Welcome to our dedicated page for Ameris Bancorp news (Ticker: ABCB), a resource for investors and traders seeking the latest updates and insights on Ameris Bancorp stock.
Company Overview
Ameris Bancorp is a well-established bank holding company with a rich history that dates back to 1971. It operates through its principal subsidiary, Ameris Bank, which has consistently combined character, service, and value with innovative financial solutions. The organization has built its reputation on the provision of traditional banking services tailored to meet the needs of both consumer and business clients. With decades of experience, Ameris Bancorp is recognized for its commitment to maintaining strong community ties and delivering exceptional customer experiences, making it a resilient player in the competitive landscape of regional banking.
Business Divisions and Core Services
Ameris Bancorp’s operations are organized into multiple segments that underscore its diversified business model. These include:
- Banking Division: The primary revenue generator, offering a full spectrum of services such as personal and business banking, checking, and savings accounts.
- Retail Mortgage Division: Focused on providing comprehensive mortgage and refinancing services, aiding homebuyers and investors alike.
- Warehouse Lending Division: Specializes in providing liquidity solutions and financing frameworks for clients who require warehouse credit facilities.
- Premium Finance Division: Offers specialized financing services that cater to unique industry needs, bridging gaps in traditional lending solutions.
The extensive suite of offerings not only reinforces its market presence but also underlines its capability to adapt to varying financial demands while ensuring stability and service excellence.
Geographical Footprint and Market Position
Headquartered in Atlanta, Georgia, Ameris Bancorp has a robust regional presence with a network of full‐service branches spread across Georgia, Alabama, Florida, and South Carolina. This distribution enables the company to effectively serve a diverse customer base in key southeastern markets. Its strategic focus on this region provides a platform for continued asset growth and expansion through the targeted acquisition of banks in its vicinity, thereby enhancing market share and broadening its service footprint beyond traditional confines.
Operational Strengths and Financial Resilience
Ameris Bancorp emphasizes a disciplined approach to financial management, reflected in its consistent profitability over multiple quarters. The company has demonstrated an aptitude for maintaining a strong balance sheet, driven by solid net interest income and a manageable cost structure. By leveraging its history of steady asset growth and robust credit quality, the organization positions itself as a stabilizing force in the often volatile financial services industry.
Commitment to Customer Experience and Community Banking
Integrity and personalized service have always been at the heart of Ameris Bancorp’s operations. The bank’s commitment to delivering exceptional customer experiences is grounded in its community banking roots. This focus not only differentiates it from larger, more impersonal financial institutions but also fosters customer loyalty and long-term relationships. By staying true to its original ethos while integrating modern banking innovations, the company maintains a sustainable competitive advantage in its market.
Industry Expertise and Innovative Solutions
In addition to traditional banking and mortgage services, Ameris Bancorp continually adapts to the evolving financial environment by introducing innovative products and leveraging technology to enhance its service offerings. The firm’s strategic initiatives are designed to create a seamless banking experience that combines personalized service with state-of-the-art digital solutions. This blend of old-world trust and modern efficiency underscores the company’s commitment to excellence and signals its deep industry knowledge.
Competitive Landscape and Distinguishing Attributes
Operating in a competitive market that includes both regional and national financial institutions, Ameris Bancorp differentiates itself through its unwavering commitment to community values and consistent performance metrics. Its diversified revenue model, which includes traditional banking, retail mortgage services, and specialized lending, provides resilience against market fluctuations. The company’s ability to enhance shareholder value while increasing tangible book value speaks to its strong operational discipline and focus on sustainable growth.
Summary
Ameris Bancorp stands as a testament to the enduring power of community banking. With a rich legacy, a diversified suite of financial services, and a clear focus on customer-centric solutions, the company exemplifies how traditional banking can evolve without losing sight of its core principles. The well-structured business model, combined with operational prudence and a commitment to service, positions Ameris Bancorp as a significant institution in its regional market, well-equipped to address the financial needs of both individual and business clients.
Ameris Bank has appointed Emily Dawkins as its new Florida president, succeeding Brian Parks who has been promoted to head of Wholesale Banking. Dawkins, formerly regional president of North Florida at Truist, brings 20 years of banking experience to her new role.
In her position, Dawkins will oversee the bank's expansion throughout Florida and enhance its commercial lending, treasury, and traditional banking services. Her background includes completing Truist's Commercial Associate Program and serving as both a Commercial relationship manager and Capital Markets originator.
Active in community service, Dawkins serves on the Baptist Medical Center South Board and ReThreaded's Circle of Sisters. She holds a BS in Finance with a Spanish minor from the University of Florida.
Ameris Bank has appointed Brian Parks as the new head of Wholesale Banking, reporting to President Lawton Bassett. Parks, who will be based in Atlanta, will oversee Treasury Management, Industry Specialty Banking, Commercial Real Estate & Capital Markets, Corporate Banking, and the metro Atlanta market. Since joining Ameris in 2020 as regional president for Florida markets, Parks has expanded the bank's presence from Jacksonville to Orlando to Tampa. Prior to Ameris, he spent 22 years at SunTrust (now Truist) in various leadership roles.
