third quarter 2026
Filed Oct 22, 2026Amerant reported third-quarter 2026 net income attributable to the Company of $25.7 million, or $0.65 earnings per diluted share, as net interest income, margin and profitability improved from the second quarter.
Net income, net interest income, PPNR, NIM, ROA and ROE improved sequentially, while gross loans increased and non-performing assets and classified loans declined. Offsetting considerations include lower deposits and total assets, a higher provision for credit losses, increased special mention loans, and lower stockholders’ equity.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Net income attributable to Amerant Bancorp Inc.GAAP | $25.7M | up by $4.7 million | – |
| Diluted earnings per common shareGAAP | $0.65 | – | – |
| Basic earnings per common shareGAAP | $ 0.66 | – | – |
| Net interest incomeGAAP | $90.5M | up by $7.9 million, or 9.6% | – |
| Noninterest incomeGAAP | $18.3M | up by $0.2 million, or 1.0% | – |
| Provision for credit lossesGAAP | $6.2M | up by $1.5 million, or 30.5% | – |
| Noninterest expenseGAAP | $69.1M | up by $0.2 million, or 0.3% | – |
| Pre-tax pre-provision net revenue (PPNR)non-GAAP | $39.7M | up by $7.8 million, or 24.6% | – |
| Effective income tax rateGAAP | 23.25% | – | – |
| Net interest marginother | 3.77% | – | – |
| Average yield on loansother | 6.35% | – | – |
| Average cost of total depositsother | 2.07% | – | – |
| Efficiency ratioother | 63.51% | – | – |
| Return on average assetsother | 1.00% | – | – |
| Return on average equityother | 11.29% | – | – |
| Total assetsGAAP | $10.2B | down by $82.6 million, or 0.8% | – |
| Total gross loansother | $7.1B | up by $207.8 million, or 3.0% | – |
| Total depositsGAAP | $8.2B | down by $109.6 million, or 1.3% | – |
| Core depositsother | $6.3B | down by $125.8 million, or 2.0% | – |
| Cash and cash equivalents and restricted cashGAAP | $361.5M | up by $60.3 million, or 20.0% | – |
| Total investmentsGAAP | $2.2B | down by $382.8 million, or 14.7% | – |
| Advances from the Federal Home Loan BankGAAP | $715M | up by $12.4 million, or 1.8% | – |
| Allowance for credit lossesGAAP | $94.8M | – | – |
| Total non-performing assetsother | $159.5M | down by $27.1 million, or 14.5% | – |
| Non-performing loansother | $149.5M | down $21.6 million, or 12.6% | – |
| Classified loansother | $213M | down by $60.1 million, or 22.0% | – |
| Special mention loansother | $120.7M | up $10.9 million, or 10.0% | – |
| Assets under management and custodyother | $3.45B | up by $77.9 million, or 2.3% | – |
| Loan to deposit ratioother | 85.78% | – | – |
| Stockholders' equityGAAP | $840.8M | – | – |
| Tangible common equity rationon-GAAP | 8.04% | – | – |
| Common equity tier 1 capital ratioother | 12.07% | – | – |
| Total capital ratioother | 14.48% | – | – |
Amounts quoted below without a unit are in thousands, as in the filing’s tables. Per-share figures are as printed.
Capital returns
- The Company repurchased an aggregate of 70,592 shares of Class A common stock at a weighted average price of $28.47 per share.
- The aggregate purchase price for these transactions was approximately $2.0 million.
- On October 21, 2026, the Board of Directors declared a cash dividend of $0.09 per share of common stock.
- The dividend is payable on November 27, 2026 to shareholders of record on November 13, 2026.
What drove it
- Net interest income increased by $7.9 million, or 9.6%, sequentially.
- NIM expanded to 3.77% from 3.52%; the Company said the increase reflects $1.6 million in additional interest recorded during the quarter from repayments of loans previously in nonaccrual status.
- Average yield on loans was 6.35%, compared to 6.22%, while average cost of total deposits was 2.07%, compared to 2.21%.
- Total gross loans increased by $207.8 million, or 3.0%, sequentially.
- The reduction in classified and non-performing loans was primarily attributable to payoffs during the quarter.
- Noninterest expense included $1.3 million in OREO income, compared to $0.3 million in the previous quarter.
Concerns
- Provision for credit losses was $6.2 million, up by $1.5 million, or 30.5%, compared to $4.8 million.
- Special mention loans were $120.7 million, up $10.9 million, or 10.0%, compared to $109.8 million; the increase was primarily driven by downgrades during the quarter.
- Total deposits declined by $109.6 million, or 1.3%, and core deposits declined by $125.8 million, or 2.0%, sequentially.
- Total stockholders' equity was $ 840,817 (in thousands), compared with $ 914,369 (in thousands) at June 30, 2026.
- Tangible common equity ratio was 8.04%, compared to 8.69% in the prior quarter.
