Ameris Bancorp(ABCB) - 2025 Q1 - Quarterly Report

Financial Performance - Ameris reported net income of $87.9 million, or$1.27 per diluted share, for Q1 2025, up from $74.3 million, or$1.08 per diluted share, in Q1 2024, representing a 18.8% increase in net income [128]. - The return on average assets increased to 1.36% in Q1 2025 from 1.18% in Q1 2024, while the return on average shareholders' equity rose to 9.39% from 8.63% [128]. - Income before income tax expense rose to $112.936 million in Q1 2025, up from$97.450 million in Q1 2024, representing a 15.9% increase [129]. Interest Income and Expenses - Total interest income for Q1 2025 was $333.778 million, compared to$329.452 million in Q1 2024, reflecting a slight increase of 1% [129]. - Net interest income increased to $221.839 million in Q1 2025 from$201.388 million in Q1 2024, marking a growth of 10.2% [129]. - The net interest margin for Q1 2025 was 3.73%, up 22 basis points from 3.51% in Q1 2024 [1]. - Total interest income for Q1 2025 was $334.7 million, compared to$330.4 million in Q1 2024 [2]. Noninterest Income and Expenses - Noninterest income for Q1 2025 was $64.023 million, compared to$65.878 million in Q1 2024, showing a decline of 2.8% [129]. - Total noninterest expense increased to $151.034 million in Q1 2025 from$148.711 million in Q1 2024, reflecting a rise of 1.6% [129]. - Total noninterest income for Q1 2025 was $64.0 million, a decrease of$1.9 million, or 2.8%, from $65.9 million in Q1 2024 [4]. Credit Losses and Asset Quality - Provision for credit losses decreased to$21.892 million in Q1 2025 from $21.105 million in Q1 2024, indicating a reduction of 3.7$21.9 million, compared to $21.1 million in Q1 2024 [3]. - Non-performing assets as a percentage of total assets decreased to 0.44$21.25 billion, a slight decrease of $33.3 million or 0.2$21.27 billion at December 31, 2024 [147]. - Total deposits increased by $190.0 million, or 0.9$21.91 billion at March 31, 2025, compared to $21.72 billion at December 31, 2024 [164]. - Noninterest-bearing deposits rose by$246.5 million, or 3.8%, while interest-bearing deposits decreased by $56.5 million, or 0.4$3.52 billion and $2.29 billion, respectively, at March 31, 2025 [175]. Risk Management - Management emphasized the importance of monitoring various risks, including economic conditions and regulatory changes, which could impact future performance [124]. - The company regularly assesses the valuation of other real estate owned (OREO), which totaled$863,000 at March 31, 2025, a decrease of 64.5% from $2.4 million at December 31, 2024 [156].