Wall Street expects a year-over-year increase in earnings on lower revenues when Amerant Bancorp Inc. (AMTB) reports results for the quarter ended June 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 2 ...

TAMPA, Fl, July 16, 2024 (GLOBE NEWSWIRE) -- Amerant Bank, Florida's bank of choice with a growing presence across the Greater Tampa area, today announced a multi-year strategic partnership with the Tampa Bay Rays making Amerant Bank the "Official Bank" of the team. This is the fourth major sports franchise that has partnered with Amerant – the Florida Panthers, the Miami Heat, the Miami Marlins, and now the Rays. Amerant Bank is headquartered in Coral Gables and has served the South Florida community for o ...

PALM BEACH, Fl, July 01, 2024 (GLOBE NEWSWIRE) -- Amerant Bank, Florida's bank of choice with a growing presence across South Florida, has named Jesse Flowers as EVP, Palm Beach Market President. Flowers, an integral part of the financial services industry in the Palm Beach market, brings over two decades of experience in banking, specializing in servicing clients seeking a true and authentic relationship with their bank. "We are excited to welcome Jesse as Amerant's new market president for Palm Beach Coun ...

PALM BEACH, Fl, July 01, 2024 (GLOBE NEWSWIRE) -- Amerant Bank, Florida’s bank of choice with a growing presence across South Florida, has named Jesse Flowers as EVP, Palm Beach Market President. Flowers, an integral part of the financial services industry in the Palm Beach market, brings over two decades of experience in banking, specializing in servicing clients seeking a true and authentic relationship with their bank. “We are excited to welcome Jesse as Amerant’s new market president for Palm Beach Coun ...

Core Insights - Amerant Bank has appointed Mike Nursey as EVP, Central Florida Market President to enhance its growth strategy in the Greater Tampa area and Central Florida [1][2] - Nursey brings over two decades of experience in building client relationships and driving growth for various companies, making him a suitable leader for Amerant Bank's strategic goals [2] - The bank's new regional headquarters and banking center in Tampa are part of its commitment to serve key markets in Central and South Florida [3][4] Company Overview - Amerant Bank is the largest community bank headquartered in Florida and a subsidiary of Amerant Bancorp Inc., with a presence in South Florida, Tampa, and Houston [5] - The bank has been operational for over 40 years and supports numerous non-profit and community organizations [5] - Amerant Bank was recognized as a Most Loved Workplace® in 2022 and 2023 by Best Practice Institute [5] Leadership and Community Engagement - Mike Nursey has previously served as North Florida Market President and Managing Director for Middle Market Florida at TD Bank, focusing on client acquisition and growth capital for companies with revenues between $20 million and $1 billion [2] - Nursey is actively involved in community service, serving on the Board of Directors for Special Olympics Florida and the American Cancer Society-Tampa Bay, aligning with Amerant Bank's values [3]

TAMPA, Fl, June 17, 2024 (GLOBE NEWSWIRE) -- Amerant Bank, Florida’s bank of choice with a growing presence across the Greater Tampa area, has named industry veteran, Mike Nursey, as EVP, Central Florida Market President. Nursey will be responsible for the strategic execution of Amerant Bank’s growth strategy in Hillsborough, Pinellas counties as well as other key markets throughout Central Florida. “We are delighted to welcome Mike to the Amerant Bank team. His expertise in leading high-performing teams a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-38534 Amerant Bancorp Inc. (Exact name of registrant as specified in its charter) Florida 65-0032379 (Sta ...

