James A. LaHaise
Ameris BancorpAbout James A. LaHaise
James A. LaHaise, age 64, is Ameris Bancorp’s Corporate Executive Vice President and Chief Strategy Officer, serving in this role since October 2018 and an executive officer since 2014 following Ameris’ acquisition of The Coastal Bank; prior roles included Corporate Banking Executive, Chief Banking Officer for Florida and South Carolina, and Commercial Banking Executive . His incentive compensation is tied to bank performance via annual metrics (ROA, Credit Quality, Efficiency Ratio) and long-term PSUs based on relative tangible book value growth and ROTCE versus the KRX peer index, both subject to a TSR modifier, aligning pay with shareholder outcomes over three-year horizons . Ameris requires NEOs to hold stock equal to three times base salary and to retain 50% of net vested shares until guidelines are met; all executives were in compliance as of the 2024 annual review, though LaHaise has 31,615 pledged shares, a notable alignment risk .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Ameris Bancorp | Corporate EVP & Chief Strategy Officer | Oct 2018 – Present | Oversees corporate strategy; prior roles at Ameris included Corporate Banking Executive and regional Chief Banking Officer . |
| Ameris Bancorp | EVP & Corporate Banking Executive | Feb 2017 – Sep 2018 | Led corporate banking initiatives post-Fidelity and Coastal integrations . |
| Ameris Bancorp | EVP & Chief Banking Officer (FL/SC) | Feb 2016 – Jan 2017 | Regional banking leadership in Florida and South Carolina . |
| Ameris Bancorp | EVP & Commercial Banking Executive | Jun 2014 – Feb 2016 | Commercial banking leadership after The Coastal Bank acquisition . |
| Coastal Bankshares, Inc. / The Coastal Bank | President & CEO | Jan 2013 – Jun 2014 | Led institution through sale to Ameris (acquired June 2014) . |
| The Coastal Bank | EVP & Chief Banking Officer | May 2007 – Dec 2012 | Senior operating leadership prior to CEO role . |
External Roles
No external public company directorships or roles are disclosed for LaHaise in the latest proxy .
Fixed Compensation
| Year | Salary ($) | Bonus ($) | Non-Equity Incentive Plan Compensation ($) | Stock Awards ($) | Change in Pension Value and Nonqualified Deferred Comp ($) | All Other Compensation ($) | Total ($) |
|---|---|---|---|---|---|---|---|
| 2022 | 439,167 | — | 499,024 | 602,578 | 110,444 | 27,775 | 1,678,988 |
| 2023 | 452,833 | — | 483,594 | 606,862 | 97,355 | 45,858 | 1,686,502 |
| 2024 | 492,500 | — | 549,698 | 607,648 | 91,171 | 45,149 | 1,786,166 |
All Other Compensation detail (2024):
- Dividends: $13,667; Employer 401(k) match: $13,800; Health & Welfare: $15,306; Life Insurance: $2,376 .
Short-term incentive (STI) opportunity (2024, % of salary):
- Threshold 37.5%; Target 75%; Maximum 127.5% .
STI performance measures and weights (company-wide for NEOs, applied to LaHaise in 2024):
- Credit Quality 33.0%; ROA 34.0%; Efficiency Ratio 33.0% .
- Payout curve: Threshold 50% of weight; Target 100–120%; Maximum 170%; +/-10% individual performance modifier; formula: Base Salary × Target % × Company Achievement × Individual Performance .
Performance Compensation
Grants of Plan-Based Awards (2024):
| Award Type | Grant Date | Threshold (Shares/$) | Target (Shares/$) | Maximum (Shares/$) | Grant-Date Fair Value ($) |
|---|---|---|---|---|---|
| STI (Cash) | 2/21/2024 | $187,500 | $375,000 | $637,500 | — |
| RSA | 2/21/2024 | — | 5,173 shares | — | 240,027 |
| TBV PSU | 2/21/2024 | 1,940 shares | 3,879 shares | 7,758 shares | 183,787 |
| ROTCE PSU | 2/21/2024 | 1,940 shares | 3,880 shares | 7,760 shares | 183,834 |
Long-term incentive design and vesting:
- RSAs vest in equal installments over three years; PSUs are 3-year performance awards based on relative TBV Growth (excluding AOCI) and relative ROTCE versus KRX peers, with a TSR modifier; fair values determined using Monte Carlo; performance awards included at target when shown in outstanding tables .
