v3.24.0.1
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest income      
Loans $ 475,405 $ 293,210 $ 216,097
Investment securities 54,860 41,413 31,500
Interest earning deposits with banks and other interest income 18,314 4,153 247
Total interest income 548,579 338,776 247,844
Interest expense      
Interest bearing demand deposits 62,551 15,118 591
Savings and money market deposits 42,356 11,808 3,533
Time deposits 78,829 22,124 23,766
Advances from the Federal Home Loan Bank 28,816 15,092 8,595
Senior notes 3,766 3,766 3,768
Subordinated notes 1,445 1,172 0
Junior subordinated debentures 4,345 3,030 2,449
Securities sold under agreements to repurchase 7 1 1
Total interest expense 222,115 72,111 42,703
Net interest income 326,464 266,665 205,141
Provision for (reversal of) credit losses 61,277 13,945 (16,500)
Net interest income after provision for (reversal of) credit losses 265,187 252,720 221,641
Noninterest income      
Deposits and service fees 19,376 18,592 17,214
Brokerage, advisory and fiduciary activities 17,057 17,708 18,616
Gain (loss) on early extinguishment of advances from the Federal Home Loan Bank, net 40,084 10,678 (2,488)
Loan level derivative income 4,580 10,360 3,951
Change in cash surrender value of bank owned life insurance 5,173 5,406 5,459
Cards and trade finance servicing fees 3,067 2,276 1,771
Derivative gains, net 28 455 0
Gain on sale of headquarters building 0 0 62,387
Securities (losses) gains, net (10,989) (3,689) 3,740
Other noninterest income 9,120 5,491 9,971
Total noninterest income 87,496 67,277 120,621
Noninterest expense      
Salaries and employee benefits 133,506 123,510 117,585
Occupancy and equipment 27,843 27,393 20,364
Professional and other services fees 34,569 22,142 19,096
Telecommunication and data processing 15,485 14,735 14,949
Advertising expenses 12,811 11,620 3,382
Loan level derivative expense 1,910 8,146 815
Contract termination costs 1,550 7,103 0
FDIC assessments and insurance 10,601 6,598 6,423
Depreciation and amortization 6,842 5,883 7,269
Other real estate owned and repossessed assets expense, net 2,092 3,408 0
Losses on loans held for sale carried at the lower of cost or fair value 43,057 159 0
Other operating expenses 21,089 10,716 8,359
Total noninterest expenses 311,355 241,413 198,242
Income before income tax expense 41,328 78,584 144,020
Income tax expense (10,539) (16,621) (33,709)
Net income before attribution of noncontrolling interest 30,789 61,963 110,311
Noncontrolling interest (1,701) (1,347) (2,610)
Net income attributable to Amerant Bancorp Inc. 32,490 63,310 112,921
Other comprehensive income (loss), net of tax      
Net unrealized holding gains (losses) on debt securities available for sale arising during the period 9,357 (97,151) (12,960)
Net unrealized holding (losses) gains on cash flow hedges arising during the period (15) 220 137
Reclassification adjustment for items included in net income 497 1,079 (3,624)
Other comprehensive income (loss) 9,839 (95,852) (16,447)
Comprehensive income (loss) $ 42,329 $ (32,542) $ 96,474
Earnings Per Share (Note 23)      
Basic earnings per common share (in dollars per share) $ 0.97 $ 1.87 $ 3.04
Diluted earnings per common share (in dollars per share) $ 0.96 $ 1.85 $ 3.01

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