Regional banking company Ameris Bancorp (NYSE: ABCB) fell short of the market’s revenue expectations in Q3 2026 as sales rose 2.8% year on year to $321.8 million. Its non-GAAP profit of $1.73 per share was 3.1% above analysts’ consensus estimates.
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Ameris Bancorp (ABCB) Q3 2026 highlights:
- Net Interest Income: $257.7 million vs analyst estimates of $258.6 million (8.3% year-on-year growth, in line)
- Net Interest Margin: 3.9% vs analyst estimates of 3.8% (2.5 basis point beat)
- Revenue: $321.8 million vs analyst estimates of $325.6 million (2.8% year-on-year growth, 1.1% miss)
- Efficiency Ratio: 49.2% vs analyst estimates of 50% (80 basis point beat)
- Adjusted EPS: $1.73 vs analyst estimates of $1.68 (3.1% beat)
- Tangible Book Value per Share: $45.65 vs analyst estimates of $46.18 (6% year-on-year growth, 1.1% miss)
- Market Capitalization: $5.39 billion
Commenting on the Company’s results, Palmer Proctor, the Company’s Chief Executive Officer, said, “Ameris delivered another strong quarter, reflecting our consistent focus on profitable growth, expense discipline and prudent balance sheet management. We achieved a net interest margin of 3.87%, with mid-single-digit growth in average earning assets and deposits. Return on average assets exceeded 1.60%, and our efficiency ratio improved to below 50%. Our capital position, core funding base and credit reserves remain strong, providing a solid foundation as macroeconomic conditions evolve. We remain measured in our approach to growth, maintaining disciplined underwriting and carefully allocating capital. We are confident in the strength of our Southeast franchise and remain focused on deepening customer relationships and driving disciplined organic growth. As always, our strategic decisions will be guided by the best long-term interests of the Company and our shareholders.”
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
Net interest income and fee-based revenue are the two pillars supporting bank earnings. The former captures profit from the gap between lending rates and deposit costs, while the latter encompasses charges for banking services, credit products, wealth management, and trading activities. Unfortunately, Ameris Bancorp’s 3.8% annualized revenue growth over the last five years was sluggish. This was below our standard for the banking sector and is a rough starting point for our analysis.
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 7.5% over the last two years is above its five-year trend, which is encouraging. 
Note: Quarters not shown were determined to be outliers because they were impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business.
This quarter, Ameris Bancorp’s revenue grew by 2.8% year on year to $321.8 million, falling short of Wall Street’s estimates.
Net interest income made up 76.3% of the company’s total revenue during the last five years, meaning lending operations are Ameris Bancorp’s largest source of revenue.
Markets consistently prioritize net interest income growth over fee-based revenue, recognizing its superior quality and recurring nature compared to the more unpredictable non-interest income streams.
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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.
This is why we consider tangible book value per share (TBVPS) the most important metric to track for banks. TBVPS represents the real, liquid net worth per share of a bank, excluding intangible assets that have debatable value upon liquidation. 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 10.6% annual clip over the last five years. The last two years show a similar trajectory as TBVPS grew by 10.1% annually from $37.65 to $45.65 per share.
Over the next 12 months, Consensus estimates call for Ameris Bancorp’s TBVPS to grow by 12.8% to $51.51, decent growth rate.
Key takeaways from Ameris Bancorp’s Q3 results
We struggled to find many positives in these results. Its revenue slightly missed and its tangible book value per share fell slightly short of Wall Street’s estimates. Overall, this was a weaker quarter. The stock remained flat at $82.23 immediately after reporting.
Ameris Bancorp underperformed this quarter, but does that create an opportunity to invest right now? If you’re making that decision, you should consider the bigger picture of valuation, business qualities, as well as the latest earnings. We cover that in our actionable full research report which you can read here (it’s free).
