v3.24.1.u1
Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest income    
Loans $ 122,705 $ 108,501
Investment securities 16,091 13,299
Interest earning deposits with banks and other interest income 5,829 3,330
Total interest income 144,625 125,130
Interest expense    
Interest bearing demand deposits 17,736 12,855
Savings and money market deposits 14,861 7,927
Time deposits 26,124 12,834
Advances from the Federal Home Loan Bank 5,578 6,763
Senior notes 943 942
Subordinated notes 361 361
Junior subordinated debentures 1,054 1,115
Total interest expense 66,657 42,797
Net interest income 77,968 82,333
Provision for credit losses 12,400 11,700
Net interest income after provision for credit losses 65,568 70,633
Noninterest income    
Deposits and service fees 4,325 4,955
Brokerage, advisory and fiduciary activities 4,327 4,182
Change in cash surrender value of bank owned life insurance 2,342 1,412
Loan-level derivative income 466 2,071
Cards and trade finance servicing fees 1,223 533
Gain on early extinguishment of advances from the Federal Home Loan Bank, net 0 13,173
Derivative (losses) gains, net (152) 14
Securities losses, net (54) (9,731)
Other noninterest income 2,011 2,734
Total noninterest income 14,488 19,343
Noninterest expense    
Salaries and employee benefits 32,958 34,876
Professional and other services fees 10,963 7,628
Occupancy and equipment 6,476 6,798
Telecommunication and data processing 3,533 3,064
Advertising expenses 3,078 2,586
FDIC assessments and insurance 3,008 2,737
Depreciation and amortization 1,477 1,292
Loan-level derivative expense 4 1,600
Other real estate owned and repossessed assets (income) expense, net (354) 0
Other operating expenses 5,451 4,152
Total noninterest expenses 66,594 64,733
Income before income tax expense 13,462 25,243
Income tax expense (2,894) (5,301)
Net income before attribution of noncontrolling interest 10,568 19,942
Noncontrolling interest 0 (244)
Net income attributable to Amerant Bancorp Inc. 10,568 20,186
Other comprehensive loss, net of tax    
Net unrealized holding (losses) gains on debt securities available for sale arising during the period (5,104) 6,117
Net unrealized holding gains (losses) on cash flow hedges arising during the period 227 (188)
Reclassification adjustment for items included in net income (211) 387
Other comprehensive (loss) income (5,088) 6,316
Comprehensive income $ 5,480 $ 26,502
Earnings Per Share (Note 13):    
Basic earnings per common share (in dollars per share) $ 0.32 $ 0.60
Diluted earnings per common share (in dollars per share) $ 0.31 $ 0.60

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