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Mar 31, 2022
Ameris Bank Q1 2022 Earnings Report
Net income decreased and loan growth initiatives resulted in margin expansion.
Key Takeaways
Ameris Bancorp reported solid first quarter results with net income of $81.7 million, driven by responsible organic growth initiatives, despite challenging economic conditions and market volatility. The company experienced annualized loan growth, excluding PPP, of 8.9% and margin expansion of 17 basis points, while maintaining credit quality.
Net income of $81.7 million, or $1.17 per diluted share
Organic growth in loans of $269.5 million, or 6.8% annualized (and $350.7 million, or 8.9% annualized, exclusive of PPP loans), during 2022
Growth in tangible book value of $0.58 per share, or 2.2%, to $26.84 at March 31, 2022, compared with $26.26 at December 31, 2021
Improvement in net interest margin of 17bps, from 3.18% last quarter to 3.35% this quarter
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
This news release contains forward-looking statements, as defined by federal securities laws, including, among other forward-looking statements, certain plans, expectations and goals. Words such as "may," "believe," "expect," "anticipate," "intend," "will," "should," "plan," "estimate," "predict," "continue" and "potential" or the negative of these terms or other comparable terminology, as well as similar expressions, are meant to identify forward-looking statements.
Positive Outlook
- General competitive conditions and fluctuations, including real estate market conditions
- Expectations on credit quality and performance
- The potential impact of the phase-out of the London Interbank Offered Rate ("LIBOR") or other changes involving LIBOR
- The success and timing of other business strategies
- Our outlook and long-term goals for future growth
Challenges Ahead
- General economic, unemployment, political and market conditions and fluctuations, including real estate market conditions, and the effects of such conditions and fluctuations on the creditworthiness of borrowers, collateral values, asset recovery values and the value of investment securities
- Movements in interest rates and their impacts on net interest margin
- Legislative and regulatory changes
- Changes in U.S. government monetary and fiscal policy
- Natural disasters, geopolitical events, acts of war or terrorism or other hostilities, public health crises and other catastrophic events beyond our control.