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Amerant Bancorp Inc. (AMTB) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 30, 2020

Mercantil Bank Holding Corp

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CIK: 1734342 Ticker: AMTB
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AMERANT BANCORP INC. REPORTS THIRD QUARTER RESULTS


CORAL GABLES, FLORIDA, October 29, 2020. Amerant Bancorp Inc. (NASDAQ: AMTB and AMTBB) (the “Company” or “Amerant”) today reported third quarter of 2020 net income of $1.7 million, compared to a net loss of $15.3 million reported in the second quarter of 2020 and net income of $11.9 million reported in the third quarter of 2019. Net loss for the nine months ended September 30, 2020 was $10.2 million, compared to net income of $37.9 million reported in the nine months ended September 30, 2019. Operating income was $11.5 million in the third quarter of 2020, down 46.6% from $21.6 million in the second quarter of 2020, and down 9.8% from $12.8 million in the same period of 2019. Operating income was $49.8 million for the nine months ended September 30, 2020, up 14.5% from $43.5 million in the same period of 2019.
Annualized return on assets (“ROA”) and return on equity (“ROE”) were positive 0.08% and 0.81%, respectively, in the third quarter of 2020, compared to negative 0.75% and 7.21%, respectively, in the second quarter of 2020, and positive 0.60% and 5.81%, respectively, in the third quarter of 2019. ROA and ROE for the first nine months of 2020 were negative 0.17% and 1.62%, respectively, compared to positive 0.64% and 6.43%, respectively, for the first nine months of 2019.
Millar Wilson, Vice Chairman and Chief Executive Officer, said, “In the third quarter and subsequent weeks, we pushed forward on our relationship-driven, digitally-enabled strategy and efficiency efforts, which continue to create value. We made impressive progress on our digital transformation this quarter and expect to achieve a number of important milestones in the coming quarters that further support our growth strategy. We also improved our engagement with our customers and increased our share of wallet with them. Finally, we continued to push ahead with initiatives that better align our operating structure with our business, which included the adoption of voluntary early retirement and involuntary severance plans earlier this month.”

Mr. Wilson continued, “I want to highlight a couple of notable achievements in the third quarter. First, loan deferrals and forbearance fell drastically this quarter and have continued to decline reaching $71.8 million, or just over 1% of total loans, on October 23, 2020, down from $1.1 billion, or 19% of total loans, at the start of our program in April. This represents a significant improvement to the outlook of our credit quality for future quarters. Importantly, we recorded the lowest loan loss provision so far this year. This speaks to Amerant’s solid credit management capabilities under the most difficult of conditions contributing to improved results in the third quarter. I am pleased to report that our NIM remained virtually unchanged from the
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The following information was filed by Mercantil Bank Holding Corp (AMTB) on Thursday, October 29, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Mercantil Bank Holding Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Changes In Stockholders' Equity (Unaudited)
Consolidated Statements Of Operations And Comprehensive (Loss) Income (Unaudited)
Accumulated Other Comprehensive Income (???Aoci???)
Accumulated Other Comprehensive Income (???Aoci???) (Tables)
Accumulated Other Comprehensive Income (???Aoci???) - Componenets Of Aocl (Details)
Accumulated Other Comprehensive Income (???Aoci???) - Components Of Other Comprehensive Loss (Details)
Advances From The Federal Home Loan Bank And Other Borrowings
Advances From The Federal Home Loan Bank And Other Borrowings (Details)
Advances From The Federal Home Loan Bank And Other Borrowings (Tables)
Allowance For Loan Losses
Allowance For Loan Losses (Tables)
Allowance For Loan Losses - Allowances By Loan Segment (Details)
Allowance For Loan Losses - Credit Risk Quality (Details)
Allowance For Loan Losses - Impaired Loans (Details)
Allowance For Loan Losses - Recorded Investment Of Loan Sales (Details)
Allowance For Loan Losses - Tdr Loans (Details)
Business, Basis Of Presentation And Summary Of Significant Accounting Policies
Business, Basis Of Presentation And Summary Of Significant Accounting Policies (Details)
Business, Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)
Business, Basis Of Presentation And Summary Of Significant Accounting Policies (Tables)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Narrative (Details)
Commitments And Contingencies - Summary Of Off-Balance Sheet Credit Risk (Details)
Derivative Instruments
Derivative Instruments (Tables)
Derivative Instruments - Narrative (Details)
Derivative Instruments - Schedule Of Derivatives (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details)
Fair Value Measurements - Narrative (Details)
Fair Value Measurements - Summary Of Financial Instruments Where Fair Value Differes From Carrying Value (Details)
Income Taxes
Income Taxes (Details)
Interest Earning Deposits With Banks
Interest Earning Deposits With Banks (Details)
Junior Subordinated Debentures Held By Trust Subsidiaries
Junior Subordinated Debentures Held By Trust Subsidiaries (Tables)
Junior Subordinated Debentures Held By Trust Subsidiaries - Narrative (Details)
Junior Subordinated Debentures Held By Trust Subsidiaries - Outstanding Securities (Details)
Loans
Loans (Tables)
Loans - Loan Portfolio By Classes (Details)
Loans - Loan Portfolio By Countries (Details)
Loans - Loans By Delinquency (Details)
Loans - Narrative (Details)
Securities
Securities (Tables)
Securities - Amortized Cost To Fair Value Of Available For Sale Securities (Details)
Securities - Contractual Maturities On Securities (Details)
Securities - Gross Realized Gains (Losses) (Details)
Securities - Narrative (Details)
Securities - Unrealized Loss On Available For Sale Securities (Details)
Senior Notes
Senior Notes (Details)
Stock-Based Incentive Compensation Plan
Stock-Based Incentive Compensation Plan (Tables)
Stock-Based Incentive Compensation Plan - Additional Information (Details)
Stock-Based Incentive Compensation Plan - Restricted Stock (Details)
Stock-Based Incentive Compensation Plan - Restricted Stock Units (Details)
Stockholders??? Equity
Stockholders??? Equity (Details)
Time Deposits
Time Deposits (Details)

Material Contracts, Statements, Certifications & more

Mercantil Bank Holding Corp provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Exhibit 32.2: Section 1350 Certification
Ticker: AMTB
CIK: 1734342
Form Type: 10-Q Quarterly Report
Accession Number: 0001734342-20-000069
Submitted to the SEC: Fri Nov 06 2020 5:21:36 PM EST
Accepted by the SEC: Fri Nov 06 2020
Period: Wednesday, September 30, 2020
Industry: National Commercial Banks

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