ATLANTA (AP) — ATLANTA (AP) — Ameris Bancorp (ABCB) on Thursday reported first-quarter net income of $74.3 million.
The bank, based in Atlanta, said it had earnings of $1.08 per share. Earnings, adjusted for non-recurring costs, came to $1.10 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.
The bank posted revenue of $395.3 million in the period. Its revenue net of interest expense was $268.2 million, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $259.7 million.
Ameris Bancorp shares have dropped 10% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $47.51, a climb of 48% in the last 12 months.
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