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Company Overview
Amerant Bancorp Inc (AMTB) is a diversified bank holding company committed to providing extensive banking services and products to individuals, businesses, and select international clients. As a key player in the financial services sector, Amerant Bancorp Inc operates through its primary banking subsidiary, delivering a comprehensive array of offerings that include personal and business deposit accounts, an assortment of loans, as well as wealth and trust management services. With an emphasis on convenience and security, the bank utilizes traditional branch networks alongside modern digital platforms including secure websites, mobile applications, and telephone banking.
Main Banking Solutions
The company excels in offering basic banking products such as checking and savings accounts, money market accounts, and certificates of deposit that cater to diverse financial needs. These products are designed to deliver accessible and flexible solutions for everyday banking requirements, ensuring customers have seamless access to fundamental financial tools. By integrating digital banking channels with its established physical presence, Amerant Bancorp Inc enhances convenience while maintaining high standards of customer security and service quality.
Loan and Credit Offerings
Amerant Bancorp Inc has a robust loan portfolio structured to meet various financing needs. Its loan products span commercial real estate loans, loans secured by owner-occupied properties, and consumer loans including overdraft and revolving credit options. The bank also provides specialized lending solutions such as working capital loans and asset-based lending, which support both small businesses and larger commercial enterprises. By offering participations in shared national credits, purchased receivables, and loans to financial institutions, the company establishes a diverse revenue model that addresses varying credit requirements in the market.
Wealth Management and Investment Services
In addition to traditional banking functions, Amerant Bancorp Inc extends its expertise into the realm of wealth management and investment advisory. Investors and high-net-worth individuals benefit from sophisticated brokerage services and fiduciary advice, which are tailored to meet complex financial goals and legacy planning. The bank’s advisory services are delivered by industry professionals who offer insights into global capital markets, ensuring that clients are well-informed on asset allocation and diversified investment strategies. These services not only enhance the client relationship but also demonstrate the company’s commitment to comprehensive financial planning.
Trust, Estate Planning, and Fiduciary Services
A critical component of Amerant Bancorp Inc’s service suite is its trust and estate planning products. These solutions are designed to provide long-term financial security through professional fiduciary management. Clients receive guidance that blends legal, tax, and financial expertise, ensuring a strategic approach to wealth conservation and succession planning. This multifaceted approach underscores the bank's dedication to serving clients across the full spectrum of their financial lifecycle.
Digital and Traditional Banking Integration
The implementation of both traditional and digital banking platforms is essential to Amerant Bancorp Inc’s business model. The company leverages secure digital channels to extend its reach, providing customers with real-time account access and advanced online services. Meanwhile, its network of physical branches and ATMs helps maintain community trust and personalized customer interaction. This dual model enables the bank to adapt to evolving consumer preferences, striking a balance between innovation and the reliability of conventional banking practices.
Competitive Position and Industry Context
Within the fiercely competitive banking industry, Amerant Bancorp Inc distinguishes itself by offering a balanced portfolio of products and services that meet both everyday and specialized financial requirements. The company’s agility in adapting to market demands, combined with its comprehensive suite of offerings, positions it well within its competitive landscape. By addressing the needs of retail customers, small business owners, and sophisticated investors alike, Amerant Bancorp Inc conveys a commitment to both breadth and depth in financial service delivery.
Commitment to Security and Customer Service
The integration of secure digital technology with personalized banking experiences underscores Amerant Bancorp Inc’s dedication to customer service and operational excellence. Emphasizing security protocols and regulatory compliance, the company ensures that all customer transactions and personal data remain safeguarded. Its customer-first approach is apparent in its persistent efforts to innovate service delivery while upholding stringent standards of reliability and transparency.
Summary of Core Business Functions
Amerant Bancorp Inc stands as a multifaceted financial institution that combines traditional banking with advanced digital services. Its offerings in deposit products, a wide array of loan formats, wealth management, and fiduciary services reveal a business model designed to be resilient and versatile in a dynamic industry. By successfully integrating secure digital solutions with conventional banking channels, the company continues to provide value and stability to its diverse customer base.
