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Atlantic Capital Bancshares reported a net income of $13.4 million for Q1 2021, translating to $0.65 per diluted share, significantly up from $2.2 million in Q1 2020. Total assets rose to $3.7 billion, with loans held for investment increasing by 19% year-over-year. Deposits surged by 40% to $3.2 billion. The allowance for credit losses decreased to 1.31% of loans, indicating improved credit quality. The net interest margin fell to 2.81%, reflecting lower interest rates. The company also repurchased $4.2 million in shares during the quarter.
Atlantic Capital Bancshares, Inc. (ACBI) is set to release its first-quarter financial results on April 22, 2021, after market close. A conference call will follow on April 23, 2021, at 1:00 p.m. ET to discuss the results and future outlook. The company, headquartered in Atlanta and boasting assets of $3.6 billion, provides a range of banking services. Investors can access the call via phone or the webcast available on their Investor Relations page.
Atlantic Capital Bancshares (NASDAQ: ACBI) reported a net income of $10.0 million for Q4 2020, up from $7.1 million in Q4 2019. Earnings per diluted share increased to $0.48 from $0.32 year-over-year. The bank experienced significant growth in loans and deposits, with loans up 21% annualized and deposits rising 65% annualized compared to Q3 2020. Non-performing assets decreased to 0.13% of total assets. The company aims for strong performance in 2021, underpinned by a solid balance sheet and business growth.
Atlantic Capital Bancshares, Inc. (ACBI) will release its fourth quarter financial results on January 21, 2021, after market close. A conference call to discuss these results is scheduled for January 22, 2021, at 1:00 p.m. ET. Participants can access the call by dialing 1-833-685-0902 for domestic or 1-412-317-5737 for international lines. The call will also be available via webcast on Atlantic Capital's Investor Relations page.
With assets totaling $2.9 billion, Atlantic Capital offers a range of banking services in the Atlanta area and has received accolades as a Best Place to Work.
Atlantic Capital Bancshares, Inc. (NASDAQ: ACBI) has appointed David Eidson to its Board of Directors, filling a vacancy due to board expansion. Eidson, who will serve until the 2021 Annual Meeting of Shareholders, brings extensive experience in corporate and investment banking as the current President and CEO of Coxe Curry & Associates, a nonprofit consulting firm. His prior roles include leadership positions at RidgeWorth Capital Management and SunTrust. The board aims to leverage Eidson's community leadership and banking expertise to enhance strategic direction.
Atlantic Capital Bancshares (NASDAQ: ACBI) announced an extension of its exchange offer for $75 million in 5.5% subordinated notes due 2030. The offer will now expire on December 10, 2020, following an initial deadline of December 2, 2020. As of December 3, approximately 98% of the Old Notes ($73.5 million) have been tendered. The exchanged notes will have registered status under the Securities Act of 1933. This press release serves informational purposes only and does not constitute a transaction offer.
Atlantic Capital Bancshares (NASDAQ: ACBI) reported third-quarter 2020 net income of $8.6 million, or $0.40 per diluted share, a rise from $8.2 million in Q3 2019 and $1.8 million in Q2 2020. The bank's tangible book value per share increased to $15.11, while total loans held for investment rose to $2.19 billion, a 19.2% year-over-year growth. Capital ratios remained robust, with total risk-based capital at 16.9%. The firm resumed its share repurchase program after issuing $75 million in subordinated debt, reinforcing its balance sheet and earnings outlook.
Atlantic Capital Bancshares, Inc. (ACBI) announced it will release its third quarter financial results on October 22, 2020, after market close. A conference call is scheduled for October 23, 2020, at 10:00 a.m. ET to discuss the results and future outlook. The event will be accessible via phone and a webcast on the company's Investor Relations website. Atlantic Capital, headquartered in Atlanta, has $2.9 billion in assets and offers various banking services to local and national clients.
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