Regional banking company Ameris Bancorp (NYSE: ABCB) missed Wall Street’s revenue expectations in Q4 CY2025, but sales rose 5.5% year on year to $307.1 million. Its non-GAAP profit of $1.59 per share was 0.9% above analysts’ consensus estimates.
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Ameris Bancorp (ABCB) Q4 CY2025 Highlights:
- Net Interest Income: $245.3 million vs analyst estimates of $239.4 million (10.6% year-on-year growth, 2.5% beat)
- Net Interest Margin: 3.9% vs analyst estimates of 3.8% (9 basis point beat)
- Revenue: $307.1 million vs analyst estimates of $310.5 million (5.5% year-on-year growth, 1.1% miss)
- Efficiency Ratio: 46.6% vs analyst estimates of 50.4% (381 basis point beat)
- Adjusted EPS: $1.59 vs analyst estimates of $1.58 (0.9% beat)
- Tangible Book Value per Share: $44.18 vs analyst estimates of $44.18 (14.1% year-on-year growth, in line)
- Market Capitalization: $5.42 billion
Commenting on the Company’s results, Palmer Proctor, the Company’s Chief Executive Officer, said, "We are proud of our fourth quarter performance and the strong finish to another successful year for Ameris. We remained disciplined and focused on core profitability and enhancing franchise value for our shareholders. This is highlighted by our strong ROA of 1.54%, profitable asset growth that drove margin expansion and positive operating leverage, all accomplished while growing tangible book value over 14% during the year. We reinvested in ourselves, utilizing our share buyback authorization to purchase over $77 million of our common stock in 2025. Given our proven track record and robust capital levels, we are well positioned to capitalize on the growth opportunity across our Southeast footprint going forward. "
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. Regrettably, Ameris Bancorp’s revenue grew at a weak 1.6% compounded annual growth rate over the last five years. This was below our standards and is a tough 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 5.7% over the last two years is above its five-year trend, but we were still disappointed by the results. 
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’s revenue grew by 5.5% year on year to $307.1 million, missing Wall Street’s estimates.
Net interest income made up 74.1% 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 operate as balance sheet businesses, with profits generated through borrowing and lending activities. Valuations reflect this reality, emphasizing balance sheet strength and long-term book value compounding ability.
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. Traditional metrics like EPS are helpful but face distortion from M&A activity and loan loss accounting rules.
Ameris Bancorp’s TBVPS grew at an incredible 13.2% annual clip over the last five years. TBVPS growth has also accelerated recently, growing by 14.4% annually over the last two years from $33.77 to $44.18 per share.
Over the next 12 months, Consensus estimates call for Ameris Bancorp’s TBVPS to grow by 11.9% to $49.42, mediocre growth rate.
Key Takeaways from Ameris Bancorp’s Q4 Results
It was encouraging to see Ameris Bancorp beat analysts’ net interest income and EPS expectations this quarter. On the other hand, its revenue slightly missed. Overall, this was a mixed quarter. The stock remained flat at $81.39 immediately after reporting.
So should you invest in Ameris Bancorp right now? What happened in the latest quarter matters, but not as much as longer-term business quality and valuation, when deciding whether to invest in this stock. We cover that in our actionable full research report which you can read here (it’s free).
