Elliot Shafer Amerant's new SVP, Head of Business Development MIAMI, FL, June 09, 2025 (GLOBE NEWSWIRE) -- Amerant Bank, Florida’s bank of choice with a growing presence across South Florida, has named Elliot Shafer as SVP, Head of Business Development. In this key role, Shafer will support Amerant’s growth by identifying, evaluating, and pursuing business opportunities that align with Amerant’s strategic objectives across all lines of business. “We are excited to welcome Elliot to the team,” said Jerry ...

Core Viewpoint - The Schall Law Firm is investigating Amerant Bancorp Inc. for potential violations of securities laws, particularly regarding misleading statements and undisclosed information that may have affected investors [1][2]. Financial Performance - Amerant Bancorp reported Q1 2025 financial results on April 23, 2025, with earnings per share significantly missing consensus estimates [2]. - The Chairman and CEO indicated that loan activity was flat quarter over quarter due to increased payoffs and paydowns offsetting new production [2]. - Following the earnings report, Amerant's shares dropped by over 13% the next day [2].

Financial Performance - Net income attributable to Amerant Bancorp Inc. for Q1 2025 was $11,958 thousand, compared to $10,568 thousand in Q1 2024, reflecting an increase of 13.2%[12] - The company reported comprehensive income of $24,490 thousand for Q1 2025, significantly higher than $5,480 thousand in Q1 2024[14] - Basic earnings per share for Q1 2025 was $0.28, a decrease from $0.32 in Q1 2024[14] - Net income for the three months ended March 31, 2025, was $11,958,000, an increase of 13.2% compared to $10,568,000 for the same period in 2024[17] - The efficiency ratio improved to 67.9% in the three months ended March 31, 2025, compared to 72.0% in the same period of 2024[194] Asset and Deposit Growth - Total assets increased to $10,169,688 thousand as of March 31, 2025, up from $9,901,734 thousand at December 31, 2024, representing a growth of 2.7%[11] - Total deposits grew to $8,154,978 thousand as of March 31, 2025, up from $7,854,595 thousand at December 31, 2024, marking a 3.8% increase[11] - Total interest-earning assets rose to $9,294,146 thousand in Q1 2025, up from $8,942,043 thousand in Q1 2024, representing an increase of about 3.9%[205] Income and Interest Metrics - Net interest income for Q1 2025 was $85,904 thousand, an increase of 10.4% compared to $77,968 thousand in Q1 2024[12] - Noninterest income increased to $19,525 thousand in Q1 2025, compared to $14,488 thousand in Q1 2024, a growth of 35.0%[12] - The net interest margin improved to 3.75% in Q1 2025 from 3.51% in Q1 2024, showing an enhancement of 24 basis points[207] - The cost of total deposits decreased to 2.60% in Q1 2025 from 3.00% in Q1 2024, reflecting a reduction of 40 basis points[207] Credit Losses and Provisions - Provision for credit losses rose to $18,446 thousand in Q1 2025, up from $12,400 thousand in Q1 2024, indicating a 48.5% increase[12] - The allowance for credit losses increased to $98,266 thousand as of March 31, 2025, up from $84,963 thousand at December 31, 2024[11] - The provision for credit losses on loans for the three months ended March 31, 2025, was $17.196 million, which included $13.9 million for specific reserves and $4.7 million for macroeconomic model adjustments[70] Loan Portfolio and Quality - Total loans held for investment decreased to $7.16 billion as of March 31, 2025, from $7.23 billion at December 31, 2024, representing a decline of approximately 1%[54] - Total past due loans increased to $103.71 million as of March 31, 2025, compared to $55.94 million at December 31, 2024, indicating a significant rise in delinquency[59] - Nonaccrual loans totaled $89.99 million as of March 31, 2025, compared to $72.72 million at December 31, 2024, reflecting an increase of approximately 23.7%[60] - The Allowance for Credit Losses (ACL) increased by $13.3 million, or 15.7%, to $98.266 million as of March 31, 2025, compared to December 31, 2024[68] Strategic Initiatives and Changes - The company is in the process of dissolving its Cayman Bank subsidiary, expected to be completed in 2025[21] - In April 2025, the company announced a strategic transition to focus on in-footprint mortgage lending, planning to reduce FTE count from 77 to 20 within 120 days[156] - The company opened a new regional headquarters and banking center in West Palm Beach in April 2025, with additional locations planned in Miami Beach and downtown Tampa[155] Regulatory and Economic Environment - The company is subject to extensive regulation, which could limit activities and adversely affect earnings, alongside potential legal and regulatory changes impacting financial institutions[147] - The unemployment rate has slightly increased to just above 4%, with economists anticipating a potential recession in the latter half of 2025 due to tariff impacts[159][160] - The Federal Reserve has maintained steady interest rates despite inflation remaining above its 2% target, contributing to economic uncertainty[158]

