STOCK TITAN

Amerant Bancorp Inc. - AMTB STOCK NEWS

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. (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.

Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.48%
Tags
partnership
-
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.56%
Tags
none
-
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.87%
Tags
none
News
Rhea-AI Summary

On January 18, 2023, Amerant Bancorp Inc. (NASDAQ: AMTB) announced a cash dividend of $0.09 per share, payable on February 28, 2023. Shareholders of record must be noted by the close of business on February 13, 2023. Amerant Bancorp operates the largest community bank in Florida, with 23 banking centers, providing a range of deposit, credit, and wealth management services. Established in 1979, it continues to serve individuals and businesses across the U.S.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.62%
Tags
dividends
-
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.62%
Tags
none
-
Rhea-AI Summary

Amerant Bancorp Inc. (NASDAQ: AMTB) will announce its fourth quarter 2022 earnings results on January 19, 2023, after market close. Investors can access the results through the company's investor relations website. A conference call will follow on January 20, 2023, at 9:00 AM ET, featuring CEO Jerry Plush and CFO Carlos Iafigliola discussing the financial results. Amerant Bancorp, headquartered in Coral Gables, is the largest community bank in Florida and operates 23 banking centers across South Florida and Texas.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.78%
Tags
Rhea-AI Summary

Amerant Bancorp Inc. (NASDAQ: AMTB) announced a new share repurchase program totaling $25 million, effective from January 1, 2023, until December 31, 2023. The program allows repurchases of Class A shares under various conditions and aims to enhance shareholder value. CEO Jerry Plush emphasized that this initiative represents prudent capital management. However, repurchases will commence only post the release of Q4 2022 earnings in January 2023. The company maintains discretion over timing and volume based on market conditions.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.93%
Tags
buyback
-
Rhea-AI Summary

Amerant Bancorp Inc. (NASDAQ: AMTB) has appointed Erin Knight to its Board of Directors, effective December 15, 2022. Knight is currently the President of Monument Capital Management and brings extensive banking experience from organizations like SouthTrust and Regions Bank. CEO Jerry Plush expressed enthusiasm about her appointment, citing her vast expertise in financial services as a valuable asset for the company’s strategic goals. Knight's leadership is expected to enhance Amerant's focus on customer and community needs.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.87%
Tags
management
-
Rhea-AI Summary

Amerant Bank and United Way Miami announced that the Amerant Bank 5K will occur on January 22, 2023, in Coral Gables, marking the second year of sponsorship. The event aims to support United Way Miami's mission in education, financial stability, and health. Participants can enjoy a scenic 5K run or walk followed by a celebration. Early registration is set at $30 and will increase closer to the race date. This partnership highlights Amerant Bank's commitment to community involvement.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.05%
Tags
none
Rhea-AI Summary

Amerant Bank has announced a multi-year partnership with the Florida Panthers, becoming the Official Bank of the team and the FLA Live Arena. This partnership includes rebranding the center-ice premium seating area as the ‘Amerant Vault’, enhancing fan experiences with exclusive amenities. The deal will also extend Amerant’s branding visibility during games, and a portion of proceeds from player saves will support local veterans. Additional financial literacy opportunities will be offered to young fans through the Panthers Kids Club.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.1%
Tags
partnership

FAQ

What is the current stock price of Amerant Bancorp (AMTB)?

The current stock price of Amerant Bancorp (AMTB) is $22.32 as of December 20, 2024.

What is the market cap of Amerant Bancorp (AMTB)?

The market cap of Amerant Bancorp (AMTB) is approximately 953.3M.

What services does Amerant Bancorp Inc. offer?

Amerant Bancorp Inc. offers a wide range of banking services, including checking and savings accounts, commercial real estate loans, consumer loans, and wealth management services.

Where is Amerant Bancorp Inc. headquartered?

Amerant Bancorp Inc. is headquartered in Coral Gables, Florida.

What recent achievements has Amerant Bancorp Inc. made?

Amerant has expanded its footprint in South Florida with the opening of a new banking center in Ft. Lauderdale and entered into strategic partnerships with iCapital and the Miami Marlins.

How did Amerant Bancorp Inc. perform financially in the first quarter of 2024?

Amerant Bancorp Inc. reported a net income of $10.6 million and total assets of $9.8 billion for the first quarter of 2024.

What community initiatives is Amerant Bancorp Inc. involved in?

Amerant is involved in various community initiatives, including the “Saves for Vets” program with the Florida Panthers, which supports veteran-focused nonprofit organizations.

What products does Amerant offer to businesses?

Amerant offers businesses a range of products including checking and savings accounts, commercial real estate loans, working capital loans, and asset-based lending.

Has Amerant Bancorp Inc. made any recent strategic sales?

Yes, Amerant Bancorp Inc. recently sold its Houston-based operations to MidFirst Bank to focus on its core markets in Florida.

What are Amerant Bancorp Inc.'s core markets?

Amerant Bancorp Inc.'s core markets are South Florida and Tampa, FL.

How is Amerant Bancorp Inc. involved in sports partnerships?

Amerant Bancorp Inc. has multi-year sports partnerships with the Miami Marlins, Miami Heat, Florida Panthers, and the University of Miami Athletics.

What significant banking technology partnerships does Amerant have?

Amerant has a technology partnership with iCapital to enhance its wealth management offerings through a broad private market menu.

Amerant Bancorp Inc.

Nasdaq:AMTB

AMTB Rankings

AMTB Stock Data

953.34M
33.56M
14.31%
59.98%
2.11%
Banks - Regional
National Commercial Banks
Link
United States of America
CORAL GABLES