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Amerant Bancorp Inc. (NYSE: AMTB) is a renowned bank holding company headquartered in Coral Gables, Florida, operating since 1979. It primarily serves through its main subsidiary, Amerant Bank, N.A., the largest community bank headquartered in Florida. The company offers a comprehensive range of deposit, credit, and wealth management services to individuals and businesses across the United States and internationally.
Amerant provides various banking products, including checking and savings accounts, certificates of deposit, and money market accounts. It also offers a wide array of loan products such as variable and fixed-rate commercial real estate loans, loans secured by owner-occupied properties, working capital loans, asset-based lending, and small business administration loans. Additionally, the company extends consumer loans and overdrafts.
In terms of recent achievements, Amerant has strategically expanded its footprint in South Florida with the opening of a new banking center on Las Olas Blvd in Ft. Lauderdale. This move underlines their commitment to providing relationship-centric banking services. Furthermore, Amerant has entered into strategic partnerships with notable organizations like iCapital for enhanced wealth management offerings and the Miami Marlins, strengthening its community presence.
Financially, Amerant reported net income attributable to the company of $10.6 million for the first quarter of 2024, with total assets amounting to $9.8 billion. The company’s financial stability is further supported by robust non-performing asset management and strategic asset sales, such as the sale of its Houston-based operations to MidFirst Bank, allowing it to focus more on its core markets in Florida.
Amerant’s involvement in community initiatives is significant, highlighted by its “Saves for Vets” program in partnership with the Florida Panthers, which supports veteran-focused nonprofit organizations.
Amerant Bancorp Inc. continues to innovate and expand, ensuring its services meet the evolving needs of its diverse client base while maintaining a strong presence in the communities it serves.
Amerant Bancorp Inc. (NYSE: AMTB) has announced the pricing of its public offering of 7,900,000 shares of Class A voting common stock at $19.00 per share, totaling an aggregate offering amount of $150 million. The company has also granted underwriters a 30-day option to purchase up to an additional 784,210 shares. Stephens Inc. and Piper Sandler & Co. are acting as joint book-running managers, with Keefe, Bruyette & Woods, A Stifel Company, and Raymond James & Associates, Inc. as co-managers.
The offering is expected to close on or about September 27, 2024, subject to customary conditions. Amerant intends to use the net proceeds for general corporate purposes, supporting organic growth, working capital, investments in Amerant Bank, N.A., resolving non-performing loans, and potential balance sheet optimization strategies.
Amerant Bancorp Inc. (NYSE: AMTB) has announced the launch of an underwritten public offering of its Class A voting common stock. The company plans to grant underwriters a 30-day option to purchase additional shares. Stephens Inc. and Piper Sandler & Co. are acting as joint book-running managers for the offering.
The net proceeds will be used for general corporate purposes and to support Amerant's continued organic growth, which may include working capital, investments in Amerant Bank, N.A., resolution of non-performing loans, and potential balance sheet optimization strategies.
The offering is being made through a prospectus supplement and accompanying base prospectus. Amerant has filed a registration statement and preliminary prospectus supplement with the SEC and intends to file a final prospectus supplement.
Amerant Bank has announced a strategic partnership as the Official Bank of Fort Lauderdale United FC (FTL UTD), the only professional women's soccer team in South Florida. This partnership, which includes the designation as a Founding Partner, aligns with Amerant Bank's commitment to empowering women and supporting local talent. The collaboration will feature digital and social media exposure, benefits for local youth soccer programs, and specialized services for players and team personnel.
This move follows Amerant's recent appointment of Averee Dovsek, a top-ranked world long drive golf professional, as their brand ambassador. Amerant Bank has been expanding its presence across South and Central Florida through various sports partnerships, including agreements with the Tampa Bay Rays, Miami Marlins, Miami Heat, Florida Panthers, and naming rights to Amerant Bank Arena.
SOCi, Inc., a leading CoMarketing Cloud provider, has partnered with Amerant Bank, Florida's largest community bank, to enhance its digital marketing efforts. The collaboration, which began in August 2023, focuses on leveraging SOCi's platform to improve Amerant Bank's localized marketing strategies and digital presence.
