Amerant Bancorp Inc. · NYSE:AMTB
Amerant Bancorp — Corporate Update (January 2024)
5 slides from Amerant Bancorp's corporate update, Jan 16, 2024
Slide 1: Loan Sale & 4Q23 Non-Routine Items
amerantbank.com Loan Sale & 4Q23 Non-Routine Items January 16, 2024
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. All statements other than statements o
Slide 3: 4Q23 Loan Sale & Other Non-Routine Items
3 4Q23 Loan Sale & Other Non-Routine Items • Agreement to sell $401 million in outstanding balance of Houston-based multifamily loan portfolio at a net after-tax loss of approximately $23 million executed on January 12, 2024 • Portfolio was classified as held-for-sale as of December 31, 2023 • Consi
Slide 4: Other Non-Routine Items 4Q23
4 Other Non-Routine Items 4Q23 Previously- announced NYC Loan Sale Completed • Completed a restructuring of its bank-owned life insurance (“BOLI”) program • Executed through a combination of a 1035 exchange, and a surrender and reinvestment into higher-yielding general account with an investment gra
Slide 5: Other Non-Routine Items 4Q23 (continued)
5 Other Non-Routine Items 4Q23 (continued) • Reduction of 10 FTEs at Amerant Bank, with expected reduction in personnel expenses of approximately $1.0 million annually • Recorded severance expense of $1.0 million • to results in the fourth quarter due to the increase in the cash surrender value and