Amerant Bancorp (US:AMTB)2026-01-22 22:01Financial Performance - Net income attributable to Amerant was $2.7 million in Q4 2025, down from $14.8 million in Q3 2025, with a full-year net income of $52.4 million compared to a net loss of $15.8 million in 2024[1][2] - Net income attributable to Amerant Bancorp Inc. for the three months ended December 31, 2025, was $2,701,000, a decrease from $14,756,000 in the previous quarter[28] - Core net income for the same period was $21,670,000, compared to $16,425,000 in the prior quarter, reflecting a 32.5% increase[28] - Basic earnings per common share for the three months ended December 31, 2025, were $0.07, down from $0.35 in the previous quarter[21] - Core basic earnings per common share increased to $0.53 for the three months ended December 31, 2025, from $0.39 in the previous quarter, a rise of 36.1%[23] Asset and Loan Management - Total assets decreased by $633.2 million, or 6.1%, to $9.8 billion compared to the previous quarter[3] - Total gross loans were $6.7 billion, a decrease of $244.6 million, or 3.5%, from $6.9 billion[3] - Total assets as of December 31, 2025, were $9,777,018,000, a decrease from $10,410,199,000 as of September 30, 2025[21] - Total gross loans decreased to $6,697,235,000 as of December 31, 2025, from $6,941,792,000 as of September 30, 2025, representing a decline of approximately 3.5%[21] - Loans held for investment decreased to $6,613,391 as of December 31, 2025, down from $6,941,792 as of September 30, 2025, reflecting a reduction of about 4.7%[63] Deposits and Funding - Total deposits fell by $514.0 million, or 6.2%, to $7.8 billion compared to $8.3 billion[4] - Core deposits decreased by $412.1 million, or 6.6%, to $5.8 billion compared to $6.2 billion[4] - Total deposits as of December 31, 2025, were $7,786,934, down from $8,300,969 as of September 30, 2025, indicating a decrease of approximately 6.2%[60] - Domestic deposits were $5.17 billion, a decrease from $5.73 billion in the prior quarter, representing a 9.8% decline[77] - Foreign deposits increased to $2.62 billion, up from $2.57 billion in the previous quarter, a growth of 2.0%[77] Non-Performing Assets - Total non-performing assets increased by $47.0 million, or 33.6%, to $186.9 million compared to $139.9 million[4] - Total non-performing loans reached $171.4 million, compared to $124.3 million in the prior quarter, marking a 37.9% increase[69] - Non-accrual loans totaled $168.3 million, up from $122.9 million in the previous quarter, reflecting a 36.9% increase[69] - The ratio of non-performing loans to total loans held for investment was approximately 41.8% as of December 31, 2025[73] Income and Expenses - Non-interest income rose by $4.7 million, or 27.3%, to $22.0 million compared to $17.3 million in the previous quarter[4] - Total noninterest income for Q4 2025 was $22.019 million, an increase from $17.291 million in Q3 2025[27] - Total noninterest expenses for Q4 2025 were $106.772 million, up from $77.835 million in Q3 2025[27] - The efficiency ratio was 95.19% in Q4 2025, up from 69.84% in Q4 2024[6] - The company reported restructuring costs related to cost reduction initiatives aimed at improving the cost structure and de-risking the loan portfolio[31] Capital and Equity - Stockholders' book value per common share increased to $23.13 as of December 31, 2025, from $22.90 as of September 30, 2025[21] - The total stockholders' equity as of December 31, 2025, was $938,802, slightly down from $944,940 as of September 30, 2025, a decrease of about 0.2%[60] - Tangible common equity ratio increased to 9.39% from 8.87% in the previous quarter[30] - The total capital ratio improved to 14.10% as of December 31, 2025, compared to 13.90% in the previous quarter[22] Interest Income and Margin - Net interest income for the three months ended December 31, 2025, was $90,150,000, compared to $94,152,000 for the previous quarter, reflecting a decrease of about 4.3%[21] - The net interest margin was 3.78%, down from 3.92% in the previous quarter[4] - The average interest rate spread for the three months ended December 31, 2025, was 3.09%[36] - The net interest income for the year ended December 31, 2025, was $360,685 thousand, compared to $325,957 thousand for the previous year, reflecting an increase of 10.6%[39] Other Financial Metrics - The provision for credit losses was $3,490,000 for the three months ended December 31, 2025, significantly lower than $14,600,000 in the previous quarter[21] - The allowance for credit losses was $79,276 as of December 31, 2025, compared to $94,918 as of September 30, 2025, showing a reduction of about 16.6%[60] - The company reported a total of $15.5 million in other real estate owned (OREO) as of December 31, 2025, consistent with the previous quarter[69] - The company recognized a loss of $1.1 million on the sale of loans associated with its white-label equipment finance solution during the three months ended December 31, 2025[10]