Amerant Bancorp (NYSE: AMTB) has announced a quarterly cash dividend of $0.09 per share of common stock. The dividend will be paid on November 29, 2024, to shareholders of record as of November 14, 2024. Amerant operates through its main subsidiary, Amerant Bank, which is the largest community bank headquartered in Florida. The bank maintains 25 banking centers across South Florida (18), Tampa (1), and Houston, Texas (6), providing deposit, credit, and wealth management services to individuals and businesses in the U.S.
Amerant Bancorp (NYSE: AMTB) reported a net loss of $48.2 million ($1.43 per diluted share) in Q3 2024, compared to net income of $5.0 million in Q2 2024. The company completed a public offering raising $165 million gross proceeds, selling 8.68 million shares at $19.00 per share. Following this, Amerant executed an investment portfolio repositioning, selling $551 million in securities resulting in a $68.5 million pre-tax loss. Total assets reached $10.4 billion, with gross loans at $7.56 billion and deposits at $8.11 billion. The Board declared a quarterly cash dividend of $0.09 per share.
Amerant Bank has climbed to rank 41 on Newsweek's 2024 list of America's Most Loved Workplaces, up seven spots from the previous year. This marks the third consecutive year the bank has been recognized for its exceptional employee satisfaction and workplace culture. The ranking is a collaboration between Newsweek and the Best Practice Institute (BPI), based on a survey of over 2.6 million employees from various-sized companies.
The list acknowledges companies that have created workplaces where employees feel respected, inspired, and appreciated. Key areas of analysis include systemic collaboration, positive vision of the future, alignment of values, respect, and achievement. Jerry Plush, Chairman and CEO of Amerant Bank, expressed pride in the recognition, attributing it to the team members' commitment and passion.
The ranking process involved employee surveys, analysis of external public ratings, and direct interviews with company officials. This recognition highlights Amerant Bank's commitment to fostering a strong workplace culture and its ability to attract and retain top talent in a competitive market.
Amerant Bancorp Inc. (NYSE: AMTB) has announced the release of its third quarter 2024 financial results on Wednesday, October 23, 2024, after market close. The earnings results will be accessible on the company's investor relations website. Following the release, Amerant will host a conference call on Thursday, October 24, 2024, at 9:00 AM ET.
The call will feature Jerry Plush, Chairman and CEO, and Sharymar Calderón, Executive VP and CFO, who will discuss the company's financial and operating results for the quarter. Investors can join the call via phone or webcast, with dial-in numbers provided for both domestic and international participants. A replay of the webcast will be available on Amerant's website for approximately one month after the call.
Amerant Bank has announced the appointment of Sterling Harrell as EVP, Broward Market President. Harrell, who brings extensive experience in commercial banking and financial management, will be based in Amerant's recently opened Plantation, FL regional headquarters. His most recent role was as Managing Director - Middle Market Florida for TD Bank.
Jerry Plush, Chairman and CEO of Amerant Bank, expressed confidence in Harrell's ability to contribute to the bank's growth in Broward County. This appointment aligns with Amerant's continued dedication to expansion in South Florida. Harrell has previously held leadership positions at institutions such as SunTrust and Fairwinds Credit Union.
Amerant recently hosted a private client reception at its new Broward regional office in Plantation. With this new location, over half of Amerant Bank's 600 plus member workforce is now based in Broward County.
Amerant Bancorp Inc. (NYSE: AMTB) has successfully closed its public offering of 8,684,210 shares of Class A voting common stock at $19.00 per share, raising approximately $165 million in gross proceeds. The offering included 784,210 additional shares due to the full exercise of the underwriters' option. Net proceeds totaled approximately $156.7 million after underwriting discounts.
The company plans to use the funds for general corporate purposes, including supporting organic growth, working capital, resolving non-performing loans, investments in its banking subsidiary, and potential balance sheet optimization strategies. Jerry Plush, Chairman and CEO, stated that this capital raise completes Amerant's multi-year transformation and strengthens its ability to pursue continued organic growth.
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.
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