amtb-20250723
0001734342false00017343422025-07-232025-07-23
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 23, 2025
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Amerant Bancorp Inc.
(Exact name of registrant as specified in its charter) 
Florida 001-38534 65-0032379
(State or other jurisdiction
of incorporation		 (Commission
file number)		 (IRS Employer
Identification Number)
220 Alhambra Circle
Coral Gables, Florida
33134
(Address of principal executive offices)(Zip Code)
(305) 460-8728
      (Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolsName of exchange on which registered
Class A Common StockAMTBNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

On July 23, 2025, Amerant Bancorp Inc. (the "Company") issued a press release to report the Company’s financial results for the fiscal quarter ended June 30, 2025. The release is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference to this Item 2.02.

In accordance with General Instruction B.2. of Form 8-K, the information in this Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being “furnished” and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 7.01 Regulation FD Disclosure

On July 24, 2025, the Company will hold a live audio webcast to discuss its financial results for the fiscal quarter ended June 30, 2025. In connection with the webcast, the Company is furnishing to the U.S. Securities and Exchange Commission the earnings slide presentation attached as Exhibit 99.2 to this Current Report on Form 8-K and incorporated by reference to this Item 7.01.

In accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.2 attached hereto, is being “furnished” and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such a filing.

Item 8.01 Other Events.

On July 23, 2025, the Company announced that, on July 23, 2025, its Board of Directors declared a cash dividend of $0.09 per share of common stock. The dividend is payable on August 29, 2025, to shareholders of record at the close of business on August 15, 2025. A copy of the press release is attached hereto as Exhibit 99.3 and is incorporated herein by reference..

Item 9.01 Financial Statements and Exhibits
Number
Exhibit
99.1
99.2
99.3
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
Date: July 23, 2025 Amerant Bancorp Inc.
    
  By: /s/ Julio V. Pena
    Name: Julio V. Pena
    Title:  Executive Vice President,
Associate General Counsel and Corporate Secretary

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CONTACTS:
Investors
Laura Rossi
(305) 460-8728
Media
Alexis Dominguez
(305) 441-8412


AMERANT REPORTS SECOND QUARTER 2025 RESULTS
Board of Directors Declares Quarterly Cash Dividend of $0.09 per Share of Common Stock

CORAL GABLES, FLORIDA, July 23, 2025. Amerant Bancorp Inc. (NYSE: AMTB) (the “Company” or “Amerant”) today reported net income attributable to the Company of $23.0 million in the second quarter of 2025, or $0.55 income per diluted share, compared to net income of $12.0 million, or $0.28 income per diluted share, in the first quarter of 2025.
“We are pleased to report improved results this quarter, driven by higher core pre-provision net revenue combined with a lower provision for credit losses" stated Jerry Plush, Chairman and CEO. “As we head into the second half of 2025, we remain focused on continuing to execute on our strategy to become the bank of choice in the markets we serve.”

Below are the results for 2Q25 and their comparison to 1Q25:

•Total assets were $10.3 billion, up by $165.0 million, or 1.6%, compared to $10.2 billion.

•Total gross loans were $7.2 billion, down by $30.0 million, or 0.4%, compared to the prior period.

•Cash and cash equivalents were $636.8 million, down by $11.5 million, or 1.8%, compared to $648.4 million.

•Investment securities were $2.0 billion, up by $209.2 million, or 11.9%, compared to $1.8 billion.

•Total deposits were $8.3 billion, up by $151.6 million, or 1.9%, compared to $8.2 billion, primarily driven by customer deposit growth of $202.3 million, partially offset by a planned reduction of $50.7 million in brokered deposits. Core deposits were $6.1 billion, up by $150.6 million, or 2.5%, compared to $6.0 billion.

•Total advances from the Federal Home Loan Bank (“FHLB”) were $765.0 million, up by $50.0 million, or 7.0%, compared to $715.0 million.
•Net Interest Margin (“NIM”) was 3.81%, compared to 3.75%.

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•Average yield on loans was 6.88%, compared to 6.84%.

•Average cost of total deposits was 2.53%, compared to 2.60%.

•Loan to deposit ratio was 86.5%, compared to 88.5%.

•Asset Quality and Allowance for Credit Losses (“ACL”):

–Total non-performing assets were $97.9 million, down by $42.9 million, or 30.5%, compared to $140.8 million. As of 2Q25, non-performing assets consist of $82.5 million in non-performing loans and $15.4 million in Other Real Estate Owned (“OREO”).

–The ACL was $86.5 million, down by $11.7 million, or 12.0%, compared to $98.3 million, primarily from charge offs of $12.2 million on previously-reserved loans.

–The Company has provided additional details regarding asset quality in the 2Q25 earnings presentation (https://investor.amerantbank.com).

•Assets Under Management and custody (“AUM”) totaled $3.07 billion, up by $132.4 million, or 4.5% from $2.93 billion.

•Pre-provision net revenue (“PPNR”)(1) was $35.9 million, up by $2.0 million, or 5.9%, compared to PPNR of $33.9 million. Core PPNR(1) was $37.1 million, up by $5.6 million, or 17.7%, compared to $31.5 million. A reconciliation of core PPNR and the impact on key ratios is shown in Exhibit 2 included in this press release.

•Net Interest Income (“NII”) was $90.5 million, up by $4.6 million, or 5.3%, from $85.9 million.

•Provision for credit losses was $6.1 million, down by $12.4 million, or 67.1% compared to $18.4 million.

•Non-interest income was $19.8 million, up by $0.3 million, or 1.3% from $19.5 million.

•Non-interest expense was $74.4 million, up by $2.8 million, or 4.0% from $71.6 million.

•The efficiency ratio was 67.5%, compared to 67.9%.

•Return on average assets (“ROA”) was 0.90%, compared to 0.48%.

•Return on average equity (“ROE”) was 10.06%, compared to 5.32%.

•On July 23, 2025, the Company’s Board of Directors declared a cash dividend of $0.09 per share of common stock. The dividend is payable on August 29, 2025, to shareholders of record on August 15, 2025.

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Additional details on the second quarter 2025 results can be found in the Exhibits and Glossary of Terms and Definitions to this earnings release, and the earnings presentation available under the Investor Relations section of the Company’s website at https://investor.amerantbank.com. See Glossary of Terms and Definitions for definitions of financial terms.

1 Non-GAAP measure, see “Non-GAAP Financial Measures” for more information and Exhibit 2 for a reconciliation to GAAP measures.


Second Quarter 2025 Earnings Conference Call

The Company will hold an earnings conference call on Thursday, July 24, 2025 at 8:30 a.m. (Eastern Time) to discuss its second quarter 2025 results. The conference call and presentation materials can be accessed via webcast by logging on from the Investor Relations section of the Company’s website at https://investor.amerantbank.com. The online replay will remain available for approximately one month following the call through the above link.

About Amerant Bancorp Inc. (NYSE: AMTB)

Amerant Bancorp Inc. is a bank holding company headquartered in Coral Gables, Florida since 1979. The Company operates through its main subsidiary, Amerant Bank, N.A. (the “Bank”), as well as its other subsidiaries: Amerant Investments, Inc., and Amerant Mortgage, LLC. The Company provides individuals and businesses with deposit, credit and wealth management services. The Bank, which has operated for over 40 years, is headquartered in Florida and operates 20 banking centers – 19 in South Florida and 1 in Tampa, Florida. For more information, visit investor.amerantbank.com.


Cautionary Notice Regarding Forward-Looking Statements

This press release contains “forward-looking statements” including statements with respect to the Company’s objectives, expectations and intentions and other statements that are not historical facts. Examples of forward-looking statements include but are not limited to: our future operating or financial performance, including revenues, expenses, expense savings, income or loss and earnings or loss per share, and other financial items; statements regarding expectations, plans or objectives for future operations, products or services, and our expectations on our investment portfolio repositioning and loan recoveries or reaching positive resolutions on problem loans. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “point to,” “project,” “could,” “intend,” “target,” “goals,” “outlooks,” “modeled,” “dedicated,” “create,” and other similar words and expressions of the future.

Forward-looking statements, including those relating to our beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions, involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the Company’s actual results, performance, achievements, or financial condition to be materially different from future results, performance, achievements, or financial condition expressed or implied by such forward-looking statements. You should not rely on any forward-looking statements as predictions of future events. You should not expect us to update any forward-looking statements, except as required by law. All written or oral forward-looking statements
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attributable to us are expressly qualified in their entirety by this cautionary notice, together with those risks and uncertainties described in “Risk factors” in our annual report on Form 10-K for the fiscal year ended December 31, 2024 filed on March 5, 2025 (“the 2024 Form 10-K”), and in our other filings with the U.S. Securities and Exchange Commission (the “SEC”), which are available at the SEC’s website www.sec.gov.

Interim Financial Information

Unaudited financial information as of and for interim periods, including the three and six month periods ended June 30, 2025 and 2024, and the three month periods ended March 31, 2025, December 31 2024, and September 30, 2024 may not reflect our results of operations for our fiscal year ending, or financial condition, as of December 31, 2025, or any other period of time or date.
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Non-GAAP Financial Measures

The Company supplements its financial results that are determined in accordance with accounting principles generally accepted in the United States of America (“GAAP”) with non-GAAP financial measures, such as “pre-provision net revenue (PPNR)”, “core pre-provision net revenue (Core PPNR)”, “core noninterest income”, “core noninterest expense”, “core net income”, “core earnings per share (basic and diluted)”, “core return on assets (Core ROA)”, “core return on equity (Core ROE)”, “core efficiency ratio”, “tangible stockholders’ equity (book value) per common share”, “tangible common equity ratio, adjusted for net unrealized accumulated losses on debt securities held to maturity”, and “tangible stockholders' equity (book value) per common share, adjusted for net unrealized accumulated losses on debt securities held to maturity”. This supplemental information is not required by, or is not presented in accordance with GAAP. The Company refers to these financial measures and ratios as “non-GAAP financial measures”.

We use certain non-GAAP financial measures, including those mentioned above, both to explain our results to shareholders and the investment community and in the internal evaluation and management of our business. Management believes that these supplementary non-GAAP financial measures and the information they provide are useful to investors since these measures permit investors to view our performance using the same tools that our management uses to evaluate our past performance and prospects for future performance. While we believe that these non-GAAP financial measures are useful in evaluating our performance, this information should be considered as supplemental and not as a substitute for or superior to the related financial information prepared in accordance with GAAP. Additionally, these non-GAAP financial measures may differ from similar measures presented by other companies.

Exhibit 2 reconciles these non-GAAP financial measures to GAAP reported results.


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Exhibit 1- Selected Financial Information
The following table sets forth selected financial information derived from our interim unaudited and annual audited consolidated financial statements.

(in thousands)
June 30, 2025March 31, 2025December 31, 2024September 30, 2024June 30, 2024
Consolidated Balance Sheets(audited)
Total assets$10,334,678$10,169,688$9,901,734$10,353,127$9,747,738
Total investments1,970,8881,761,6781,497,9251,542,5441,547,864
Total gross loans (1)(2)
7,189,1967,219,1627,271,3227,561,9637,322,911
Allowance for credit losses86,51998,26684,96379,89094,400
Total deposits8,306,5448,154,9787,854,5958,110,9447,816,011
Core deposits (1)
6,143,6255,993,0555,620,1505,707,3665,505,349
Advances from the Federal Home Loan Bank765,000715,000745,000915,000765,000
Senior notes (3)
—59,92259,84359,76459,685
Subordinated notes29,71029,66729,62429,58229,539
Junior subordinated debentures 64,17864,17864,17864,17864,178
Stockholders' equity (4)(5)(6)
924,286906,263890,467902,888734,342
Assets under management and custody (1)
3,065,0202,932,6022,890,0482,550,5412,451,854