Group 1 - The credit quality outlook for US banks has worsened following President Trump's tariffs, which have led to increased market volatility and economic uncertainty [2] - Several US banks have responded to the changing economic environment by increasing their credit loss reserves [2]

Financial Data and Key Metrics Changes - Total assets increased to $10.2 billion from $9.9 billion in the previous quarter [9] - Total deposits rose by $300 million to $8.2 billion compared to $7.9 billion in the fourth quarter [11] - Diluted income per share decreased to $0.28 from $0.40 in the fourth quarter [12] - Net interest income was $85.9 million, down from $87.6 million in the previous quarter [14] - Provision for credit losses increased to $18.4 million from $9.9 million in the fourth quarter [15] - Efficiency ratio improved to 67.87% from 74.91% in the previous quarter [24] Business Line Data and Key Metrics Changes - Total gross loans decreased by $52 million to $7.2 billion, primarily due to increased prepayments [11] - Non-interest income was $19.5 million, including a net gain of $2.8 million from a loan sale [16] - Assets under management increased by $42 million to $2.93 billion [18] Market Data and Key Metrics Changes - The ratio of non-interest-bearing deposits to total deposits increased to 20.4% from 19.2% [23] - ROA and ROE decreased to 0.48% and 5.02% respectively, compared to 0.67% and 7.38% in the previous quarter [24] Company Strategy and Development Direction - The company is transitioning from a national mortgage business to a Florida-focused model to reduce capital requirements [21] - Strategic additions to the leadership team emphasize a robust risk management framework [39][40] - The company plans to open new regional offices in key Florida markets to support growth initiatives [53][54] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges but highlighted strong deposit growth and net interest income performance [7][8] - The company expects loan production growth in the 10% to 15% range by year-end, despite macroeconomic uncertainties [35] - Management remains focused on delivering improved growth and value to shareholders amid macroeconomic challenges [57] Other Important Information - The company paid a quarterly cash dividend of $0.09 per common share [18] - A strategic decision was made to reduce operating costs in the mortgage business, expecting savings of approximately $2.5 million per quarter starting in Q3 [22] Q&A Session Summary Question: Loan growth outlook and impacts of macro volatility - Management indicated a prudent approach to loan growth due to uncertainty, but remains optimistic about demand [61][62] Question: Asset quality and charge-off expectations - Charge-off levels are expected to rise slightly in Q2 but normalize thereafter, with a target of 1% ROA in the second half of the year [70][71] Question: Mortgage expense outlook and impact on bottom line - Expected expense savings from the mortgage business will drop to the bottom line [77] Question: Credit quality and special mention loans - Management noted that special mention loans increased due to updated financial information and proactive risk management [85][88] Question: Buyback strategy and appetite - The company has been active in buybacks under a 10b5-1 plan, with a focus on avoiding dilution [95][98] Question: Margin outlook and loan production yields - New loan production yields are expected to be in the range of 6.25% to 6.50%, with ongoing management of deposit costs [105][108]

Amerant Bancorp (AMTB) Q1 2025 Earnings Call April 24, 2025 08:30 AM ET Company Participants Laura Rossi - Senior VP, Head of Investor Relations & SustainabilityJerry Plush - Chairman & CEOSharymar Calderón - SEVP & CFORussell Gunther - Managing DirectorWoody Lay - Vice PresidentMichael Rose - Managing DirectorStephen Scouten - Managing Director Operator Greetings and welcome to the Ameren Bancorp's First Quarter twenty twenty five Results. At this time, all participants are in a listen only mode. A questio ...