Key benefits of the partnership include:
- Review management to drive customer engagement and satisfaction
- Local pages optimization for improved online visibility
- Local listings management for branches and ATMs
- Data-driven insights for informed marketing decisions
This strategic alliance aims to support Amerant Bank's expansion in Florida as it approaches the $10 billion asset threshold, with goals to increase brand awareness, expand into new regions, and enhance customer satisfaction.
MidFirst Bank, the largest privately owned bank in the US, has received regulatory approvals to acquire Amerant Bank's Houston banking locations. The acquisition, expected to close on November 8, 2024, will add six locations to MidFirst's footprint and include most of Amerant's Houston loan and deposit relationships. This move accelerates MidFirst's expansion in Texas, enhancing its presence in the growing Houston market. All Amerant Bank employees in Houston are expected to join MidFirst, and the locations will operate under the MidFirst Bank brand. The transaction aligns with MidFirst's strategy to deliver award-winning customer service and invest in local communities.
Amerant Bancorp Inc. (NYSE: AMTB) has announced a cash dividend of $0.09 per share of common stock, payable on August 30, 2024, to shareholders of record as of August 15, 2024. This decision was made by the company's Board of Directors on July 24, 2024.
Amerant Bancorp, headquartered in Coral Gables, Florida, operates through its main subsidiary, Amerant Bank, N.A., and other subsidiaries. The company provides deposit, credit, and wealth management services to individuals and businesses in the U.S. Amerant Bank, the largest community bank headquartered in Florida, has been operating for over 40 years and maintains 25 banking centers across South Florida, Tampa, and the Houston area.
Amerant Bancorp Inc. (NYSE: AMTB) reported Q2 2024 results with net income of $5.0 million, or $0.15 per diluted share, down from $10.6 million in Q1. Key highlights:
- Total assets: $9.7 billion, down 0.7% from Q1
- Gross loans: $7.32 billion, up 4.5%
- Total deposits: $7.82 billion, down 0.8%
- Net Interest Margin: 3.56%, up from 3.51% in Q1
- Provision for credit losses: $19.2 million, up 54.4%
- Non-interest income: $19.4 million, up 34.0%
- Non-interest expense: $73.3 million, up 10.1%
- Efficiency ratio: 74.2%, up from 72.0% in Q1
- ROA: 0.21%, down from 0.44% in Q1
- ROE: 2.68%, down from 5.69% in Q1
The Board declared a quarterly cash dividend of $0.09 per common share.
Amerant Bank (NYSE: AMTB) has been named the Official Bank of the Tampa Bay Rays in a multi-year strategic partnership. This marks Amerant's fourth major sports franchise partnership, following agreements with the Florida Panthers, Miami Heat, and Miami Marlins. The deal includes extensive brand presence at Tropicana Field, gameday broadcast exposure, and various promotional opportunities.
The partnership aligns with Amerant's recent expansion in the Greater Tampa area, including a new branch and regional headquarters. Jerry Plush, Chairman and CEO of Amerant Bank, emphasized the bank's strategy of partnering with respected local organizations. Matt Silverman, President of the Rays, expressed excitement about the opportunities presented by this agreement.
Amerant Bank, the largest community bank headquartered in Florida, has been serving clients for over 40 years and was recently certified as a Most Loved Workplace® for 2024.
Amerant Bank has appointed Jesse Flowers as the new EVP and Palm Beach Market President. Flowers, who has over 20 years of experience in the financial services industry, is known for his focus on relationship banking and client success. His appointment coincides with Amerant's plans to open its third Palm Beach banking center and regional office in Q1 2025. CEO Jerry Plush expressed confidence in Flowers' ability to drive growth and enhance client service in the Palm Beach market. Flowers' previous role was as Regional President for West Palm Beach at SouthState Bank.
Amerant Bancorp (NYSE: AMTB) announced it will release its second-quarter 2024 financial results on July 24, 2024, after market close. The results will be accessible on the company's investor website. Furthermore, a conference call hosted by CEO Jerry Plush and CFO Sharymar Calderón is scheduled for July 25, 2024, at 9:00 AM ET to discuss the quarterly performance. Investors can join via dial-in numbers or access the live webcast through the company's investor relations webpage. A replay will be available for one month.
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