3 min read March 2024 — In an interview with Invest:, Joe Losch, market president for Central Florida and Senior Vice President of Ameris Bank, talked about the growth opportunities that the population and business expansion in Orlando offers the bank. He also talked about the bank’s strategy to leverage technology to promote customer convenience while also building strong relationships with customers and providing face-to-face support.
What factors make Greater Orlando an ideal location for business expansion and relocation?
Central Florida and the Greater Orlando market have fared much better than most other markets because our population is growing at a pace that drives a lot of economic growth and demand for products and services, including banking. Additionally, Central Florida is a great place to live, work and play. Moreover, low taxes have a high impact on immigration patterns from other parts of the country. As they look to relocate, both companies and individuals choose Central Florida at a very high rate.
What key factors differentiate Ameris Bank from other banking institutions in the region?
We are large enough to have the products and services that you need but small enough to deliver those products and services in a customized way to create solid solutions and meaningful experiences. Our employees are well-trained, experienced, empowered and inspired to provide an exceptional client experience. We have invested in multiple delivery channels, so customers have the convenience of banking online, banking from their home or office. But, where we really shine is with our availability for face-to-face interactions with clients. We have a lot of experienced bankers who will meet with our clients and provide them with guidance and advice. While a good number of routine transactions can be handled over a phone or computer, you want access to somebody with whom you have a relationship with and who can help find a solution to your unique situation and we excel at that.
How does Ameris Bank leverage technology and innovation to operate more efficiently?
We have made a significant investment in technology so that our clients can enjoy banking how and when it is convenient to them. Adoption of mobile and online banking has accelerated since COVID, and we have adapted to meet our clients’ needs. However, we are still investing in our people and believe that face-to-face banking is still a very important delivery channel to many of our clients. If you want to come into a branch to speak with somebody or call us on the phone, we will answer or often come to meet you at your place of business. That one-on-one relationship is very important even though technology has grown and will continue to grow in utilization.
How do you expect artificial intelligence will impact the workforce in the banking sector?
Technology advancements such as machine learning can help us become more efficient. When we are working with our clients, it can help us take care of some of the repetitive transactions. If they are applying for a loan for example, it can help speed up the process. In that sense, we see artificial intelligence as a tool for process improvement. Nevertheless, it must work alongside the bankers who are working with our clients to solve problems. I do not see it replacing human interactions, but as an enhancement to help with efficiency.
How does population and business growth happening across the region impact the local banking sector?
The growth of this market has been great, and I expect that trend to continue. There is a population movement into this area and businesses grow up around that growing population and both people and businesses need banks and bankers to partner with them to help make their dreams come true. At the same time, the number of banks have been consolidating. That has provided great opportunities for banks like us to both grow with the markets’ growth and to accelerate our growth by increasing our market share.
How does the local fiscal environment of Orlando differ from other markets where Ameris Bank operates?
Ameris Bank is headquartered in Atlanta, and serves customers throughout the Southeastern United States, so Orlando is a microcosm of what we are experiencing in the Southeast. Each market behaves a little differently which is why we are structured with a Market President in each unique market to help serve that market’s specific needs and to keep decision making close to our customers. Markets within our bank’s footprint are growing at a more rapid pace than the national average and Orlando is growing as fast, if not faster, than most other markets. It has been amazing to see how Central Florida has grown over the 40 years that I have been in the banking industry here.
How does Ameris Bank ensure that it maintains corporate social responsibility in the environmental, philanthropic, and economic spheres?
Banks thrive on a solid vibrant community, and I believe a community can be made stronger with good banks helping to fuel the responsible/sustainable growth of the communities they serve. We encourage our employees to be involved in our community and we support them with time away from the office, including 8 hours of paid volunteer time. We believe that investing in our communities’ success helps growth, so serving our community is very important to us.
What efforts has Ameris Bank undertaken to promote financial literacy?
Financial literacy is very important to Ameris Bank and our associates. Some of the things we do include providing financial education on the importance of saving to kids in grades K-8, we also sponsor a program called Financing Higher Education for high school students, and we do first time home buyer seminars to help those preparing to buy their first home. Additionally, we focus on fraud education for our customers and businesses to keep them informed and help them be better prepared to avoid fraud losses.
What are the most important challenges that the banking and finance industry faces and how is Ameris Bank navigating them?
Fraud attempts are becoming more challenging and everyone and every business must actively guard against these risks. We are focused on educating our clients and sharing regular communications that highlight fraud trends, steps customers can take to protect themselves, and other information to help keep our customers’ financial resources safe.
What is your outlook and what are your top priorities for Ameris Bank over the next two to three years?
We will focus on finding opportunities to expand our business both geographically and through expansion into other complimentary lines of business and on adopting technologies that help us to move the process much faster for our clients’ convenience. We have been on a rapid growth path. I have been part of the company for six years since Ameris Bank purchased the bank where I worked previously. In that time, we have grown five times in size. We will continue to grow. Some of our growth will be within our existing geographic markets and some will help us expand into new markets.
An example of a complimentary business line was when we purchased an equipment finance company called Balboa Capital. That company leverages AI and technology to make a loan decision within minutes. Buying that company has helped us grow in the equipment space and by adopting some of their technological advancements we are able to speed up loan processes for our core clients.
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