Amerant Bancorp reported net income of $25.7 million for the third quarter of 2026, reflecting improved profitability and a significant cleanup of the loan portfolio. Diluted EPS rose to $0.65 from $0.53 in the prior quarter, supported by higher net interest income and a reduction in classified assets.
Key Highlights
- Net interest margin expanded 25 basis points to 3.77%, aided by $1.6 million in interest recovered from nonaccrual loan repayments.
- Total gross loans increased 3.0% sequentially to $7.1 billion, while core deposits experienced a slight 2.0% contraction to $6.3 billion.
- Asset quality metrics improved as classified loans fell by 22.0% to $213.0 million and non-performing assets decreased 14.5% to $159.5 million.
- The efficiency ratio improved to 63.51% from 68.37% in the second quarter, reflecting disciplined noninterest expense management.
- The Board of Directors increased the share repurchase authorization to $50 million and extended the program through December 2027.