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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) will announce its third quarter 2022 earnings on October 20, 2022, post-market. Investors can find the results on Amerant's website. A conference call, featuring CEO Jerry Plush and CFO Carlos Iafigliola, is scheduled for October 21 at 9:00 AM ET to discuss these results. Amerant Bancorp is the largest community bank in Florida, operating 24 banking centers across South Florida and Houston, Texas, providing various financial services.
Amerant Bancorp Inc. (NASDAQ: AMTB) has declared a cash dividend of $0.09 per share, payable on August 31, 2022, to shareholders of record by the close of business on August 17, 2022. Headquartered in Coral Gables, Florida, Amerant Bancorp operates through its main subsidiary, Amerant Bank, which is the largest community bank in the state and has served over 40 years. The bank provides a variety of financial services to individuals and businesses across the U.S.
Amerant Bancorp reported a net income of $7.7 million in 2Q22, down 51.9% from the previous quarter and year. The decline was primarily due to $8 million in non-routine charges. However, Core Pre-Provision Net Revenue rose to $19.4 million, reflecting growth in net interest income, which increased by 5.9% from the prior quarter. Total assets grew to $8.2 billion, and loans increased by 2.2%, while deposits reached $6.2 billion, up 8.98%. A significant reduction in non-performing loans was noted, decreasing to $25.2 million from $47 million in the prior quarter.
Amerant Bank has expanded its partnership with the Florida Panthers, becoming the official helmet sponsor for all games, including the postseason. The arrangement includes prominent logo placements on player helmets and on-ice advertising, enhancing brand visibility. Amerant aims to improve customer experience through unique opportunities at home games. The partnership builds upon Amerant's previous season's collaboration with the Panthers, reflecting a commitment to community and sports engagement.
Amerant Bank has formed a multi-year strategic partnership with the Miami HEAT, becoming the Official Bank of the Miami HEAT. This marks the bank’s third sports sponsorship deal in South Florida within a year, reinforcing its commitment to the community. The partnership includes marketing initiatives and community engagement through events like the HEAT Beach Sweep, focusing on environmental sustainability. Amerant’s Chairman & CEO, Jerry Plush, emphasized the importance of being an integral community bank through these collaborations.
Amerant Bancorp Inc. (NASDAQ: AMTB) announced the release of its second quarter 2022 earnings results on July 20, 2022, after market close. Investors can access the results via their investor relations website. A conference call featuring CEO Jerry Plush and CFO Carlos Iafigliola is scheduled for July 21, 2022, at 9:00 AM ET to discuss the quarterly financial and operational outcomes. Amerant, a significant community bank in Florida, has provided banking services for over 40 years and operates 24 banking centers in South Florida and Houston, Texas.
Amerant Bancorp Inc. has extended its offer to exchange up to $30 million of outstanding unregistered 4.25% Fixed-to-Floating Rate Subordinated Notes due 2032 for registered equivalents until 5:00 p.m. NYC Time on June 21, 2022. As of June 16, 2022, 51% of the Old Notes, amounting to $15.25 million, had been tendered for exchange. The terms for the New Notes remain similar to the Old Notes, with advantages including non-restrictions on transfer. This extension aims to allow more holders to participate.
Amerant Bancorp Inc. (NASDAQ: AMTB) has successfully completed its $50 million share repurchase program for Class A Common Stock, repurchasing a total of 1,602,887 shares, including 611,525 since March 31, 2022. This is the company's second consecutive $50 million buyback, totaling 3,148,399 Class A shares repurchased since November 2021. CEO Jerry Plush highlighted that these actions, along with recent cash dividends, reflect their commitment to managing capital efficiently and enhancing total returns for shareholders.
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