Highlights

  • Third quarter 2026 net income was $25.7 million, or $0.65 per diluted share, compared with $21.0 million in the second quarter.
  • Net interest margin was 3.77%, compared with 3.52% in the second quarter, and the efficiency ratio was 63.51%, compared with 68.37%.
  • Non-performing assets were $159.5 million, compared with $186.6 million, and the allowance for credit losses was $94.8 million.
  • The board increased the amount available under the share repurchase program to $50 million and extended it to December 31, 2027.

Amerant Bancorp Inc. (NYSE: AMTB) shares were trading at USD 30.14 on October 27, 2026, up 0.27%, with a relative volume at time of 2.24. The bank holding company completed a $50.0 million offering of 7.00% Senior Notes due 2031 on September 17, 2026, and on October 21 and 22, 2026 its board approved an extended share repurchase program and declared a $0.09 dividend, and the company reported third quarter 2026 results, with fourth quarter expectations given on its October 23 call.

Amerant Bancorp is incorporated in Florida and lists its principal executive offices in Coral Gables, Florida. The company operates through its main subsidiary, Amerant Bank, N.A., and its other subsidiary, Amerant Investments, Inc., and provides individuals and businesses with deposit, credit and wealth management services. The bank has a network of 23 banking centers, 21 in South Florida and 2 in Tampa, Florida. Its fiscal year ends December 31.

Third Quarter 2026 Results

Net income attributable to the company was $25.7 million, or $0.65 per diluted share, compared with $21.0 million, or $0.53 per diluted share, in the second quarter of 2026. Net interest income was $90.5 million, compared with $82.6 million. Noninterest expense was $69.1 million. Provision for credit losses was $6.2 million, compared with $4.8 million.

Net interest margin was 3.77%, compared with 3.52%. The company said the increase reflected $1.6 million in additional interest from repayments of loans previously in nonaccrual status. Return on average assets was 1.00%, compared with 0.84%, and return on average equity was 11.29%, compared with 9.23%.

Balance Sheet and Asset Quality

Total assets were $10.2 billion, down $82.6 million, or 0.8%, from the second quarter. Total gross loans were $7.1 billion, up $207.8 million, or 3.0%. Total deposits were $8.2 billion, down $109.6 million, or 1.3%. The loan to deposit ratio was 85.78%, compared with 82.17%.

Non-performing assets were $159.5 million, made up of $149.5 million in non-performing loans and $10.0 million in OREO. Classified loans were $213.0 million, compared with $273.1 million, and the company said the reduction was primarily attributable to payoffs. Special mention loans were $120.7 million, up $10.9 million, or 10.0%, which the company attributed to loan rating changes during the quarter. The allowance for credit losses ratio was 1.36%, compared with 1.27%.

Stockholders' equity was $840,817 thousand, compared with $914,369 thousand at June 30, 2026. On the call, management said tangible common equity declined primarily due to unrealized losses in the available for sale investment portfolio. The CET1 ratio was 12.07%, compared with 11.94%.

Capital Actions

The company repurchased 70,592 shares of Class A common stock at a weighted average price of $28.47 per share, for approximately $2.0 million. On October 21, 2026, the board extended the repurchase program from December 31, 2026 to December 31, 2027 and increased the amount available to $50 million, from approximately $3 million.

On September 17, 2026, the company completed a registered offering of $50.0 million aggregate principal amount of 7.00% Senior Notes due 2031, with interest payable semi-annually beginning March 17, 2027. The board declared a cash dividend of $0.09 per share, payable on November 27, 2026 to holders as of November 13, 2026.

Fourth Quarter Outlook

On the call, management said it expects total loans of approximately $7.3 billion by the fourth quarter of 2026 and has revised its total deposit guidance to approximately $8.5 billion. It expects net interest margin of 3.65% to 3.70%, fourth quarter noninterest expense of approximately $68 million, and gross charge-offs of 30 basis points to 35 basis points, which may include write-offs of existing specific reserves.

Management also said it is working toward a target efficiency ratio of approximately 60%.