Ameris Bancorp Reports Q4 EPS of $.04

Ameris Bancorp ABCB, today reported net income available to common shareholders of $1.1 million, or $0.04 per diluted share, for the quarter ended December 31, 2010, compared to a net loss of $39.2 million, or $2.82 per diluted share, for the quarter ended December 31, 2009. For the year to date periods, the Company reported a net loss available to common shareholders totaling $7.2 million, or $0.35 per diluted share, in 2010 compared to $45.0 million, or $3.27 per diluted share in, 2009. Non-recurring items were part of the results in the fourth quarter of 2010 and 2009. After-tax gains associated with federally-assisted acquisitions totaled $4.2 million and $25.1 million in the fourth quarter of 2010 and 2009, respectively. In addition to the non-recurring revenue in the fourth quarter of 2009, the Company also reported a non-cash charge for goodwill impairment in the year-ago period totaling $54.8 million that had no impact on regulatory capital or tangible book value.