Amerant Bancorp Inc. · NYSE:AMTB
Amerant Bancorp — Q3 2025 Earnings Presentation
37 slides from Amerant Bancorp's earnings presentation, Oct 28, 2025
Slide 1: Third Quarter Earnings Presentation
Third Quarter Earnings Presentation October 28, 2025
Slide 2: Important Notices and Disclaimers
2 Important Notices and Disclaimers 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. Examples of forward- looking statement
Slide 3: 3Q25 vs. 2Q25 Highlights: Balance Sheet
3 3Q25 vs. 2Q25 Highlights Balance Sheet • Total assets were $10.4 billion, compared to $10.3 billion • Cash and cash equivalents were $630.9 million, compared to $636.8 million • Total investment securities were $2.3 billion, compared to $2.0 billion • Total gross loans were $6.9 billion, compared
Slide 4: 3Q25 vs. 2Q25 Highlights: Income Statement
4 3Q25 vs. 2Q25 Highlights Income Statement • Net income attributable to the Company was $14.8 million, compared to $23.0 million • Diluted earnings per share was $0.35, compared to $0.55 • Net Interest Margin ("NIM") was 3.92%, compared to 3.81% • Net Interest Income (“NII”) was $94.2 million, comp
Slide 5: 3Q25 vs. 2Q25 Highlights: Other Metrics
5 3Q25 vs. 2Q25 Highlights Other Metrics • Efficiency ratio was 69.84%, compared to 67.48% • Return on Assets ("ROA") was 0.57%, compared to 0.90% • Return on Equity ("ROE") was 6.21%, compared to 10.06% (*) Non-GAAP Financial Measures. See Appendix 1 for a reconciliation to GAAP. Non-routine Items
Slide 6: Capital Highlights
6 Capital Highlights • Paid quarterly cash dividend of $0.09 per common share on August 29, 2025 • Repurchased 487,657 shares for $10.0 million (weighted average price of $20.51 per share) • Tangible book value per share for 3Q25 was $22.32 11.24% 11.97% 13.49% 9.69% 8.73% 11.54% 12.28% 13.90% 9.73%
Slide 7: Asset Quality
Asset Quality
Slide 8: Non-Performing Assets
8 Non-Performing Assets $114.9 $104.1 $123.2 $82.5 $124.3 $14.5 $18.1 $17.5 $15.4 $15.6 1.25% 1.23% 1.38% 0.95% 1.34% Non-performing loans OREO NPAs/Total Assets 3Q24 4Q24 1Q25 2Q25 3Q25 Non-Performing Assets Non-Performing Loans Additions ($ in millions except for %) Non-Performing Loans $91.3 $25.
Slide 9: Non-Performing Loans
9 Non-Performing Loans Primarily 12 loans placed in non-accrual status: • 3 CRE loans totaling $31.0 million (1 construction loan in TX, 1 multifamily in NY and 1 retail property in FL) • 9 Commercial loans totaling $38.6 million; loans are diversified across different industries, primarily in FL •
Slide 10: NCOs and Allowance for Credit Losses
10 NCOs and Allowance for Credit Losses $86.5 $(9.5) $2.7 $6.1 $7.8 $3.6 $(2.3) $94.9 2Q25 Gross Charge-offs Recoveries Requirement for Charge- offs Specific Reserve Change Credit Quality and Macroeconomic Factor Updates Loan Balance 3Q25 Portfolios Balance 2Q25 Reserve Build (Release) Balance 3Q25
Slide 11: 4Q25 Outlook
11 4Q25 Outlook • Projected loan growth of approximately 2.5% from 3Q25, or $175 million, including a portion via syndicated loans • Projected organic deposit growth consistent with loan growth • Net interest margin projected to be approximately 3.75% • Projected non-interest income between $17.5 an
Slide 12: Other Updates before Q&A
12 Other Updates before Q&A • Expense reduction initiatives • Commercial Banking leadership • Heightened emphasis on reducing non-performing assets, including additional resources dedicated to expedite resolution • Buyback update
Slide 13: Supplemental Information
Supplemental Information
Slide 14: Investment Portfolio
