PrintPrintThe Georgia-based regional bank’s 2011 net income earnings is a sharp turnaround in fortunes compared with its $7.2 million loss in the previous year. The bank also reported total deposits for 2011 were up 2.2% to $2.59 billion.
Staff Report
Published Jan. 27, 2012
Georgia-based Ameris Bancorp, which has nine South Carolina branch locations, reported a sharp turnaround in fortunes for 2011 as net income reached $17.9 million compared with a $7.2 million loss in the previous year.
For the fourth quarter, net income dropped 71% to $322,000 compared with $1.1 million for a comparable period in 2010.
Net interest income for the bank, headquartered in Moultrie, Ga., increased 27.1% in 2011 to $113.5 million, up from $89.3 million for 2010.
Total deposits for 2011 were up 2.2% to $2.59 billion.
Ameris had $311 million in deposits in South Carolina as of June 30, according to the Federal Deposit Insurance Corp. records.
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