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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.

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Amerant Bancorp Inc. (NYSE: AMTB) has announced a cash dividend of $0.09 per share of common stock, payable on August 30, 2024, to shareholders of record as of August 15, 2024. This decision was made by the company's Board of Directors on July 24, 2024.

Amerant Bancorp, headquartered in Coral Gables, Florida, operates through its main subsidiary, Amerant Bank, N.A., and other subsidiaries. The company provides deposit, credit, and wealth management services to individuals and businesses in the U.S. Amerant Bank, the largest community bank headquartered in Florida, has been operating for over 40 years and maintains 25 banking centers across South Florida, Tampa, and the Houston area.

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Amerant Bancorp Inc. (NYSE: AMTB) reported Q2 2024 results with net income of $5.0 million, or $0.15 per diluted share, down from $10.6 million in Q1. Key highlights:

- Total assets: $9.7 billion, down 0.7% from Q1
- Gross loans: $7.32 billion, up 4.5%
- Total deposits: $7.82 billion, down 0.8%
- Net Interest Margin: 3.56%, up from 3.51% in Q1
- Provision for credit losses: $19.2 million, up 54.4%
- Non-interest income: $19.4 million, up 34.0%
- Non-interest expense: $73.3 million, up 10.1%
- Efficiency ratio: 74.2%, up from 72.0% in Q1
- ROA: 0.21%, down from 0.44% in Q1
- ROE: 2.68%, down from 5.69% in Q1

The Board declared a quarterly cash dividend of $0.09 per common share.

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Amerant Bank (NYSE: AMTB) has been named the Official Bank of the Tampa Bay Rays in a multi-year strategic partnership. This marks Amerant's fourth major sports franchise partnership, following agreements with the Florida Panthers, Miami Heat, and Miami Marlins. The deal includes extensive brand presence at Tropicana Field, gameday broadcast exposure, and various promotional opportunities.

The partnership aligns with Amerant's recent expansion in the Greater Tampa area, including a new branch and regional headquarters. Jerry Plush, Chairman and CEO of Amerant Bank, emphasized the bank's strategy of partnering with respected local organizations. Matt Silverman, President of the Rays, expressed excitement about the opportunities presented by this agreement.

Amerant Bank, the largest community bank headquartered in Florida, has been serving clients for over 40 years and was recently certified as a Most Loved Workplace® for 2024.

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Amerant Bank has appointed Jesse Flowers as the new EVP and Palm Beach Market President. Flowers, who has over 20 years of experience in the financial services industry, is known for his focus on relationship banking and client success. His appointment coincides with Amerant's plans to open its third Palm Beach banking center and regional office in Q1 2025. CEO Jerry Plush expressed confidence in Flowers' ability to drive growth and enhance client service in the Palm Beach market. Flowers' previous role was as Regional President for West Palm Beach at SouthState Bank.

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Amerant Bancorp (NYSE: AMTB) announced it will release its second-quarter 2024 financial results on July 24, 2024, after market close. The results will be accessible on the company's investor website. Furthermore, a conference call hosted by CEO Jerry Plush and CFO Sharymar Calderón is scheduled for July 25, 2024, at 9:00 AM ET to discuss the quarterly performance. Investors can join via dial-in numbers or access the live webcast through the company's investor relations webpage. A replay will be available for one month.

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Amerant Bank has appointed industry veteran Mike Nursey as EVP, Central Florida Market President, to spearhead its expansion in Hillsborough and Pinellas counties, as well as other Central Florida markets. Nursey, who brings over two decades of experience in leading high-performing teams and client relationship management, will operate from Amerant's new regional headquarters in Tampa. This appointment follows Amerant's recent opening of a new banking center in Tampa's Westshore district, aligning with the bank's strategy to enhance its presence in Greater Tampa and Central Florida. Nursey's prior roles include North Florida Market President at TD Bank and Commercial Banking Executive in Jacksonville and Miami. He is also actively involved in community service, serving on various boards.

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Amerant Bank, Florida’s largest community bank, has announced a heartwarming initiative to support local veterans and first responders. The bank has purchased 250 tickets for Game 4 of the Florida Panthers playoffs, held at the Amerant Bank Arena, and will donate them to veterans and first responders in collaboration with various organizations. This gesture is part of Amerant Bank's mission to foster strong community relationships and support those who have served the country. Additionally, Amerant Bank purchased 250 tickets for its own team members for Game 3. This initiative complements their 'Saves for Vets' program, which raised over $120,000 in the 2022-2023 season for veteran-focused nonprofits in South Florida.

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Amerant Bancorp Inc. (NYSE: AMTB) reported net income of $10.6 million in Q1 2024, compared to a net loss of $17.1 million in Q4 2023. The company declared a cash dividend of $0.09 per share, showing a positive turnaround in financial performance. Total assets increased to $9.8 billion, with organic loan and deposit growth. Despite a decrease in total gross loans, cash and cash equivalents saw a significant rise. Non-performing assets decreased, and the allowance for credit losses increased slightly. The company's efficiency ratio improved, with positive returns on average assets and equity.
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Amerant Bancorp Inc. (NYSE: AMTB) has declared a cash dividend of $0.09 per-share of Amerant common stock. The dividend is payable on May 30, 2024, to shareholders of record at the close of business on May 15, 2024.
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MidFirst Bank, the largest privately owned bank in the nation, is set to acquire the Houston banking locations of Amerant Bank, a subsidiary of Amerant Bancorp Inc. (NYSE: AMTB). This acquisition will add six Amerant Bank locations to MidFirst's footprint, bringing in approximately $576 million in deposits and $529 million in loans. The move aligns with MidFirst's growth strategy in Texas and the Western United States, enhancing its presence in the Houston market and expanding its banking services. The transaction is expected to close later this year, subject to regulatory approval.
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FAQ

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.

NYSE:AMTB

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50.17%
1.27%
Commercial Banking
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CORAL GABLES