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Amerant Bancorp (NYSE: AMTB) Q1 2026 profit surges on cost cuts

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Amerant Bancorp Inc. reported first-quarter 2026 net income attributable to the company of $17.9 million, or $0.44 per diluted share, up from $2.7 million, or $0.07, in the fourth quarter of 2025.

Results were driven by sharply lower noninterest expenses of $66.9 million versus $106.8 million, including reduced loan sale losses and contract costs, even as net interest income declined 11.0% to $80.3 million and credit loss provision rose to $7.8 million. Net interest margin narrowed to 3.55% from 3.78%, while ROA improved to 0.73% and ROE to 7.63%.

Total assets were $9.9 billion, gross loans $6.8 billion, and deposits $7.9 billion, with core deposits of $5.9 billion and AUM of $3.4 billion. Asset quality showed mixed trends: classified loans fell to $320.3 million, but non-performing assets increased to $191.6 million and net charge-offs were 0.45% of average loans. The board declared a quarterly cash dividend of $0.09 per share and the company repurchased 859,493 Class A shares for approximately $18.7 million.

Positive

  • Sharp rebound in profitability: Net income rose to $17.9 million and diluted EPS to $0.44 in Q1 2026, from $2.7 million and $0.07, respectively, in Q4 2025, with PPNR up 469.6% to $30.7 million.
  • Substantial cost reduction: Noninterest expense fell to $66.9 million from $106.8 million, aided by lower loan sale losses and contract costs, improving the efficiency ratio to 68.52% from 95.19%.

Negative

  • Margin compression and higher credit costs: Net interest income declined 11.0% to $80.3 million, net interest margin narrowed to 3.55% from 3.78%, and the provision for credit losses increased to $7.8 million, while non-performing assets rose to $191.6 million.

Insights

Stronger Q1 profitability on cost cuts, with softer margin and higher credit costs.

Amerant delivered a major rebound in earnings: net income rose to $17.9M from $2.7M, and diluted EPS to $0.44 from $0.07. Pre-tax pre-provision net revenue jumped to $30.7M, up 469.6% quarter over quarter, mainly from a $39.9M reduction in noninterest expense.

Top-line trends were less favorable. Net interest income fell 11.0% to $80.3M and net interest margin compressed to 3.55% from 3.78%, while the provision for credit losses more than doubled to $7.8M. Asset quality metrics were mixed: classified loans declined to $320.3M, but non-performing assets edged up to $191.6M and net charge-offs were 0.45% of average loans.

Capital and shareholder returns remained meaningful. The tangible common equity ratio was 9.02%, the company repurchased 859,493 shares for about $18.7M, and the board declared a $0.09 per-share dividend payable on May 29, 2026. Management also outlined 2Q26 guidance for loan and deposit growth and a net interest margin range of 3.40–3.50%, with projected quarterly expenses of $68–$69M.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Net income attributable to Amerant Bancorp Inc. $17.9M Q1 2026; vs $2.7M in Q4 2025
Diluted EPS $0.44 Q1 2026; vs $0.07 in Q4 2025
Net interest income $80.3M Q1 2026; down 11.0% from $90.2M
Noninterest expense $66.9M Q1 2026; down 37.3% from $106.8M
Net interest margin (NIM) 3.55% Q1 2026; previously 3.78% in Q4 2025
Total assets $9.90B Balance sheet at March 31, 2026
Total deposits $7.94B Balance sheet at March 31, 2026
Quarterly cash dividend $0.09/share Declared April 22, 2026; payable May 29, 2026
pre-tax pre-provision net revenue (PPNR) financial
"Pre-tax pre-provision net revenue (“PPNR”)(1) was $30.7 million, up by $25.3 million, or 469.6%, compared to PPNR of $5.4 million."
Pre-tax pre-provision net revenue (PPNR) measures a bank’s core operating income before setting aside money for potential loan losses and before taxes, combining interest income minus operating costs and noncredit adjustments. It matters to investors because it shows the underlying earning power a bank has to absorb future loan losses and grow, like judging a car’s engine output before adding the weight of passengers and luggage — it reveals operating strength independent of one-time credit swings.
Net Interest Margin (“NIM”) financial
"Net Interest Margin (“NIM”) was 3.55%, compared to 3.78%."
non-performing assets financial
"Total non-performing assets were $191.6 million, up by $4.7 million, or 2.5%, compared to $186.9 million."
Loans or other credit exposures that are not producing expected income because borrowers have stopped making scheduled payments for a significant period (commonly around 90 days). Think of it like a business lending money that has gone quiet — the cash flow stops while the lender still carries the debt on its books. High levels of non-performing assets matter to investors because they reduce a lender’s earnings, tie up capital that could be used for growth, and signal higher risk of future losses.
tangible common equity ratio financial
"Tangible common equity ratio (1)(3)(4) | 9.02% | | 9.39%"
Tangible common equity ratio measures how much real, loss-absorbing capital common shareholders have relative to a company's tangible assets—calculated by removing intangible items (like goodwill) and preferred equity from total equity and comparing that net amount to tangible assets. Think of it as the thickness of a safety cushion made of solid, visible value rather than accounting entries; investors use it to judge how well a company could withstand losses and protect common shareholders' claims.
Assets Under Management and custody (“AUM”) financial
"Assets Under Management and custody (“AUM”) totaled $3.4 billion, up by $148.6 million, or 4.6% from $3.3 billion."
Net income attributable to Amerant Bancorp Inc. $17.9M +$15.2M vs Q4 2025
Diluted EPS $0.44 +$0.37 vs Q4 2025
Net interest income $80.3M -11.0% vs Q4 2025
Pre-tax pre-provision net revenue (PPNR) $30.7M +469.6% vs Q4 2025
Net interest margin (NIM) 3.55% down from 3.78% in Q4 2025
Return on average assets (ROA) 0.73% up from 0.10% in Q4 2025
Return on average equity (ROE) 7.63% up from 1.12% in Q4 2025
Guidance

For Q2 2026, Amerant projects total loans around $7 billion, total deposits around $8 billion, net interest margin between 3.40–3.50%, and quarterly noninterest expenses of approximately $68–$69 million.

Understanding 8-K Material Events →
0001734342false00017343422026-04-232026-04-23
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): April 23, 2026
amerantimagea03.jpg 
Amerant Bancorp Inc.
(Exact name of registrant as specified in its charter) 
Florida 001-38534 65-0032379
(State or other jurisdiction
of incorporation		 (Commission
file number)		 (IRS Employer
Identification Number)
220 Alhambra Circle
Coral Gables, Florida
33134
(Address of principal executive offices)(Zip Code)
(305) 460-8728
      (Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolsName of exchange on which registered
Class A Common StockAMTBNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

On April 23, 2026, Amerant Bancorp Inc. (the "Company") issued a press release to report the Company’s financial results for the fiscal quarter March 31, 2026. The press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference to this Item 2.02.

In accordance with General Instruction B.2. of Form 8-K, the information in this Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being “furnished” and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 7.01 Regulation FD Disclosure

On April 24, 2026, the Company will hold a live audio webcast to discuss its financial results for the fiscal quarter ended March 31, 2026. In connection with the webcast, the Company is furnishing to the U.S. Securities and Exchange Commission the earnings slide presentation attached as Exhibit 99.2 to this Current Report on Form 8-K and incorporated by reference to this Item 7.01.

In accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.2 attached hereto, is being “furnished” and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such a filing.

Item 8.01 Other Events

On April 23, 2026, the Company also issued a press release announcing that the Company's Board of Directors (the “Board”) declared a cash dividend of $0.09 per share of its Class A common stock. The dividend is payable on May 29, 2026, to shareholders of record at the close of business on May 15, 2026.

A copy of the press release is attached as Exhibit 99.3 to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits
Number
Exhibit
99.1
Press Release of Amerant Bancorp Inc., dated April 23, 2026
99.2
Earnings slide presentation of Amerant Bancorp Inc., dated April 24, 2026
99.3
Press Release of Amerant Bancorp Inc., dated April 23, 2026
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
Date: April 23, 2026 Amerant Bancorp Inc.
    
  By: /s/ Julio V. Pena
    Name: Julio V. Pena
    Title:  Executive Vice President,
Associate General Counsel and Corporate Secretary

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CONTACTS:
Investors
Laura Rossi
InvestorRelations@amerantbank.com
(305) 460-8728
Media
Alexis Dominguez
MediaRelations@amerantbank.com
(305) 441-8412


AMERANT REPORTS FIRST QUARTER 2026 RESULTS

CORAL GABLES, FLORIDA, April 23, 2026. Amerant Bancorp Inc. (NYSE: AMTB) (the “Company” or “Amerant”) today reported net income attributable to the Company of $17.9 million in the first quarter of 2026, or $0.44 earnings per diluted share, compared to net income of $2.7 million, or $0.07 earnings per diluted share, in the fourth quarter of 2025.
“Amerant's first quarter results reflect continued momentum in executing our strategic plan as we strengthen credit quality and position the bank for sustainable, long-term growth," stated Carlos Iafigliola, SEVP and Interim CEO. “During the quarter, we demonstrated proactive credit risk management, which led to balanced portfolio actions. We also continued to optimize our loan portfolio, including exiting certain large-exposure, out-of-footprint and criticized loans. In addition, we’ve maintained our focus on operational efficiency, delivering net income in line with our guidance, primarily driven by better than expected cost-savings and strong growth in lower-cost international deposits.”

Mr. Iafigliola concluded, “We are keenly focused on the long-term health of the business and demonstrating our ongoing commitment to stability and predictability. With strong fundamentals, a clear path forward, and a highly capable team, we are confident in our ability to deliver sustainable value for our customers, communities, and shareholders.”

Below are the results for 1Q26 and their comparison to 4Q25:

•Total assets were $9.9 billion, up by $126.5 million, or 1.3%, compared to $9.8 billion.

•Total gross loans, which includes all loans held for sale, were $6.8 billion, up by $56.5 million, or 0.8%, compared to $6.7 billion.

•Cash and cash equivalents were $188.7 million, down by $281.5 million, or 59.9%, compared to $470.2 million.

•Investment securities were $2.4 billion, up by $346.3 million, or 16.6%, compared to $2.1 billion.

•Total deposits were $7.9 billion, up by $152.2 million, or 2.0%, compared to $7.8 billion.

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•Core deposits were $5.9 billion, up by $100.8 million, or 1.7%, compared to $5.8 billion.

•Total advances from the Federal Home Loan Bank (“FHLB”) were $732.3 million, up by $20.3 million, or 2.8%, compared to $712.0 million.
•Net Interest Margin (“NIM”) was 3.55%, compared to 3.78%.

•Average yield on loans was 6.38%, compared to 6.73%.

•Average cost of total deposits was 2.31%, compared to 2.34%.

•Loan to deposit ratio was 85.07%, compared to 86.01%.

