Ameris Bancorp: 1Q Earnings Snapshot

ATLANTA (AP) _ Ameris Bancorp (ABCB) on Thursday reported first-quarter earnings of $19.3 million.

The Atlanta-based bank said it had earnings of 28 cents per share. Earnings, adjusted for one-time gains and costs, were 56 cents per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.

The bank posted revenue of $237.1 million in the period. Its revenue net of interest expense was $202.3 million, which also fell short of Street forecasts.

Ameris Bancorp shares have dropped 49% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $21.77, a drop of 38% in the last 12 months.


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