Amerant Bancorp Inc. reported its financial results for the second quarter and first half of 2026, revealing a net income of $21.0 million, or $0.53 per diluted share, compared to $23.0 million, or $0.55 per diluted share, in the same period of 2025. For the six months ended June 30, 2026, net income increased to $38.9 million, or $0.97 per diluted share, from $35.0 million, or $0.83 per diluted share, in the prior year. The decrease in the second quarter was primarily attributed to lower net interest income and noninterest income, partially offset by reduced noninterest expenses and provisions for credit losses.
Total assets for the company reached $10.3 billion as of June 30, 2026, marking a 5.3% increase from $9.8 billion at the end of 2025. This growth was driven by a $523.8 million increase in total securities, primarily debt securities available for sale, and a $162.2 million rise in total loans held for investment. Total deposits also rose by 7.3% to $8.4 billion, with core deposits increasing by 11.3% to $6.4 billion, reflecting the company's focus on expanding its international deposit franchise, particularly from Venezuelan customers.
In terms of operational metrics, the net interest margin (NIM) decreased to 3.52% in the second quarter of 2026, down from 3.81% in the same quarter of 2025. The average yield on loans fell to 6.22% from 6.88% year-over-year, while the average cost of total deposits decreased to 2.21% from 2.53%. The allowance for credit losses (ACL) increased to $85.5 million, representing 1.27% of total loans held for investment, compared to 1.20% at the end of 2025. The company reported a decrease in classified loans by 23.0% to $273.1 million, indicating improved asset quality.
Strategically, Amerant Bancorp has made significant changes, including the appointment of Carlos Iafigliola as President and CEO and Adrian Rodriguez as COO in May 2026. The company is also winding down its mortgage subsidiary, Amerant Mortgage, and expects to complete this process in 2026. The company has focused on enhancing its credit risk management framework and has seen a notable increase in international deposits, particularly from Venezuela, which has positively impacted its liquidity and funding costs.
Looking ahead, Amerant Bancorp anticipates continued growth in its deposit base and loan portfolio, supported by its strategic initiatives and improved economic conditions in its primary markets. The company remains cautious about the competitive landscape and macroeconomic factors, including inflation and interest rates, which could impact its net interest margin and overall financial performance.
About Amerant Bancorp Inc.
Amerant Bancorp Inc. is a Florida-based bank holding company providing comprehensive financial services including personal and commercial banking, mortgage lending, wealth management, investment advisory, and fiduciary services. Serving primarily South Florida and Tampa markets, it operates through Amerant Bank and subsidiaries. The company emphasizes relationship-driven banking, disciplined credit underwriting, diversified loan portfolios, and technology-enabled customer experiences to deliver tailored financial solutions to individuals, businesses, and high-net-worth clients.
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