•Asset Quality and Allowance for Credit Losses (“ACL”):

–Total non-performing assets were $191.6 million, up by $4.7 million, or 2.5%, compared to $186.9 million. As of 1Q26, non-performing assets consist of $176.1 million in non-performing loans and $15.5 million in Other Real Estate Owned (“OREO”).

–The ACL was $79.2 million compared to $79.3 million.

–Classified loans were $320.3 million, down by $34.6 million, or 9.7%, compared to $354.8 million, while non-performing loans were $176.1 million, up $4.7 million, or 2.7%, compared to $171.4 million. The reduction in classified loans was primarily attributable to loan payoffs and sales of loans that had been classified as held for sale in the prior quarter. Special mention loans were $148.2 million, up $11.8 million, or 8.6%, compared to $136.5 million. The increase was primarily driven by downgrades while largely offset by upgrades during the period.

–The Company has provided additional details regarding asset quality in the 1Q26 earnings presentation (https://investor.amerantbank.com).

•Assets Under Management and custody (“AUM”) totaled $3.4 billion, up by $148.6 million, or 4.6% from $3.3 billion.

•Pre-tax pre-provision net revenue (“PPNR”)(1) was $30.7 million, up by $25.3 million, or 469.6%, compared to PPNR of $5.4 million.

•Net Interest Income (“NII”) was $80.3 million, down by $9.9 million, or 11.0%, from $90.2 million.

•Provision for credit losses was $7.8 million, up by $4.3 million, or 123.5%, compared to $3.5 million.

•Noninterest income was $17.4 million, down by $4.6 million, or 21.1%, from $22.0 million. Noninterest income this quarter includes realized gains on the sale of available-for-sale securities of $0.5 million, while noninterest income in the fourth quarter included a gain of $3.3 million on the sale and leaseback of two banking centers and $2.2 million in realized gains on the sale of available-for-sale securities.

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•Noninterest expense was $66.9 million, down by $39.9 million, or 37.3%, from $106.8 million. Noninterest expense this quarter includes $3.3 million in savings in vendor contract renegotiations, $1.7 million in a write-down of an equity investment carried at cost and $1.8 million in net losses on loans held for sale, while noninterest expense in the fourth quarter included $14.9 million in losses on loans held for sale, $7.5 million in contract termination costs, $3.8 million in staff separation costs, $2.5 million in an impairment charge on an investment carried at cost, and $0.5 million in an intangible asset impairment related to the downsizing of Amerant Mortgage.

•The efficiency ratio was 68.52%, compared to 95.19%.

•Return on average assets (“ROA”) was 0.73%, compared to 0.10%.

•Return on average equity (“ROE”) was 7.63%, compared to 1.12%.

•The Company repurchased an aggregate of 859,493 shares of Class A common stock at a weighted average price of $21.77 per share, or 0.97x of Tangible Book Value ("TBV")(1) and 0.95x of book value per share. The aggregate purchase price for these transactions was approximately $18.7 million which includes transaction costs.

•On April 22, 2026, the Company’s Board of Directors declared a cash dividend of $0.09 per share of common stock. The dividend is payable on May 29, 2026, to shareholders of record on May 15, 2026.

Additional details on the first quarter 2026 results can be found in the Exhibits and Glossary of Terms and Definitions to this earnings release, and the earnings presentation available under the Investor Relations section of the Company’s website at https://investor.amerantbank.com. See Glossary of Terms and Definitions for definitions of financial terms.

1 Non-GAAP measure, see “Non-GAAP Financial Measures” for more information and Exhibit 2 for a reconciliation to GAAP measures.


First Quarter 2026 Earnings Conference Call

The Company will hold an earnings conference call on Friday, April 24, 2026 at 9:00 a.m. (Eastern Time) to discuss its first quarter 2026 results. The conference call and presentation materials can be accessed via webcast by logging on from the Investor Relations section of the Company’s website at https://investor.amerantbank.com. The online replay will remain available for approximately one month following the call through the above link.

About Amerant Bancorp Inc. (NYSE: AMTB)

Amerant Bancorp Inc. is a bank holding company headquartered in Coral Gables, Florida since 1979. The Company operates through its main subsidiary, Amerant Bank, N.A. (the “Bank”), as well as its other subsidiary Amerant Investments, Inc. The Company provides individuals and businesses with deposit, credit and wealth management services. The Bank, which has operated for over 45 years, is headquartered in Florida and has a network of 23 banking centers – 21 in South Florida and 2 in Tampa, Florida. For more information, visit investor.amerantbank.com.

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Cautionary Notice Regarding Forward-Looking Statements

This press release contains “forward-looking statements” including statements with respect to the Company’s objectives, expectations and intentions and other statements that are not historical facts. Examples of forward-looking statements include but are not limited to: our future operating or financial performance, including revenues, expenses, expense savings, income or loss and earnings or loss per share, and other financial items; statements regarding expectations, plans or objectives for future operations, products or services, and our expectations on loan recoveries, or reaching positive resolutions on problem loans, or significantly reducing special mention and/or non-performing loans. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “point to,” “project,” “could,” “intend,” “target,” “goals,” “outlooks,” “modeled,” “dedicated,” “create,” and other similar words and expressions of the future.

Forward-looking statements, including those relating to our beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions, involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the Company’s actual results, performance, achievements, or financial condition to be materially different from future results, performance, achievements, or financial condition expressed or implied by such forward-looking statements. You should not rely on any forward-looking statements as predictions of future events. You should not expect us to update any forward-looking statements, except as required by law. All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, together with those risks and uncertainties described in “Risk factors” in our annual report on Form 10-K for the fiscal year ended December 31, 2025 filed on February 27, 2026 (“the 2025 Form 10-K”), and in our other filings with the U.S. Securities and Exchange Commission (the “SEC”), which are available at the SEC’s website www.sec.gov.

Interim Financial Information

Unaudited financial information as of and for interim periods, including the three month periods ended March 31, 2026, December 31, 2025 and March 31, 2025, may not reflect our results of operations for our fiscal year ending, or financial condition, as of December 31, 2026, or any other period of time or date.

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Non-GAAP Financial Measures

The Company supplements its financial results that are determined in accordance with accounting principles generally accepted in the United States of America (“GAAP”) with non-GAAP financial measures, such as “pre-tax pre-provision net revenue (PPNR)”, "tangible common equity ratio", and “tangible stockholders’ equity (book value) per common share”. This supplemental information is not required by, or is not presented in accordance with GAAP. The Company refers to these financial measures and ratios as “non-GAAP financial measures”.

We use certain non-GAAP financial measures, including those mentioned above, both to explain our results to shareholders and the investment community and in the internal evaluation and management of our business. Management believes that these supplementary non-GAAP financial measures and the information they provide are useful to investors since these measures permit investors to view our performance using the same tools that our management uses to evaluate our past performance and prospects for future performance. While we believe that these non-GAAP financial measures are useful in evaluating our performance, this information should be considered as supplemental and not as a substitute for or superior to the related financial information prepared in accordance with GAAP. Additionally, these non-GAAP financial measures may differ from similar measures presented by other companies.

Exhibit 2 reconciles these non-GAAP financial measures to GAAP reported results.

Beginning in the first quarter of 2026, the Company reviewed and updated its use of non‑GAAP financial measures and now presents a limited set of metrics that management uses to evaluate performance and make operating decisions. As part of this update, the Company discontinued the presentation of “Core PPNR”, “core noninterest income”, “core noninterest expense”, “core net income”, “core earnings per share (basic and diluted)”, “core return on assets (Core ROA)”, “core return on equity (Core ROE)”, and “core efficiency ratio” as management determined these measures are no longer primary metrics used internally. This change does not reflect any change in the Company’s underlying business, operations, or GAAP financial results.
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Exhibit 1- Selected Financial Information
The following table sets forth selected financial information derived from our interim unaudited and annual audited consolidated financial statements.

(in thousands)
March 31, 2026December 31, 2025September 30, 2025June 30, 2025March 31, 2025
Consolidated Balance Sheets(audited)
Total assets$9,903,514$9,777,018$10,410,199$10,334,678$10,169,688
Total investments2,430,8842,084,5692,307,7011,970,8881,761,678
Total gross loans (1)
6,753,7816,697,2356,941,7927,189,1967,219,162
Allowance for credit losses79,23679,27694,91886,51998,266
Total deposits7,939,1017,786,9348,300,9698,306,5448,154,978
Core deposits (1)
5,891,6895,790,8956,203,0386,143,6255,993,055
Advances from the Federal Home Loan Bank732,263711,984831,699765,000715,000
Senior notes
————59,922
Subordinated notes29,83729,79529,75229,71029,667
Junior subordinated debentures 64,17864,17864,17864,17864,178
Stockholders' equity
913,918938,802944,940924,286906,263
Assets under management and custody (1)
3,405,3383,256,7543,169,5143,065,0202,932,602


