Amerant Bancorp Inc Stock Price, News & Analysis

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.

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.

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.

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.

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.

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.