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 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%.
Ameris Bancorp (Nasdaq: ABCB) announced that it will release its fourth quarter and full year 2021 financial results after the market closes on January 27, 2022. CEO H. Palmer Proctor, Jr. and CFO Nicole S. Stokes will host a teleconference on January 28, 2022 at 9:00 a.m. ET to discuss the results and answer questions. The call can be accessed at 1-844-200-6205 with a replay available until February 4, 2022. Financial details will also be posted on the company's Investor Relations website.
Ameris Bancorp (Nasdaq: ABCB) announced the acquisition of Balboa Capital Corporation, enhancing its small business lending initiatives and positioning in the point-of-sale financing market. This all-cash transaction is expected to lead to significant earnings accretion and manageable tangible book value dilution, with a four-year earn-back period. Balboa Capital, a leader in online business lending, boasts an expected origination exceeding $415 million in 2021. The merger aims to streamline online lending capabilities, aided by Balboa's 30 years of technology expertise.
Ameris Bancorp (Nasdaq: ABCB) reported net income of $81.7 million or $1.17 per diluted share for Q3 2021, down from $116.1 million or $1.67 per diluted share year-over-year. Adjusted net income was $83.9 million compared to $116.9 million in 2020. Year-to-date, net income reached $295.0 million, an increase from $167.7 million in 2020. Loans grew by 7% annualized, and tangible book value per share increased 3.8%. However, noninterest income decreased by 14.2%, primarily due to reduced mortgage banking activity.
Ameris Bancorp (Nasdaq: ABCB) has announced the release date of its third quarter 2021 financial results, set for October 28, 2021, after market close. A teleconference will follow at 9:00 a.m. ET on October 29, 2021, 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 call at 1-844-200-6205 and will have an opportunity to listen to the replay until November 5, 2021.
Ameris Bancorp (ABCB) reported net income of $88.3 million, or $1.27 per diluted share, for Q2 2021, up from $32.2 million or $0.47 per diluted share in Q2 2020. Adjusted net income reached $87.5 million, compared to $42.4 million a year earlier. Loan growth was strong, with 5% annualized growth, plus 14% excluding PPP loans. Total assets increased to $21.89 billion from $20.44 billion at year-end 2020. The tangible book value per share rose 4.7% to $26.45. Despite positives, net interest margin fell to 3.34% from 3.57% in Q1 2021.
Ameris Bancorp (Nasdaq: ABCB) announced the release date for its second quarter 2021 financial results, scheduled for after market close on July 22, 2021. A teleconference will occur on July 23, 2021, at 9:00 a.m. Eastern time, featuring CEO H. Palmer Proctor, Jr., CFO Nicole S. Stokes, and CCO Jon S. Edwards, to discuss the results and field questions. The teleconference can be accessed via specific dialing directions for participants in the U.S. and abroad, and will be available for replay until August 6, 2021.