Three Months Ended
(in thousands, except percentages, share data and per share amounts)
June 30, 2025March 31, 2025December 31, 2024September 30, 2024June 30, 2024
Consolidated Results of Operations
Net interest income$90,479$85,904$87,635$80,999$79,355
Provision for credit losses (7)
6,06018,4469,91019,00019,150
Noninterest income (loss)19,77819,52523,684(47,683)19,420
Noninterest expense74,40071,55483,38676,20873,302
Net income (loss) attributable to Amerant Bancorp Inc.23,00211,95816,881(48,164)4,963
Effective income tax rate 22.80%22.50%6.34%22.18%21.51%
Common Share Data
Stockholders' book value per common share$22.14$21.60$21.14$21.44$21.88
Tangible stockholders' equity (book value) per common share (8)
$21.56$21.03$20.56$20.87$21.15
Tangible stockholders' equity (book value) per common share, adjusted for net unrealized accumulated losses on debt securities held to maturity (8)
$21.56$21.03$20.56$20.87$20.54
Basic earnings (loss) per common share$0.55$0.28$0.40$(1.43)$0.15
Diluted earnings (loss) per common share (9)
$0.55$0.28$0.40$(1.43)$0.15
Basic weighted average shares outstanding 41,805,55042,015,50742,069,09833,784,99933,581,604
Diluted weighted average shares outstanding (9)
41,873,55142,186,75942,273,77833,784,99933,780,666
Cash dividend declared per common share (5)
$0.09$0.09$0.09$0.09$0.09
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Three Months Ended
June 30, 2025March 31, 2025December 31, 2024September 30, 2024June 30, 2024
Other Financial and Operating Data (10)
Profitability Indicators (%)
Net interest income / Average total interest earning assets (NIM) (1)
3.81%3.75%3.75 %3.49 %3.56 %
Net income (loss)/ Average total assets (ROA)(1)
0.90%0.48 %0.67 %(1.92)%0.21 %
Net income (loss)/ Average stockholders' equity (ROE) (1)
10.06%5.32 %7.38 %(24.98)%2.68 %
Noninterest income (loss) / Total revenue (1)
17.94%18.52%21.28%(143.12)%19.66%
Capital Indicators (%)
Total capital ratio (1)
13.49%13.45%13.43 %12.72 %11.88 %
Tier 1 capital ratio (1)
11.97%11.84%11.95 %11.36 %10.34 %
Tier 1 leverage ratio (1)
9.69%9.73%9.66 %9.56 %8.74 %
Common equity tier 1 capital ratio (CET1) (1)
11.25%11.11%11.21 %10.65 %9.60 %
Tangible common equity ratio (1)(8)
8.73%8.69%8.77 %8.51 %7.30 %
Tangible common equity ratio, adjusted for net unrealized accumulated losses on debt securities held to maturity (1)(8)
8.73%8.69%8.77%8.51%7.11%
Liquidity Ratios (%)
Loans to Deposits (1)
86.55%88.52%92.57 %93.23 %93.69 %
Asset Quality Indicators (%)
Non-performing assets / Total assets (1)
0.95%1.38%1.23 %1.25 %1.24 %
Non-performing loans / Total gross loans (1)
1.15%1.71%1.43 %1.52 %1.38 %
Allowance for credit losses / Total non-performing loans
104.89%79.75%81.62 %69.51 %93.51 %
Allowance for credit losses / Total loans held for investment1.20%1.37%1.18 %1.15 %1.41 %
Net charge-offs / Average total loans held for investment (1)(11)
0.86%0.22%0.26 %1.90 %1.13 %
Efficiency Indicators (% except FTE)
Noninterest expense / Average total assets2.91%2.89%3.29 %3.04 %3.03 %
Salaries and employee benefits / Average total assets1.41%1.35%1.39 %1.39 %1.40 %
Other operating expenses/ Average total assets (1)
1.50%1.54%1.90 %1.64 %1.63 %
Efficiency ratio (1)
67.48%67.87%74.91 %228.74 %74.21 %
Full-Time-Equivalent Employees (FTEs) (12)
692726698735720


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Three Months Ended
(in thousands, except percentages and per share amounts)
June 30, 2025March 31, 2025December 31, 2024September 30, 2024June 30, 2024
Core Selected Consolidated Results of Operations and Other Data (8)
Pre-provision net revenue (loss) (PPNR)
$35,857 $33,875 $27,933 $(42,892)$25,473 
Core pre-provision net revenue (Core PPNR)$37,122 $31,546 $37,217 $31,264 $31,007 
Core net income
$23,984 $10,153 $21,160 $9,249 $9,307 
Core basic earnings per common share
0.57 0.24 0.50 0.27 0.28 
Core earnings per diluted common share (9)
0.57 0.24 0.50 0.27 0.28 
Core net income / Average total assets (Core ROA) (1)
0.94%0.41%0.83 %0.37 %0.38 %
Core net income / Average stockholders' equity (Core ROE) (1)
10.49%4.52%9.25 %4.80 %5.03 %
Core efficiency ratio (1)
66.35%69.24%64.71 %69.29 %68.60 %

__________________
(1)     See Glossary of Terms and Definitions for definitions of financial terms.
(2) All periods include mortgage loans held for sale carried at fair value, while March 31, 2025, September 30, 2024 and June 30, 2024 also include loans held for sale carried at the lower of estimated cost or fair value. At June 30, 2025 and December 31, 2024, there were no loans carried at the lower of cost or fair value.
(3) On April 01, 2025, the Company redeemed all outstanding Senior Notes. See Note 1 to the Company’s consolidated financial statements in our March 31, 2025 Form 10-Q for more information.
(4) On December 11, 2024, the Company announced that the Board of Directors approved to extend the expiration date of its share repurchase program that was set to expire on December 31, 2024 to December 31, 2025 (the “Repurchase Program”). Subsequently, on May 28, 2025, the Company announced that the Board of Directors approved an increase in the amount available for repurchases of the Company’ shares of Class A common stock under the Repurchase Program to $25 million. In the second quarter of 2025 the Company repurchased an aggregate of 275,666 shares of Class A common stock at a weighted average price of $18.14 per share under the Repurchase Program. The aggregate purchase price for these transactions was approximately $5.0 million which includes transaction costs. For all other periods, see March 31, 2025 Form 10-Q, December 31, 2024 Form 10-K, September 30, 2024 Form 10-Q and June 30, 2024 Form 10-Q.
(5) During the three months ended June 30, 2025, March 31, 2025, and December 31, 2024, the Company’s Board of Directors declared cash dividends of $0.09 per share of the Company’s common stock and paid an aggregate amount of $3.8 million per quarter in connection with these dividends. The dividend declared in the second quarter of 2025 was paid on May 30, 2025 to shareholders of record at the close of business on May 15, 2025. See December 31, 2024 Form 10-K for more information on dividend payments during the previous quarters.
(6) On September 27, 2024, the Company completed a public offering of 8,684,210 shares of its Class A voting common stock, at a price to the public of $19.00 per share.
(7) In all periods shown, includes reserves on loans and contingent loans. In the second and first quarter of 2025, and the fourth, third and second quarters of 2024, includes $3.6 million, $17.2 million, $9.7 million, $17.9 million and $17.7 million of provision for credit losses on loans. Provision for unfunded commitments (contingencies) in the second and first quarters of 2025 and the fourth, third and second quarters of 2024, were $2.5 million, $1.3 million, $0.2 million, $1.1 million, and $1.5 million, respectively.
(8) This presentation contains adjusted financial information determined by methods other than GAAP. This adjusted financial information is reconciled to GAAP in Exhibit 2 - Non-GAAP Financial Measures Reconciliation.
(9) See 2024 Form 10-K for more information on potential dilutive instruments and its impact on diluted earnings per share computation.
(10) Operating data for the periods presented have been annualized.
(11) See the Company’s March 31, 2025 Form 10-Q, as well as, the 2024 Form 10-K for more details on charge-offs for all previous periods.
(12) As of June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024 and June 30, 2024, includes 35, 77, 80, 81 and 83 FTEs for Amerant Mortgage, respectively.



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Exhibit 2- Non-GAAP Financial Measures Reconciliation
The following table sets forth selected financial information derived from the Company’s interim unaudited and annual audited consolidated financial statements, adjusted for the effect of non-core banking activities such as the sale of loans and securities and other repossessed assets, the Amerant Mortgage downsizing, the Houston Transaction, the valuation of securities, derivatives, loans held for sale and other real estate owned and repossessed assets, the early repayment of FHLB advances, impairment of investments, and other non-routine actions intended to improve customer service and operating performance. The Company believes these adjusted numbers are useful for understanding its performance excluding these transactions and events.
    

Three Months Ended,
(in thousands)
June 30, 2025March 31, 2025December 31, 2024September 30, 2024June 30, 2024
Net income (loss) attributable to Amerant Bancorp Inc.$23,002 $11,958 $16,881 $(48,164)$4,963 
Plus: provision for credit losses (1)
6,060 18,446 9,910 19,000 19,150 
Plus: provision for income tax expense (benefit)6,795 3,471 1,142 (13,728)1,360 
Pre-provision net revenue (loss) (PPNR)
35,857 33,875 27,933 (42,892)25,473 
Plus: non-routine noninterest expense items1,192 534 15,148 5,672 5,562 
(Less) plus: non-routine noninterest income items73 (2,863)(5,864)68,484 (28)
Core pre-provision net revenue (Core PPNR)$37,122 $31,546 $37,217 $31,264 $31,007 
Total noninterest income (loss)$19,778 $19,525 $23,684 $(47,683)$19,420 
Less (plus): Non-routine noninterest income (loss) items:
Derivatives (losses), net (2)
(1,852)— — — (44)
Securities gains (losses), net (3)
1,779 64 (8,200)(68,484)(117)
Gain on sale of loans (4)
— 2,799 — — — 
Gain on sale of Houston Franchise (5)
— — 12,636 — — 
Gains on early extinguishment of FHLB advances, net— — 1,428 — 189 
Total non-routine noninterest income (loss) items$(73)$2,863 $5,864 $(68,484)$28 
Core noninterest income$19,851 $16,662 $17,820 $20,801 $19,392 
Total noninterest expense
$74,400 $71,554 $83,386 $76,208 $73,302 
Less: non-routine noninterest expense items
Non-routine noninterest expense items:
Losses on loans held for sale carried at the lower cost or fair value (5)(6)
— — 12,642 — 1,258 
Net losses on sale and valuation expense on other real estate owned (7)
822 534 — 5,672 — 
Amerant Mortgage downsize costs (8)
370 — — — — 
Goodwill and intangible assets impairment (5)
— — — — 300 
Fixed assets impairment (5)(9)
— — — — 3,443 
Legal, broker fees and other costs (5)
— — 2,506 — 561 
Total non-routine noninterest expense items$1,192 $534 $15,148 $5,672 $5,562 
Core noninterest expense
$73,208 $71,020 $68,238 $70,536 $67,740 
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Three Months Ended,
(in thousands, except percentages and per share amounts)
June 30, 2025March 31, 2025December 31, 2024September 30, 2024June 30, 2024
Net income (loss) attributable to Amerant Bancorp Inc.$23,002$11,958$16,881$(48,164)$4,963
Plus after-tax non-routine items in noninterest expense:
Non-routine items in noninterest expense before income tax effect1,19253415,1485,6725,562
Income tax effect (10)
(272)(120)(3,409)(1,332)(1,196)
Total after-tax non-routine items in noninterest expense92041411,7394,3404,366
Plus (less) after-tax non-routine items in noninterest income:
Non-routine items in noninterest income (loss) before income tax effect73(2,863)(5,864)68,484(28)
Income tax effect (10)
(11)644(1,596)(15,411)6
Total after-tax non-routine items in noninterest income (loss)62(2,219)(7,460)53,073(22)
Core net income
$23,984$10,153$21,160$9,249$9,307
Basic earnings (loss) per share
$0.55$0.28$0.40$(1.43)$0.15
Plus: after tax impact of non-routine items in noninterest expense
0.020.010.280.130.13
(Less) plus: after tax impact of non-routine items in noninterest income (loss)
—(0.05)(0.18)1.57—
Total core basic earnings per common share
$0.57$0.24$0.50$0.27$0.28
Diluted earnings (loss) per share (11)
$0.55$0.28$0.40$(1.43)$0.15
Plus: after tax impact of non-routine items in noninterest expense
0.020.010.280.130.13
(Less) plus: after tax impact of non-routine items in noninterest income (loss)
—(0.05)(0.18)1.57—
Total core diluted earnings per common share
$0.57$0.24$0.50$0.27$0.28
Net income (loss) / Average total assets (ROA)
0.90 %0.48 %0.67 %(1.92)%0.21 %
Plus: after tax impact of non-routine items in noninterest expense
0.04 %0.02 %0.46 %0.18 %0.17 %
(Less) plus: after tax impact of non-routine items in noninterest income (loss)
— %(0.09)%(0.30)%2.11 %— %
Core net income / Average total assets (Core ROA)
0.94 %0.41 %0.83 %0.37 %0.38 %
Net income (loss)/ Average stockholders' equity (ROE)
10.06 %5.32 %7.38 %(24.98)%2.68 %
Plus: after tax impact of non-routine items in noninterest expense
0.40 %0.19 %5.13 %2.25 %2.36 %
Plus (less) : after tax impact of non-routine items in noninterest income (loss)
0.03 %(0.99)%(3.26)%27.53 %(0.01)%
Core net income / Average stockholders' equity (Core ROE)
10.49 %4.52 %9.25 %4.80 %5.03 %
Efficiency ratio67.48 %67.87 %74.91 %228.74 %74.21 %
(Less) plus: impact of non-routine items in noninterest expense and noninterest income (loss)
(1.13)%1.37 %(10.20)%(159.45)%(5.61)%
Core efficiency ratio66.35 %69.24 %64.71 %69.29 %68.60 %
10
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(in thousands, except percentages, share data and per share amounts)
June 30, 2025March 31, 2025December 31, 2024September 30, 2024June 30, 2024
Stockholders' equity$924,286$906,263$890,467$902,888$734,342
Less: goodwill and other intangibles (12)
(24,016)(24,135)(24,314)(24,366)(24,581)
Tangible common stockholders' equity$900,270$882,128$866,153$878,522$709,761
Total assets10,334,67810,169,6889,901,73410,353,1279,747,738
Less: goodwill and other intangibles (12)
(24,016)(24,135)(24,314)(24,366)(24,581)
Tangible assets$10,310,662$10,145,553$9,877,420$10,328,761$9,723,157
Common shares outstanding41,748,43441,952,59042,127,31642,103,62333,562,756
Tangible common equity ratio8.73 %8.69 %8.77 %8.51 %7.30 %
Stockholders' book value per common share$22.14$21.60$21.14$21.44$21.88
Tangible stockholders' equity book value per common share$21.56$21.03$20.56$20.87$21.15
Tangible common stockholders' equity$900,270$882,128$866,153$878,522$709,761
Less: Net unrealized accumulated losses on debt securities held to maturity, net of tax (13)
— — ——(20,304)
Tangible common stockholders' equity, adjusted for net unrealized accumulated losses on debt securities held to maturity$900,270$882,128$866,153$878,522$689,457
Tangible assets$10,310,662$10,145,553$9,877,420$10,328,761$9,723,157
Less: Net unrealized accumulated losses on debt securities held to maturity, net of tax (13)
————(20,304)
Tangible assets, adjusted for net unrealized accumulated losses on debt securities held to maturity$10,310,662$10,145,553$9,877,420$10,328,761$9,702,853
Common shares outstanding41,748,43441,952,59042,127,31642,103,62333,562,756
Tangible common equity ratio, adjusted for net unrealized accumulated losses on debt securities held to maturity8.73 %8.69 %8.77 %8.51 %7.11 %
Tangible stockholders' book value per common share, adjusted for net unrealized accumulated losses on debt securities held to maturity$21.56$21.03$20.56$20.87$20.54
____________
(1)     Includes provision for credit losses on loans and provision for loan contingencies. See Footnote 7 in Exhibit 1 - Selected Financial Information for more details.
(2) In the three and six months ended June 30, 2025, includes net unrealized losses in connection with to-be-announced (TBA) mortgage back-securities (MBS) derivative contracts. We enter into these contracts to economically offset changes in market valuation on the trading securities portfolio. In all other prior periods, amounts are related to uncovered interest rate caps with clients.
(3) In the third quarter of 2024, the Company executed an investment portfolio repositioning which resulted in a total pre-tax net loss of $68.5 million during the same period. The investment portfolio repositioning was completed in early October 2024 resulting in an additional $8.1 million in losses in the fourth quarter of 2024.
(4)    In the three months ended March 31, 2025, includes gain on sale of $3.2 million, related to the sale of a loan that had been charged off in prior periods.
(5) In the three months ended December 31, 2024 and June 30, 2024, amounts shown are in connection with the sale of the Company’s Houston franchise which were disclosed on a Form 8-K on April 17, 2024 (the “Houston Transaction”).
(6) In the three months ended December 31, 2024, includes loss on sale of $12.6 million, including transaction costs, related to the sale of a portfolio of 323 business-purpose, investment property, residential mortgage loans with a balance of approximately $71.4 million.
(7) In the three months ended June 30, 2025, includes a net loss on the sale of two OREO properties of $0.8 million. The three months ended March 31, 2025 and September 30, 2024 include an OREO valuation expense of $0.5 million and $5.7 million, respectively.
(8) In the three months ended June 30, 2025, includes salaries and employee benefit expenses in connection with Amerant Mortgage downsizing costs. See First Quarter Earnings Presentation filed on April 24, 2025 for more information.
(9) Related to Houston branches and included as part of occupancy and equipment expenses.
(10) In the three months ended March 30, 2025, amounts were calculated based upon the effective tax rate for the period of 22.50%. For all of the other periods shown, amounts represent the difference between the prior and current period year-to-date tax effect.
11
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(11) See 2024 Form 10-K for more information on potential dilutive instruments and its impact on diluted earnings per share computation.
(12) At June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024 and June 30, 2024, other intangible assets primarily consist of naming rights of $1.7 million, $1.9 million, $2.0 million, $2.1 million and $2.3 million, respectively, and mortgage servicing rights (“MSRs”) of $1.5 million, $1.4 million, $1.5 million, $1.4 million and $1.5 million, respectively. Other intangible assets are included in other assets in the Company’s consolidated balance sheets.
(13) There were no debt securities held to maturity at June 30, 2025, March 31, 2025, December 31, 2024 and September 30, 2024. As of June 30, 2024, amounts were calculated based upon the fair value on debt securities held to maturity, and assuming a tax rate of 25.38%.
12
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Exhibit 3 - Average Balance Sheet, Interest and Yield/Rate Analysis
The following tables present average balance sheet information, interest income, interest expense and the corresponding average yields earned and rates paid for the periods presented. The average balances for loans include both performing and nonperforming balances. Interest income on loans includes the effects of discount accretion and the amortization of non-refundable loan origination fees, net of direct loan origination costs, accounted for as yield adjustments. Average balances represent the daily average balances for the periods presented.
Three Months Ended
June 30, 2025March 31, 2025June 30, 2024
(in thousands, except percentages) Average
Balances		Income/
Expense		Yield/
Rates		Average BalancesIncome/ ExpenseYield/ RatesAverage
 Balances		Income/
Expense		Yield/
Rates
Interest-earning assets:
Loan portfolio, net (1)(2)$7,118,087 $122,166 6.88 %$7,174,160 $121,021 6.84 %$7,049,109 $124,117 7.08 %
Debt securities available for sale (3) (4)1,769,440 21,931 4.97 %1,473,170 17,964 4.95 %1,267,828 14,104 4.47 %
Debt securities held to maturity (5)— — — %— — — %221,106 1,878 3.42 %
Debt securities held for trading 59,331 343 2.32 %156 — — %— — — %
Equity securities with readily determinable fair value not held for trading2,508 21 3.36 %2,497 19 3.09 %2,466 13 2.12 %
Federal Reserve Bank and FHLB stock57,072 917 6.44 %57,320 936 6.62 %54,664 955 7.03 %
Deposits with banks514,478 5,643 4.40 %580,409 6,401 4.47 %364,466 5,260 5.80 %
Other short-term investments7,046 74 4.21 %6,434 67 4.22 %6,399 82 5.15 %
Total interest-earning assets9,527,962 151,095 6.36 %9,294,146 146,408 6.39 %8,966,038 146,409 6.57 %
Total non-interest-earning assets (6)728,292 748,385 763,628 
Total assets$10,256,254 $10,042,531 $9,729,666 

