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]

amerantbank.com Fourth Quarter Earnings Important Notices and Disclaimers Forward-Looking Statements This presentation contains “forward-looking statements” including statements with respect to the Company’s objectives, expectations and intentions and other statements that are not historical facts. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,” “will,” “ ...

For the quarter ended December 2023, Amerant Bancorp Inc. (AMTB) reported revenue of $101.29 million, down 4.9% over the same period last year. EPS came in at $0.46, compared to $0.40 in the year-ago quarter.The reported revenue represents a surprise of +10.67% over the Zacks Consensus Estimate of $91.52 million. With the consensus EPS estimate being $0.46, the company has not delivered EPS surprise.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how t ...

Core Insights - Analysts forecast that Amerant Bancorp Inc. (AMTB) will report quarterly earnings of $0.46 per share, reflecting a year-over-year increase of 15% [1] - Revenue is anticipated to be $91.52 million, showing a decline of 14.1% compared to the same quarter last year [1] Earnings Estimates - The consensus EPS estimate has remained unchanged over the last 30 days, indicating stability in analysts' projections [1] - Revisions to earnings projections are crucial for predicting investor behavior and stock price performance [1] Key Financial Metrics - Analysts estimate that the 'Net interest margin' will reach 3.5%, down from 4% a year ago [2] - The 'Efficiency Ratio' is expected to be 66.4%, compared to 58.4% in the previous year [2] - 'Average Interest Earning Assets' are projected at $8.84 billion, an increase from $8.24 billion year-over-year [2] Non-Performing Loans and Income - 'Total Non-Performing Loans' are projected to be $33.89 million, down from $37.60 million in the same quarter last year [3] - 'Total Non-Performing Assets' are estimated at $51.73 million, compared to $37.60 million a year ago [3] - 'Noninterest income' is forecasted to be $15.17 million, down from $24.37 million in the same quarter last year [3] - 'Net interest income' is expected to be $77.02 million, compared to $82.18 million in the same quarter last year [3] Stock Performance - Shares of Amerant Bancorp Inc. have decreased by 6.3% over the past month, contrasting with a 1.6% increase in the Zacks S&P 500 composite [3] - The company holds a Zacks Rank 4 (Sell), indicating expectations of underperformance relative to the overall market [3]

CORAL GABLES, Fla.--(BUSINESS WIRE)--Amerant Bancorp Inc. (NYSE: AMTB) (the “Company” or “Amerant”) today announced that, on January 17, 2024, the Company’s Board of Directors declared a cash dividend of $0.09 per share of Amerant common stock. The dividend is payable on February 29, 2024, to shareholders of record at the close of business on February 14, 2024. About Amerant Bancorp Inc. (NYSE: AMTB) Amerant Bancorp Inc. is a bank holding company headquartered in Coral Gables, Florida since 1979. The Comp ...

CORAL GABLES, Fla.--(BUSINESS WIRE)--Amerant Bancorp Inc. (NYSE: AMTB) (“Amerant” or the “Company”), today announced it will release fourth quarter 2023 earnings results on Wednesday, January 24, 2024 after the market closes. Once released, investors may access Amerant’s earnings results at https://investor.amerantbank.com by choosing “Financial Results” under the “Financials Info” heading. On Thursday, January 25, 2024, Jerry Plush, Chairman and Chief Executive Officer, and Sharymar Calderón, Executive Vi ...

