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. has announced an adjustment to the price range of its modified Dutch auction tender offer to buy up to $50 million of its Class B common stock. The new price range is between $11.05 and $12.55 per share. The tender offer is set to expire on December 18, 2020. If fully subscribed, this could result in a repurchase of 30% to 34% of the issued Class B shares, depending on the final purchase price. Shareholders must retender shares due to the price range change, and the offer is not contingent on financing.
Amerant Bancorp has initiated a modified “Dutch auction” tender offer to repurchase up to $50 million of its Class B common stock between $9.65 and $12.55 per share. This offer, set to expire on December 18, 2020, allows shareholders to indicate how many shares and at what price they wish to tender. If fully subscribed, the company could acquire 3,984,063 to 5,181,347 shares, representing 30% to 39% of outstanding shares as of November 12, 2020.
Amerant Bancorp reported a net income of $1.7 million for Q3 2020, a recovery from a net loss of $15.3 million in Q2 2020. However, net income for the first nine months of 2020 totaled a loss of $10.2 million, compared to $37.9 million in profit for the same period last year. Operating income decreased 46.6% from Q2 to $11.5 million and was down 9.8% year-over-year. The bank showed improved credit quality with loans under forbearance dropping significantly to $101.2 million. ROA and ROE improved from the previous quarter but remained negative for the first nine months of the year.
Amerant Bancorp Inc. (NASDAQ: AMTB, AMTBB) announced it will report its third-quarter 2020 earnings on October 29, before market opening. The conference call will be hosted by CEO Millar Wilson and CFO Carlos Iafigliola at 9:30 AM ET to discuss financial results. Investors can access the call via dial-in numbers or through a live webcast on the company's investor relations website. Amerant Bancorp is the largest community bank in Florida, operating 27 banking centers and providing various banking services to U.S. individuals and businesses.
Amerant Bank has been awarded the Innovation Award by Mastercard in the annual Community Institution Segment Awards for its outstanding technological advancements that enhance customer experience. This recognition highlights Amerant's commitment to innovation, community impact, and leadership in the banking sector. The bank operates 27 centers primarily in Florida and Texas, providing various financial services to both individuals and businesses. CEO Millar Wilson expressed gratitude towards the team for their dedication and creativity in delivering effective digital solutions.
Amerant Bancorp has appointed Adrian D. Collard as Senior Vice President and Chief Marketing Officer. Collard, a recognized innovator, will oversee the marketing strategy to enhance brand value and drive growth. Previously, he was Interim CMO at Mastercard Latin America and has held leadership roles at PayPal and Young & Rubicam. CEO Millar Wilson praised Collard's track record in elevating brands. Additionally, Collard expressed confidence in Amerant's positioning for industry leadership. He holds a Bachelor’s degree from the University of Kent and has received multiple marketing accolades.
Amerant Bancorp Inc. (NASDAQ: AMTB) reported a net loss of $15.3 million for Q2 2020, a decline from net income of $3.4 million in Q1 2020 and $12.9 million in Q2 2019. The six-month net loss reached $11.9 million, impacting net income per share, which was $0.37 in Q2 2020. Operating income rose by 29.7% to $21.6 million. The bank bolstered its credit reserves to historic high levels, recording a provision for loan losses of $48.6 million. Total loans increased by 3.6%, and total deposits rose by 3.1%, totaling $6.0 billion. Amerant remains committed to customer relationships amidst the COVID-19 pandemic.
Amerant Bancorp Inc. (NASDAQ: AMTB) announced it will report its second quarter 2020 earnings results before the market opens on July 24, 2020. CEO Millar Wilson, CFO Carlos Iafigliola, and CBO Miguel Palacios will discuss the financial results in a conference call at 9:30 AM ET. Investors can access the call via the company’s website or by dialing 866-987-6807. Amerant Bancorp is the largest community bank in Florida, operating 27 banking centers and providing a range of financial services.
Amerant Bancorp Inc. has completed a registered offering of senior notes due 2025, raising $60 million, exceeding initial expectations due to high demand. The notes carry a 5.75% interest rate, payable semi-annually, and are backed by the Company's subsidiary, Amerant Florida Bancorp. Proceeds will support general corporate purposes, including working capital and potential acquisitions. The offering was managed by Raymond James & Associates, with regulatory filings made with the SEC.
Amerant Bancorp Inc. (NASDAQ: AMTB) has priced a registered offering of senior notes totaling $46.0 million, with an interest rate of 5.75% per annum. These unsecured notes will mature on June 30, 2025, and interest payments will commence on December 30, 2020. Proceeds from the offering will support general corporate purposes, including working capital and potential acquisitions. The offering is expected to close on June 23, 2020.