Ameris bancorp announces financial results for first quarter 2024

Highlights of ameris's results for the first quarter of 2024 include the following: net income of $74.3 million, or $1.08 per diluted share; adjusted net income(1) of $75.6 million, or $1.10 per diluted share return on average assets ("roa") of 1.18%; adjusted roa(1) of 1.20% pre-tax, pre-provision net revenue (ppnr) roa(1) of 1.89% growth in tangible book value(1) of $0.88 per share, or 10.5% annualized, to $34.52 at march 31, 2024 tce ratio(1) of 9.71%, compared with 9.64% at december 31, 2023 and 8.55% one year ago net interest margin of 3.51% for the first quarter of 2024 organic growth in loans of $331.0 million, or 6.5% annualized growth in total deposits of $288.9 million, or 5.6% annualized increase in the allowance for credit losses to 1.55% of loans, from 1.52% at december 31, 2023 adjusted efficiency ratio(1) of 54.56% atlanta , april 25, 2024 /prnewswire/ -- ameris bancorp (nasdaq: abcb) (the "company") today reported net income of $74.3 million, or $1.08 per diluted share, for the quarter ended march 31, 2024, compared with $60.4 million, or $0.87 per diluted share, for the quarter ended march 31, 2023.  excluding the fdic special assessment and gain on bank owned life insurance ("boli") proceeds, adjusted net income(1) was $75.6 million, or $1.10 per diluted share, for the quarter ended march 31, 2024, compared with $59.9 million, or $0.86 per diluted share, for the quarter ended march 31, 2023.
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