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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 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.
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.
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.
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.
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.
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.
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.
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.
Amerant Bancorp Inc. (NASDAQ: AMTB) reported a net income of $20.9 million in Q3 2022, a substantial increase from $7.7 million in Q2 2022. Total assets grew by 7.22% to $8.7 billion, while gross loans rose 11.2% to $6.5 billion. The average yield on loans increased to 5.06%. Non-performing loans decreased by 25.5% to $18.7 million. The board declared a cash dividend of $0.09 per common share, payable on November 30, 2022. The efficiency ratio improved to 65.4%.
Amerant Bancorp Inc. (NASDAQ: AMTB) announced on October 19, 2022, that its Board of Directors declared a cash dividend of $0.09 per share on common stock. This dividend is payable on November 30, 2022, for shareholders of record by November 15, 2022. Headquartered in Coral Gables, Florida, Amerant operates through its principal subsidiary, Amerant Bank, and offers a range of banking services across 23 locations in South Florida and Houston, Texas.
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