Ameris Bancorp: Q1 FY2026 earnings call

What management said about Q1 FY2026, from the documents filed with the SEC on 23 April 2026: press release. The quarter’s numbers.

Read the filing

Key takeaways

• Net income and diluted EPS rose: Net income was $110.5 million, or $1.63 per diluted share, compared with $87.9 million, or $1.27 per diluted share, in the first quarter of 2025. Return on average assets was 1.62%. Source
• Net interest margin widened to 3.88%: Net interest margin rose three basis points from 3.85% in the fourth quarter of 2025 and 15 basis points from 3.73% in the first quarter of 2025. Source
• Noninterest expense rose $14.0 million: Noninterest expense was $157.1 million, up $14.0 million, or 9.8%, from the fourth quarter of 2025, driven by payroll tax, incentives and marketing. Source
• Deposit costs fell 11 basis points: Deposit costs decreased to 1.76%, and costs of interest-bearing deposits were 2.50%, down 16 basis points from the fourth quarter of 2025. Source
• Loans grew 5.9% annualized: Loans, net of unearned income, rose $314.5 million to $21.83 billion at March 31, 2026, from $21.51 billion at December 31, 2025. Source
• Provision eased to $16.6 million: The provision for credit losses was $16.6 million, compared with $23.0 million in the fourth quarter of 2025. Net charge-offs were $11.4 million in the quarter. Source
• Net charge-offs fell to 0.21%: The net charge-off ratio was 21 basis points, down from 26 basis points in the fourth quarter of 2025. Source
• Share buybacks increased to $74.9 million: The company repurchased 950,400 shares for $74.9 million in the quarter, compared with 563,798 shares repurchased in the fourth quarter of 2025. Source

“First quarter was a strong start to the year with our performance metrics continuing to outpace the broader industry.”

Palmer Proctor, the Company’s Chief Executive Officer

Results and growth drivers

• Net income and diluted EPS rose: Net income was $110.5 million, or $1.63 per diluted share, compared with $87.9 million, or $1.27 per diluted share, in the first quarter of 2025. Return on average assets was 1.62%. Source
• Net interest income up year on year: Tax-equivalent net interest income was $245.4 million, down $903,000 from the fourth quarter of 2025 and up $22.6 million, or 10.2%, from the first quarter of 2025. Source
• Net interest margin widened to 3.88%: Net interest margin rose three basis points from 3.85% in the fourth quarter of 2025 and 15 basis points from 3.73% in the first quarter of 2025. Source
• Revenue growth stated annualized: Total revenue was $314.4 million on the reported basis. The company stated revenue growth of 9.5% annualized in the quarter. Source
• Efficiency ratio near 50%: The efficiency ratio was 49.97%, compared with 52.83% in the first quarter of 2025 and 46.59% in the fourth quarter of 2025. Source

Segments and regions

• Banking Division net income rose: Banking Division net income was $88.5 million, compared with $83.2 million in the fourth quarter of 2025 and $65.8 million in the first quarter of 2025. Source
• Retail mortgage net income declined: Retail Mortgage Division net income was $10.9 million, down from $13.8 million in the fourth quarter of 2025. Source
• Warehouse Lending net income edged up: Warehouse Lending Division net income was $5.9 million, compared with $5.7 million in the fourth quarter of 2025. Source

“We were more active in our share repurchase program, buying back almost $75 million of our common stock in the quarter or approximately 1.4% of our outstanding equity”

Palmer Proctor, the Company’s Chief Executive Officer

Products and customers

• Mortgage banking activity increased: Mortgage banking activity rose $5.1 million, or 16.1%, to $37.0 million, compared with $31.9 million in the fourth quarter of 2025. Source
• Retail mortgage production fell seasonally: Retail mortgage production decreased $128.4 million, or 10.6%, to $1.09 billion. The open pipeline ended the quarter at $632.7 million. Source
• Gain on sale spreads narrowed: Gain on sale spreads were 2.08% in the first quarter, down from 2.20% in the fourth quarter of 2025. Source
• Noninterest income rose: Noninterest income was $69.9 million, up $8.1 million, or 13.1%, from the fourth quarter of 2025, led by mortgage banking activity and other noninterest income. Source

