$ABCB (Ameris Bancorp)

$ABCB {{ '2016-09-09T12:34:34+0000' | timeago}} • Announcement

$ABCB announced that its BoD approved a quarterly cash dividend of $0.10 per common share, up from the prior dividend of $0.05 per common share paid in recent quarters. The dividend is payable Oct. 11, 2016, to shareholders of record as of the close of business on Sept. 30, 2016.

$ABCB {{ '2017-04-21T15:50:53+0000' | timeago}} • Webcast

In terms of M&A strategy, $ABCB said it is focused on both bank as well as non-bank for additional M&A. The company added that it is having significant conversations with conventional banks and that provides opportunity for future M&As.

$ABCB {{ '2017-04-21T11:33:20+0000' | timeago}} • Announcement

$ABCB posted operating net income of $21.6MM or $0.60 per share for 1Q17, up from $16.4MM or $0.50 per share in 1Q16. This excludes certain after-tax costs associated with acquisitions and sales of premises. Operating returns on average assets rose to 1.27% from 1.17% and average tangible common equity grew to 15.84% from 15.37%.

$ABCB {{ '2017-04-21T11:30:41+0000' | timeago}} • Announcement

$ABCB reported a rise in 1Q17 earnings driven by higher revenue and control of operating expenses. Net income rose to $21.15MM or $0.59 per share from $12.32MM or $0.37 per share last year. Net interest income grew to $60.6MM from $50.4MM and non-interest income increased to $25.7MM from $24.3MM.

$ABCB {{ '2017-03-08T13:25:35+0000' | timeago}} • Announcement

$ABCB priced $75MM of its 5.75% fixed-to-floating rate subordinated notes due 2027. The notes have an initial fixed interest rate of 5.75% until March 15, 2022, payable semi-annually in arrears, and a 10-year term and were offered to the public at par. The Company expects to close the transaction on or about March 13, 2017.

$ABCB {{ '2017-03-07T14:07:36+0000' | timeago}} • Announcement

Net proceeds to $ABCB from its underwritten public offering of 2,012,500 shares were about $88.90MM, without the underwriting discounts and commissions. Stephens Inc. and Keefe, Bruyette & Woods, a subsidiary of $SF, acted as the joint book-running managers for the offering.

$ABCB {{ '2017-03-07T14:06:42+0000' | timeago}} • Announcement

$ABCB, the parent firm of Ameris Bank, closed its underwritten public offering of 2,012,500 shares at a price of $46.50 per share for gross proceeds of approx $93.58MM. This includes 262,500 shares pursuant to the exercise of the underwriters' purchase option.

$ABCB {{ '2017-03-06T16:26:11+0000' | timeago}} • Announcement

$ABCB commenced an underwritten public offering of about $75MM in aggregate principal amount of its fixed-to-floating rate subordinated notes due 2027. The company expects to use the net proceeds to repay existing debt under its revolving credit agreement, for general corporate purposes, and investments in Ameris Bank as regulatory capital.

$ABCB {{ '2017-03-01T18:11:46+0000' | timeago}} • Announcement

$ABCB expects to use the net proceeds of $75MM public offering for general corporate purposes, including providing capital to support its growth organically, financing investments and capex and repaying debt. Stephens Inc. and Keefe, Bruyette & Woods, A Stifel Company, will serve as the joint book-running managers for the offering.

$ABCB {{ '2017-03-01T18:08:29+0000' | timeago}} • Announcement

$ABCB, the parent holding company of Ameris Bank, has commenced an underwritten public offering of approx $75MM of the company's common stock.  $ABCB expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock sold in the offering.

$ABCB {{ '2017-03-01T18:00:47+0000' | timeago}} • Announcement

$ABCB priced an underwritten public offering of 1.75MM common shares at $46.50 per share for gross proceeds of about $81.4MM. The net proceeds to the company after deducting underwriting discounts and commissions are expected to be about $77.3MM. $ABCB granted underwriters a 30-day option to buy up to an additional 262,500 common shares.

$ABCB {{ '2017-01-20T16:47:39+0000' | timeago}} • Webcast

$ABCB said for 4Q16, the company had $353MM of production in mortgage. This was up from $254MM in 4Q15 but down from $410MM in 3Q16. About 80% of the business was purchase business. The gain-on-sale margins came in at about $340BP in 4Q16, which was down from $370BP in 3Q16.

$ABCB {{ '2017-01-20T16:34:26+0000' | timeago}} • Webcast

For 4Q16, retail mortgage contributed about 12% of $ABCB’s operating net income which is down 1% from 4Q15. Moving into 2017, the company expects higher revenues and profitability on the commercial and mortgage side and $ABCB also expects incentive accruals and mortgage commissions to bounce back in a way that is accretive to profits.

$ABCB {{ '2017-01-20T16:20:18+0000' | timeago}} • Webcast

During 2016, $ABCB saw a 23% growth in total assets totaling about $1.3Bil. Total loans grew 34%. Of the growth in loans, about $660MM was from organic sources which gives the company an YTD growth rate just north of 20%. The growth rate slowed in 4Q16 to about 10% annualized.

$ABCB {{ '2017-01-20T12:54:48+0000' | timeago}} • Announcement

Financial holding company $ABCB reported 27% growth in its 4Q16 earnings. Net income during the quarter was $18.2MM, or $0.52 per diluted share compared to $14.1MM or $0.43 per diluted share during 4Q15. Net interest income during the quarter rose to $57.3MM and the total non-interest income was $24.3MM.

$ABCB {{ '2016-12-19T14:24:16+0000' | timeago}} • Announcement

$ABCB's banking subsidiary Ameris Bank entered into a joint venture with US Premium Finance (USPF) whereby Ameris Bank will be the exclusive provider of credit on USPF's nationwide platform. The parties intend to close the joint venture transaction on Jan. 3, 2017.

$ABCB {{ '2016-10-17T16:22:06+0000' | timeago}} • Webcast

$ABCB entered 3Q16 with about $162MM in locked loans and ended the quarter with about $145MM in locked loans. The company expects to end 2016 at $130-135MM if the trend remains consistent with the levels in prior quarters.

$ABCB {{ '2016-10-17T16:11:55+0000' | timeago}} • Webcast

$ABCB said in terms of M&A, it would look in the lending line of business where the company could operate with an incremental return on asset in the 1.5-2% range. The company would look for a deal that would be accretive to credit risk.

$ABCB {{ '2016-10-17T16:02:54+0000' | timeago}} • Webcast

$ABCB said it is currently focusing on loans which are closer to $5-10MM. The company said one-third of its largest 50 deals are municipal accounts. $ABCB has not changed its internal lending limits and this is less than one-fourth of its legal lending limit.

$ABCB {{ '2016-10-17T15:39:54+0000' | timeago}} • Webcast

$ABCB had net interest margin of 3.99% in 3Q16. Excluding accretion income, net interest margin was 3.75%. Loan pricing on new production came in at 4.14%. Lower production yields were expected given the percentage of municipal in the growth rate. Mortgage revenues were $14.1MM, up about 40% compared to 3Q15.

$ABCB {{ '2016-10-17T15:25:28+0000' | timeago}} • Webcast

Financial holding company $ABCB said return on assets increased to 1.35% in 3Q16 from 1.21% in 3Q15. Return on tangible common equity increased to 17.18%. Operating efficiency ratio moved down to 60.1% in the quarter. The company ended 3Q16 with 41BP of legacy non-performing assets.

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