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.
Ameris Bancorp (Nasdaq: ABCB) is a bank holding company headquartered in Atlanta, Georgia, operating through its subsidiary Ameris Bank. Founded in 1971, Ameris Bank prides itself on a steadfast commitment to character, service, and value. Over the years, it has evolved into a high-performing community bank offering a diverse range of innovative banking products and services.
With approximately $25.20 billion in assets, Ameris Bank operates over 164 financial centers across Georgia, Alabama, Florida, North Carolina, and South Carolina. The bank provides traditional banking services including personal banking, business banking, checking, savings, and mobile banking. Ameris Bank is segmented into five primary divisions: banking, retail mortgage, warehouse lending, SBA, and premium finance, with the banking segment being the primary revenue driver.
Recently, Ameris Bank has been involved in a variety of developments designed to enhance its market presence and customer service capabilities. The company reported net income of $74.3 million for the first quarter of 2024, reflecting solid financial performance highlighted by organic loan growth and strong asset quality. Other highlights include a net interest margin of 3.51%, a return on average assets of 1.18%, and a tangible book value growth to $34.52 per share.
Ameris Bank continues to emphasize community involvement and corporate social responsibility. It launched the Ameris Choice program, providing up to $20,000 in assistance for home purchases or refinancing in Jacksonville, Florida. The bank also honored four employees for their extraordinary commitment to community service in 2024, showcasing its dedication to fostering community well-being.
In addition to its robust financial services, Ameris Bank actively engages in strategic acquisitions to expand its market reach. For example, the recent appointment of experts like Brady Gailey as Executive Director of Corporate Development underscores its focus on strategic financial growth and investor relations.
Learn more about Ameris Bank at www.amerisbank.com.
Ameris Bancorp (Nasdaq: ABCB) reported a net income of $92.6 million, or $1.34 per diluted share for Q3 2022, compared to $81.7 million or $1.17 per share in Q3 2021. Adjusted net income was $91.8 million ($1.32 per share). The company saw tangible book value increase by 10.4% to $28.62 per share. Net interest income rose by 11.2% to $213.9 million, while net interest margin improved to 3.97%. However, noninterest income fell by 22.1% due to decreased mortgage banking activity.
Ameris Bancorp (Nasdaq: ABCB) will release its Q3 2022 financial results after market close on October 27, 2022. CEO H. Palmer Proctor, Jr., CFO Nicole S. Stokes, and Chief Credit Officer Jon S. Edwards will host a teleconference on October 28, 2022, at 9:00 a.m. Eastern Time to discuss the results. The call can be accessed via phone, with a replay available until November 11, 2022. Financial details will be accessible on the Investor Relations page of the Ameris Bank website.
Ameris Bank has launched the Ameris Down Payment Grant Program, committing $10 million over three years to assist eligible first-time homebuyers with down payment and closing costs. The program offers up to $12,500 in forgivable grants and includes homebuyer education. Designed to aid low-to-moderate income buyers, particularly in underserved and minority communities, this initiative aims to foster homeownership amidst challenging housing market conditions. More information is available at amerisbank.com/grant.
Ameris Bancorp (Nasdaq: ABCB) reported strong financial results for Q2 2022, with net income of $90.1 million ($1.30 per diluted share), up from $88.3 million a year earlier. Adjusted total revenue increased by $14.2 million (5.7%) from the previous quarter. Tangible book value grew to $27.89 per share, a 15.7% annualized increase. The net interest margin improved to 3.66%, with organic loan growth of $1.4 billion (35.1% annualized). While noninterest income saw a slight decline, noninterest expenses decreased by 1.1%.
Ameris Bancorp (Nasdaq: ABCB) will release its second quarter 2022 financial results on July 26, 2022, after market close. CEO H. Palmer Proctor, Jr., CFO Nicole S. Stokes, and Chief Credit Officer Jon S. Edwards will host a teleconference on July 27, 2022, at 9:00 a.m. Eastern time to discuss the results. Interested parties can access the call at 1-844-200-6205 (or 1-929-526-1599 internationally) with the access code 603616. A replay will be available until August 10, 2022. More details will be available on their Investor Relations page.
On May 2, 2022, Ameris Bank announced a donation of $1,805,000 to 18 rural hospitals in Georgia as part of the Georgia HEART Hospital Program. Since 2018, the bank has contributed over $7,800,000 to support rural healthcare. This initiative aims to enhance funding for critical access hospitals, allowing them to allocate resources effectively. The program is linked to the Georgia Rural Hospital Tax Credit, which enables local businesses to support healthcare facilities. Ameris Bancorp manages over $23 billion in assets.
Ameris Bancorp (ABCB) reported net income of $81.7 million or $1.17 per diluted share for Q1 2022, down from $125 million or $1.79 per share in Q1 2021. Organic loan growth reached $269.5 million (6.8% annualized), with tangible book value growing to $26.84 per share. The net interest margin improved by 17bps to 3.35%. Adjusted net income was $75 million, reflecting ongoing organic growth despite challenging conditions. However, total assets slightly decreased to $23.56 billion, and credit quality showed slight deterioration with nonperforming assets increasing to 0.47%.
Ameris Bancorp (Nasdaq: ABCB) has announced its intention to release its first quarter 2022 financial results following the market close on April 26, 2022. The company's leadership, including CEO H. Palmer Proctor, Jr., CFO Nicole S. Stokes, and Chief Credit Officer Jon S. Edwards, will host a teleconference on April 27, 2022, at 9:00 a.m. Eastern time to discuss these results. Interested parties can access the call by dialing 1-844-200-6205 and the replay will be available until May 11, 2022.
Ameris Bank announced a significant reduction and elimination of certain overdraft fees effective May 31, 2022. Key changes include the removal of non-sufficient funds fees and extended overdraft fees, as well as the ability for customers to use savings accounts as overdraft protection without additional charges. While a $35 overdraft fee will remain, the daily cap on overdraft fees will decrease from five to three. CEO Palmer Proctor emphasized these changes aim to improve customer financial management and align with their mission to promote financial peace of mind.
Ameris Bancorp (Nasdaq: ABCB) reported record net income of $376.9 million, or $5.40 per diluted share, for 2021, a significant increase from $262.0 million, or $3.77 per diluted share, in 2020. Adjusted net income for the year was $368.7 million, or $5.29 per diluted share. For Q4 2021, net income was $81.9 million, down from $94.3 million in Q4 2020. Loan growth reached 10.5% excluding PPP loans, with a 10.8% growth in tangible book value. The efficiency ratio improved to 54.85%.
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