AMERIS BANCORP ABCB Income Statement

Ameris bancorp (ABCB)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Interest income
Interest and fees on loans
171,242	182,391	175,046	117,010	112,401	111,749	110,470	82,723	73,267	73,440	70,462	65,464	61,521	57,982	57,322	54,164	49,191	47,336	45,775	39,838	38,618	41,235	39,610	35,297	34,469	29,289	29,633	29,859	28,716	30,329	29,165	30,334	29,482	35,361	31,633	32,876	28,971	26,465	28,187
Interest on taxable securities
10,082	10,358	11,354	9,383	9,043	8,686	8,792	6,321	5,207	5,097	5,062	5,195	4,800	4,348	4,336	4,554	4,586	4,540	4,694	3,747	3,153	3,114	3,034	2,953	2,985	1,998	1,720	1,719	1,697	1,737	2,017	2,187	2,309	2,350	2,672	2,574	2,658	2,295	2,502
Interest on nontaxable securities
157	167	168	102	156	195	204	179	322	372	392	401	416	425	397	454	446	458	480	462	469	483	496	312	335	342	352	344	375	371	365	374	365	357	330	314	320	295	299
Interest on federal funds sold
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6	-	-	-	13	-	-
Interest on deposits in other banks and federal funds sold
1,287	484	1,793	2,533	3,329	1,892	1,653	723	716	655	406	351	313	168	155	168	336	234	246	182	128	61	46	45	84	118	44	29	85	98	104	112	120	130	153	159	175	118	109
Total interest income
182,768	194,076	188,361	129,028	124,929	122,749	121,119	89,946	79,512	79,564	76,322	71,411	67,050	62,956	62,210	59,340	54,559	52,601	51,195	44,229	42,368	44,900	43,186	38,607	37,873	31,749	31,749	31,951	30,873	32,539	31,651	33,007	32,282	38,223	34,788	35,923	32,137	29,173	31,097
Interest expense
Interest on deposits
24,102	27,970	29,425	23,454	21,684	18,858	15,630	7,794	6,772	6,398	5,136	4,580	3,763	3,680	3,074	2,915	2,741	2,687	2,521	2,264	2,280	2,560	2,540	2,205	2,183	2,066	2,025	2,083	2,226	2,603	3,005	3,635	4,084	4,872	6,431	6,828	7,375	6,903	7,084
Interest on other borrowings
10,721	10,755	10,167	3,923	3,850	4,337	6,451	6,153	3,939	3,643	4,331	3,674	2,697	1,997	2,069	1,836	1,382	1,296	1,275	1,277	1,256	1,334	1,514	1,138	1,206	632	404	392	309	377	408	491	471	580	555	351	555	270	154
Total interest expense
34,823	38,725	39,592	27,377	25,534	23,195	22,081	13,947	10,711	10,041	9,467	8,254	6,460	5,677	5,143	4,751	4,123	3,983	3,796	3,541	3,536	3,894	4,054	3,343	3,389	2,698	2,429	2,475	2,535	2,980	3,413	4,126	4,555	5,452	6,986	7,179	7,930	7,173	7,238
Net interest income
147,945	155,351	148,769	101,651	99,395	99,554	99,038	75,999	68,801	69,523	66,855	63,157	60,590	57,279	57,067	54,589	50,436	48,618	47,399	40,688	38,832	41,006	39,132	35,264	34,484	29,051	29,320	29,476	28,338	29,559	28,238	28,881	27,727	32,768	27,802	28,747	24,207	22,000	23,859
Provision for loan losses
37,047	-	-	-	3,408	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for unfunded commitments
4,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for credit losses
41,047	-	-	-	3,408	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for loan losses
-	-	5,989	4,668	-	3,661	2,095	9,110	1,801	2,536	1,787	2,205	1,836	1,710	811	889	681	553	986	2,656	1,069	888	1,669	1,365	1,726	1,478	2,920	4,165	2,923	4,442	6,540	7,225	12,882	9,019	7,552	9,115	7,043	9,739	18,608
Net interest income after provision for credit losses
106,898	149,658	142,780	96,983	95,987	95,893	96,943	66,889	67,000	66,987	65,068	60,952	58,754	55,569	56,256	53,700	49,755	48,065	46,413	38,032	37,763	40,118	37,463	33,899	32,758	27,573	26,400	25,311	25,415	25,117	21,698	21,656	14,845	23,749	20,250	19,632	17,164	12,261	5,251
Noninterest income
Service charges on deposit accounts
11,844	13,567	13,411	12,168	11,646	12,597	12,690	10,613	10,228	10,340	10,535	10,616	10,563	11,036	11,358	10,436	9,915	10,119	10,766	7,151	6,429	6,522	6,659	5,847	5,586	5,065	4,948	4,695	4,837	5,299	5,121	4,770	4,386	4,483	4,666	4,665	4,267	3,761	3,620
