Financial Data and Key Metrics Changes - Diluted income per share for Q1 2024 was $0.31, an improvement over the prior quarter due to the impact of non-routine items in Q4 [10] - Net interest margin decreased to 3.51% in Q1 from 3.72% in Q4, influenced by the timing of the Houston multifamily portfolio sale and repayment of institutional deposits [10][12] - Total assets reached a record high of $9.82 billion, slightly up from $9.72 billion in the prior period [11] - Total deposits decreased slightly by $16.6 million to $7.88 billion compared to $7.89 billion in Q4 [11] - Total gross loans decreased by $258.5 million to $7 billion, down from $7.26 billion in Q4 [11] Business Line Data and Key Metrics Changes - Total loans decreased by $258.5 million due to the sale of a $401 million multifamily loan portfolio in Houston, but there was strong organic loan growth of $142.5 million [7] - Organic deposit growth was $331.8 million during Q1, offsetting planned reductions in institutional and broker deposits [7] - Noninterest income was $14.5 million, down $5.1 million from $19.6 million in Q4, primarily due to the absence of gains on early extinguishment of FHLB advances [35] - Noninterest expense was $66.6 million, down $43.1 million from $109.7 million in Q4, driven by the absence of non-routine items [36] Market Data and Key Metrics Changes - Domestic deposits accounted for 67% of total deposits, totaling $5.3 billion, down 2.6% compared to the prior quarter [14] - International deposits, which account for 33% of total deposits, totaled $2.6 billion, up 5.1% compared to the previous quarter [14] - The loan-to-deposit ratio temporarily decreased to 88.9% due to the Houston loan sale, expected to migrate closer to the target of 95% as loan demand increases [13] Company Strategy and Development Direction - The company is focusing on growing its Florida franchise and has exited the Houston market with the sale of its franchise there [5] - Plans include opening new banking centers in Greater Tampa and Miami, and enhancing visibility through partnerships [39] - The company aims to maintain a CET1 ratio around 10% and is considering capital deployment strategies including buybacks and growth funding [44] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in organic growth and expects loan production to increase as new hires begin contributing [46] - The company anticipates stable net interest margins in the upcoming quarters, with expectations of higher yielding loan production [32] - Management is monitoring credit quality closely, with expectations for charge-offs to decrease moving forward [50] Other Important Information - The allowance for credit losses at the end of Q1 was $96.1 million, an increase of 0.6% from the previous quarter [24] - The company opened new regional headquarters and banking centers in Florida to support growth efforts [8][9] Q&A Session Summary Question: Can you provide more details on the special mention loans and the covenant breaches? - Management indicated that some downgrades were related to financial metrics and leverage, but overall, they are not seeing pervasive issues [42] Question: How will the capital from the Houston sale be deployed? - Management plans to maintain a CET1 ratio around 10% and will consider buybacks and growth funding as part of capital deployment [44] Question: What are the expectations for loan growth moving forward? - Management expects loan growth to pick up throughout the year, with a target of 15% annualized growth [46] Question: Can you clarify the charge-offs related to the consumer book? - Charge-offs included $8.6 million related to indirect consumer loans, with expectations for lower future charge-offs [50] Question: What is the expected impact on margins from the Houston exit? - Management anticipates some improvement in net interest margin post-transaction, despite temporary losses in interest income [54]

Core Insights - Amerant Bancorp Inc. reported revenue of $92.46 million for Q1 2024, a year-over-year decline of 9.1% and an EPS of $0.32 compared to $0.59 a year ago [1] - The revenue exceeded the Zacks Consensus Estimate of $91.76 million by 0.76%, while the EPS fell short of the consensus estimate of $0.36 by 11.11% [1] Financial Metrics - Net interest margin was reported at 3.5%, slightly below the average estimate of 3.6% from three analysts [2] - Efficiency Ratio stood at 72%, better than the estimated 73.6% by three analysts [2] - Average balances of total interest-earning assets were $8.94 billion, surpassing the two-analyst average estimate of $8.69 billion [2] - Total Non-Performing Loans amounted to $30.30 million, lower than the average estimate of $32.21 million from two analysts [2] - Net charge-offs as a percentage of average total loans held for investment were 0.7%, higher than the average estimate of 0.4% [2] - Total Non-Performing Assets were reported at $50.48 million, slightly below the two-analyst average estimate of $51.52 million [2] - Noninterest income was $14.49 million, close to the average estimate of $14.60 million from three analysts [2] - Net interest income reached $77.97 million, exceeding the average estimate of $77.40 million from three analysts [2] Stock Performance - Shares of Amerant Bancorp have returned +3.4% over the past month, contrasting with the Zacks S&P 500 composite's -3% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

CONTACTS: Investors Laura Rossi InvestorRelations@amerantbank.com (305) 460-8728 Media Alexis Dominguez MediaRelations@amerantbank.com (305) 441-5541 AMERANT REPORTS FIRST QUARTER 2024 RESULTS Board of Directors Declares Quarterly Cash Dividend of $0.09 per Common Share CORAL GABLES, FLORIDA, April 24, 2024. Amerant Bancorp Inc. (NYSE: AMTB) (the "Company" or "Amerant") today reported net income attributable to the Company of $10.6 million in the first quarter of 2024, or $0.31 per diluted share, compared t ...