Three Months Ended
(in thousands, except percentages, share data and per share amounts)
March 31, 2026December 31, 2025September 30, 2025June 30, 2025March 31, 2025
Consolidated Results of Operations
Net interest income$80,281$90,150$94,152$90,479$85,904
Provision for credit losses (2)
7,8003,49014,6006,06018,446
Noninterest income17,38122,01917,29119,77819,525
Noninterest expense66,919106,77277,83574,40071,554
Net income attributable to Amerant Bancorp Inc.17,8732,70114,75623,00211,958
Pre-tax pre-provision net revenue (PPNR) (3)
30,7435,39733,60835,85733,875
Effective income tax rate 22.10%(41.64)%22.37%22.80%22.50%
Common Share Data
Stockholders' book value per common share$22.96$23.13$22.90$22.14$21.60
Tangible stockholders' equity (book value) per common share (3)(4)
$22.38$22.56$22.32$21.56$21.03
Basic earnings per common share$0.44$0.07$0.35$0.55$0.28
Diluted earnings per common share (4)
$0.44$0.07$0.35$0.55$0.28
Basic weighted average shares outstanding 40,315,75740,915,73341,590,20141,805,55042,015,507
Diluted weighted average shares outstanding (4)
40,510,99341,102,76041,774,10141,873,55142,186,759
Cash dividend declared per common share (5)
$0.09$0.09$0.09$0.09$0.09
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Three Months Ended
March 31, 2026December 31, 2025September 30, 2025June 30, 2025March 31, 2025
Other Financial and Operating Data (6)
Profitability Indicators (%)
Net interest income / Average total interest earning assets (NIM) (1)
3.55%3.78%3.92 %3.81 %3.75 %
Net income / Average total assets (ROA)(1)
0.73%0.10 %0.57 %0.90 %0.48 %
Net income / Average stockholders' equity (ROE) (1)
7.63%1.12 %6.21 %10.06 %5.32 %
Noninterest income / Total revenue (1)
17.80%19.63%15.52%17.94%18.52%
Capital Indicators (%)
Total capital ratio (1)
14.16%14.10%13.90 %13.49 %13.45 %
Tier 1 capital ratio (1)
12.62%12.58%12.28 %11.97 %11.84 %
Tier 1 leverage ratio (1)
9.91%9.62%9.73 %9.69 %9.73 %
Common equity tier 1 capital ratio (CET1) (1)
11.84%11.80%11.54 %11.24 %11.11 %
Tangible common equity ratio (1)(3)(4)
9.02%9.39%8.87 %8.73 %8.69 %
Liquidity Ratios (%)
Loans to Deposits (1)
85.07%86.01%83.63 %86.55 %88.52 %
Asset Quality Indicators (%)
Non-performing assets / Total assets (1)
1.93%1.91%1.34 %0.95 %1.38 %
Non-performing loans / Total gross loans (1)
2.61%2.56%1.79 %1.15 %1.71 %
Allowance for credit losses / Total non-performing loans
45.01%46.26%76.37 %104.89 %79.75 %
Allowance for credit losses / Total loans held for investment1.21%1.20%1.37 %1.20 %1.37 %
Net charge-offs / Average total loans held for investment (1)
0.45%1.07%0.39 %0.86 %0.22 %
Efficiency Indicators (% except FTE)
Noninterest expense / Average total assets2.74%4.14%3.01 %2.91 %2.89 %
Salaries and employee benefits / Average total assets1.31%1.50%1.36 %1.41 %1.35 %
Other operating expenses/ Average total assets (1)
1.43%2.64%1.66 %1.50 %1.54 %
Efficiency ratio (1)
68.52%95.19%69.84 %67.48 %67.87 %
FTEs
699694704692726
__________________
(1)     See Glossary of Terms and Definitions for definitions of financial terms.
(2) In all periods shown, includes reserves on loans and contingent loans. The provision for (reversal of) unfunded commitments (contingencies) in the first quarter of 2026, and fourth, third, second and first quarters of 2025, were $1.1 million, $0.7 million, ($0.7 million), $2.5 million and $1.3 million, respectively.
(3) Non-GAAP measure. See “Non-GAAP Financial Measures” for more information and Exhibit 2 for a reconciliation to GAAP.
(4) See 2025 Form 10-K for more information on potential dilutive instruments and its impact on diluted earnings per share computation.
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(5) In all periods shown, the Company’s Board of Directors declared and paid cash dividends of $0.09 per share of the Company’s common stock. In connection with these dividends, the Company paid an aggregate amount of $3.7 million in each of the first quarter of 2026 and fourth quarter of 2025, and $3.8 million per quarter in all other periods.
(6) Operating data for the periods presented have been annualized.




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Exhibit 2- Non-GAAP Financial Measures Reconciliation

The following tables set forth selected financial information derived from the Company’s interim unaudited and annual audited consolidated financial statements, adjusted for certain items, including the provision for credit losses, income taxes and goodwill and other intangible assets. The Company believes these adjusted numbers are useful to understand the Company’s performance and underlying trends.
    

Three Months Ended,
(in thousands)
March 31, 2026December 31, 2025September 30, 2025June 30, 2025March 31, 2025
Net income attributable to Amerant Bancorp Inc.$17,873 $2,701 $14,756 $23,002 $11,958 
Plus: provision for credit losses (1)
7,800 3,490 14,600 6,060 18,446 
Plus: provision for income tax expense (benefit)5,070 (794)4,252 6,795 3,471 
Pre-tax pre-provision net revenue (PPNR)
30,743 5,397 33,608 35,857 33,875 
​

(in thousands, except percentages, share data and per share amounts)
March 31, 2026December 31, 2025September 30, 2025June 30, 2025March 31, 2025
Stockholders' equity$913,918$938,802$944,940$924,286$906,263
Less: goodwill and other intangibles (2)
(22,933)(23,103)(23,784)(24,016)(24,135)
Tangible common stockholders' equity$890,985$915,699$921,156$900,270$882,128
Total assets9,903,5149,777,01810,410,19910,334,67810,169,688
Less: goodwill and other intangibles (2)
(22,933)(23,103)(23,784)(24,016)(24,135)
Tangible assets$9,880,581$9,753,915$10,386,415$10,310,662$10,145,553
Common shares outstanding39,803,60740,595,27341,265,37841,748,43441,952,590
Tangible common equity ratio9.02 %9.39 %8.87 %8.73 %8.69 %
Stockholders' book value per common share$22.96$23.13$22.90$22.14$21.60
Tangible stockholders' equity book value per common share$22.38$22.56$22.32$21.56$21.03
____________

(1) Includes provision for credit losses on loans and provision for loan contingencies.
(2) Other intangible assets primarily consist of naming rights and mortgage servicing rights (“MSRs”). Other intangible assets are included in other assets in the Company’s consolidated balance sheets.
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Exhibit 3 - Average Balance Sheet, Interest and Yield/Rate Analysis
The following tables present average balance sheet information, interest income, interest expense and the corresponding average yields earned and rates paid for the periods presented. The average balances for loans include both performing and non-performing balances. Interest income on loans includes the effects of discount accretion and the amortization of non-refundable loan origination fees, net of direct loan origination costs, accounted for as yield adjustments. Average balances represent the daily average balances for the periods presented.
Three Months Ended
March 31, 2026December 31, 2025March 31, 2025
(in thousands, except percentages) Average
Balances		Income/
Expense		Yield/
Rates		Average BalancesIncome/ ExpenseYield/ RatesAverage
 Balances		Income/
Expense		Yield/
Rates
Interest-earning assets:
Loan portfolio, net (1)
$6,523,493 $102,674 6.38 %$6,770,724 $114,824 6.73 %$7,174,160 $121,021 6.84 %
Debt securities available for sale (2) (3)
2,281,441 26,800 4.76 %2,039,573 24,916 4.85 %1,473,170 17,964 4.95 %
Debt securities held for trading 333 — — %61,478 1,134 7.32 %156 — — %
Equity securities with readily determinable fair value not held for trading2,553 14 2.22 %2,550 29 4.51 %2,497 19 3.09 %
Federal Reserve Bank and FHLB stock57,177 868 6.16 %59,605 965 6.42 %57,320 936 6.62 %
Deposits with banks291,145 2,598 3.62 %531,010 5,244 3.92 %580,409 6,401 4.47 %
Other short-term investments7,182 63 3.56 %7,119 70 3.90 %6,434 67 4.22 %
Total interest-earning assets9,163,324 133,017 5.89 %9,472,059 147,182 6.16 %9,294,146 146,408 6.39 %
Total noninterest-earning assets (4)
739,439 763,723 748,385 
Total assets$9,902,763 $10,235,782 $10,042,531 

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Three Months Ended
March 31, 2026December 31, 2025March 31, 2025
(in thousands, except percentages) Average
Balances		Income/
Expense		Yield/
Rates		Average BalancesIncome/ ExpenseYield/ RatesAverage
 Balances		Income/
Expense		Yield/
Rates
Interest-bearing liabilities:
Checking and saving accounts
Interest bearing demand, savings, and money market deposits (5)
4,429,32726,365 2.41 %4,452,93128,387 2.53 %4,183,74227,1292.63 %
Time deposits2,011,95218,254 3.68 %2,050,10119,798 3.83 %2,227,93223,8584.34 %
Total deposits6,441,27944,619 2.81 %6,503,03248,185 2.94 %6,411,67450,9873.23 %
Securities sold under agreements to repurchase— — — %102 1 3.89 %—— — %
Advances from the FHLB (6)
712,3496,846 3.90 %765,2257,518 3.90 %723,6677,2004.04 %
Senior notes—— — %—— — %59,8839426.38 %
Subordinated notes29,816361 4.91 %29,774361 4.81 %29,6463614.94 %
Junior subordinated debentures64,178910 5.75 %64,178967 5.98 %64,1781,0146.41 %
Total interest-bearing liabilities7,247,62252,736 2.95 %7,362,31157,032 3.07 %7,289,04860,5043.37 %
Noninterest-bearing liabilities:
Noninterest bearing demand deposits
1,396,6121,649,2621,544,770
Accounts payable, accrued liabilities and other liabilities308,976266,810 297,491
Total noninterest-bearing liabilities
1,705,5881,916,0721,842,261
Total liabilities8,953,2109,278,3839,131,309
Stockholders’ equity949,553957,399 911,222
Total liabilities and stockholders' equity$9,902,763 $10,235,782 $10,042,531
Excess of average interest-earning assets over average interest-bearing liabilities$1,915,702 $2,109,748 $2,005,098
Net interest income$80,281 $90,150 $85,904 
Net interest rate spread2.94 %3.09 %3.02 %
Net interest margin (6)
3.55 %3.78 %3.75 %
Cost of total deposits (6)
2.31 %2.34 %2.60 %
Ratio of average interest-earning assets to average interest-bearing liabilities126.43 %128.66 %127.51 %
Average non-performing loans/ Average total loans2.39 %1.90 %1.43 %
___________
(1)    Includes loans held for investment net of the allowance for credit losses, and loans held for sale. Non-performing loans are included in the total loan portfolio balances.
(2)    Includes the average balance of net unrealized gains and losses in the fair value of debt securities available for sale.
(3)    Includes nontaxable securities with average balances of $52.9 million, $54.0 million and $54.3 million for the three months ended March 31, 2026, December 31, 2025 and March 31, 2025, respectively. The tax equivalent yield for these nontaxable securities was 4.68%, 4.48%, and 4.77% for the three months ended March 31, 2026, December 31, 2025 and March 31, 2025, respectively. In 2026 and 2025, the tax equivalent yields were calculated assuming a 21% tax rate and dividing the actual yield by 0.79.
(4)    Excludes the allowance for credit losses.
(5) To emphasize material items, certain line items previously presented separately in prior periods have been aggregated into a single line item in this table. This includes interest-bearing demand, savings, and money market deposits. The presentation for the three months ended March 31, 2025 has been conformed accordingly for comparability.
(6) See Glossary of Terms and Definitions for definitions of financial terms.


