Ameris Bancorp: Q2 FY2026 earnings call

What management said about Q2 FY2026, from the documents filed with the SEC on 23 July 2026: press release. The quarter’s numbers.

Read the filing

Key takeaways

• GAAP earnings below year-earlier level: GAAP net income was $51.4 million, or $0.77 per diluted share, against $109.8 million, or $1.60 per diluted share, in the second quarter of 2025. Source
• Margin unchanged at 3.88%: Net interest margin was 3.88%, unchanged from the first quarter and 11 basis points above the second quarter of 2025. Earning asset yield rose four basis points to 5.61%. Source
• Litigation accrual drove expense increase: Noninterest expense rose $85.6 million, or 54.5%, to $242.7 million, driven by an $82.5 million accrual tied to a California employment jury verdict. Source
• Noninterest-bearing share reached 30%: Noninterest-bearing deposits were $6.78 billion, or 30.0% of total deposits, up from 28.7% at December 31, 2025. Source
• Provision rose slightly: Provision for credit losses was $17.3 million, against $16.6 million in the first quarter. Source
• Loans grew 6.4% annualized: Loans rose $349.9 million, or 6.4% annualized, to $22.18 billion. Premium finance, mortgage warehouse and construction balances rose, while commercial real estate declined. Source
• Buybacks slowed in second quarter: The company repurchased 226,600 shares for $19.0 million in the quarter, against 950,400 shares in the first quarter. Source

“Ameris delivered another quarter of strong underlying operating performance, underscoring the resilience of our franchise and the earning power of our business and reflecting the consistency of our long-term strategy and disciplined execution across the organization.”

Palmer Proctor, Chief Executive Officer

What changed from last quarter

• New: Management announced expansion into the Nashville market during the quarter. Source

Earnings and profitability

• GAAP earnings below year-earlier level: GAAP net income was $51.4 million, or $0.77 per diluted share, against $109.8 million, or $1.60 per diluted share, in the second quarter of 2025. Source
• Adjusted earnings exclude two items: Adjusted net income was $107.3 million, or $1.60 per diluted share, excluding a litigation accrual and a gain on the sale of securities. Source
• Year-to-date earnings lower than 2025: Year-to-date net income was $161.9 million, or $2.40 per diluted share, against $197.8 million, or $2.87, a year earlier. Adjusted year-to-date diluted EPS was $3.23. Source
• Reported and adjusted return measures: Return on average assets was 0.73%, and adjusted return on average assets was 1.53%. Return on average tangible common equity was 6.75%, adjusted 14.08%. Source

Net interest income and margin

• Net interest income up 8.9% year over year: Net interest income on a tax-equivalent basis was $253.4 million, up $8.1 million or 3.3% from the first quarter and $20.7 million or 8.9% from a year earlier. Source
• Margin unchanged at 3.88%: Net interest margin was 3.88%, unchanged from the first quarter and 11 basis points above the second quarter of 2025. Earning asset yield rose four basis points to 5.61%. Source
• Average earning assets grew 8.5% annualized: Average earning assets rose $544.6 million, or 8.5% annualized, reflecting $356.9 million more average portfolio loans and $170.9 million more investment securities. Source

“We generated a return on assets of 1.53% on an adjusted basis, maintained a stable net interest margin of 3.88% and delivered annualized earning asset growth of 8.5%.”

Palmer Proctor, Chief Executive Officer

Noninterest income and mortgage

• Securities gain lifted noninterest income: Noninterest income was $73.5 million, up $3.6 million or 5.2%, driven mainly by a $7.4 million securities gain on Visa Class B-2 shares. Source
• Mortgage banking activity declined: Mortgage banking activity fell 12.1% to $32.5 million, while retail mortgage production rose 6.0% to $1.15 billion. Gain on sale spread was 2.04%, against 2.08%. Source

