Ameris bancorp announces fourth quarter and full year 2023 financial results
Highlights of the company's results for the full year 2023 include the following: net income of $269.1 million, or $3.89 per diluted share adjusted net income(1) of $276.3 million, or $4.00 per diluted share growth in tangible book value(1) of $3.72 per share, or 12.4%, to $33.64 at december 31, 2023 increase in the allowance for credit losses to 1.52% of loans, from 1.04% at december 31, 2022, due to forecasted economic conditions, particularly related to commercial real estate price levels nonperforming portfolio assets, excluding government-guaranteed loans, as a percentage of total assets improved to 0.33% at december 31, 2023, compared with 0.34% at december 31, 2022 adjusted efficiency ratio(1) of 52.58% organic growth in loans of $414.1 million, or 2.1% growth in total deposits of $1.25 billion, or 6.4% growth in tce ratio(1) of 97bps, or 11.2%, to 9.64% at december 31, 2023 significant items from the company's results for the fourth quarter of 2023 include the following: net income of $65.9 million, or $0.96 per diluted share adjusted net income(1) of $73.6 million, or $1.07 per diluted share stable net interest margin of 3.54% adjusted efficiency ratio(1) of 52.87% growth in tce ratio(1) of 53bps to 9.64% at december 31, 2023, compared with 9.11% last quarter atlanta , jan. 25, 2024 /prnewswire/ -- ameris bancorp (nasdaq: abcb) (the "company") today reported net income of $65.9 million, or $0.96 per diluted share, for the quarter ended december 31, 2023, compared with $82.2 million, or $1.18 per diluted share, for the quarter ended december 31, 2022. the company reported adjusted net income(1) of $73.6 million, or $1.07 per diluted share, for the quarter ended december 31, 2023, compared with $81.1 million, or $1.17 per diluted share, for the same period in 2022.
