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Sep 30, 2023
Amerant Q3 2023 Earnings Report
Reported improved operating results driven by strong organic deposit growth and reduced higher cost institutional deposits.
Key Takeaways
Amerant Bancorp Inc. reported a significantly improved net income attributable to the Company of $22.1 million, or $0.66 per diluted share, in the third quarter of 2023, compared to $7.3 million, or $0.22 per diluted share, in the second quarter of 2023. The company focused on organic deposit growth, enabling a reduction in higher-cost institutional deposits.
Total assets decreased to $9.3 billion, a decrease of 1.8% compared to the previous quarter.
Total gross loans were $7.14 billion, a decrease of 1.0% compared to the previous quarter.
Total deposits were $7.55 billion, down 0.4% from the previous quarter, but included $208 million in organic deposit growth.
Net Interest Margin (NIM) was 3.57% in 3Q23, compared to 3.83% in 2Q23.
Revenue by Geographic Location
Forward Guidance
The Company looks forward to completing the systems conversion in the fourth quarter and focusing on business development and customer service.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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