Loading...
•
Sep 30, 2021
Amerant Q3 2021 Earnings Report
Reported net income of $17.0 million and diluted earnings per share of $0.45, showing continued improvement in key performance metrics.
Key Takeaways
Amerant Bancorp Inc. reported a net income attributable to the company of $17.0 million for Q3 2021, which translates to $0.45 per diluted share. This represents an increase from the $1.7 million, or $0.04 per diluted share, reported in Q3 2020.
Net income was $17.0 million in the third quarter of 2021, up 6.7% from $16.0 million in the second quarter of 2021, and up 900.7% from $1.7 million in the third quarter of 2020.
Net Interest Income (“NII”) was $51.8 million, up 3.7% from $50.0 million in the second quarter of 2021, and up 14.3% from $45.3 million in the third quarter of 2020.
The efficiency ratio was 74.2% in the third quarter of 2021, compared to 77.8% in the second quarter of 2021, and 69.3% for the third quarter of 2020.
Total loans were $5.5 billion at the close of the third quarter of 2021, down $129.6 million, or 2.3%, compared to the close of the second quarter of 2021. Total deposits were $5.6 billion at the close of the third quarter of 2021, slightly down $48.5 million, or 0.9%, compared to the close of the second quarter of 2021.
Revenue by Geographic Location
Forward Guidance
Amerant is focused on operating efficiency and exploring potential expansion opportunities within its core footprint.
Positive Outlook
- Signed agreements with Alloy and ClickSWITCH® to enhance customer onboarding and simplify direct deposit switching.
- Signed a 10-year lease for a new operations center in Miramar, Florida, to be relocated by the end of 2022.
- Closed a banking center in Wellington, FL in October 2021.
- Submitted an application to the OCC to open a new branch in downtown Miami.
- The Company’s capital continues to be strong and well in excess of the minimum regulatory requirements to be considered “well-capitalized” at September 30, 2021.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...