Amerant Bancorp Inc 8-K, filed Oct 22, 2026
Amerant Bancorp Inc. (AMTB)
8-K
2026-10-22
For: 2026-10-21
View Original
Added on
October 28, 2026
About this 8-K
Amerant Bancorp Inc filed this 8-K on October 22, 2026, reporting on events of October 21, 2026.
Amerant Bancorp Inc. reported third-quarter net income of $25.7 million, or $0.65 diluted earnings per share, versus $21.0 million and $0.53 in the second quarter. It declared a $0.09 dividend and expanded repurchases to $50 million through December 31, 2027. AI summary
Items reported
- Item 2.02: Financial results
- Item 7.01: Regulation FD disclosure
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
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): October 21, 2026
(Exact name of registrant as specified in its charter)
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| (Address of principal executive offices) | (Zip Code) | |||||||
( (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:
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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 October 22, 2026, Amerant Bancorp Inc. (the "Company") issued a press release to report the Company’s financial results for the fiscal quarter ended September 30, 2026. The press 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 (the "Exchange Act", 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 (the "Securities Act"), or the Exchange Act , except as shall be expressly set forth by specific reference in such filing.
Item 7.01 Regulation FD Disclosure
On October 23, 2026, the Company will hold a live audio webcast to discuss its financial results for the fiscal quarter ended September 30, 2026. 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 Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 8.01 Other Events
On October 22, 2026, the Company also issued a press release announcing that the Company's Board of Directors (the “Board”) declared a cash dividend of $0.09 per share of its Class A common stock. The dividend is payable on November 27, 2026, to shareholders of record at the close of business on November 13, 2026.
A copy of the press release is attached as Exhibit 99.3 to this Current Report on Form 8-K.
In addition, on October 21, 2026, the Board of Directors of the Company approved an extension of the Company’s current share repurchase program (the “Repurchase Program”) from December 31, 2026 to December 31, 2027. The Board of Directors also increased the amount available for repurchases of the Company’s Class A common stock under the Repurchase Program to $50 million. Prior to the increase, there was approximately $3 million available for repurchases under the Repurchase Program.
Under the Repurchase Program, the Company may repurchase shares of the Class A common stock through open market purchases, by block purchase, in privately-negotiated transactions, or otherwise in compliance with Rule 10b-18 under the Exchange Act. The extent to which the Company repurchases its shares of Class A common stock and the timing of such purchases will depend upon market conditions, regulatory requirements, other corporate liquidity requirements and priorities and other factors as may be considered in the Company’s sole discretion. Repurchases may also be made pursuant to a trading plan under Rule 10b5-1 under the Exchange Act, which would permit shares to be repurchased when the Company might otherwise be precluded from doing so because of self-imposed trading blackout periods or other regulatory restrictions. The Repurchase Program does not obligate the Company to repurchase any particular amount of Class A common stock and may be suspended or discontinued at any time without notice.
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: October 22, 2026 | Amerant Bancorp Inc. | |||||||||||||
| By: | /s/ Julio V. Pena | |||||||||||||
| Name: Julio V. Pena | ||||||||||||||
| Title: Executive Vice President, Associate General Counsel and Corporate Secretary | ||||||||||||||
CONTACTS: | ||||||||
Investors | ||||||||
| Laura Rossi | ||||||||
InvestorRelations@amerantbank.com | ||||||||
(305) 460-8728 | ||||||||
| Media | ||||||||
| Alexis Dominguez | ||||||||
MediaRelations@amerantbank.com | ||||||||
(305) 441-8412 | ||||||||
AMERANT REPORTS THIRD QUARTER 2026 RESULTS
CORAL GABLES, FLORIDA, October 22, 2026. Amerant Bancorp Inc. (NYSE: AMTB) (the “Company” or “Amerant”) today reported net income attributable to the Company of $25.7 million in the third quarter of 2026, or $0.65 earnings per diluted share, compared to net income of $21.0 million, or $0.53 earnings per diluted share, in the second quarter of 2026.
"Our third quarter results reflect meaningful progress in building a more profitable and resilient franchise," said Carlos Iafigliola, President and Chief Executive Officer. "Stronger net interest income and disciplined expense management drove improved profitability, net interest margin expansion, and higher net income. We also achieved solid loan growth, continued to reduce non-performing assets and classified loans, and achieved a noninterest bearing deposit mix that better reflects the underlying strength of our deposit base. With a stronger foundation now in place, our focus is increasingly shifting toward enhancing franchise value and delivering sustainable returns for our shareholders."
Below are the results for 3Q26 and their comparison to 2Q26:
•Total assets were $10.2 billion, down by $82.6 million, or 0.8%, compared to $10.3 billion.
•Total gross loans, which include all loans held for sale, were $7.1 billion, up by $207.8 million, or 3.0%, compared to $6.9 billion.
•Cash and cash equivalents and restricted cash were $361.5 million, up by $60.3 million, or 20.0%, compared to $301.1 million.
•Total investments were $2.2 billion, down by $382.8 million, or 14.7%, compared to $2.6 billion.
•Total deposits were $8.2 billion, down by $109.6 million, or 1.3%, compared to $8.4 billion.
•Core deposits were $6.3 billion, down by $125.8 million, or 2.0%, compared to $6.4 billion.
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•Total advances from the Federal Home Loan Bank (“FHLB”) were $715.0 million, up by $12.4 million, or 1.8%, compared to $702.6 million.
•Net Interest Margin (“NIM”) was 3.77%, compared to 3.52%. The increase in NIM reflects $1.6 million in additional interest recorded during the quarter from repayments of loans previously in nonaccrual status.
•Average yield on loans was 6.35%, compared to 6.22%.
•Average cost of total deposits was 2.07%, compared to 2.21%.
•Loan to deposit ratio was 85.78%, compared to 82.17%.
•Asset Quality and Allowance for Credit Losses (“ACL”):
–Total non-performing assets were $159.5 million, down by $27.1 million, or 14.5%, compared to $186.6 million. As of 3Q26, non-performing assets consist of $149.5 million in non-performing loans and $10.0 million in Other Real Estate Owned (“OREO”).
–The ACL was $94.8 million compared to $85.5 million.
–Classified loans were $213.0 million, down by $60.1 million, or 22.0%, compared to $273.1 million, while non-performing loans were $149.5 million, down $21.6 million, or 12.6%, compared to $171.1 million. The reduction in classified and non-performing loans was primarily attributable to payoffs during the quarter. Special mention loans were $120.7 million, up $10.9 million, or 10.0%, compared to $109.8 million. The increase was primarily driven by downgrades during the quarter.
–The Company has provided additional details regarding asset quality in the 3Q26 earnings presentation (https://investor.amerantbank.com).
•Assets Under Management and custody (“AUM”) totaled $3.45 billion, up by $77.9 million, or 2.3% from $3.37 billion.
•Pre-tax pre-provision net revenue (“PPNR”)(1) was $39.7 million, up by $7.8 million, or 24.6%, compared to PPNR of $31.9 million.
•Net Interest Income (“NII”) was $90.5 million, up by $7.9 million, or 9.6%, from $82.6 million.
•Provision for credit losses was $6.2 million, up by $1.5 million, or 30.5%, compared to $4.8 million.
•Noninterest income was $18.3 million, up by $0.2 million, or 1.0%, from $18.2 million.
•Noninterest expense was $69.1 million, up by $0.2 million, or 0.3%, from $68.9 million. Noninterest expense this quarter includes $1.3 million in OREO income, compared to $0.3 million in the previous quarter.
•The efficiency ratio was 63.51%, compared to 68.37%.
2
•Return on average assets (“ROA”) was 1.00%, compared to 0.84%.
•Return on average equity (“ROE”) was 11.29%, compared to 9.23%.
•The Company repurchased an aggregate of 70,592 shares of Class A common stock at a weighted average price of $28.47 per share, or 1.36x of Tangible Book Value ("TBV")(1) and 1.32x of book value per share. The aggregate purchase price for these transactions was approximately $2.0 million.
•On September 17, 2026, the Company completed a registered offering of $50.0 million aggregate principal amount of 7.00% Senior Notes due 2031. The unsecured, unsubordinated Notes bear interest at 7.00% per annum, payable semi-annually beginning March 17, 2027, rank pari passu with the Company's other unsecured and unsubordinated indebtedness, and rank senior to subordinated indebtedness.
•On October 21, 2026, the Company’s Board of Directors declared a cash dividend of $0.09 per share of common stock. The dividend is payable on November 27, 2026 to shareholders of record on November 13, 2026.
Additional details on the third quarter 2026 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.
