Amerant Bancorp Inc. · NYSE:AMTB
Amerant Bancorp — Investor Presentation (February 2023)
23 slides from Amerant Bancorp's investor presentation, Feb 14, 2023
Slide 1: Investor Update
1 Investor Update February 14, 2023 amerantbank.com
Slide 2: Important Notices and Disclaimers
Important Notices and Disclaimers 2 Forward-Looking Statements This presentation contains “forward-looking statements” including statements with respect to the Company’s objectives, expectations and intentions and other statements that are not historical facts. All statements other than statements o
Slide 3: 2022 - Year in Review
2022 - Year in Review 3 – Total assets grew $1.5 billion during 2022, ending at $9.1 billion as of 4Q22 – Loans and deposits increased at record pace of approximately 25% YoY, while maintaining 98% Loan-to-Deposit ratio (1) – Reported record Core Pre-Provision Net Revenue ("PPNR") of $105.5 million
Slide 4: Looking Ahead - 2023
Looking Ahead - 2023 4 – Remain Deposits First focused throughout the year – Opening new banking centers: ▪ Key Biscayne, FL location expected to open in 2Q23 ▪ Downtown Miami and Ft. Lauderdale, FL locations expected to open in 3Q23 ▪ Tampa - awaiting OCC approval for a single location – Moving int
Slide 5: Why Amerant?
Why Amerant? 5 – Established franchise with high scarcity value; presence in attractive, high-growth markets of South Florida, Tampa and Houston – Track record for quality growth and achieving targets – Strong and diverse deposit base; deposits first focus – Significant fee income opportunities from
Slide 6: Amerant at A Glance
Amerant at A Glance 6 Financial Highlights • Founded in 1979 History • Completed IPO in Dec. 2018 (in millions, except per share data and percentages) 2022 2021 2020 2019 • Rebranded as Amerant in June 2019 Balance Sheet Assets $ 9,128 $ 7,638 $ 7,771 $ 7,985 Loans $ 6,920 $ 5,568 $ 5,842 $ 5,744 He
Slide 7: Growing and Attractive Markets
Growing and Attractive Markets 7 (1) (2) Banking Center Footprint Deposit Market Share Market Demographics December 31, 2022 June 30, 2022 2012 – 2022 Population Change 16 banking centers Deposits % of Market Market ($mm) AMTB Share % (3) Miami-Dade, FL 5,195 82.8 2.6 18.7% Florida Broward, FL $367
Slide 8: New Banking Centers
New Banking Centers 8 Opened 10/31/2022 Expected to Open 2Q23 Expected to Open 3Q23 University Place, Houston Key Biscayne, FL Downtown Miami, FL amerantbank.com
Slide 9: Partnerships
Partnerships 9 amerantbank.com
Slide 10: ESG Framework
ESG Framework 10 To visit our ESG website and see our 2021 Sustainability Report, please follow this link: https://www.amerantbank.com/esg amerantbank.com
Slide 11: ESG - Our Commitment
ESG - Our Commitment 11 amerantbank.com
Slide 12: Focused on Key Performance Metrics
Focused on Key Performance Metrics 12 Higher ACL / Total NIB Deposits/ Rationalizing Cost (1) (2) Tier 1 Capital Operating ROA ROE Loans Held for Total Deposits Structure Ratio (3) Profitability Investment 3.96% 65.36% 11.34% 10.89% 1.22% 20.0% 19.4% 3.61% 58.42% 1.00% 11.28% 10.33% 0.83% 0.83% 3Q22
Slide 13: Performance Highlights 4Q22
Performance Highlights 4Q22 13 (1) • Net income attributable to the Company of $18.8 million in 4Q22 compared to $20.9 million in 3Q22 (2) • Core pre-provision net revenue (PPNR) was $37.8 million in 4Q22 compared to $30.3 million in 3Q22 (1) Earnings • Diluted earnings per share (EPS) was $0.55 in
Slide 14: Appendices
Appendices amerantbank.com
Slide 15: Summary Financial Statements
Appendix 1 15 Summary Financial Statements As of December 31, (in millions) 2022 2021 2020 2019 Assets Cash and cash equivalents $290.6 $274.2 $214.4 $121.3 (1) Total Securities 1,311.1 1,293.7 1,307.6 1,666.5 (2) Mortgage Loans Held for Sale, at fair value 62.4 14.9 — — (3) Loans held for sale, at
Slide 16: Summary Financial Statements (cont'd)
Appendix 1 16 Summary Financial Statements (cont’d) Years Ended December 31, (in thousands) 2022 2021 2020 2019 Total Interest Income $338,776 $247,844 $260,554 $312,974 Total Interest Expense 72,111 42,703 71,002 99,886 Net Interest Income $266,665 $205,141 $189,552 $213,088 Provision (Reversal of)
Slide 17: Non-GAAP Financial Measures Reconciliations
Appendix 2 17 Non-GAAP Financial Measures Reconciliations Explanation of Certain Non-GAAP Financial Measures This presentation contains certain adjusted financial information or non-GAAP financial measures, including “pre-provision net revenue (PPNR)”, “core pre- provision net revenue (Core PPNR)”,
Slide 18: Non-GAAP Financial Measures Reconciliations (cont'd)
Appendix 2 18 Non-GAAP Financial Measures Reconciliations (cont’d)* (in thousands) Years Ended December 31, 2022 2021 2020 2019 Net income (loss) attributable to Amerant Bancorp Inc. $ 63,310 $ 112,921 $ (1,722) $ 51,334 Plus: provision for (reversal of) credit losses (1) 13,945 (16,500) 88,620 (3,1
Slide 19: Non-GAAP Financial Measures Reconciliations (cont'd)
Appendix 2 19 Non-GAAP Financial Measures Reconciliations (cont’d)* Years Ended December 31, (in thousands) 2022 2021 2020 2019 Net income (loss) attributable to Amerant Bancorp Inc. $ 63,310 $ 112,921 $ (1,722) $ 51,334 Plus after-tax non-routine items in noninterest expense: Non-routine items in n
Slide 20: Non-GAAP Financial Measures Reconciliations (cont'd)
20 Appendix 2 Non-GAAP Financial Measures Reconciliations (cont’d)* Years Ended December 31, 2022 2021 2020 2019 Net income (loss) / Average total assets (ROA) 0.77 % 1.50 % (0.02)% 0.65 % Plus: after tax impact of non-routine items in noninterest expense 0.18 % 0.07 % 0.06 % 0.05 % Less: after tax
Slide 21: Non-GAAP Financial Measures Reconciliations (cont'd)
Appendix 2 21 Non-GAAP Financial Measures Reconciliations (cont’d) Years Ended December 31, (in thousands, except per share data and percentages) 2022 2021 2020 2019 Tangible common equity ratio: Stockholders' equity $ 705,726 $ 831,873 $ 783,421 $ 834,701 (14) Less: Goodwill and other intangibles (
Slide 22: Non-GAAP Financial Measures Reconciliations (cont'd)
Appendix 2 22 Non-GAAP Financial Measures Reconciliations (cont’d) (1) In the fourth quarter of 2022, the Company adopted ASU 2016-13 (CECL), as of the beginning of the period of adoption, January 1, 2022, using the modified retrospective method. The Company recorded the related impact on its ACL in
Slide 23: Thank you
23 Thank you Investor Relations InvestorRelations@amerantbank.com amerantbank.com
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