v3.25.3
Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Interest income        
Loans $ 121,414 $ 129,752 $ 364,601 $ 376,574
Investment securities 26,737 17,127 68,868 50,168
Interest earning deposits with banks and other interest income 4,592 4,758 16,777 15,929
Total interest income 152,743 151,637 450,246 442,671
Interest expense        
Interest bearing demand deposits 10,892 15,345 32,913 49,860
Savings and money market deposits 18,008 16,830 52,713 46,690
Time deposits 20,950 27,260 67,093 79,355
Advances from the Federal Home Loan Bank 7,316 8,833 21,746 21,357
Senior notes 0 942 1,020 2,826
Subordinated notes 362 361 1,084 1,083
Junior subordinated debentures 1,063 1,067 3,141 3,176
Securities sold under agreements to repurchase 0 0 1 2
Total interest expense 58,591 70,638 179,711 204,349
Net interest income 94,152 80,999 270,535 238,322
Provision for credit losses 14,600 19,000 39,106 50,550
Net interest income after provision for credit losses 79,552 61,999 231,429 187,772
Noninterest income        
Deposits and service fees 5,056 5,046 15,161 14,652
Brokerage, advisory and fiduciary activities 4,995 4,466 14,717 13,331
Gain on early extinguishment of advances from the Federal Home Loan Bank, net 0 0 0 189
Loan-level derivative income 2,372 3,515 7,084 6,338
Change in cash surrender value of bank owned life insurance 2,554 2,332 7,494 6,916
Cards and trade finance servicing fees 1,321 1,430 4,517 3,984
Derivative losses, net (1,383) 0 (3,235) (196)
Securities gains (losses), net 1,203 (68,484) 3,046 (68,655)
Other noninterest income 1,173 4,012 7,810 9,666
Total noninterest income (loss) 17,291 (47,683) 56,594 (13,775)
Noninterest expense        
Salaries and employee benefits 35,094 34,979 104,477 101,794
Professional and other services fees 15,997 13,711 44,228 36,784
Occupancy and equipment 5,211 5,891 16,838 21,408
Telecommunication and data processing 3,155 2,991 9,559 9,256
Advertising expenses 3,987 3,468 12,441 10,789
FDIC assessments and insurance 2,549 2,863 8,681 8,643
Depreciation and amortization 1,487 1,737 4,626 4,866
Loan level derivative expense 1,834 1,802 3,307 2,386
Other real estate owned and repossessed assets expense, net 215 5,535 980 5,033
Losses on loans held for sale carried at the lower of cost or fair value 881 0 881 1,258
Other operating expenses 7,425 3,231 17,771 13,887
Total noninterest expenses 77,835 76,208 223,789 216,104
Income (loss) before income tax (expense) benefit 19,008 (61,892) 64,234 (42,107)
Income tax (expense) benefit (4,252) 13,728 (14,518) 9,474
Net income (loss) attributable to Amerant Bancorp Inc. 14,756 (48,164) 49,716 (32,633)
Other comprehensive income, net of tax        
Net unrealized holding gains on debt securities available for sale arising during the period 18,553 15,142 33,029 7,060
Net unrealized holding gains (losses) on cash flow hedges arising during the period 82 (205) 268 92
Reclassification adjustment for items included in net income (119) 51,017 (423) 50,683
Other comprehensive income 18,516 65,954 32,874 57,835
Comprehensive income $ 33,272 $ 17,790 $ 82,590 $ 25,202
Earnings Per Share (Note 13):        
Basic earnings (loss) per common share (in dollars per share) $ 0.35 $ (1.43) $ 1.19 $ (0.97)
Diluted earnings (loss) per common share (in dollars per share) $ 0.35 $ (1.43) $ 1.19 $ (0.97)

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