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.
Amerant Bank has been awarded the U.S. Small Business Administration (SBA)’s 2023 Export Lender of the Year Award, recognizing its efforts in enhancing access to capital for small businesses in global markets. The bank provided over $20 million in export financing in 2022, with export loans now representing more than half of its commitments. This award highlights the bank's strategic focus on export loan programs and collaboration with local SBA offices to support exporters. The SBA emphasizes that small businesses engaged in international trade experience faster growth, higher wages, and greater economic stability.
Amerant Bancorp Inc. (NASDAQ: AMTB) announced that it will release its first quarter 2023 earnings results on April 20, 2023, after market close. Investors can access the results on the company’s investor relations website. Following the release, a conference call will be held on April 21, 2023, at 9:00 AM ET, hosted by CEO Jerry Plush and CFO Carlos Iafigliola, to discuss financial results. Amerant Bancorp has been a key player in Florida's community banking sector since 1979, operating 23 banking centers and offering deposit, credit, and wealth management services.
Amerant Bank announces the appointment of Baylor Lancaster-Samuel as Chief Investment Officer of Amerant Investments, effective March 30, 2023. With over 20 years of experience in finance, she will lead the investment research team and enhance the company’s investment strategies. Lancaster-Samuel previously served as Fixed Income Portfolio Manager at Amerant since 2021 and has a strong background in credit research at Standard & Poor’s. Her leadership is anticipated to strengthen Amerant's position in the financial industry. She holds an M.B.A. from New York University and is involved in professional organizations.
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.
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.
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.
FAQ
What is the current stock price of Amerant Bancorp (AMTB)?
What is the market cap of Amerant Bancorp (AMTB)?
What services does Amerant Bancorp Inc. offer?
Where is Amerant Bancorp Inc. headquartered?
What recent achievements has Amerant Bancorp Inc. made?
How did Amerant Bancorp Inc. perform financially in the first quarter of 2024?
What community initiatives is Amerant Bancorp Inc. involved in?
What products does Amerant offer to businesses?
Has Amerant Bancorp Inc. made any recent strategic sales?
What are Amerant Bancorp Inc.'s core markets?
How is Amerant Bancorp Inc. involved in sports partnerships?
What significant banking technology partnerships does Amerant have?
