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Ameris Bancorp: Q4 FY2025 earnings call

What management said about Q4 FY2025, from the documents filed with the SEC on 29 January 2026: press release. The quarter’s numbers.

Key takeaways

  • Quarterly net income rose year over year: The company reported quarterly net income of $108.4 million, or $1.59 per diluted share, against $94.4 million and $1.37 a year earlier. Net interest income drove the increase. Source
  • Net interest margin widened to 3.85%: Net interest margin on a tax-equivalent basis rose five basis points from 3.80% in the third quarter and 21 basis points from 3.64% a year earlier. Management attributed this to lower deposit costs and subordinated debt redemptions. Source
  • Noninterest expense fell 7.4%: Noninterest expense was $143.1 million, down $11.5 million from the third quarter. The efficiency ratio improved to 46.59% from 49.19%. Source
  • Loans grew $255.1 million in quarter: Loans, net of unearned income, reached $21.51 billion at year end. Unfunded commitments rose $282.6 million during the quarter. Source
  • Deposits rose led by money market: Deposits increased $147.9 million to $22.38 billion. Money market accounts rose $471.7 million, while noninterest bearing accounts fell $331.1 million. Source
  • Provision rose to $23.0 million: Provision for credit losses was $23.0 million, against $22.6 million in the third quarter. The allowance stayed at 1.62% of loans. Source
  • Net charge-offs rose to 26 basis points: The net charge-off ratio was 26 basis points in the fourth quarter, against 14 in the third. For the full year it was 18 basis points, down from 19. Source
  • Buybacks reached $40.8 million in quarter: The company repurchased 563,798 shares for $40.8 million in the quarter. It bought over $77 million of stock during 2025. Source

“We are proud of our fourth quarter performance and the strong finish to another successful year for Ameris.”

Palmer Proctor, Chief Executive Officer

What changed from last quarter

  • New: The fourth quarter included a $910,000 servicing right impairment, which the company did not record in the third quarter. Source
  • Ended: On October 1, 2025, after the third quarter, the company redeemed in full $110 million of 3.875% subordinated notes at par.

Results and growth drivers

  • Quarterly net income rose year over year: The company reported quarterly net income of $108.4 million, or $1.59 per diluted share, against $94.4 million and $1.37 a year earlier. Net interest income drove the increase. Source
  • Full-year earnings reached $412.2 million: Full-year 2025 net income was $412.2 million, or $6.00 per diluted share, against $358.7 million and $5.19 per diluted share in 2024. Source
  • Net interest income grew for the year: Net interest income rose $87.7 million, or 10.3%, for 2025, which the company attributed mainly to lower yields on interest-bearing deposits. Source

Margin and funding costs

  • Net interest margin widened to 3.85%: Net interest margin on a tax-equivalent basis rose five basis points from 3.80% in the third quarter and 21 basis points from 3.64% a year earlier. Management attributed this to lower deposit costs and subordinated debt redemptions. Source
  • Interest-bearing deposit costs fell: Costs of interest-bearing deposits fell to 2.66% from 2.82%. Balances rose in NOW, money market and brokered accounts, offset by lower costs across deposit categories. Source
  • Tax rate rose on a provision adjustment: The effective tax rate was 23.2% in the fourth quarter, against 22.6% in the third. The increase came mainly from a return to provision adjustment booked when the 2024 returns were filed. Source

“We remained disciplined and focused on core profitability and enhancing franchise value for our shareholders.”

Palmer Proctor, Chief Executive Officer

Noninterest income and mortgage

  • Noninterest income fell 18.9% in quarter: Noninterest income was $61.8 million, down $14.4 million from the third quarter. Mortgage banking activity and other noninterest income both declined. Source
  • Mortgage banking activity declined: Mortgage banking activity fell to $31.9 million from $40.7 million in the third quarter. Gain on sale spreads stayed at 2.20%. Source
  • Mortgage production rose in quarter: Retail mortgage production rose 11.0% to $1.22 billion, from $1.09 billion in the third quarter. Source

Segments and divisions

  • Banking division net interest income rose: Banking Division net interest income was $206.8 million in the fourth quarter, up from $198.1 million in the third quarter. Source
  • Retail mortgage division net interest income eased: Retail Mortgage Division net interest income was $19.3 million, against $20.2 million in the third quarter. Division net income was $13.8 million. Source
  • Premium finance division net interest income eased: Premium Finance Division net interest income was $11.8 million, against $12.3 million in the third quarter. Source

“Given our proven track record and robust capital levels, we are well positioned to capitalize on the growth opportunity across our Southeast footprint going forward.”

