ATLANTA, July 2, 2024 /PRNewswire/ -- Ameris Bancorp (Nasdaq: ABCB) (the "Company") announced today that it intends to release its second quarter 2024 financial results in a press release after the market closes on Thursday, July 25, 2024. H. Palmer Proctor, Jr., Chief Executive Officer, Nicole S. Stokes, Chief Financial Officer, and Douglas D. Strange, Chief Credit Officer, will host a teleconference at 9:00 a.m. Eastern time on Friday, July 26, 2024 to discuss the Company's results and answer appropriate ...

ATLANTA, June 12, 2024 /PRNewswire/ -- Ameris Bank is donating $2.23 million to 40 rural hospitals in Georgia, as part of the Georgia HEART Hospital Program in 2024. Ameris has been participating in the state income tax credit program since 2018, contributing more than $12 million."Ameris is proud to support our rural hospitals and the communities they serve," said Ameris Bank CEO Palmer Proctor. "The Georgia HEART Hospital Program is important because it not only provides much needed funding to these cruci ...

Investors in Ameris Bancorp (ABCB) need to pay close attention to the stock based on moves in the options market lately. That is because the Jul 19, 2024 $35 Call had some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean ...

ATLANTA, May 31, 2024 /PRNewswire/ -- Ameris Bank ranked among the Top 10 banks in the U.S. for the largest retail mortgage volume in the first quarter of this year, according to data reported by National Mortgage News today. The industry data was cited from quarterly call reports from the Federal Financial Institutions Examination Council. "I credit our strong mortgage origination volume to our team of professionals who offer expert counsel, quick mortgage underwriting decisions, and attractive mortgage ra ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-13901 AMERIS BANCORP (Exact name of registrant as specified in its charter) Georgia 58-1456434 (State of incorporation) (IRS Employer ID No.) 3490 Piedmont Rd N. ...

Financial Data and Key Metrics Changes - The company reported net income of $74.3 million, or $1.08 per diluted share, with adjusted earnings of $75.6 million, or $1.10 per diluted share when excluding special items [8][9] - Adjusted return on assets improved to 1.20%, and adjusted return on tangible common equity improved to 12.88% [8] - Total assets increased to $25.7 billion from $25.2 billion at the end of the previous year, with loans increasing by approximately $330 million and deposits increasing by $289 million [11] Business Line Data and Key Metrics Changes - Noninterest income increased by $9.6 million, primarily driven by the mortgage division due to improved gain on sale margins [10] - Total adjusted noninterest expense rose by about $6.5 million, mainly due to cyclical payroll taxes and 401(k) matching contributions [10] - The mortgage outlook remains positive, with expectations of staying above a 2% gain on sale margin, although future performance may be influenced by market conditions [18][19] Market Data and Key Metrics Changes - The company experienced a 5.6% annualized growth in deposits and a 6.5% annualized growth in loans [5][11] - The net interest margin remained strong at 3.51%, with only a slight compression of 3 basis points [9][10] - The company anticipates mid-single-digit loan and deposit growth for 2024, with deposit growth expected to govern loan growth [11] Company Strategy and Development Direction - The company is focused on maintaining a strong capital position, with a tangible common equity ratio of 9.71% and a healthy reserve for credit losses [7] - The strategy includes a disciplined approach to matching loans and deposits, emphasizing the importance of noninterest-bearing deposits [45] - The company aims to leverage its diversified revenue streams and strong core deposit base to navigate potential economic changes [7][10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's position, citing a solid core deposit base, healthy margins, and a well-capitalized balance sheet [7] - The management team remains cautious about predicting future interest rate movements but is prepared for various scenarios [10][48] - The company is focused on capital preservation and is not currently planning to change its approach to capital deployment [31][55] Other Important Information - The company recorded a provision for credit losses of $21 million, resulting in a coverage ratio of 1.55% of loans and 325% of non-performing assets [6] - The company purchased approximately $2.1 million of common stock during the first quarter, with $94.7 million remaining available for buybacks [8] Q&A Session Summary Question: Outlook on margin and net interest income - Management noted a cautious optimism regarding margin trends, with a slowdown in deposit cost increases and a stable deposit mix [14][15] Question: Mortgage outlook and revenue growth expectations - The mortgage outlook is positive, with expectations of staying above a 2% gain on sale margin, although future performance may be influenced by market conditions [18][19] Question: Cost containment in the mortgage division - The mortgage division has successfully controlled expenses, but some expense growth is expected as production ramps up [21] Question: Trends in credit and reserve build - The reserve build is model-driven, with no signs of credit deterioration observed at this stage [25][32] Question: Capital deployment priorities - The company is currently focused on capital preservation, with buybacks available if needed, but no immediate changes in strategy are anticipated [31][55]

1st Quarter 2024 Results Investor Presentation Cautionary Statements This presentation contains forward-looking statements, as defined by federal securities laws, including, among other forward- looking statements, certain plans, expectations and goals. Words such as “may,” “believe,” “expect,” “anticipate,” “intend,” “will,” “should,” “plan,” “estimate,” “predict,” “continue” and “potential” or the negative of these terms or other comparable terminology, as well as similar expressions, are meant to identif ...

For the quarter ended March 2024, Ameris Bancorp (ABCB) reported revenue of $268.22 million, up 0.2% over the same period last year. EPS came in at $1.10, compared to $0.86 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $259.71 million, representing a surprise of +3.28%. The company delivered an EPS surprise of +3.77%, with the consensus EPS estimate being $1.06.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Str ...

Ameris Bancorp (ABCB) came out with quarterly earnings of $1.10 per share, beating the Zacks Consensus Estimate of $1.06 per share. This compares to earnings of $0.86 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.77%. A quarter ago, it was expected that this bank would post earnings of $1.12 per share when it actually produced earnings of $1.07, delivering a surprise of -4.46%.Over the last four quarters, the company has s ...

Exhibit 99.1 News Release AMERIS BANCORP ANNOUNCES FINANCIAL RESULTS FOR FIRST QUARTER 2024 Highlights of Ameris’s results for the first quarter of 2024 include the following: · Net income of $74.3 million, or $1.08 per diluted share; Adjusted net income of $75.6 million, or $1.10 per diluted share · Return on average assets ("ROA") of 1.18%; Adjusted ROA of 1.20% · Pre-tax, pre-provision net revenue (PPNR) ROA of 1.89% · Growth in tangible book value of $0.88 per share, or 10.5% annualized, to $34.52 at Ma ...