Ameris Bancorp (ABCB) Misses Q2 EPS by 23c

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Go back to Ameris Bancorp (ABCB) Misses Q2 EPS by 23c

AMERIS BANCORP ANNOUNCES FINANCIAL RESULTS FOR SECOND QUARTER 2023

July 27, 2023 4:05 PM EDT

Highlights of Ameris's results for the second quarter of 2023 include the following:

Net income of $62.6 million, or $0.91 per diluted sharePre-tax, pre-provision net revenue (PPNR) ROA(1) of 2.01%Growth in tangible book value(1) of $0.63 per share, or 8.2% annualized, to $31.42 at June 30, 2023Increase in the allowance for credit losses to 1.33% of loans, from 1.21% at March 31, 2023, due to forecasted economic conditions, particularly related to commercial real estate price levelsAdjusted efficiency ratio(1) of 53.41%, compared with 53.66% in the second... More