Third Quarter 2026 Earnings Conference Call
The Company will hold an earnings conference call on Friday, October 23, 2026 at 9:00 a.m. (Eastern Time) to discuss its third quarter 2026 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 subsidiary Amerant Investments, Inc. The Company provides individuals and businesses with deposit, credit and wealth management services. The Bank, which has operated for over 45 years, is headquartered in Florida and has a network of 23 banking centers – 21 in South Florida and 2 in Tampa, Florida. For more information, visit investor.amerantbank.com.
3
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 loan recoveries, or reaching positive resolutions on problem loans, or significantly reducing special mention and/or non-performing 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,” “outlook,” “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, 2025 filed on February 27, 2026 (the “2025 Form 10-K”), in our quarterly report on Form 10-Q for the quarter ended March 31, 2026, filed on May 1, 2026, 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 nine month periods ended September 30, 2026 and 2025, and the three month periods ended June 30, 2026, March 31, 2026, and December 31, 2025, may not reflect our results of operations for our fiscal year ending, or financial condition, as of December 31, 2026, 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-tax pre-provision net revenue (PPNR)”, "tangible common equity ratio", and “tangible stockholders’ equity (book value) per common share”. 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.
Beginning in the first quarter of 2026, the Company reviewed and updated its use of non‑GAAP financial measures and now presents a limited set of metrics that management uses to evaluate performance and make operating decisions. As part of this update, the Company discontinued the presentation of “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)”, and “core efficiency ratio” as management determined these measures are no longer primary metrics used internally. This change does not reflect any change in the Company’s underlying business, operations, or GAAP financial 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) | September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||||||||||||||
| Consolidated Balance Sheets | (audited) | ||||||||||||||||||||||||||||
| Total assets | $ | 10,211,645 | $ | 10,294,247 | $ | 9,903,514 | $ | 9,777,018 | $ | 10,410,199 | |||||||||||||||||||
| Total investments | 2,225,628 | 2,608,418 | 2,430,884 | 2,084,569 | 2,307,701 | ||||||||||||||||||||||||
Total gross loans (1) | 7,073,445 | 6,865,627 | 6,753,781 | 6,697,235 | 6,941,792 | ||||||||||||||||||||||||
| Allowance for credit losses | 94,845 | 85,499 | 79,236 | 79,276 | 94,918 | ||||||||||||||||||||||||
| Total deposits | 8,245,672 | 8,355,308 | 7,939,101 | 7,786,934 | 8,300,969 | ||||||||||||||||||||||||
Core deposits (1) | 6,318,465 | 6,444,271 | 5,891,689 | 5,790,895 | 6,203,038 | ||||||||||||||||||||||||
| Advances from the Federal Home Loan Bank | 715,000 | 702,608 | 732,263 | 711,984 | 831,699 | ||||||||||||||||||||||||
| Senior notes | 48,366 | — | — | — | — | ||||||||||||||||||||||||
| Subordinated notes | 29,922 | 29,880 | 29,837 | 29,795 | 29,752 | ||||||||||||||||||||||||
| Junior subordinated debentures | 64,178 | 64,178 | 64,178 | 64,178 | 64,178 | ||||||||||||||||||||||||
Stockholders' equity | 840,817 | 914,369 | 913,918 | 938,802 | 944,940 | ||||||||||||||||||||||||
Assets under management and custody (1) | 3,449,056 | 3,371,114 | 3,423,919 | 3,256,754 | 3,169,514 | ||||||||||||||||||||||||
| Three Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
(in thousands, except percentages, share data and per share amounts) | September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | |||||||||||||||||||||||||||||||||||||||
Consolidated Results of Operations | ||||||||||||||||||||||||||||||||||||||||||||
| Net interest income | $ | 90,464 | $ | 82,575 | $ | 80,281 | $ | 90,150 | $ | 94,152 | ||||||||||||||||||||||||||||||||||
Provision for credit losses (2) | 6,200 | 4,750 | 7,800 | 3,490 | 14,600 | |||||||||||||||||||||||||||||||||||||||
| Noninterest income | 18,339 | 18,162 | 17,381 | 22,019 | 17,291 | |||||||||||||||||||||||||||||||||||||||
| Noninterest expense | 69,098 | 68,877 | 66,919 | 106,772 | 77,835 | |||||||||||||||||||||||||||||||||||||||
| Net income attributable to Amerant Bancorp Inc. | 25,716 | 21,043 | 17,873 | 2,701 | 14,756 | |||||||||||||||||||||||||||||||||||||||
Pre-tax pre-provision net revenue (PPNR) (3) | 39,705 | 31,860 | 30,743 | 5,397 | 33,608 | |||||||||||||||||||||||||||||||||||||||
| Effective income tax rate | 23.25% | 22.38% | 22.10% | (41.64)% | 22.37% | |||||||||||||||||||||||||||||||||||||||
Common Share Data | ||||||||||||||||||||||||||||||||||||||||||||
| Stockholders' book value per common share | $ | 21.49 | $ | 23.33 | $ | 22.96 | $ | 23.13 | $ | 22.90 | ||||||||||||||||||||||||||||||||||
Tangible stockholders' equity (book value) per common share (3)(4) | $ | 20.94 | $ | 22.78 | $ | 22.38 | $ | 22.56 | $ | 22.32 | ||||||||||||||||||||||||||||||||||
| Basic earnings per common share | $ | 0.66 | $ | 0.54 | $ | 0.44 | $ | 0.07 | $ | 0.35 | ||||||||||||||||||||||||||||||||||
Diluted earnings per common share (4) | $ | 0.65 | $ | 0.53 | $ | 0.44 | $ | 0.07 | $ | 0.35 | ||||||||||||||||||||||||||||||||||
| Basic weighted average shares outstanding | 39,164,732 | 39,316,906 | 40,315,757 | 40,915,733 | 41,590,201 | |||||||||||||||||||||||||||||||||||||||
Diluted weighted average shares outstanding (4) | 39,444,784 | 39,509,583 | 40,510,993 | 41,102,760 | 41,774,101 | |||||||||||||||||||||||||||||||||||||||
Cash dividend declared per common share (5) | $ | 0.09 | $ | 0.09 | $ | 0.09 | $ | 0.09 | $ | 0.09 | ||||||||||||||||||||||||||||||||||
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| Three Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other Financial and Operating Data (6) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Profitability Indicators (%) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Net interest income / Average total interest earning assets (NIM) (1) | 3.77% | 3.52 | % | 3.55 | % | 3.78% | 3.92 | % | |||||||||||||||||||||||||||||||||||||||||||||
Net income / Average total assets (ROA)(1) | 1.00% | 0.84 | % | 0.73 | % | 0.10 | % | 0.57 | % | ||||||||||||||||||||||||||||||||||||||||||||
Net income / Average stockholders' equity (ROE) (1) | 11.29% | 9.23 | % | 7.63 | % | 1.12 | % | 6.21 | % | ||||||||||||||||||||||||||||||||||||||||||||
Noninterest income / Total revenue (1) | 16.86% | 18.03% | 17.80% | 19.63% | 15.52% | ||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Indicators (%) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total capital ratio (1) | 14.48% | 14.34 | % | 14.16 | % | 14.10% | 13.89 | % | |||||||||||||||||||||||||||||||||||||||||||||
Tier 1 capital ratio (1) | 12.85% | 12.72 | % | 12.62 | % | 12.58% | 12.28 | % | |||||||||||||||||||||||||||||||||||||||||||||
Tier 1 leverage ratio (1) | 9.78% | 9.70 | % | 9.91 | % | 9.62% | 9.73 | % | |||||||||||||||||||||||||||||||||||||||||||||
Common equity tier 1 capital ratio (CET1) (1) | 12.07% | 11.94 | % | 11.84 | % | 11.80% | 11.53 | % | |||||||||||||||||||||||||||||||||||||||||||||
Tangible common equity ratio (1)(3) | 8.04% | 8.69 | % | 9.02 | % | 9.39% | 8.87 | % | |||||||||||||||||||||||||||||||||||||||||||||
| Liquidity Ratios (%) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans to Deposits (1) | 85.78% | 82.17 | % | 85.07 | % | 86.01% | 83.63 | % | |||||||||||||||||||||||||||||||||||||||||||||
| Asset Quality Indicators (%) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-performing assets / Total assets (1) | 1.56% | 1.81 | % | 1.93 | % | 1.91% | 1.34 | % | |||||||||||||||||||||||||||||||||||||||||||||
Non-performing loans / Total gross loans (1) | 2.11% | 2.49 | % | 2.61 | % | 2.56% | 1.79 | % | |||||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses / Total non-performing loans | 63.45% | 49.97 | % | 45.01 | % | 46.26% | 76.37 | % | |||||||||||||||||||||||||||||||||||||||||||||
| Allowance for credit losses / Total loans held for investment | 1.36% | 1.27 | % | 1.21 | % | 1.20% | 1.37 | % | |||||||||||||||||||||||||||||||||||||||||||||
Net charge-offs / Average total loans held for investment (1) | 0.12% | 0.08 | % | 0.45 | % | 1.07% | 0.39 | % | |||||||||||||||||||||||||||||||||||||||||||||
| Efficiency Indicators (% except FTE) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Noninterest expense / Average total assets | 2.68% | 2.73 | % | 2.74 | % | 4.14% | 3.01 | % | |||||||||||||||||||||||||||||||||||||||||||||
| Salaries and employee benefits / Average total assets | 1.43% | 1.41 | % | 1.31 | % | 1.50% | 1.36 | % | |||||||||||||||||||||||||||||||||||||||||||||
Other operating expenses/ Average total assets (1) | 1.25% | 1.33 | % | 1.43 | % | 2.64% | 1.66 | % | |||||||||||||||||||||||||||||||||||||||||||||
Efficiency ratio (1) | 63.51% | 68.37 | % | 68.52 | % | 95.19% | 69.84 | % | |||||||||||||||||||||||||||||||||||||||||||||
FTEs | 687 | 704 | 699 | 694 | 704 | ||||||||||||||||||||||||||||||||||||||||||||||||
__________________
(1) See Glossary of Terms and Definitions for definitions of financial terms.
