Ameris Bancorp reports Q3 EPS $1.16, consensus $1.12

Reports Q3 revenue $270.93M, consensus $273.49M. Reports growth in tangible book value of 96c per share, or 12.2% annualized, to $32.38 at September 30. CEO Palmer Proctor said, “We are proud of another strong quarter, highlighted by core fundamentals and capital growth, which will continue to serve us well as we move into 2024. The profitability of our company remains solid with an ROA of 1.25%, PPNR ROA of over 2%, net interest margin of 3.54% and efficiency ratio of just over 52%. We grew core deposits, tangible book value and improved our allowance for loan loss coverage ratio, all of which strengthened our balance sheet during the quarter. All of these things, combined with our focus on controlled growth, position us well for the remainder of 2023 and moving into 2024.”