Key Highlights

  • Net income was USD 116.1 million, or USD 1.73 per diluted share.
  • Return on average Assets was 1.61% and efficiency ratio 49.32%.
  • Net interest Margin was 3.87%, up 7 basis points year over year.
  • Tangible Book Value per share rose USD 0.55 to USD 45.65.

Earnings and Returns

Ameris Bancorp (NYSE:ABCB) reported third-quarter 2026 results on Thursday. Net Income was USD 116.1 million, or USD 1.73 per diluted share, against USD 106.0 million, or USD 1.54, a year earlier. Return on average assets was 1.61% and return on average tangible common Equity was 15.01%. The efficiency ratio was 49.32%.

Year-to-date net income was USD 278.0 million, or USD 4.13 per share, against USD 303.8 million, or USD 4.41. The nine-month comparison reflects an USD 80.8 million litigation expense accrual in the second quarter, which fell away in the third quarter.

Net Interest Income and Fees

Net interest income on a tax-equivalent basis was USD 258.6 million, up USD 5.2 million, or 2.0%, from the second quarter and up USD 19.7 million, or 8.2%, from a year earlier. Average earning assets rose USD 300.5 million, or 4.5% annualized. The net interest margin was 3.87%, down one basis point from the second quarter and up seven from a year earlier.

Earning asset Yield rose one basis point to 5.62%. Total cost of funds rose three basis points to 1.94%, and the cost of deposits rose five basis points to 1.82%. The cost of interest-bearing deposits was 2.58%.

Noninterest income fell USD 9.4 million, or 12.7%, to USD 64.2 million, driven by a USD 7.2 million drop in gains on securities. Mortgage banking income fell USD 3.3 million, or 10.1%, to USD 29.2 million.

Noninterest expense fell USD 84.0 million, or 34.6%, to USD 158.7 million from USD 242.7 million, on the litigation accrual decline. Adjusted noninterest expense fell USD 2.5 million, or 1.5%, on lower mortgage compensation and legal expenses. The effective tax rate was 22.9% against 22.1%.

Balance Sheet

Total assets were USD 28.55 billion, against USD 28.49 billion in June and USD 27.52 billion at year end 2025. Loans rose USD 173.1 million, or 3.1% annualized. Loans held for sale fell to USD 398.5 million from USD 623.2 million at year end. Available-for-sale securities were USD 2.48 billion.

Deposits were USD 22.91 billion, up USD 319.4 million, or 5.6% annualized. Interest-bearing deposits rose USD 407.2 million, with Money Market accounts up USD 399.7 million and brokered deposits up USD 129.5 million, while noninterest-bearing deposits fell USD 87.8 million. Noninterest-bearing deposits were 29.2% of the total.

Credit and Capital

Annualized net charge-offs declined to 0.19% of average loans. Average portfolio loans rose USD 260.0 million and the average balance of Investment securities rose USD 99.3 million, while average loans held for sale fell USD 80.7 million. The company described its Capital position, core funding base and Credit reserves as solid as macroeconomic conditions evolve. Tangible book value per share rose USD 0.55, or 4.8% annualized, to USD 45.65. Chief Executive Officer Palmer Proctor said the company remains measured in its approach to growth and is focused on disciplined Underwriting and capital allocation.

Metrics to Watch

Net income rose 9.5% from a year earlier while net interest income rose 8.2%. Deposit growth of 5.6% annualized outpaced Loan growth of 3.1%, and the mix shifted toward interest-bearing balances. Reference points include the margin at 3.87%, deposit costs at 1.82%, mortgage banking income at USD 29.2 million, and adjusted noninterest expense.