(2) In all periods shown, includes reserves on loans and contingent loans. The (reversal of) provision for unfunded commitments (contingencies) in the third, second and first quarters of 2026, and fourth and third quarters of 2025, were ($2.7 million), ($1.0 million), $1.1 million, $0.7 million and ($0.7 million), respectively.
(3) Non-GAAP measure. See “Non-GAAP Financial Measures” for more information and Exhibit 2 for a reconciliation to GAAP.
(4) See 2025 Form 10-K for more information on potential dilutive instruments and their impact on diluted earnings per share computation.
(5) In all periods shown, the Company’s Board of Directors declared and paid cash dividends of $0.09 per share of the Company’s common stock. In connection with these dividends, the Company paid an aggregate amount of $3.5 million, $3.6 million, $3.7 million, $3.7 million, and $3.8 million, in the third, second, and first quarters of 2026, and fourth and third quarters of 2025, respectively.
(6) Operating data for the periods presented have been annualized.
7
Exhibit 2- Non-GAAP Financial Measures Reconciliation
The following tables set forth selected financial information derived from the Company’s interim unaudited and annual audited consolidated financial statements, adjusted for certain items, including the provision for credit losses, income taxes and goodwill and other intangible assets. The Company believes these adjusted numbers are useful to understand the Company’s performance and underlying trends.
| Three Months Ended, | |||||||||||||||||||||||||||||||||||||||||
(in thousands) | September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||||||||||||||||||||||||||
| Net income attributable to Amerant Bancorp Inc. | $ | 25,716 | $ | 21,043 | $ | 17,873 | $ | 2,701 | $ | 14,756 | |||||||||||||||||||||||||||||||
Plus: provision for credit losses (1) | 6,200 | 4,750 | 7,800 | 3,490 | 14,600 | ||||||||||||||||||||||||||||||||||||
| Plus: provision for income tax expense (benefit) | 7,789 | 6,067 | 5,070 | (794) | 4,252 | ||||||||||||||||||||||||||||||||||||
Pre-tax pre-provision net revenue (PPNR) | 39,705 | 31,860 | 30,743 | 5,397 | 33,608 | ||||||||||||||||||||||||||||||||||||
(in thousands, except percentages, share data and per share amounts) | September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||
| Stockholders' equity | $ | 840,817 | $ | 914,369 | $ | 913,918 | $ | 938,802 | $ | 944,940 | ||||||||||||||||||||||||||||||||||||||||
Less: goodwill and other intangibles (2) | (21,389) | (21,522) | (22,933) | (23,103) | (23,784) | |||||||||||||||||||||||||||||||||||||||||||||
| Tangible common stockholders' equity | $ | 819,428 | $ | 892,847 | $ | 890,985 | $ | 915,699 | $ | 921,156 | ||||||||||||||||||||||||||||||||||||||||
| Total assets | 10,211,645 | 10,294,247 | 9,903,514 | 9,777,018 | 10,410,199 | |||||||||||||||||||||||||||||||||||||||||||||
Less: goodwill and other intangibles (2) | (21,389) | (21,522) | (22,933) | (23,103) | (23,784) | |||||||||||||||||||||||||||||||||||||||||||||
| Tangible assets | $ | 10,190,256 | $ | 10,272,725 | $ | 9,880,581 | $ | 9,753,915 | $ | 10,386,415 | ||||||||||||||||||||||||||||||||||||||||
| Common shares outstanding | 39,127,237 | 39,186,293 | 39,803,607 | 40,595,273 | 41,265,378 | |||||||||||||||||||||||||||||||||||||||||||||
| Tangible common equity ratio | 8.04 | % | 8.69 | % | 9.02 | % | 9.39 | % | 8.87 | % | ||||||||||||||||||||||||||||||||||||||||
| Stockholders' book value per common share | $ | 21.49 | $ | 23.33 | $ | 22.96 | $ | 23.13 | $ | 22.90 | ||||||||||||||||||||||||||||||||||||||||
| Tangible stockholders' equity book value per common share | $ | 20.94 | $ | 22.78 | $ | 22.38 | $ | 22.56 | $ | 22.32 | ||||||||||||||||||||||||||||||||||||||||
____________
(1) Includes provision for credit losses on loans and provision for loan contingencies.
(2) As of September 30, 2026 and June 30, 2026, other intangible assets primarily consist of naming rights. In prior periods, also includes mortgage servicing rights (“MSRs”). Other intangible assets are included in other assets in the Company’s consolidated balance sheets.
8
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 non-performing 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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| September 30, 2026 | June 30, 2026 | September 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| (in thousands, except percentages) | Average Balances | Income/ Expense | Yield/ Rates | Average Balances | Income/ Expense | Yield/ Rates | Average Balances | Income/ Expense | Yield/ Rates | ||||||||||||||||||||||||||||||||||||||||||||
| Interest-earning assets: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan portfolio, net (1) | $ | 6,816,846 | $ | 109,086 | 6.35 | % | $ | 6,674,563 | $ | 103,449 | 6.22 | % | $ | 6,946,370 | $ | 121,414 | 6.93 | % | |||||||||||||||||||||||||||||||||||
Debt securities available for sale (2) (3) | 2,381,772 | 29,028 | 4.84 | % | 2,344,767 | 28,302 | 4.84 | % | 1,973,763 | 24,146 | 4.85 | % | |||||||||||||||||||||||||||||||||||||||||
| Debt securities held for trading | — | — | — | % | 209 | — | — | % | 119,429 | 1,665 | 5.53 | % | |||||||||||||||||||||||||||||||||||||||||
| Equity securities with readily determinable fair value not held for trading | 2,496 | 22 | 3.50 | % | 2,527 | 22 | 3.49 | % | 2,528 | 20 | 3.14 | % | |||||||||||||||||||||||||||||||||||||||||
| Federal Reserve Bank and FHLB stock | 53,374 | 811 | 6.03 | % | 57,054 | 888 | 6.24 | % | 57,681 | 906 | 6.23 | % | |||||||||||||||||||||||||||||||||||||||||
| Deposits with banks (4) | 253,782 | 2,455 | 3.84 | % | 324,291 | 2,965 | 3.67 | % | 413,522 | 4,516 | 4.33 | % | |||||||||||||||||||||||||||||||||||||||||
| Other short-term investments | — | — | — | % | 3,856 | 35 | 3.64 | % | 7,122 | 76 | 4.23 | % | |||||||||||||||||||||||||||||||||||||||||
| Total interest-earning assets | 9,508,270 | 141,402 | 5.90 | % | 9,407,267 | 135,661 | 5.78 | % | 9,520,415 | 152,743 | 6.37 | % | |||||||||||||||||||||||||||||||||||||||||
| Total noninterest-earning assets (5) | 704,526 | 700,165 | 723,510 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total assets | $ | 10,212,796 | $ | 10,107,432 | $ | 10,243,925 | |||||||||||||||||||||||||||||||||||||||||||||||
9
| Three Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| September 30, 2026 | June 30, 2026 | September 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| (in thousands, except percentages) | Average Balances | Income/ Expense | Yield/ Rates | Average Balances | Income/ Expense | Yield/ Rates | Average Balances | Income/ Expense | Yield/ Rates | ||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing liabilities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Checking and saving accounts | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest bearing demand, savings, and money market deposits (6) | 4,579,959 | 26,548 | 2.30 | % | 4,618,118 | 27,154 | 2.36 | % | 4,395,707 | 28,900 | 2.61 | % | |||||||||||||||||||||||||||||||||||||||||
| Time deposits | 1,910,075 | 16,834 | 3.50 | % | 1,995,007 | 17,682 | 3.55 | % | 2,084,940 | 20,950 | 3.99 | % | |||||||||||||||||||||||||||||||||||||||||
