Ameris Bancorp reported a net income of $87.9 million, or $1.27 per diluted share, for the first quarter of 2025, marking an increase from $74.3 million, or $1.08 per diluted share, in the same period of 2024. The company's return on average assets and average shareholders’ equity improved to 1.36% and 9.39%, respectively, compared to 1.18% and 8.63% in the prior year. Total interest income rose to $333.8 million, up from $329.5 million, while total interest expense decreased to $111.9 million from $128.1 million, resulting in a net interest income of $221.8 million, an increase from $201.4 million year-over-year.
In terms of operational changes, Ameris Bancorp's total assets increased to $26.5 billion as of March 31, 2025, compared to $26.3 billion at the end of 2024. The company saw a slight decrease in loans, which totaled $20.7 billion, down from $20.74 billion, while loans held for sale increased to $545.4 million from $528.6 million. The total deposits rose by $190 million, or 0.9%, to $21.91 billion, with noninterest-bearing deposits increasing by 3.8%. The company also reported a decrease in nonaccrual loans, which fell to $99.7 million from $102.2 million.
Strategically, Ameris Bancorp continues to focus on enhancing its product offerings and expanding its market presence. The company operates 164 branches across Georgia, Alabama, Florida, North Carolina, and South Carolina. The retail mortgage division reported a production increase, with the open pipeline finishing the quarter at $771.6 million, up from $638.5 million at the end of 2024. Additionally, service charges on deposit accounts increased by 11.7% to $13.1 million, reflecting growth in debit card and commercial account fee income.
The provision for credit losses for the first quarter of 2025 was $21.9 million, slightly higher than the $21.1 million recorded in the same quarter of 2024. The allowance for credit losses on loans increased to $345.6 million, or 1.67% of total loans, compared to $338.1 million, or 1.63%, at the end of 2024. The company’s management attributes the increase in the provision for credit losses to updated economic forecasts, which reflect rising unemployment and declining commercial real estate values.
Looking ahead, Ameris Bancorp remains optimistic about its growth trajectory, supported by its diversified portfolio and strategic initiatives. The company plans to continue focusing on organic growth, particularly in its mortgage and commercial lending divisions, while managing credit risk effectively. The management's outlook suggests a commitment to maintaining strong capital ratios and liquidity levels, ensuring the company is well-positioned to navigate potential market fluctuations.
About Ameris Bancorp
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