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Amerant Bancorp Inc. (AMTB) SEC Filing 10-Q Quarterly Report for the period ending Friday, September 30, 2022

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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
MediaRelations@amerantbank.com
(305) 441-8414



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.”
Financial Highlights:
•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.

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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.

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Assess how Mercantil Bank Holding Corp's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
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Mercantil Bank Holding Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

  • Voting Procedures
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  • Executive Team
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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 (Loss) Income (???Aocl/Aoci???)
Accumulated Other Comprehensive (Loss) Income (???Aocl/Aoci???) (Tables)
Accumulated Other Comprehensive (Loss) Income (???Aocl/Aoci???) - Components Of Aocl (Details)
Accumulated Other Comprehensive (Loss) Income (???Aocl/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 (Policies)
Business, Basis Of Presentation And Summary Of Significant Accounting Policies - Additional Information (Details)
Business, Basis Of Presentation And Summary Of Significant Accounting Policies - Stock Repurchase Programs And Proposed Clean-Up Merger (Details)
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 - Quantitative Information About Significant Unobservable Inputs Used In Fair Value Measurements (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 And Restricted Cash
Interest Earning Deposits With Banks And Restricted Cash (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 - Loans By Delinquency (Details)
Loans - Loans Held For Investments (Details)
Loans - Loans Held For Sale (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 - Held To Maturity Securities - Amortized Cost (Details)
Securities - Held To Maturity Securities - Unrealized 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 - Common Stock (Details)
Stockholders??? Equity - Dividends (Details)
Subordinated Notes
Subordinated Notes (Details)
Time Deposits
Time Deposits (Tables)
Time Deposits - Additional Information (Details)
Time Deposits - Schedule Of Maturities (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: 0001734342-22-000057
Submitted to the SEC: Fri Oct 28 2022 4:49:14 PM EST
Accepted by the SEC: Fri Oct 28 2022
Period: Friday, September 30, 2022
Industry: National Commercial Banks

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