| Total deposits | 6,490,034 | 43,382 | 2.65 | % | 6,613,125 | 44,836 | 2.72 | % | 6,480,647 | 49,850 | 3.05 | % | |||||||||||||||||||||||||||||||||||||||||
| Securities sold under agreements to repurchase | — | — | — | % | 95 | 1 | 4.22 | % | — | — | — | % | |||||||||||||||||||||||||||||||||||||||||
| Advances from the FHLB (7) | 634,927 | 6,098 | 3.81 | % | 712,801 | 6,935 | 3.90 | % | 726,520 | 7,316 | 4.00 | % | |||||||||||||||||||||||||||||||||||||||||
| Senior notes | 7,360 | 147 | 7.92 | % | — | — | — | % | — | — | — | % | |||||||||||||||||||||||||||||||||||||||||
| Subordinated notes | 29,902 | 361 | 4.79 | % | 29,859 | 362 | 4.86 | % | 29,731 | 362 | 4.83 | % | |||||||||||||||||||||||||||||||||||||||||
| Junior subordinated debentures | 64,178 | 950 | 5.87 | % | 64,178 | 952 | 5.95 | % | 64,178 | 1,063 | 6.57 | % | |||||||||||||||||||||||||||||||||||||||||
| Total interest-bearing liabilities | 7,226,401 | 50,938 | 2.80 | % | 7,420,058 | 53,086 | 2.87 | % | 7,301,076 | 58,591 | 3.18 | % | |||||||||||||||||||||||||||||||||||||||||
Noninterest-bearing liabilities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Noninterest bearing demand deposits | 1,828,805 | 1,533,032 | 1,726,507 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounts payable, accrued liabilities and other liabilities | 253,852 | 239,723 | 273,921 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total noninterest-bearing liabilities | 2,082,657 | 1,772,755 | 2,000,428 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total liabilities | 9,309,058 | 9,192,813 | 9,301,504 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Stockholders’ equity | 903,738 | 914,619 | 942,421 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total liabilities and stockholders' equity | $ | 10,212,796 | $ | 10,107,432 | $ | 10,243,925 | |||||||||||||||||||||||||||||||||||||||||||||||
| Excess of average interest-earning assets over average interest-bearing liabilities | $ | 2,281,869 | $ | 1,987,209 | $ | 2,219,339 | |||||||||||||||||||||||||||||||||||||||||||||||
| Net interest income | $ | 90,464 | $ | 82,575 | $ | 94,152 | |||||||||||||||||||||||||||||||||||||||||||||||
| Net interest rate spread | 3.10 | % | 2.91 | % | 3.19 | % | |||||||||||||||||||||||||||||||||||||||||||||||
| Net interest margin (7) | 3.77 | % | 3.52 | % | 3.92 | % | |||||||||||||||||||||||||||||||||||||||||||||||
| Cost of total deposits (7) | 2.07 | % | 2.21 | % | 2.41 | % | |||||||||||||||||||||||||||||||||||||||||||||||
| Ratio of average interest-earning assets to average interest-bearing liabilities | 131.58 | % | 126.78 | % | 130.40 | % | |||||||||||||||||||||||||||||||||||||||||||||||
| Average non-performing loans/ Average total loans | 2.30 | % | 2.55 | % | 1.30 | % | |||||||||||||||||||||||||||||||||||||||||||||||
10
| Nine Months Ended | |||||||||||||||||||||||||||||||||||
| September 30, 2026 | September 30, 2025 | ||||||||||||||||||||||||||||||||||
| (in thousands, except percentages) | Average Balances | Income/ Expense | Yield/ Rates | Average Balances | Income/ Expense | Yield/ Rates | |||||||||||||||||||||||||||||
| Interest-earning assets: | |||||||||||||||||||||||||||||||||||
| Loan portfolio, net (1) | $ | 6,672,710 | $ | 315,209 | 6.32 | % | $ | 7,078,705 | $ | 364,601 | 6.89 | % | |||||||||||||||||||||||
| Debt securities available for sale (2)(3) | 2,336,361 | 84,130 | 4.81 | % | 1,740,625 | 64,041 | 4.92 | % | |||||||||||||||||||||||||||
| Debt securities held for trading | 179 | — | — | % | 60,075 | 2,008 | 4.47 | % | |||||||||||||||||||||||||||
| Equity securities with readily determinable fair value not held for trading | 2,525 | 58 | 3.07 | % | 2,511 | 60 | 3.19 | % | |||||||||||||||||||||||||||
| Federal Reserve Bank and FHLB stock | 55,853 | 2,567 | 6.14 | % | 57,359 | 2,759 | 6.43 | % | |||||||||||||||||||||||||||
| Deposits with banks (4) | 289,603 | 8,018 | 3.70 | % | 502,191 | 16,560 | 4.41 | % | |||||||||||||||||||||||||||
| Other short-term investments | 3,653 | 98 | 3.59 | % | 6,870 | 217 | 4.22 | % | |||||||||||||||||||||||||||
| Total interest-earning assets | 9,360,884 | 410,080 | 5.86 | % | 9,448,336 | 450,246 | 6.37 | % | |||||||||||||||||||||||||||
| Total non-interest-earning assets (5) | 714,582 | 733,305 | |||||||||||||||||||||||||||||||||
| Total assets | $ | 10,075,466 | $ | 10,181,641 | |||||||||||||||||||||||||||||||
| Interest-bearing liabilities: | |||||||||||||||||||||||||||||||||||
| Checking and saving accounts | |||||||||||||||||||||||||||||||||||
| Interest bearing demand, savings, and money market deposits (6) | 4,543,021 | 80,067 | 2.36 | % | 4,344,282 | 85,626 | 2.64 | % | |||||||||||||||||||||||||||
| Time deposits | 1,971,971 | 52,770 | 3.58 | % | 2,153,720 | 67,093 | 4.17 | % | |||||||||||||||||||||||||||
| Total deposits | 6,514,992 | 132,837 | 2.73 | % | 6,498,002 | 152,719 | 3.14 | % | |||||||||||||||||||||||||||
| Securities sold under agreements to repurchase | 32 | 1 | 4.18 | % | 35 | 1 | 3.82 | % | |||||||||||||||||||||||||||
| Advances from the FHLB (7) | 686,409 | 19,879 | 3.87 | % | 722,493 | 21,746 | 4.02 | % | |||||||||||||||||||||||||||
| Senior notes | 2,480 | 147 | 7.92 | % | 19,742 | 1,020 | 6.91 | % | |||||||||||||||||||||||||||
| Subordinated notes | 29,859 | 1,084 | 4.85 | % | 29,689 | 1,084 | 4.88 | % | |||||||||||||||||||||||||||
| Junior subordinated debentures | 64,178 | 2,812 | 5.86 | % | 64,178 | 3,141 | 6.54 | % | |||||||||||||||||||||||||||
| Total interest-bearing liabilities | 7,297,950 | 156,760 | 2.87 | % | 7,334,139 | 179,711 | 3.28 | % | |||||||||||||||||||||||||||
| Non-interest-bearing liabilities: | |||||||||||||||||||||||||||||||||||
| Non-interest bearing demand deposits | 1,587,733 | 1,636,816 | |||||||||||||||||||||||||||||||||
| Accounts payable, accrued liabilities and other liabilities | 267,314 | 287,021 | |||||||||||||||||||||||||||||||||
| Total non-interest-bearing liabilities | 1,855,047 | 1,923,837 | |||||||||||||||||||||||||||||||||
| Total liabilities | 9,152,997 | 9,257,976 | |||||||||||||||||||||||||||||||||
| Stockholders’ equity | 922,469 | 923,665 | |||||||||||||||||||||||||||||||||
| Total liabilities and stockholders' equity | $ | 10,075,466 | $ | 10,181,641 | |||||||||||||||||||||||||||||||
| Excess of average interest-earning assets over average interest-bearing liabilities | $ | 2,062,934 | $2,114,197 | ||||||||||||||||||||||||||||||||
| Net interest income | $ | 253,320 | $ | 270,535 | |||||||||||||||||||||||||||||||
| Net interest rate spread | 2.99 | % | 3.09 | % | |||||||||||||||||||||||||||||||
| Net interest margin (7) | 3.62 | % | 3.83 | % | |||||||||||||||||||||||||||||||
| Cost of total deposits (7) | 2.19 | % | 2.51 | % | |||||||||||||||||||||||||||||||
| Ratio of average interest-earning assets to average interest-bearing liabilities | 128.27 | % | 128.83 | % | |||||||||||||||||||||||||||||||
| Average non-performing loans/ Average total loans | 2.41 | % | 1.36 | % | |||||||||||||||||||||||||||||||
(1) Includes loans held for investment net of the allowance for credit losses, and loans held for sale. Non-performing loans are included in the total loan portfolio balances.