Financial Data and Key Metrics Changes - Total assets increased to $10.2 billion from $9.9 billion in the previous quarter [7] - Total investments rose to $1.76 billion from $1.5 billion in the fourth quarter [8] - Total gross loans decreased by $52 million to $7.2 billion, primarily due to increased prepayments [8] - Total deposits increased by $300 million to $8.2 billion, driven by growth in core deposits [9] - Diluted income per share for the first quarter was $0.28, down from $0.40 in the fourth quarter, mainly due to higher provision expenses [10] - Net interest margin remained flat at 3.75%, better than projected [10][11] - Provision for credit losses increased to $18.4 million from $9.9 million in the previous quarter [12] Business Line Data and Key Metrics Changes - The mortgage business is transitioning to focus on Florida, reducing operating costs and variable expenses [15][16] - Non-interest income was $19.5 million, including a net gain of $2.8 million from a previously charged-off asset [13] - The efficiency ratio improved to 67.87% from 74.91% in the previous quarter [18] Market Data and Key Metrics Changes - The ratio of non-interest bearing deposits to total deposits increased to 20.4% from 19.2% [18] - The allowance for credit losses to total loans increased to 1.37% from 1.18% [19] Company Strategy and Development Direction - The company is focusing on building out its infrastructure to support regional banking and intends to continue this direction [7] - A strategic change in the mortgage business aims to reduce costs and improve efficiency, with expectations of lower non-interest income [15][16] - The company plans to expand its presence in key markets, including new banking centers in West Palm Beach and Miami Beach [37][38] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges but highlighted outperformance in net interest income and deposit growth [6] - The company expects continued growth in core deposits and a cautious approach to loan production due to macroeconomic uncertainties [24][26] - Management remains committed to a prudent capital management approach, balancing growth with buybacks and dividends [28] Other Important Information - The company redeemed $60 million in senior notes due this year [14] - Recent leadership additions are aimed at strengthening risk management and business development [29][34] Q&A Session Summary Question: Loan growth outlook and impact of macro volatility - Management noted a pullback from commercial customers but remains optimistic about loan demand in the second half of the year [44][45] Question: Asset quality and charge-off expectations - Charge-off levels are expected to rise slightly in the second quarter but normalize thereafter [52] Question: Mortgage expense outlook and reinvestment - Expected expense savings from the mortgage business will drop to the bottom line [59] Question: Impact of macro uncertainty on initiatives - Management confirmed commitment to complete planned branch openings despite macro uncertainties [60][61] Question: Increase in special mentions and credit quality - Management indicated that special mentions are proactive measures and do not necessarily indicate problem assets [66][67] Question: Buyback strategy and appetite - The company has been active in buybacks under a 10b5-1 plan, aiming to avoid dilution [72][74] Question: Margin outlook and loan production yields - New loan production yields are expected to be between 6.25% and 6.50% due to competitive pressures [80][82]

Core Insights - Amerant Bancorp Inc. reported revenue of $105.43 million for Q1 2025, a 14% year-over-year increase, but EPS decreased to $0.24 from $0.32 a year ago [1] - The revenue exceeded the Zacks Consensus Estimate of $102.39 million by 2.97%, while the EPS fell short of the consensus estimate of $0.40 by 40% [1] Financial Performance Metrics - Efficiency Ratio was reported at 67.9%, better than the estimated 69.2% [4] - Net interest margin stood at 3.8%, slightly above the average estimate of 3.7% [4] - Net charge-offs as a percentage of average total loans held for investment were 0.2%, lower than the estimated 0.4% [4] - Average balances of total interest-earning assets were $9.29 billion, compared to the estimated $9.26 billion [4] - Noninterest income was reported at $19.53 million, exceeding the average estimate of $18 million [4] - Net interest income reached $85.90 million, surpassing the average estimate of $84.39 million [4] Stock Performance - Amerant Bancorp's shares have returned -10.3% over the past month, compared to a -6.6% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market [3]

