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Mar 31, 2020
Ameris Bank Q1 2020 Earnings Report
Ameris Bank's net income decreased due to an increase in provision for loan loss expense and a servicing asset write-down.
Key Takeaways
Ameris Bancorp reported a net income of $19.3 million, or $0.28 per diluted share, for the quarter ended March 31, 2020. 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.
Net income was $19.3 million after pre-tax provision for credit losses of $41.0 million and servicing asset write-downs of $22.2 million.
Adjusted total revenue grew by $12.9 million, or 6.1%, compared to Q4 2019.
Adjusted efficiency ratio was 59.87%, compared to 55.61% in Q4 2019.
Net interest margin was 3.70%, compared to 3.86% in Q4 2019.
Revenue by Segment
Forward Guidance
No forward guidance was provided in the earnings report.
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Avg. Return Before/After Earnings
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