ABCB Ameris Bancorp

Ameris Bancorp is a bank holding company, which through the subsidiary, Ameris Bank, engages in the provision of banking services to its retail and commercial customers. It operates through the following business segments: Banking, Retail Mortgage, Warehouse Lending, the SBA and Premium Finance. The Banking segment offers full service financial services to include commercial loans, consumer loans and deposit accounts. The Retail Mortgage segment includes origination, sales, and servicing of one-to-four family residential mortgage loans. The Warehouse Lending segment includes the origination and servicing of warehouse lines to other businesses that are secured by underlying one-to-four family residential mortgage loans. The SBA segment comprises of origination, sales, and servicing of small business administration loans. The Premium Finance segment comprises origination and servicing of commercial insurance premium finance loans. The company was founded on December 18, 1980 and is headquartered in Moultrie, GA.

Company profile

Ticker

ABCB

Exchange

NASDAQ

Website

www.amerisbank.com

CEO

H. Palmer Proctor

Incorporated in

Georgia

Location

Georgia

Fiscal year end

Dec 31

Sector

Finance > Regional Banks

Industry (SEC)

State Commercial Banks

Bank Of New York Mellon • Citizens Financial • Northern Trust • M&T Bank • State Street • Ally Financial • Popular • First Citizens BancShares • East West Bancorp • Commerce Bancshares ...

Former names

Abc Bancorp

SEC CIK

0000351569

Corporate docs

Articles of Incorporation & Bylaws

IRS number

581456434

ABCB stock data

S&P 500

1M 1Y 2Y 5Y

Investment data

Data from SEC filings

Securities sold

Number of investors

Calendar

11 May 20

15 Jul 20

31 Dec 20

News

Company financial data Financial data

Chart ABCB financial data

Quarter (USD)	Mar 20	Dec 19	Sep 19	Jun 19
Revenue	182.77M	194.08M	188.36M	129.03M
Net income	19.32M	61.25M	21.38M	38.9M
Diluted EPS	0.28	0.88	0.31	0.82
Net profit margin	10.57%	31.56%	11.35%	30.15%
Net change in cash	30.31M	142.16M	141.53M	-518.85M
Cash on hand	652.16M	621.85M	479.69M	338.16M

Annual (USD)	Dec 19	Dec 18	Dec 17	Dec 16
Revenue	636.39M	413.33M	294.35M	239.07M
Net income	161.44M	121.03M	73.55M	72.1M
Diluted EPS	2.75	2.8	1.98	2.08
Net profit margin	25.37%	29.28%	24.99%	30.16%
Net change in cash	-57.68M	348.87M	132.27M	-192.18M
Cash on hand	621.85M	679.53M	330.66M	198.39M

Financial data from company earnings reports

Recent insider trades

ABCB insider ownership history Insider history

Date	Owner	Security	Transaction	Code	10b5-1	#Shares	#Remaining
12 Jun 20	William I. Jr. Bowen	Common Stock	Grant	Aquire A	No	2,496	16,867
12 Jun 20	Robert Dale Ezzell	Common Stock	Grant	Aquire A	No	2,496	37,934
12 Jun 20	Hill Leo J	Common Stock	Grant	Aquire A	No	2,496	24,653.033
12 Jun 20	Robert P LYNCH	Common Stock	Grant	Aquire A	No	2,496	202,997
12 Jun 20	McCague Elizabeth A	Common Stock	Grant	Aquire A	No	2,496	12,628

Data from 3, 4 and 5 filings. Stock values as filed, not updated for current price.

Institutional ownership Q1 2020

ABCB institutional ownership history Ownership history

83.0% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	192	233	-17.6%
Opened positions	17	42	-59.5%
Closed positions	58	30	+93.3%
Increased positions	69	82	-15.9%
Reduced positions	70	69	+1.4%

13F shares	Current	Prev Q	Change
Total value	1.38B	2.5B	-44.7%
Total shares	57.66M	58.73M	-1.8%
Total puts	202.3K	71.5K	+182.9%
Total calls	171.9K	432.7K	-60.3%
Total put/call ratio	1.2	0.2	+612.2%

Largest owners	Shares	Value	Change
BLK BlackRock	9.52M	$226.14M	-3.0%
Vanguard	7M	$166.4M	+2.2%
Dimensional Fund Advisors	3.15M	$74.88M	+1.1%
STT State Street	2.55M	$60.98M	+4.1%
Wellington Management	2.36M	$56.19M	-4.8%
FRLG Goldman Sachs	2.22M	$52.87M	+45.1%
Jennison Associates	1.61M	$38.18M	+11.9%
FJ Capital Management	1.42M	$33.71M	+67.1%
AMP Ameriprise Financial	1.21M	$28.64M	+5.1%
Polaris Capital Management	1.12M	$26.61M	+1.1%

Largest transactions	Shares	Bought/sold	Change
FRLG Goldman Sachs	2.22M	+691.11K	+45.1%
FJ Capital Management	1.42M	+570K	+67.1%
Norges Bank	0	-552.92K	EXIT
Victory Capital Management	488.8K	+471.62K	+2745.5%
Philadelphia Financial Management of San Francisco	410.54K	+410.54K	NEW
EJF Capital	0	-365.14K	EXIT
IVZ Invesco	480.45K	+346.47K	+258.6%
Emerald Advisers	0	-314.36K	EXIT
RMB Capital Management	86.34K	-312.11K	-78.3%
Emerald Mutual Fund Advisers Trust	0	-300.1K	EXIT

Data from 13F filings. Stock values as filed, not updated for current price. Long positions only.

Financial report summary

Management Discussion

Net interest income represents the amount by which interest income on interest-earning assets exceeds interest expense incurred on interest-bearing liabilities. Net interest income is the largest component of our income and is affected by the interest rate environment and the volume and composition of interest-earning assets and interest-bearing liabilities. Our interest-earning assets include loans, investment securities, other investments, interest-bearing deposits in banks, federal funds sold and time deposits in other banks. Our interest-bearing liabilities include deposits, securities sold under agreements to repurchase, other borrowings and subordinated deferrable interest debentures.
2019 compared with 2018. For the year ended December 31, 2019, interest income was $636.4 million, an increase of $223.1 million, or 54.0%, compared with the same period in 2018. Average earning assets increased $4.27 billion, or 48.2%, to $13.13 billion for the year ended December 31, 2019, compared with $8.86 billion for 2018. Yield on average earning assets on a taxable equivalent basis increased during 2019 to 4.88%, compared with 4.71% for the year ended December 31, 2018. Average yields on all interest-earning asset categories increased from 2018 to 2019 with the exception of loans held for sale, which experienced a decrease from 4.07% in 2018 to 3.75% in 2019.
Interest expense on deposits and other borrowings for the year ended December 31, 2019 was $131.2 million, an increase of $61.3 million, or 87.6%, compared with $69.9 million for the year ended December 31, 2018. During 2019 average interest-bearing liabilities were $9.13 billion as compared with $6.34 billion for 2018, an increase of $2.80 billion, or 44.1%. During 2019, average noninterest-bearing deposit accounts averaged $3.36 billion and comprised 28.8% of average total deposits, compared with $2.16 billion, or 27.5% of average total deposits, during 2018. Average balances of time deposits amounted to $2.70 billion and comprised 23.0% of average total deposits during 2019, compared with $1.67 billion, or 21.2% of average total deposits, during 2018.

Content analysis ?

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From filing 10-Q 2020 Q1