Ross McWilliams has been promoted to EVP and managing director of Ameris Bank’s Homebuilder Division, according to a press release.
Ameris provides loans and banking services for new home construction, including construction financing, builder lines of credit, and residential builder financing.
“Like all sectors, the homebuilder industry is facing unique challenges,” McWilliams said. “As I take on this role, I am laser-focused on working with our team to tailor solutions to each customer’s particular needs.”
Prior to his promotion, Ross served as SVP and Regional Production Manager for Ameris. His other experience includes leadership positions at Fidelity Bank, Park Avenue Bank, and Bank of America.
“Ross McWilliams has more than 15 years of experience with Ameris Bank and 30 years in the homebuilding industry,” said Palmer Proctor, Ameris CEO. “His expertise and emphasis on building strong relationships make him the right person to lead this team and to help customers react quickly when opportunities arise.”
The promotion comes at a time when homebuilding is hot but increasingly pricey. Construction costs like buying lots and materials have soared due to rate hikes and inflation.
A report from Bank of America Global Research characterized changes in construction costs as rising “at an unprecedented pace.” Material prices are up 45% from 2018.
“Commercial construction materials prices are now 40% higher than they were back in February 2020. When you think about materials availability, it’s become dire,” Maria Davidson, CEO and Founder of Kojo, a materials management company, told CNBC.
Costs, in combination with deal-killing mortgage rates, have sent builder confidence spiraling despite the need for new construction.
Atlanta-based Ameris Bancorp operates 164 financial centers across the Southeast.