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Exhibit 4 - Noninterest Income
    This table shows the amounts of each of the categories of noninterest income for the periods presented.
Three Months Ended
March 31, 2026December 31, 2025March 31, 2025
(in thousands, except percentages)Amount % Amount % Amount%
Deposits and service fees$4,872 28.0 %$4,938 22.4 %$5,137 26.3 %
Brokerage, advisory and fiduciary activities5,461 31.4 %5,304 24.1 %4,729 24.2 %
Change in cash surrender value of bank owned life insurance (“BOLI”)(1)
2,564 14.8 %2,602 11.9 %2,450 12.5 %
Cards and trade finance servicing fees1,439 8.3 %1,505 6.8 %1,392 7.1 %
Gain on early extinguishment of FHLB advances, net— — %12 0.1 %— — %
Securities gains, net (2)
516 3.0 %2,054 9.3 %64 0.3 %
Loan-level derivative income (3)
1,531 8.8 %1,398 6.4 %1,508 7.7 %
Derivative losses, net
— — %(120)(0.5)%— — %
Other noninterest income (4)
998 5.7 %4,326 19.6 %4,245 21.9 %
Total noninterest income$17,381 100.0 %$22,019 100.0 %$19,525 100.0 %
__________________
(1)    Changes in cash surrender value of BOLI are not taxable.
(2) In the three months ended March 31, 2025 and December 31, 2025, include realized gains on the sale of debt securities available for sale of $0.5 million and $2.2 million, respectively. Additionally, the three months ended December 31, 2025, include trading securities valuation losses, partially offset by realized gains from the sale of the trading portfolio in the same period.
(3) Income from interest rate swaps and other derivative transactions with customers. The Company incurs expenses related to derivative transactions with customers which are included as part of noninterest expenses under loan-level derivative expense. See Exhibit 5 for more details.
(4) The three months ended December 31, 2025 include a gain of $3.3 million on the sale and leaseback of two banking centers located in South Florida. The three months ended March 31, 2025 include a gain of $2.8 million on the sale loans that were originated for investment. Other sources of income in the periods shown include foreign currency exchange transactions with customers and valuation income on the investment balances held in the non-qualified deferred compensation plan, and mortgage banking income and loss.
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Exhibit 5 - Noninterest Expense

This table shows the amounts of each of the categories of noninterest expense for the periods presented.
Three Months Ended
March 31, 2026December 31, 2025March 31, 2025
(in thousands, except percentages)Amount % Amount % Amount %
Salaries and employee benefits
$32,040 47.9 %$38,757 36.3 %$33,347 46.6 %
Occupancy and equipment 5,423 8.1 %5,809 5.4 %6,136 8.6 %
Professional and other services fees
11,416 17.1 %16,875 15.8 %14,682 20.5 %
Loan-level derivative expense (1)
1,042 1.6 %919 0.9 %360 0.5 %
Telecommunications and data processing3,537 5.3 %3,569 3.3 %3,475 4.9 %
Depreciation and amortization1,517 2.3 %2,060 1.9 %1,588 2.2 %
FDIC assessments and insurance2,850 4.3 %2,746 2.6 %3,236 4.5 %
Losses on loans held for sale carried at the lower of cost or fair value, net (2)
1,823 2.7 %14,850 13.9 %— — %
Advertising expenses2,939 4.4 %3,542 3.3 %3,635 5.1 %
Other real estate owned and repossessed assets (income) expense, net
(232)(0.3)%(129)(0.1)%164 0.2 %
Contract termination costs (3)
— — %7,483 7.0 %— — %
Other operating expenses (4)
4,564 6.6 %10,291 9.7 %4,931 6.9 %
Total noninterest expense
$66,919 100.0 %$106,772 100.0 %$71,554 100.0 %

___
(1) Includes service fees in connection with our loan-level derivative income generation activities.
(2) Includes valuation allowances and releases of allowances on previous loans held for sale.
(3) In the three months ended December 31, 2025, includes contract termination costs associated with certain advertising contracts and a third-party loan origination agreement under a white-label program.
(4) For a detailed discussion of the key components of other operating expenses, see the Company’s Form 10‑K for the year ended December 31, 2025.



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Exhibit 6 - Consolidated Balance Sheets

(in thousands, except share data)March 31, 2026December 31, 2025September 30, 2025June 30, 2025March 31, 2025
Assets(audited)
Cash and due from banks and restricted cash
$63,416 $53,478 $53,084 $56,381 $53,629 
Interest earning deposits with banks117,997 409,444 570,612 573,373 587,728 
Other short-term investments7,294 7,233 7,162 7,083 7,010 
Cash and cash equivalents188,707 470,155 630,858 636,837 648,367 
Securities
Debt securities available for sale, at fair value2,370,308 2,024,883 2,122,416 1,788,708 1,702,111 
Trading securities
— — 119,935 120,226 — 
Equity securities with readily determinable fair value not held for trading 2,528 2,548 2,542 2,525 2,523 
Federal Reserve Bank and Federal Home Loan Bank stock58,048 57,138 62,808 59,429 57,044 
Securities2,430,884 2,084,569 2,307,701 1,970,888 1,761,678 
Loans held for sale, at the lower of cost or fair value (1)
190,014 80,912 — — 40,597 
Mortgage loans held for sale, at fair value895 2,932 — 6,073 20,728 
Loans held for investment, gross6,562,872 6,613,391 6,941,792 7,183,123 7,157,837 
Less: Allowance for credit losses (2)
79,236 79,276 94,918 86,519 98,266 
Loans held for investment, net6,483,636 6,534,115 6,846,874 7,096,604 7,059,571 
Bank owned life insurance263,208 260,644 258,042 255,487 252,997 
Deferred tax assets, net42,532 35,566 46,881 50,966 53,448 
Operating lease right-of-use assets108,980 110,588 102,872 102,558 104,578 
Accrued interest receivable and other assets
194,658 197,537 216,971 215,265 227,724 
Total assets$9,903,514 $9,777,018 $10,410,199 $10,334,678 $10,169,688 
Liabilities and Stockholders' Equity
Deposits
Demand
Noninterest bearing$1,466,670 $1,573,301 $1,768,764 $1,706,580 $1,665,468 
Interest bearing demand, savings and money market 4,425,019 4,217,594 4,434,274 4,437,045 4,327,587 
Time2,047,412 1,996,039 2,097,931 2,162,919 2,161,923 
Total deposits7,939,101 7,786,934 8,300,969 8,306,544 8,154,978 
Advances from the Federal Home Loan Bank 732,263 711,984 831,699 765,000 715,000 
Senior notes
— — — — 59,922 
Subordinated notes29,837 29,795 29,752 29,710 29,667 
Junior subordinated debentures held by trust subsidiaries64,178 64,178 64,178 64,178 64,178 
Operating lease liabilities (3)
116,456 117,456 109,726 109,226 110,999 
Accounts payable, accrued liabilities and other liabilities
107,761 127,869 128,935 135,734 128,681 
Total liabilities8,989,596 8,838,216 9,465,259 9,410,392 9,263,425 
Stockholders’ equity
Class A common stock3,978 4,058 4,125 4,173 4,195 
Additional paid in capital297,503 316,067 327,205 336,021 339,038 
Retained earnings633,716 619,552 620,542 609,540 590,304 
Accumulated other comprehensive loss(21,279)(875)(6,932)(25,448)(27,274)
Total stockholders' equity913,918 938,802 944,940 924,286 906,263 
Total liabilities and stockholders' equity$9,903,514 $9,777,018 $10,410,199 $10,334,678 $10,169,688 

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__________
(1) As of March 31, 2026 and December 31, 2025, includes a valuation allowance of $3.4 million and $13.8 million, respectively.
(2) In the first quarter of 2026, the Company early adopted ASU 2025‑08, which expands the use of the gross‑up approach for certain purchased loans and eliminates Day 1 credit loss expense. As a result, the Company recorded an allowance for credit losses of $0.5 million on approximately $36.8 million of acquired loans, with no day 1 impact to earnings.
(3) Consists of total long-term lease liabilities. Total short-term lease liabilities are included in other liabilities.


Exhibit 7 - Loans
Loans by Type - Held For Investment

The loan portfolio held for investment consists of the following loan classes:

(in thousands)March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025		March 31,
2025
Real estate loans(audited)
Commercial real estate
Non-owner occupied$1,501,909 $1,591,861 $1,656,180 $1,770,403 $1,641,210 
Multi-family residential261,332 322,447 361,650 371,692 400,371 
Land development and construction loans505,007 534,028 544,727 543,697 499,663 
2,268,248 2,448,336 2,562,557 2,685,792 2,541,244 
Single-family residential1,680,768 1,515,181 1,550,724 1,542,447 1,549,356 
Owner occupied790,445 809,336 900,596 983,090 951,311 
4,739,461 4,772,853 5,013,877 5,211,329 5,041,911 
Commercial loans1,485,438 1,446,406 1,519,778 1,566,420 1,714,583 
Loans to financial institutions and acceptances112,667 148,602 164,974 156,918 153,345 
Consumer loans and overdrafts
225,306 245,530 243,163 248,456 247,998 
Total loans$6,562,872 $6,613,391 $6,941,792 $7,183,123 $7,157,837 
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Loans by Type - Held For Sale

The loan portfolio held for sale consists of the following loan classes:


(in thousands)March 31, 2026December 31, 2025September 30, 2025June 30, 2025March 31, 2025
Loans held for sale at the lower of fair value or cost(audited)
Real estate loans
Commercial real estate
Non-owner occupied$63,908 $43,406 $— $— $— 
Multi-family residential60,794 — — — — 
Land development and construction loans52,613 22,339 — — — 
177,315 65,745 — — — 
Single-family residential— — — — — 
Owner occupied12,699 15,167 — — 40,597 
190,014 80,912 — — 40,597 
Commercial loans— — — — — 
Consumer loans— — — — — 
Total loans held for sale at the lower of fair value or cost
190,014 80,912 — — 40,597 
Mortgage loans held for sale at fair value
Land development and construction loans— — — 2,056 7,475 
Single-family residential895 2,932 — 4,017 13,253 
Total mortgage loans held for sale at fair value
895 2,932 — 6,073 20,728 
Total loans held for sale$190,909 $83,844 $— $6,073 $61,325 


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Non-Performing Assets

This table shows a summary of our non-performing assets by loan class, which includes non-performing loans, other real estate owned, or OREO, and other repossessed assets at the dates presented. Non-performing loans consist of (i) nonaccrual loans, and (ii) accruing loans 90 days or more contractually past due as to interest or principal.
(in thousands)March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025		March 31,
2025
Non-Accrual Loans(audited)
Real Estate Loans
Commercial real estate (CRE)
Non-owner occupied$11,172 $4,288 $4,374 $1,022 $— 
Multi-family residential— — 7,018 — — 
Land development and construction loans (1)
— 16,200 19,577 — — 
11,172 20,488 30,969 1,022 — 
Single-family residential27,346 26,082 8,838 7,421 15,048 
Owner occupied40,745 28,733 15,287 21,027 22,249 
79,263 75,303 55,094 29,470 37,297 
Commercial loans 85,481 83,761 67,081 51,157 84,907 
Consumer loans and overdrafts8,969 9,204 725 666 — 
Total Non-Accrual Loans (1)
$173,713 $168,268 $122,900 $81,293 $122,204 
Past Due Accruing Loans
Real Estate Loans
Single-family residential— — — — 886 
Owner occupied— 730 — — — 
Commercial2,337 2,372 1,392 1,192 — 122 
Consumer loans and overdrafts— — — — 7 
Total Past Due Accruing Loans (2)
$2,337 $3,102 $1,392 $1,192 $1,015 
Total Non-Performing Loans176,050 171,370 124,292 82,485 123,219 
Other Real Estate Owned15,542 15,542 15,606 15,389 17,541 
Total Non-Performing Assets (1)
$191,592 $186,912 $139,898 $97,874 $140,760 
    
__________________

(1) At December 31, 2025, balances included $16.2 million in land development and construction loans held for sale, which were sold in January 2026. There were no loans both classified as held for sale and in non-performing status in any of the other periods shown.
(2)    Loans past due 90 days or more but still accruing.