What to watch
- Sustainability of the 3.77% NIM, including the effect of the $1.6 million in additional interest from repayments of loans previously in nonaccrual status.
- Deposit retention and mix after total deposits and core deposits declined sequentially while the loan to deposit ratio increased to 85.78%.
- Credit migration, particularly the $120.7 million of special mention loans that increased due to downgrades.
- Further resolution of non-performing and classified loans through payoffs and the resulting impact on provision for credit losses.
- Capital and tangible common equity following the decline in stockholders' equity and the issuance of 7.00% Senior Notes due 2031.
Balance sheet and cash flow
- Cash and cash equivalents and restricted cash were $361.5 million, up by $60.3 million, or 20.0%, compared to $301.1 million.
- Total investments were $2.2 billion, down by $382.8 million, or 14.7%, compared to $2.6 billion.
- On September 17, 2026, the Company completed a registered offering of $50.0 million aggregate principal amount of 7.00% Senior Notes due 2031.
- Senior notes were $ 48,366 (in thousands) at September 30, 2026.
- Total deposits were $8.2 billion, down by $109.6 million, or 1.3%, compared to $8.4 billion.
- Stockholders' equity was $ 840,817 (in thousands), compared with $ 914,369 (in thousands) at June 30, 2026.
Analysis
Amerant’s third-quarter results showed a clear sequential earnings improvement. Net income attributable to Amerant Bancorp Inc. was $25.7 million, compared with $21.0 million in the second quarter, and diluted earnings per common share were $0.65 compared with $0.53. The key earnings contributor was net interest income of $90.5 million, up by $7.9 million, or 9.6%, from $82.6 million. PPNR increased by $7.8 million, or 24.6%, to $39.7 million, while the efficiency ratio improved to 63.51% from 68.37%.
Margin and funding trends supported the quarter. NIM increased to 3.77% from 3.52%, with average loan yield rising to 6.35% from 6.22% and average cost of total deposits declining to 2.07% from 2.21%. The Company said $1.6 million in additional interest from repayments of loans previously in nonaccrual status contributed to NIM expansion. Gross loans rose by $207.8 million, or 3.0%, to $7.1 billion, but total deposits fell by $109.6 million, or 1.3%, to $8.2 billion and core deposits declined by $125.8 million, or 2.0%, to $6.3 billion. The loan to deposit ratio increased to 85.78% from 82.17%.
Credit metrics improved in several areas, although new migration bears attention. Total non-performing assets decreased by $27.1 million, or 14.5%, to $159.5 million, and classified loans decreased by $60.1 million, or 22.0%, to $213.0 million, primarily due to payoffs. Non-performing loans declined by $21.6 million, or 12.6%, to $149.5 million. In contrast, special mention loans increased by $10.9 million, or 10.0%, to $120.7 million, with the Company attributing the increase to downgrades. Provision for credit losses rose to $6.2 million from $4.8 million.
Noninterest income was broadly stable at $18.3 million compared with $18.2 million, while noninterest expense rose only $0.2 million to $69.1 million. Expense performance included $1.3 million in OREO income, compared with $0.3 million in the previous quarter. Profitability ratios improved, with ROA at 1.00% versus 0.84% and ROE at 11.29% versus 9.23%. The Company also reported AUM and custody of $3.45 billion, up by $77.9 million, or 2.3%, from $3.37 billion.
Capital allocation included approximately $2.0 million of repurchases and a declared $0.09 per-share cash dividend. The Company completed a $50.0 million registered offering of 7.00% Senior Notes due 2031 during the quarter. Stockholders’ equity was $ 840,817 (in thousands), down from $ 914,369 (in thousands) at June 30, 2026, and the tangible common equity ratio declined to 8.04% from 8.69%. No forward financial guidance was provided in the filing.
Management, verbatim
Our third quarter results reflect meaningful progress in building a more profitable and resilient franchise.
Carlos Iafigliola, President and Chief Executive Officer
Stronger net interest income and disciplined expense management drove improved profitability, net interest margin expansion, and higher net income.
Carlos Iafigliola, President and Chief Executive Officer
With a stronger foundation now in place, our focus is increasingly shifting toward enhancing franchise value and delivering sustainable returns for our shareholders.
Carlos Iafigliola, President and Chief Executive Officer
Not in the filing
stated, not guessed- Forward revenue, earnings, margin, expense, tax-rate, credit or capital guidance was not provided.
- Previous-release outlook was not provided; therefore, no comparison of actual results with prior guidance is available.
- Total revenue was defined in the glossary but no total revenue amount was printed on its own labeled line item.
- Operating cash flow was not reported.
- Free cash flow was not reported.
- Reportable segment revenue and segment operating results were not reported.
- Management did not provide explicitly printed year-over-year percentage changes for the reported third-quarter metrics.
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure is checked against the filing text, and a metric the filing does not print, or whose value, prior period and change do not add up, is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.