(2) Includes the average balance of net unrealized gains and losses in the fair value of debt securities available for sale.
(3) Includes nontaxable securities with average balances of $49.4 million, $51.9 million and $54.2 million for the three months ended September 30, 2026, June 30, 2026 and September 30, 2025, respectively, and $50.4 million and $54.6 million in the nine months ended September 30, 2026 and 2025, respectively. The tax equivalent yield for these nontaxable securities was 4.75%, 4.70%, and 4.60% for the three months ended September 30, 2026, June 30, 2026 and September 30, 2025, respectively, and 4.80% and 4.68% in the nine months ended September 30, 2026 and 2025, respectively. In 2026 and 2025, the tax equivalent yields were calculated assuming a 21% tax rate and dividing the actual yield by 0.79.
(4) Deposits with banks in this table include time deposits with banks maturing in more than three months that are not considered cash and cash equivalents in the Company's consolidated balance sheet.
(5) Excludes the allowance for credit losses.
11
(6) To emphasize material items, certain line items previously presented separately in prior periods have been aggregated into a single line item in this table. This includes interest-bearing demand, savings, and money market deposits. The presentation for the three and nine months ended September 30, 2025 has been conformed accordingly for comparability.
(7) See Glossary of Terms and Definitions for definitions of financial terms.
12
Exhibit 4 - Noninterest Income
This table shows the amounts of each of the categories of noninterest income for the periods presented.
| Three Months Ended | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| September 30, 2026 | June 30, 2026 | September 30, 2025 | 2026 | 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (in thousands, except percentages) | Amount | % | Amount | % | Amount | % | Amount | % | Amount | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits and service fees | $ | 6,184 | 33.7 | % | $ | 5,419 | 29.8 | % | $ | 5,056 | 29.2 | % | $ | 16,475 | 30.6 | % | $ | 15,161 | 26.8 | % | ||||||||||||||||||||||||||||||||||||||||||
| Brokerage, advisory and fiduciary activities | 5,746 | 31.3 | % | 5,630 | 31.0 | % | 4,995 | 28.9 | % | 16,837 | 31.2 | % | 14,717 | 26.0 | % | |||||||||||||||||||||||||||||||||||||||||||||||
Change in cash surrender value of bank owned life insurance (“BOLI”)(1) | 2,690 | 14.7 | % | 2,629 | 14.5 | % | 2,554 | 14.8 | % | 7,883 | 14.6 | % | 7,494 | 13.2 | % | |||||||||||||||||||||||||||||||||||||||||||||||
| Cards and trade finance servicing fees | 1,556 | 8.5 | % | 1,432 | 7.9 | % | 1,321 | 7.6 | % | 4,427 | 8.2 | % | 4,517 | 8.0 | % | |||||||||||||||||||||||||||||||||||||||||||||||
| Gain on early extinguishment of FHLB advances, net | 621 | 3.4 | % | 54 | 0.3 | % | — | — | % | 675 | 1.3 | % | — | — | % | |||||||||||||||||||||||||||||||||||||||||||||||
Securities (losses) gains, net (2) | (26) | (0.1) | % | 408 | 2.2 | % | 1,203 | 7.0 | % | 898 | 1.7 | % | 3,046 | 5.4 | % | |||||||||||||||||||||||||||||||||||||||||||||||
Loan-level derivative income (3) | 536 | 2.9 | % | 1,174 | 6.5 | % | 2,372 | 13.7 | % | 3,241 | 6.0 | % | 7,084 | 12.5 | % | |||||||||||||||||||||||||||||||||||||||||||||||
Derivative losses, net (4) | — | — | % | — | — | % | (1,383) | (8.0) | % | — | — | % | (3,235) | (5.7) | % | |||||||||||||||||||||||||||||||||||||||||||||||
Other noninterest income (5) | 1,032 | 5.6 | % | 1,416 | 7.8 | % | 1,173 | 6.8 | % | 3,446 | 6.4 | % | 7,810 | 13.8 | % | |||||||||||||||||||||||||||||||||||||||||||||||
| Total noninterest income | $ | 18,339 | 100.0 | % | $ | 18,162 | 100.0 | % | $ | 17,291 | 100.0 | % | $ | 53,882 | 100.0 | % | $ | 56,594 | 100.0 | % | ||||||||||||||||||||||||||||||||||||||||||
__________________
(1) Changes in cash surrender value of BOLI are not taxable.
(2) There were insignificant gains on the sale of debt securities available for sale in the three months ended September 30, 2026. In the three months ended June 30, 2026, includes realized gains on the sale of debt securities available for sale of $0.4 million. In the nine months ended September 30, 2026, includes realized gains on the sale of debt securities available for sale of $0.9 million. In the three and nine months ended September 30, 2025, amounts are primarily in connection with gains on market valuation of trading securities.
(3) Income from interest rate swaps and other derivative transactions with customers.
(4) In the three and nine months ended September 30, 2025, includes net unrealized losses in connection with TBA MBS derivative contracts.
(5) Other sources of income in the periods shown include foreign currency exchange transactions with customers, mortgage banking income and loss and other smaller revenue streams.
13
Exhibit 5 - Noninterest Expense
This table shows the amounts of each of the categories of noninterest expense for the periods presented.
| Three Months Ended | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| September 30, 2026 | June 30, 2026 | September 30, 2025 | 2026 | 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (in thousands, except percentages) | Amount | % | Amount | % | Amount | % | Amount | % | Amount | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Salaries and employee benefits | $ | 36,895 | 53.4 | % | $ | 35,446 | 51.5 | % | $ | 35,094 | 45.1 | % | $ | 104,381 | 50.9 | % | $ | 104,477 | 46.7 | % | ||||||||||||||||||||||||||||||||||||||||||
| Occupancy and equipment | 5,899 | 8.5 | % | 4,995 | 7.3 | % | 5,211 | 6.7 | % | 16,317 | 8.0 | % | 16,838 | 7.5 | % | |||||||||||||||||||||||||||||||||||||||||||||||
Professional and other services fees | 15,257 | 22.1 | % | 13,087 | 19.0 | % | 15,997 | 20.6 | % | 39,760 | 19.4 | % | 44,228 | 19.8 | % | |||||||||||||||||||||||||||||||||||||||||||||||
| Telecommunications and data processing | 3,428 | 5.0 | % | 3,627 | 5.3 | % | 3,155 | 4.1 | % | 10,592 | 5.2 | % | 9,559 | 4.3 | % | |||||||||||||||||||||||||||||||||||||||||||||||
| Depreciation and amortization | 1,397 | 2.0 | % | 1,472 | 2.1 | % | 1,487 | 1.9 | % | 4,386 | 2.1 | % | 4,626 | 2.1 | % | |||||||||||||||||||||||||||||||||||||||||||||||
| FDIC assessments and insurance | 2,701 | 3.9 | % | 2,472 | 3.6 | % | 2,549 | 3.3 | % | 8,023 | 3.9 | % | 8,681 | 3.9 | % | |||||||||||||||||||||||||||||||||||||||||||||||
(Reversals) losses on loans held for sale carried at the lower of cost or fair value, net (1) | (65) | (0.1) | % | 1,118 | 1.6 | % | 881 | 1.1 | % | 2,876 | 1.4 | % | 881 | 0.4 | % | |||||||||||||||||||||||||||||||||||||||||||||||
| Advertising expenses | 2,378 | 3.4 | % | 4,274 | 6.2 | % | 3,987 | 5.1 | % | 9,591 | 4.7 | % | 12,441 | 5.6 | % | |||||||||||||||||||||||||||||||||||||||||||||||
| Other real estate owned and repossessed assets (income) expense, net | (1,308) | (1.9) | % | (253) | (0.4) | % | 215 | 0.3 | % | (1,793) | (0.9) | % | 980 | 0.4 | % | |||||||||||||||||||||||||||||||||||||||||||||||
Other operating expenses (2) (3) | 2,516 | 3.7 | % | 2,639 | 3.8 | % | 9,259 | 11.8 | % | 10,761 | 5.3 | % | 21,078 | 9.3 | % | |||||||||||||||||||||||||||||||||||||||||||||||
Total noninterest expense | $ | 69,098 | 100.0 | % | $ | 68,877 | 100.0 | % | $ | 77,835 | 100.0 | % | $ | 204,894 | 100.0 | % | $ | 223,789 | 100.0 | % | ||||||||||||||||||||||||||||||||||||||||||
___
(1) Includes losses on sale and valuation allowance provisions and releases on losses on loans held for sale.