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Loans by Credit Quality Indicators

This table shows the Company’s loans by credit quality indicators. The Company has not purchased credit-deteriorated loans.
March 31, 2026December 31, 2025March 31, 2025
(audited)
(in thousands)Special MentionSubstandardDoubtfulTotal (1)Special MentionSubstandardDoubtfulTotal (1)Special MentionSubstandardDoubtfulTotal (1)
Loans held for investment
Real Estate Loans
Commercial Real
Estate (CRE)
Non-owner
occupied		$51,392 $32,416 $— $83,808 $56,126 $34,213 $— $90,339 $40,391 $42,317 $— $82,708 
Multi-family residential— 22,457 — 22,457 31,704 22,435 — 54,139 8,282 — — 8,282 
Land development
and
construction
 loans		34,590 2,748 — 37,338 — — — — — — — — 
85,982 57,621 — 143,603 87,830 56,648 — 144,478 48,673 42,317 — 90,990 
Single-family residential— 43,985 — 43,985 733 26,010 — 26,743 — 15,934 — 15,934 
Owner occupied— 72,432 — 72,432 12,485 51,965 — 64,450 2,447 22,249 — 24,696 
85,982 174,038 — 260,020 101,048 134,623 — 235,671 51,120 80,500 — 131,620 
Commercial loans2,387 102,039 — 104,426 35,408 129,610 459 165,477 48,600 85,029 — 133,629 
Loans to financial institutions and acceptances— 35,210 — 35,210 — — — — — — — — 
Consumer loans and
overdrafts		— 8,969 — 8,969 — 9,204 — 9,204 — 7 — 7 
Total loans held for investment88,369 320,256 — 408,625 136,456 273,437 459 410,352 99,720 165,536 — 265,256 
Loans held for sale at the lower of cost or fair value
Non-owner occupied— — — — — 43,406 — 43,406 — — — — 
Multi-family residential30,920 — — 30,920 — — — — — — — — 
Land development and construction loans28,952 — — 28,952 — 22,339 — 22,339 — — — — 
Owner occupied— — — — — 15,167 — 15,167 — 40,597 — 40,597 
Total loans held for sale
59,872 — — 59,872 — 80,912 — 80,912 — 40,597 — 40,597 
Total$148,241 $320,256 $— $468,497 $136,456 $354,349 $459 $491,264 $99,720 $206,133 $— $305,853 
__________
(1) There were no loans categorized as “loss” as of the dates presented.




18
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Exhibit 8 - Deposits by Country of Domicile
This table shows the Company’s deposits by country of domicile of the depositor as of the dates presented.
(in thousands)March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025		March 31,
2025
(audited)
Domestic$5,228,588 $5,168,371 $5,732,799 $5,707,272 $5,592,575 
Foreign:
Venezuela2,005,521 1,910,980 1,881,871 1,897,631 1,862,614 
Others704,992 707,583 686,299 701,641 699,789 
Total foreign2,710,513 2,618,563 2,568,170 2,599,272 2,562,403 
Total deposits$7,939,101 $7,786,934 $8,300,969 $8,306,544 $8,154,978 

19
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Glossary of Terms and Definitions
•Total gross loans: is the principal balance of outstanding loans, including loans held for investment, loans held for sale at the lower of cost or fair value, and mortgage loans held for sale, net of unamortized deferred nonrefundable loan origination fees and loan origination costs, and unamortized premiums paid on purchased loans, excluding the allowance credit loan losses.
•Core deposits: consist of total deposits excluding all time deposits.
•Assets under management and custody: consists of assets held for clients in an agency or fiduciary capacity which are not assets of the Company and therefore are not included in the consolidated financial statements.
•Net interest margin, or NIM: defined as net interest income, or NII, divided by average interest-earning assets, which are loans, securities, deposits with banks and other financial assets which yield interest or similar income.
•ROA is calculated based upon the average daily balance of total assets.
•ROE is calculated based upon the average daily balance of stockholders’ equity.
•Total revenue is the result of net interest income before provision for credit losses plus noninterest income.
•Total capital ratio: total stockholders’ equity divided by total risk-weighted assets, calculated according to the standardized regulatory capital ratio calculations.
•Tier 1 capital ratio: Tier 1 capital divided by total risk-weighted assets. Tier 1 capital is composed of Common Equity Tier 1 (CET1) capital plus outstanding qualifying trust preferred securities of $62.3 million at each of all the dates presented.
•Tier 1 leverage ratio: Tier 1 capital divided by quarter to date average assets.
•Common equity tier 1 capital ratio, CET1: Tier 1 capital divided by total risk-weighted assets.
•Tangible common equity ratio: calculated as the ratio of common equity less goodwill and other intangibles divided by total assets less goodwill and other intangible assets. Other intangible assets primarily consist of naming rights and mortgage servicing rights and are included in other assets in the Company’s consolidated balance sheets.
•Loans to Deposits ratio: calculated as the ratio of total gross loans divided by total deposits.
•Non-performing assets include all accruing loans past due by 90 days or more, all nonaccrual loans and other real estate owned (“OREO”) properties acquired through or in lieu of foreclosure, and other repossessed assets.
•Non-performing loans include all accruing loans past due by 90 days or more and all nonaccrual loans
•Ratio for net charge-offs/average total loans held for investments: calculated based upon the average daily balance of outstanding loan principal balance net of unamortized deferred loan origination fees and costs, excluding the allowance for credit losses.
•Other operating expenses: total noninterest expense less salary and employee benefits.
•Efficiency ratio: total noninterest expense divided by the sum of noninterest income and NII.
•The terms of the FHLB advance agreements require the Bank to maintain certain investment securities or loans as collateral for these advances.
•Cost of total deposits: calculated based upon the average balance of total noninterest bearing and interest bearing deposits, which includes time deposits.
•FTEs: full-time equivalent employees

20
First Quarter Earnings Presentation April 24, 2026

 

2 Important Notices and Disclaimers Forward-Looking Statements This presentation contains “forward-looking statements” including statements with respect to the Company’s objectives, expectations and intentions and other statements that are not historical facts. Examples of forward- looking statements include but are not limited to: our future operating or financial performance, including revenues, expenses, expense savings, income or loss and earnings or loss per share, and other financial items; statements regarding expectations, plans or objectives for future operations, products or services, and our expectations on our investment portfolio repositioning and loan recoveries or reaching positive resolutions on problem loans. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “point to,” “project,” “could,” “intend,” “target,” “goals,” “outlook,” “modeled,” “dedicated,” “create,” and other similar words and expressions of the future. Forward-looking statements, including those relating to our beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions, involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the Company’s actual results, performance, achievements, or financial condition to be materially different from future results, performance, achievements, or financial condition expressed or implied by such forward-looking statements. You should not rely on any forward-looking statements as predictions of future events. You should not expect us to update any forward-looking statements, except as required by law. All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, together with those risks and uncertainties described in “Risk factors” in our annual report on Form 10-K for the fiscal year ended December 31, 2025 filed on February 27, 2026, and in our other filings with the U.S. Securities and Exchange Commission (the “SEC”), which are available at the SEC’s website www.sec.gov. Interim Financial Information Unaudited financial information as of and for interim periods, including the three-month periods ended March 31, 2026, December 31, 2025 and March 31, 2025, may not reflect our results of operations for our fiscal year ending, or financial condition as of December 31, 2026, or any other period of time or date. Non-GAAP Financial Measures The Company supplements its financial results that are determined in accordance with accounting principles generally accepted in the United States of America (“GAAP”) with non-GAAP financial measures, such as “pre-tax pre-provision net revenue (PPNR)”, "tangible common equity ratio", and “tangible stockholders’ equity (book value) per common share”. This supplemental information is not required by, or is not presented in accordance with GAAP. The Company refers to these financial measures and ratios as “non-GAAP financial measures”. We use certain non-GAAP financial measures, including those mentioned above, both to explain our results to shareholders and the investment community and in the internal evaluation and management of our business. Management believes that these supplementary non-GAAP financial measures and the information they provide are useful to investors since these measures permit investors to view our performance using the same tools that our management uses to evaluate our past performance and prospects for future performance. While we believe that these non-GAAP financial measures are useful in evaluating our performance, this information should be considered as supplemental and not as a substitute for or superior to the related financial information prepared in accordance with GAAP. Additionally, these non-GAAP financial measures may differ from similar measures presented by other companies. Appendix 1 reconciles these non-GAAP financial measures to GAAP reported results. Beginning in the first quarter of 2026, the Company reviewed and updated its use of non-GAAP financial measures and now presents a limited set of metrics that management uses to evaluate performance and make operating decisions. As part of this update, the Company discontinued the presentation of “Core PPNR”, “core noninterest income”, “core noninterest expense”, “core net income”, “core earnings per share (basic and diluted)”, “core return on assets (Core ROA)”, “core return on equity (Core ROE)”, and “core efficiency ratio” as management determined these measures are no longer primary metrics used internally. This change does not reflect any change in the Company’s underlying business, operations, or GAAP financial results.

 

3 • Executing Strategic Plan: Our three priorities of stabilizing the business, optimizing our credit portfolio, and growing sustainably remain the same • Enhancing Credit Quality: Improved loan portfolio monitoring and reviewing processes, leading to balanced portfolio actions during 1Q26, with both downgrades and significant upgrades. Continued to optimize loan portfolio, including exiting certain large-exposure, out-of-footprint and criticized loans • Improving Efficiency: Net income in line with our guidance and significant reduction in noninterest expenses of ~$30 million during 2026 • Prioritizing Stable and Disciplined Growth: Shifted underwriting approach, prioritizing borrowers with stable and proven operating histories and recalibrating our risk appetite • Capturing Deposit Growth in International Markets: Significant deposit growth materializing following preliminary reactivation of Venezuelan economy, as Amerant is uniquely positioned to capitalize on existing relationships and accelerate efforts to deepen them and expand in this market Opening Remarks

 

4 Key Financial Metrics (1Q26 vs 4Q25) Assets • Total assets were $9.9 billion, compared to $9.8 billion • Cash and cash and equivalents were $188.7 million, compared to $470.2 million • Total investment securities were at $2.4 billion, compared to $2.1 billion • Total gross loans were $6.8 billion, compared to $6.7 billion Liabilities • Total deposits were $7.9 billion, compared to $7.8 billion • Core deposits were $5.9 billion, compared to $5.8 billion • Brokered deposits were $548.1 million, compared to $435.7 million • FHLB advances were $732.3 million, compared to $712.0 million Off-Balance Sheet • Assets Under Management and custody (“AUM”) totaled $3.4 billion, compared to $3.3 billion

 

5 Key Financial Metrics (1Q26 vs 4Q25) Income Statement • Net Interest Income (“NII”) was $80.3 million, compared to $90.2 million • Provision for credit losses was $7.8 million, compared to $3.5 million • Noninterest income was $17.4 million, compared to $22.0 million • Noninterest expense was $66.9 million, compared to $106.8 million • Pre-tax pre-provision net revenue (PPNR) (1) was $30.7 million, compared to $5.4 million • Net income attributable to the Company was $17.9 million, compared to net income attributable to the Company of $2.7 million Relative Performance Metrics • Net Interest Margin ("NIM") was 3.55%, compared to 3.78% • Diluted earnings per share was $0.44, compared to diluted earnings per share of $0.07 • Efficiency ratio was 68.52%, compared to 95.19% • Return on Assets ("ROA") was 0.73%, compared to 0.10% • Return on Equity ("ROE") was 7.63%, compared to 1.12% (1) Non-GAAP measure, see “Non-GAAP Financial Measures” for more information and Appendix 1 for a reconciliation to GAAP measures.

