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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. (NASDAQ: AMTB) announced a cash dividend of $0.09 per share on April 19, 2023. This dividend is scheduled to be payable on May 31, 2023, to all shareholders who are on record as of May 15, 2023. As the largest community bank in Florida, Amerant Bancorp has provided financial services since 1979 and operates 23 banking centers across South Florida and Houston, Texas. The company is committed to delivering quality services to individuals and businesses, including deposit and wealth management services.
Amerant Bancorp Inc. (NASDAQ: AMTB) reported a net income of $20.2 million for Q1 2023, translating to $0.60 per diluted share, down from $22.0 million or $0.65 in Q4 2022. Total assets rose by $367.5 million, reaching $9.5 billion, with gross loans increasing by 2.8% to $7.12 billion. Deposits grew by 3.44% to $7.29 billion. However, non-performing assets rose 29.6% to $48.7 million, and the average cost of deposits increased to 1.91%. The board declared a quarterly cash dividend of $0.09 per share, payable on May 31, 2023. The company will discuss its Q1 results in an earnings conference call on April 21, 2023.
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.