Ameris Bancorp (NASDAQ:ABCB) Q4 2022 Earnings Conference Call January 28, 2023 9:00 AM ET
Company Participants
Palmer Proctor - Chief Executive Officer
Nicole Stokes - Chief Financial Officer
Jon Edwards - Chief Credit Officer
Conference Call Participants
Casey Whitman - Piper Sandler
Brady Gailey - KBW
Christopher Marinac - Janney Montgomery Scott
Operator
Hello everyone and welcome to the Ameris Bancorp fourth quarter 2022 conference call, and thank you for standing by. My name is Daisy and I will be coordinating your call today.
If you would like to register a question, please press star followed by one on your telephone keypad.
I’ll now hand over to your host, Nicole Stokes, Chief Financial Officer to begin. Nicole, please go ahead.
Nicole Stokes
Great, thank you Daisy, and thank you to all who have joined our call today.
During the call, we will be referencing the press release and the financial highlights that are available on the Investor Relations section of our website at amerisbank.com.
I’m joined today by Palmer Proctor, our CEO, and Jon Edwards, our Chief Credit Officer. Palmer will begin with some opening comments and then I will discuss the details of our financial results before we open up for Q&A.
Before we begin, I’ll remind you that our comments may include forward-looking statements. These statements are subject to risks and uncertainties. The actual results could vary materially. We list some of these factors that might cause results to differ in our press release and our SEC filings, which are available on our website. We do not assume any obligation to update any forward-looking statements as a result of new information, early developments or otherwise, except as required by law. Also during the call, we will discuss certain non-GAAP financial measures in reference to the company’s performance. You can see our reconciliation of these measures and GAAP financial measures in the appendix to our presentation.
With that, I’ll turn it over to Palmer.
Palmer Proctor
Thank you Nicole. Good morning everyone. I appreciate you taking the time to join our call today.
We were very pleased with the financial results we reported yesterday, and I’m also excited to be able to share some of the financial highlights in addition to our overall strategic view, before Nicole gets into some of the details.
For the fourth quarter, we reported net income of $82.2 million or $1.18 per diluted share, and for the year we earned net income of $346.5 million or $4.99 per diluted share. We had another quarter of margin expansion where our margin improved by six basis points to just over 4%, and then our net interest income increased over 5%.