Key Highlights

● GAAP net income fell to $51.4 million after an $82.5 million litigation accrual.

● Adjusted net income was $107.3 million, or $1.60 per diluted share.

● Net interest margin held steady at 3.88 per cent for the quarter.

● Loans grew an annualised 6.4 per cent to $22.18 billion in the quarter.

Ameris Bancorp (NYSE:ABCB) is the parent of Ameris Bank, a state-chartered bank headquartered in Atlanta, Georgia. According to its latest results release, the group had $28.5 billion in assets and 163 branch locations at 30 June 2026, with financial centres in five southeastern states and lending channels that reach customers nationwide. Its services include traditional banking, treasury and cash management, insurance premium financing and mortgage lending. The shares moved from Nasdaq to the New York Stock Exchange in July 2024 and trade under the symbol ABCB. For context, the S&P SmallCap 600 and S&P MidCap 400 are natural benchmarks for a bank of this size, and neither is claimed here as an index of which it is a member. In the first quarter, reported on 23 April 2026, net income was $110.5 million, or $1.63 per diluted share, with a return on average assets of 1.62 per cent, which gives a clean comparison point.

Second-Quarter 2026: Litigation Accrual Distorts the Headline

The most recent results, released on 23 July 2026 for the second quarter, need careful reading because of a large one-off item. GAAP net income was $51.4 million, or $0.77 per diluted share, compared with $109.8 million a year earlier. The company recorded an $82.5 million litigation accrual tied to a jury verdict in a California employment case, which lifted noninterest expense to $242.7 million. It also booked a $7.4 million securities gain, largely from converting Visa Class B-2 shares. Excluding both items, adjusted net income was $107.3 million, or $1.60 per diluted share, with an adjusted return on assets of 1.53 per cent. Adjusted figures are non-GAAP measures, and the litigation matter is a genuine cost, not merely an accounting adjustment. Six-month net income was $161.9 million, or $2.40 per diluted share, and $217.8 million, or $3.23, on an adjusted basis.

Margin, Loans, Deposits and Capital

Underlying operations looked steady. The tax-equivalent net interest margin was 3.88 per cent, unchanged from the first quarter and 11 basis points above a year earlier. Loans grew by $349.9 million in the quarter, an annualised 6.4 per cent, to $22.18 billion, while total deposits of $22.59 billion edged down by $49.2 million, with brokered certificates of deposit rising by $174.0 million. Noninterest-bearing deposits were 30.0 per cent of the total. Tangible book value per share rose to $45.10, and tangible common equity was 11.04 per cent of tangible assets. The quarterly dividend remained $0.20 per share, and the company repurchased 226,600 shares for $19.0 million. During the quarter it also announced entry into the Nashville market. Other borrowings rose to $1.25 billion from $888 million in the first quarter, which helps explain flat deposits alongside loan growth. Tax-equivalent net interest income was $253.4 million, up 8.9 per cent year on year.

Core Banking Metrics Held Up Through the Charge

Ameris Bancorp's headline profit was distorted by an $82.5 million accrual tied to a jury verdict in a California employment case, but underlying metrics including net interest margin, loan growth and credit quality all held steady. Other borrowings rose to $1.25 billion from $888 million even as deposits edged down slightly, a funding mix shift worth watching alongside the 22 October third-quarter report, which will show whether the litigation matter is fully resolved or carries further costs.