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1. Company Snapshot

1.a. Company Description

Ameris Bancorp operates as the bank holding company for Ameris Bank that provides range of banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, North Carolina, and South Carolina.The company operates through five segments: Banking Division, Retail Mortgage Division, Warehouse Lending Division, SBA Division, and Premium Finance Division.It offers commercial and retail checking, regular interest-bearing savings, money market, individual retirement, and certificates of deposit accounts.


The company also provides commercial real estate, residential real estate mortgage, agricultural, and commercial and industrial loans; consumer loans, including motor vehicle, home improvement, and home equity loans, as well as loans secured by savings accounts and small unsecured personal credit lines.In addition, it originates, administers, and services commercial insurance premium loans and small business administration loans.The company operates 165 full service domestic banking offices and 35 mortgage and loan production offices.


Ameris Bancorp was founded in 1971 and is headquartered in Atlanta, Georgia.

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1.b. Last Insights on ABCB

Ameris Bancorp's recent performance was driven by strong Q2 earnings, with net income of $109.8 million, or $1.60 per diluted share, representing a 36% year-over-year EPS increase. The company's quarterly earnings of $1.59 per share beat the Zacks Consensus Estimate of $1.35 per share. A quarterly dividend of $0.20 per share was also declared. Furthermore, Ameris Bank's expansion efforts, including the opening of a new branch in downtown Jacksonville and the extension of its down payment assistance program, have likely contributed to its positive momentum.

1.c. Company Highlights

2. Ameris Bancorp's Q3 Earnings Beat Expectations with Strong Financial Performance

Ameris Bancorp reported a strong third quarter, with a return on assets of 1.56% and a return on tangible common equity of 14.6%. Net income was $106 million, or $1.53 per diluted share, beating expectations of $1.47. The company's tangible book value per share grew 15.2% annualized to $42.90. The net interest margin expanded to 3.80%, driven by a 2 basis point positive impact on the asset side and a 1 basis point benefit from the funding side. Noninterest income increased $7.4 million, mostly from better equipment finance fees and a $1.6 million nonrecurring gain on securities.

Publication Date: Nov -03

📋 Highlights
  • Strong Earnings Beat:: Net income of $106 million ($1.54/share) with ROA of 1.56% and ROE of 14.6%.
  • Tangible Book Value Growth:: Increased 15.2% annualized to $42.90/share.
  • Margin Expansion & Efficiency:: Net interest margin widened to 3.80% (2 bps asset, 1 bps funding boost); efficiency ratio improved to 49.19%.
  • Share Repurchase Momentum:: $8.5 million stock buyback in Q3, with a new $200 million repurchase plan.

Loan and Deposit Growth

Loan growth was 4% annualized, driven by commercial and industrial and commercial real estate. Deposits grew 5% annualized, with noninterest-bearing deposits remaining over 30%. The company's capital ratios grew, with a common equity Tier 1 ratio of 13.2% and a tangible common equity ratio of 11.3%. Asset quality remained stable, with net charge-offs and nonperforming assets at low levels.

Outlook and Guidance

The company expects loan and deposit growth to continue in the mid-single-digit range. Expenses are expected to grow around 5.5% in 2026, with an efficiency ratio likely to return above 50% in the fourth quarter. The margin is expected to compress slightly due to pressure on deposit costs. The company's equipment finance business saw strong fee income growth, and the pipeline for loans remains strong.

Valuation and Dividend Yield

With a Price-to-Tangible Book Value (P/TBV) ratio of approximately 1.23, close to its peers, and a Dividend Yield of 1.12%, the stock appears reasonably valued. Analysts estimate next year's revenue growth at 8.6%, indicating potential for further upside. The company's focus on producing top-of-class metrics and growing its tangible book value per share positions it well for future growth opportunities.

3. NewsRoom

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Is Ameris Bancorp (ABCB) Stock Outpacing Its Finance Peers This Year?

Nov -17

Source: zacks.com

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Envestnet Asset Management Inc. Sells 13,044 Shares of Ameris Bancorp $ABCB

Nov -16

Source: defenseworld.net

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Teacher Retirement System of Texas Trims Stake in Ameris Bancorp $ABCB

Nov -04

Source: defenseworld.net

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Focus Partners Advisor Solutions LLC Acquires Shares of 3,671 Ameris Bancorp $ABCB

Nov -02

Source: defenseworld.net

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Ethic Inc. Reduces Holdings in Ameris Bancorp $ABCB

Nov -01

Source: defenseworld.net

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Is Ameris Bancorp (ABCB) Outperforming Other Finance Stocks This Year?

Oct -30

Source: zacks.com

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Ameris Bancorp (ABCB) Q3 2025 Earnings Call Transcript

Oct -28

Source: seekingalpha.com

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Ameris Bancorp (ABCB) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

Oct -28

Source: zacks.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (8.93%)

6. Segments

Banking

Expected Growth: 8%

Ameris Bancorp's 8% growth is driven by strategic acquisitions, expanding commercial lending, and a strong mortgage banking segment. Additionally, the bank's focus on digital transformation, cost savings initiatives, and a favorable interest rate environment have contributed to its growth momentum.