Palmer Proctor, Chief Executive Officer

Costs and efficiency

  • Noninterest expense fell 7.4%: Noninterest expense was $143.1 million, down $11.5 million from the third quarter. The efficiency ratio improved to 46.59% from 49.19%. Source
  • Salaries fell on incentives and healthcare: Salaries and benefits fell $9.0 million, mainly on lower incentive compensation, healthcare and 401(k) expenses. Advertising fell $1.4 million after a campaign ended early in the quarter. Source
  • Full-year expense fell 0.6%: Full-year noninterest expense was $604.0 million, down from $607.8 million in 2024, as lower loan servicing and occupancy costs more than offset higher technology spending. Source

Loans, deposits and balance sheet

  • Loans grew $255.1 million in quarter: Loans, net of unearned income, reached $21.51 billion at year end. Unfunded commitments rose $282.6 million during the quarter. Source
  • Deposits rose led by money market: Deposits increased $147.9 million to $22.38 billion. Money market accounts rose $471.7 million, while noninterest bearing accounts fell $331.1 million. Source
  • Noninterest bearing share of deposits fell: Noninterest bearing accounts were 28.7% of total deposits, down from 30.4% at September 30, 2025. Source
  • Total assets reached $27.52 billion: Total assets were $27.52 billion at December 31, 2025, up from $27.10 billion at September 30, 2025. Source

Credit quality and reserves

  • Provision rose to $23.0 million: Provision for credit losses was $23.0 million, against $22.6 million in the third quarter. The allowance stayed at 1.62% of loans. Source
  • Net charge-offs rose to 26 basis points: The net charge-off ratio was 26 basis points in the fourth quarter, against 14 in the third. For the full year it was 18 basis points, down from 19. Source
  • Nonperforming assets rose to 0.44%: Nonperforming assets were 0.44% of total assets, up four basis points. Excluding GNMA-guaranteed loans, the ratio was 0.35%. Source
  • GNMA loans make up a fifth of NPAs: About $24.3 million, or 20.2%, of nonperforming assets were GNMA-guaranteed mortgage loans. Management said these have minimal loss exposure. Source

Capital and shareholder returns

  • Buybacks reached $40.8 million in quarter: The company repurchased 563,798 shares for $40.8 million in the quarter. It bought over $77 million of stock during 2025. Source
  • Tangible book value rose to $44.18: Tangible book value per share rose $5.59, or 14.5%, in 2025 to $44.18 at year end. Shareholders' equity was $4.08 billion. Source
  • Tangible common equity ratio rose: The TCE ratio was 11.37% at December 31, 2025, compared with 10.59% a year earlier. Source

Strategy, technology and staffing

  • Technology spend rose $2.8 million: Data processing and communication expenses rose $2.8 million for the year, which management tied to continued technology investments. Source
  • Headcount edged down to 2,673: Total FTE headcount was 2,673 at December 31, 2025, against 2,700 at September 30, 2025 and 2,691 a year earlier. Source
  • Network of 163 financial centers: Ameris operates 163 financial centers across the Southeast and also serves customers nationwide through select lending channels. Source

Figures management reported

FigureReported
Net interest margin Source3.85%
Net interest income Source$246.3 million (TE)
Loans and loan growth Source$255.1 million increase (4.8% annualized)
Deposits Source$22.38 billion
Deposit costs Source1.87%
Provision for credit losses Source$23.0 million
Net charge-offs Source0.26% of average loans (annualized)
Nonperforming assets Source0.44% of total assets
Efficiency ratio Source46.59%

Risks management discussed

  • Financial: The net charge-off ratio rose to 26 basis points in the fourth quarter, from 14 basis points in the third quarter. Source
  • Financial: Nonperforming assets rose to 0.44% of total assets, and $24.3 million of them were GNMA-guaranteed mortgage loans. Source
  • Demand: The retail mortgage open pipeline fell to $701.9 million at year-end from $787.2 million at the end of the third quarter. Source

Earlier plans management reported on

  • Not stated: Management said it continues to focus on operating efficiency, and the adjusted efficiency ratio improved to 46.54%. Source
  • Not stated: Management said it used its share buyback authorization to purchase over $77 million of common stock in 2025. Source

Other quarters

Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.