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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 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%.
Ameris Bancorp (Nasdaq: ABCB) will release its fourth quarter and full year 2020 financial results after market close on January 28, 2021. A teleconference led by CEO H. Palmer Proctor, CFO Nicole S. Stokes, and Chief Credit Officer Jon S. Edwards is scheduled for 9:00 a.m. ET on January 29, 2021. This call allows investors to discuss results. The call can be accessed by dialing specified numbers based on location. A replay will be available until February 12, 2021, along with financial information on the company's Investor Relations page.
Ameris Bancorp (ABCB) reported a substantial net income of $116.1 million, or $1.67 per diluted share, for Q3 2020, up from $21.4 million, or $0.31 per diluted share, in Q3 2019. The growth is attributed to increased mortgage banking activity of $85.6 million and net interest income of $13.8 million, despite a rise in credit loss provisions of $11.7 million. Year-to-date, net income reached $167.7 million, or $2.42 per diluted share, compared to $100.2 million, or $1.83 in 2019. The outlook remains optimistic as the company adapts to market changes.
Ameris Bancorp (Nasdaq: ABCB) will release its third quarter 2020 financial results on October 22, 2020, after market closure. A teleconference is scheduled for 9:00 a.m. ET on October 23, 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 by dialing 1-877-504-1190 (or 1-855-669-9657 for Canada, 1-412-902-6630 for international calls) with the conference ID Ameris Bancorp ABCB. Replay available until November 6, 2020.
Ameris Bancorp (Nasdaq: ABCB) has successfully closed an underwritten public offering of $110 million in 3.875% fixed-to-floating rate subordinated notes due 2030. These Notes will initially feature a fixed interest rate of 3.875% until October 1, 2025, after which they will shift to a floating rate based on the Benchmark rate plus 375.3 basis points. The proceeds will be utilized for general corporate purposes. This offering was managed by Keefe, Bruyette & Woods and Piper Sandler. The offering is registered under the Securities Act of 1933.
Ameris Bancorp (Nasdaq: ABCB) has announced the pricing of its public offering of $110 million in 3.875% Fixed-to-Floating Rate Subordinated Notes due 2030. The Notes will start with a fixed interest rate of 3.875% and shift to a floating rate based on the Three-Month Term SOFR plus 375.3 basis points from October 1, 2025. The offering is set to close on September 28, 2020, pending customary conditions. Proceeds will be used for general corporate purposes. This issuance is part of an effective shelf registration with the SEC.
Ameris Bancorp (NASDAQ: ABCB) announces strategic growth plans focusing on high-impact markets. The company is investing in seasoned banking talent, expanding its market presence in Tampa, Greenville, Augusta, and Charlotte, and enhancing its technology infrastructure. CEO Palmer Proctor highlights a strong balance sheet, allowing for significant investments despite economic challenges. The bank is also prioritizing digital offerings to meet evolving consumer preferences. Last year's net income reached $161.4 million, indicating resilience during the pandemic.
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