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 (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.