Ameris Bancorp(US:ABCB)2021-04-23 14:18Financial Performance - Net income for 1Q21 was $125.0 million, a 547% increase compared to $19.322 million in 1Q20[9] - Net income per diluted share for 1Q21 was $1.79, a 539% increase compared to $0.28 in 1Q20[9] - Return on average assets for 1Q21 was 2.44%, a 468% increase compared to 0.43% in 1Q20[9] - Adjusted net income for 1Q21 was $115.7 million, a 195% increase compared to $39.205 million in 1Q20[9] - The efficiency ratio improved to 52.59% in 1Q21, compared to 68.23% in 1Q20[9] Loan Portfolio and Credit Quality - Total loans outstanding were $14.6 billion[43] - The allowance for loan losses (ALLL) totaled $178.6 million at 1Q21, representing 1.22% of gross loans[33] - Non-performing assets (NPA) decreased to 0.40% of total assets[10,41] - Active COVID deferrals totaled $280.2 million, or 1.9% of total loans[36] Growth and Capital - Tangible book value (TBV) increased $1.58 per share to $25.27 per share, compared with $23.69 at the end of 4Q20[10] - TCE / TA at quarter end of 8.62%, up from 8.47% at the end of 4Q20[27]