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 reports news as a bank holding company operating through Ameris Bank, a state-chartered bank serving consumer and business customers across a Southeast financial-center network and nationwide through selected lending channels. Updates commonly cover quarterly earnings, net interest income and margin trends, loan and earning-asset growth, credit-related commentary, and capital actions such as dividends and common-stock repurchases.
Company announcements also address Ameris Bank products and service lines, including traditional banking and lending, treasury and cash management, mortgage and refinancing services, equipment finance, warehouse lending, and insurance premium financing. Governance and leadership changes at the bank holding company and its subsidiary are recurring disclosure themes.
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.
Ameris Bancorp (ABCB) reported a net income of $32.2 million or $0.47 per diluted share for Q2 2020, down from $38.9 million or $0.82 in Q2 2019. This decline is primarily due to an increase in credit loss provision of $83.5 million and salaries by $19.2 million. Adjusted net income was $42.4 million or $0.61 per diluted share. Year-to-date, net income was $51.6 million compared to $78.8 million in 2019. The allowance for credit losses rose to $208 million. The company managed to fund $1.4 billion in new loans, including PPP loans.