007			2007			2008			2007
INCOME STATEMENT
Interest income
Interest and fees on loans	$	28,339		$	30,134	$	32,999		$	33,471		$	31,565		$	58,473		$	62,400
Interest on taxable securities		3,645			3,583		3,576			3,628			3,539			7,228			6,966
Interest on nontaxable securities		173			172		158			175			176			346			355
Interest on deposits in other banks		91			200		259			332			669			291			1,715
Interest on federal funds sold		(0	)		-		(20	)		(15	)		(10	)		(0	)		77
Total interest income		32,249			34,089		36,972			37,591			35,940			66,338			71,513
Interest expense
Interest on deposits		12,314			14,142		15,620			15,945			15,611			26,456			30,815
Interest on other borrowings		879			1,487		2,367			2,493			1,973			2,366			3,759
Total interest expense		13,193			15,629		17,987			18,438			17,583			28,822			34,573
Net interest income		19,056			18,460		18,984			19,153			18,356			37,515			36,940
Provision for loan losses		3,720			3,200		6,914			2,964			936			6,920			1,444
Net interest income after provision for loan losses		15,336			15,260		12,071			16,189			17,420			30,595			35,496
Noninterest income
Service charges on deposit accounts		3,664			3,316		3,310			3,199			3,071			6,980			5,945
Mortgage banking activity		855			869		827			783			800			1,725			1,483
Other service charges, commissions and fees		220			278		942			230			460			498			805
Gain(loss) on sale of securities		-			-		(236	)		(69	)		8			-			8
Other non-interest income		574			379		(677	)		277			187			953			764
Total noninterest income		5,313			4,842		4,167			4,420			4,525			10,156			9,004
Noninterest expense
Salaries and employee benefits		8,660			8,618		7,122			7,430			7,485			17,278			15,292
Equipment and occupancy expense		2,103			1,992		2,118			1,850			1,811			4,095			3,571
Amortization of intangible assets		293			293		324			324			324			585			648
Data Processing Fees		638			604		598			607			581			1,241			1,374
Business Restructuring		-			-		-			-			-			-			-
Other operating expenses		4,268			4,133		5,398			4,868			3,489			8,401			7,367
Total noninterest expense		15,961			15,640		15,561			15,079			13,690			31,601			28,253
Operating Profit		4,688			4,462		676			5,530			8,255			9,151			16,247
Provision for income taxes		1,538			1,496		(520	)		1,968			2,884			3,034			5,852
Net Income	$	3,149		$	2,966	$	1,196		$	3,561		$	5,372		$	6,115		$	10,396
Diluted earnings per share		0.23			0.22		0.09			0.26			0.39			0.45			0.76

-4-

(unaudited)
(dollars in thousands except per share data and FTE headcount)
	Three Months Ended
	June			Mar.			Dec.			Sept.			June
	2008			2008			2007			2007			2007
PERIOD-END BALANCE SHEET
Assets
Cash and due from banks	$	47,720		$	63,401		$	59,804		$	58,634		$	50,679
Federal funds sold and interest bearing balances		38,125			4,389			12,022			22,910			16,342
Securities available for sale, at fair value		293,601			297,589			291,170			301,978			300,642
Restricted equity securities, at cost		9,651			6,996			7,559			8,729			8,234
Loans, net of unearned income		1,678,147			1,622,437			1,614,048			1,593,014			1,556,862
Less allowance for loan losses		28,660			28,094			27,640			26,434			25,032
Loans, net		1,649,487			1,594,343			1,586,408			1,566,581			1,531,831
Premises and equipment, net		63,291			60,053			59,133			54,639			52,385
Intangible assets, net		4,216			4,509			4,802			5,126			5,450
Goodwill		54,813			54,675			54,813			54,675			54,629
Other assets		32,116			32,288			36,353			31,923			31,924
Total Assets	$	2,193,020		$	2,118,243		$	2,112,064		$	2,105,194		$	2,052,115
Liabilities
Deposits:
Noninterest-bearing	$	200,936		$	199,692		$	197,345		$	185,803		$	198,428
Interest-bearing		1,569,925			1,584,599			1,559,920			1,522,405			1,497,109
Total deposits		1,770,861			1,784,291			1,757,265			1,708,208			1,695,536
Federal funds purchased & securities sold under
agreements to repurchase		39,794			4,987			14,705			32,359			6,966
Other borrowings		133,000			74,500			90,500			116,500			105,500
Other liabilities		14,541			15,888			16,076			17,262			17,745
Subordinated deferrable interest debentures		42,269			42,269			42,269			42,269			42,269
Total liabilities		2,000,465			1,921,935			1,920,815			1,916,598			1,868,016
Stockholders' equity
Common stock		14,895			14,887			14,870			14,869			14,868
Capital surplus		83,308			82,920			82,732			82,308			82,019
Retained earnings		105,430			104,182			103,113			103,803			102,124
Accumulated other comprehensive loss		(291	)		5,093			1,303			(1,616	)		(4,231	)
Less treasury stock		(10,787	)		(10,773	)		(10,769	)		(10,769	)		(10,681	)
Total stockholders' equity		192,555			196,308			191,249			188,596			184,099
Total liabilities and stockholders' equity	$	2,193,020		$	2,118,243		$	2,112,064		$	2,105,194		$	2,052,115
Other Data
Earning Assets		2,009,873			1,924,415			1,917,240			1,917,902			1,873,846
Intangible Assets		59,029			59,184			59,615			59,801			60,079
Interest Bearing Liabilities		1,784,988			1,706,355			1,707,394			1,713,533			1,651,844
Average Assets		2,141,940			2,115,561			2,102,579			2,069,715			2,030,018
Average Stockholders' Equity		192,605			193,971			191,124			187,290			185,177

