Amerant Q2 net income falls to $7.3M ($0.22/diluted) from $20.2M; credit loss provision surges to $29.1M

Amerant Bancorp Inc.

2023-Q2 EPS reported $0.81

Net income $7.3M vs $20.2M in Q1; diluted EPS $0.22 vs $0.60.
Provision for credit losses $29.1M, up 148% from $11.7M, driven by charge-offs and economic factors.
Non-performing assets rose 38% to $67.4M; allowance for credit losses increased 26% to $106.0M.
Total deposits grew 4% to $7.58B, driven by $432M organic growth in commercial, consumer, and international banking.
Board declared $0.09 quarterly dividend, payable Aug 31, 2023 to holders of record Aug 15.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Amerant Bancorp Inc. reported the fiscal quarter ended June 30, 2023 results: net income $7.3 million, EPS $0.22 per diluted share.

Period: the fiscal quarter ended June 30, 2023
Net income: $7.3 million
EPS: $0.22 per diluted share
Result: reported results

Exact text from the filing

Amerant Bancorp Inc. (NASDAQ: AMTB) (the “Company” or “Amerant”) today reported net income attributable to the Company of $7.3 million in the second quarter of 2023, or $0.22 per diluted share, compared to net income attributable to the Company of $20.2 million, or $0.60 per diluted share, in the first quarter of 2023.

View on SEC.gov

51 earnings releases filed in the last 30 days. Browse all earnings releases →

Amerant Bancorp Inc. filing history →

Source: SEC EDGAR

accession 0001734342-23-000047

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.