Operating costs and efficiency

• Litigation accrual drove expense increase: Noninterest expense rose $85.6 million, or 54.5%, to $242.7 million, driven by an $82.5 million accrual tied to a California employment jury verdict. Source
• Adjusted expense rose on legal costs: Adjusted noninterest expense was $160.2 million, up $3.1 million or 2.0% from the first quarter, mainly on legal costs and charitable donations. Source
• Efficiency ratio reported and adjusted: Efficiency ratio was 74.45%, and adjusted efficiency ratio was 50.42%, compared with 49.97% in the first quarter. Source
• Tax rate rose on lower share-based benefit: Effective tax rate was 22.1%, against 21.5% in the first quarter, as the excess benefit from share-based awards declined. Source
• Headcount edged up; branches flat: Full-time equivalent headcount was 2,650 at June 30, against 2,642 at March 31, with 163 branch locations. Source

“During the quarter, we were pleased to announce our expansion into the Nashville market, another important step in extending our high-performing Southeast franchise and creating additional opportunities for profitable growth.”

Palmer Proctor, Chief Executive Officer

Deposits and funding costs

• Deposit costs rose one basis point: Deposit costs were 1.77%, up one basis point; interest-bearing deposit costs were 2.52%, up two basis points. Total cost of funds was 1.91%. Source
• Noninterest-bearing share reached 30%: Noninterest-bearing deposits were $6.78 billion, or 30.0% of total deposits, up from 28.7% at December 31, 2025. Source
• Period-end deposits fell on public funds: Period-end deposits fell $49.2 million from March 31. Non-brokered, non-public fund deposits fell $112.2 million and brokered CDs rose $174.0 million. Source

Credit quality

• Provision rose slightly: Provision for credit losses was $17.3 million, against $16.6 million in the first quarter. Source
• Net charge-off ratio eased slightly: Net charge-offs were 20 basis points of average loans on an annualized basis, against 21 basis points in the first quarter. Source
• Allowance held at 1.62% of loans: Allowance for credit losses on loans was 1.62% of loans, unchanged from year-end 2025. Source
• Nonperforming assets rose to 0.47%: Nonperforming assets were 0.47% of total assets, up two basis points; excluding government-guaranteed GNMA loans they were 0.35%. Source

Loans and demand

• Loans grew 6.4% annualized: Loans rose $349.9 million, or 6.4% annualized, to $22.18 billion. Premium finance, mortgage warehouse and construction balances rose, while commercial real estate declined. Source
• Retail mortgage pipeline eased: Retail mortgage open pipeline was $609.3 million at quarter end, against $632.7 million at March 31. Source
• Loans held for sale declined: Loans held for sale fell to $482.2 million at June 30, from $623.2 million at December 31, 2025. Source

Capital and shareholder returns

• Tangible book value rose to $45.10: Tangible book value per share rose $0.31 in the quarter to $45.10 at June 30, 2026. Source
• Tangible common equity ratio eased: Tangible common equity was 11.04% of tangible assets at June 30, 2026, against 11.37% at December 31, 2025. Source
• Buybacks slowed in second quarter: The company repurchased 226,600 shares for $19.0 million in the quarter, against 950,400 shares in the first quarter. Source
• Equity rose modestly on earnings: Shareholders' equity was $4.09 billion, up $14.5 million from December 31, after earnings were largely offset by repurchases and dividends. Source
• Quarterly dividend held at $0.20: Cash dividends were $0.20 per share in each of the five quarters shown in the financial highlights table. Source

Figures management reported

Risks management discussed

• Operational: A California employment jury verdict produced an $82.5 million litigation accrual this quarter. Source
• Financial: Changes in interest rates reduced accumulated other comprehensive income on the investment portfolio, lowering equity. Source
• Demand: Public funds and non-brokered deposits fell while brokered CDs rose, changing the deposit funding mix. Source

Earlier plans management reported on

• Not stated: The CEO says the company continues to build long-term shareholder value; no dated target is given. Source
• Not stated: Management says it continues to focus on operating efficiency; no numeric target is given. Source

Other quarters

• Q1 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.