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. reports news on its role as a Florida-based bank holding company operating through Amerant Bank, N.A. and Amerant Investments, Inc. Updates commonly cover quarterly financial results, asset quality, credit risk management, loan-portfolio actions, deposit trends, operational efficiency, dividends and share repurchase authorization.
Company releases also describe banking-center expansion in South Florida and Tampa, wealth management and investment services, product strategy across consumer and commercial offerings, and leadership or governance changes tied to the bank’s operating priorities.
Amerant Bancorp Inc. (NASDAQ: AMTB) will release its first quarter 2022 earnings results on April 20, 2022, after market close. Investors can access the results on the company’s investor relations website. A conference call discussing the financial results is scheduled for April 21, 2022, at 9:00 AM ET, hosted by CEO Jerry Plush and CFO Carlos Iafigliola. The call will be accessible via phone and webcast, with a replay available for one month. Amerant Bancorp is a leading bank holding company based in Coral Gables, Florida, operating primarily through Amerant Bank.
Amerant Bancorp Inc. (NASDAQ: AMTB) announced significant changes to its Board of Directors, effective from the upcoming annual meeting on June 8, 2022. Retiring members include Chairman Frederick C. Copeland, Jr. and Director J. Guillermo Villar. New appointees Orlando Ashford, Samantha Holroyd, John Quelch, and Oscar Suarez will join the board on April 1, 2022. Additionally, Jerry Plush will transition to Chairman, and Pamella J. Dana will be Lead Independent Director. The new directors bring diverse experiences, emphasizing growth in South Florida and Houston.
Amerant Bank, the second largest community bank in Florida, has joined the USDF Consortium, becoming the seventh bank nationally to do so. This consortium aims to enhance the adoption and interoperability of the USDF™ bank-minted tokenized deposit, facilitating value transfers on blockchain. Amerant Bank's involvement reflects its commitment to innovation in digital transactions, with a focus on safer and more reliable financial services for consumers. The consortium plans to establish standards for member banks, expanding services like mobile banking and crypto lending.
Amerant Bancorp Inc. announced the completion of a $30 million private placement of its 4.25% Fixed-to-Floating Rate Subordinated Notes due in 2032. The notes will carry an initial interest of 4.25% until March 2027, after which the rate will reset quarterly to a floating rate. Proceeds will be utilized for general corporate purposes, including capital for growth and debt repayment. The notes are guaranteed by Amerant Florida Bancorp Inc. and are not registered under the Securities Act, limiting their sale in the U.S. without registration or exemption.
Amerant Bank, the second largest community bank in Florida, has introduced the Amerant CoverMe program, which eliminates overdraft fees for amounts up to $100. The bank will also reduce overdraft fees from $35 to $10 by the end of Q2 2022 for consumer accounts. This initiative aims to help customers avoid declined transactions and overdrafts. Additionally, Amerant offers an Overdraft Protection program at no setup cost, helping customers manage their finances more effectively.
Amerant Bancorp Inc. (NASDAQ: AMTB) has successfully completed its previous $50 million share buyback program and announced a new $50 million repurchase program for Class A common stock. The decision reflects the board's confidence in the company's performance and commitment to enhancing shareholder value. Repurchases will occur based on market conditions and regulatory requirements. The bank, headquartered in Florida, is one of the largest community banks in the state, with 24 banking centers. These buyback initiatives, alongside recent cash dividends, aim to optimize capital management and returns for shareholders.
Amerant Bancorp reported a substantial increase in net income for Q4 2021, reaching $65.5 million ($1.77 per share), compared to $17.0 million in Q3 2021. This improvement reflects a robust 284.4% quarter-over-quarter and a 672.7% year-over-year growth. Core pre-provision net revenue (Core PPNR) reached approximately $19 million, while total loans saw growth of $88.6 million during the same period. Additionally, non-performing loans decreased to 0.89% of total loans, and net interest margin improved to 3.17%.
Amerant Bancorp Inc. (NASDAQ: AMTB) has declared a cash dividend of $0.09 per share for its common stock. This dividend will be payable on February 28, 2022, to shareholders of record as of February 11, 2022. The announcement follows the company's reputation as the second largest community bank in Florida, providing a range of banking services through its subsidiary, Amerant Bank. The bank operates 24 centers, primarily in South Florida and Houston, Texas.
Amerant Bancorp Inc. (NASDAQ: AMTB) has announced it will report its fourth quarter 2021 earnings results before market opening on January 20, 2022. CEO Jerry Plush and CFO Carlos Iafigliola will conduct a conference call at 9:00 AM ET to discuss the financial outcomes. Interested parties can access the call via the company's website or dial in directly. The company, based in Coral Gables, Florida, operates as a significant community bank and provides various banking services across the U.S. and select international markets.
Amerant Bancorp Inc. has completed the sale of its headquarters in Coral Gables, FL, to FNLI Audax LLC for $135 million. This all-cash transaction is expected to yield a pre-tax gain of approximately $62.4 million and increase tangible book value per common share by about $1.22. As part of the deal, Amerant has entered an 18-year leaseback agreement at approximately $43 per square foot. This strategic move aims to enhance the company’s financial position by increasing the percentage of earning assets to total assets.