William I. Bowen, Jr.
Ameris BancorpAbout William I. Bowen, Jr.
William I. Bowen, Jr. is an independent director of Ameris Bancorp and Ameris Bank, serving since November 2014. He is age 60 and holds a bachelor’s degree in business administration from the University of Georgia; his background spans funeral services, farming, timber, and real estate, and he chairs Ameris Bank’s Tifton, Georgia community board .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Ameris Bank (Tifton Market) | Chairman, Community Board | Member since 2012 | Local market oversight; chairs the community board |
| Bowen Donaldson Home for Funerals | Partner & President | Not disclosed | Operates funeral service business; local economy expertise |
| Bowen Farming Enterprises, LLC | Managing Partner | Not disclosed | Timber, cattle, cotton, peanut operations |
| Bowen Land and Timber, LLC | Managing Partner | Not disclosed | Timber/land management |
| Bowen Family Partnership | Managing Partner | Not disclosed | Family enterprise (farming/real estate) |
| Fulwood Family Partnership | Managing Partner | Not disclosed | Real estate development |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Tift Regional Medical Center | Vice Chairman | Not disclosed | Healthcare governance |
| Southwell Ambulatory | Chairman | Not disclosed | Ambulatory healthcare governance |
| Georgia Board of Funeral Service | Chairman | Not disclosed | State board leadership |
Board Governance
- Committees: Corporate Governance & Nominating (member) and Credit Risk (member) .
- Independence: The Board determined all directors except Messrs. Miller and Proctor are independent; Bowen is independent (also explicitly shown as independent in the 2024 proxy) .
- Engagement: Each director attended at least 75% of Board and committee meetings in 2024; independent directors held six executive sessions in 2024 .
- Meeting counts (2024): Board 6; Audit 5; Compensation 5; Corporate Governance & Nominating 4; Executive 3; Enterprise Risk 3; Credit Risk 4 .
| Committee | Role | Status |
|---|---|---|
| Corporate Governance & Nominating | Member | Independent director; committee chaired by William H. Stern |
| Credit Risk (Bank-level) | Member | Independent director; committee chaired by Wm. Millard Choate |
| Ameris Bank Community Board (Tifton) | Chair | Bank community governance |
Fixed Compensation
Program structure (Non-Employee Directors, 2024):
- Annual cash retainer: $60,000 .
- Annual equity retainer: time-based restricted stock with ~$85,000 value; vests at earlier of 1-year or next annual meeting .
- Additional cash retainers: Non-executive Chair $80,000; Lead Independent Director $45,000; Committee Chairs—Audit $30,000; Compensation $20,000; Corporate Governance & Nominating $20,000; Enterprise Risk $30,000; Executive $10,000; Credit Risk $10,000; Community boards: $400/month; $600/month if chair .
Bowen-specific director compensation:
| Metric | FY 2023 | FY 2024 |
|---|---|---|
| Fees Earned or Paid in Cash ($) | $67,200 | $67,200 |
| Stock Awards ($) | $85,024 | $85,031 |
| Option Awards ($) | — | — |
| Non-Equity Incentive Comp ($) | — | — |
| All Other Compensation ($) | $1,034 | $1,521 |
| Total ($) | $153,258 | $153,752 |
Notes:
- “All Other Compensation” represents dividends paid on restricted stock upon vesting for non-employee directors .
- Cash fees exceeding the $60,000 base retainer may reflect eligible committee/community board roles under program terms .
Performance Compensation
Director equity grants are time-based restricted stock (no performance metrics).
| Grant Year | Shares Granted | Grant-Date Fair Value/Share | Aggregate Value | Vesting Schedule |
|---|---|---|---|---|
| 2023 | Shares issued June 5, 2023 | $33.54 | $85,024 | Vests earlier of June 5, 2024 or Annual Meeting (continuous service required) |
| 2024 | 1,786 shares (June 6, 2024) | $47.61 | $85,031 | Vests earlier of June 6, 2025 or Annual Meeting (continuous service required) |
As of December 31, 2024, each non-employee director held 1,786 shares of restricted common stock related to 2024 grants .
Other Directorships & Interlocks
- No other public company directorships or committee roles were disclosed for Bowen in the most recent proxy biography (last five years) .
- Private/non-profit/academic/state roles disclosed: Vice Chairman (Tift Regional Medical Center), Chairman (Southwell Ambulatory), Chairman (Georgia Board of Funeral Service) .
Expertise & Qualifications
- Real estate development and agriculture/timber operations experience; provides practical market and asset-quality perspective helpful for Credit Risk oversight .
- Long-standing local market leadership (Tifton community board chair) supports stakeholder engagement and regional risk context .
- Corporate governance exposure via service on the Corporate Governance & Nominating Committee .
- Business administration education (University of Georgia) aligns with financial literacy expectations for directors .
Equity Ownership
| Holder | Beneficially Owned Shares (as of March 27, 2025) | Percent of Class | Footnote Details |
|---|---|---|---|
| William I. Bowen, Jr. | 28,859 | * (less than 1%) | Includes 1,786 restricted shares (voting but not investment power), 700 shares jointly with one child, and 700 shares owned by one child |
Stock ownership guidelines and policies:
- Non-employee directors must own stock equal to 5× annual cash retainer; 2024 annual review found all conditions being met .
- Insider trading policy prohibits hedging and short sales by directors, officers, and employees .
Governance Assessment
- Independence and attendance: Bowen is independent and met minimum attendance expectations (≥75% in 2024), supporting board effectiveness and investor confidence .
- Compensation mix alignment: Director pay blends cash retainer with time-based restricted stock; no options or PSUs for directors, reducing risk of misaligned incentives .
- Ownership alignment: Holds 28,859 shares with additional restricted shares; complies with stringent ownership guidelines (5× retainer) and is subject to anti-hedging rules .
- Committee work: Service on Corporate Governance & Nominating and Credit Risk indicates direct involvement in board composition/refresh and loan/asset quality oversight .
- Potential conflicts: The Related Party Transactions section lists arrangements involving other insiders (e.g., Mr. Miller; an entity connected to Mr. Proctor’s brother), but no transactions are disclosed for Bowen—reducing conflict risk .
- Say-on-Pay signal: 92% approval at the 2024 Annual Meeting indicates broad shareholder support for compensation frameworks and governance practices generally .
RED FLAGS: None specifically disclosed for Bowen (no pledging of shares, no related-party transactions, no attendance shortfall) .