Core Viewpoint - The market anticipates a year-over-year decline in earnings for Amerant Bancorp Inc. (AMTB) due to lower revenues, with the earnings report expected on April 24, 2024, being crucial for stock price movement [1] Earnings Expectations - The consensus estimate for Amerant Bancorp's quarterly earnings is $0.36 per share, reflecting a year-over-year decrease of 39% [2] - Expected revenues are $91.76 million, down 9.8% from the same quarter last year [2] - The EPS estimate has been revised 5% lower in the last 30 days, indicating a reassessment by analysts [2] Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that the Most Accurate Estimate for Amerant Bancorp is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +2.78% [5] - However, the company holds a Zacks Rank of 4, complicating the prediction of an earnings beat [5][6] Historical Performance - In the last reported quarter, Amerant Bancorp met the expected earnings of $0.46 per share, showing no surprise [7] - Over the past four quarters, the company has beaten consensus EPS estimates twice [7] Market Context - The performance of Amerant Bancorp may not solely depend on earnings results, as other factors can influence stock movement [8] - The company does not appear to be a strong candidate for an earnings beat, suggesting investors should consider additional factors before making decisions [8]

Group 1 - Amerant Bank has partnered with NHL superstar Matthew Tkachuk to promote its new co-branded Florida Panthers debit card through a comprehensive marketing campaign [1][2] - The marketing campaign includes television and online commercials during the NHL playoffs and billboards in Broward County, particularly near the Amerant Bank Arena [1][2] - The partnership aims to enhance community engagement and support for local sports, reflecting Amerant Bank's commitment to South Florida and its expansion into neighboring markets [2][3] Group 2 - Amerant Bank recently launched the "Imagine Tomorrow" campaign, which has increased visibility for the bank in new locations such as Tampa, Broward County, and Downtown Miami [2] - The bank opened a new Las Olas banking center in Fort Lauderdale in March 2024 and plans to open a regional office in Plantation, FL in April 2024, focusing on economic development in Broward County [3] - Amerant Bank is the largest community bank in Florida and has been serving clients for over 40 years, with a presence in South Florida, Tampa, and Houston [4]

CORAL GABLES, FL, March 07, 2024 (GLOBE NEWSWIRE) -- Amerant Bank, the largest community bank headquartered in Florida, today announced a strategic partnership with the Miami Marlins making Amerant Bank the "Hometown Bank" of the team. Amerant Bank is headquartered in Coral Gables and has served the South Florida community for over 40 years. Terms were not disclosed. "We are excited to enter into a multi-year partnership with the Miami Marlins," said Jerry Plush, Chairman and CEO of Amerant Bank. "Amerant h ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 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 Amerant Bancorp Inc. (Exact Name of Registrant as Specified in Its Charter) Florida (State or Other Jurisdict ...

Core Insights - Amerant Bank has opened a new banking center on Las Olas Blvd in Ft. Lauderdale, marking a strategic expansion in South Florida [1][2] - The new center occupies 2,000 square feet and aims to provide a customer-focused banking experience [1][2] - Amerant is also set to open a regional office in Broward County, contributing to local economic development [3] Company Expansion - The Las Olas banking center is Amerant's second location in Ft. Lauderdale, emphasizing its commitment to accessibility for a broader customer base [2] - The new center will offer personalized banking solutions, private client services, and commercial banking options [2] - Amerant has been actively seeking to expand its presence in key markets across South Florida, including strategic partnerships with local sports teams [3] Company Background - Amerant Bancorp Inc. is headquartered in Coral Gables, Florida, and has been operating since 1979 [4] - The company is the largest community bank in Florida and provides a range of financial services to individuals and businesses [4]

TAMPA, Fla., Feb. 01, 2024 (GLOBE NEWSWIRE) -- Amerant Bank, the largest community bank headquartered in Florida, today opened its first banking center in Tampa, FL. Situated in the Westshore Business District, the most central business area in the Tampa Bay area, the branch is strategically located the first floor of the Urban Centre Building at 4830 W Kennedy Blvd. Boasting a spacious 2,700 square feet, this location is optimally positioned amid over 4,000 small and large businesses, as well as highly so ...

Core Insights - Amerant Bank has successfully financed a $120 million loan to Fresco Retail Group for the acquisition of Fresco y Más from Southeastern Grocers Inc. [1][2] - Fresco y Más is a Florida-based grocery chain established in 2016, operating 34 locations across South, Central, and Southwest Florida [1][2] - The acquisition aims to maintain the current operations of all supermarkets and liquor stores under the Fresco y Más brand [3] Company Overview - Amerant Bank is the largest community bank headquartered in Florida, with a presence in South Florida, Tampa, and Houston [4] - The bank has been operational for over 40 years and includes subsidiaries such as Amerant Investments and Amerant Mortgage [4] - In 2023, Amerant Bank was recognized as a Most Loved Workplace® by Best Practice Institute [4]