Ameris Bancorp (NYSE: ABCB) reported strong Q3 2024 financial results with net income of $99.2 million, or $1.44 per diluted share, up from $80.1 million in Q3 2023. Key highlights include adjusted net income of $95.2 million ($1.38 per diluted share), net interest margin of 3.51%, and total deposits growth of $435.1 million (8.1% annualized). The company achieved a Return on Average Assets of 1.49% and grew tangible book value by 19.1% annualized to $37.51. Notable improvements include TCE ratio reaching 10.24% and reduced exposure to GNMA nonaccrual loans by $85.4 million through MSR sale.
Ameris Bancorp (NYSE: ABCB) has announced that it will release its third quarter 2024 financial results after market close on Thursday, October 24, 2024. The company will host a teleconference on Friday, October 25, 2024, at 9:00 a.m. Eastern time to discuss the results. Key executives, including CEO H. Palmer Proctor, Jr., CFO Nicole S. Stokes, and CCO Douglas D. Strange, will lead the call.
Investors can access the conference call by dialing 1-844-481-2939 with the conference ID 'Ameris Bancorp'. A replay will be available until November 1, 2024, by dialing 1-877-344-7529 with access code 1525671. Additionally, a live webcast will be available on the Investor Relations page of the Ameris Bank website.
Ameris Bancorp, the parent company of Ameris Bank, operates 164 financial centers across the Southeast and serves customers nationwide. As of June 30, 2024, Ameris manages $26.5 billion in assets and offers a range of banking, lending, treasury, and insurance services.
Ameris Bancorp (NYSE: ABCB) has announced a quarterly dividend of $0.15 per share of common stock. The dividend will be payable on October 7, 2024, to shareholders of record as of September 30, 2024. Ameris Bancorp is the parent company of Ameris Bank, a state-chartered bank headquartered in Atlanta, Georgia.
Ameris operates 164 financial centers across the Southeast and serves customers nationwide through select lending channels. The company manages $26.5 billion in assets as of June 30, 2024. Ameris Bank offers a full range of traditional banking and lending products, treasury and cash management, insurance premium financing, and mortgage and refinancing services.
Ameris Bank's Corporate Information Security Officer, Jorge Perez, has been named to the prestigious 2025 HITEC 100 list, which honors the most influential Hispanic professionals in technology. This marks Perez's fourth consecutive year on the list. The HITEC 100 recognizes achievements of top U.S.-based Hispanic technology executives, with the aim of celebrating impactful leadership and inspiring others in the field.
The 2025 HITEC 100 includes leaders from global Fortune 100 firms, with 46% of recipients being Latinas and representing 16 countries. Recipients come from 65 different companies, with 38% being first-time honorees. Nominations are evaluated based on scope of work, contributions to technology, leadership, and efforts to mentor future Hispanic technology leaders.
Ameris Bank has expanded its commercial banking team with two key hires. Bill Kilburg joins as senior vice president, relationship manager, bringing over 25 years of financial services experience, including 20 years in commercial banking with BB&T (now Truist). Patrick Murphy becomes senior vice president, government relationship manager, with 30 years of government banking expertise.
Kilburg, based in Metro Atlanta, is a Florida State University graduate. Murphy, a graduate of Eastern Connecticut State University, is based in Jacksonville and will work throughout Florida. Ameris Bank President Lawton Bassett emphasized that these hires bring invaluable industry expertise, deep knowledge, and practical experience to better serve customers and drive strategic growth.
Ameris Bank (ABCB) has appointed Jorge Perez as its new Corporate Information Security Officer (CISO), reporting to Chief Information Officer Ross Creasy. Perez brings extensive experience in cybersecurity, having previously served as CISO of Wholesale Banking, Enterprise Payments, and Core Technology & Operations at Truist Financial. His background includes roles at InterContinental Hotels Group and KPMG , focusing on cyber security services. Perez holds a bachelor's degree in business administration from Florida International University and has been recognized among the 100 most influential Hispanic professionals in the technology industry for three consecutive years.
Ameris Bancorp (NYSE: ABCB) reported strong financial results for Q2 2024, with net income of $90.8 million ($1.32 per diluted share) and adjusted net income of $80.8 million ($1.17 per diluted share). Key highlights include:
- Net interest margin improved to 3.58% from 3.51% in Q1 2024
- Organic loan growth of $392.3 million (7.7% annualized)
- Total deposit growth of $446.8 million (8.6% annualized)
- Tangible book value increased by $1.27 per share (14.8% annualized) to $35.79
- TCE ratio improved to 9.72% from 8.80% a year ago
- Allowance for loan losses increased to 1.60% of loans
The company achieved margin expansion, growth in net interest income, and an increase in core deposits, resulting in a PPNR ROA exceeding 2%. Management remains optimistic about future performance, driven by a strong balance sheet and thriving Southeastern markets.
Ameris Bancorp (Nasdaq: ABCB) announced a strategic move to transfer its common stock listing from Nasdaq to the New York Stock Exchange (NYSE). This transition is set to occur on July 23, 2024, with Ameris continuing to trade under the ticker symbol 'ABCB'. The company's stock will trade on Nasdaq until the close of business on July 22, 2024. Ameris's leadership team, including CEO Palmer Proctor, will celebrate the listing transfer by ringing the NYSE Opening Bell. The shift is aimed at enhancing Ameris's visibility and market position. Ameris Bancorp, headquartered in Atlanta, Georgia, manages $25.7 billion in assets and operates 164 financial centers across the Southeast.
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