Core Insights - Amerant Bancorp Inc. reported revenue of $92.46 million for Q1 2024, a year-over-year decline of 9.1% and an EPS of $0.32 compared to $0.59 a year ago [1] - The revenue exceeded the Zacks Consensus Estimate of $91.76 million by 0.76%, while the EPS fell short of the consensus estimate of $0.36 by 11.11% [1] Financial Metrics - Net interest margin was reported at 3.5%, slightly below the average estimate of 3.6% from three analysts [2] - Efficiency Ratio stood at 72%, better than the estimated 73.6% by three analysts [2] - Average balances of total interest-earning assets were $8.94 billion, surpassing the two-analyst average estimate of $8.69 billion [2] - Total Non-Performing Loans amounted to $30.30 million, lower than the average estimate of $32.21 million from two analysts [2] - Net charge-offs as a percentage of average total loans held for investment were 0.7%, higher than the average estimate of 0.4% [2] - Total Non-Performing Assets were reported at $50.48 million, slightly below the two-analyst average estimate of $51.52 million [2] - Noninterest income was $14.49 million, close to the average estimate of $14.60 million from three analysts [2] - Net interest income reached $77.97 million, exceeding the average estimate of $77.40 million from three analysts [2] Stock Performance - Shares of Amerant Bancorp have returned +3.4% over the past month, contrasting with the Zacks S&P 500 composite's -3% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

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 ...

Core Viewpoint - The market anticipates a year-over-year decline in earnings for Amerant Bancorp Inc. (AMTB) due to lower revenues, with the earnings report expected on April 24, 2024, being crucial for stock price movement [1] Earnings Expectations - The consensus estimate for Amerant Bancorp's quarterly earnings is $0.36 per share, reflecting a year-over-year decrease of 39% [2] - Expected revenues are $91.76 million, down 9.8% from the same quarter last year [2] - The EPS estimate has been revised 5% lower in the last 30 days, indicating a reassessment by analysts [2] Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that the Most Accurate Estimate for Amerant Bancorp is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +2.78% [5] - However, the company holds a Zacks Rank of 4, complicating the prediction of an earnings beat [5][6] Historical Performance - In the last reported quarter, Amerant Bancorp met the expected earnings of $0.46 per share, showing no surprise [7] - Over the past four quarters, the company has beaten consensus EPS estimates twice [7] Market Context - The performance of Amerant Bancorp may not solely depend on earnings results, as other factors can influence stock movement [8] - The company does not appear to be a strong candidate for an earnings beat, suggesting investors should consider additional factors before making decisions [8]

Group 1 - Amerant Bank has partnered with NHL superstar Matthew Tkachuk to promote its new co-branded Florida Panthers debit card through a comprehensive marketing campaign [1][2] - The marketing campaign includes television and online commercials during the NHL playoffs and billboards in Broward County, particularly near the Amerant Bank Arena [1][2] - The partnership aims to enhance community engagement and support for local sports, reflecting Amerant Bank's commitment to South Florida and its expansion into neighboring markets [2][3] Group 2 - Amerant Bank recently launched the "Imagine Tomorrow" campaign, which has increased visibility for the bank in new locations such as Tampa, Broward County, and Downtown Miami [2] - The bank opened a new Las Olas banking center in Fort Lauderdale in March 2024 and plans to open a regional office in Plantation, FL in April 2024, focusing on economic development in Broward County [3] - Amerant Bank is the largest community bank in Florida and has been serving clients for over 40 years, with a presence in South Florida, Tampa, and Houston [4]

CORAL GABLES, FL, March 07, 2024 (GLOBE NEWSWIRE) -- Amerant Bank, the largest community bank headquartered in Florida, today announced a strategic partnership with the Miami Marlins making Amerant Bank the "Hometown Bank" of the team. Amerant Bank is headquartered in Coral Gables and has served the South Florida community for over 40 years. Terms were not disclosed. "We are excited to enter into a multi-year partnership with the Miami Marlins," said Jerry Plush, Chairman and CEO of Amerant Bank. "Amerant h ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 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 Amerant Bancorp Inc. (Exact Name of Registrant as Specified in Its Charter) Florida (State or Other Jurisdict ...