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Three Months Ended
June 30, 2025March 31, 2025June 30, 2024
(in thousands, except percentages) Average
Balances		Income/
Expense		Yield/
Rates		Average BalancesIncome/ ExpenseYield/ RatesAverage
 Balances		Income/
Expense		Yield/
Rates
Interest-bearing liabilities:
Checking and saving accounts
Interest bearing DDA $2,289,111$11,567 2.03 %$2,133,727$10,454 1.99 %$2,408,979$16,7792.80 %
Money market1,925,02918,012 3.75 %1,810,17216,653 3.73 %1,411,28714,9734.27 %
Savings236,92918 0.03 %239,84322 0.04 %253,625260.04 %
Total checking and saving accounts4,451,06929,597 2.67 %4,183,74227,129 2.63 %4,073,89131,7783.14 %
Time deposits2,149,86122,285 4.16 %2,227,93223,858 4.34 %2,258,97325,9714.62 %
Total deposits6,600,93051,882 3.15 %6,411,67450,987 3.23 %6,332,86457,7493.67 %
Securities sold under agreements to repurchase105 1 3.82 %— — — %1242 6.49 %
Advances from the FHLB (7)717,2607,230 4.04 %723,6677,200 4.04 %737,6586,9463.79 %
Senior notes—78 — %59,883942 6.38 %59,6469416.35 %
Subordinated notes29,689361 4.88 %29,646361 4.94 %29,5193614.92 %
Junior subordinated debentures64,1781,064 6.64 %64,1781,014 6.41 %64,1781,0556.61 %
Total interest-bearing liabilities7,412,16260,616 3.28 %7,289,04860,504 3.37 %7,223,98967,0543.73 %
Non-interest-bearing liabilities:
Non-interest bearing demand deposits1,637,1731,544,7701,452,921
Accounts payable, accrued liabilities and other liabilities289,909297,491 309,298
Total non-interest-bearing liabilities1,927,0821,842,2611,762,219
Total liabilities9,339,2449,131,3098,986,208
Stockholders’ equity917,010911,222 743,458
Total liabilities and stockholders' equity$10,256,254 $10,042,531 $9,729,666
Excess of average interest-earning assets over average interest-bearing liabilities$2,115,800 $2,005,098 $1,742,049
Net interest income$90,479 $85,904 $79,355 
Net interest rate spread3.08 %3.02 %2.84 %
Net interest margin (7)
3.81 %3.75 %3.56 %
Cost of total deposits (7)
2.53 %2.60 %2.98 %
Ratio of average interest-earning assets to average interest-bearing liabilities128.54 %127.51 %124.11 %
Average non-performing loans/ Average total loans1.35 %1.43 %0.60 %
___________
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Six Months Ended
June 30, 2025June 30, 2024
(in thousands, except percentages) Average
Balances		Income/
Expense		Yield/
Rates		Average
 Balances		Income/
Expense		Yield/
Rates
Interest-earning assets:
Loan portfolio, net (1)(2)$7,145,968$243,187 6.86 %$7,018,015$246,822 7.07 %
Debt securities available for sale (3) (4)1,622,12339,895 4.96 %1,253,79527,290 4.38 %
Debt securities held to maturity (5)—— — %222,9923,845 3.47 %
Debt securities held for trading29,907343 2.31 %—— — %
Equity securities with readily determinable fair value not held for trading2,50340 3.22 %2,47268 5.53 %
Federal Reserve Bank and FHLB stock57,1951,853 6.53 %52,4221,838 7.05 %
Deposits with banks547,26212,044 4.44 %393,65411,011 5.63 %
Other short-term investments6,742141 4.23 %6,165160 5.22 %
Total interest-earning assets9,411,700297,503 6.37 %8,949,515291,034 6.54 %
Total non-interest-earning assets (6)738,283792,602
Total assets$10,149,983$9,742,117
Interest-bearing liabilities:
Checking and saving accounts
Interest bearing DDA $2,211,848$22,021 2.01 %$2,427,170$34,515 2.86 %
Money market1,867,91834,665 3.74 %1,421,61829,807 4.22 %
Savings238,37840 0.03 %258,07753 0.04 %
Total checking and saving accounts4,318,14456,726 2.65 %4,106,86564,375 3.15 %
Time deposits2,188,68146,143 4.25 %2,274,78052,095 4.61 %
Total deposits6,506,825102,869 3.19 %6,381,645116,470 3.67 %
Securities sold under agreements to repurchase531 3.80 %622 6.49 %
Advances from the FHLB (7)
720,44614,430 4.04 %691,20612,524 3.64 %
Senior notes29,7761,020 6.91 %59,6061,883 6.35 %
Subordinated notes29,668722 4.91 %29,497723 4.93 %
Junior subordinated debentures64,1782,078 6.53 %64,1782,109 6.61 %
Total interest-bearing liabilities7,350,946121,120 3.32 %7,226,194133,711 3.72 %
Non-interest-bearing liabilities:
Non-interest bearing demand deposits1,591,227 1,444,073
Accounts payable, accrued liabilities and other liabilities293,677 326,809
Total non-interest-bearing liabilities1,884,904 1,770,882
Total liabilities9,235,850 8,997,076
Stockholders’ equity914,133 745,041
Total liabilities and stockholders' equity$10,149,983 $9,742,117
Excess of average interest-earning assets over average interest-bearing liabilities$2,060,754 $1,723,321
Net interest income$176,383 $157,323 
Net interest rate spread3.05 %2.82 %
Net interest margin (7)
3.78 %3.54 %
Cost of total deposits (7)
2.56 %2.99 %
Ratio of average interest-earning assets to average interest-bearing liabilities128.03%123.85%
Average non-performing loans/ Average total loans1.39%0.61%
15
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(1)    Includes loans held for investment net of the allowance for credit losses, and loans held for sale. The average balance of the allowance for credit losses was $94.8 million, $83.5 million, and $95.6 million in the three months ended June 30, 2025, March 31, 2025 and June 30, 2024, respectively, and $89.2 million and $94.0 million in the six months ended June 30, 2025 and 2024, respectively. The average balance of total loans held for sale was $53.6 million, $46.2 million and $191.7 million in the three months ended June 30, 2025, March 31, 2025 and June 30, 2024, respectively, and $49.9 million and $90.0 million in the six months ended June 30, 2025 and 2024, respectively.
(2) Includes average non-performing loans of $97.6 million, $103.6 million and $52.7 million for the three months ended June 30, 2025, March 31, 2025 and June 30, 2024, respectively, and $100.6 million and $42.7 million in the six months ended June 30, 2025 and 2024, respectively.
(3)    Includes the average balance of net unrealized gains and losses in the fair value of debt securities available for sale. The average balance includes average net unrealized losses of $43.5 million, $47.0 million and $115.8 million in the three months ended June 30, 2025, March 31, 2025 and June 30, 2024, respectively, and $45.2 million and $108.6 million in the six months ended June 30, 2025 and 2024, respectively.
(4)    Includes nontaxable securities with average balances of $53.9 million, $54.3 million and $18.8 million for the three months ended June 30, 2025, March 31, 2025 and June 30, 2024, respectively, and $54.6 million and $18.8 million in the six months ended June 30, 2025 and 2024, respectively. The tax equivalent yield for these nontaxable securities was 4.81%, 4.77%, and 4.47% for the three months ended June 30, 2025, March 31, 2025 and June 30, 2024, respectively, and 4.75% and 4.51% in the six months ended June 30, 2025 and 2024, respectively. In 2025 and 2024, the tax equivalent yields were calculated assuming a 21% tax rate and dividing the actual yield by 0.79.
(5)    We had no average held to maturity balances in the three months ended June 30, 2025 and March 31, 2025. Includes nontaxable securities with average balances of $47.8 million and $48.1 million for the three and six months ended June 30, 2024, respectively. The tax equivalent yield for these nontaxable securities were 4.23% and 4.24% for the three and six months ended June 30, 2024, respectively. In 2024, the tax equivalent yield was calculated assuming a 21% tax rate and dividing the actual yield by 0.79.
(6)    Excludes the allowance for credit losses.
(7) See Glossary of Terms and Definitions for definitions of financial terms.