Operating costs and headcount

• Noninterest expense rose $14.0 million: Noninterest expense was $157.1 million, up $14.0 million, or 9.8%, from the fourth quarter of 2025, driven by payroll tax, incentives and marketing. Source
• Seasonal payroll and incentive costs: Payroll tax and 401(k) costs rose $4.9 million, incentives rose $4.3 million, advertising rose $1.3 million, FDIC assessment rose $1.1 million and donations rose $1.0 million. Source
• Effective tax rate lower: The effective tax rate was 21.5%, compared with 23.2% in the fourth quarter of 2025, mainly from excess benefits on share-based compensation that vested in the quarter. Source
• Full-time headcount declined: Full-time equivalent headcount was 2,642 at March 31, 2026, compared with 2,673 at December 31, 2025 and 2,710 a year earlier. Source

“Overall, another solid quarter from Ameris with our focus remaining on profitably growing our franchise across our attractive Southeast markets”

Palmer Proctor, the Company’s Chief Executive Officer

Margin, yields and funding costs

• Deposit costs fell 11 basis points: Deposit costs decreased to 1.76%, and costs of interest-bearing deposits were 2.50%, down 16 basis points from the fourth quarter of 2025. Source
• Earning asset yields eased: Yields on earning assets fell four basis points to 5.57%, mainly because yields on portfolio loans decreased two basis points. Source
• Total cost of funds down seven basis points: Total cost of funds decreased seven basis points to 1.88%, compared with 1.95% in the fourth quarter of 2025 and 18 basis points lower than the first quarter of 2025. Source

Loan and deposit growth

• Loans grew 5.9% annualized: Loans, net of unearned income, rose $314.5 million to $21.83 billion at March 31, 2026, from $21.51 billion at December 31, 2025. Source
• Unfunded commitments increased: Unfunded commitments rose $298.7 million, which the release attributes to strong production in construction and warehouse lending during the quarter. Source
• Deposits grew 4.7% annualized: Total deposits rose $260.7 million to $22.64 billion at March 31, 2026, with noninterest-bearing accounts up $322.8 million. Source
• Noninterest-bearing share of deposits rose: Noninterest-bearing deposits were $6.75 billion, or 29.8% of total deposits, up from 28.7% at December 31, 2025. Source
• Money market balances declined: Money market accounts fell $330.5 million and retail CDs fell $52.7 million, while brokered CDs rose $143.9 million in the quarter. Source

Credit quality

• Provision eased to $16.6 million: The provision for credit losses was $16.6 million, compared with $23.0 million in the fourth quarter of 2025. Net charge-offs were $11.4 million in the quarter. Source
• Net charge-offs fell to 0.21%: The net charge-off ratio was 21 basis points, down from 26 basis points in the fourth quarter of 2025. Source
• Allowance held at 1.62%: The allowance for credit losses on loans was 1.62% of loans, unchanged from the end of 2025. Source
• Nonperforming assets rose one basis point: Nonperforming assets were 0.45% of total assets. Of nonperforming assets, $34.5 million, or 27.0%, were GNMA-guaranteed loans with minimal loss exposure. Source

Capital and shareholder returns

• Share buybacks increased to $74.9 million: The company repurchased 950,400 shares for $74.9 million in the quarter, compared with 563,798 shares repurchased in the fourth quarter of 2025. Source
• Tangible book value rose to $44.79: Tangible book value per share grew $0.61, or 5.6% annualized, to $44.79 at March 31, 2026. Source
• Tangible common equity ratio eased: Tangible common equity was 11.15% of tangible assets at March 31, 2026, down from 11.37% at the end of 2025. Source
• Quarterly dividend held at $0.20: Cash dividends were $0.20 per share in each quarter shown in the financial highlights table. Source

Management view and footprint

• Management describes focus on franchise growth: Palmer Proctor said the company remains focused on profitably growing its franchise across its Southeast markets, with metrics continuing to outpace the broader industry. Source
• Expense focus cited for efficiency: Management attributed an efficiency ratio just under 50% to continued expense focus across the company, despite seasonal headwinds. Source
• Branch count unchanged: The company reported 163 branch locations, unchanged from the prior quarter, with deposits per branch location of $138,876. Source

Figures management reported

Risks management discussed

• Demand: Retail mortgage production and the open pipeline both declined from the fourth quarter, with gain on sale spreads also lower. Source
• Regulatory: FDIC assessment expense rose $1.1 million in the quarter as one of the drivers of the higher noninterest expense. Source
• Financial: Changes in interest rates reduced accumulated other comprehensive income by $9.8 million on the investment portfolio. Source
• Financial: Nonperforming assets excluding government-guaranteed loans were 0.33% of total assets, down two basis points from the fourth quarter. Source

Other quarters

• Q2 FY2026 earnings call
• Q4 FY2025 earnings call
• Q3 FY2025 earnings call
• Q2 FY2025 results

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.