ATLANTA (AP) — ATLANTA (AP) — Ameris Bancorp (ABCB) on Thursday reported second-quarter net income of $51.4 million.
The bank, based in Atlanta, said it had earnings of 77 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.60 per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.66 per share.
The bank posted revenue of $439.1 million in the period. Its revenue net of interest expense was $334.4 million, beating Street forecasts. Three analysts surveyed by Zacks expected $322.2 million.
Ameris Bancorp shares have increased 20% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $89.16, a rise of 34% in the last 12 months.
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