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Exhibit 4 - Noninterest Income
    This table shows the amounts of each of the categories of noninterest income for the periods presented.
Three Months Ended Six Months Ended June 30,
June 30, 2025March 31, 2025June 30, 202420252024
(in thousands, except percentages)Amount % Amount % Amount%Amount%Amount%
Deposits and service fees$4,968 25.1 %$5,137 26.3 %$5,281 27.2 %$10,105 25.7 %$9,606 28.3 %
Brokerage, advisory and fiduciary activities4,993 25.2 %4,729 24.2 %4,538 23.4 %9,722 24.7 %8,865 26.1 %
Change in cash surrender value of bank owned life insurance (“BOLI”)(1)
2,490 12.6 %2,450 12.5 %2,242 11.5 %4,940 12.6 %4,584 13.5 %
Cards and trade finance servicing fees1,804 9.1 %1,392 7.1 %1,331 6.9 %3,196 8.1 %2,554 7.5 %
Gain on early extinguishment of FHLB advances, net— — %— — %189 1.0 %— — %189 0.6 %
Securities gains (losses), net (2)
1,779 9.0 %64 0.3 %(117)(0.6)%1,843 4.7 %(171)(0.5)%
Loan-level derivative income (3)
3,204 16.2 %1,508 7.7 %2,357 12.1 %4,712 12.0 %2,823 8.3 %
Derivative losses, net (4)
(1,852)(9.4)%— — %(44)(0.2)%(1,852)(4.7)%(196)(0.6)%
Other noninterest income (5)
2,392 12.2 %4,245 21.9 %3,643 18.7 %6,637 16.9 %5,654 16.8 %
Total noninterest income
$19,778 100.0 %$19,525 100.0 %$19,420 100.0 %$39,303 100.0 %$33,908 100.0 %
__________________
(1)    Changes in cash surrender value of BOLI are not taxable.
(2) In the three and six months ended June 30, 2025, amounts are primarily in connection with gains on market valuation of trading securities. In the three and six months ended June 30, 2024, amounts are primarily in connection with losses and gains on the sale of debt securities available for sale.
(3) Income from interest rate swaps and other derivative transactions with customers. The Company incurs expenses related to derivative transactions with customers which are included as part of noninterest expenses under loan-level derivative expense. See Exhibit 5 for more details.
(4) In the three and six months ended June 30, 2025, includes net unrealized losses in connection with TBA MBS derivative contracts. We enter into these contracts to economically offset changes in market valuation on the trading securities portfolio. In all other prior periods, includes net unrealized losses and gains related to uncovered interest rate caps with clients.
(5)    Includes mortgage banking income of $0.7 million, $0.4 million and $1.9 million in the three months ended June 30, 2025, March 31, 2025 and June 30, 2024, respectively, and $1.2 million and $3.0 million, in the six months ended June 30, 2025 and 2024, respectively, primarily consisting of net gains on sale, valuation and derivative transactions associated with mortgage loans held for sale activity, and other smaller sources of income related to the operations of Amerant Mortgage. Other sources of income in the periods shown include net gains/(losses) on sales of loans that are originated for investment, foreign currency exchange transactions with customers and valuation income on the investment balances held in the non-qualified deferred compensation plan. In addition, includes $0.5 million BOLI death benefits received in the three and six months ended June 30, 2024. Other noninterest income for the period ended March 31, 2025 includes a total of approximately $2.8 million as a Non-routine noninterest income item. See Exhibit 2- Non-GAAP Financial Measures Reconciliation for more details.
17
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Exhibit 5 - Noninterest Expense

This table shows the amounts of each of the categories of noninterest expense for the periods presented.
Three Months Ended
Six Months Ended June 30,
June 30, 2025March 31, 2025June 30, 202420252024
(in thousands, except percentages)Amount % Amount % Amount % Amount%Amount%
Salaries and employee benefits (1)
$36,036 48.4 %$33,347 46.6 %$33,857 46.2 %$69,383 47.5 %$66,815 47.8 %
Professional and other services fees (2)
13,549 18.2 %14,682 20.5 %12,110 16.5 %28,231 19.3 %23,073 16.5 %
Occupancy and equipment (3)
5,491 7.4 %6,136 8.6 %9,041 12.3 %11,627 8.0 %15,517 11.1 %
Telecommunications and data processing2,929 3.9 %3,475 4.9 %2,732 3.7 %6,404 4.4 %6,265 4.5 %
Depreciation and amortization1,551 2.1 %1,588 2.2 %1,652 2.3 %3,139 2.2 %3,129 2.2 %
FDIC assessments and insurance2,896 3.9 %3,236 4.5 %2,772 3.8 %6,132 4.2 %5,780 4.1 %
Losses on loans held for sale carried at the lower cost or fair value (4)
— — %— — %1,258 1.7 %— — %1,258 0.9 %
Advertising expenses4,819 6.5 %3,635 5.1 %4,243 5.8 %8,454 5.8 %7,321 5.2 %
Loan-level derivative expense (5)
1,113 1.5 %360 0.5 %580 0.8 %1,473 1.0 %584 0.4 %
Other real estate owned and repossessed assets expense (income), net (6)
601 0.8 %164 0.2 %(148)(0.2)%765 0.5 %(502)(0.4)%
Other operating expenses (7)
5,415 7.3 %4,931 6.9 %5,205 7.1 %10,346 7.1 %10,656 7.7 %
Total noninterest expense (8)
$74,400 100.0 %$71,554 100.0 %$73,302 100.0 %$145,954 100.0 %$139,896 100.0 %

___
(1) In each of the three and six month periods ended June 30, 2025, includes $0.4 million in expenses in connection with the Amerant Mortgage downsizing.
(2) In each of the three and six month periods ended June 30, 2024, includes $0.3 million in legal expenses in connection with the Houston Transaction. Additionally, includes recurring service fees in connection with the engagement of FIS in all periods shown.
(3) In each of the three and six month periods ended June 30, 2024, includes fixed assets impairment charge of $3.4 million in connection with the Houston Transaction.
(4) In each of the three and six month periods ended, amounts shown are in connection with the Houston Transaction.
(5) Includes service fees in connection with our loan-level derivative income generation activities.
(6) In the three and six month periods ended June 30, 2025, includes $1.3 million and $1.8 million, respectively, of OREO valuation expense. In the three and six month periods ended June 30, 2025, includes net gains of approximately $0.5 million on sale of OREO properties.
(7) In each of the three and six month periods ended June 30, 2024, includes broker fees of $0.3 million in connection with the Houston Transaction. Additionally, in all of the periods shown, other operating expenses include community engagement, earnings credits, mortgage loan origination and servicing expenses, charitable contributions, community engagement, postage and courier expenses, and debits which mirror valuation income on the investment balances held in the non-qualified deferred compensation plan in order to adjust the liability to participants of the deferred compensation plan and other small operational expenses. Earnings credits are provided to certain commercial depositors in the mortgage banking industry to help offset deposit service charges incurred.
(8) Includes $3.0 million, $3.2 million, $3.8 million in the three months ended June 30, 2025, March 31, 2025 and June 30, 2024, respectively, and $6.2 million and $6.9 million in the six months ended June 30, 2025 and 2024, respectively, related to Amerant Mortgage, primarily consisting of salaries and employee benefits, mortgage lending costs and professional and other services fees.

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Exhibit 6 - Consolidated Balance Sheets

(in thousands, except share data)June 30, 2025March 31, 2025December 31, 2024September 30, 2024June 30, 2024
Assets(audited)
Cash and due from banks$48,400 $40,197 $39,197 $40,538 $32,762 
Interest earning deposits with banks573,373 587,728 519,853 614,345 238,346 
Restricted cash7,981 13,432 24,365 10,087 32,430 
Other short-term investments7,083 7,010 6,944 6,871 6,781 
Cash and cash equivalents636,837 648,367 590,359 671,841 310,319 
Securities
Debt securities available for sale, at fair value1,788,708 1,702,111 1,437,170 1,476,378 1,269,356 
Debt securities held to maturity, at amortized cost (1)— — — — 219,613 
Trading securities (2)
120,226 — — — — 
Equity securities with readily determinable fair value not held for trading 2,525 2,523 2,477 2,562 2,483 
Federal Reserve Bank and Federal Home Loan Bank stock59,429 57,044 58,278 63,604 56,412 
Securities1,970,888 1,761,678 1,497,925 1,542,544 1,547,864 
Loans held for sale, at the lower of cost or fair value (3)
— 40,597 — 553,941 551,828 
Mortgage loans held for sale, at fair value6,073 20,728 42,911 43,851 60,122 
Loans held for investment, gross7,183,123 7,157,837 7,228,411 6,964,171 6,710,961 
Less: Allowance for credit losses86,519 98,266 84,963 79,890 94,400 
Loans held for investment, net7,096,604 7,059,571 7,143,448 6,884,281 6,616,561 
Bank owned life insurance255,487 252,997 243,547 241,183 238,851 
Premises and equipment, net31,543 31,803 31,814 32,866 33,382 
Deferred tax assets, net50,966 53,448 53,543 41,138 48,779 
Operating lease right-of-use assets102,558 104,578 100,028 100,158 100,580 
Goodwill19,193 19,193 19,193 19,193 19,193 
Accrued interest receivable and other assets (4)(5)
164,529 176,728 178,966 222,131 220,259 
Total assets$10,334,678 $10,169,688 $9,901,734 $10,353,127 $9,747,738 
Liabilities and Stockholders' Equity
Deposits
Demand
Noninterest bearing$1,706,580 $1,665,468 $1,504,755 $1,482,061 $1,465,140 
Interest bearing2,281,611 2,260,157 2,229,467 2,389,605 2,316,976 
Savings and money market2,155,434 2,067,430 1,885,928 1,835,700 1,723,233 
Time2,162,919 2,161,923 2,234,445 2,403,578 2,310,662 
Total deposits8,306,544 8,154,978 7,854,595 8,110,944 7,816,011 
Advances from the Federal Home Loan Bank 765,000 715,000 745,000 915,000 765,000 
Senior notes (6)
— 59,922 59,843 59,764 59,685 
Subordinated notes29,710 29,667 29,624 29,582 29,539 
Junior subordinated debentures held by trust subsidiaries64,178 64,178 64,178 64,178 64,178 
Operating lease liabilities (7)
109,226 110,999 106,071 105,875 105,861 
Accounts payable, accrued liabilities and other liabilities (8)
135,734 128,681 151,956 164,896 173,122 
Total liabilities9,410,392 9,263,425 9,011,267 9,450,239 9,013,396 
Stockholders’ equity
Class A common stock4,173 4,195 4,214 4,210 3,357 
Additional paid in capital336,021 339,038 343,828 342,508 189,601 
Retained earnings609,540 590,304 582,231 569,131 620,299 
Accumulated other comprehensive loss(25,448)(27,274)(39,806)(12,961)(78,915)
Total stockholders' equity924,286 906,263 890,467 902,888 734,342 
Total liabilities and stockholders' equity$10,334,678 $10,169,688 $9,901,734 $10,353,127 $9,747,738 

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__________
(1) Estimated fair value of $192.4 million at June 30, 2024. During the third quarter of 2024, the Company executed an investment portfolio repositioning and transferred approximately $220 million in debt securities from held to maturity to the available for sale category.
(2) In the three months ended June 30, 2025, the Company began participating in trading of MBS as part of its investment portfolio strategy.
(3) As of March 31, 2025, loans held for sale consisted of one loan carried at cost for which no valuation allowance was deemed necessary. As of September 30, 2024 and June 30, 2024, includes loans held for sale and a valuation allowance of $1.3 million, in connection with the Houston Transaction.
(4) As of June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024 and June 30, 2024, includes derivative assets with a total fair value of $43.7 million, $42.8 million, $48.0 million, $52.3 million and $64.0 million, respectively.
(5) As of September 30, 2024 and June 30, 2024, includes other assets for sale of approximately $21.4 million and $23.6 million, respectively, in connection with the Houston Transaction.
(6) On March 03, 2025, the Company gave notice of its election to redeem all outstanding Senior Notes and they were redeemed on April 01, 2025. See Note 1 to the Company’s consolidated financial statements in our March 31, 2025 Form 10-Q for more information.
(7) Consists of total long-term lease liabilities. Total short-term lease liabilities are included in other liabilities.
(8) As of June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024 and June 30, 2024, includes derivatives liabilities with a total fair value of $44.6 million, $42.4 million, $47.6 million, $51.3 million and $62.9 million, respectively.