-5-

(unaudited)
(dollars in thousands except per share data and FTE headcount)
	Three Months Ended															Six Months Ended
	June			Mar.			Dec.			Sept			June			June			June
	2008			2008			2007			2007			2007			2008			2007
ASSET QUALITY INFORMATION
Allowance for loan losses
Balance at beginning of period	$	28,094		$	27,640		$	26,434		$	25,032		$	25,113		$	27,640		$	24,863
Acquired Reserves		-			-			-			-			-			-			-
Provision for loan loss		3,720			3,200			6,914			2,964			936			6,920			1,444
Charge-offs		3,800			2,945			6,465			1,806			1,326			6,745			2,114
Recoveries		646			199			757			247			308			845			839
Net charge-offs (recoveries)		3,154			2,746			5,708			1,559			1,018			5,900			1,275
Ending balance	$	28,660		$	28,094		$	27,640		$	26,434		$	25,032		$	28,660		$	25,032
As a percentage of loans		1.71	%		1.73	%		1.71	%		1.66	%		1.61	%		1.71	%		1.61	%
As a percentage of nonperforming loans		89.27	%		104.78	%		149.66	%		135.81	%		154.51	%		89.27	%		154.51	%
As a percentage of nonperforming assets		81.56	%		86.34	%		108.56	%		120.37	%		136.90	%		81.56	%		136.90	%
Net Charge-off information
Charge-offs
Commercial, Financial & Agricultural	$	283		$	390		$	421		$	352		$	231		$	673		$	404
Real Estate - Residential		902			672			1,262			433			286			1,574			574
Real Estate - Commerical & Farmland		49			299			621			119			323			348			504
Real Estate - Construction & Development		2,319			1,305			3,899			709			405			3,624			405
Consumer Installment		248			279			262			193			81			527			228
Other		-			-			-			-			-			-			-
Total charge-offs		3,800			2,945			6,465			1,806			1,326			6,745			2,114
Recoveries
Commercial, Financial & Agricultural	$	102		$	18		$	95		$	42		$	101		$	120		$	453
Real Estate - Residential		90			25			14			49			16			115			67
Real Estate - Commerical & Farmland		68			31			159			79			94			99			101
Real Estate - Construction & Development		322			34			401			13			-			356			1
Consumer Installment		64			90			88			64			97			154			217
Other		-			-			-			-			-			-			-
Total recoveries		646			199			757			247			308			845			839
Net charge-offs (recoveries)	$	3,154		$	2,746		$	5,708		$	1,559		$	1,018		$	5,900		$	1,275
Non-accrual loans		32,106			26,812			18,468			19,464			16,201			32,106			16,201
Foreclosed assets		3,032			5,727			6,993			2,497			2,084			3,032			2,084
Total non-performing assets		35,138			32,539			25,461			21,961			18,285			35,138			18,285
Non-performing assets as a percent of loans
and foreclosed assets		2.09	%		2.00	%		1.57	%		1.38	%		1.17	%		2.09	%		1.17	%
Net charge offs as a percent of loans (Annualized)		0.75	%		0.68	%		1.41	%		0.39	%		0.26	%		0.70	%		0.16	%

