About H. Proctor
Palmer Proctor, CEO of Ameris Bancorp, rang the opening bell at the New York Stock Exchange on September 17, 2024, to celebrate the transfer of the company's stock listing to the NYSE. Proctor said the exchange was a better fit for the 50-year-old institution, citing stability and sustainability. He stated that the company's primary focus remains organic growth, though mergers and acquisitions remain of interest, and described the bank as not dependent on M&A.
Proctor commented on the regional banking sector, saying he believed it was "finally getting recognized" as net interest margins and the cost of funds have begun to stabilize. He noted that specialist investors have shown increased interest, while generalist investors remain largely on the sidelines. Proctor expressed optimism for a "soft landing" that could lead to further appreciation in regional bank stocks. Looking ahead, he said the bank would continue on its current trajectory, describing Ameris as well-positioned with strong capital and leadership.
Source: AI-verified profile updated from H. Proctor's recent appearances.
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Transcript (12 segments)
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Host0:04
Joining me today on NYSE Floor Talk is Palmer Proctor. He is the CEO of Ameris Bancorp. Palmer, it's wonderful to have you here. Thanks for joining.
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Palmer Proctor0:15
Happy to be here.
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Host0:15
It's an exciting day here at the New York Stock Exchange. So you just rang the opening bell. You're celebrating the transfer of your stock listing to the NYSE. So, tell me, what prompted you to join the NYSE?
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H. Proctor0:27
We felt like the New York Stock Exchange would be more reflective of our company. The history of our company is a 50-year-old institution. So, when we think about stability and sustainability and going forward, we just felt like the New York Stock Exchange would be the best fit for us.
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Host0:43
Now, Ameris has been on a growth trajectory in the past through M&A and more recently through organic growth. So, what's your current strategy?
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H. Proctor0:51
The current strategy has not changed. Our primary focus is always organic growth, and we do a very good job of that. M&A is certainly of interest to us, but we're not dependent on M&A, and that's a very different model than a lot of other companies have. So, we've been able to show, fortunately, through our leadership team and through the growth markets we're in, to be able to execute an organic growth strategy, and that's our primary focus.
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Host1:12
Now, the outlook for regional banks is trending more positive this quarter. Without getting ahead of your Q2 earnings later this week, to what do you attribute strong performance in the regional banking sector?
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H. Proctor1:23
I think the sector is finally getting recognized. I think the net interest margins have kind of stabilized, the cost of funds is starting to stabilize. When you see that, I think there's a little more interest in the stocks, especially with the specialists. The generalists are still on the sidelines to a certain degree, but I think as we come into, hopefully, a soft landing, then we'll start seeing some appreciation, which we've seen over the last couple weeks in a lot of the regional bank stocks.
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Host1:45
Alright Palmer, tell me finally, what's next for Ameris?
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H. Proctor1:49
Onward and upward. We're just going to continue with our trajectory. We've got a lot of opportunity. We're well positioned. It's a stable bank with wonderful capital, wonderful leadership, and we've got a plan we're going to be able to execute on, so we're excited about that.
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Host2:02
Well, we're excited to have you as part of the NYSE family. Thanks for joining me.
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Palmer Proctor2:05
Thanks for having us. Yes, glad to be here.