Financial Position - Total assets increased to $9,345,700 thousand as of September 30, 2023, compared to $9,127,804 thousand at December 31, 2022, reflecting a growth of 2.4%[6] - Total deposits reached $7,546,912 thousand, a rise of 7.1% from $7,044,199 thousand at the end of 2022[6] - The total liabilities increased to $8,625,913 thousand, up from $8,422,078 thousand, representing a growth of 2.4%[6] - The total stockholders' equity increased to $719,787 thousand from $705,726 thousand, reflecting a growth of 2.3%[6] - The company reported a decrease in accumulated other comprehensive loss to $(105,634) thousand from $(80,635) thousand[6] Loans and Credit Quality - Loans held for investment, gross, rose to $7,073,387 thousand, up from $6,857,194 thousand, indicating an increase of 3.1%[6] - The allowance for credit losses increased to $98,773 thousand from $83,500 thousand, reflecting a rise of 18.3%[6] - The total past due loans amounted to $46.5 million as of September 30, 2023, compared to $31.1 million as of December 31, 2022, indicating an increase in delinquency[101] - Nonaccrual loans totaled $32,691 thousand as of September 30, 2023, with $3,754 thousand related to loans with no related allowance[107] - The company believes the ACL is sufficient to absorb expected credit losses in the loan portfolio in accordance with GAAP[132] Income and Expenses - Total interest income for Q3 2023 was $139,383,000, a 56.4% increase from $89,137,000 in Q3 2022[8] - Net interest income after provision for credit losses was $70,577,000 for Q3 2023, compared to $62,583,000 in Q3 2022, reflecting a 24.5% year-over-year growth[8] - Total noninterest expenses increased to $64,420,000 in Q3 2023 from $56,113,000 in Q3 2022, representing a 14.5% rise[8] - Net income attributable to Amerant Bancorp Inc. for Q3 2023 was $22,119,000, a 26.5% increase from $17,534,000 in Q3 2022[8] - Basic earnings per share for Q3 2023 was $0.66, compared to $0.52 in Q3 2022, reflecting a 26.9% increase[11] Shareholder Activities - The company repurchased 142,188 shares of Class A common stock during the third quarter, totaling $2,708,000[14] - Dividends paid in the third quarter amounted to $3,015,000, slightly down from $3,023,000 in the previous quarter[14] - The Company declared a cash dividend of $0.09 per share on October 18, 2023, payable on November 30, 2023, totaling $3.0 million[38] Securities and Investments - The company held $6.0 million in US Treasury Bills with an average yield of 4.65% as of September 30, 2023[62] - The total debt securities available for sale as of September 30, 2023, amounted to $1,033,797 thousand, down from $1,169,578 thousand as of December 31, 2022[67] - The company reported unrealized losses of $10.3 million on U.S. government agency debt securities as of September 30, 2023, compared to unrealized losses of $24.8 million as of December 31, 2022[88] - The company does not intend to sell its investments in corporate debt securities, indicating a long-term holding strategy despite current unrealized losses[80] Deposits and Funding - Time deposits in denominations of $100,000 or more increased to approximately $1.3 billion at September 30, 2023, up from $928 million at December 31, 2022, reflecting a growth of about 40%[167] - The total amount of brokered time deposits rose to $723 million at September 30, 2023, from $609 million at December 31, 2022[167] - As of September 30, 2023, the company had total advances from the FHLB amounting to $595 million, down from $906.486 million at December 31, 2022, representing a decrease of approximately 34.3%[173] Risk Management - The company’s internal risk rating system categorizes loans on a scale from 1 (worst credit quality) to 10 (best credit quality) to monitor potential loss risks[133] - The company has maintained a focus on credit risk management, with a notable portion of loans classified as pass[151] - The company recorded a provision for credit losses totaling $3,000 thousand for the three months ended September 30, 2023, compared to a reversal of $7,314 thousand in the prior year[57] Acquisitions and Corporate Actions - The Company recorded preliminary goodwill of $1.0 million from the F&B Acquisition, representing the excess of the purchase price over the estimated fair value of acquired assets[39] - The Company has not completed its determination of the final allocation of the purchase price for the F&B Acquisition, expected to be finalized by December 31, 2023[39] - The company acquired exclusive naming rights to an arena in Broward County, Florida, recorded as an intangible asset[41]

Financial 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]

Financial Data and Key Metrics Changes - Net income attributable to the company was $22.1 million, a significant increase from $7.3 million in Q2 2023, primarily driven by lower provision for credit losses [7] - Net interest margin decreased to 3.57% from 3.83% in the previous quarter, influenced by higher funding costs and lower loan originations [7][29] - Total assets decreased by $174 million compared to Q2 2023, with gross loans at $7.1 billion, down from $7.2 billion [8] - Total deposits were $7.5 billion, relatively flat compared to $7.6 billion in the previous quarter [8] Business Line Data and Key Metrics Changes - Commercial loans decreased by $124 million to $1.45 billion, while single-family residential loans increased by $58 million to $1.39 billion [20] - Consumer loans decreased by $64 million or 13% quarter-over-quarter, reflecting a focus on organic growth [20] - Non-interest bearing deposits increased to 18% of total deposits, up from 17% in the previous quarter, indicating a focus on building demand deposit accounts [15] Market Data and Key Metrics Changes - Domestic deposits accounted for 67% of total deposits, totaling $5.1 billion, down 1% from the previous quarter [12] - International deposits increased by 0.5% to $2.5 billion, reflecting a strategy to diversify funding sources [12][13] - The company reported a decrease in higher-cost institutional deposits by $292 million, partially offset by organic deposit growth of $208 million [11] Company Strategy and Development Direction - The company is focused on improving balance sheet composition and prioritizing organic deposit growth to reduce reliance on higher-cost institutional deposits [4] - A core conversion to a new system is scheduled for November, aimed at enhancing operational efficiency and cybersecurity [39] - The company plans to continue expanding its physical presence with new branches and regional headquarters in key markets [40][43] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in returning to growth mode in Q4 2023, with strong loan and deposit pipelines [6] - The company anticipates continued pressure on net interest margin due to competitive deposit rates but expects to stabilize in 2024 [29][56] - Management highlighted the importance of maintaining a balance between growth and capital management, particularly in light of current market conditions [53] Other Important Information - The company paid a quarterly dividend of $0.09 per share and repurchased 260,000 shares for $5 million year-to-date [9] - The allowance for credit losses decreased to $99 million, with a provision for credit losses of $8 million recorded in Q3 [23] - Non-interest income decreased by 18% to $22 million, primarily due to lower gains on early extinguishment of FHLB advances [32] Q&A Session Summary Question: Thoughts on near-term expenses and future profitability - Management acknowledged that expenses will be elevated due to the parallel running of old and new systems during the conversion, but expects to see efficiencies in 2024 [46][48] Question: Expectations for loan yields and net interest margin - Management indicated that loan yields may have peaked, with expectations for a flat trajectory moving forward, influenced by competitive pressures on deposit costs [56][59] Question: Credit costs stabilization and charge-off expectations - Management expressed confidence in stabilizing credit costs, with a focus on managing charge-offs effectively [67]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 1 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 June 30, 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 Bancorp Inc. (Exact name of registrant as specified in its charter) Florida 65-0032379 (St ...