secwatch.observer — SEC 8-K summary
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Issuer:     Ameris Bancorp (ABCB)
CIK:        0000351569
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0000950170-23-015397
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ameris Bancorp Q1 net income $60.4M ($0.87 EPS); credit provision surges to $49.7M
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- Net income $60.4M ($0.87 diluted EPS) vs $81.7M ($1.17) in Q1 2022; provision for credit losses rose to $49.7M from $6.2M YoY.
- Net interest margin 3.76% (down from 4.03% in Q4 2022); total deposits grew $434.7M (8.9% annualized) to $19.90B.
- Tangible book value per share increased $0.87 to $30.79; TCE ratio 8.55% vs 8.67% at Dec 31, 2022.
- Redeemed $75M 5.75% fixed-to-floating subordinated notes due 2027 (rate 8.39% floating) with existing liquidity.
- Nonperforming assets stable at 0.61% of assets; net charge-off ratio 22 bps vs 8 bps in prior quarter.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/351569/000095017023015397/0000950170-23-015397-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/351569/000095017023015397/abcb-20230427.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-015397

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