-6-

(unaudited)
(dollars in thousands except per share data and FTE headcount)
	Three Months Ended										Six Months Ended
	June		Mar.		Dec.		Sept		June		June		June
	2008		2008		2007		2007		2007		2008		2007
AVERAGE BALANCES
Short term assets	$	18,236	$	23,480	$	21,827	$	26,212	$	49,200		20,858	$	67,249
Investment securities		307,304		291,708		297,380		299,925		301,848		299,506		297,414
Loans		1,650,781		1,617,991		1,605,006		1,569,906		1,511,333		1,634,386		1,485,029
Total Earning Assets		1,976,321		1,933,179		1,924,212		1,896,044		1,862,381		1,954,750		1,849,691
Noninterest bearing deposits		197,662		191,860		187,908		190,316		192,298		194,761		196,039
Interest bearing deposits		607,777		612,212		596,053		575,415		572,400		609,995		563,465
Savings		54,973		54,221		55,305		58,778		61,733		54,597		62,333
CDs		903,656		890,668		886,116		870,731		866,589		897,162		870,796
Deposits		1,764,067		1,748,961		1,725,383		1,695,239		1,693,020		1,756,514		1,692,633
FHLB advances		111,922		97,162		105,570		110,056		83,109		104,542		77,328
Subordinated debentures		42,269		42,269		42,269		42,269		42,269		42,269		42,269
Other borrowings		13,815		17,490		22,298		18,878		10,688		15,653		12,261
Total non-deposit funding		168,006		156,921		170,137		171,203		136,066		162,464		131,858
Total funding	$	1,932,073	$	1,905,882	$	1,895,520	$	1,866,442	$	1,829,086	$	1,918,978	$	1,824,491

-7-

(unaudited)
(dollars in thousands except per share data and FTE headcount)
	Three Months Ended										Six Months Ended
	June		Mar.		Dec.		Sept		June		June		June
	2008		2008		2007		2007		2007		2008		2007
INTEREST INCOME/EXPENSE
Short term assets	$	91	$	193	$	239	$	317	$	659	$	284	$	1,792
Investment securities (TE)		3,912		3,842		3,818		3,897		3,705		7,754		7,407
Loans (TE)		28,704		30,409		33,078		33,552		31,861		59,113		62,746
Total Earning Assets		32,707		34,444		37,135		37,767		36,225		67,151		71,945
Noninterest bearing deposits		-		-		-		-		-		-		-
Interest bearing deposits		2,580		3,450		4,238		4,577		4,393		6,030		8,576
Savings		129		118		142		154		163		247		327
CDs		9,606		10,575		11,379		11,146		10,983		20,181		21,841
Deposits		12,314		14,143		15,759		15,877		15,539		26,457		30,744
FHLB advances		302		653		1,299		1,461		1,084		955		1,972
Subordinated debentures		487		686		832		811		768		1,173		1,522
Other borrowings		90		148		237		221		120		238		264
Total non-deposit funding		879		1,487		2,367		2,493		1,973		2,366		3,759
Total funding	$	13,193	$	15,630	$	18,126	$	18,370	$	17,512	$	28,823	$	34,503
Net Interest Income (TE)	$	19,514	$	18,814	$	19,009	$	19,397	$	18,713	$	38,328	$	37,442

-8-

(unaudited)
(dollars in thousands except per share data and FTE headcount)
	Three Months Ended															Six Months Ended
	June			Mar.			Dec.			Sept			June			June			June
	2008			2008			2007			2007			2007			2008			2007
YIELDS (1)
Short term assets		2.00	%		3.31	%		4.34	%		4.80	%		5.37	%		2.74	%		5.37	%
Investment securities		5.11	%		5.30	%		5.09	%		5.16	%		4.92	%		5.21	%		5.02	%
Loans		6.97	%		7.56	%		8.18	%		8.48	%		8.46	%		7.27	%		8.52	%
Total Earning Assets (2)		6.64	%		7.17	%		7.66	%		7.90	%		7.80	%		6.91	%		7.84	%
Noninterest bearing deposits		-			-			-			-			-			-			-
Interest bearing deposits		1.70	%		2.27	%		2.82	%		3.16	%		3.08	%		1.99	%		3.07	%
Savings		0.94	%		0.88	%		1.02	%		1.04	%		1.06	%		0.91	%		1.06	%
CDs		4.26	%		4.78	%		5.09	%		5.08	%		5.08	%		4.52	%		5.06	%
Deposits		2.80	%		3.25	%		3.62	%		3.72	%		3.68	%		3.03	%		3.66	%
FHLB advances		1.08	%		2.70	%		4.88	%		5.27	%		5.23	%		1.84	%		5.14	%
Subordinated debentures		4.62	%		6.53	%		7.81	%		7.61	%		7.29	%		5.58	%		7.26	%
Other borrowings		2.61	%		3.40	%		4.21	%		4.64	%		4.50	%		3.06	%		4.35	%
Total non-deposit funding		2.10	%		3.81	%		5.52	%		5.78	%		5.81	%		2.93	%		5.75	%
Total funding (3)		2.74	%		3.30	%		3.79	%		3.90	%		3.84	%		3.02	%		3.81	%
Net interest spread		3.90	%		3.87	%		3.86	%		4.00	%		3.96	%		3.89	%		4.03	%
Net interest margin		3.96	%		3.91	%		3.92	%		4.06	%		4.03	%		3.94	%		4.08	%
(1) Interest and average rates are calculated on a tax-equivalent basis using an effective tax rate of 35%.
(2) Rate calculated based on average earning assets.
(3) Rate calculated based on average interest bearing liabilities.