The following is a summary of the Ameris Bancorp (ABCB) Q2 2024 Earnings Call Transcript:
Financial Performance:
Ameris Bancorp reported a net income of over $90 million or $1.32 per diluted share, representing an ROA of 1.41% and a PPNR ROA of over 2.25%.
The margin expanded to 3.58%, and net interest income increased by over $10 million for the quarter.
Loans grew over $392 million, and tangible book value increased to $35.79 per share.
Business Progress:
Ameris Bancorp has shifted to the New York Stock Exchange, enhancing its marketplace presence.
Deposits grew by $446 million which supported strong loan growth, without increasing broker deposits.
Opportunities:
Located in robust Southeastern markets expected to grow 1.7 times the national average, offering significant growth opportunities.
Ameris plans to continue its strong performance with a focus on tangible book value growth and disciplined expense management.
Risks:
The slow and gradual growth from mortgage services as market seasonality affects production rates towards the year-end.
More details: Ameris Bancorp IR
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