Amerant Bancorp (US:AMTB)2025-10-27 21:40Financial Performance - Net income attributable to Amerant Bancorp Inc. for Q3 2025 was $14.8 million, or $0.35 per diluted share, down from $23.0 million, or $0.55 per diluted share in Q2 2025[2]. - Core net income reached $16,425 thousand, compared to $23,984 thousand in the previous quarter, reflecting a decrease of 31.5%[21]. - For the three months ended September 30, 2025, the net income attributable to Amerant Bancorp Inc. was $14.8 million, compared to $23.0 million in the previous quarter, reflecting a decrease of 35.5%[29]. - Basic earnings per share for the third quarter of 2025 were $0.35, compared to $0.55 in the second quarter of 2025, a decrease of 36.4%[30]. - The total noninterest income for the third quarter of 2025 was $17.3 million, down from $19.8 million in the previous quarter, a decline of 12.6%[29]. - The total noninterest expense for the third quarter of 2025 was $77.8 million, an increase from $74.4 million in the second quarter of 2025, reflecting a rise of 4.8%[29]. Asset and Loan Management - Total assets increased to $10.4 billion, up by $75.5 million, or 0.7%, compared to $10.3 billion in Q2 2025[3]. - Total gross loans decreased to $6.9 billion, down by $247.4 million, or 3.4%, from $7.2 billion[3]. - Total deposits remained stable at $8,300,969 thousand, slightly down from $8,306,544 thousand in the previous quarter[19]. - Loans held for investment decreased to $6,941,792 thousand as of September 30, 2025, down from $7,183,123 thousand as of June 30, 2025, representing a decline of approximately 3.35%[57]. - The average balance of loans decreased to $6,946,370,000 from $7,118,087,000 in the previous quarter, indicating a decline of 2.4%[34]. - Non-performing loans totaled $124,292,000 as of September 30, 2025, compared to $82,485,000 in the previous quarter, indicating an increase of 50.6%[63]. Credit Quality and Provisions - Total non-performing assets rose to $139.9 million, an increase of $42.0 million, or 42.9%, compared to $97.9 million[4]. - Provision for credit losses was $14.6 million, up by $8.5 million, or 140.9%, compared to $6.1 million in the previous quarter[4]. - The allowance for credit losses was $94,918 thousand, an increase from $86,519 thousand in the prior quarter, indicating a rise in provisions[19]. - Non-accrual loans amounted to $122,900,000 as of September 30, 2025, an increase from $81,293,000 in the previous quarter, representing a 51.1% rise[64]. - The total amount of loans categorized as "special mention" was $224,343,000 as of September 30, 2025, compared to $132,759,000 in the previous quarter, indicating a significant increase[67]. Capital and Equity - Stockholders' equity increased to $944,940,000 as of September 30, 2025, up from $924,286,000 in the previous quarter, representing a growth of 1.8%[31]. - The Tier 1 capital ratio improved to 12.28%, up from 11.97% in the previous quarter, indicating stronger capital position[20]. - The tangible common equity ratio improved to 8.87% from 8.73% in the previous quarter, showing a positive trend in capital adequacy[31]. Operational Efficiency - The efficiency ratio was 69.84%, compared to 67.48% in the previous quarter[4]. - The efficiency ratio for the quarter was 69.84%, compared to 67.48% in the previous quarter, indicating a decline in operational efficiency[20]. - The efficiency ratio for the third quarter of 2025 was 69.84%, compared to 67.48% in the previous quarter, indicating a deterioration in operational efficiency[30]. Dividends and Share Buybacks - A cash dividend of $0.09 per share was declared, payable on November 28, 2025[5]. - The company plans to resume share buybacks and implement a new series of expense reductions to improve results[3]. - The company repurchased 487,657 shares of Class A common stock at an average price of $20.51 per share, totaling approximately $10.0 million during the third quarter[23].