|Silvia M. Larrieu|
AMERANT REPORTS THIRD QUARTER 2022 RESULTS
Board of Directors Declares Cash Dividend of $0.09 per Common Share
CORAL GABLES, FLORIDA, October 20, 2022. Amerant Bancorp Inc. (NASDAQ: AMTB) (the “Company” or “Amerant”) today reported net income attributable to the Company of $20.9 million in the third quarter of 2022, or $0.62 per diluted share, an increase compared to net income attributable to the Company of $7.7 million, or $0.23 per diluted share, in the second quarter of 2022, and an increase compared to the net income attributable to the Company of $17.0 million, or $0.45 per diluted share, in the third quarter of 2021.
“We are pleased to report continued improvement in our operating results this quarter,” stated Chairman and CEO Jerry Plush. “Strong loan and deposit growth, coupled with a higher net interest margin, were key factors driving earnings growth for the period.”
•Total assets increased $588.7 million, or 7.22%, to $8.7 billion compared to $8.2 billion as of 2Q22.
•Total gross loans increased $656.0 million, or 11.2%, to $6.50 billion compared to $5.85 billion in 2Q22.
•Average yield on loans increased to 5.06% in 3Q22 compared to 4.38% in 2Q22.
•Non-performing loans declined $6.4 million, or 25.5%, to $18.7 million, as of 3Q22 compared to $25.2 million as of 2Q22.
•Total deposits as of 3Q22 were $6.59 billion, up $385.3 million, or 6.21%, compared to $6.20 billion in 2Q22.
•Core deposits were $5.20 billion, up $253.2 million, or 5.1%, compared to 2Q22.
•Average cost of total deposits increased to 0.83% in 3Q22 compared to 0.48% in 2Q22.
The following information was filed by Mercantil Bank Holding Corp (AMTB) on Thursday, October 20, 2022 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.