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Jun 30, 2023
Amerant Q2 2023 Earnings Report
Reported net income of $7.3 million, driven by strong organic deposit growth and a solid net interest margin.
Key Takeaways
Amerant Bancorp Inc. reported a net income attributable to the company of $7.3 million, or $0.22 per diluted share, for the second quarter of 2023. The company saw strong organic deposit growth and solid growth in pre-provision net revenue, driven primarily by a strong net interest margin.
Total assets increased $24.2 million, or 0.3%, to $9.5 billion compared to 1Q23.
Total gross loans increased $101.9 million, or 1.4%, to $7.22 billion compared to $7.12 billion in 1Q23.
Total deposits were $7.58 billion, up $292.8 million, or 4.0%, compared to $7.29 billion in 1Q23.
Pre-provision net revenue was $38.3 million in 2Q23, an increase of $1.1 million or 2.9%, compared to $37.2 million in 1Q23.
Revenue by Geographic Location
Forward Guidance
The company remains keenly focused on driving profitable growth and achieving its goal of becoming the bank of choice in the markets it serves.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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