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Ameris Bank Expands Homebuyer Assistance Program to $10,000
Ameris Bank is supporting first-time homebuyers with the expansion of its Ameris Choice homebuyer assistance program. Now, qualified homebuyers purchasing in eligible markets in Atlanta can receive up to $10,000 in down payment assistance through the program. Ameris Choice brings tailored assistance to more communities while continuing to promote equitable access to homeownership. The program is available to qualified first-time homebuyers purchasing a primary residence in eligible areas, including metropolitan Deltona/Daytona, Jacksonville, Ocala and Tallahassee, Florida; Atlanta and Gainesville, Georgia; Greenville, South Carolina; and certain designated affordable housing community development areas in Charleston, South Carolina.
Ameris Reports Q2 Revenue of $326.02M, Beating Consensus
Reports Q2 revenue $326.02M, consensus $323.78M. Reports return on average assets of 0.73%; Adjusted ROA of 1.53%; Return on average tangible common equity of 6.75%; Adjusted ROTCE of 14.08%. Commenting on the Company's results, Palmer Proctor, the Company's Chief Executive Officer, said, "Ameris delivered another quarter of strong underlying operating performance, underscoring the resilience of our franchise and the earning power of our business and reflecting the consistency of our long-term strategy and disciplined execution across the organization. We generated a return on assets of 1.53% on an adjusted basis, maintained a stable net interest margin of 3.88% and delivered annualized earning asset growth of 8.5%. We continued to build long-term shareholder value through a relentless focus on profitable growth and a high-quality balance sheet funded with 30% noninterest bearing deposits and tangible common equity exceeding 11%. During the quarter, we were pleased to announce our expansion into the Nashville market, another important step in extending our high-performing Southeast franchise and creating additional opportunities for profitable growth."
Ameris Bancorp Files Automatic Mixed Securities Shelf
Ameris Bancorp files automatic mixed securities shelf
Ameris Reports Strong Q1 Performance with ROA of 1.62%
Commenting on the company's results, Palmer Proctor, the Company's Chief Executive Officer, said, "First quarter was a strong start to the year with our performance metrics continuing to outpace the broader industry. Our ROA expanded to 1.62%, our return on average tangible common equity grew to 14.75% and our margin expanded 3 basis points to 3.88% for the first quarter. The continued focus on expenses across the Company resulted in an efficiency ratio just under 50% despite some seasonal headwinds. Growth was robust with annualized revenue growth in the high single digits and annualized loan and deposit growth in the mid-single digits. We were more active in our share repurchase program, buying back almost $75 million of our common stock in the quarter or approximately 1.4% of our outstanding equity. Overall, another solid quarter from Ameris with our focus remaining on profitably growing our franchise across our attractive Southeast markets."
Ameris Bank Executives Jim LaHaise and Bill McKendry Announce Retirement
Ameris Bank announced that Chief Strategy Officer Jim LaHaise and Chief Risk Officer Bill McKendry each has announced his intention to retire this year. "Jim and Bill have been exemplary leaders, guiding our organization with integrity and a steadfast commitment to excellence in serving our customers," said Palmer Proctor, CEO of Ameris Bank. "On behalf of the entire Ameris team, I share our sincere gratitude for their outstanding leadership and dedicated service to Ameris Bank." David Boggs, currently General Auditor at Ameris, will be promoted to Chief Risk Officer, following a period of transition. Boggs joined Ameris in 2018 and currently leads the Internal Audit and Credit Risk Review functions, overseeing the development and execution of audit and loan review plans, ensuring regulatory compliance and reporting results to executive leadership. Chief Governance Officer, Michael Pierson, with nearly thirty years of experience with the company, will take on executive oversight of Ameris Bank Mortgage, Ameris Bank Equipment Finance and US Premium Finance from LaHaise.
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