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CONDENSED FINANCIAL INFORMATION OF AMERIS BANCORP (PARENT COMPANY ONLY)
12 Months Ended
Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract]  
CONDENSED FINANCIAL INFORMATION OF AMERIS BANCORP (PARENT COMPANY ONLY) CONDENSED FINANCIAL INFORMATION OF AMERIS BANCORP (PARENT COMPANY ONLY)
Condensed Balance Sheets
December 31, 2021 and 2020
(dollars in thousands)
20212020
Assets
Cash and due from banks$239,822 $167,643 
Investment in subsidiaries3,154,148 2,911,488 
Other assets27,340 16,564 
Total assets$3,421,310 $3,095,695 
Liabilities
Other liabilities$27,901 $24,212 
Other borrowings300,630 300,050 
Subordinated deferrable interest debentures126,328 124,345 
Total liabilities454,859 448,607 
Shareholders' equity2,966,451 2,647,088 
Total liabilities and shareholders' equity$3,421,310 $3,095,695 


Condensed Statements of Income
Years Ended December 31, 2021, 2020 and 2019
(dollars in thousands)
202120202019
Income
Dividends from subsidiaries$142,000 $93,000 $67,200 
Other income101 910 493 
Total income142,101 93,910 67,693 
Expense
Interest expense19,610 17,616 16,264 
Other expense13,031 8,300 12,199 
Total expense32,641 25,916 28,463 
Income before taxes and equity in undistributed income of subsidiaries109,460 67,994 39,230 
Income tax benefit6,878 5,225 5,603 
Income before equity in undistributed income of subsidiaries116,338 73,219 44,833 
Equity in undistributed income of subsidiaries260,575 188,769 116,608 
Net income$376,913 $261,988 $161,441 
Condensed Statements of Cash Flows
Years Ended December 31, 2021, 2020 and 2019
(dollars in thousands)
202120202019
OPERATING ACTIVITIES
Net income$376,913 $261,988 $161,441 
Adjustments to reconcile net income to net cash provided by operating activities:
Share-based compensation expense7,948 3,810 3,424 
Undistributed earnings of subsidiaries(260,575)(188,769)(116,608)
(Decrease) increase in interest payable(36)847 33 
(Increase) decrease in tax receivable(6,238)6,001 (6,860)
Provision for deferred taxes1,694 (1,225)1,595 
Gain on sale of equity security— — (61)
Change attributable to other operating activities3,678 7,652 (2,396)
Total adjustments(253,529)(171,684)(120,873)
Net cash provided by operating activities123,384 90,304 40,568 
INVESTING ACTIVITIES
(Increase) decrease in other investments(4,500)(8,012)282 
Repayment of advances to subsidiary bank— — 10,000 
Investment in subsidiary— (75,000)— 
Net cash proceeds received from acquisitions— — 34,939 
Proceeds from bank owned life insurance— 2,383 — 
Net cash (used in) provided by investing activities(4,500)(80,629)45,221 
FINANCING ACTIVITIES
Purchase of treasury shares(9,439)(7,995)(18,410)
Dividends paid - common stock(41,798)(41,685)(24,675)
Proceeds from other borrowings— 108,149 117,572 
Repayment of other borrowings— (5,155)(70,000)
Proceeds from exercise of stock options4,532 2,262 5,139 
Net cash (used in) provided by financing activities(46,705)55,576 9,626 
Net change in cash and cash equivalents72,179 65,251 95,415 
Cash and cash equivalents at beginning of year167,643 102,392 6,977 
Cash and cash equivalents at end of year$239,822 $167,643 $102,392 
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid during the year for interest$19,646 $16,769 $16,173 
Cash received during the year for income taxes$(2,367)$(10,000)$—