14 84.6% 15.4% $1,476.4 $1,788.7 $2,122.4 $2.6 $2.5 4.19% 4.88% 4.89% AFS Trading Marketable Equity Securities Yield 3Q24 2Q25 3Q25 0 500 1,000 1,500 2,000 81.0% 19.0% Balances and Yields (1) Fixed vs. Floating (2) September 2025 Floating rate Fixed rate Available for Sale Securities by Type Septemb
Slide 15: Loan Composition and Geographic Mix
15 34.7% 34.7% 35.3% 37.3% 36.9% 23.9% 26.4% 25.9% 24.0% 24.3% 16.2% 13.9% 13.7% 13.7% 13.0% 21.4% 21.3% 21.6% 21.5% 22.3% 3.8% 3.8% 3.4% 3.5% 3.5% 7.08% 7.00% 6.84% 6.88% 6.93% 3Q24 4Q24 1Q25 2Q25 3Q25 80.3% 91.5% 91.5% 91.5% 91.5% 10.5% 2.9% 3.0% 3.0% 3.0% 2.7% 4.7% 4.0% 3.8% 3.8% 4.0% 1.5% 1.6% 1
Slide 16: Loans Held for Investment Portfolio by Industry
16 Loans Held for Investment Portfolio by Industry • Diversified portfolio - highest sector concentration, other than real estate, at 13% of total loans • 72% of total loans secured by real estate • Main concentrations: – CRE or Commercial Real Estate – Wholesale - Food & Auto and and computer parts
Slide 17: CRE Loans Held For Investment - Detail
17 CRE Type FL TX NY Other Total % Total CRE % Total Loans (1) Income Producing (2) Land and Construction Retail $ 512 $ 13 $ 81 $ 26 $ 632 24.6 % 9.1 % $ 620 $ 12 Multifamily 336 47 76 22 481 18.8 % 6.9 % 363 121 Office 321 37 40 90 488 19.0 % 7.0 % 485 3 Hotels 252 47 — — 299 11.7 % 4.3 % 287 12 I
Slide 18: CRE Retail
18 25% 29% 30% 16% —% 50% or less 50- 60% 60- 70% 70- 80% 80% or more 0% 10% 20% 30% 40% 50% 60% • Florida primarily includes neighborhood shopping centers or service centers with basic needs related anchor stores, as well as the retail corridor in Miami Beach • New York primarily includes high traf
Slide 19: CRE Office
19 New York; 8% Texas; 8% Florida; 65% Other ; 19.0% 15% 27% 50% 8% —% 50% or less 51-60% 61-70% 71-80% 81% or more 0% 10% 20% 30% 40% 50% 60% CRE office above $3 million represents 24 loans totaling $467 million, or 98% of total CRE office with avg. debt-service coverage (DSCR) (3) 1.6x and LTV 63%
Slide 20: Well Diversified and Stable Deposit Mix
20 8,111 7,855 8,155 8,307 8,301 $4,225 $4,115 $4,280 $4,429 $4,434 $1,702 $1,533 $1,527 $1,528 $1,548 $702 $702 $695 $644 $550 $1,482 $1,505 $1,653 $1,706 $1,769 2.99% 2.76% 2.60% 2.53% 2.41% 3Q24 4Q24 1Q25 2Q25 3Q25 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 $2,423 $2,465 $2,576 $2,56
Slide 21: New Branch Performance
21 New Branch Performance Actual balances as of September 30, 2025 ($ in millions) Total deposit and loan balances reflect Retail and Business Banking, Private Banking and International Banking (in-branch only) accounts booked and excludes commercial balances. As of June 30, 2025 As of September 30,
Slide 22: Net Interest Income and NIM
22 $81.0 $87.6 $85.9 $90.5 $94.2 3.49% 3.75% 3.75% 3.81% 3.92% Net Interest Income NIM 3Q24 4Q24 1Q25 2Q25 3Q25 0 10 20 30 40 50 60 70 80 90 NII and NIM (%) 22 ($ in millions) 3Q24 4Q24 1Q25 2Q25 3Q25 Cost of Deposits (Domestic) 3.72 % 3.39 % 3.18 % 3.14 % 3.00 % Cost of Deposits (International) 1.4
Slide 23: Loan Portfolio Details and Interest Rate Impact
23 <1 year; 63% 1-3 years; 5% 4-5 years; 4% 5+ years; 28% 319 337 350 353 372 375 379 -200 bps -100 bps -50 bps BASE +50 bps +100 bps +200 bps 0 200 400 As of September 30, 2025 Fixed 40% Adjustable 60% 23 By Interest TypeBy Rate Type By Repricing Term (1) NII and percentage change represents the ba
Slide 24: Non-Interest Income Mix
24 $23.6 $19.5 $19.8 $17.3 $(47.7) $5.0 $5.4 $5.1 $5.0 $5.1 $4.5 $4.7 $4.7 $5.0 $5.0 $1.2 $5.0 $2.4 3Q24 4Q24 1Q25 2Q25 3Q25 -75 -50 -25 0 25 17% 83% 28% 72% Non-Interest Income Mix Deposits and service fees Brokerage, advisory and fiduciary activities Other noninterest income (1) DomesticInternatio