Financial Performance - Net income for Q1 2025 was $12.0 million, or $0.28 per diluted share, down from $16.9 million, or $0.40 per diluted share in Q4 2024[1] - Core net income for the same period was $10,153 thousand, down from $21,160 thousand in the previous quarter, indicating a decline of 52%[20] - In Q1 2025, the net income attributable to Amerant Bancorp Inc. was $11.958 million, compared to $16.881 million in Q4 2024 and a loss of $48.164 million in Q3 2024[25] - Basic earnings per common share decreased to $0.28 in Q1 2025 from $0.40 in Q4 2024, a decline of 30%[18] Assets and Deposits - Total assets increased by $268.0 million, or 2.7%, to $10.2 billion compared to Q4 2024[2] - Total deposits rose by $300.4 million, or 3.8%, to $8.2 billion, with core deposits increasing by $372.9 million, or 6.6%, to $6.0 billion[2] - Total assets increased to $10,169,688 thousand as of March 31, 2025, compared to $9,901,734 thousand on December 31, 2024, reflecting a growth of 2.7%[18] - Total deposits increased to $8,154,978 thousand as of March 31, 2025, compared to $7,854,595 thousand on December 31, 2024, reflecting a growth of 3.8%[18] Non-Performing Assets and Credit Losses - Non-performing assets increased by $18.6 million, or 15.2%, to $140.8 million, with non-performing loans rising to $123.2 million[3] - The allowance for credit losses increased by $13.3 million, or 15.7%, to $98.3 million due to macroeconomic factors[3] - The provision for credit losses increased to $18,446 thousand in Q1 2025, compared to $9,910 thousand in Q4 2024, representing an increase of 86%[18] - Non-performing assets as a percentage of total assets rose to 1.38% as of March 31, 2025, up from 1.23% in the previous quarter[19] Revenue and Income Sources - Pre-provision net revenue (PPNR) was $33.9 million, up $5.9 million, or 21.3%, from Q4 2024[3] - Total noninterest income for Q1 2025 was $19.525 million, down from $23.684 million in Q4 2024[25] - The loan portfolio generated interest income of $121,021,000 for the three months ended March 31, 2025, with a yield of 6.84%[35] Efficiency and Ratios - The efficiency ratio improved to 67.9%, down from 74.9% in Q4 2024[3] - The efficiency ratio improved to 67.87% in Q1 2025, down from 74.91% in Q4 2024, indicating better cost management[19] - The Tier 1 capital ratio was reported at 11.84% as of March 31, 2025, slightly down from 11.95% in the previous quarter[19] - The tangible common equity ratio was 8.69% as of March 31, 2025, slightly down from 8.77% in the previous quarter[27] Stockholder Equity and Dividends - Stockholders' equity increased to $906,263,000 as of March 31, 2025, up from $890,467,000 at December 31, 2024, representing a growth of 1.0%[27] - The company declared a cash dividend of $0.09 per common share for the last four quarters, maintaining consistency[18] - The Company declared cash dividends of $0.09 per share, resulting in an aggregate payment of $3.8 million per quarter[5] Operational Changes - The Company plans to scale back its residential mortgage operations to focus on a Florida-centric business model[4] - As of March 31, 2025, the Company had 77 full-time equivalents (FTEs) for Amerant Mortgage, a decrease from 80 FTEs as of December 31, 2024[11] - The company reported $3.2 million in expenses related to Amerant Mortgage for the three months ended March 31, 2025[54] Share Repurchase and Offerings - The Company repurchased 215,427 shares of Class A common stock at a weighted average price of $23.21 per share, totaling approximately $5.0 million[4] - A public offering of 8,684,210 shares of Class A voting common stock was completed at a price of $19.00 per share on September 27, 2024[6]

Core Insights - Amerant Bank has opened a new banking center and regional headquarters in West Palm Beach, Florida, enhancing its market presence in Palm Beach County [1][4] - The new facility is located in CityPlace, an area with significant retail and residential development, indicating a strategic choice for expansion [2][3] - The bank aims to provide tailored financial services to individuals, businesses, and commercial clients, emphasizing relationship-based solutions [4][5] Company Overview - Amerant Bank is a subsidiary of Amerant Bancorp Inc. and has been serving clients in South Florida for over 40 years [6] - The bank has a commitment to community involvement and supports various non-profit organizations [6] - Amerant Bank has been recognized as a Most Loved Workplace® in 2022, 2023, and 2024 [6]