ABCB
Ameris Bancorp
Ameris Bancorp
$ABCB Reports Strong Q1 2023 Financial Results with Improved PPNR ROA and Adjusted Efficiency Ratio
Atlanta-based bank holding company Ameris Bancorp has reported strong Q1 2023 financial results, showing pre-tax, pre-provision net revenue (PPNR) ROA of $2.87 per share and an improved adjusted efficiency ratio of 51%. The company's nonperforming assets as a percentage of total assets remained stable at 0%, and its credit quality remained strong. However, the company increased its allowance for credit losses to 1% of loans due to forecasted economic conditions, and its net interest margin decreased to 3.14%. Overall, Ameris Bancorp's diversified loan portfolio, strong core funding base, and focus on fundamentals suggest continued growth and performance.
5mo ago
$ABCB