- Amerant Bancorp Inc. (AMTB, Financial) reported a net income of $12.0 million in Q1 2025, a decrease from $16.9 million in Q4 2024.
- Total deposits rose to $8.2 billion, a 3.8% increase compared to the previous quarter.
- The Board of Directors declared a quarterly cash dividend of $0.09 per common share, payable on May 30, 2025.
Amerant Bancorp Inc. (AMTB) announced its financial results for the first quarter of 2025, noting a net income attributable to the company of $12.0 million or $0.28 per diluted share. This marked a decline from the $16.9 million or $0.40 per diluted share recorded in the fourth quarter of 2024. The company highlighted solid pre-provision net revenue driven by higher-than-expected net interest income and net interest margin, while exercising prudent expense management.
Total assets for the company increased by $268.0 million, reaching $10.2 billion, a 2.7% rise from the previous quarter. Total gross loans stood at $7.2 billion, representing a slight decrease of 0.7%, attributed to increased payoffs and paydowns offsetting loan production. Cash and cash equivalents saw a notable increase of 9.8%, amounting to $648.4 million at the end of Q1 2025.
The company experienced a significant uptick in deposits, with total deposits reaching $8.2 billion, marking a 3.8% increase from the $7.9 billion reported in Q4 2024. Core deposits also observed a growth of 6.6%, totaling $6.0 billion. Meanwhile, advances from the Federal Home Loan Bank (FHLB) decreased by 4.0%, totaling $715.0 million, with an aggregate borrowing capacity of $3.0 billion.
In terms of asset quality, total non-performing assets were $140.8 million, a 15.2% increase from $122.2 million in Q4 2024. The company reported an increase in the allowance for credit losses to $98.3 million, up by 15.7% due to macroeconomic factors and specific reserves for several commercial credits.
Alongside financial metrics, the Board declared a quarterly cash dividend of $0.09 per share, with payment scheduled for May 30, 2025, to shareholders of record by May 15, 2025. The company also announced its decision to scale back its residential mortgage operations to focus more on Florida-based activities.
