Ameris Bancorp - ABCB STOCK NEWS

Ameris Bancorp (Nasdaq: ABCB) announced the acquisition of Balboa Capital Corporation, enhancing its small business lending initiatives and positioning in the point-of-sale financing market. This all-cash transaction is expected to lead to significant earnings accretion and manageable tangible book value dilution, with a four-year earn-back period. Balboa Capital, a leader in online business lending, boasts an expected origination exceeding $415 million in 2021. The merger aims to streamline online lending capabilities, aided by Balboa's 30 years of technology expertise.

Ameris Bancorp (Nasdaq: ABCB) reported net income of $81.7 million or $1.17 per diluted share for Q3 2021, down from $116.1 million or $1.67 per diluted share year-over-year. Adjusted net income was $83.9 million compared to $116.9 million in 2020. Year-to-date, net income reached $295.0 million, an increase from $167.7 million in 2020. Loans grew by 7% annualized, and tangible book value per share increased 3.8%. However, noninterest income decreased by 14.2%, primarily due to reduced mortgage banking activity.

Ameris Bancorp (Nasdaq: ABCB) has announced the release date of its third quarter 2021 financial results, set for October 28, 2021, after market close. A teleconference will follow at 9:00 a.m. ET on October 29, 2021, featuring CEO H. Palmer Proctor, Jr., CFO Nicole S. Stokes, and Chief Credit Officer Jon S. Edwards to discuss the results. Participants can access the conference call at 1-844-200-6205 and will have an opportunity to listen to the replay until November 5, 2021.

Ameris Bancorp (ABCB) reported net income of $88.3 million, or $1.27 per diluted share, for Q2 2021, up from $32.2 million or $0.47 per diluted share in Q2 2020. Adjusted net income reached $87.5 million, compared to $42.4 million a year earlier. Loan growth was strong, with 5% annualized growth, plus 14% excluding PPP loans. Total assets increased to $21.89 billion from $20.44 billion at year-end 2020. The tangible book value per share rose 4.7% to $26.45. Despite positives, net interest margin fell to 3.34% from 3.57% in Q1 2021.

Ameris Bancorp (Nasdaq: ABCB) announced the release date for its second quarter 2021 financial results, scheduled for after market close on July 22, 2021. A teleconference will occur on July 23, 2021, at 9:00 a.m. Eastern time, featuring CEO H. Palmer Proctor, Jr., CFO Nicole S. Stokes, and CCO Jon S. Edwards, to discuss the results and field questions. The teleconference can be accessed via specific dialing directions for participants in the U.S. and abroad, and will be available for replay until August 6, 2021.

Ameris Bank has unveiled its inaugural Corporate Social Responsibility Report for 2020, reflecting its commitment to investing in people and communities. Key highlights include:

• Funding $1.7 billion in mortgage loans, $250 million in home loans, and donating $1.5 million to civic organizations.
• Forming a Diversity Task Force and offering numerous employee wellness programs, achieving a 92% employee engagement rate.
• Environmental initiatives saving nearly 1,250 trees annually and an investment in LED lighting.

The bank also ranked #28 on Forbes' America's Best Bank 2021 list.

Ameris Bancorp (Nasdaq: ABCB) reported a strong first quarter of 2021, achieving net income of $125.0 million, or $1.79 per diluted share, compared to $19.3 million, or $0.28 per diluted share a year earlier. Key factors driving this growth included a $69.6 million reduction in provision for credit losses and a $63.2 million increase in mortgage banking activity. Adjusted net income reached $115.7 million, or $1.66 per diluted share. The tangible book value rose 6.7% to $25.27, indicating solid financial health and operational efficiency.

Ameris Bancorp (Nasdaq: ABCB) announced that it will release its Q1 2021 financial results on April 22, 2021, after market close. CEO H. Palmer Proctor, Jr., CFO Nicole S. Stokes, and Chief Credit Officer Jon S. Edwards will host a teleconference on April 23, 2021, at 9:00 a.m. ET to discuss the results. Interested participants can join the call by dialing specific numbers based on their location. A replay of the call will be available until May 7, 2021, and details will also be accessible on the Investor Relations page of Ameris Bank's website.

Ameris Bancorp (ABCB) reported a strong financial performance for Q4 2020, achieving net income of $94.3 million, or $1.36 per diluted share, up from $61.2 million or $0.88 per share a year earlier. Full-year net income reached $262.0 million, a $100.5 million increase compared to 2019. Adjusted net income for Q4 was $102.0 million ($1.47 per share), driven by robust mortgage banking activity, which rose 213.3% year-over-year. The company reduced non-performing assets to 0.48% of total assets and maintained a steady net interest margin at 3.64%.