FT. LAUDERDALE, FL, March 05, 2024 (GLOBE NEWSWIRE) -- Amerant Bank, the largest community bank headquartered in Florida, today opened its new banking center on Las Olas Blvd in Ft. Lauderdale, FL, marking another significant step in the bank's strategic expansion across South Florida by expanding its footprint in Broward County. Strategically located at 1200 East Las Olas Blvd., Suite 102, the new banking center occupies 2,000 square feet of prime space, offering a convenient and accessible banking experi ...

TAMPA, Fla., Feb. 01, 2024 (GLOBE NEWSWIRE) -- Amerant Bank, the largest community bank headquartered in Florida, today opened its first banking center in Tampa, FL. Situated in the Westshore Business District, the most central business area in the Tampa Bay area, the branch is strategically located the first floor of the Urban Centre Building at 4830 W Kennedy Blvd. Boasting a spacious 2,700 square feet, this location is optimally positioned amid over 4,000 small and large businesses, as well as highly so ...

Core Insights - Amerant Bank has successfully financed a $120 million loan to Fresco Retail Group for the acquisition of Fresco y Más from Southeastern Grocers Inc. [1][2] - Fresco y Más is a Florida-based grocery chain established in 2016, operating 34 locations across South, Central, and Southwest Florida [1][2] - The acquisition aims to maintain the current operations of all supermarkets and liquor stores under the Fresco y Más brand [3] Company Overview - Amerant Bank is the largest community bank headquartered in Florida, with a presence in South Florida, Tampa, and Houston [4] - The bank has been operational for over 40 years and includes subsidiaries such as Amerant Investments and Amerant Mortgage [4] - In 2023, Amerant Bank was recognized as a Most Loved Workplace® by Best Practice Institute [4]

Financial Data and Key Metrics Changes - In Q4 2023, diluted loss per share was $0.51, primarily due to non-routine items recorded during the period [9] - Net interest margin increased to 3.72% from 3.57% in Q3 2023, reflecting interest collected along with a loan principal recovery [9][16] - Total assets reached a record high of $9.7 billion, up from $9.3 billion in Q3 2023 [10] - Total deposits increased to $7.9 billion, up $326 million from Q3 2023 [12] - Noninterest income was $19.6 million, down from $21.9 million in Q3 2023 [10][32] - Noninterest expense was $109.7 million, up $45.3 million from Q3 2023 [10][33] Business Line Data and Key Metrics Changes - Total loans grew by $132 million, but gross loans held for investments decreased to $6.9 billion from $7.1 billion in Q3 2023 [10] - The company reclassified $401 million of Houston-based multifamily loans as held for sale, recording a non-cash charge of $30 million [6] - The loan portfolio yield was 7.09% in Q4 2023, including a loan recovery; excluding this recovery, the yield was 6.93% [20] Market Data and Key Metrics Changes - Domestic deposits accounted for 69% of total deposits, totaling $5.4 billion, up 6.7% compared to Q3 2023 [13] - International deposits accounted for 31% of total deposits, totaling $2.5 billion, down slightly by 0.6% compared to Q3 2023 [13] Company Strategy and Development Direction - The company aims to focus on execution and profitable growth in 2024, transitioning from a multi-year transformation phase [36] - Plans to improve the ratio of noninterest-bearing to total deposits and enhance digital account opening tools [35] - The company is emphasizing international deposit gathering as a source of funds [13] Management's Comments on Operating Environment and Future Outlook - Management expects annual loan growth of approximately 15% and deposit growth to match loan growth [35] - The net interest margin is projected to be stable at 3.50% to 3.60% in the first half of 2024, with improvements expected in the second half [35] - Management believes the company is positioned for growth and profitability, with a focus on executing their plan [45] Other Important Information - The company recorded a provision for credit losses of $12.5 million in Q4 2023, up from $8 million in Q3 2023 [9][25] - Non-performing assets totaled $54.6 million at the end of Q4 2023, an increase from Q3 2023 [23] Q&A Session Summary Question: Strategy for Texas market after loan sale in Houston - Management indicated that the Houston portfolio was non-core and that they will focus on solid relationships in the remaining portfolio [41] Question: Expense run rate perspective for Q1 - Management expects expenses to be stable or slightly higher, around 67% to 69% efficiency in the first half of the year [42][43] Question: Future charge-offs expectations - Management does not expect similar levels of charge-offs from the New York portfolio in the upcoming quarters [50] Question: Interest rate assumptions for margin guidance - Management expects stable rates in the first half of the year, with potential rate cuts in the second half [60]