Ameris Bancorp (ABCB: Quote) Tuesday reported an increase in profit for the second quarter, helped mainly by higher incomes and lower loan loss provisions.
The Moultrie, Georgia-based company's second-quarter net profit available to common shareholders was $1.68 million or $0.07 per share, compared to $1.31 million or $0.06 per share last year. On average, four analysts polled by Thomson Reuters expected earnings of $0.04 per share for the quarter. Analysts' estimates typically exclude special items.
Net interest income for the quarter grew to $28.88 million from $28.75 million in the year-ago quarter. Total non-interest income rose to $8.88 million from $5.98 million in the prior-year quarter.
Three analysts had a consensus revenue estimate of $36.72 million for the quarter.
Loan loss provisions for the quarter decreased to $7.23 million from $9.12 million last year.
Non-interest expense for the quarter advanced to $26.62 million from $22.60 million in the prior-year quarter.
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by RTT Staff Writer
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