Ameris Bancorp(US:ABCB)2025-10-27 20:16Financial Performance - Net income for Q3 2025 was $106.0 million, or $1.54 per diluted share, up from $99.2 million, or $1.44 per diluted share in Q3 2024, representing a 7.1% increase [2]. - Year-to-date net income reached $303.8 million, or $4.41 per diluted share, compared to $264.3 million, or $3.83 per diluted share for the same period in 2024, marking a 14.9% increase [3]. - Net income for Q3 2025 was $106,029,000, a decrease of 3.3% from $109,834,000 in Q2 2025 [26]. - Adjusted net income for Q3 2025 was $105,289,000, compared to $109,444,000 in Q2 2025, reflecting a decline of 3.5% [26]. - Net income available to common shareholders for Q3 2025 was $106,029,000, compared to $99,212,000 in Q3 2024, reflecting an increase of 6.8% year-over-year [43]. - Adjusted net income for Q3 2025 was $105,289,000, up from $95,187,000 in Q3 2024, representing a 10.5% increase [43]. - Total consolidated net income for the nine months ended September 2025 was $303,798,000, compared to $264,309,000 for the same period in 2024, reflecting a year-over-year increase of 15% [52]. Income and Revenue - Net interest income increased to $238.9 million in Q3 2025, a rise of $23.9 million, or 11.1%, compared to Q3 2024 [5]. - Noninterest income rose to $76.3 million in Q3 2025, a 10.7% increase from $68.9 million in Q2 2025 [10]. - Total revenue for the three months ended September 2025 was $314,238 thousand, an increase from $300,724 thousand in June 2025, representing a growth of 1.7% [45]. - Net interest income for the nine months ended September 2025 reached $691,616 thousand, up from $627,369 thousand for the same period in 2024, reflecting a year-over-year increase of 10.2% [45]. - The adjusted total revenue (TE) for the nine months ended September 2025 was $901,144 thousand, an increase from $830,803 thousand in the same period of 2024, reflecting a year-over-year growth of 8.5% [45]. Assets and Deposits - Total assets increased to $27,099,829 thousand in September 2025, up from $26,680,153 thousand in June 2025, representing a growth of 1.56% [30]. - Total deposits reached $22,228,078 thousand in September 2025, up from $21,932,675 thousand in June 2025, reflecting a growth of 1.35% [30]. - Total deposits amounted to $21,898,464 thousand in September 2025, a decrease from $21,929,517 thousand in June 2025, reflecting a decline of 0.14% [36]. - Noninterest-bearing deposits increased to $6,849,129 thousand in September 2025, up from $6,766,557 thousand in June 2025, representing a growth of 1.22% [36]. Expenses and Efficiency - Noninterest expense decreased by $694,000, or 0.4%, to $154.6 million in Q3 2025 compared to Q2 2025 [11]. - Total noninterest expense for Q3 2025 was $154,566 thousand, slightly down from $155,260 thousand in June 2025, showing a decrease of 0.4% [45]. - The efficiency ratio improved to 49.19% in Q3 2025 from 51.63% in Q2 2025, indicating better cost management [26]. - The adjusted efficiency ratio for September 2025 improved to 49.47%, compared to 51.58% in June 2025, indicating enhanced operational efficiency [45]. Credit Quality - The allowance for credit losses on loans was 1.62% at September 30, 2025, compared to 1.63% at the end of 2024 [18]. - The allowance for credit losses at the end of September 2025 was $392,362 thousand, an increase from $377,181 thousand in June 2025, indicating a rise of 4.03% [32]. - Non-performing assets totaled $109,428 thousand in September 2025, compared to $97,261 thousand in June 2025, marking an increase of 12.03% [32]. - Net charge-offs for the three months ended September 2025 were $7,449 thousand, a decrease from $7,098 thousand in June 2025, showing a decline of 4.95% [32]. - Provision for credit losses in the Banking Division rose significantly to $21,617,000 in Q3 2025, compared to $677,000 in Q2 2025 [52]. Shareholder Equity - Shareholders' equity increased by $265.2 million, or 7.1%, to $4.02 billion at September 30, 2025, driven by earnings and improved comprehensive income [15]. - Total tangible shareholders' equity as of September 2025 was $2,942,352 thousand, an increase from $2,839,450 thousand in June 2025, marking a growth of 3.6% [46]. - Book value per share increased to $58.56 in September 2025, compared to $57.02 in June 2025, reflecting a growth of 2.7% [46]. Loan Performance - Loans, net of unearned income, rose to $21,258,374 thousand in September 2025, compared to $21,041,497 thousand in June 2025, an increase of 1.03% [30]. - Commercial and industrial loans rose to $3,299,269 thousand in September 2025, compared to $3,184,211 thousand in June 2025, marking an increase of 3.61% [34]. - Total loans increased to $21,258,374 thousand in September 2025, up from $21,041,497 thousand in June 2025, representing a growth of 1.03% [34]. - Retail Mortgage Division net interest income for Q3 2025 was $20,179,000, a decrease of 10.5% from Q2 2025's $22,031,000 [50]. - The Retail Mortgage Division's net income for Q3 2025 was $18,700,000, up 20.4% from $15,556,000 in Q2 2025 [50].