Amerant Bancorp Inc. · NYSE:AMTB
Amerant Bancorp — Q3 2023 Earnings Presentation
34 slides from Amerant Bancorp's earnings presentation, Nov 14, 2023
Slide 1: Investor Update
Investor Update November 14, 2023 NYSE: AMTB amerantbank.com
Slide 2: Table of Contents
Being the bank of choice in the markets we serve. Table of Contents 1 About Us 2 Company Updates 3 Performance Updates 4 Community Updates Investor Update | 2
Slide 3: Important Notices and Disclosures
Important Notices and Disclosures 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 of
Slide 4: About Us
About Us
Slide 5: About Us
About Us Financial and non-financial information provided here is as of September 30, 2023 Founded in 1979 History Completed IPO in December 2018 Rebranded as Amerant in June 2019 Team Members 700 FTEs $9.35 billion Assets 1 Largest community bank headquartered in Florida Deposits $7.55 billion AUM
Slide 6: Our Investment Proposition
Our Investment Proposition Established franchise with high scarcity value; presence in attractive, high-growth markets of Miami/South Florida, Tampa and Houston. Strong and diverse deposit base; organic, deposits-first focus. Strong reserve coverage and disciplined credit culture. Well capitalized;
Slide 7: Our Mission, Vision, and Precepts
Our Mission, Vision, and Precepts Mission To provide our customers with the products, services and advice they need to achieve financial success, through our diverse, inclusive and motivated team that is personally involved with the communities we serve, all of which result in increased shareholder
Slide 8: Experienced Leadership Team
Experienced Leadership Team Jerry Plush | Chairman and CEO Mr. Plush serves as the Company’s Chairman, President, and CEO since June 8, 2022, having served previously as Vice-Chairman & CEO since March 20, 2021, and as Vice Chairman since February 15, 2021. Mr. Plush is a highly respected financial
Slide 9: Our Team
Our Team Workforce Demographics as of 12/31/22 2% 4% 4% 10% 11% 29% Race/ Age 49% Gender 51% Ethnicity* 60% 80% <31 31-50 51+ Women Men White, Non Hispanic Hispanic Black Asian Other *Numbers do not include team members from Amerant Mortgage. For the second consecutive year, Amerant Bank was certifi
Slide 10: Company Updates
Company Updates
Slide 11: Mid-4Q 2023 Updates
Mid-4Q 2023 Updates Deposits and Loans Growth recorded on both deposits and loans since 3Q23 Deposit Details As of October 31, 2023 Change QTD Change YTD ($ in millions, except %) 4Q22 2Q23 3Q23 Oct’ 23 $ % $ % Commercial Real Estate 211 255 292 296 4 1 85 40 Commercial & Industrial 819 1,028 1,010
Slide 12: Raising Brand Awareness
Raising Brand Awareness Multi-year partnerships that support and align with well known organizations and businesses that are deeply rooted in the communities in which we operate. Official Bank of the Miami Heat Our partnership with the Miami Heat, matches us with an organization that values excellen
Slide 13: Raising Brand Awareness
Raising Brand Awareness Official Bank of the Rice Owls Our extensive partnership with Rice University Athletics includes prominent branding throughout university athletic venues, special events, online channels and more, as well as the ability to provide banking services to athletics fans, donors, s
Slide 14: Common "Look and Feel" Initiative
Common “Look and Feel” Initiative Banking Center Updates Downtown Miami Targeted for 4Q 2023 Las Olas, Ft. Lauderdale Targeted for 1Q 2024 San Felipe, Houston Targeted for 2Q 2024 Tampa Targeted for 4Q 2023 All but two banking centers have been renovated. Remaining two in process to be updated. Inve
Slide 15: 3Q 2023 News & Events
3Q 2023 News & Events Announcement of Broward County Regional Headquarters Our vision is to be the bank of choice in the markets we serve, and the establishment of a formal regional headquarters in Broward County is essential toward achieving that vision. Located within the Cornerstone One Building
Slide 16: Performance Updates
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Slide 17: Key Performance Metrics
Key Performance Metrics NIB Deposits / 2Q23 17.1% Total Deposits 3Q23 18.2% Net Interest 2Q23 3.83% Other Highlights 3Q23 Margin 3Q23 3.57% Loan to deposit ratio improved to 94.64% 2Q23 65.61% compared to 95.22% in Efficiency 2Q23 Ratio 3Q23 64.10% 2Q23 0.31% Strong organic deposit ROA (1) inflows w
Slide 18: Deposit Composition