(2) For a detailed discussion of the key components of other operating expenses, see the Company’s Form 10-K for the year ended December 31, 2025.
(3) Loan-level derivative expenses previously presented separately for the three and nine month periods ended September 30, 2025, have been reclassified and are now included in this category.
14
Exhibit 6 - Consolidated Balance Sheets
| (in thousands, except share data) | September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | |||||||||||||||||||||
| Assets | (audited) | |||||||||||||||||||||||||
Cash and due from banks and restricted cash | $ | 61,800 | $ | 41,042 | $ | 63,416 | $ | 53,478 | $ | 53,084 | ||||||||||||||||
| Interest earning deposits with banks | 299,670 | 260,090 | 117,997 | 409,444 | 570,612 | |||||||||||||||||||||
| Other short-term investments | — | — | 7,294 | 7,233 | 7,162 | |||||||||||||||||||||
| Cash and cash equivalents and restricted cash | 361,470 | 301,132 | 188,707 | 470,155 | 630,858 | |||||||||||||||||||||
| Time deposits with other banks | 500 | 500 | — | — | — | |||||||||||||||||||||
| Securities | ||||||||||||||||||||||||||
| Debt securities available for sale, at fair value | 2,166,041 | 2,549,256 | 2,370,308 | 2,024,883 | 2,122,416 | |||||||||||||||||||||
Trading securities | — | — | — | — | 119,935 | |||||||||||||||||||||
| Equity securities with readily determinable fair value not held for trading | 2,435 | 2,537 | 2,528 | 2,548 | 2,542 | |||||||||||||||||||||
| Federal Reserve Bank and Federal Home Loan Bank stock | 57,152 | 56,625 | 58,048 | 57,138 | 62,808 | |||||||||||||||||||||
| Securities | 2,225,628 | 2,608,418 | 2,430,884 | 2,084,569 | 2,307,701 | |||||||||||||||||||||
Loans held for sale, at the lower of cost or fair value (1) | 95,847 | 122,172 | 190,014 | 80,912 | — | |||||||||||||||||||||
| Mortgage loans held for sale, at fair value | 737 | 389 | 895 | 2,932 | — | |||||||||||||||||||||
| Loans held for investment, gross | 6,976,861 | 6,743,066 | 6,562,872 | 6,613,391 | 6,941,792 | |||||||||||||||||||||
Less: Allowance for credit losses (2) | 94,845 | 85,499 | 79,236 | 79,276 | 94,918 | |||||||||||||||||||||
| Loans held for investment, net | 6,882,016 | 6,657,567 | 6,483,636 | 6,534,115 | 6,846,874 | |||||||||||||||||||||
| Bank owned life insurance | 268,052 | 265,362 | 263,208 | 260,644 | 258,042 | |||||||||||||||||||||
| Deferred tax assets, net | 78,120 | 47,656 | 42,532 | 35,566 | 46,881 | |||||||||||||||||||||
| Operating lease right-of-use assets | 106,083 | 107,522 | 108,980 | 110,588 | 102,872 | |||||||||||||||||||||
Accrued interest receivable and other assets | 193,192 | 183,529 | 194,658 | 197,537 | 216,971 | |||||||||||||||||||||
| Total assets | $ | 10,211,645 | $ | 10,294,247 | $ | 9,903,514 | $ | 9,777,018 | $ | 10,410,199 | ||||||||||||||||
| Liabilities and Stockholders' Equity | ||||||||||||||||||||||||||
| Deposits | ||||||||||||||||||||||||||
| Demand | ||||||||||||||||||||||||||
| Noninterest bearing | $ | 2,081,886 | $ | 1,708,111 | $ | 1,466,670 | $ | 1,573,301 | $ | 1,768,764 | ||||||||||||||||
| Interest bearing demand, savings and money market | 4,236,579 | 4,736,160 | 4,425,019 | 4,217,594 | 4,434,274 | |||||||||||||||||||||
| Time | 1,927,207 | 1,911,037 | 2,047,412 | 1,996,039 | 2,097,931 | |||||||||||||||||||||
| Total deposits | 8,245,672 | 8,355,308 | 7,939,101 | 7,786,934 | 8,300,969 | |||||||||||||||||||||
| Advances from the Federal Home Loan Bank | 715,000 | 702,608 | 732,263 | 711,984 | 831,699 | |||||||||||||||||||||
| Senior notes | 48,366 | — | — | — | — | |||||||||||||||||||||
| Subordinated notes | 29,922 | 29,880 | 29,837 | 29,795 | 29,752 | |||||||||||||||||||||
| Junior subordinated debentures held by trust subsidiaries | 64,178 | 64,178 | 64,178 | 64,178 | 64,178 | |||||||||||||||||||||
Operating lease liabilities (3) | 113,939 | 115,310 | 116,456 | 117,456 | 109,726 | |||||||||||||||||||||
Accounts payable, accrued liabilities and other liabilities | 153,751 | 112,594 | 107,761 | 127,869 | 128,935 | |||||||||||||||||||||
| Total liabilities | 9,370,828 | 9,379,878 | 8,989,596 | 8,838,216 | 9,465,259 | |||||||||||||||||||||
| Stockholders’ equity | ||||||||||||||||||||||||||
| Class A common stock | 3,912 | 3,917 | 3,978 | 4,058 | 4,125 | |||||||||||||||||||||
| Additional paid in capital | 282,446 | 283,037 | 297,503 | 316,067 | 327,205 | |||||||||||||||||||||
| Retained earnings | 673,332 | 651,145 | 633,716 | 619,552 | 620,542 | |||||||||||||||||||||
| Accumulated other comprehensive loss | (118,873) | (23,730) | (21,279) | (875) | (6,932) | |||||||||||||||||||||
| Total stockholders' equity | 840,817 | 914,369 | 913,918 | 938,802 | 944,940 | |||||||||||||||||||||
| Total liabilities and stockholders' equity | $ | 10,211,645 | $ | 10,294,247 | $ | 9,903,514 | $ | 9,777,018 | $ | 10,410,199 | ||||||||||||||||
15
__________
(1) As of September 30, 2026, June 30, 2026, March 31, 2026 and December 31, 2025, includes valuation allowances of $2.4 million, $2.7 million, $3.4 million and $13.8 million, respectively.
(2) In the first quarter of 2026, the Company early adopted ASU 2025‑08, which expands the use of the gross‑up approach for certain purchased loans and eliminates Day 1 credit loss expense. As a result, in the third, second and first quarters of 2026, the Company recorded an allowance for credit losses of $2.5 million, $1.9 million and $0.5 million, respectively, on approximately $190.6 million, $149.5 million and $36.8 million of acquired loans, respectively, with no Day 1 impact to earnings.
(3) Consists of total long-term lease liabilities. Total short-term lease liabilities are included in other liabilities.