Stock vested in 2024 for LaHaise:
| Shares Acquired on Vesting (#) | Value Realized ($) | Components and Valuation Details |
|---|---|---|
| 16,765 | 967,275 | 1,259 shares @ $47.42 (2/18/2024), 3,753 @ $45.88 (2/24/2024), and 11,753 PSU shares @ $62.57 (12/31/2024; issued 2/20/2025 upon certification) . |
Equity Ownership & Alignment
Beneficial ownership (as of March 27, 2025):
| Holder | Shares Beneficially Owned | % of Class |
|---|---|---|
| James A. LaHaise | 103,165 | <1% |
Ownership detail:
- Includes 8,807 restricted shares over which LaHaise has voting but not investment power; 31,615 shares pledged as security for a loan with an unrelated financial institution (pledging red flag) .
- Outstanding unvested/uneared equity and vesting dates:
- RSAs: 1,724 vest 2/21/2025; 3,753 vest 2/24/2025; 1,724 vest 2/21/2026; 1,656 vest 2/24/2026; 1,725 vest 2/21/2027 (market values provided in proxy) .
- TBV PSUs: 3,727 scheduled 12/31/2025; 3,879 scheduled 12/31/2026 (target level) .
- ROTCE PSUs: 3,728 scheduled 12/31/2025; 3,880 scheduled 12/31/2026 (target level) .
Ownership policy and trading restrictions:
- Stock ownership guideline: CEO 6× salary; other NEOs 3× salary; retain 50% of net vested shares until met; all execs were compliant in 2024 review .
- Insider Trading Policy prohibits short-term trading, short sales, public options trading, and all hedging arrangements in company stock; separate clawback policy compliant with SEC/NYSE requiring recovery of erroneously awarded incentive compensation upon accounting restatement .
Employment Terms
Severance Protection and Restrictive Covenants Agreement (May 7, 2019):
- If terminated without cause or for good reason: equal semi-monthly payments over two years totaling 2× (base salary + target cash bonus for that year); pro-rata bonus based on performance; COBRA premium reimbursement up to 18 months; if termination occurs at/within one year after change of control, the 2× amount is paid in a lump sum .
- Restrictive covenants: two-year non-compete and non-solicit; confidentiality obligations .
- Equity under 2021 Plan: change in control does not require termination to receive applicable benefit (single-trigger acceleration for equity) .
Potential payments upon termination or change in control (as of 12/31/2024; stock price $62.57):
| Scenario | Base Salary ($) | Cash Bonus ($) | Pro-Rata Bonus ($) | SERP ($) | Acceleration of Unvested Equity ($) | Health & Welfare ($) | Total Benefit ($) |
|---|---|---|---|---|---|---|---|
| Qualifying Termination within 12 months following Change in Control | 1,000,000 | 750,000 | 549,698 | 657,539 | — | 24,060 | 2,981,297 |
| Change in Control (excluding other applicable termination benefits) | — | — | — | — | 2,565,996 | — | 2,565,996 |
| Voluntary with Good Reason or Involuntary Without Cause | 1,000,000 | 750,000 | 549,698 | 657,539 | — | 24,060 | 2,981,297 |
| Death | — | — | 549,698 | 1,000,000 | 1,607,716 | — | 3,157,414 |
| Disability | — | — | 549,698 | 657,539 | 1,607,716 | — | 2,814,953 |
Supplemental Executive Retirement Agreement (SERP):
- Annual retirement benefit of $100,000 for 10 years commencing at age 65, subject to vesting conditions; present value of accumulated benefit recorded at $657,539; vesting for LaHaise occurs after the 10-year anniversary of his Retirement Agreement (dated 11/10/2015) .
Investment Implications
- Pay-for-performance alignment: LaHaise’s cash incentive tied to ROA, Credit Quality, and Efficiency, and 60% of long-term equity as PSUs keyed to relative TBV Growth and ROTCE with a TSR modifier, supports multi-year alignment with shareholders; 2022 PSUs vested and paid out in February 2025, indicating measurable performance delivery over the cycle .
- Retention and change-in-control economics: Two-times salary+target bonus severance and single-trigger equity acceleration in a change-of-control scenario materially reduce turnover risk but increase potential transaction payout; combined benefits under CIC scenario approach ~$3.0 million for a qualifying termination, with separate equity acceleration under pure CIC at ~$2.57 million .
- Selling pressure and near-term supply: Multiple RSA tranches vest on 2/21/2025, 2/24/2025, 2/21/2026, 2/24/2026, and 2/21/2027, and PSU tranches scheduled for 12/31/2025 and 12/31/2026 could create episodic insider share supply depending on withholding and personal liquidity preferences; retention of 50% of net shares until guideline compliance partially mitigates this .
- Alignment risks: 31,615 shares pledged as collateral represent a governance red flag—pledging can force sales under adverse market conditions—and contrasts with otherwise strict hedging prohibitions; monitor for any changes in pledging status or incremental pledges .
- Governance and clawback: Mandatory clawback policy and strict hedging ban reduce agency risk; compensation targeted between 50th–75th percentile vs peers suggests moderated pay inflation risk, though explicit benchmarking peer group names are not listed in the proxy .