Financial Performance - Net income attributable to the Company for Q2 2024 was $5.0 million, or $0.15 per diluted share, down from $10.6 million, or $0.31 per diluted share in Q1 2024[1]. - Non-interest income rose to $19.4 million, an increase of $4.9 million, or 34.0%, from $14.5 million in Q1 2024[5]. - Net income attributable to Amerant Bancorp Inc. was $4,963,000 for June 30, 2024, down from $10,568,000 in March 31, 2024[20]. - Core net income for June 30, 2024, was $9,307,000, down from $10,730,000 in the previous quarter[22]. - Basic earnings per common share decreased to $0.15 for June 30, 2024, compared to $0.32 for March 31, 2024[20]. Loan and Deposit Trends - Total gross loans increased to $7.32 billion, up $316.5 million, or 4.5%, compared to $7.01 billion in Q1 2024[3]. - Total deposits decreased to $7.82 billion, down $62.2 million, or 0.8%, compared to $7.88 billion in Q1 2024[3]. - Total deposits as of June 30, 2024, amounted to $7,816,011, a decrease from $7,878,243 on March 31, 2024[55]. - Non-interest bearing demand deposits increased to $1,465,140 thousand as of June 30, 2024, up from $1,397,331 thousand in March 31, 2024, reflecting a growth of about 4.9%[42]. Credit Quality and Loss Provisions - Provision for credit losses was $19.2 million, up $6.8 million, or 54.4%, compared to $12.4 million in Q1 2024[5]. - Total non-performing assets increased to $121.1 million, up $70.6 million, or 139.9%, compared to $50.5 million in Q1 2024[4]. - The allowance for credit losses was $94,400 thousand as of June 30, 2024, compared to $96,050 thousand in March 31, 2024, indicating a reduction of approximately 1.7%[42]. - Non-accrual loans totaled $97.05 million as of June 30, 2024, significantly up from $28.24 million in the previous quarter, marking a 243.5% increase[51]. Efficiency and Ratios - The efficiency ratio was 74.2%, compared to 72.0% in Q1 2024[5]. - The net interest margin (NIM) improved to 3.56% for June 30, 2024, from 3.51% in March 31, 2024[21]. - The total capital ratio decreased to 12.00% for June 30, 2024, from 12.49% in March 31, 2024[21]. - The efficiency ratio worsened to 74.21% for June 30, 2024, compared to 72.03% in March 31, 2024[21]. Asset Management - Assets Under Management and custody totaled $2.45 billion, up $94.2 million, or 4.0%, from $2.36 billion in Q1 2024[4]. - Total assets decreased to $9,747,738,000 as of June 30, 2024, from $9,817,772,000 on March 31, 2024[26]. - Stockholders' equity as of June 30, 2024, is $734,342,000, a slight decrease from $738,085,000 on March 31, 2024[26]. Shareholder Returns - The Company's Board of Directors declared a cash dividend of $0.09 per share of common stock[5]. - Cash dividends declared were $0.09 per share, with an aggregate payment of $3.0 million per quarter[22]. - The company repurchased 200,652 shares of Class A common stock at an average price of $22.17 per share, totaling approximately $4.4 million in the second quarter of 2024[22]. Strategic Initiatives - The company continues to focus on market expansion and new product development as part of its strategic initiatives[57]. - The company completed a restructuring of its bank-owned life insurance program in the fourth quarter of 2023, incurring additional expenses of $4.6 million[27].

Wall Street expects a year-over-year increase in earnings on lower revenues when Amerant Bancorp Inc. (AMTB) reports results for the quarter ended June 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 2 ...

TAMPA, Fl, July 16, 2024 (GLOBE NEWSWIRE) -- Amerant Bank, Florida's bank of choice with a growing presence across the Greater Tampa area, today announced a multi-year strategic partnership with the Tampa Bay Rays making Amerant Bank the "Official Bank" of the team. This is the fourth major sports franchise that has partnered with Amerant – the Florida Panthers, the Miami Heat, the Miami Marlins, and now the Rays. Amerant Bank is headquartered in Coral Gables and has served the South Florida community for o ...

PALM BEACH, Fl, July 01, 2024 (GLOBE NEWSWIRE) -- Amerant Bank, Florida's bank of choice with a growing presence across South Florida, has named Jesse Flowers as EVP, Palm Beach Market President. Flowers, an integral part of the financial services industry in the Palm Beach market, brings over two decades of experience in banking, specializing in servicing clients seeking a true and authentic relationship with their bank. "We are excited to welcome Jesse as Amerant's new market president for Palm Beach Coun ...

PALM BEACH, Fl, July 01, 2024 (GLOBE NEWSWIRE) -- Amerant Bank, Florida’s bank of choice with a growing presence across South Florida, has named Jesse Flowers as EVP, Palm Beach Market President. Flowers, an integral part of the financial services industry in the Palm Beach market, brings over two decades of experience in banking, specializing in servicing clients seeking a true and authentic relationship with their bank. “We are excited to welcome Jesse as Amerant’s new market president for Palm Beach Coun ...

TAMPA, Fl, June 17, 2024 (GLOBE NEWSWIRE) -- Amerant Bank, Florida's bank of choice with a growing presence across the Greater Tampa area, has named industry veteran, Mike Nursey, as EVP, Central Florida Market President. Nursey will be responsible for the strategic execution of Amerant Bank's growth strategy in Hillsborough, Pinellas counties as well as other key markets throughout Central Florida. "We are delighted to welcome Mike to the Amerant Bank team. His expertise in leading high-performing teams a ...

TAMPA, Fl, June 17, 2024 (GLOBE NEWSWIRE) -- Amerant Bank, Florida’s bank of choice with a growing presence across the Greater Tampa area, has named industry veteran, Mike Nursey, as EVP, Central Florida Market President. Nursey will be responsible for the strategic execution of Amerant Bank’s growth strategy in Hillsborough, Pinellas counties as well as other key markets throughout Central Florida. “We are delighted to welcome Mike to the Amerant Bank team. His expertise in leading high-performing teams a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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 March 31, 2024 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 (Sta ...

Amerant Bancorp Inc. (NYSE:AMTB) Q1 2024 Earnings Conference Call April 25, 2024 9:00 AM ET Company Participants Laura Rossi - Head of Investor Relations Jerry Plush - Chairman and Chief Executive Officer Sharymar Calderon - Executive Vice President and Chief Financial Officer Conference Call Participants Tim Mitchell - Raymond James Feddie Strickland - Janney Montgomery Scott Russell Gunther – Stephens Operator Greetings. Welcome to the Amerant Bancorp First Quarter 2024 Earnings Conference Call. At this t ...

Amerant Bancorp Inc. (AMTB) reported $92.46 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 9.1%. EPS of $0.32 for the same period compares to $0.59 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $91.76 million, representing a surprise of +0.76%. The company delivered an EPS surprise of -11.11%, with the consensus EPS estimate being $0.36.While investors scrutinize revenue and earnings changes year-over-year and how they compare with ...