Exhibit 7 - Loans
Loans by Type - Held For Investment

The loan portfolio held for investment consists of the following loan classes:

(in thousands)June 30,
2025		March 31,
2025		December 31,
2024		September 30,
2024		June 30,
2024
Real estate loans(audited)
Commercial real estate
Non-owner occupied$1,773,377 $1,641,210 $1,678,473 $1,688,308 $1,714,088 
Multi-family residential368,718 400,371 336,229 351,815 359,257 
Land development and construction loans543,697 499,663 483,210 421,489 343,472 
2,685,792 2,541,244 2,497,912 2,461,612 2,416,817 
Single-family residential1,542,447 1,549,356 1,528,080 1,499,599 1,446,569 
Owner occupied983,090 951,311 1,007,074 1,001,762 981,405 
5,211,329 5,041,911 5,033,066 4,962,973 4,844,791 
Commercial loans1,566,420 1,714,583 1,751,902 1,630,318 1,521,533 
Loans to financial institutions and acceptances156,918 153,345 170,435 92,489 48,287 
Consumer loans and overdrafts
248,456 247,998 273,008 278,391 296,350 
Total loans$7,183,123 $7,157,837 $7,228,411 $6,964,171 $6,710,961 
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Loans by Type - Held For Sale

The loan portfolio held for sale consists of the following loan classes:

(in thousands)June 30, 2025March 31, 2025December 31, 2024September 30, 2024June 30, 2024
Loans held for sale at the lower of cost or fair value(audited)
Real estate loans
Commercial real estate
Non-owner occupied$— $— $— $111,591 $112,002 
Multi-family residential— — — — 918 
Land development and construction loans— — — 35,020 29,923 
— — — 146,611 142,843 
Single-family residential— — — 87,820 88,507 
Owner occupied— 40,597 — 221,774 220,718 
— 40,597 — 456,205 452,068 
Commercial loans— — — 87,866 90,353 
Consumer loans— — — 9,870 9,407 
Total loans held for sale at the lower of cost or fair value (1)— 40,597 — 553,941 551,828 
Mortgage loans held for sale at fair value
Land development and construction loans2,056 7,475 10,768 10,608 7,776 
Single-family residential4,017 13,253 32,143 33,243 52,346 
Total mortgage loans held for sale at fair value (2)6,073 20,728 42,911 43,851 60,122 
Total loans held for sale$6,073 $61,325 $42,911 $597,792 $611,950 
__________________
(1) As of September 30, 2024, and June 30, 2024 includes loans transferred from the held for investment to the held for sale category in the second and third quarters of 2024, as a result of the Houston Transaction. In the fourth quarter of 2024, the Company completed the sale of the Houston franchise.
(2) Loans held for sale in connection with Amerant Mortgage’s ongoing business.
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Non-Performing Assets

This table shows a summary of our non-performing assets by loan class, which includes non-performing loans, other real estate owned, or OREO, and other repossessed assets at the dates presented. Non-performing loans consist of (i) nonaccrual loans, and (ii) accruing loans 90 days or more contractually past due as to interest or principal.
(in thousands)June 30,
2025		March 31,
2025		December 31,
2024		September 30,
2024		June 30,
2024
Non-Accrual Loans(audited)
Real Estate Loans
Commercial real estate (CRE)
Non-owner occupied$1,022 $— $— $1,916 $— 
Multi-family residential— — — — 6 
1,022 — — 1,916 6 
Single-family residential7,421 15,048 8,140 13,452 3,726 
Land development and construction loans— — 4,119 — — 
Owner occupied21,027 22,249 23,191 29,240 26,309 
29,470 37,297 35,450 44,608 30,041 
Commercial loans 51,157 84,907 64,572 68,654 67,005 
Consumer loans and overdrafts666 — — — 4 
Total Non-Accrual Loans
$81,293 $122,204 $100,022 $113,262 $97,050 
Past Due Accruing Loans
Real Estate Loans
Owner occupied— — 837 — 769 
Single-family residential— 886 1,201 1,129 2,656 
Commercial1,192 122 2,033 104 — — 
Consumer loans and overdrafts— 7 8 434 477 
Total Past Due Accruing Loans (1)
$1,192 $1,015 $4,079 $1,667 $3,902 
Total Non-Performing Loans82,485 123,219 104,101 114,929 100,952 
Other Real Estate Owned15,389 17,541 18,074 14,509 20,181 
Total Non-Performing Assets$97,874 $140,760 $122,175 $129,438 $121,133 
    
__________________


(1)    Loans past due 90 days or more but still accruing.

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Loans by Credit Quality Indicators

This table shows the Company’s loans by credit quality indicators. The Company has not purchased credit-deteriorated loans.
June 30, 2025March 31, 2025June 30, 2024
(in thousands)Special MentionSubstandardDoubtfulTotal (1)Special MentionSubstandardDoubtfulTotal (1)Special MentionSubstandardDoubtfulTotal (1)
Loans held for investment
Real Estate Loans
Commercial Real
Estate (CRE)
Non-owner
occupied		$44,084 $55,382 $— $99,466 $40,391 $42,317 $— $82,708 $33,979 $— $— $33,979 
Multi-family residential— 8,284 — 8,284 8,282 — — 8,282 — 6 — 6 
Land development
and
construction
 loans		26,574 — — 26,574 — — — — — — — — 
70,658 63,666 — 134,324 48,673 42,317 — 90,990 33,979 6 — 33,985 
Single-family residential— 7,297 — 7,297 — 15,934 — 15,934 — 3,684 — 3,684 
Owner occupied21,076 61,590 — 82,666 2,447 22,249 — 24,696 35,642 26,381 — 62,023 
91,734 132,553 — 224,287 51,120 80,500 — 131,620 69,621 30,071 — 99,692 
Commercial loans41,025 82,213 — 123,238 48,600 85,029 — 133,629 25,671 67,836 — 93,507 
Consumer loans and
overdrafts		— 666 — 666 — 7 — 7 — — — — 
Total loans held for investment
$132,759 $215,432 $— $348,191 $99,720 $165,536 $— $265,256 $95,292 $97,907 $— $193,199 
Loans held for sale at the lower of cost or fair value
Owner occupied— — — — — 40,597 — 40,597 — — — — 
Total loans held for sale— — — — — 40,597 — 40,597 — — — — 
Total$132,759 $215,432 $— $348,191 $99,720 $206,133 $— $305,853 $95,292 $97,907 $— $193,199 



__________
(1) There were no loans categorized as “loss” as of the dates presented.




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Exhibit 8 - Deposits by Country of Domicile
This table shows the Company’s deposits by country of domicile of the depositor as of the dates presented.
(in thousands)June 30, 2025March 31, 2025December 31, 2024September 30, 2024June 30, 2024
(audited)
Domestic$5,707,272 $5,592,575 $5,278,289 $5,553,336 $5,281,946 
Foreign:
Venezuela1,897,631 1,862,614 1,889,331 1,887,282 1,918,134 
Others701,641 699,789 686,975 670,326 615,931 
Total foreign2,599,272 2,562,403 2,576,306 2,557,608 2,534,065 
Total deposits$8,306,544 $8,154,978 $7,854,595 $8,110,944 $7,816,011 

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Glossary of Terms and Definitions
•Total gross loans: include loans held for investment net of unamortized deferred loan origination fees and costs, as well as loans held for sale.
•Core deposits: consist of total deposits excluding all time deposits.
•Assets under management and custody: consists of assets held for clients in an agency or fiduciary capacity which are not assets of the Company and therefore are not included in the consolidated financial statements.
•Net interest margin, or NIM: defined as net interest income, or NII, divided by average interest-earning assets, which are loans, securities, deposits with banks and other financial assets which yield interest or similar income.
•ROA and Core ROA are calculated based upon the average daily balance of total assets.
•ROE and Core ROE are calculated based upon the average daily balance of stockholders’ equity.
•Total revenue is the result of net interest income before provision for credit losses plus noninterest income.
•Total capital ratio: total stockholders’ equity divided by total risk-weighted assets, calculated according to the standardized regulatory capital ratio calculations.
•Tier 1 capital ratio: Tier 1 capital divided by total risk-weighted assets. Tier 1 capital is composed of Common Equity Tier 1 (CET1) capital plus outstanding qualifying trust preferred securities of $62.3 million at each of all the dates presented.
•Tier 1 leverage ratio: Tier 1 capital divided by quarter to date average assets.
•Common equity tier 1 capital ratio, CET1: Tier 1 capital divided by total risk-weighted assets.
•Tangible common equity ratio: calculated as the ratio of common equity less goodwill and other intangibles divided by total assets less goodwill and other intangible assets. Other intangible assets primarily consist of naming rights and mortgage servicing rights and are included in other assets in the Company’s consolidated balance sheets.
•Tangible common equity ratio, adjusted for unrealized losses on debt securities held to maturity: calculated in the same manner described in tangible common equity but also includes unrealized losses on debt securities held to maturity in the balance of common equity and total assets.    
•Loans to Deposits ratio: calculated as the ratio of total loans gross divided by total deposits.
•Non-performing assets include all accruing loans past due by 90 days or more, all nonaccrual loans and other real estate owned (“OREO”) properties acquired through or in lieu of foreclosure, and other repossessed assets.
•Non-performing loans include all accruing loans past due by 90 days or more and all nonaccrual loans
•Ratio for net charge-offs/average total loans held for investments: calculated based upon the average daily balance of outstanding loan principal balance net of unamortized deferred loan origination fees and costs, excluding the allowance for credit losses.
•Other operating expenses: total noninterest expense less salary and employee benefits.
•Efficiency ratio: total noninterest expense divided by the sum of noninterest income and NII.
•Core ROA, core ROE and core efficiency ratio exclude the effect of non-routine items, described in Exhibit 2 - Non-GAAP Financial Measures Reconciliation.
•The terms of the FHLB advance agreements require the Bank to maintain certain investment securities or loans as collateral for these advances.
•Cost of total deposits: calculated based upon the average balance of total noninterest bearing and interest bearing deposits, which includes time deposits.

25
Second Quarter Earnings Presentation July 24, 2025

 
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. Examples of forward- looking statements include but are not limited to: our future operating or financial performance, including revenues, expenses, expense savings, income or loss and earnings or loss per share, and other financial items; statements regarding expectations, plans or objectives for future operations, products or services, and our expectations on our investment portfolio repositioning and loan recoveries or reaching positive resolutions on problem loans. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “point to,” “project,” “could,” “intend,” “target,” “goals,” “outlooks,” “modeled,” “dedicated,” “create,” and other similar words and expressions of the future. Forward-looking statements, including those relating to our beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions, involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the Company’s actual results, performance, achievements, or financial condition to be materially different from future results, performance, achievements, or financial condition expressed or implied by such forward-looking statements. You should not rely on any forward-looking statements as predictions of future events. You should not expect us to update any forward-looking statements, except as required by law. All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, together with those risks and uncertainties described in “Risk factors” in our annual report on Form 10-K for the fiscal year ended December 31, 2024 filed on March 5, 2025, and in our other filings with the U.S. Securities and Exchange Commission (the “SEC”), which are available at the SEC’s website www.sec.gov. Interim Financial Information Unaudited financial information as of and for interim periods, including the three and six month periods ended June 30, 2025 and 2024, and the three months ended March 31, 2025, December 31, 2024, and September 30, 2024 may not reflect our results of operations for our fiscal year ending, or financial condition as of December 31, 2025, or any other period of time or date. Non-GAAP Financial Measures The Company supplements its financial results that are determined in accordance with accounting principles generally accepted in the United States of America (“GAAP”) with non-GAAP financial measures, such as “pre- provision net revenue (PPNR)”, “core pre-provision net revenue (Core PPNR)”, “core noninterest income”, “core noninterest expense”, “core net income”, “core earnings per share (basic and diluted)”, “core return on assets (Core ROA)”, “core return on equity (Core ROE)”, “core efficiency ratio”, “tangible stockholders’ equity (book value) per common share”, “tangible common equity ratio, adjusted for net unrealized accumulated losses on debt securities held to maturity”, and “tangible stockholders' equity (book value) per common share, adjusted for net unrealized accumulated losses on debt securities held to maturity”. This supplemental information is not required by, or is not presented in accordance with GAAP. The Company refers to these financial measures and ratios as “non-GAAP financial measures”. We use certain non-GAAP financial measures, including those mentioned above, both to explain our results to shareholders and the investment community and in the internal evaluation and management of our business. Management believes that these supplementary non-GAAP financial measures and the information they provide are useful to investors since these measures permit investors to view our performance using the same tools that our management uses to evaluate our past performance and prospects for future performance. While we believe that these non-GAAP financial measures are useful in evaluating our performance, this information should be considered as supplemental and not as a substitute for or superior to the related financial information prepared in accordance with GAAP. Additionally, these non-GAAP financial measures may differ from similar measures presented by other companies. Appendix 1 reconciles these non-GAAP financial measures to reported results.

