v3.25.2
Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest income        
Loans $ 122,166 $ 124,117 $ 243,187 $ 246,822
Investment securities 23,212 16,950 42,131 33,041
Interest earning deposits with banks and other interest income 5,717 5,342 12,185 11,171
Total interest income 151,095 146,409 297,503 291,034
Interest expense        
Interest bearing demand deposits 11,567 16,779 22,021 34,515
Savings and money market deposits 18,030 14,999 34,705 29,860
Time deposits 22,285 25,971 46,143 52,095
Advances from the Federal Home Loan Bank 7,230 6,946 14,430 12,524
Senior notes 78 941 1,020 1,884
Subordinated notes 361 361 722 722
Junior subordinated debentures 1,064 1,055 2,078 2,109
Securities sold under agreements to repurchase 1 2 1 2
Total interest expense 60,616 67,054 121,120 133,711
Net interest income 90,479 79,355 176,383 157,323
Provision for credit losses 6,060 19,150 24,506 31,550
Net interest income after provision for credit losses 84,419 60,205 151,877 125,773
Noninterest income        
Deposits and service fees 4,968 5,281 10,105 9,606
Brokerage, advisory and fiduciary activities 4,993 4,538 9,722 8,865
Gain on early extinguishment of advances from the Federal Home Loan Bank, net 0 189 0 189
Loan-level derivative income 3,204 2,357 4,712 2,823
Change in cash surrender value of bank owned life insurance 2,490 2,242 4,940 4,584
Cards and trade finance servicing fees 1,804 1,331 3,196 2,554
Derivative losses, net (1,852) (44) (1,852) (196)
Securities gains (losses), net 1,779 (117) 1,843 (171)
Other noninterest income 2,392 3,643 6,637 5,654
Total noninterest income 19,778 19,420 39,303 33,908
Noninterest expense        
Salaries and employee benefits 36,036 33,857 69,383 66,815
Professional and other services fees 13,549 12,110 28,231 23,073
Occupancy and equipment 5,491 9,041 11,627 15,517
Telecommunication and data processing 2,929 2,732 6,404 6,265
Advertising expenses 4,819 4,243 8,454 7,321
FDIC assessments and insurance 2,896 2,772 6,132 5,780
Depreciation and amortization 1,551 1,652 3,139 3,129
Loan level derivative expense 1,113 580 1,473 584
Other real estate owned and repossessed assets expense (income), net 601 (148) 765 (502)
Losses on loans held for sale carried at the lower cost or fair value 0 1,258 0 1,258
Other operating expenses 5,415 5,205 10,346 10,656
Total noninterest expenses 74,400 73,302 145,954 139,896
Income before income tax expense 29,797 6,323 45,226 19,785
Income tax expense (6,795) (1,360) (10,266) (4,254)
Net income attributable to Amerant Bancorp Inc. 23,002 4,963 34,960 15,531
Other comprehensive income (loss), net of tax        
Net unrealized holding gains (losses) on debt securities available for sale arising during the period 1,784 (2,978) 14,476 (8,082)
Net unrealized holding gains on cash flow hedges arising during the period 173 70 186 297
Reclassification adjustment for items included in net income (131) (123) (304) (334)
Other comprehensive income (loss) 1,826 (3,031) 14,358 (8,119)
Comprehensive income $ 24,828 $ 1,932 $ 49,318 $ 7,412
Earnings Per Share (Note 13):        
Basic earnings per common share (in dollars per share) $ 0.55 $ 0.15 $ 0.83 $ 0.46
Diluted earnings per common share (in dollars per share) $ 0.55 $ 0.15 $ 0.83 $ 0.46

Source

HTML PDF
ZIP