Amerant swings to Q1 net income of $10.6M; declares $0.09 dividend

Amerant Bancorp Inc.

2024-Q1 EPS reported $0.31

Net income of $10.6M ($0.31 diluted EPS) vs net loss of $17.1M ($0.51 loss) in Q4 2023.
Gross loans fell 3.6% to $7.01B due to sale of $401M Houston multifamily loans; organic production $142.5M.
Total deposits $7.88B (down 0.2% QoQ) but organic deposits grew $331.8M; NIM narrowed to 3.51% from 3.72%.
Pre-provision net revenue improved to $25.9M from negative $7.6M in prior quarter.
Board declared $0.09 per share quarterly dividend, payable May 30, 2024 to holders of record May 15.

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