 
3 2Q25 vs. 1Q25 Highlights Balance Sheet • Total assets were $10.3 billion, up by $165.0 million, compared to $10.2 billion • Cash and cash and equivalents were $636.8 million, down by $11.5 million, compared to $648.4 million • Total investment securities were $2.0 billion, up by $209.2 million, compared to $1.8 billion • Total gross loans were $7.2 billion, down by $30.0 million, compared to the prior quarter • Total deposits were $8.3 billion, up by $151.6 million, compared to $8.2 billion • Core deposits were $6.1 billion, up by $150.6 million, compared to $6.0 billion • Brokered deposits were $644.0 million , down by $50.7 million, compared to $694.7 million • FHLB advances were $765.0 million, up by $50.0 million, compared to $715.0 million Also of note: • Assets Under Management and custody (“AUM”) totaled $3.07 billion, up by $132.4 million, 4.5% from $2.93 billion

 
4 2Q25 vs. 1Q25 Highlights Income Statement • Net income attributable to the Company was $23.0 million, up by $11.0 million, compared to $12.0 million • Diluted earnings per share was $0.55, compared to $0.28 • Net Interest Margin ("NIM") was 3.81%, compared to 3.75% • Net Interest Income (“NII”) was $90.5 million, up by $4.6 million, from $85.9 million • Non-interest Income was $19.8 million, up by $0.3 million, from $19.5 million • Provision for credit losses was $6.1 million, down by $12.4 million, compared to $18.4 million • Non-interest Expense was $74.4 million, up by $2.8 million, from $71.6 million • Core non-interest expense (1) was $73.2 million, up by $2.2 million, from $71.0 million • Pre-provision net revenue (“PPNR”) (1) was $35.9 million, up by $2.0 million, compared to $33.9 million • Core PPNR (1) was $37.1 million, up by $5.6 million , from $31.5 million (1) Non-GAAP Financial Measure. See Appendix 1 for a reconciliation to GAAP.

 
5 2Q25 vs. 1Q25 Highlights Capital • Total Capital Ratio was 13.49% compared to 13.45% • CET 1 was 11.25% compared to 11.11% • Tier 1 Capital Ratio was 11.97% compared to 11.84% • TCE Ratio(1) (2) was 8.73% compared to 8.69% • Tangible book value per common share was $21.56, compared to $21.03 • Paid quarterly cash dividend of $0.09 per common share on May 30, 2025 • Repurchased 275,666 shares for $5.0 million (weighted average price of $18.14 per share) (1) Non-GAAP Financial Measures. See Appendix 1 for a reconciliation to GAAP. (2) TCE Ratio: 2Q25 includes $25.4 million accumulated unrealized losses net of taxes primarily related to the decline in the fair value of debt securities available for sale, which are carried at fair value, as a result of increases in market rates.

 
6 2Q25 vs. 1Q25 Highlights Other Metrics • Efficiency ratio was 67.48%, compared to 67.87% • Return on Assets ("ROA") was 0.90%, compared to 0.48% • Return on Equity ("ROE") was 10.06%, compared to 5.32% (*) Non-GAAP Financial Measures. See Appendix 1 for a reconciliation to GAAP. Non-routine Items 2Q25 1Q25 Non-interest Expense $1.2 million $0.5 million Non-interest Income $(0.1) million $2.9 million Other Metrics (Excluding Non-routine Items) • Core Efficiency Ratio(*) was 66.35% compared to 69.24% • Core ROA(*) was 0.94% compared to 0.41% • Core ROE(*) was 10.49% compared to 4.52%

 
Asset Quality

 
8 Classified Loans $206.1 $60.4 $(18.6) $(20.9) $(10.3) $(1.2) $(0.1) $215.4 1Q25 Downgrades to Classified Charge-offs Payoffs/Paydowns Loans Sold Transfer to OREO Upgrades 2Q25 ($ in millions) • Classified loans of $215.4 million include 9 loans totaling $134.4 million that remain in accruing status • Downgrades to Classified of $60.4 million were primarily driven by the following: – 2 CRE loans totaling $20.6 million downgraded from special mention due to the loss of a tenant and delays in repositioning plan – 2 commercial loans totaling $16.8 million downgraded from special mention and 2 commercial loans totaling $18.3 million downgraded from pass. These downgrades were based on receipt of year-end 2024 and 1Q25 financials

 
9 Non-Performing Loans (NPLs) ($ in millions) • Significant improvement in NPL mainly driven by combination of payoffs, loans sold, pay downs and charge-offs – Charge-offs included 3 commercial loans totaling $15.8 million with $12.2 million on previously-reserved loans • Non-performing assets (NPAs) totaled $97.9 million: – $82.5 million in NPLs – $15.4 million in Other Real Estate Owned (2 out of 4 properties were sold during the quarter) $123.2 $9.8 $(18.6) $(20.4) $(10.3) $(1.2) $82.5 1Q25 Downgrades to NPLs Charge-offs Paydown/Payoffs Loans Sold Transfer to OREO 2Q25

 
10 7 loans totaling $92.9 million downgraded to special mention, primarily due to: – 3 CRE loans totaling $35.6 million that missed certain milestones, however, acceptable mitigants are in place, such as adequate loan to value, interest reserves, personal guaranties or other structural enhancements – 4 commercial loans totaling $57.3 million downgraded based on receipt of year-end 2024 and first quarter 2025 financials Special Mention Loans $99.7 $92.9 $(37.4) $(22.4) $132.8 1Q25 Downgrades to Special Mention Downgrades to Classified Payoffs/Paydowns 2Q25 ($ in millions)

 
11 $98.3 $(18.6) $3.3 $2.7 $2.2 $(1.4) $86.5 1Q25 Gross Charge-offs Recoveries Requirement for Charge-offs Credit Quality and and Macroeconomic Factor Updates Loan Growth 2Q25 ($ in millions) Allowance for Credit Losses (ACL) The net decrease in ACL was the result of charge-offs and loan portfolio decrease; offset by provisions to account for macro uncertainty and recoveries – Out of the $18.6MM in charge-offs, $12.2MM were previously recorded as specific reserves

 
12 3Q25 Outlook • Projected organic deposit growth by year end of approximately 14% - 15% annualized • Brokered deposits projected to decline by at least $100 million; to be replaced by FHLB advances or incremental organic deposit growth • Projected loan growth by year end of approximately 5% annualized • Projected increase in investment securities similar to 2Q • Net interest margin projected to be approximately 3.75% • Projected expenses projected to increase, in line with core non-interest expenses(1) in 2Q, resulting from recent key additions to the team and investment in continued expansion in Florida, partially offset by reductions in Amerant Mortgage (1) Non-GAAP Financial Measure. See Appendix 1 for a reconciliation to GAAP.

 
13 Other Updates before Q&A • Amerant Mortgage progress • Status on the opening of new banking centers • New people to the team in risk and business development • Loan strategy going forward • Continued emphasis on improving asset quality / reducing non-performing assets • Prudent capital management / buybacks

 
Supplemental Information

 
15 81.0% 19.0% $1,269.4 $1,702.1 $1,788.7 $219.6 4.31% 4.94% 4.88% AFS HTM Trading Marketable Equity Securities Yield 2Q24 1Q25 2Q25 0 500 1,000 1,500 2,000 77.6% 22.4% Balances and Yields (1) Fixed vs. Floating (2) June 2025 Floating rate Fixed rate Available for Sale Securities by Type June 30, 2025 4.4 yrs Effective Duration ($ in millions) (1) Excludes Federal Reserve Bank and FHLB stock (2) Hybrid investments are classified based on current rate (fixed or floating) (3) Based on estimated prepayment speeds 4.4 yrs Effective Duration $52.9 $43.8 $47.0 $49.9 3Q25 4Q25 1Q26 2Q26 $0.0 $25.0 $50.0 $75.0 ($ in millions) Expected Prepayments & Maturities Expected Prepayments & Maturities (3) Maturing Yield % Investment Portfolio 4.96% 5.31% 5.41% 5.48% March 2025 As of June 30, 2025, 99% of the Available for Sale portfolio consists of MBS issued or guaranteed by Government agencies and Government sponsored enterprises. $2.5 $2.5 $120.2 $2.5

 
16 35.0% 34.7% 34.7% 35.3% 37.3% 22.7% 23.9% 26.4% 25.9% 24.0% 16.4% 16.2% 13.9% 13.7% 13.7% 21.7% 21.4% 21.3% 21.6% 21.5% 4.2% 3.8% 3.8% 3.4% 3.5% 7.08% 7.08% 7.00% 6.84% 6.88% 2Q24 3Q24 4Q24 1Q25 2Q25 79.4% 80.3% 91.5% 91.5% 91.5% 11.6% 10.5% 3.0% 2.9% 3.0% 3.0% 3.0% 4.2% 4.7% 4.0% 3.8% 3.8% 1.6% 1.5% 1.6% 1.6% 1.7% 2Q24 3Q24 4Q24 1Q25 2Q25 Consumer CRE Commercial and FI & Acceptances Owner Occupied Single Family Residential Loan Composition (1) Geographic Mix (Domestic) Geographic ix (1) South Florida Texas New York Average Loan Yield Other (2) (1) Includes loans held for investment carried at amortized cost and loans held for sale carried at fair value. 3Q24 and 2Q24 also includes loans held for sale carried at the lower of cost or fair value in connection with the Houston Transaction. (2) Consists of international loans; residential loans with U.S. collateral Tampa Loan Portfolio Highlights

 
17 Loans Held for Investment Portfolio by Industry • Diversified portfolio - highest sector concentration, other than real estate, at 14% of total loans • 73% of total loans secured by real estate • Main concentrations: – CRE or Commercial Real Estate – Wholesale - Food & Auto and and computer parts wholesalers – Retail - Gas stations – Services – Healthcare and Restaurants Highlights (1) Consists primarily of finance facilities granted to non-bank financial companies. (2) Comprised mostly of construction and real estate related services and equipment rental and leasing activities. (3) Food wholesalers represented approximately 36%. (4) Gasoline stations represented approximately 37%. (5) Healthcare represented approximately 45%. (6) Restaurants and food services represented 70%. (7) Primarily loans belonging to industrial sectors not included in the above sectors, which do not individually represent more than 1 percent of the total loan portfolio, and consumer loans which represented approximately 23%. ($ in millions) Real Estate Non-Real Estate Total % Total Loans Financial Sector (1) $ 10 $ 428 $ 438 6.1 % Construction and Real Estate & Leasing: Commercial real estate loans 2,686 — 2,686 37.4 % Other real estate related services and equipment leasing (2) 180 116 296 4.1 % Total construction and real estate & leasing 2,866 116 2,982 41.5 % Manufacturing: Foodstuffs, Apparel 72 25 97 1.4 % Metals, Computer, Transportation and Other 27 44 71 1.0 % Chemicals, Oil, Plastics, Cement and Wood/Paper 22 8 30 0.4 % Total Manufacturing 121 77 198 2.8 % Wholesale (3) 87 196 283 3.9 % Retail Trade (4) 224 195 419 5.8 % Services: Non-Financial Public Sector — 15 15 0.2 % Communication, Transportation, Health and Other (5) 177 287 464 6.5 % Accommodation, Restaurants, Entertainment and other services (6) 179 247 426 5.9 % Electricity, Gas, Water, Supply and Sewage Services 6 72 78 1.1 % Total Services 362 621 983 13.7 % Primary Products: Agriculture, Livestock, Fishing and Forestry 3 2 5 0.1 % Mining — 8 8 0.1 % Total Primary Products 3 10 13 0.1 % Other Loans (7) 1,538 329 1,867 26.5 % Total Loans $ 5,211 $ 1,972 $ 7,183 100.0 % June 30, 2025

 
18 CRE Type FL TX NY Other Total % Total CRE % Total Loans (1) Income Producing (2) Land and Construction Retail $ 574 $ 18 $ 83 $ 25 $ 700 26.1 % 9.7 % $ 689 $ 11 Multifamily 345 $ 47 $ 80 $ (1) $ 471 17.5 % 6.6 % $ 372 $ 99 Office 311 $ 38 $ 40 $ 87 $ 476 17.8 % 6.6 % $ 475 $ 1 Hotels 282 $ 47 $ — $ — $ 329 12.2 % 4.6 % $ 317 $ 12 Industrial 68 $ 4 $ 16 $ — $ 88 3.2 % 1.2 % $ 88 $ — Specialty 168 $ — $ — $ 51 $ 219 8.2 % 3.1 % $ 201 $ 18 Land 339 $ 4 $ — $ 60 $ 403 15.0 % 5.6 % $ — $ 403 Total CRE $ 2,087 $ 158 $ 219 $ 222 $ 2,686 100.0 % 37.4 % $ 2,142 $ 544 Outstanding as of June 30, 2025 ($ in millions) (1) Calculated as a percentage of loans held for investment only. (2) Income producing properties include non-owner occupied and multi-family residential loans. CRE Loans Held For Investment - Detail

