Ameris Bancorp - ABCB STOCK NEWS

Ameris Bancorp (Nasdaq: ABCB) will release its Q3 2022 financial results after market close on October 27, 2022. CEO H. Palmer Proctor, Jr., CFO Nicole S. Stokes, and Chief Credit Officer Jon S. Edwards will host a teleconference on October 28, 2022, at 9:00 a.m. Eastern Time to discuss the results. The call can be accessed via phone, with a replay available until November 11, 2022. Financial details will be accessible on the Investor Relations page of the Ameris Bank website.

Ameris Bank has launched the Ameris Down Payment Grant Program, committing $10 million over three years to assist eligible first-time homebuyers with down payment and closing costs. The program offers up to $12,500 in forgivable grants and includes homebuyer education. Designed to aid low-to-moderate income buyers, particularly in underserved and minority communities, this initiative aims to foster homeownership amidst challenging housing market conditions. More information is available at amerisbank.com/grant.

Ameris Bancorp (Nasdaq: ABCB) reported strong financial results for Q2 2022, with net income of $90.1 million ($1.30 per diluted share), up from $88.3 million a year earlier. Adjusted total revenue increased by $14.2 million (5.7%) from the previous quarter. Tangible book value grew to $27.89 per share, a 15.7% annualized increase. The net interest margin improved to 3.66%, with organic loan growth of $1.4 billion (35.1% annualized). While noninterest income saw a slight decline, noninterest expenses decreased by 1.1%.

Ameris Bancorp (Nasdaq: ABCB) will release its second quarter 2022 financial results on July 26, 2022, after market close. CEO H. Palmer Proctor, Jr., CFO Nicole S. Stokes, and Chief Credit Officer Jon S. Edwards will host a teleconference on July 27, 2022, at 9:00 a.m. Eastern time to discuss the results. Interested parties can access the call at 1-844-200-6205 (or 1-929-526-1599 internationally) with the access code 603616. A replay will be available until August 10, 2022. More details will be available on their Investor Relations page.

On May 2, 2022, Ameris Bank announced a donation of $1,805,000 to 18 rural hospitals in Georgia as part of the Georgia HEART Hospital Program. Since 2018, the bank has contributed over $7,800,000 to support rural healthcare. This initiative aims to enhance funding for critical access hospitals, allowing them to allocate resources effectively. The program is linked to the Georgia Rural Hospital Tax Credit, which enables local businesses to support healthcare facilities. Ameris Bancorp manages over $23 billion in assets.

Ameris Bancorp (ABCB) reported net income of $81.7 million or $1.17 per diluted share for Q1 2022, down from $125 million or $1.79 per share in Q1 2021. Organic loan growth reached $269.5 million (6.8% annualized), with tangible book value growing to $26.84 per share. The net interest margin improved by 17bps to 3.35%. Adjusted net income was $75 million, reflecting ongoing organic growth despite challenging conditions. However, total assets slightly decreased to $23.56 billion, and credit quality showed slight deterioration with nonperforming assets increasing to 0.47%.

Ameris Bancorp (Nasdaq: ABCB) has announced its intention to release its first quarter 2022 financial results following the market close on April 26, 2022. The company's leadership, including CEO H. Palmer Proctor, Jr., CFO Nicole S. Stokes, and Chief Credit Officer Jon S. Edwards, will host a teleconference on April 27, 2022, at 9:00 a.m. Eastern time to discuss these results. Interested parties can access the call by dialing 1-844-200-6205 and the replay will be available until May 11, 2022.

Ameris Bank announced a significant reduction and elimination of certain overdraft fees effective May 31, 2022. Key changes include the removal of non-sufficient funds fees and extended overdraft fees, as well as the ability for customers to use savings accounts as overdraft protection without additional charges. While a $35 overdraft fee will remain, the daily cap on overdraft fees will decrease from five to three. CEO Palmer Proctor emphasized these changes aim to improve customer financial management and align with their mission to promote financial peace of mind.

Ameris Bancorp (Nasdaq: ABCB) reported record net income of $376.9 million, or $5.40 per diluted share, for 2021, a significant increase from $262.0 million, or $3.77 per diluted share, in 2020. Adjusted net income for the year was $368.7 million, or $5.29 per diluted share. For Q4 2021, net income was $81.9 million, down from $94.3 million in Q4 2020. Loan growth reached 10.5% excluding PPP loans, with a 10.8% growth in tangible book value. The efficiency ratio improved to 54.85%.