UPDATE: Ameris Bancorp (ABCB) Tops Q1 EPS by 51c

April 22, 2021 4:13 PM EDT

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(Updated - April 22, 2021 4:14 PM EDT)

Ameris Bancorp (NASDAQ: ABCB) reported Q1 EPS of $1.66, $0.51 better than the analyst estimate of $1.15.

Commenting on the Company's results, Palmer Proctor, the Company's Chief Executive Officer, said, "We are pleased with our first quarter results, where we saw solid loan growth, increases in core deposits, stable credit, robust fees and continued momentum in our banking division efficiency initiatives. An improving economy, which resulted in a reversal of provision expense and a recovery of previous MSR (mortgage servicing right) impairment, along with the tremendous core earnings power of Ameris, resulted in tangible book value growth of 6.7% this quarter. Our teammates have continued to remain focused on our key initiatives of superior and innovative customer service, which delivers top-in-class financial results. We are excited about the opportunities we see in our markets and the strength that we have going into the remainder of 2021."

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

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