 
19 19% 36% 31% 14% —% 50% or less 50- 60% 60- 70% 70- 80% 80% or more 0% 10% 20% 30% 40% 50% 60% • Florida primarily include neighborhood shopping centers or service centers with basic needs related anchor stores, as well as the retail corridor in Miami Beach • New York primarily includes high traffic retail corridors with proximity to public transportation services • Single-tenant consist of four loans in South Florida (Food and Health, Clothing and Car Wash), one loan located in the Fulton Mall corridor in Brooklyn, NY, one located in Troy, MI (Gym) and one Central Florida (Furniture) CRE Retail (1) Retail - LTV (2) Food and Health Retail; 11% Clothing; 43%Car Wash; 25% Groceries; 10% Restaurant; 11% CRE Retail - Single Tenant (1) (1) CRE retail loans held for investment above $3.0 million (2) LTV at origination Total: $637 million Loan Portfolio Percentage: 8.9% Total: $44 million Loan Portfolio Percentage: 0.6% Neighborhood Center; 37.2% Strip/Convenience; 21.9% Community Center; 18.0% Theme/Festival Center; 5.6% Single Tenant; 6.8% Retail Storefront; 6.8% Regional Center; 2.0% Flex Property; 0.6% Fashion/Specialty Center; 0.6% Freestanding; 0.5% CRE Retail - Detail As of June 30, 2025 Weighted Average LTV: 59 %

 
20 New York; 9% Texas; 8% Florida; 64% Other ; 19.0% 15% 35% 41% 9% —% 50% or less 51-60% 61-70% 71-80% 81% or more 0% 10% 20% 30% 40% 50% 60% CRE office above $3 million represent 25 loans totaling $460 million, or 97% of total CRE office with avg. debt-service coverage (DSCR) (3) 1.6x and LTV 63% ◦ Florida: 18 loans totaling $268 million (52% Miami-Dade, 33% Broward, 6% Palm Beach and 9% Jacksonville) with avg. DSCR 1.7x and LTV 62% ◦ New York: 2 loans totaling $40 million (53% Westchester and 47% Kings) with avg. DSCR 1.8x and LTV 60% ◦ Texas: 2 loans totaling $38 million (100% Dallas) with avg. DSCR 1.8x and LTV 70% ◦ Other: 3 loans totaling $87 million (71% Memphis, TN and 29% Atlanta, GA) with avg. DSCR 1.2x and LTV 67% ◦ CRE Office (1) Office - LTV (2) (1) CRE office loans held for investment above $3 million (2) LTV at origination (3) DSCR based upon most recent borrower information Total: $460 million Loan Portfolio Percentage: 6.4% CRE Office - Detail As of June 30, 2025 Weighted Average LTV: 61%

 
21 1.38% 1.52% 1.43% 1.71% 1.15% 1.24% 1.25% 1.23% 1.38% 0.95% 2Q24 3Q24 4Q24 1Q25 2Q25 0.9x 0.7x 0.8x 0.8x 1.0x 2Q24 3Q24 4Q24 1Q25 2Q25 $94.4 $79.9 $85.0 $98.3 $86.5 1.41% 1.15% 1.18% 1.37% 1.20% 2Q24 3Q24 4Q24 1Q25 2Q25 1.13% 1.90% 0.26% 0.22% 0.86% 2Q24 3Q24 4Q24 1Q25 2Q25 Net Charge-Offs / Average Total Loans Held for Investment Allowance for Credit Losses ($ in millions) NPLs/ Total Loans and NPAs / Total Assets Allowance for Credit Losses / Total NPLs Allowance for Credit Losses ACL as a % of Total Loans Held for Investment NPLs / Total Loans NPAs / Total Assets Credit Quality

 
22 7,816 8,111 7,855 8,155 8,307 $4,040 $4,225 $4,115 $4,280 $4,429 $1,611 $1,702 $1,533 $1,527 $1,528 $700 $702 $702 $695 $644 $1,465 $1,482 $1,505 $1,653 $1,706 2.98% 2.99% 2.76% 2.60% 2.53% 2Q24 3Q24 4Q24 1Q25 2Q25 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 $2,423 $2,465 $2,576 $2,599 2022 2023 2024 2Q25 1,000 2,000 3,000 $4,621 $5,430 $5,278 $5,707 2022 2023 2024 2Q25 2,500 5,000 Domestic Deposits ($ in millions) Deposit Composition International Deposits ($ in millions) Mix by Country of Domicile Transaction Deposits Customer CDs Brokered Deposits (1) Cost of total Deposits ($ in millions) Noninterest Bearing Demand Deposits 31% of Total Deposits Approx. avg. acct balance: $45,000 (2) 69% of Total Deposits Approx. avg. acct balance: $110,000 (2) Well Diversified and Stable Deposit Mix (2) Average deposit account balances in Deposit Mix Slide calculated as of December 31, 2024 (1) Brokered Deposits : there were $9 million and $60 million in brokered transaction deposits in 2Q25 and 1Q25, respectively, while there were none in 4Q24, 3Q24 and 2Q24. In 2Q25, 1Q25, 4Q24, 3Q24 and 2Q24 brokered time deposits were $635 million, $635 million, $702 million, $702 million and $700 million, respectively.

 
23 New Branch Performance Actual Balances as of June 30, 2025 ($ in millions) Total deposit and loan balances reflect Retail and Business Banking, Private Banking and International Banking accounts booked.

 
24 $79.4 $81.0 $87.6 $85.9 $90.5 3.56% 3.49% 3.75% 3.75% 3.81% Net Interest Income NIM 2Q24 3Q24 4Q24 1Q25 2Q25 0 10 20 30 40 50 60 70 80 90 NII and NIM (%) 24 ($ in millions) 2Q24 3Q24 4Q24 1Q25 2Q25 Cost of Deposits (Domestic) 3.74 % 3.72 % 3.39 % 3.18 % 3.14 % Cost of Deposits (International) 1.42 % 1.41 % 1.38 % 1.31 % 1.26 % Cost of FHLB Advances 3.79 % 4.07 % 4.04 % 4.04 % 4.04 % Cost of Funds 3.11 % 3.15 % 2.94 % 2.78 % 2.69 % 0.27 0.46 0.51 Cumulative Beta 4Q24 1Q25 2Q25 0.00 0.60 Net Interest Income and NIM Interest-Bearing Deposits Beta Evolution (1) Cost of Funds (1) Beta calculation does not include brokered deposits (2) First interest rate cut in downward rate cycle took place in August 2024. Therefore, 3Q24 is the starting point for beta calculation. (2)

 
25 <1 year; 61% 1-3 years; 4% 4-5 years; 5% 5+ years; 30% 338 355 368 371 392 394 398 -200 bps -100 bps -50 bps BASE +50 bps +100 bps +200 bps 0 240 480 As of June 30, 2025 Fixed 41% Adjustable 59% 25 By Interest TypeBy Rate Type By Repricing Term (1) NII and percentage change represents the base scenario of net interest income. The base scenario assumes (i) flat interest rates over the next 12 months, (ii) that total financial instrument balances are kept constant over time and (iii) that interest rate shocks are instant and parallel to the yield curve (2) Totals may not sum due to rounding Loan Portfolio Details Impact on NII from Interest Rate Change (1)(2) AFSChange from base ($ in M ill io n s) Fixed 41% UST 2% Prime 13% SOFR 44% As of June 30, 2025 Impact on AFS from Interest Rate Change (1) (8.9)% (4.5)% 0% 6.2%5.5% (0.8)% 7.3% No Floor; 56% 0.5-2%; 2% 2-3.5%; 12% 3.5-5%; 7% 5-6.75%; 23% By Floors 1,898 1,856 1,824 1,787 1,746 1,700 1,601 -200 bps -100 bps -50 bps MV +50 bps +100 bps +200 bps ($ in M ill io n s) 6.2% 3.9% 2.1% 0% (2.3)% (4.8)% (10.4)% Expected AOCL Improvement Change from MVNet Interest Income (35,386) (21,361) 2Q25 2Q26 (estimated) (40,000) (20,000) — approx. 40% drop in AOCL Interest Rate Sensitivity

 
26 $19.4 $23.6 $19.5 $19.8 $(47.7) $5.3 $5.0 $5.4 $5.1 $5.0 $4.5 $4.5 $4.7 $4.7 $5.0 $-8.2 $7.2 $7.8 $19.6 $8.1 $6.7 $2.4 $3.5 $0.7 $1.5 $3.2 2Q24 3Q24 4Q24 1Q25 2Q25 -75 -50 -25 0 25 17% 83% 28% 72% Non-Interest Income Mix Deposits and service fees Brokerage, advisory and fiduciary activities Other noninterest income (1) DomesticInternational 2Q24 $3.1B ($ in millions) Securities gains (losses), net Loan-related derivative income Derivative losses, net Gain on early extinguishment of FHLB advances, net Non-Interest Income Mix $2.5B Assets Under Management and Custody 2Q25 $(0.2) (1) Other noninterest income in 4Q24 includes a $12.6 million one-time gain on the sale of the Houston Franchise $1.4 $0.2 $(0.1) $(68.5) $1.7 ($1.9)

 
27 73.3 76.2 83.4 71.6 74.4 $33.9 $35.0 $35.3 $33.3 $36.0 $39.4 $41.2 $48.1 $38.3 $38.4 720 735 698 726 692 2Q24 3Q24 4Q24 1Q25 2Q25 0 25 50 75 100 Non-Interest Expense Mix ($ in millions, except for FTEs) Non-routine Noninterest Expenses 5.6 5.7 15.1 0.5 1.2 $0.9 $2.5$1.3 $— $12.6 $3.4 Other nonroutine noninterest expenses Loans held for sale valuation expense Amerant Mortgage downsize costs Fixed assets impairment Loss on sale of repossessed assets and other real estate owned valuation expense 2Q24 3Q24 4Q24 1Q25 2Q25 0 5 10 15 ($ in millions) Non-Interest Expense Salaries and employee benefits Other operating expenses FTEs $0.8 $0.4

 
28 Change in Diluted Earnings Per Common Share $0.28 $0.04 $(0.08) 0.02 $0.29 $0.55 1Q25 PPNR Income Tax Expense Repurchase of Common Stock and Other Provision for Credit Losses 2Q25 $(0.20) $— $0.20 $0.40 $0.60 EPS Trend (1) Non-GAAP Financial Measure. See Appendix 1 for a reconciliation to GAAP. (1)

 
29 New Branch Opening Schedule 3Q 2025: – Miami Beach 4Q 2025: – Downtown Tampa – Bay Harbor Islands – Key Biscayne Space Expansion 2Q 2026: – Central Ave St. Petersburg

 
Appendices

 
31 Appendix 1 Non-GAAP Financial Measures Reconciliations The following table sets forth selected financial information derived from the Company’s interim unaudited and annual audited consolidated financial statements, adjusted for the effect of non-core banking activities such as the sale of loans and securities and other repossessed assets, the Houston Transaction, the valuation of securities, derivatives, loans held for sale and other real estate owned and repossessed assets, the early repayment of FHLB advances, impairment of investments, and other non-routine actions intended to improve customer service and operating performance. The Company believes these adjusted numbers are useful for understanding its performance excluding these transactions and events Three Months Ended, ($ in thousands) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Net income (loss) attributable to Amerant Bancorp Inc. $ 23,002 $ 11,958 $ 16,881 $ (48,164) $ 4,963 Plus: provision for credit losses (1) 6,060 18,446 9,910 19,000 19,150 Plus: provision for income tax expense (benefit) 6,795 3,471 1,142 (13,728) 1,360 Pre-provision net revenue (loss) (PPNR) 35,857 33,875 27,933 (42,892) 25,473 Plus: non-routine noninterest expense items 1,192 534 15,148 5,672 5,562 (Less) plus: non-routine noninterest income items 73 (2,863) (5,864) 68,484 (28) Core pre-provision net revenue (Core PPNR) $ 37,122 $ 31,546 $ 37,217 $ 31,264 $ 31,007 Total noninterest income (loss) $ 19,778 $ 19,525 $ 23,684 $ (47,683) $ 19,420 Less (plus): Non-routine noninterest income (loss) items: Derivatives (losses), net (2) (1,852) — — — (44) Securities gains (losses), net (3) 1,779 64 (8,200) (68,484) (117) Gain on sale of loans (4) — 2,799 — — — Gain on sale of Houston Franchise (5) — — 12,636 — — Gains on early extinguishment of FHLB advances, net — — 1,428 — 189 Total non-routine noninterest income (loss) items $ (73) $ 2,863 $ 5,864 $ (68,484) $ 28 Core noninterest income $ 19,851 $ 16,662 $ 17,820 $ 20,801 $ 19,392

 
32 Three Months Ended, ($ in thousands) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Total noninterest expense $ 74,400 $ 71,554 $ 83,386 $ 76,208 $ 73,302 Less: non-routine noninterest expense items Non-routine noninterest expense items: Losses on loans held for sale carried at the lower cost or fair value (5)(6) — — 12,642 — 1,258 Net losses on sale and valuation expense on other real estate owned (7) 822 534 — 5,672 — Amerant Mortgage downsize costs (8) 370 — — — — Goodwill and intangible assets impairment (5) — — — — 300 Fixed assets impairment (5)(9) — — — — 3,443 Legal, broker fees and other costs (5) — — 2,506 — 561 Total non-routine noninterest expense items $ 1,192 $ 534 $ 15,148 $ 5,672 $ 5,562 Core noninterest expense $ 73,208 $ 71,020 $ 68,238 $ 70,536 $ 67,740 Appendix 1 Non-GAAP Financial Measures Reconciliations (cont'd)

