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Sep 30, 2020
Ameris Bank Q3 2020 Earnings Report
Net income increased primarily due to mortgage banking activity and net interest income increases, and merger and conversion charges decrease.
Key Takeaways
Ameris Bancorp reported a record net income of $116.1 million, or $1.67 per diluted share, for Q3 2020, driven by increases in mortgage banking activity and net interest income, and a decrease in merger and conversion charges.
Net income of $116.1 million, or $1.67 per diluted share, compared with $32.2 million, or $0.47 per diluted share, in the second quarter of 2020
Tangible book value growth of $1.56 per share, or 7.5%, to $22.46 compared with $20.90 at June 30, 2020
Growth in adjusted total revenue of $30.0 million, or 10.2%, compared with the second quarter of 2020
Increase in income from mortgage banking activity of $33.7 million compared with the second quarter of 2020
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
Ameris outlook remains optimistic for the remainder of 2020 and beyond.