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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.
Ameris Bank
Ameris Bank
Ameris Bank Revenue by Segment
Revenue by Segment
Retail Mortgage Revenue
CapyFin.comWarehouse Lending Revenue
CapyFin.comPremium Finance Revenue
CapyFin.comBanking Division Revenue
CapyFin.com Forward Guidance
No forward guidance was provided in the earnings report.