 

6 Key Financial Metrics (1Q26 vs 4Q25) (1) Non-GAAP Financial Measures. See Appendix 1 for a reconciliation to GAAP. (2) TCE Ratio: 1Q26 includes $21.3 million accumulated unrealized losses net of taxes., compared to $0.9 million in 4Q25 Capital • Total Capital Ratio was 14.16%, compared to 14.10% • Common Equity Tier 1 was 11.84%, compared to 11.80% • Tangible Common Equity Ratio (1) (2) was 9.02%, compared to 9.39% Capital Management Actions • Paid quarterly cash dividend of $0.09 per common share on February 27, 2026 • Repurchased 859,493 shares for $18.7 million at a weighted average price of $21.77 per share, or 0.97x of Tangible Book Value ("TBV") (1) per share and 0.95x of book value per share • Tangible book value per share (1) was $22.38, compared to $22.56

 

7 $8,155 $8,307 $8,301 $7,787 $7,939 $4,280 $4,429 $4,434 $4,218 $4,425 $1,527 $1,528 $1,548 $1,560 $1,499 $695 $644 $550 $436 $548 $1,653 $1,706 $1,769 $1,573 $1,467 2.60% 2.53% 2.41% 2.34% 2.31% 1Q25 2Q25 3Q25 4Q25 1Q26 Deposit Composition Loan Composition (2) Transaction Deposits Customer CDs Brokered Deposits (1) Cost of total Deposits ($ in millions) Noninterest Bearing Demand Deposits Well Diversified Deposit & Loan Mix (1) Brokered Deposits : There were $9 million and $60 million in brokered transaction deposits in 2Q25 and 1Q25, respectively, while there were none in 3Q25. In 1Q26, 4Q25, 3Q25, 2Q25 and 1Q25, brokered time deposits were $548.1 million, $436 million, $550 million, $635 million and $635 million, respectively. $7,219 $7,189 $6,942 $6,697 $6,753 $2,549 $2,688 $2,563 $2,514 $2,446 $1,868 $1,723 $1,685 $1,595 $1,598 $992 $983 $901 $825 $803 $1,563 $1,546 $1,551 $1,518 $1,681 $248 $248 $243 $245 $225 6.84% 6.88% 6.93% 6.73% 6.38% 1Q25 2Q25 3Q25 4Q25 1Q26 Consumer CRE Commercial and FI & Acceptances Owner Occupied Single Family Residential Average Loan Yield ($ in millions) (2) 1Q26, 4Q25 and 1Q25 includes both mortgage loans held for sale carried at fair value and loans held for sale carried at the lower of cost or fair value. There were no loans held for sale in 3Q25, while 2Q25 includes mortgage loans held for sale carried at fair value.

 

8 $85.9 $90.5 $94.2 $90.2 $80.3 3.75% 3.81% 3.92% 3.78% 3.55% Net Interest Income NIM 1Q25 2Q25 3Q25 4Q25 1Q26 0 10 20 30 40 50 60 70 80 90 NII and NIM (%) 8 ($ in millions) 1Q25 2Q25 3Q25 4Q25 1Q26 Cost of Deposits (Domestic) 3.18 % 3.14 % 3.00 % 2.96 % 3.00 % Cost of Deposits (International) 1.31 % 1.26 % 1.19 % 1.11 % 1.04 % Cost of FHLB Advances 4.04 % 4.04 % 4.00 % 3.90 % 3.90 % Cost of Funds 2.78 % 2.69 % 2.57 % 2.51 % 2.47 % 0.48 0.40 0.48 Cumulative Beta 3Q25 4Q25 1Q26 0.00 0.60 Net Interest Income and NIM Interest-Bearing Deposits Beta Evolution (1) Cost of Funds (1) Beta calculation does not include brokered deposits (2) First interest rate cut in downward rate cycle took place in August 2024. Therefore, 3Q24 is the starting point for beta calculation. (2)

 

9 • Strengthened Portfolio Oversight: Established dedicated Portfolio Management team to enhance monitoring, reporting and escalation; investing in additional training for underwriting and relationship teams to improve accuracy and consistency of risk ratings • Enhanced Risk-rating Process: Embedded new checkpoints throughout our monitoring process. We have also increased the cadence of multiple loan monitoring meetings with proactive strategy discussions • Expanded Review Coverage & Rigor: Redesigned annual reviews for deeper issue identification; lowered review threshold from $5 million to $3 million in credit exposure (targeting $1 million over time); introduced quarterly "Top 20" reviews across CRE, C&I, and Consumer loans to monitor the largest relationships, and targeted analysis for higher risk categories • Aligned Incentives: Incorporated portfolio management metrics into banker compensation beginning in 2026 Improved Credit Evaluation Processes

 

10 Non-Performing Loans ($ in millions) $171.4 $50.6 $(9.1) $(20.6) $(16.2) $176.1 4Q25 Downgrades to NPLs Charge-offs Paydowns/PayPayoffs and Others Loans Sold 1Q26 Highlights NPAs were $191.6 million, which includes $176.1 million in NPLs and $15.5 million in OREO. As of 1Q26 The NPLs had the following composition: • $71.8 million had real estate collateral with a weighted avg. LTV of 73 % • $71.0 million were cashflow-dependent loans • $9.4 million were secured with other non-real estate collateral types • $4.6 million were ABL-monitored loans • The remaining loans were collectively evaluated for reserves

 

11 Classified Loans $354.8 $100.6 $(9.1) $(59.5) $(65.7) $(0.8) $320.3 4Q25 Downgrades Charge-offs Paydowns/Payoffs Loans Sold Upgrades 1Q26 ($ in millions) Highlights As of 1Q26 the Classified loans had the following composition: • $198.8 million had real estate collateral with a weighted avg. LTV of 64% • $84.7 million were cashflow-dependent loans • $10.8 million were ABL monitored loans • $9.4 million were secured with other non-real estate collateral types • The remaining loans were collectively evaluated for reserves

 

12 Special Mention Loans $136.5 $89.1 $(8.6) $(67.4) $(0.1) $(1.3) $148.2 $(30.9) $117.3 $(29.0) $88.3 4Q25 Downgrades Downgrade to Classified Upgrades to Pass/Watch Paydown/ Payoffs LHFS Valuation Allowance 1Q26 Loan Exit As of 4/22/26 Projected Loan Exit Projected Mid 2Q26 ($ in millions) Highlights As of 1Q26 the Special Mention loans had the following composition: • $147.2 million had real estate collateral with a weighted avg. LTV of 59% ($59.9 million were classified as held-for-sale) • The remaining loans were smaller commercial loans As of April 22, special mention loans were reduced to $117.3 million due to a $30.9 million CRE loan sale, and it is projected to reach $88.3 million as a result of an additional $29.0 million CRE loan exit expected by mid-2Q26 ---------------------------------------------------

 

13 NCOs and Allowance for Credit Losses $79.3 $(9.1) $1.9 $6.3 $1.7 $1.5 $(2.9) $0.5 $79.2 4Q25 Gross Charge- offs Recoveries Requirement for Charge- offs Specific Reserve Change Credit Quality and Macroeconomic Factor Updates Loan Growth Initial ACL on acquired PSLs 1Q26 Portfolios Balance 4Q25 Reserve Build (Release) (1) Balance 1Q26 Real Estate $ 23,117 $ (412) $ 22,705 Commercial $ 34,353 $ (58) $ 34,295 Consumer and Others $ 21,806 $ 430 $ 22,236 Total ACL $ 79,276 $ (40) $ 79,236 ACL Roll-forward Allowance for Credit Losses NCO-to-Average Total Loans Ratio ($ in millions) Period / Portfolio CRE Owner- Occupied Single-Family Residential Commercial Financial Institutions Consumer and Others Total 1Q25 —% 0.01% —% 0.05% —% 0.16% 0.22% 2Q25 —% —% 0.01% 0.77% —% 0.07% 0.86% 3Q25 0.07% —% —% 0.25% —% 0.07% 0.39% 4Q25 0.05% —% —% 0.98% —% 0.04% 1.07% 1Q26 —% —% —% 0.27% —% 0.18% 0.45% ($ in thousands) (% are annualized) (1) Includes ACL on purchased seasoned loans ("PSLs"). See Glossary for more details on the Company's early adoption of ASU 2025-08.

