Ameris Bancorp Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Reports Net Charge-Offs for the Fourth Quarter of 2014
January 29, 2015 at 08:30 am EST
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Ameris Bancorp announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, net interest income was $41,006,000 against $29,051,000 a year ago. Income before income taxes was $14,747,000 against $1,466,000 a year ago. Net income was $10,580,000 against $1,378,000 a year ago. Net income available to common shareholders was $10,580,000 against $966,000 a year ago. Diluted earnings available to common shareholders was $0.39 against $0.04 a year ago. Return on average assets was 1.05% against 0.19% a year ago. Return on average common equity was 11.57% against 2.20% a year ago.
For the full year, net interest income was $149,886,000 against $116,185,000 a year ago. Income before income taxes was $56,205,000 against $29,303,000 a year ago. Net income available to common shareholders was $38,437,000 against $18,280,000 a year ago. Diluted earnings available to common shareholders was $1.46 against $0.75 a year ago. Return on average assets was 1.08% against 0.70% a year ago. Return on average common equity was 12.40% against 8.06% a year ago. Book value per share was $13.67 against $11.50 a year ago. Tangible book value per share was $10.99 against $9.87 a year ago.
Net charge-offs were $1,705,000 for the fourth quarter of 2014 against $2,677,000 a year ago.
Ameris Bancorp is a financial holding company, through its subsidiary, Ameris Bank (the Bank) provides a range of banking services to its retail and commercial customers in 164 locations in Georgia, Alabama, Florida, North Carolina and South Carolina. Its segments include the Banking Division, which provides full service financial services, including commercial loans, consumer loans and deposit accounts; the Retail Mortgage Division, which is engaged in origination, sales and servicing of one-to-four family residential mortgage loans; the Warehouse Lending Division is engaged in the origination and servicing of warehouse lines to other businesses are secured by underlying one-to-four family residential mortgage loans and residential mortgage servicing rights; the SBA Division is engaged in the origination, sales and servicing of small business administration loans, and the Premium Finance Division engaged in the origination and servicing of commercial insurance premium finance loans.
Ameris Bancorp Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Reports Net Charge-Offs for the Fourth Quarter of 2014