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.
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Ameris Bancorp reported solid financial results for the first quarter of 2024, with a net income of $74.3 million, or $1.08 per diluted share. Key highlights include an adjusted ROA of 1.20%, growth in tangible book value, and organic growth in loans and total deposits. The Company's net interest margin decreased to 3.51%, primarily due to rising deposit costs. Noninterest income increased by $9.6 million, driven by mortgage banking activity. Expenses decreased slightly, and the Company's effective tax rate improved. Total assets, loans, and deposits grew, with strong credit quality. Shareholders' equity increased, and tangible book value per share rose by 10.5%.
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0.78%
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Ameris Bancorp (ABCB) is set to release its first quarter 2024 financial results on April 25, 2024. The company's key executives will host a teleconference on April 26, 2024, to discuss the results. Investors can access the conference call and replay details on the Investor Relations page of the Ameris Bank website.
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Ameris Bank appoints Brady Gailey as Executive Director of Corporate Development, bringing extensive banking industry experience. Gailey's role includes investor relations, strategic analysis, and financial performance review. Gailey's background in equity research and managing IPOs adds significant value to Ameris Bank's growth strategy.
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Ameris Bank wins five Greenwich Excellence Awards for Small Business Banking in 2023, recognizing their outstanding performance in overall satisfaction, cash management, and proactive advice provision. The awards are based on interviews with 28,000 small business executives nationwide, highlighting Ameris Bank's commitment to excellence and customer satisfaction.
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Ameris Bancorp (ABCB) appoints Claire E. McLean, a seasoned executive in the financial services industry, as a director of the company. Ms. McLean brings deep financial and regulatory experience, having served in various leadership roles in banking, finance, and capital markets. Her appointment is expected to add great value to the company, as stated by Palmer Proctor, CEO of Ameris Bancorp.
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0.57%
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Ameris Bancorp (ABCB) reported net income of $65.9 million for Q4 2023, a decrease from $82.2 million in Q4 2022. For the full year 2023, net income was $269.1 million, compared to $346.5 million in 2022. Adjusted net income for 2023 was $276.3 million. The net interest margin was 3.54% in Q4 2023, down from 4.03% in Q4 2022. Noninterest income decreased by 11.0% in Q4 2023. The Company's total deposits amounted to $20.71 billion at the end of 2023, with total assets at $25.20 billion. The Company's effective tax rate for 2023 was 24.6%, compared with 23.5% in 2022. Credit quality remains strong, with nonperforming assets as a percentage of total assets at 0.33% at the end of 2023.
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Ameris Bank launches the Ameris Choice program, offering up to $20,000 in assistance to qualified applicants in Jacksonville, FL for home purchase or refinance. The program allows borrowers to choose how the funds are applied, available for individuals in majority Black and Hispanic census tracts, and aims to provide equitable opportunities for homeownership.
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Ameris Bancorp (ABCB) plans to release its Q4 and full year 2023 financial results on January 25, 2024, followed by a teleconference on January 26, 2024. The teleconference will be hosted by CEO H. Palmer Proctor, Jr., CFO Nicole S. Stokes, and Chief Credit Officer Jon S. Edwards to discuss the results and answer questions. The financial information will be available on the Investor Relations page of the Ameris Bank website.
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Ameris Bank (Ticker: AMBK) appoints Clyde Anderson as director of Community Lending, aiming to enhance its Community Reinvestment Act (CRA) and Fair Lending programs. Anderson's extensive background in community development, government relations, and the mortgage business aligns with the bank's goal of providing financial peace of mind to customers and communities.
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Ameris Bank has promoted Ross McWilliams to executive vice president and managing director of the banks' Homebuilder Division. This division provides loans and additional banking services for new home construction, lot purchases, and development. McWilliams has over 15 years of experience with Ameris Bank and 30 years in the homebuilding industry. The bank aims to tailor solutions to each customer's specific needs in the face of unique challenges in the homebuilder industry.
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Ameris Bancorp
Nasdaq:ABCB
ABCB Rankings
ABCB Stock Data
3.43B
64.90M
5.57%
93.9%
1.92%
Commercial Banking
Finance and Insurance
United States of America
ATLANTA
About ABCB
from our earliest beginnings in 1971, our founders envisioned a bank known for its steadfast combination of character, service and value. we continue to hold true to these core traits, while also capitalizing on innovative products and services. as of today, we have... -approximately $5.2 billion in assets -over 100 full-service banking and mortgage locations -over 20 years of consecutive average asset growth -15 quarters of continued profitability as ameris bank has maneuvered through the latest economic cycle ...and our parent company, ameris bancorp, is publicly traded on the nasdaq under abcb throughout our history, ameris bank has experienced and is continuing to experience progress, innovation, and development. regardless of our expansion and growth, ameris bank will always stay true to our roots: a high-performing community bank with an emphasis on providing exceptional customer experiences. to learn more about us, please visit: www.amerisbank.com