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Amerant Bancorp Inc. (AMTB) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

Mercantil Bank Holding Corp

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CIK: 1734342 Ticker: AMTB
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CONTACTS:
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Laura Rossi
InvestorRelations@amerantbank.com
(305) 460-8728
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Silvia M. Larrieu
media@amerantbank.com
(305) 441-8414


AMERANT REPORTS FIRST QUARTER 2021 NET INCOME OF $14.5 MILLION, DILUTED EARNINGS PER SHARE OF $0.38

Originated $81.5 million in Paycheck Protection Program (“PPP”) loans;
Reached $2 billion in Assets Under Management (“AUM”)

CORAL GABLES, FLORIDA, April 28, 2021
. Amerant Bancorp Inc. (NASDAQ: AMTB and AMTBB) (the “Company” or “Amerant”) today reported net income of $14.5 million in the first quarter of 2021, or $0.38 per diluted share, compared to $8.5 million, or $0.20 per diluted share, in the fourth quarter of 2020 and $3.4 million, or $0.08 per diluted share, in the first quarter of 2020. Pre-provision net revenue (“PPNR”) (non-GAAP) was $18.1 million in the first quarter of 2021, an increase from $8.5 million in the fourth quarter of 2020, and a decrease from $26.3 million in the first quarter of 2020.
Annualized return on assets (“ROA”) and return on equity (“ROE”) were 0.76% and 7.47%, respectively, in the first quarter of 2021, compared to 0.42% and 4.09%, respectively, in the fourth quarter of 2020, and 0.17% and 1.61%, respectively, in the first quarter of 2020.
“We are pleased to report improved results in the first quarter of 2021, compared with the prior quarter,” stated Jerry Plush, vice chairman and chief executive officer. “These positive results were driven primarily from higher non-interest income and lower expenses. Additionally, based on the adequacy of the loan loss allowance, there was no provision for loan losses this quarter. As we look forward for the balance of the year, we will be focused on core deposit growth, building brand awareness, rationalizing our business lines and geographies, driving cost efficiencies across the business and optimizing our capital, with a clear goal to continue on the path toward improved performance.”

Summary Results

The summary results of the first quarter ended March 31, 2021 were as follows:

•Net income of $14.5 million in the first quarter of 2021, up 70.7% from $8.5 million in the fourth quarter of 2020 and up 327.5% from $3.4 million in the first quarter of 2020.

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The following information was filed by Mercantil Bank Holding Corp (AMTB) on Wednesday, April 28, 2021 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???) - Components Of Aocl (Details)
Accumulated Other Comprehensive Income (???Aoci???) - Components Of Other Comprehensive Loss (Details)
Advances From The Federal Home Loan Bank
Advances From The Federal Home Loan Bank (Details)
Advances From The Federal Home Loan Bank (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)
Contingencies
Contingencies (Details)
Contingencies (Tables)
Derivative Instruments
Derivative Instruments (Tables)
Derivative Instruments - Credit Risk (Details)
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 - Assets Measured At Fair Value On A Nonrecurring Basis (Details)
Fair Value Measurements - Narrative (Details)
Fair Value Measurements - Summary Of Financial Instruments Where Fair Value Differs 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 (Details)
Junior Subordinated Debentures Held By Trust Subsidiaries (Tables)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Cost (Details)
Leases - Maturities (Details)
Loans
Loans (Tables)
Loans - Loan Portfolio By Classes (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)
Stock-Based Incentive Compensation Plan - Restricted Stock Units, Additional Information (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: 0001734342-21-000035
Submitted to the SEC: Fri May 07 2021 4:17:48 PM EST
Accepted by the SEC: Fri May 07 2021
Period: Wednesday, March 31, 2021
Industry: National Commercial Banks

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