{"id":516708,"date":"2021-07-22T16:09:41","date_gmt":"2021-07-22T20:09:41","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/ameris-bancorp-announces-financial-results-for-second-quarter-2021\/"},"modified":"2021-07-22T16:09:41","modified_gmt":"2021-07-22T20:09:41","slug":"ameris-bancorp-announces-financial-results-for-second-quarter-2021","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ameris-bancorp-announces-financial-results-for-second-quarter-2021\/","title":{"rendered":"Ameris Bancorp Announces Financial Results For Second Quarter 2021"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n ATLANTA<\/span>, July 22, 2021<\/span> \/PRNewswire\/ —\u00a0Ameris Bancorp (Nasdaq: ABCB) (the “Company”)\u00a0today reported net income of $88.3 million<\/span>, or $1.27<\/span> per diluted share, for the quarter ended June 30, 2021<\/span>, compared with $32.2 million<\/span>, or $0.47<\/span> per diluted share, for the quarter ended June 30<\/span>, 2020.\u00a0 The Company reported adjusted net income of $87.5 million<\/span>, or $1.25<\/span> per diluted share, for the quarter ended June\u00a030, 2021, compared with $42.4 million<\/span>, or $0.61<\/span> per diluted share, for the same period in 2020.\u00a0 Adjusted net income excludes after-tax merger and conversion charges, servicing right valuation adjustments, restructuring charges related to branch consolidations and efficiency initiatives, certain legal expenses, gain on bank owned life insurance (“BOLI”) proceeds, (gain)\/loss on sale of bank premises and expenses related to the COVID-19 pandemic.<\/p>\n

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\n \"Ameris
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For the year-to-date period ending June\u00a030, 2021, the Company reported net income of $213.3 million<\/span>, or $3.06<\/span> per diluted share, compared with $51.6 million<\/span>, or $0.74<\/span> per diluted share, for the same period in 2020. The Company reported adjusted net income of $203.3 million<\/span>, or $2.91<\/span> per diluted share, for the six months ended June\u00a030, 2021, compared with $81.6 million<\/span>, or $1.18<\/span> per diluted share, for the same period in 2020. Adjusted net income for the year-to-date period excludes the same items listed above for the Company’s quarter-to-date period.<\/p>\n

Commenting on the Company’s results, Palmer Proctor<\/span>, the Company’s Chief Executive Officer, said, “Our positive second quarter results are a clear testament to our focus and discipline over the past year.\u00a0 I am proud of our\u00a0 bankers, being able to report 5% annualized net loan growth for the quarter, with the headwinds of PPP forgiveness, and 14% annualized loan growth exclusive of the PPP reductions.\u00a0 We are in some of the best markets in the Southeast, and we continue to see real organic opportunities within these markets.\u00a0 We are pleased with the disciplined improvement in our efficiency ratio compared to last quarter, and we are excited to report 4.7% growth in tangible book value for the quarter.\u00a0 We continue to remain focused on delivering top-of-class results and are optimistic about the remainder of 2021, and we look forward to 2022.”<\/p>\n

Significant items from the Company’s results for the second quarter of 2021 include the following:<\/p>\n