ATLANTA (AP) — ATLANTA (AP) — Ameris Bancorp (ABCB) on Monday reported first-quarter profit of $87.9 million.
The bank, based in Atlanta, said it had earnings of $1.27 per share. Earnings, adjusted for non-recurring costs, were $1.28 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.
The bank posted revenue of $397.8 million in the period. Its revenue net of interest expense was $286.8 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $278.8 million.
Ameris Bancorp shares have declined 9% since the beginning of the year. In the final minutes of trading on Monday, shares hit $56.96, a rise of 19% in the last 12 months.
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