Regional banking company Ameris Bancorp (NYSE: ABCB) reported revenue ahead of Wall Street’s expectations in Q3 CY2025, with sales up 25.1% year on year to $355 million. Its non-GAAP profit of $1.53 per share was 4.1% above analysts’ consensus estimates.
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Ameris Bancorp (ABCB) Q3 CY2025 Highlights:
- Net Interest Income: $238 million vs analyst estimates of $234.9 million (11.2% year-on-year growth, 1.3% beat)
- Net Interest Margin: 3.8% vs analyst estimates of 3.7% (7.5 basis point beat)
- Revenue: $355 million vs analyst estimates of $305.4 million (25.1% year-on-year growth, 16.3% beat)
- Efficiency Ratio: 49.5% vs analyst estimates of 51.4% (190.5 basis point beat)
- Adjusted EPS: $1.53 vs analyst estimates of $1.47 (4.1% beat)
- Tangible Book Value per Share: $42.90 vs analyst estimates of $42.50 (13.9% year-on-year growth, 0.9% beat)
- Market Capitalization: $5.06 billion
Commenting on the Company’s results, Palmer Proctor, the Company’s Chief Executive Officer, said, “Our performance continues to be outstanding, with a third quarter return on assets of 1.56% and return on tangible common equity of 14.6%. Our focus on sustainable growth in both core deposits and tangible book value per share was again evident in the quarter. Deposits grew 5% annualized while our non-interest bearing deposit mix remained over 30%. Tangible book value grew by more than 15% annualized to almost $43 per share. Our net interest margin of 3.80% places us among the top performers across the industry. The efficiency ratio remained low, aided by approximately 18% annualized revenue growth. Given our robust capital levels and proven track record, we are well positioned to take advantage of the growth potential across our Southeast franchise in 2026 and beyond.”
Company Overview
Tracing its roots back to 1971 and expanding significantly through both organic growth and strategic acquisitions, Ameris Bancorp (NYSE: ABCB) is a financial holding company that provides a full range of banking services to retail and commercial customers across select markets in the southeastern United States.
Sales Growth
In general, banks make money from two primary sources. The first is net interest income, which is interest earned on loans, mortgages, and investments in securities minus interest paid out on deposits. The second source is non-interest income, which can come from bank account, credit card, wealth management, investing banking, and trading fees. Over the last five years, Ameris Bancorp grew its revenue at a mediocre 3.9% compounded annual growth rate. This wasn’t a great result compared to the rest of the banking sector, but there are still things to like about Ameris Bancorp.
We at StockStory place the most emphasis on long-term growth, but within financials, a half-decade historical view may miss recent interest rate changes, market returns, and industry trends. Ameris Bancorp’s annualized revenue growth of 6.4% over the last two years is above its five-year trend, suggesting some bright spots. 
Note: Quarters not shown were determined to be outliers, impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business.
This quarter, Ameris Bancorp reported robust year-on-year revenue growth of 25.1%, and its $355 million of revenue topped Wall Street estimates by 16.3%.
Net interest income made up 72.1% of the company’s total revenue during the last five years, meaning lending operations are Ameris Bancorp’s largest source of revenue.
Net interest income commands greater market attention due to its reliability and consistency, whereas non-interest income is often seen as lower-quality revenue that lacks the same dependable characteristics.
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Tangible Book Value Per Share (TBVPS)
Banks profit by intermediating between depositors and borrowers, making them fundamentally balance sheet-driven enterprises. Market participants emphasize balance sheet quality and sustained book value growth when evaluating these institutions.
Because of this, tangible book value per share (TBVPS) emerges as the critical performance benchmark. By excluding intangible assets with uncertain liquidation values, this metric captures real, liquid net worth per share. EPS can become murky due to acquisition impacts or accounting flexibility around loan provisions, and TBVPS resists financial engineering manipulation.
Ameris Bancorp’s TBVPS grew at an incredible 13.8% annual clip over the last five years. TBVPS growth has also accelerated recently, growing by 14.9% annually over the last two years from $32.49 to $42.90 per share.
Over the next 12 months, Consensus estimates call for Ameris Bancorp’s TBVPS to grow by 11.1% to $47.67, solid growth rate.
Key Takeaways from Ameris Bancorp’s Q3 Results
We were impressed by how significantly Ameris Bancorp blew past analysts’ revenue expectations this quarter. We were also happy its net interest income narrowly outperformed Wall Street’s estimates. Overall, we think this was a decent quarter with some key metrics above expectations. The stock remained flat at $74.48 immediately following the results.
Indeed, Ameris Bancorp had a rock-solid quarterly earnings result, but is this stock a good investment here? The latest quarter does matter, but not nearly as much as longer-term fundamentals and valuation, when deciding if the stock is a buy. We cover that in our actionable full research report which you can read here, it’s free for active Edge members.