Retail Mortgage

Expected Growth: 12%

Ameris Bancorp's 12% retail mortgage growth is driven by strategic expansion into high-growth markets, increased digital lending capabilities, and a strong brand reputation. Additionally, low interest rates and government-backed loan programs have increased demand, while the bank's efficient operations and cost management have enabled it to maintain profitability.

Premium Finance

Expected Growth: 9%

Ameris Bancorp's Premium Finance segment growth is driven by increasing demand for insurance premium financing, expansion into new markets, strategic partnerships, and investments in digital platforms. Additionally, the company's focus on customer service, competitive pricing, and efficient underwriting processes contribute to its 9% growth rate.

Warehouse Lending

Expected Growth: 11%

Ameris Bancorp's 11% growth in Warehouse Lending is driven by increasing demand for mortgage originations, expansion into new markets, and strategic partnerships. Additionally, the company's investment in digital platforms and process efficiencies has improved customer experience, leading to increased market share and revenue growth.

Small Business Administration

Expected Growth: 7%

Ameris Bancorp's Small Business Administration segment growth of 7% is driven by increased lending to small businesses, government-backed loan guarantees, and a strong economy. Additionally, the segment benefits from the bank's expanded footprint, digital platform enhancements, and strategic partnerships, enabling it to reach more customers and provide tailored financial solutions.

7. Detailed Products

Consumer Banking

Ameris Bancorp offers a range of consumer banking products and services, including checking and savings accounts, credit cards, personal loans, and mortgages.

Commercial Banking

Ameris Bancorp provides commercial banking services, including cash management, commercial lending, and treasury management, to businesses of all sizes.

Mortgage Banking

Ameris Bancorp offers a range of mortgage banking services, including residential and commercial mortgage lending, to individuals and businesses.

SBA Lending

Ameris Bancorp provides Small Business Administration (SBA) loans to small businesses and entrepreneurs, offering flexible financing options and competitive rates.

Wealth Management

Ameris Bancorp offers wealth management services, including investment management, trust services, and financial planning, to individuals and families.

Treasury Management

Ameris Bancorp provides treasury management services, including cash management, wire transfers, and account reconciliation, to businesses and organizations.

8. Ameris Bancorp's Porter Forces

Forces Ranking

Threat Of Substitutes

Ameris Bancorp operates in a highly competitive industry, and customers have various alternatives for banking services. However, the company's strong brand recognition and extensive branch network help to mitigate the threat of substitutes.

Bargaining Power Of Customers

Ameris Bancorp's customers are primarily individuals and small businesses, which have limited bargaining power. The company's large customer base and diversified product offerings also reduce the bargaining power of individual customers.

Bargaining Power Of Suppliers

Ameris Bancorp's suppliers are primarily technology and service providers, which have limited bargaining power. The company's scale and financial resources also give it negotiating power over its suppliers.

Threat Of New Entrants

The banking industry has high barriers to entry, including regulatory hurdles and capital requirements. Additionally, Ameris Bancorp's established brand and extensive branch network make it difficult for new entrants to compete effectively.

Intensity Of Rivalry

The banking industry is highly competitive, with many established players competing for market share. Ameris Bancorp faces intense competition from larger banks and fintech companies, which can impact its market share and profitability.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 15.97%
Debt Cost 9.19%
Equity Weight 84.03%
Equity Cost 9.19%
WACC 9.19%
Leverage 19.00%

11. Quality Control: Ameris Bancorp passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Webster

A-Score: 6.8/10

Value: 7.0

Growth: 6.4

Quality: 7.1

Yield: 6.0

Momentum: 8.0

Volatility: 6.0

1-Year Total Return ->

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Stock-Card
Hancock Whitney

A-Score: 6.7/10

Value: 6.6

Growth: 5.9

Quality: 7.8

Yield: 6.0

Momentum: 7.0

Volatility: 6.7

1-Year Total Return ->

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Stock-Card
SouthState

A-Score: 5.9/10

Value: 5.7

Growth: 5.4

Quality: 7.4

Yield: 5.0

Momentum: 4.5

Volatility: 7.7

1-Year Total Return ->

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Stock-Card
Ameris

A-Score: 5.7/10

Value: 5.2

Growth: 7.8

Quality: 5.0

Yield: 2.0

Momentum: 7.0

Volatility: 7.3

1-Year Total Return ->

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Stock-Card
Atlantic Union Bankshares

A-Score: 5.7/10

Value: 6.5

Growth: 5.2

Quality: 5.6

Yield: 7.0

Momentum: 3.5

Volatility: 6.3

1-Year Total Return ->

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Stock-Card
UMB

A-Score: 5.7/10

Value: 5.7

Growth: 5.8

Quality: 5.2

Yield: 4.0

Momentum: 6.5

Volatility: 6.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

76.55$

Current Price

76.55$

Potential

-0.00%

Expected Cash-Flows