Slide 25: Non-Interest Expense Mix
25 76.2 83.4 71.6 74.4 77.8 $35.0 $35.3 $33.3 $36.0 $35.1 $41.2 $48.1 $38.3 $38.4 $42.7 735 698 726 692 704 3Q24 4Q24 1Q25 2Q25 3Q25 0 25 50 75 100 Non-Interest Expense Mix ($ in millions, except for FTEs) Non-routine Noninterest Expenses 5.7 15.1 0.5 1.2 2.0 $2.5 $12.6 Other nonroutine noninterest
Slide 26: Change in Diluted Earnings Per Common Share
26 Change in Diluted Earnings Per Common Share $0.55 $(0.05) $0.05 $(0.20) $0.35 2Q25 PPNR Income Tax Expense Provision for Credit Losses 3Q25 $(0.40) $(0.20) $— $0.20 $0.40 $0.60 EPS Trend (1) Non-GAAP Financial Measure. See Appendix 1 for a reconciliation to GAAP. (1)
Slide 27: New Branch Opening Schedule
27 New Branch Opening Schedule 4Q 2025: – Bay Harbor Islands – Key Biscayne Space Expansion 2Q 2026: – Central Ave St. Petersburg
Slide 28: Appendices
Appendices
Slide 29: Non-GAAP Financial Measures Reconciliations
29 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 the effect of non-core banking activities such as the sale of loans
Slide 30: Non-GAAP Reconciliations: Core Noninterest Expense
30 Three Months Ended, (in thousands) September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 Total noninterest expense $ 77,835 $ 74,400 $ 71,554 $ 83,386 $ 76,208 Less: non-routine noninterest expense items Non-routine noninterest expense items: Losses on loans held fo
Slide 31: Non-GAAP Reconciliations: Core Net Income
31 Three Months Ended, (in thousands, except percentages and per share data) September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 Net income (loss) attributable to Amerant Bancorp Inc. $ 14,756 $ 23,002 $ 11,958 $ 16,881 $ (48,164) Plus after-tax non-routine items in
Slide 32: Non-GAAP Reconciliations: ROE and Efficiency Ratio
32 Three Months Ended, ($ in thousands, except percentages and per share data) September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 Net income (loss)/ Average stockholders' equity (ROE) 6.21 % 10.06 % 5.32 % 7.38 % (24.98) % Plus: after tax impact of non-routine items
Slide 33: Non-GAAP Financial Measures Reconciliations (cont'd)
33 Appendix 1 Non-GAAP Financial Measures Reconciliations (cont'd) (1) Includes provision for credit losses on loans and provision for loan contingencies. See Footnote 7 in Exhibit 1 - Selected Financial Information of Earnings Press Release for for more details. (2) In the three months ended Septem
Slide 34: Income Statement Highlights - 3Q25 vs 2Q25
34 Income Statement Highlights - 3Q25 vs 2Q25 ($ in thousands) 3Q25 2Q25 Change Total Interest Income Loans $ 121,414 $ 122,166 $ (752) Investment securities 26,737 23,212 3,525 Interest earning deposits with banks and other interest income 4,592 5,717 (1,125) Total Interest Expense — Interest beari
Slide 35: Glossary
35 • ACL - Allowance for Credit Losses • AFS - Available for Sale • AOCL - Accumulated Other Comprehensive Loss • AUM - Assets Under Management • CET 1 - Common Equity Tier 1 capital ratio • CRE - Commercial Real Estate • Customer CDs - Customer certificate of deposits • EPS – Earnings per Share • F
Slide 36: Glossary (cont'd)
36Glossary (cont'd) • Assets under management and custody: consists of assets held for clients in an agency or fiduciary capacity which are not assets of the Company and therefore are not included in the consolidated financial statements. • Core deposits: consist of total deposits excluding all time
Slide 37: Amerant Bank
AMERANT BANK Imagine tomorrow.