Ameris Bancorp (ABCB) Misses Q1 EPS by 20c

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Go back to Ameris Bancorp (ABCB) Misses Q1 EPS by 20c

Ameris Bancorp Announces Financial Results For First Quarter 2020

April 23, 2020 4:30 PM EDT

ATLANTA, April 23, 2020 /PRNewswire/ -- Ameris Bancorp (Nasdaq: ABCB) (the "Company") today reported net income of $19.3 million, or $0.28 per diluted share, for the quarter ended March 31, 2020, compared with $39.9 million, or $0.84 per diluted share, for the quarter ended March 31, 2019.  The decline in net income is attributable to a $37.6 million increase in provision for loan loss expense and a $22.2 million servicing asset write-down in the first quarter of 2020.  The Company reported adjusted net income of $39.2 million, or $0.56 per diluted share, for the quarter ended March 31, 2020, compared with $42.6 million, or $0.90 per diluted share, for the same... More