ATLANTA (AP) — ATLANTA (AP) — Ameris Bancorp (ABCB) on Thursday reported first-quarter profit of $110.5 million.
The Atlanta-based bank said it had earnings of $1.63 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.54 per share.
The bank posted revenue of $421.7 million in the period. Its revenue net of interest expense was $315.3 million, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $309.3 million.
Ameris Bancorp shares have risen 14% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $84.62, an increase of 52% in the last 12 months.
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