Welcome to our dedicated page for Amerant Bancorp news (Ticker: AMTB), a resource for investors and traders seeking the latest updates and insights on Amerant Bancorp stock.
Amerant Bancorp Inc. reports news on its role as a Florida-based bank holding company operating through Amerant Bank, N.A. and Amerant Investments, Inc. Updates commonly cover quarterly financial results, asset quality, credit risk management, loan-portfolio actions, deposit trends, operational efficiency, dividends and share repurchase authorization.
Company releases also describe banking-center expansion in South Florida and Tampa, wealth management and investment services, product strategy across consumer and commercial offerings, and leadership or governance changes tied to the bank’s operating priorities.
Amerant Bank has appointed Caroline Vérot Moore as the new EVP and Houston Market President, effective April 18, 2023. She brings over 20 years of corporate banking experience, having previously served as Houston Market Executive at Fifth Third Bank. Vérot Moore is tasked with overseeing various sectors, including commercial banking and specialty finance in Houston.
CEO Jerry Plush expressed confidence in her leadership abilities to enhance client service and promote growth in the Greater Houston area. Vérot Moore's background includes experience at Wells Fargo and recognition as a Global Leader of Influence. She aims to inspire more women to pursue careers in finance.
Amerant Bank has appointed Juan Esterripa as SEVP, Head of Commercial Banking, effective April 17, 2023. Esterripa, a seasoned banking professional, will oversee commercial banking, commercial real estate, syndications, specialty finance, and treasury management. His leadership aims to enhance business development and drive profitable growth for the bank. Chairman and CEO Jerry Plush expressed confidence in Esterripa's track record and expertise, which have contributed significantly to previous organizations. With a rich background at various financial institutions, Esterripa is expected to align with Amerant’s commitment to innovation and expansion, reflecting the bank’s momentum in the market.
Amerant Bancorp Inc. (NASDAQ: AMTB) has appointed Ashaki Rucker to its Board of Directors, effective April 17, 2023. Rucker, currently Senior Vice President and Head of Human Resources at NBCUniversal Telemundo Enterprises, brings extensive experience in Human Capital Management and has held senior roles in various industries, including financial services and media. Her significant contributions to Diversity, Equity & Inclusion strategies have been recognized in the media industry. Rucker expressed her eagerness to enhance stakeholder value through collaboration with the Board.
Amerant Bank has been awarded the U.S. Small Business Administration (SBA)’s 2023 Export Lender of the Year Award, recognizing its efforts in enhancing access to capital for small businesses in global markets. The bank provided over $20 million in export financing in 2022, with export loans now representing more than half of its commitments. This award highlights the bank's strategic focus on export loan programs and collaboration with local SBA offices to support exporters. The SBA emphasizes that small businesses engaged in international trade experience faster growth, higher wages, and greater economic stability.
Amerant Bancorp Inc. (NASDAQ: AMTB) announced that it will release its first quarter 2023 earnings results on April 20, 2023, after market close. Investors can access the results on the company’s investor relations website. Following the release, a conference call will be held on April 21, 2023, at 9:00 AM ET, hosted by CEO Jerry Plush and CFO Carlos Iafigliola, to discuss financial results. Amerant Bancorp has been a key player in Florida's community banking sector since 1979, operating 23 banking centers and offering deposit, credit, and wealth management services.
Amerant Bank announces the appointment of Baylor Lancaster-Samuel as Chief Investment Officer of Amerant Investments, effective March 30, 2023. With over 20 years of experience in finance, she will lead the investment research team and enhance the company’s investment strategies. Lancaster-Samuel previously served as Fixed Income Portfolio Manager at Amerant since 2021 and has a strong background in credit research at Standard & Poor’s. Her leadership is anticipated to strengthen Amerant's position in the financial industry. She holds an M.B.A. from New York University and is involved in professional organizations.
Amerant Bank has partnered with Miami Dade College (MDC) to enhance students' career opportunities through internship programs. This collaboration includes the Immersive Internship Program, which provides real work experience in data analytics, and the Personal Banking Apprenticeship Program, focusing on developing banking specialists. Five interns and apprentices will be hosted by Amerant as part of its IMPACT initiative aimed at fostering community talent. MDC is recognized as the most diverse institution in the U.S., offering more than 300 degree pathways. Both institutions aim to equip students with essential skills for their future careers.
Amerant Bank, Florida's largest community bank, has achieved an Outstanding rating in Lending, Investment, and Service categories from the Office of the Comptroller of the Currency (OCC) in its CRA evaluation. This consistent performance has been maintained since 2000. Key highlights include:
- $55.3 million in SBA loans and $247.6 million in PPP loans during the evaluation period.
- Leadership in community development lending, showcasing a strong commitment to serving low- and moderate-income neighborhoods.
Amerant is set to expand with new banking centers in South Florida, further enhancing its service capabilities.
Amerant Mortgage, a subsidiary of Amerant Bank, has announced the establishment of a new Midwest Hub in collaboration with F&B Financial Group. This strategic move aims to enhance retail mortgage services in St. Louis and the Midwest region, responding to increasing consumer demand. The partnership is expected to leverage F&B Financial's market expertise and resources, allowing Amerant to expand its footprint. Additionally, Chris Fox of F&B will retain his sales leadership position to further strengthen retail mortgage offerings. This initiative follows Amerant's acquisition of First Mortgage Company in 2021, consolidating its position in the mortgage banking sector.
Amerant Bancorp reported a net income of $18.8 million in Q4 2022, representing $0.55 per diluted share, despite a provision for credit losses of $20.9 million. The full-year net income reached $63.3 million or $1.85 per share. Total assets climbed to $9.1 billion, up 4.44% quarter-over-quarter, and total deposits increased 6.92% to $7.04 billion. The adoption of the CECL accounting standard impacted the allowance for credit losses, raising it to $83.5 million. The board declared a cash dividend of $0.09 per share, payable on February 28, 2023. An earnings call is scheduled for January 20, 2023.