Ameris Bancorp reported first‑quarter 2026 results that surpassed analyst expectations, delivering net income of $110.5 million and diluted earnings per share of $1.63—up from $87.9 million and $1.27 in the same quarter a year earlier. The company’s total revenue reached $315.3 million, driven by net‑interest income of $315.3 million and modest non‑interest income, beating the consensus estimate of $309.3 million.
The earnings beat was largely a result of disciplined cost control and a favorable net‑interest margin. Ameris’s net‑interest margin expanded to 3.88% from 3.73% in Q1 2025, driven by lower funding costs that more than offset modest pressure on asset yields. At the same time, the efficiency ratio improved to just under 50% from 52.83% a year earlier, reflecting revenue growth that outpaced expense increases.
Deposit growth was a key tailwind, with core deposits rising $261 million—4.7% annualized—while the non‑interest‑bearing to total deposit ratio climbed to 29.8% from 28.7% at year‑end. This stronger deposit base supports the bank’s ability to maintain a high net‑interest margin and fund loan growth.
Loan growth also accelerated, with new loans adding $314.5 million, a 5.9% annualized increase. The combination of higher loan volumes and a robust deposit mix underpins the company’s mid‑single‑digit growth outlook for the remainder of the year.
Management highlighted the results in the earnings call. CEO Palmer Proctor said, "First quarter was a strong start to the year with our performance metrics continuing to outpace the broader industry. Our ROA expanded to 1.62%, our return on average tangible common equity grew to 14.75% and our margin expanded 3 basis points to 3.88% for the first quarter." CFO Nicole Stokes added, "We reported net income of $110.5 million, or $1.63 per diluted share in the first quarter. Our return on assets was 1.62%, our PPNR ROA was 2.3%, and our return on tangible common equity was 14.75% for the quarter."
The market reacted positively to the results, with analysts noting the margin expansion, cost discipline, and strong deposit growth as key drivers of the earnings beat. The company’s share buyback program, which repurchased $75 million of common stock in the quarter, further underscored management’s confidence in the business.
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