Ameris Bancorp Q3 net income $80.1 million, down from $92.6 million a year earlier
Ameris Bancorp reported unaudited third-quarter 2023 net income of $80.1 million, or $1.16 per diluted share, up from $62.6 million ($0.91) in the second quarter but down from $92.6 million ($1.34) in the third quarter of 2022. The board also authorized up to $100.0 million in share repurchases through October 31, 2024, and the company will discuss results on a call on October 27, 2023.
- Net income of $80.1 million, or $1.16 per diluted share, versus $62.6 million ($0.91) in Q2 2023 and $92.6 million ($1.34) in Q3 2022
- Net interest margin fell to 3.54% from 3.97% a year earlier, which the company attributed mainly to rising deposit costs
- Board authorized repurchases of up to $100.0 million of common stock, effective through October 31, 2024
- Tangible book value per share was $32.38 at September 30, 2023, up from $28.62 a year earlier