Exhibit 7 - Loans
Loans by Type - Held For Investment
The loan portfolio held for investment consists of the following loan classes:
| (in thousands) | September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||||||||||||||
| Real estate loans | (audited) | ||||||||||||||||||||||||||||
| Commercial real estate | |||||||||||||||||||||||||||||
| Non-owner occupied | $ | 1,468,739 | $ | 1,526,962 | $ | 1,501,909 | $ | 1,591,861 | $ | 1,656,180 | |||||||||||||||||||
| Multi-family residential | 220,001 | 234,116 | 261,332 | 322,447 | 361,650 | ||||||||||||||||||||||||
| Land development and construction loans | 500,872 | 512,272 | 505,007 | 534,028 | 544,727 | ||||||||||||||||||||||||
| 2,189,612 | 2,273,350 | 2,268,248 | 2,448,336 | 2,562,557 | |||||||||||||||||||||||||
| Single-family residential | 2,159,674 | 1,954,193 | 1,680,768 | 1,515,181 | 1,550,724 | ||||||||||||||||||||||||
| Owner occupied | 710,758 | 732,190 | 790,445 | 809,336 | 900,596 | ||||||||||||||||||||||||
| 5,060,044 | 4,959,733 | 4,739,461 | 4,772,853 | 5,013,877 | |||||||||||||||||||||||||
| Commercial loans | 1,657,316 | 1,488,182 | 1,485,438 | 1,446,406 | 1,519,778 | ||||||||||||||||||||||||
| Loans to financial institutions and acceptances | 49,502 | 85,492 | 112,667 | 148,602 | 164,974 | ||||||||||||||||||||||||
Consumer loans and overdrafts | 209,999 | 209,659 | 225,306 | 245,530 | 243,163 | ||||||||||||||||||||||||
| Total loans | $ | 6,976,861 | $ | 6,743,066 | $ | 6,562,872 | $ | 6,613,391 | $ | 6,941,792 | |||||||||||||||||||
16
Loans by Type - Held For Sale
The loan portfolio held for sale consists of the following loan classes:
| (in thousands) | September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||||||||||||||||||||
| Loans held for sale at the lower of cost or fair value | (audited) | ||||||||||||||||||||||||||||||||||
| Real estate loans | |||||||||||||||||||||||||||||||||||
| Commercial real estate | |||||||||||||||||||||||||||||||||||
| Non-owner occupied | $ | 59,826 | $ | 63,296 | $ | 63,908 | $ | 43,406 | $ | — | |||||||||||||||||||||||||
| Multi-family residential | — | 22,722 | 60,794 | — | — | ||||||||||||||||||||||||||||||
| Land development and construction loans | 23,626 | 23,639 | 52,613 | 22,339 | — | ||||||||||||||||||||||||||||||
| 83,452 | 109,657 | 177,315 | 65,745 | — | |||||||||||||||||||||||||||||||
| Owner occupied | 12,395 | 12,515 | 12,699 | 15,167 | — | ||||||||||||||||||||||||||||||
| 95,847 | 122,172 | 190,014 | 80,912 | — | |||||||||||||||||||||||||||||||
| Total loans held for sale at the lower of cost or fair value | 95,847 | 122,172 | 190,014 | 80,912 | — | ||||||||||||||||||||||||||||||
| Mortgage loans held for sale at fair value | |||||||||||||||||||||||||||||||||||
| Single-family residential | 737 | 389 | 895 | 2,932 | — | ||||||||||||||||||||||||||||||
Total mortgage loans held for sale at fair value | 737 | 389 | 895 | 2,932 | — | ||||||||||||||||||||||||||||||
| Total loans held for sale | $ | 96,584 | $ | 122,561 | $ | 190,909 | $ | 83,844 | $ | — | |||||||||||||||||||||||||
17
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) | September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||||||||||||||
| Non-Accrual Loans | (audited) | ||||||||||||||||||||||||||||
| Real Estate Loans | |||||||||||||||||||||||||||||
| Commercial real estate (CRE) | |||||||||||||||||||||||||||||
| Non-owner occupied | $ | 4,677 | $ | 9,386 | $ | 11,172 | $ | 4,288 | $ | 4,374 | |||||||||||||||||||
| Multi-family residential | 377 | 429 | — | — | 7,018 | ||||||||||||||||||||||||
Land development and construction loans (1) | — | — | — | 16,200 | 19,577 | ||||||||||||||||||||||||
| 5,054 | 9,815 | 11,172 | 20,488 | 30,969 | |||||||||||||||||||||||||
| Single-family residential | 31,077 | 31,180 | 27,346 | 26,082 | 8,838 | ||||||||||||||||||||||||
| Owner occupied | 24,833 | 40,506 | 40,745 | 28,733 | 15,287 | ||||||||||||||||||||||||
| 60,964 | 81,501 | 79,263 | 75,303 | 55,094 | |||||||||||||||||||||||||
| Commercial loans | 79,452 | 79,020 | 85,481 | 83,761 | 67,081 | ||||||||||||||||||||||||
| Consumer loans and overdrafts | 7,667 | 8,317 | 8,969 | 9,204 | 725 | ||||||||||||||||||||||||
Total Non-Accrual Loans (1) | $ | 148,083 | $ | 168,838 | $ | 173,713 | $ | 168,268 | $ | 122,900 | |||||||||||||||||||
Past Due Accruing Loans | |||||||||||||||||||||||||||||
| Real Estate Loans | |||||||||||||||||||||||||||||
| Commercial real estate (CRE) | |||||||||||||||||||||||||||||
| Single-family residential | 179 | — | — | — | — | ||||||||||||||||||||||||
| Owner occupied | 1,220 | — | — | 730 | — | ||||||||||||||||||||||||
| Commercial | — | 2,252 | 2,337 | 2,372 | 1,392 | ||||||||||||||||||||||||
| Consumer loans and overdrafts | — | — | — | — | — | ||||||||||||||||||||||||
Total Past Due Accruing Loans (2) | $ | 1,399 | $ | 2,252 | $ | 2,337 | $ | 3,102 | $ | 1,392 | |||||||||||||||||||
| Total Non-Performing Loans | 149,482 | 171,090 | 176,050 | 171,370 | 124,292 | ||||||||||||||||||||||||
| Other Real Estate Owned | 10,044 | 15,542 | 15,542 | 15,542 | 15,606 | ||||||||||||||||||||||||
Total Non-Performing Assets (1) | $ | 159,526 | $ | 186,632 | $ | 191,592 | $ | 186,912 | $ | 139,898 | |||||||||||||||||||
__________________
(1) At December 31, 2025, balances included $16.2 million in land development and construction loans held for sale, which were sold in January 2026. There were no loans both classified as held for sale and in non-performing status in any of the other periods shown.
(2) Loans past due 90 days or more but still accruing.
18
Loans by Credit Quality Indicators
This table shows the Company’s loans by credit quality indicators. The Company has not purchased credit-deteriorated loans.
| September 30, 2026 | June 30, 2026 | September 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (in thousands) | Special Mention | Substandard | Doubtful | Total (1) | Special Mention | Substandard | Doubtful | Total (1) | Special Mention | Substandard | Doubtful | Total (1) | |||||||||||||||||||||||||||||||||||||||||||||||
| Real Estate Loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial Real Estate (CRE) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-owner occupied | $ | 75,800 | $ | 20,454 | $ | — | $ | 96,254 | $ | 67,222 | $ | 25,211 | $ | — | $ | 92,433 | $ | 53,284 | $ | 42,406 | $ | — | $ | 95,690 | |||||||||||||||||||||||||||||||||||
| Multi-family residential | — | 377 | — | 377 | — | 429 | — | 429 | — | 29,430 | — | 29,430 | |||||||||||||||||||||||||||||||||||||||||||||||
| Land development and construction loans | 35,901 | — | — | 35,901 | 35,939 | — | — | 35,939 | 3,959 | 19,577 | — | 23,536 | |||||||||||||||||||||||||||||||||||||||||||||||
| 111,701 | 20,831 | — | 132,532 | 103,161 | 25,640 | — | 128,801 | 57,243 | 91,413 | — | 148,656 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Single-family residential | 2,500 | 31,077 | — | 33,577 | — | 31,229 | 31,229 | 738 | 8,717 | — | 9,455 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Owner occupied | 4,964 | 61,478 | — | 66,442 | 4,985 | 77,964 | — | 82,949 | 45,365 | 35,085 | — | 80,450 | |||||||||||||||||||||||||||||||||||||||||||||||
| 119,165 | 113,386 | — | 232,551 | 108,146 | 134,833 | — | 242,979 | 103,346 | 135,215 | — | 238,561 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial loans | 1,555 | 91,917 | — | 93,472 | 1,634 | 95,741 | — | 97,375 | 120,997 | 105,905 | — | 226,902 | |||||||||||||||||||||||||||||||||||||||||||||||
| Loans to financial institutions and acceptances | — | — | — | — | — | 34,210 | — | 34,210 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
| Consumer loans and overdrafts | — | 7,667 | — | 7,667 | — | 8,317 | — | 8,317 | — | 725 | 725 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total | $ | 120,720 | $ | 212,970 | $ | — | $ | 333,690 | $ | 109,780 | $ | 273,101 | $ | — | $ | 382,881 | $ | 224,343 | $ | 241,845 | $ | — | $ | 466,188 | |||||||||||||||||||||||||||||||||||
__________
(1) There were no loans categorized as “loss” as of the dates presented.
