Ameris Bancorp (ABCB) Misses Q2 EPS by 2c, Miss on Revenues

Ameris Bancorp (NASDAQ: ABCB) reported Q2 EPS of $0.62, $0.02 worse than the analyst estimate of $0.64. Revenue for the quarter came in at $91.3 million versus the consensus estimate of $93.66 million.

Highlights of the Company's performance and results for the second quarter of 2017 include the following:

• Adjusted operating return on average assets of 1.32% and adjusted return on average tangible equity of 14.86%
• Increase in tangible book value per share to $17.24, compared with $16.60 per share at March 31, 2017
• Organic loan growth of $391.3 million for the quarter, reflecting an annualized growth rate of 32.9%
• 10.1% increase in total revenue, to $91.3 million, in the second quarter of 2017, compared with total revenue of $83.0 million in the second quarter of 2016
• Improvement in adjusted operating efficiency ratio, on a tax-equivalent basis, to 59.37% in the second quarter of 2017, compared with 61.93% in the same quarter in 2016
• Tangible common equity to tangible assets of 8.84% at June 30, 2017, compared with 8.86% at March 31, 2017 and 7.46% at December 31, 2016
• Net income from mortgage, Small Business Administration ("SBA") and premium finance lines of business totaling $7.3 million in the second quarter, compared with $6.2 million in the first quarter of 2017

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

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Algorhythm Holdings (RIME) Tops Q2 EPS by 54c
• Blackhawk Network (HAWK) Reports Q2 Loss of $0.07; Offers Guidance