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Amerant Bancorp (AMTB)

Amerant Bancorp Inc. is a bank holding company headquartered in Coral Gables, Florida since 1979. The Company operates through its main subsidiaries, Amerant Bank, N.A. (the 'Bank'), Amerant Investments, Inc., Amerant Trust, N.A., Elant Bank and Trust Ltd. and Amerant Mortgage, LLC. The Company provides individuals and businesses in the U.S., as well as select international clients, with deposit, credit and wealth management services. The Bank, which has operated for over 40 years, is the second largest community bank headquartered in Florida. The Bank operates 25 banking centers - 18 in South Florida and 7 in the Houston, Texas area, as well as a commercial real estate loan production office in New York City.

Company profile

Ticker
AMTB
Exchange
CEO
Millar Wilson
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
Mercantil Bank Holding Corp
SEC CIK
Subsidiaries
Amerant Florida Bancorp Inc. • Amerant Investment Services Inc. • Amerant SPV, LLC • Amerant Ventures, LLC • Amerant Mortgage, LLC • Elant Bank & Trust Ltd. • CB Reit Holding Corporation • 220 Alhambra Properties LLC • MCNA Properties IV LLC • CTC Management Services LLC ...
IRS number
650032379

AMTB stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

29 Jul 22
20 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 354.06M 354.06M 354.06M 354.06M 354.06M 354.06M
Cash burn (monthly) (no burn) (no burn) (no burn) (no burn) 12.21M 1.11M
Cash used (since last report) n/a n/a n/a n/a 20.57M 1.87M
Cash remaining n/a n/a n/a n/a 333.49M 352.18M
Runway (months of cash) n/a n/a n/a n/a 27.3 317.0

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
3 Aug 22 Armando Fleitas Class A Common Stock Buy Acquire P No No 26.61 200 5.32K 10,946
3 Aug 22 Silvio Marshall Martin Class A Common Stock Buy Acquire P No No 26.3876 500 13.19K 3,950
2 Aug 22 Howard A. Levine Class A Common Stock Buy Acquire P No No 26.9319 200 5.39K 200
25 Jul 22 Gerald P Plush Class A Common Stock Buy Acquire P No No 27.1399 1,000 27.14K 30,870
9 Jun 22 Vollmer A. Gustavo J Class A Common Stock Sale back to company Dispose D No No 28.22 2,191 61.83K 553
9 Jun 22 Vollmer A. Gustavo J Class A Common Stock Option exercise Acquire M No No 0 2,191 0 2,744
9 Jun 22 Vollmer A. Gustavo J RSU Class A Common Stock Grant Acquire A No No 0 1,725 0 1,725
9 Jun 22 Vollmer A. Gustavo J RSU Class A Common Stock Option exercise Dispose M No No 0 2,191 0 0
13F holders Current Prev Q Change
Total holders 0 0
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares Current Prev Q Change
Total value 0 0
Total shares 0 0
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Largest transactions Shares Bought/sold Change

Financial report summary

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Risks
  • Our concentration of CRE loans could result in increased loan losses, and adversely affect our business, earnings, and financial condition.
  • Our valuation of securities and investments and the determination of the impairment amounts taken on our investments are subjective and, if changed, could materially adversely affect our results of operations or financial condition.
  • Our strategic plan and growth strategy may not be achieved as quickly or as fully as we seek.
  • Nonperforming and similar assets take significant time to resolve and may adversely affect our results of operations and financial condition.
  • We may be contractually obligated to repurchase mortgage loans we sold to third-parties on terms unfavorable to us.
  • Mortgage Servicing Rights, or MSRs, requirements may change and require us to incur additional costs and risks.
  • Our success depends on our ability to compete effectively in highly competitive markets.
  • Defaults by or deteriorating asset quality of other financial institutions could adversely affect us.
  • The COVID-19 pandemic and actions taken by governmental authorities to mitigate its spread have significantly impacted economic conditions, and a future outbreak of COVID-19 or another highly contagious disease, could adversely affect our business activities, results of operations and financial condition.
  • We may determine that our internal controls and disclosure controls could have deficiencies or weaknesses.
  • Technological changes affect our business including potentially impacting the revenue stream of traditional products and services, and we may have fewer resources than many competitors to invest in technological improvements.
  • Our information systems may experience interruptions and security breaches, and are exposed to cybersecurity threats.
  • Any failure to protect the confidentiality of customer information could adversely affect our reputation and subject us to financial sanctions and other costs that could have a material adverse effect on our business, financial condition and results of operations.
  • Future acquisitions and expansion activities may disrupt our business, dilute shareholder value and adversely affect our operating results.
  • We may not be able to generate sufficient cash to service all of our debt, including the Senior Notes.
  • We and Amerant Florida, the subsidiary guarantor, are each a holding company with limited operations and depend on our subsidiaries for the funds required to make payments of principal and interest on the Senior Notes.
  • We may incur a substantial level of debt that could materially adversely affect our ability to generate sufficient cash to fulfill our obligations under the Senior Notes.
  • Our business may be adversely affected by economic conditions in general and by conditions in the financial markets.
  • We are subject to extensive regulation that could limit or restrict our activities and adversely affect our earnings.
  • Litigation and regulatory investigations are increasingly common in our businesses and may result in significant financial losses and/or harm to our reputation.
  • We will be subject to heightened regulatory requirements if our total assets grow in excess of $10 billion.
  • The Federal Reserve may require us to commit capital resources to support the Bank.
  • We may face higher risks of noncompliance with the Bank Secrecy Act and other anti-money laundering statutes and regulations than other financial institutions.
  • Failures to comply with the fair lending laws, CFPB regulations or the Community Reinvestment Act, or CRA, could adversely affect us.
  • We have the ability to issue additional equity securities, which would lead to dilution of our issued and outstanding Class A common stock.
  • Certain provisions of our amended and restated articles of incorporation and amended and restated bylaws, Florida law, and U.S. banking laws could have anti-takeover effects.
  • We are an “emerging growth company,” and, as a result of the reduced disclosure and governance requirements applicable to emerging growth companies, our common stock may be less attractive to investors.
  • We may be unable to attract and retain key people to support our business.
  • Severe weather, natural disasters, global pandemics, acts of war or terrorism, theft, civil unrest, government expropriation or other external events could have significant effects on our business.
Management Discussion
  • In 2021, we reported net income attributable to the Company of $112.9 million, or $3.01 per diluted share, compared to a net loss of $1.7 million, or $0.04 loss per diluted share, in 2020, mainly due to: (i) the $16.5 million reversal of the allowance for loan losses in 2021, compared to a $88.6 million provision for loan losses recorded in 2020, mainly the result of improved macro-economic conditions and upgrades, payoffs and pay-downs of non-performing loans and special mention loans, and decision to sell certain loans from our New York CRE loans portfolio; (ii) higher noninterest income mainly driven by a $62.4 million gain on the sale of the Company’s headquarters building, and (iii) higher net interest income. These results were partially offset by higher noninterest expenses. Net income attributable to the Company excludes a net loss of $2.6 million attributable to a 49% non-controlling interest of Amerant Mortgage Inc. which commenced operations in May 2021. The Company attributed a net loss of $2.6 million to the non-controlling interest on the basis of a $5.3 million net loss for Amerant Mortgage Inc. in 2021, primarily derived from salary and employee benefits, mortgage lending costs and professional and other service fees which are included in our consolidated results of operations.

Content analysis

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Positive
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Legalese
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H.S. sophomore Avg
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