 

14 2Q26 Outlook • Total Loans projected to reach $7 billion as of 2Q26, through organic originations complemented by selective residential loan purchases, to balance credit exits and support shift towards a more granular portfolio. We expect cumulative loan growth around 7% for 2026 • Total deposits projected to reach $8 billion as of 2Q26. We expect cumulative deposit growth between 8 to 10% for 2026 • Net interest margin projected to be in the 3.40 - 3.50% range for 2Q26, stabilizing around 3.40% towards year-end • Projected expenses of approximately $68 - $69 million in 2Q26, stabilizing around $68 million towards year-end, as we continue to make progress towards a target efficiency ratio of approximately 60% • Will continue to optimize capital management, balancing between retaining capital for growth, and buybacks and dividends to enhance returns

 

15 Looking ahead, our operating focus is firmly aligned with our strategic plan: • Prioritizing stable and sustainable loan growth to achieve our financial goals • Taking additional steps to improve credit quality: ◦ Strengthening asset quality through a disciplined, relationship-driven credit culture and strong monitoring processes ◦ Build a high-quality loan pipeline supported by disciplined underwriting • Improving efficiency: ◦ Executing cost-efficiency initiatives designed to deliver ongoing, recurring savings • Deepening our relationship-first approach to increase synergies between lines of business and reduce reliance on higher-cost funding while pursuing strong opportunity for deposit growth in domestic, and international markets, particularly Venezuela • Maintaining strong capital and shareholder returns, including our dividends and share repurchases Closing Remarks

 

Supplemental Information

 

17 93.1% 6.9% $1,702 $2,025 $2,370 4.94% 4.92% 4.76% AFS Marketable Equity Securities Yield 1Q25 4Q25 1Q26 0 2,000 89.7% 10.3% Balances and Yields (1) Fixed vs. Floating (2) March 2026 Floating rate Fixed rate Available for Sale Securities by Type March 31, 2026 4.4 yrs Effective Duration ($ in millions) (1) Excludes Federal Reserve Bank and FHLB stock (2) Hybrid investments are classified based on current rate (fixed or floating) (3) Based on estimated prepayment speeds 5.0 yrs Effective Duration $64.7 $71.1 $77.6 $83.4 2Q26 3Q26 4Q26 1Q27 $0.0 $50.0 $100.0 ($ in millions) Expected Prepayments & Maturities Expected Prepayments & Maturities (3) Maturing Yield % Investment Portfolio 4.81% 4.90% 4.95% 4.98% December 2025 As of March 31, 2026, 100.0% of the Available for Sale portfolio consists of MBS issued or guaranteed by Government agencies and Government sponsored enterprises. $2.5 $2.5 $2.5

 

18 91.5% 91.5% 91.5% 91.1% 89.8% 3.0% 3.0% 2.7% 2.8% 2.7% 3.8% 3.8% 4.0% 4.2% 5.4% 1.6% 1.7% 1.8% 2.0% 2.1% South Florida New York Tampa Other 1Q25 2Q25 3Q25 4Q25 1Q26 Geographic Mix (Domestic) Geographic Mix (1) Loan Portfolio Geographic Mix (1) 1Q25 includes both mortgage loans held for sale carried at fair value and loans held for sale carried at the lower of cost or fair value. There were no loans held for sale in 3Q25, while all other periods include mortgage loans held for sale at fair value. This geographic categorization is based on internal criteria. (2) Consists of international loans; residential loans with U.S. collateral. (2)

 

19 Loans Held for Investment Portfolio by Industry • Diversified portfolio - highest sector concentration, other than real estate, at 12% of total loans • 72% of total loans secured by real estate • Main concentrations: – CRE or Commercial Real Estate – Wholesale - Food & Auto and computer parts wholesalers – Retail - Gas stations – Services – Healthcare and Restaurants Highlights (1) Consists primarily of finance facilities granted to non-bank financial companies 5.2% which is composed mainly of 2.2% CRE note-on-note financing, 2.0% corporate finance and 0.8% mortgage warehousing lines (2) Comprised mostly of construction and real estate related services and equipment rental and leasing activities. (3) Food wholesalers represented approximately 33%. (4) Gasoline stations represented approximately 36%. (5) Healthcare represented approximately 51%. (6) Restaurants and food services represented 65%. (7) Primarily loans belonging to industrial sectors not included in the above sectors, which do not individually represent more than 1 percent of the total loan portfolio, and residential and other consumer loans which represented approximately 24% of total loans. ($ in millions) Real Estate Non-Real Estate Total % Total Loans Financial Sector (1) $ 10 $ 310 $ 320 4.9 % Construction and Real Estate & Leasing: Commercial real estate loans 2,268 — 2,268 34.6 % Other real estate related services and equipment leasing (2) 163 93 256 3.9 % Total construction and real estate & leasing 2,431 93 2,524 38.5 % Manufacturing: Foodstuffs, Apparel 57 43 100 1.5 % Metals, Computer, Transportation and Other 27 57 84 1.3 % Chemicals, Oil, Plastics, Cement and Wood/Paper 23 — 23 0.3 % Total Manufacturing 107 100 207 3.2 % Wholesale (3) 82 225 307 4.7 % Retail Trade (4) 190 155 345 5.2 % Services: Non-Financial Public Sector — 17 17 0.3 % Communication, Transportation, Health and Other (5) 123 208 331 5.0 % Accommodation, Restaurants, Entertainment and other services (6) 104 224 328 5.0 % Electricity, Gas, Water, Supply and Sewage Services 3 77 80 1.2 % Total Services 230 526 756 11.5 % Primary Products: Agriculture, Livestock, Fishing and Forestry 1 3 4 — % Mining — 7 7 0.1 % Total Primary Products 1 10 11 0.1 % Other Loans (7) 1,689 404 2,093 31.9 % Total Loans $ 4,740 $ 1,823 $ 6,563 100.0 % March 31, 2026

 

20 CRE Type FL TX NY Other Total % Total CRE % Total Loans (1) Income Producing (2) Land and Construction Retail $ 462 $ 10 $ 62 $ 26 $ 560 24.7 % 8.5 % $ 562 $ — Multifamily 324 15 45 77 461 20.3 % 7.0 % 261 199 Office 317 39 19 90 465 20.5 % 7.1 % 459 7 Hotels 175 28 — 8 211 9.3 % 3.2 % 187 25 Industrial 77 — — 32 109 4.8 % 1.7 % 109 — Specialty 179 — — 48 227 10.0 % 3.5 % 184 40 Land 210 — — 25 235 10.4 % 3.6 % — 235 Total CRE $ 1,744 $ 92 $ 126 $ 306 $ 2,268 100.0 % 34.6 % $ 1,762 $ 506 Outstanding as of March 31, 2026 ($ in millions) This geographic segmentation is based on collateral location (1) Calculated as a percentage of loans held for investment only. (2) Income producing properties include non-owner occupied and multi-family residential loans. CRE Loans Held For Investment - Detail

 

21 24% 28% 30% 18% —% 50% or less 50- 60% 60- 70% 70- 80% 80% or more 0% 10% 20% 30% 40% 50% 60% • Florida primarily includes neighborhood shopping centers or service centers with basic needs related anchor stores, as well as the retail corridor in Miami Beach • New York primarily includes high traffic retail corridors with proximity to public transportation services • Single-tenant consists of one loan in Troy, MI (Gym) and one loan in South Florida (Healthcare) CRE Retail (1) Retail - LTV (2) Sporting & Recreational Goods; 79% Healthcare; 21% CRE Retail - Single Tenant (1) (1) CRE retail loans held for investment above $3.0 million (2) LTV at origination Total: $497 million Loan Portfolio Percentage: 7.6% Total: $15 million Loan Portfolio Percentage: 0.2% Neighborhood Center; 35.0% Strip/Convenience; 29.0% Community Center; 21.0% Theme/Festival Center; 6.0% Single Tenant; 3.0% Retail Storefront; 2.0% Regional Center; 2.0% Others; 2.0% CRE Retail - Detail As of March 31, 2026 Weighted Average LTV: 59 %

 

22 New York; 4% Texas; 9% Florida; 68% Other ; 19.0% 15% 28% 49% 8% —% 50% or less 51-60% 61-70% 71-80% 81% or more 0% 10% 20% 30% 40% 50% 60% CRE office above $3 million represents 25 loans totaling $448 million, or 98% of total CRE office with avg. debt-service coverage (DSCR) (3) 1.6x and LTV 63% ◦ Florida: 18 loans totaling $303 million (51% Miami-Dade, 34% Broward, 5% Palm Beach, 8% Duval, and 1% Hillsborough) with avg. DSCR 1.6x and LTV 62% ◦ New York: 1 loan totaling $19 million (Westchester) with avg. DSCR 1.5x and LTV 48% ◦ Texas: 2 loans totaling $39 million (100% Dallas) with avg. DSCR 1.6x and LTV 66% ◦ Other: 3 loans totaling $87 million (71% Memphis, TN, 6% Atlanta, GA and 23% Other) with avg. DSCR 1.3x and LTV 69% ◦ CRE Office (1) Office - LTV (2) (1) CRE office loans held for investment above $3 million (2) LTV at origination (3) DSCR based upon most recent borrower information Total: $448 million Loan Portfolio Percentage: 6.8% CRE Office - Detail As of March 31, 2026 Weighted Average LTV: 60%

 

23 $7,895 $7,854 $7,787 $7,939 $5,430 $5,278 $5,168 $5,229 $2,465 $2,576 $2,619 $2,710 Domestic Deposits International Deposits 2023 2024 2025 1Q26 ($ in millions) 34% of Total Deposits Avg. account balance(1): $46,000 66% of Total Deposits Avg. account balance (1): $124,000 Domestic and International Deposit Details (1) Average deposit account balances calculated as of December 31, 2025

 

24 New Branch Performance Actual balances as of March 31, 2026 ($ in millions) Total deposit and loan balances reflect Retail and Business Banking, Private Banking and International Banking (in-branch only) accounts booked and excludes commercial balances. As of December 31, 2025 As of March 31, 2026 Banking Center Opening Date Total Deposits Total Loans Total Deposits Total Loans Key Biscayne 6/26/2023 $100 $15 $103 $2 W. Kennedy Tampa 2/1/2024 $61 $10 $45 $47 Las Olas 3/5/2024 $109 $26 $97 $38 Palm Beach 4/14/2025 $59 $26 $82 $36 Downtown Miami 4/26/2024 $172 $113 $181 $174 Miami Beach 9/11/2025 $8 $2 $10 $2 Downtown Tampa 10/16/2025 $16 $— $15 $0.2 Bay Harbor Island 1/2/2026 n/a n/a $2 $0.2

 

25 <1 year; 65% 1-3 years; 3% 4-5 years; 2% 5+ years; 30% 303 315 321 326 335 345 347 -200 bps -100 bps -50 bps BASE +50 bps +100 bps +200 bps 0 200 400 As of March 31, 2026 Fixed 39% Adjustable 61% 25 By Interest TypeBy Rate Type By Repricing Term (1) NII and percentage change represents the base scenario of net interest income. The base scenario assumes (i) flat interest rates over the next 12 months, (ii) that total financial instrument balances are kept constant over time and (iii) that interest rate shocks are instant and parallel to the yield curve (2) Totals may not sum due to rounding Loan Portfolio Details Impact on NII from Interest Rate Change (1)(2) AFSChange from base ($ in M ill io n s) Fixed 39% UST 2%Prime 12% SOFR 47% As of March 31, 2026 Impact on AFS from Interest Rate Change (1) (7.1)% (3.2)% 0% 5.8%2.8% (1.5)% 6.4% No Floor; 56% 0.5-2%; 3% 2-3.5%; 12% 3.5-5%; 7% 5-6.75%; 22% By Floors 2,509 2,465 2,425 2,370 2,309 2,245 2,112 -200 bps -100 bps -50 bps MV +50 bps +100 bps +200 bps ($ in M ill io n s) 5.9% 4.0% 2.3% 0% (2.6)% (5.3)% (10.9)% Expected pre-tax AOCL Improvement Change from MVNet Interest Income (29,544) (12,987) 1Q26 1Q27 (estimated) (40,000) (20,000) — approx. 56% improvement in AOCL Interest Rate Sensitivity

 

