Amerant Bancorp (US:AMTB)2023-10-20 21:05Financial Performance - Net income attributable to the Company was $22.1 million in 3Q23, compared to $7.3 million in 2Q23[8] - Diluted earnings per share (EPS) increased to $0.66 in 3Q23 from $0.22 in 2Q23[8] - Pre-provision net revenue (PPNR) was $36.5 million in 3Q23, a slight decrease from $38.3 million in 2Q23[8] - Total assets decreased by 1.8% to $9.3 billion in 3Q23, compared to $9.47 billion in 2Q23[8] - Net Interest Margin (NIM) decreased to 3.57% in 3Q23, compared to 3.83% in 2Q23[8] Balance Sheet - Total gross loans decreased by 1.0% to $7.14 billion in 3Q23, compared to $7.22 billion in 2Q23[8] - Total deposits decreased slightly by 0.4% to $7.55 billion in 3Q23, compared to $7.58 billion in 2Q23[8] - Core deposits decreased by 4.6% to $5.24 billion in 3Q23, compared to $5.50 billion in 2Q23, including a $292 million reduction in institutional deposits[8] - FHLB advances decreased by 22.7% to $595.0 million in 3Q23, compared to $770.0 million in 2Q23, due to prepayments[8] - Assets under management totaled $2.09 billion, down 2.6%, compared to $2.15 billion in 2Q23[8] Capital Management - The company repurchased 142,888 shares for $2.7 million in 3Q23[8] - Total capital ratio was 12.70%, substantially above the regulatory minimum of 10.00%[10]