Amerant Bancorp Inc. reported its financial results for the first quarter of 2025, revealing a net income of $11.96 million, or $0.28 per diluted share, representing a 13.2% increase from $10.57 million, or $0.31 per diluted share, in the same period last year. The company's total interest income rose to $146.41 million, a 1.2% increase from $144.63 million in the prior year, primarily driven by higher average balances in loans and debt securities. Net interest income also increased by 10.2% to $85.90 million, up from $77.97 million, reflecting a favorable shift in the cost of interest-bearing liabilities.
In terms of asset management, total assets grew by 2.7% to $10.17 billion as of March 31, 2025, compared to $9.90 billion at the end of 2024. This increase was largely attributed to a $263.8 million rise in total securities, particularly in debt securities available for sale, and a $58 million increase in cash and cash equivalents. However, total loans held for investment decreased slightly to $7.16 billion, down from $7.23 billion, with notable declines in owner-occupied and commercial loans.
Operationally, Amerant Bancorp has made strategic changes, including the hiring of a new Chief Credit Officer and a Head of Treasury Management to enhance its risk management and treasury services. The company also announced plans to transition its mortgage operations to focus on in-footprint lending, which will involve reducing its workforce in the mortgage division from 77 to 20 employees. Additionally, the company opened a new regional headquarters and banking center in West Palm Beach, with further expansions planned in Miami Beach and Tampa.
The company’s allowance for credit losses increased by 15.7% to $98.27 million, reflecting a proactive approach to managing credit risk amid rising non-performing assets, which totaled $140.76 million, up from $122.18 million. The increase in non-performing loans was primarily due to downgrades based on year-end financials. Looking ahead, Amerant Bancorp remains focused on navigating the current economic landscape, which is characterized by uncertainty and potential recessionary pressures, while continuing to enhance its operational efficiency and customer service offerings.
About Amerant Bancorp Inc.
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