26 $19.5 $19.8 $17.3 $22.0 $17.4 $5.1 $5.0 $5.1 $4.9 $4.9 $4.7 $5.0 $5.0 $5.3 $5.5 $1.7 $1.2 $2.1 $0.5 $8.1 $6.7 $5.0 $8.4 $5.0 $1.5 $3.2 $2.4 $1.4 $1.5 1Q25 2Q25 3Q25 4Q25 1Q26 -10 0 10 20 30 28% 72% 25% 75% Noninterest Income Mix Deposits and service fees Brokerage, advisory and fiduciary activities Other noninterest income (1) DomesticInternational 1Q25 $3.4B ($ in millions) Securities gains, net Loan-related derivative income Derivative losses, net Noninterest Income Mix $2.9B Assets Under Management and Custody 1Q26 $(0.2) (1) Other noninterest income in 4Q25 includes $3.3 million gain on the sale and leaseback of two banking centers. $(1.4)$(1.9)

 

27 $71.6 $74.4 $77.8 $106.8 $66.9 $33.3 $36.0 $35.1 $38.8 $32.0 $38.3 $38.4 $42.7 $68.0 $34.9 726 692 704 694 699 Salaries and employee benefits Other operating expenses FTEs 1Q25 2Q25 3Q25 4Q25 1Q26 0 30 60 90 120 Noninterest Expense Mix ($ in millions, except for FTEs) Noninterest Expense (1) 1Q26 includes $1.8 million of net losses on loans held for sale carried at the lower of cost or fair value. Also includes $3.3 million savings in vendor contract renegotiations, $1.7 million in write-down of an equity investment carried at cost. (1)

 

28 Change in Diluted Earnings Per Common Share $0.07 $0.62 $(0.15) $0.01 $(0.11) $0.44 4Q25 PPNR Income Tax Expense Impact of Repurchases Provision for Credit Losses 1Q26 $(0.20) $— $0.20 $0.40 $0.60 $0.80 EPS Trend (1) Non-GAAP Financial Measure. See Appendix 1 for a reconciliation to GAAP. (1)

 

Appendices

 

30 Appendix 1 Non-GAAP Financial Measures Reconciliations The following table sets forth selected financial information derived from the Company’s interim unaudited and annual audited consolidated financial statements, adjusted for certain items, including the provision for credit losses, income taxes and goodwill and other intangible assets. The Company believes these adjusted numbers are useful to understand the Company’s performance and underlying trends. Three Months Ended, (in thousands) March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 Net income attributable to Amerant Bancorp Inc. $ 17,873 $ 2,701 $ 14,756 $ 23,002 $ 11,958 Plus: provision for credit losses (1) 7,800 3,490 14,600 6,060 18,446 Plus: provision for income tax expense (benefit) 5,070 (794) 4,252 6,795 3,471 Pre-tax Pre-provision net revenue (PPNR) 30,743 5,397 33,608 35,857 33,875 Three Months Ended, (in thousands, except percentages, share data and per share amounts) March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 Stockholders' equity $ 913,918 $ 938,802 $ 944,940 $ 924,286 $ 906,263 Less: goodwill and other intangibles (2) (22,933) (23,103) (23,784) (24,016) (24,135) Tangible common stockholders' equity $ 890,985 $ 915,699 $ 921,156 $ 900,270 $ 882,128 Total assets 9,903,514 9,777,018 10,410,199 10,334,678 10,169,688 Less: goodwill and other intangibles (2) (22,933) (23,103) (23,784) (24,016) (24,135) Tangible assets $ 9,880,581 $ 9,753,915 $ 10,386,415 $ 10,310,662 $ 10,145,553 Common shares outstanding 39,803,607 40,595,273 41,265,378 41,748,434 41,952,590 Tangible common equity ratio 9.02 % 9.39 % 8.87 % 8.73 % 8.69 % Stockholders' book value per common share $ 22.96 $ 23.13 $ 22.90 $ 22.14 $ 21.60 Tangible stockholders' equity book value per common share $ 22.38 $ 22.56 $ 22.32 $ 21.56 $ 21.03 (1) Includes provisions for credit losses on loans and provision for loan contingencies. (2) Other intangible assets primarily consist of naming rights and mortgage servicing rights (“MSRs”). Other intangible assets are included in other assets in the Company’s consolidated balance sheets.

 

31 Income Statement Highlights - 1Q26 vs 4Q25 ($ in thousands) 1Q26 4Q25 Change Total Interest Income Loans $ 102,674 $ 114,824 $ (12,150) Investment securities 27,682 27,044 638 Interest earning deposits with banks and other interest income 2,661 5,314 (2,653) Total Interest Expense Interest bearing demand, savings and money market deposits 26,365 28,387 (2,022) Time deposits 18,254 19,798 (1,544) Advances from FHLB 6,846 7,518 (672) Subordinated notes 361 361 — Junior subordinated debentures 910 967 (57) Securities sold under agreements to repurchase — 1 (1) Total Provision for Credit Losses 7,800 3,490 4,310 Total Noninterest Income 17,381 22,019 (4,638) Total Noninterest Expense 66,919 106,772 (39,853) Income Tax Expense (benefit) 5,070 (794) 5,864 Net Income Attributable to Amerant Bancorp Inc. $ 17,873 $ 2,701 $ 15,172

 

32 • ACL - Allowance for Credit Losses • AFS - Available for Sale • AOCL - Accumulated Other Comprehensive Loss • AUM - Assets Under Management • CET 1 - Common Equity Tier 1 capital ratio • CRE - Commercial Real Estate • Customer CDs - Customer certificate of deposits • EPS – Earnings per Share • FHLB - Federal Home Loan Bank • FTE - Full Time Equivalent Glossary • MBS - Mortgage-Backed Security • MV - Market Value • NCO - Net Charge-Offs • NII - Net Interest Income • NIM – Net Interest Margin • NPA - Non-Performing Assets • NPL - Non-Performing Loans • ROA - Return on Assets • ROE - Return on Equity • TCE ratio – Tangible Common Equity ratio

 

33Glossary (cont'd) • Assets under management and custody: consists of assets held for clients in an agency or fiduciary capacity which are not assets of the Company and therefore are not included in the consolidated financial statements. • Core deposits: consist of total deposits excluding all time deposits • Total gross loans: include loans held for investment net of unamortized deferred loan origination fees and costs, as well as loans held for sale. • Cost of Total Deposits: calculated based upon the average balance of total noninterest bearing and interest bearing deposits, which includes time deposits. • ROA: calculated based upon the average daily balance of total assets • ROE: calculated based upon the average daily balance of stockholders' equity • Loans Held for Investment: excludes loans held for sale carried at fair value and loans held for sale carried at the lower of cost or fair value • Non-performing loans include accruing loans past due by 90 days or more and all nonaccrual loans. Non-performing assets include accruing loans past due by 90 days or more, all nonaccrual loans, other real estate owned ("OREO") properties acquired through or in lieu of foreclosure and other repossessed assets. • Net Charge Offs/Average Total Loans Held for Investment: – Annualized and calculated based upon the average daily balance of outstanding loan principal balance net of unamortized deferred loan fees and costs, excluding the allowance for credit losses – Total loans exclude loans held for sale • Cost of Deposits: calculated based upon the average balance of total noninterest bearing and interest bearing deposits, which includes time deposits. • Cost of Funds: calculated based upon the average balance of total financial liabilities which include total interest bearing liabilities and noninterest bearing demand deposits • Quarterly beta (as shown in NII & NIM Slide): calculated based upon the change of the cost of deposit over the change of Federal funds rate (if any) during the quarter. • Net Charge-Offs -charge-offs net of recoveries • Totals may not sum due to rounding of line items. • In the first quarter of 2026, the Company early adopted ASU 2025-08, which expands the use of the gross-up approach for certain purchased loans and eliminates Day 1 credit loss expense. As a result, the Company recorded an allowance for credit losses of $0.5 million on approximately $36.8 million of acquired loans, with no day 1 impact to earnings.

 

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CONTACTS:
Investors
Laura Rossi
InvestorRelations@amerantbank.com
(305) 460-8728
Media
Alexis Dominguez
MediaRelations@amerantbank.com


AMERANT BANCORP INC. DECLARES DIVIDEND

CORAL GABLES, FLORIDA, April 23, 2026. Amerant Bancorp Inc. (NYSE: AMTB) (the “Company” or “Amerant”) today announced that, on April 22, 2026, the Company’s Board of Directors declared a cash dividend of $0.09 per-share of Amerant common stock. The dividend is payable on May 29, 2026, to shareholders of record at the close of business on May 15, 2026.

About Amerant Bancorp Inc. (NYSE: AMTB)
Amerant Bancorp Inc. is a bank holding company headquartered in Coral Gables, Florida since 1979. The Company operates through its main subsidiary, Amerant Bank, N.A. (the “Bank”), as well as its other subsidiary, Amerant Investments, Inc. The Company provides individuals and businesses with deposit, credit and wealth management services. The Bank, which has operated for over 45 years, is headquartered in Florida and operates 23 banking centers – 21 in South Florida and 2 in Tampa, FL. For more information, visit investor.amerantbank.com
1

Source: View Original Filing on SEC EDGAR

FAQ

How did Amerant Bancorp (AMTB) perform financially in Q1 2026?

Amerant Bancorp reported net income of $17.9 million in Q1 2026, or $0.44 per diluted share. This compares to $2.7 million, or $0.07 per diluted share, in Q4 2025, reflecting significantly improved profitability driven mainly by lower noninterest expenses.

What happened to Amerant Bancorp’s net interest margin and net interest income in Q1 2026?

Net interest income was $80.3 million in Q1 2026, down from $90.2 million in Q4 2025. Net interest margin compressed to 3.55% from 3.78%, as asset yields declined more than funding costs while the balance sheet shifted toward more securities and lower cash balances.

How did Amerant Bancorp’s asset quality metrics change in Q1 2026?

Total non-performing assets were $191.6 million in Q1 2026, up from $186.9 million. Classified loans decreased to $320.3 million from $354.8 million, but non-performing loans increased to $176.1 million, and net charge-offs were 0.45% of average total loans held for investment.

What capital return actions did Amerant Bancorp take in Q1 2026?

Amerant repurchased 859,493 Class A common shares at a weighted average price of $21.77, for about $18.7 million including costs. The board also declared a quarterly cash dividend of $0.09 per share, payable May 29, 2026, to shareholders of record on May 15, 2026.

What were Amerant Bancorp’s key balance sheet figures at March 31, 2026?

At March 31, 2026, Amerant reported $9.9 billion in total assets, $6.8 billion in total gross loans, and $7.9 billion in total deposits. Core deposits were $5.9 billion, while assets under management and custody totaled $3.4 billion, reflecting modest growth versus the prior quarter.

What guidance did Amerant Bancorp provide for Q2 2026?

For Q2 2026, Amerant projected total loans reaching about $7 billion and total deposits about $8 billion. Management expects net interest margin between 3.40–3.50% and quarterly noninterest expenses around $68–$69 million, aiming for an efficiency ratio near 60% over time.

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