Financial Data and Key Metrics Changes - Diluted income per share for Q1 2024 was $0.31, an improvement over the prior quarter due to the impact of non-routine items in Q4 [10] - Net interest margin decreased to 3.51% in Q1 from 3.72% in Q4, influenced by the timing of the Houston multifamily portfolio sale and repayment of institutional deposits [10][12] - Total assets reached a record high of $9.82 billion, slightly up from $9.72 billion in the prior period [11] - Total deposits decreased slightly by $16.6 million to $7.88 billion compared to $7.89 billion in Q4 [11] - Total gross loans decreased by $258.5 million to $7 billion, down from $7.26 billion in Q4 [11] Business Line Data and Key Metrics Changes - Total loans decreased by $258.5 million due to the sale of a $401 million multifamily loan portfolio in Houston, but there was strong organic loan growth of $142.5 million [7] - Organic deposit growth was $331.8 million during Q1, offsetting planned reductions in institutional and broker deposits [7] - Noninterest income was $14.5 million, down $5.1 million from $19.6 million in Q4, primarily due to the absence of gains on early extinguishment of FHLB advances [35] - Noninterest expense was $66.6 million, down $43.1 million from $109.7 million in Q4, driven by the absence of non-routine items [36] Market Data and Key Metrics Changes - Domestic deposits accounted for 67% of total deposits, totaling $5.3 billion, down 2.6% compared to the prior quarter [14] - International deposits, which account for 33% of total deposits, totaled $2.6 billion, up 5.1% compared to the previous quarter [14] - The loan-to-deposit ratio temporarily decreased to 88.9% due to the Houston loan sale, expected to migrate closer to the target of 95% as loan demand increases [13] Company Strategy and Development Direction - The company is focusing on growing its Florida franchise and has exited the Houston market with the sale of its franchise there [5] - Plans include opening new banking centers in Greater Tampa and Miami, and enhancing visibility through partnerships [39] - The company aims to maintain a CET1 ratio around 10% and is considering capital deployment strategies including buybacks and growth funding [44] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in organic growth and expects loan production to increase as new hires begin contributing [46] - The company anticipates stable net interest margins in the upcoming quarters, with expectations of higher yielding loan production [32] - Management is monitoring credit quality closely, with expectations for charge-offs to decrease moving forward [50] Other Important Information - The allowance for credit losses at the end of Q1 was $96.1 million, an increase of 0.6% from the previous quarter [24] - The company opened new regional headquarters and banking centers in Florida to support growth efforts [8][9] Q&A Session Summary Question: Can you provide more details on the special mention loans and the covenant breaches? - Management indicated that some downgrades were related to financial metrics and leverage, but overall, they are not seeing pervasive issues [42] Question: How will the capital from the Houston sale be deployed? - Management plans to maintain a CET1 ratio around 10% and will consider buybacks and growth funding as part of capital deployment [44] Question: What are the expectations for loan growth moving forward? - Management expects loan growth to pick up throughout the year, with a target of 15% annualized growth [46] Question: Can you clarify the charge-offs related to the consumer book? - Charge-offs included $8.6 million related to indirect consumer loans, with expectations for lower future charge-offs [50] Question: What is the expected impact on margins from the Houston exit? - Management anticipates some improvement in net interest margin post-transaction, despite temporary losses in interest income [54]

Amerant Bancorp Inc. (AMTB) reported $92.46 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 9.1%. EPS of $0.32 for the same period compares to $0.59 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $91.76 million, representing a surprise of +0.76%. The company delivered an EPS surprise of -11.11%, with the consensus EPS estimate being $0.36.While investors scrutinize revenue and earnings changes year-over-year and how they compare with ...

CONTACTS: Investors Laura Rossi InvestorRelations@amerantbank.com (305) 460-8728 Media Alexis Dominguez MediaRelations@amerantbank.com (305) 441-5541 AMERANT REPORTS FIRST QUARTER 2024 RESULTS Board of Directors Declares Quarterly Cash Dividend of $0.09 per Common Share CORAL GABLES, FLORIDA, April 24, 2024. Amerant Bancorp Inc. (NYSE: AMTB) (the "Company" or "Amerant") today reported net income attributable to the Company of $10.6 million in the first quarter of 2024, or $0.31 per diluted share, compared t ...