Amerant Bancorp Inc Stock Price, News & Analysis

Amerant Bancorp Inc. (NASDAQ: AMTB) has declared a cash dividend of $0.06 per share, totaling approximately $2.2 million, payable by January 15, 2022, to shareholders on record by December 22, 2021. This decision reflects the company's commitment to enhancing shareholder returns and signals confidence in its financial position and future performance, according to CEO Jerry Plush.

Amerant Mortgage, a subsidiary of Amerant Bank, has announced the expansion of its wholesale division, onboarding 28 new team members focused on enhancing services for mortgage brokers. This move aims to accelerate growth in the wholesale sector, with the new team previously generating over $2 billion in gross loan volume. The wholesale division offers a mix of standardized agency and specialized bank portfolio products, providing mortgage brokers with greater options and flexibility. This strategic development is a response to evolving business opportunities within the mortgage market.

Amerant Bancorp Inc. (NASDAQ: AMTB) announced the completion of a clean-up merger on November 18, 2021, simplifying its capital structure. This involved converting all shares of Class B common stock into Class A common stock, with the last trading day for Class B being November 17, 2021. Shareholders with fractional shares post-merger will receive cash equal to their fractional shares multiplied by the Class A closing price of $30.10. The total outstanding shares of Class A after the merger are approximately 37,103,243.

Amerant Bancorp Inc. (NASDAQ: AMTB, AMTBB) announced that its shareholders approved a merger aimed at simplifying the company's capital structure. The merger will convert all Class B common stock into Class A common stock at a rate of 0.95 shares. Any shareholder exceeding an 8.9% ownership threshold in Class A stock will receive non-voting shares. The merger is set to take effect on November 18, 2021, and will result in only Class A shares being traded on NASDAQ.

CEO Jerry Plush highlighted the merger's potential to optimize capital costs and enhance shareholder returns.

Amerant Bank, one of Florida's largest community banks, has partnered with United Way Miami through 2024. This collaboration includes support for the United Way's annual 5K event in Coral Gables on January 23, 2022, aimed at enhancing access to quality education and promoting healthy living in Miami-Dade County. The partnership also features sponsorship of the Women United Let's Do Lunch Series to foster professional networking. Amerant's CEO Jerry Plush expressed pride in supporting a significant local organization committed to community improvement.

Raistone has successfully secured growth funding led by Amerant Bancorp Inc. (NASDAQ: AMTB, AMTBB) to support its expansion amid significant growth. The fintech firm, known for enhancing working capital access, will utilize this funding to develop its finance APIs and expand its suite of financial solutions like Supply Chain Finance and Buy Now, Pay Later. Raistone aims to improve cash flow for businesses worldwide, responding to supply chain challenges. Their innovative platform connects various financial entities, facilitating smooth transactions.

Amerant Bancorp Inc. (NASDAQ: AMTB and AMTBB) announced a multi-year outsourcing agreement with FIS, aiming to enhance operational efficiency and reduce costs. The Bank anticipates annual savings of about $12 million by outsourcing 90 positions to FIS, leveraging its technology for improved service offerings. This partnership is expected to accelerate Amerant's business transformation and optimize its operational targets. Both companies express optimism regarding collaboration benefits, with an emphasis on superior digital banking solutions.

Amerant Bancorp reported a net income of $17.0 million or $0.45 per diluted share for Q3 2021, up 6.7% from Q2 2021 and 900.7% year-over-year. Pre-provision net revenue reached $17.5 million, reflecting a 13.2% increase since Q2, while core PPNR improved to $18.3 million. Net interest income rose to $51.8 million, driven by lower deposit costs. Although total loans decreased by 2.3%, total deposits held steady at $5.6 billion. Amerant's book value per share improved to $21.68.

Amerant Bank, a major community bank in Florida, has partnered with fintechs Alloy and Q2 to enhance its digital banking offerings. This collaboration aims to streamline the process of opening new accounts and managing direct deposits, improving both customer experience and operational efficiency. With nearly $8 billion in assets and 25 branches across Florida and Texas, Amerant Bank focuses on digital transformation to facilitate faster onboarding for both individual and business clients. The integration of these fintech solutions promises a secure and efficient banking experience.