The following is a summary of the Ameris Bancorp (ABCB) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Ameris Bancorp reported a strong Q3 with a net income of $99.2 million or $1.44 per diluted share.

• Their third-quarter margin was 3.51% which remains well above peer levels, with net interest income continuing to increase.

• They achieved a return on tangible common equity of 15% and an adjusted return on assets of 1.43%.

Business Progress:

• Ameris achieved a $5.2 million gain from their second MSR sale of the year, aiding the reduction of Ginnie Mae non-performing loans by over 90%.

• They have managed to maintain a strong asset diversification and geographical spread which supports consistent business expansion in its Southeastern footprint. They anticipate ongoing growth and asset diversification into 2025.

• The bank continues to focus on organic growth and maintains additional capital to utilize potential growth opportunities.

Opportunities:

• Ameris has opportunities in higher deposit growth and loan production rates, bolstered by their strong presence in growing markets.

• Additional M&A opportunities are conceivable, driven by their strategic capital readiness.

Risks:

• Potential economic uncertainties impacting the financial markets could pose risks to expected outcomes.

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