Mortgage banking activity
35,333	33,168	53,041	18,523	14,677	12,269	14,082	15,403	11,900	10,037	13,340	13,943	11,215	9,878	14,067	14,142	10,211	8,586	10,404	9,727	8,083	6,418	7,498	7,002	5,068	4,431	5,232	5,001	4,464	4,768	3,740	3,006	1,475	1,438	707	376	450	712	675
Other service charges, commissions and fees
1,128	1,095	1,236	793	789	853	790	697	719	746	699	729	709	706	791	967	1,111	1,112	1,145	829	668	643	690	662	652	612	593	617	329	387	331	322	391	343	392	273	239	180	232
Net gain (loss) on securities
-9	-1	4	69	66	1	48	-123	37	0	0	37	0	0	0	0	94	0	115	10	12	0	132	0	6	0	0	-1	172	-	-	-	-	0	0	14	224	-	-
Gain on acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	20,037	-	26,867	-	-	-	8,208
Other noninterest income
6,083	1,226	9,301	3,683	3,593	2,022	2,561	4,717	3,580	-2,150	2,425	2,864	3,219	-1,322	2,648	2,834	2,955	-1,932	2,548	2,909	2,383	-1,117	2,922	2,308	1,442	-91	1,515	1,072	1,558	864	639	777	975	654	1,090	646	1,013	357	314
Total noninterest income
54,379	55,113	76,993	35,236	30,771	30,470	30,171	31,307	26,464	23,563	26,999	28,189	25,706	24,272	28,864	28,379	24,286	22,407	24,978	20,626	17,575	16,362	17,901	15,819	12,754	11,517	12,288	11,384	11,360	11,904	9,831	8,875	27,264	6,918	33,722	5,974	6,193	5,010	13,049
Noninterest expense
Salaries and employee benefits
75,946	69,532	77,633	38,441	38,332	38,853	38,414	39,776	32,089	30,274	32,583	29,132	27,794	25,137	27,982	27,531	26,187	25,972	24,934	22,465	20,632	19,316	20,226	16,942	17,394	15,071	14,412	13,381	13,806	15,785	13,766	12,125	11,446	10,917	10,029	9,421	9,843	7,554	8,027
Occupancy and equipment expense
12,028	11,919	12,639	7,834	8,204	7,945	8,598	6,390	6,198	6,010	6,036	6,146	5,877	6,337	5,989	6,371	5,700	5,917	5,915	4,809	4,554	4,717	4,669	4,071	4,064	3,228	3,149	2,978	2,931	3,653	3,340	2,880	3,335	2,705	3,203	2,752	2,730	2,171	2,025
Data processing and communications expenses
11,954	11,362	10,372	8,388	8,391	8,293	8,518	6,439	7,135	7,219	7,050	7,028	6,572	6,244	6,185	6,049	6,113	6,046	5,329	4,214	4,260	4,229	3,928	3,940	3,454	3,061	3,072	2,836	2,570	3,254	2,599	2,905	1,925	2,650	2,817	2,452	2,396	1,729	2,077
Credit resolution-related expenses
2,198	1,098	1,094	979	911	1,174	1,248	1,045	549	614	1,347	599	933	1,083	1,526	1,764	1,799	2,223	1,083	11,240	3,161	5,290	3,186	2,840	2,190	-	2,971	-	-	-	-	-	-	-	-	-	-	-	-
Advertising and marketing expense
2,358	2,250	1,949	1,987	1,741	1,633	1,453	1,256	1,229	1,519	1,247	1,259	1,106	1,273	1,249	854	805	1,171	667	833	641	847	594	718	710	604	434	327	255	488	421	364	349	221	189	149	163	167	143
Amortization of intangible assets
5,631	5,728	5,719	3,121	3,132	3,638	2,676	2,252	934	910	941	1,013	1,036	1,044	993	1,319	1,020	1,160	1,321	630	630	662	698	437	533	346	346	358	364	363	364	412	220	229	277	242	263	254	186
Merger and conversion charges
540	2,415	65,158	3,475	2,057	997	276	18,391	835	421	92	0	402	17	0	0	6,359	1,807	446	5,712	15	67	551	2,872	450	-	512	-	-	-	-	-	-	-	-	-	-	-	-
Other noninterest expenses
27,398	5,668	18,133	17,026	12,657	3,471	11,170	10,837	10,129	-6,095	14,471	10,562	9,373	-55	9,275	8,471	7,617	1,809	8,701	6,961	6,934	541	4,727	5,498	4,444	-3,362	3,853	6,808	8,958	-18,293	8,320	7,937	16,971	12,217	12,748	7,580	5,760	7,053	10,925
Total noninterest expense
138,053	122,564	192,697	81,251	75,425	75,810	72,353	86,386	59,098	59,337	63,767	55,739	53,093	54,677	53,199	52,359	55,600	53,028	48,396	56,864	40,827	41,733	38,579	37,318	33,239	37,624	28,749	26,688	28,884	29,791	28,810	26,623	34,246	28,939	29,263	22,596	21,155	18,928	23,383
Income before income tax expense
