Similar to IBOC, Ameris Bancorp (ABCB) reported improved net income, higher interest margins and additional revenues from the acquisition of The Prosperity Banking Co. The company also reinstituted the dividend that they eliminated during the 2008- 2009 credit crisis, repaid TARP and completed another acquisition. Yet, the stock price dropped more than 7%; we can’t ascertain any fundamental reason for the decline.
From Bernard Horn (Trades, Portfolio)’s Polaris Global Value Fund Second Quarter 2014 Shareholder Letter.
