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Dec 31, 2019
Amerant Q4 2019 Earnings Report
Amerant's financial performance reflected a decrease in net income and net interest income but an increase in noninterest income, driven by strategic initiatives and market factors.
Key Takeaways
Amerant Bancorp Inc. reported a net income of $13.5 million for Q4 2019, a decrease of 6.6% compared to Q4 2018. The decrease was influenced by lower market rates and a spread compression environment, affecting earnings assets, coupled with higher deposit costs. Noninterest income increased by 33.3%, driven by a gain on the sale of vacant land and increased fees from derivative contracts.
Net income decreased by 6.6% compared to the fourth quarter of 2018, totaling $13.5 million.
Net interest income decreased by 9.7% compared to the fourth quarter of 2018, amounting to $51.3 million.
Noninterest income increased by 33.3% compared to the fourth quarter of 2018, reaching $16.0 million.
Credit quality remained strong, with a release of $0.3 million from the allowance for loan losses.