23,224	82,207	27,076	50,968	51,333	50,553	54,761	11,810	34,366	31,213	28,300	33,402	31,367	25,164	31,921	29,720	18,441	17,444	22,995	1,794	14,511	14,747	16,785	12,400	12,273	1,466	9,939	10,007	7,891	7,230	2,719	3,908	7,863	1,728	24,709	3,010	2,202	-1,657	-5,083
Income tax expense
3,902	20,959	5,692	12,064	11,428	7,017	13,317	2,423	7,706	22,063	8,142	10,315	10,214	6,987	10,364	9,671	6,124	3,296	7,368	486	4,747	4,167	5,122	4,270	3,923	88	3,262	3,329	2,606	2,558	816	1,413	2,498	587	8,249	896	824	-760	-1,664
Net income
19,322	61,248	21,384	38,904	39,905	43,536	41,444	9,387	26,660	9,150	20,158	23,087	21,153	18,177	21,557	20,049	12,317	14,148	15,627	1,308	9,764	10,580	11,663	8,130	8,350	1,378	6,677	6,678	5,285	4,672	1,903	2,495	5,365	1,141	16,460	2,114	1,378	-897	-3,419
Preferred stock dividends
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	286	412	443	442	441	1,118	827	817	815	819	817	807	798	807	799
Net income available to common stockholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,580	11,663	8,130	8,064	966	6,234	6,236	4,844	3,554	1,076	1,678	4,550	322	15,643	1,307	580	-1,704	-4,218
Other comprehensive income
Net unrealized holding gains arising during period on investment securities available for sale, net of tax expense of $5,756 and $1,028
21,653	-	-921	17,927	3,867	-	-3,964	-1,814	-9,403	-	1,795	2,760	-194	-	-2,752	6,742	3,734	-	-1,739	3,531	-650	-	-211	2,121	2,938	-	-4,007	-3,689	-429	-	-228	1,934	-689	-	2,803	2,250	-262	736	374
Reclassification adjustment for gains on investment securities included in earnings, net of tax of $0 and $(12)
0	-	0	48	46	-	41	0	29	-	0	24	0	-	0	0	61	-	-75	-6	-8	-	86	0	4	-	0	-1	112	-	-	-	-	-	0	-8	-146	-69	-
Unrealized losses on cash flow hedges arising during period, net of tax benefit of $(26) and $(46)
-97	-	-59	-239	-173	-	0	66	281	-	25	-106	43	-	241	-193	-615	-	539	-256	387	-	149	-372	-266	-	-106	995	209	-	-240	-642	-94	-	-1,526	-574	-54	-130	-216
Other comprehensive income
21,556	-	-980	17,640	3,648	-	-4,005	-1,748	-9,151	-	1,820	2,630	-151	-	-2,511	6,549	3,058	-	1,125	-3,281	255	-	-148	1,749	2,668	-	-4,113	-2,693	-332	-	-468	1,292	-783	-	1,277	1,668	-462	537	158
Total comprehensive income
40,878	-	20,404	56,544	43,553	-	37,439	7,639	17,509	-	21,978	25,717	21,002	-	19,046	26,598	15,375	-	16,752	-1,973	10,019	-	11,515	9,879	11,018	-	2,564	3,985	4,953	-	608	3,787	3,767	-	16,920	2,975	118	-1,167	-4,060
Basic earnings per common share (in dollars per share)
0.28	0.79	0.31	0.82	0.84	1.00	0.87	0.24	0.70	0.25	0.54	0.62	0.59	0.52	0.62	0.58	0.38	0.00	0.49	0.04	0.32	-	0.44	0.32	-	-	0.26	0.26	-	-	0.05	-	-	-	0.67	-	-	-0.07	-
Diluted earnings per common share (in dollars per share)
0.28	0.78	0.31	0.82	0.84	0.99	0.87	0.24	0.70	0.23	0.54	0.62	0.59	0.53	0.61	0.57	0.37	0.00	0.48	0.04	0.32	-	0.43	0.32	-	-	0.26	0.26	-	-	0.04	-	-	-	0.66	-	-	-0.07	-
Basic and diluted earnings per common share
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.32	-	-	-	0.20	-	-	0.07	0.19	-	-	0.06	0.02	-	-0.20
Dividends declared per common share (in dollars per share)
-	-	-	-	-	-	-	-	0.10	-	0.10	0.10	0.10	0.10	0.10	0.05	0.05	0.05	0.05	0.05	0.05	-	0.05	0.05	-	-	-	0.00	-	-	-	-	-	-	-	-	-	-	-
Weighted average common shares outstanding (in thousands)
Basic (in shares)
69,248	69,799	69,372	47,311	47,366	47,654	47,515	39,432	37,967	37,260	37,225	37,163	35,664	34,933	34,870	34,833	32,752	32,226	32,195	32,184	30,443	-76,994	26,773	25,181	25,144	24,024	23,901	23,879	23,868	-71,304	23,819	23,819	23,762	-	23,438	23,449	23	23,571	21,231
Diluted (in shares)
69,502	70,062	69,600	47,338	47,456	47,347	47,685	39,710	38,250	37,494	37,553	37,489	36,040	35,406	35,195	35,153	33,054	32,639	32,553	32,520	30,796	-78,200	27,161	25,572	25,573	24,542	24,316	24,288	24,246	-71,766	23,973	23,973	23,916	-	23,559	23,508	23	23,571	21,231