 
33 Three Months Ended, ($ in thousands, except percentages and per share data) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Net income (loss) attributable to Amerant Bancorp Inc. $ 23,002 $ 11,958 $ 16,881 $ (48,164) $ 4,963 Plus after-tax non-routine items in noninterest expense: Non-routine items in noninterest expense before income tax effect 1,192 534 15,148 5,672 5,562 Income tax effect (10) (272) (120) (3,409) (1,332) (1,196) Total after-tax non-routine items in noninterest expense 920 414 11,739 4,340 4,366 Plus (less) after-tax non-routine items in noninterest income: Non-routine items in noninterest income (loss) before income tax effect 73 (2,863) (5,864) 68,484 (28) Income tax effect (10) (11) 644 (1,596) (15,411) 6 Total after-tax non-routine items in noninterest income (loss) 62 (2,219) (7,460) 53,073 (22) Core net income $ 23,984 $ 10,153 $ 21,160 $ 9,249 $ 9,307 Basic earnings (loss) per share $ 0.55 $ 0.28 $ 0.40 $ (1.43) $ 0.15 Plus: after tax impact of non-routine items in noninterest expense 0.02 0.01 0.28 0.13 0.13 (Less) plus: after tax impact of non-routine items in noninterest income (loss) — (0.05) (0.18) 1.57 — Total core basic earnings per common share $ 0.57 $ 0.24 $ 0.50 $ 0.27 $ 0.28 Diluted earnings (loss) per share (11) $ 0.55 $ 0.28 $ 0.40 $ (1.43) $ 0.15 Plus: after tax impact of non-routine items in noninterest expense 0.02 0.01 0.28 0.13 0.13 (Less) plus: after tax impact of non-routine items in noninterest income (loss) — (0.05) (0.18) 1.57 — Total core diluted earnings per common share $ 0.57 $ 0.24 $ 0.50 $ 0.27 $ 0.28 Net income (loss) / Average total assets (ROA) 0.90 % 0.48 % 0.67 % (1.92) % 0.21 % Plus: after tax impact of non-routine items in noninterest expense 0.04 % 0.02 % 0.46 % 0.18 % 0.17 % (Less) plus: after tax impact of non-routine items in noninterest income (loss) — % (0.09) % (0.30) % 2.11 % — % Core net income / Average total assets (Core ROA) 0.94 % 0.41 % 0.83 % 0.37 % 0.38 % Appendix 1 Non-GAAP Financial Measures Reconciliations (cont'd)

 
34 Three Months Ended, ($ in thousands, except percentages and per share data) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Net income (loss)/ Average stockholders' equity (ROE) 10.06 % 5.32 % 7.38 % (24.98) % 2.68 % Plus: after tax impact of non-routine items in noninterest expense 0.40 % 0.19 % 5.13 % 2.25 % 2.36 % Plus (less) : after tax impact of non-routine items in noninterest income (loss) 0.03 % (0.99) % (3.26) % 27.53 % (0.01) % Core net income / Average stockholders' equity (Core ROE) 10.49 % 4.52 % 9.25 % 4.80 % 5.03 % Efficiency ratio 67.48 % 67.87 % 74.91 % 228.74 % 74.21 % (Less) plus: impact of non-routine items in noninterest expense and noninterest income (loss) (1.13) % 1.37 % (10.20) % (159.45) % (5.61) % Core efficiency ratio 66.35 % 69.24 % 64.71 % 69.29 % 68.60 % Stockholders' equity $ 924,286 $ 906,263 $ 890,467 $ 902,888 $ 734,342 Less: goodwill and other intangibles (12) (24,016) (24,135) (24,314) (24,366) (24,581) Tangible common stockholders' equity $ 900,270 $ 882,128 $ 866,153 $ 878,522 $ 709,761 Total assets 10,334,678 10,169,688 9,901,734 10,353,127 9,747,738 Less: goodwill and other intangibles (12) (24,016) (24,135) (24,314) (24,366) (24,581) Tangible assets $ 10,310,662 $ 10,145,553 $ 9,877,420 $ 10,328,761 $ 9,723,157 Common shares outstanding 41,748,434 41,952,590 42,127,316 42,103,623 33,562,756 Tangible common equity ratio 8.73 % 8.69 % 8.77 % 8.51 % 7.30 % Stockholders' book value per common share $ 22.14 $ 21.60 $ 21.14 $ 21.44 $ 21.88 Tangible stockholders' equity book value per common share $ 21.56 $ 21.03 $ 20.56 $ 20.87 $ 21.15 Appendix 1 Non-GAAP Financial Measures Reconciliations (cont'd)

 
35 Three Months Ended, ($ in thousands, except percentages and per share data) June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Tangible common stockholders' equity $ 900,270 $ 882,128 $ 866,153 $ 878,522 $ 709,761 Less: Net unrealized accumulated losses on debt securities held to maturity, net of tax (13) — — — — (20,304) Tangible common stockholders' equity, adjusted for net unrealized accumulated losses on debt securities held to maturity $ 900,270 $ 882,128 $ 866,153 $ 878,522 $ 689,457 Tangible assets $ 10,310,662 $ 10,145,553 $ 9,877,420 $ 10,328,761 $ 9,723,157 Less: Net unrealized accumulated losses on debt securities held to maturity, net of tax (13) — — — — (20,304) Tangible assets, adjusted for net unrealized accumulated losses on debt securities held to maturity $ 10,310,662 $ 10,145,553 $ 9,877,420 $ 10,328,761 $ 9,702,853 Common shares outstanding 41,748,434 41,952,590 42,127,316 42,103,623 33,562,756 Tangible common equity ratio, adjusted for net unrealized accumulated losses on debt securities held to maturity 8.73 % 8.69 % 8.77 % 8.51 % 7.11 % Tangible stockholders' book value per common share, adjusted for net unrealized accumulated losses on debt securities held to maturity $ 21.56 $ 21.03 $ 20.56 $ 20.87 $ 20.54 Appendix 1 Non-GAAP Financial Measures Reconciliations (cont'd)

 
36 Appendix 1 Non-GAAP Financial Measures Reconciliations (cont'd) (1) Includes provision for credit losses on loans and provision for loan contingencies. See Footnote 7 in Exhibit 1 - Selected Financial Information of Earnings Press Release for more details. (2) In the three and six months ended June 30, 2025, includes net unrealized losses in connection with to-be-announced (TBA) mortgage back-securities (MBS) derivative contracts. We enter into these contracts to economically offset changes in market valuation on the trading securities portfolio. In all other prior periods, amounts are related to uncovered interest rate caps with clients. (3) In the third quarter of 2024, the Company executed an investment portfolio repositioning which resulted in a total pre-tax net loss of $68.5 million during the same period. The investment portfolio repositioning was completed in early October 2024 resulting in an additional $8.1 million in losses in the fourth quarter of 2024. (4) In the three months ended March 31, 2025, includes gain on sale of $3.2 million, related to the sale of a loan that had been charged off in prior periods. (5) In the three months ended December 31, 2024 and June 30, 2024, amounts shown are in connection with the sale of the Company’s Houston franchise which were disclosed on a Form 8-K on April 17, 2024 (the “Houston Transaction”). (6) In the three months ended December 31, 2024, includes loss on sale of $12.6 million, including transaction costs, related to the sale of a portfolio of 323 business- purpose, investment property, residential mortgage loans with a balance of approximately $71.4 million. (7) In the three months ended June 30, 2025, includes a net loss on the sale of two OREO properties of $0.8 million. The three months ended March 31, 2025 and September 30, 2024 include an OREO valuation expense of $0.5 million and $5.7 million, respectively. (8) In the three months ended June 30, 2025, includes salaries and employee benefit expenses in connection with Amerant Mortgage downsizing costs. See First Quarter Earnings Presentation filed on April 24, 2025 for more information. (9) Related to Houston branches and included as part of occupancy and equipment expenses. (10) In the three months ended March 30, 2025, amounts were calculated based upon the effective tax rate for the period of 22.50%. For all of the other periods shown, amounts represent the difference between the prior and current period year-to-date tax effect. (11) See 2024 Form 10-K for more information on potential dilutive instruments and its impact on diluted earnings per share computation. (12) At June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024 and June 30, 2024, other intangible assets primarily consist of naming rights of $1.7 million, $1.9 million, $2.0 million, $2.1 million and $2.3 million, respectively, and mortgage servicing rights (“MSRs”) of $1.5 million, $1.4 million, $1.5 million, $1.4 million and $1.5 million, respectively. Other intangible assets are included in other assets in the Company’s consolidated balance sheets. (13) There were no debt securities held to maturity at June 30, 2025, March 31, 2025, December 31, 2024 and September 30, 2024. As of June 30, 2024, amounts were calculated based upon the fair value on debt securities held to maturity, and assuming a tax rate of 25.38%.

 
37 Income Statement Highlights - 2Q25 vs 1Q25 ($ in thousands) 2Q25 1Q25 Change Total Interest Income Loans $ 122,166 $ 121,021 $ 1,145 Investment securities 23,212 18,919 4,293 Interest earning deposits with banks and other interest income 5,717 6,468 (751) Total Interest Expense — Interest bearing demand deposits 11,567 10,454 1,113 Savings and money market deposits 18,030 16,675 1,355 Time deposits 22,285 23,858 (1,573) Advances from FHLB 7,230 7,200 30 Senior notes 78 942 (864) Subordinated notes 361 361 — Junior subordinated debentures 1,064 1,014 50 Securities sold under agreements to repurchase 1 — 1 Total Provision for Credit Losses 6,060 18,446 (12,386) Total Noninterest Income 19,778 19,525 253 Total Noninterest Expense 74,400 71,554 2,846 Income Tax Expense 6,795 3,471 3,324 Net Income Attributable to Amerant Bancorp Inc. $ 23,002 $ 11,958 $ 11,044

 
38 • ACL - Allowance for Credit Losses • AFS - Available for Sale • AOCL - Accumulated Other Comprehensive Loss • CET 1 - Common Equity Tier 1 capital ratio • CRE - Commercial Real Estate • Customer CDs - Customer certificate of deposits • EPS – Earnings per Share • FHLB - Federal Home Loan Bank • FTE - Full Time Equivalent • HTM - Held to Maturity • MV - Market Value • NPL - Non-Performing Loans • NPA - Non-Performing Assets • NIB - Noninterest Bearing • NII - Net Interest Income • NIM – Net Interest Margin • ROA - Return on Assets • ROE - Return on Equity • SOFR - Secured Overnight Financing Rate • TCE ratio – Tangible Common Equity ratio Glossary

 
39Glossary (cont'd) • Core deposits: consist of total deposits excluding all time deposits • Total gross loans: includes loans held for investment carried at amortized cost, loans held for sale carried at fair value, and loans held for sale carried at the lower of estimated fair value or cost • Cost of Total Deposits: annualized and calculated based upon the average daily balance of total deposits. • ROA: calculated based upon the average daily balance of total assets • ROE: calculated based upon the average daily balance of stockholders' equity • Loans Held for Investment: excludes loans held for sale carried at fair value and loans held for sale carried at the lower of cost or fair value • Non-performing loans include accruing loans past due by 90 days or more and all nonaccrual loans. Non-performing assets include accruing loans past due by 90 days or more, all nonaccrual loans, other real estate owned ("OREO") properties acquired through or in lieu of foreclosure and other repossessed assets. • Net Charge Offs/Average Total Loans Held for Investment: – Annualized and calculated based upon the average daily balance of outstanding loan principal balance net of unamortized deferred loan fees and costs, excluding the allowance for credit losses – Total loans exclude loans held for sale • Cost of Deposits: calculated based upon the average balance of total noninterest bearing and interest bearing deposits, which includes time deposits. • Cost of Funds: calculated based upon the average balance of total financial liabilities which include total interest bearing liabilities and noninterest bearing demand deposits • Quarterly beta (as shown in NII & NIM Slide): calculated based upon the change of the cost of deposit over the change of Federal funds rate (if any) during the quarter. • Totals may not sum due to rounding of line items.

 
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CONTACTS:
Investors
Laura Rossi
(305) 460-8728
Media
Alexis Dominguez
(305) 441-8412

AMERANT BANCORP INC. DECLARES DIVIDEND

CORAL GABLES, FLORIDA, July 23, 2025. Amerant Bancorp Inc. (NYSE: AMTB) (the “Company” or “Amerant”) today announced that, on July 23, 2025, the Company’s Board of Directors declared a cash dividend of $0.09 per-share of Amerant common stock. The dividend is payable on August 29, 2025, to shareholders of record at the close of business on August 15, 2025.

About Amerant Bancorp Inc. (NYSE: AMTB)
Amerant Bancorp Inc. is a bank holding company headquartered in Coral Gables, Florida since 1979. The Company operates through its main subsidiary, Amerant Bank, N.A. (the “Bank”), as well as its other subsidiaries: Amerant Investments, Inc., and Amerant Mortgage, LLC. The Company provides individuals and businesses with deposit, credit and wealth management services. The Bank, which has operated for over 40 years, is headquartered in Florida and operates 20 banking centers – 19 in South Florida and 1 in Tampa, Florida. For more information, visit investor.amerantbank.com.
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