Ameris Bancorp

Ameris reported net income of $51.4 million, or $0.77 per diluted share, in Q2. Adjusted net income was $107.3 million, or $1.60 per diluted share, excluding the $82.5 million litigation accrual and Visa B and BOLI gains. Adjusted ROA was 1.53%, adjusted PPNR ROA was 2.24%, and adjusted return on tangible common equity was 14.08%. Net interest margin was 3.88%, and tangible book value increased to $45.10. On the balance sheet, total assets were $28.5 billion, average earning assets grew $544.6 million or 8.5% annualized, and loans grew $349.9 million or about 6% annualized. Annualized net charge-offs were 20 bps, the reserve was 1.62%, CET1 was 12.8%, and TCE was 11%. Management guided to loan and deposit growth in the mid-single-digit range for the year, expects efficiency ratio to stay slightly above 50%, net charge-offs to remain in the 20 to 25 bp range for the remainder of 2026, and said margin could decline a few basis points per quarter over the next couple of quarters.

Palmer Proctor emphasized that Ameris’ core fundamentals remained strong, pointing to peer-leading profitability, profitable balance sheet growth, and a strong deposit franchise. He framed the quarter as evidence of positive operating leverage, with revenue up 6% year over year and expenses up only 3%, and said the bank is growing organically across its Southeastern footprint. He also highlighted the Nashville expansion as a selective, talent-driven step that should add to long-term growth.

Nicole Stokes focused on the quarter’s financial mechanics: adjusted EPS of $1.60, NIM of 3.88%, adjusted efficiency ratio of 50.4%, and the $82.5 million litigation accrual that drove reported earnings lower. She said the margin was held up by a temporary bump in bond yields, but expects slight compression as deposit costs rise to fund growth. She also cited $17.3 million of provision expense, 20 bps net charge-offs, $240 million of securities repricing in Q3, and share repurchases of 226,600 shares at an average price of $83.71, with $65.4 million of authorization remaining.

Analysts focused on the sustainability of the margin, loan yields, reserves/charge-offs, buybacks, brokered deposits, mortgage outlook, hiring, and the new Nashville entry. Management said bond yield benefits were largely temporary, tied to TIPS/inflation bonds and trades, while loan production pricing has been improving as lower-rate CRE payoffs roll off. On credit, Doug Strange said the reserve remains model-driven at 1.62% and reaffirmed 20 to 25 bps charge-offs for 2026; on capital, Nicole Stokes said buybacks remain possible but likely at a more normalized pace; and on Nashville, management said the move was driven by attractive talent and long-term growth potential.