Deposit Composition Deposit Composition ($ in millions, except for percentages) 8,000 $7,580 $7,287 $7,547 $7,044 7,000 $6,588 $1,294 $1,361 $1,370 $1,368 6,000 $1,319 $738 $686 $629 $736 5,000 $504 4,000 $1,204 $1,451 $1,120 $1,580 $926 3,000 $3,984 $4,149 2,000 $3,927 $3,861 $3,839 1,000 2.66% 0 2
Slide 19: Loan Composition
Loan Composition Loan Composition (1) ($ in millions, except for percentages) 8.7% 7.7% 8.9% 7.0% 6.1% 16.7% 17.4% 15.8% 18.5% 19.5% 15.1% 15.0% 14.7% 15.3% 15.8% 18.7% 20.2% 21.3% 22.0% 20.5% 6.79% 6.77% 6.38% 5.85% 5.06% 41.3% 39.3% 38.6% 37.8% 38.0% 3Q22 4Q22 1Q23 2Q23 3Q23 Owner Occupied CRE Sin
Slide 20: Capital
Capital Total Capital Ratio 12.70% Regulatory Minimum: 10.00% Common Equity Tier 1 Capital (CET1) Ratio Regulatory Minimum: 6.50% 10.30% 7.44% TCE Ratio (1,3) TCE adj. for HTM Valuation (2,3) 7.18% $19.86 TBV/Share adj. for HTM Valuation (3) Capital Allocation Strategy 2023 Class A Common Stock Repu
Slide 21: Liquidity
Liquidity Our standard liquidity management practices include: Regular testing of lines of credit; satisfactory results have been obtained as of September 30, 2023 Daily monitoring of Federal Reserve Bank account balances as well as large fund providers Daily analysis of lending pipeline and deposit
Slide 22: Community Updates
Community Updates
Slide 23: Examples of Community Partnerships
Examples of Community Partnerships Habitat for Humanity - Miami, Broward, Houston We are proud to support organizations doing incredible work in our backyard, like Habitat for Humanity in Miami and Houston. Our teams work together with deserving home owners to complete beautiful homes in under serve
Slide 24: Supplemental Information
Supplemental Information
Slide 25: Investment Portfolio
Investment Portfolio Balances and Yields (1) Fixed vs. Floating (3) ($ in millions) June 2023 September 2023 1,500 $12.2 $2.5 $2.4 $234.3 $234.4 15.4% 15.4% $230.3 5.1 yrs 5.3 yrs 3.89% 3.98% Effective Effective 3.01% Duration Duration $1,052.3 $1,027.7 $1,033.8 84.6% 84.6% 3Q22 2Q23 3Q23 Fixed rate
Slide 26: Interest Rate Sensitivity
Interest Rate Sensitivity Impact on NII from Interest Rate Change (1) As of September 30, 2023 400 6.3% 9.6% 4.3% -1.6% 0% ($ in Millions) 350 -3.5% -7.4% 372 383 300 350 365 338 344 324 250 -200 bps -100 bps -50 bps BASE +50 bps +100 bps +200 bps Net Interest Income Change from base (1) NII and per
Slide 27: Commercial Real Estate (CRE) Held for Investment-Detail; Credit Quality
Commercial Real Estate (CRE) Held for Investment-Detail Outstanding as of September 30, 2023 ($ in millions, except %) % Total % Total Income Land and CRE Type FL TX NY Other Total CRE Loans (1) Producing (2) Construction Retail $483 $157 $81 $2 $723 27.2% 10.3% $719 $4 Multifamily 342 480 114 20 95
Slide 28: Impact Program: Metrics & Targets
Impact Program: Metrics & Targets Pillars Goals Metrics Facilitate preparation Dollar value of environmentally conscious direct or Building Climate Resilience for climate change in our indirect financing and investments (1) communities Number of participants in Amerant sponsored environmental activi
Slide 29: 2022 Actuals, 2023 Target, 2030 Target
2022 Actuals 2023 Target 2030 Target $134M $200M $200M 1,138 900 900 Contingent on GHG Inventory Baseline: Baseline: 2,023 2,000 tCO2e 2,000 tCO2e Target: -100% Target: -100% $459.6M $169.5M $169.5M 5,497 3,500 3,500 4% 5% 5% 41% 44% 44% N/A Every other year (2023) Every other year (2023) N/A Baseli
Slide 30: Appendix
Appendix
Slide 31: Appendix 1 - Non-GAAP Financial Measures Reconciliations
Appendix 1- Non-GAAP Financial Measures Reconciliations The following table sets forth selected financial information derived from the Company’s interim unaudited and annual audited consolidated financial statements, adjusted for certain costs incurred by the Company in the periods presented related
Slide 32: Non-GAAP Reconciliation Table
(in thousands, except percentages and per share amounts) Net income attributable to Amerant Bancorp Inc. (1) Plus after-tax non-routine items in noninterest expense: Non-routine items in noninterest expense before income tax effect Income tax effect (11) Total after-tax non-routine items in noninter
Slide 33: Footnotes
(1) As previously disclosed, the Company adopted CECL in the fourth quarter of 2022, effective as of January 1, 2022. See Form 10-K for more details of the CECL adoption and related effects to quarterly results for each quarter in the year ended December 31, 2022. (2) In the third quarter of 2023, i
Slide 34: Thank You
Thank You NYSE: AMTB amerantbank.com