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.
Black Knight, Inc. (NYSE:BKI) announced that Amerant Mortgage, a subsidiary of Amerant Bank, will implement its Empower Loan Origination System (LOS) and various origination solutions to improve efficiency. This rapid implementation is designed for mid-sized lenders and will enhance operations across retail and correspondent channels. The Empower LOS automates processing with minimal human intervention, improving risk mitigation and data integrity. Additional integrations include a product eligibility engine, digital closing solutions, and machine-learning technology to streamline mortgage operations.
Amerant Bancorp Inc. (NASDAQ: AMTB, AMTBB) will report its first quarter 2021 earnings results on April 29, 2021, before market opening. CEO Jerry Plush and CFO Carlos Iafigliola will discuss the financial and operational outcomes during a conference call at 9:00 AM ET. Interested participants can join the call via a live webcast on the company’s investor relations website or by phone (domestic: 866-987-6807, international: 630-652-5946) using conference ID 3657331. A replay will be available for one month.
Amerant Bancorp Inc. (NASDAQ: AMTB, AMTBB) has appointed Dolores M. Lare as an independent director, effective April 1, 2021. With over 35 years of experience, Mrs. Lare currently partners with Patriot Financial Partners and has held various executive positions in prominent banks. She will serve on the Board's Audit and Risk Committees, bringing valuable expertise to the company. The appointment aligns with Amerant's goal to enhance customer relationships and drive sustainable growth.
Amerant Bancorp Inc. (NASDAQ: AMTB, AMTBB) announced a new share repurchase program on March 10, 2021, allowing for the purchase of up to $40 million of Class B common stock. This initiative, authorized by the Board of Directors, aims to enhance shareholder returns and demonstrates management's confidence in the company's future. Repurchases will be conducted based on market conditions and other regulatory factors, providing flexibility without obligating the company to specific purchase amounts. The program is intended to improve capital management and shareholder value.
Amerant Bancorp Inc. reported a fourth quarter net income of $8.5 million, a significant increase from $1.7 million in the prior quarter, but down from $13.5 million year-over-year. The company faced a full-year net loss of $1.7 million due to $88.6 million in loan loss provisions. Operating income fell to $7.5 million from $11.5 million in Q3 2020. Although the net interest margin rose to 2.61%, total loans decreased by 1.4% from the previous quarter. Positive credit quality trends were noted, with no provisions for loan losses in Q4 2020.
Amerant Bank has announced the formation of Amerant Mortgage, LLC, a joint venture aimed at capitalizing on the booming residential mortgage market in Florida. The bank retains majority ownership of the JV, which will leverage the expertise of seasoned executives from the residential mortgage sector, including Howard Levine and Tony Eelman. The venture aims to deliver exceptional client experiences and a range of mortgage products, amidst a favorable economic backdrop of low interest rates and increasing demand.
Amerant Bancorp Inc. has appointed Gerald P. Plush as its new Vice Chairman and Chief Executive Officer, effective after the filing of the 2020 Annual Report, expected in March. Plush, a seasoned financial services professional with over 30 years of experience, will lead the company into its next growth phase, focusing on profitability and shareholder value. He succeeds Millar Wilson, who will retire after a 12-year tenure, during which he significantly expanded Amerant’s assets from $6 billion to nearly $8 billion and oversaw its public offering in 2018.
Amerant Bancorp Inc. (NASDAQ: AMTB, AMTBB) is set to report its fourth quarter 2020 earnings on January 29, 2021, before market opening. CEO Millar Wilson and CFO Carlos Iafigliola will present the financial results during a conference call at 9:30 AM ET, which will be available through the company's website and via telephone. Investors can join by dialing 866-987-6807 domestically or 630-652-5946 internationally, using conference ID 9558279. The information may provide insights into Amerant's financial health and operational performance.
Amerant Bancorp Inc. (NASDAQ: AMTB, AMTBB) announced the results of its tender offer to buy up to $50 million of Class B common stock, which closed on December 18, 2020. The offer was oversubscribed with 4,940,037 shares tendered, and the company accepted 4,249,785 shares at $12.55 each, totaling approximately $53.3 million. This buyback represents about 32% of Class B shares and is expected to increase tangible book value per share by $0.74. Future repurchases may occur depending on market conditions.
Amerant Bancorp announced the preliminary results of its modified Dutch auction tender offer to repurchase up to $50 million of Class B common stock. The offer expired on December 18, 2020, and was oversubscribed, with 4,940,289 shares tendered. The company plans to purchase 4,249,785 shares at $12.55 each, for a total cost of approximately $53.3 million. This represents about 32% of the outstanding Class B shares. A preliminary proration rate of 86.07% was established, with final figures to be confirmed post-settlement.