Ameris Bancorp (ABCB) Misses Q2 EPS by 1c

Ameris Bancorp (NASDAQ: ABCB) reported Q2 EPS of $0.38, $0.01 worse than the analyst estimate of $0.39. Revenue for the quarter came in at $64.9 million versus the consensus estimate of $60.46 million.

Edwin W. Hortman, Jr., President and CEO said, "Lingering credit costs have overshadowed the improvements we have made in our operating results for too long and depressed our earnings valuation. The charge we recorded in the second quarter will allow us to manage the disposition of non-performing assets in an accelerated fashion with credit costs that are commensurate with our peer group. Deploying the liquidity from the recent deals and achieving the cost savings we have projected will further improve our return on assets and return on equity and I do not want that overshadowed by outsized credit related costs."

For earnings history and earnings-related data on Ameris Bancorp (ABCB) click here.

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