19
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) | September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||||||||||||||
| (audited) | |||||||||||||||||||||||||||||
| Domestic | $ | 5,033,484 | $ | 5,133,588 | $ | 5,228,588 | $ | 5,168,371 | $ | 5,732,799 | |||||||||||||||||||
| Foreign: | |||||||||||||||||||||||||||||
| Venezuela | 2,395,066 | 2,491,875 | 2,005,521 | 1,910,980 | 1,881,871 | ||||||||||||||||||||||||
| Others | 817,122 | 729,845 | 704,992 | 707,583 | 686,299 | ||||||||||||||||||||||||
| Total foreign | 3,212,188 | 3,221,720 | 2,710,513 | 2,618,563 | 2,568,170 | ||||||||||||||||||||||||
| Total deposits | $ | 8,245,672 | $ | 8,355,308 | $ | 7,939,101 | $ | 7,786,934 | $ | 8,300,969 | |||||||||||||||||||
20
Glossary of Terms and Definitions
•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.
•Classified loans: consist of loans that have been adversely classified due to credit risk and are categorized as substandard and doubtful.
•Common equity tier 1 capital ratio, CET1: Tier 1 capital divided by total risk-weighted assets.
•Core deposits: consist of total deposits excluding all time deposits.
•Cost of total deposits: calculated based upon the average balance of total noninterest bearing and interest bearing deposits, which includes time deposits.
•Efficiency ratio: total noninterest expense divided by the sum of noninterest income and NII.
•FTEs: full-time equivalent employees
•Loans to Deposits ratio: calculated as the ratio of total gross loans divided by total deposits.
•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.
•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.
•Other operating expenses: total noninterest expense less salary and employee benefits.
•Ratio for net charge-offs/average total loans held for investment: 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.
•ROA is calculated based upon the average daily balance of total assets.
•ROE is calculated based upon the average daily balance of stockholders’ equity.
•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.
•The terms of the FHLB advance agreements require the Bank to maintain certain investment securities or loans as collateral for these advances.
•Tier 1 capital: 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 the dates presented.
•Tier 1 leverage ratio: Tier 1 capital divided by quarter to date average assets.
•Total capital ratio: total qualifying regulatory stockholders’ equity divided by total risk-weighted assets, calculated according to the standardized regulatory capital ratio calculations.
•Total gross loans: consists of the principal balance of outstanding loans, including loans held for investment, loans held for sale at the lower of cost or fair value, and mortgage loans held for sale, net of unamortized deferred nonrefundable loan origination fees and loan origination costs, unamortized premiums paid on purchased loans and the unamortized balance of initial allowance for credit losses on purchased seasoned loans.
•Total revenue is the result of net interest income before provision for credit losses plus noninterest income.
21
Third Quarter Earnings Presentation October 23, 2026
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 loan recoveries, or reaching positive resolutions on problem loans, or significantly reducing special mention and/or non-performing 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,” “outlook,” “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, 2025 filed on February 27, 2026, in our quarterly report on Form 10-Q for the quarter ended March 31, 2026, filed on May 1, 2026, 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 nine month periods ended September 30, 2026 and 2025, and the three month periods ended June 30, 2026, March 31, 2026, and December 31, 2025, may not reflect our results of operations for our fiscal year ending, or financial condition as of December 31, 2026, 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-tax pre-provision net revenue (PPNR)”, "tangible common equity ratio", and “tangible stockholders’ equity (book value) per common share”. 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 GAAP reported results. Beginning in the first quarter of 2026, the Company reviewed and updated its use of non‑GAAP financial measures and now presents a limited set of metrics that management uses to evaluate performance and make operating decisions. As part of this update, the Company discontinued the presentation of “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)”, and “core efficiency ratio” as management determined these measures are no longer primary metrics used internally. This change does not reflect any change in the Company’s underlying business, operations, or GAAP financial results.
3 With a stronger foundation now in place, our focus is shifting toward enhancing franchise value and delivering sustainable returns for our shareholders. Opening Remarks Asset quality reflects continued portfolio de-risking, with sustained improvement toward target levels. Advancing workflow enhancements and automating the credit approval process to improve data integrity, accountability, and consistency. Continued disciplined expense management efforts while enhancing our earnings generation power to significantly improve operational efficiency Evaluated and prioritized relationship return by segmenting our portfolio based on profitability to allocate resources where they yield the most value Accelerated domestic loan growth while sustaining the momentum of our international franchise across both deposits and AUMs.
4 Key Financial Metrics (3Q26 vs 2Q26) Assets • Total assets were $10.2 billion, compared to $10.3 billion • Cash and cash equivalents and restricted cash were $361.5 million, compared to $301.1 million • Total investment securities were $2.2 billion, compared to $2.6 billion • Total gross loans were $7.1 billion, compared to $6.9 billion Liabilities • Total deposits were $8.2 billion, compared to $8.4 billion • Core deposits were $6.3 billion, compared to $6.4 billion • Noninterest bearing deposits to total deposits was 25.2%, compared to 20.4% • Brokered deposits were $497.4 million, compared to $498.2 million • FHLB advances were $715.0 million, compared to $702.6 million • On September 17, 2026, the Company completed a registered offering of $50.0 million aggregate principal amount of 7.00% Senior Notes due 2031. Off-Balance Sheet • AUM totaled $3.45 billion, compared to $3.37 billion
5 Key Financial Metrics (3Q26 vs 2Q26) Income Statement • NII was $90.5 million, compared to $82.6 million • Provision for credit losses was $6.2 million, compared to $4.8 million • Noninterest income was $18.3 million, compared to $18.2 million • Noninterest expense was $69.1 million, compared to $68.9 million • PPNR (1) was $39.7 million, compared to $31.9 million • Net income attributable to the Company was $25.7 million, compared to net income of $21.0 million Relative Performance Metrics • NIM was 3.77%, compared to 3.52% • Diluted EPS was $0.65, compared to diluted EPS of $0.53 • Efficiency ratio was 63.51%, compared to 68.37% • ROA was 1.00%, compared to 0.84% • ROE was 11.29%, compared to 9.23% (1) Non-GAAP measure, see “Non-GAAP Financial Measures” for more information and Appendix 1 for a reconciliation to GAAP measures.
6 Key Financial Metrics (3Q26 vs 2Q26) (1) Non-GAAP Financial Measures. See Appendix 1 for a reconciliation to GAAP. (2) TCE Ratio: 3Q26 includes $118.9 million accumulated unrealized losses net of taxes, compared to $23.7 million in 2Q26 Capital • Total Capital Ratio was 14.48%, compared to 14.34% • CET1 was 12.07%, compared to 11.94% • TCE Ratio (1) (2) was 8.04%, compared to 8.69% Capital Management Actions • Paid quarterly cash dividend of $0.09 per common share on August 28, 2026 • Repurchased 70,592 shares for $2.0 million at a weighted average price of $28.47 per share, or 1.36x of TBV per share(1) and 1.32x of book value per share • TBV per share(1) was $20.94, compared to $22.78
7 $8,301 $7,787 $7,939 $8,355 $8,246 $4,434 $4,218 $4,425 $4,736 $4,237 $1,548 $1,560 $1,499 $1,413 $1,430 $550 $436 $548 $498 $497 $1,769 $1,573 $1,467 $1,708 $2,082 2.41% 2.34% 2.31% 2.21% 2.07% 3Q25 4Q25 1Q26 2Q26 3Q26 Deposit Composition Loan Composition (2) Transaction Deposits Customer CDs Brokered Deposits (1) Cost of Total Deposits ($ in millions) Noninterest Bearing Demand Deposits Well Diversified Deposit & Loan Mix (1) Brokered Deposits: All periods primarily consist of time deposits. $6,942 $6,697 $6,753 $6,866 $7,073 $2,563 $2,514 $2,446 $2,383 $2,273 $1,685 $1,595 $1,598 $1,574 $1,707 $901 $825 $803 $745 $723 $1,551 $1,518 $1,681 $1,954 $2,160 $243 $245 $225 $210 $210 6.93% 6.73% 6.38% 6.22% 6.35% 3Q25 4Q25 1Q26 2Q26 3Q26 Consumer CRE Commercial and FI & Acceptances Owner Occupied Single Family Residential Average Loan Yield ($ in millions) (2) 3Q26, 2Q26, 1Q26, and 4Q25 include both mortgage loans held for sale carried at fair value and loans held for sale carried at the lower of cost or fair value. There were no loans held for sale in 3Q25.
8 $94.2 $90.2 $80.3 $82.6 $90.5 3.92% 3.78% 3.55% 3.52% 3.77% Net Interest Income NIM 3Q25 4Q25 1Q26 2Q26 3Q26 0 10 20 30 40 50 60 70 80 90 NII and NIM (%) 8 ($ in millions) 3Q25 4Q25 1Q26 2Q26 3Q26 Cost of Deposits (Domestic) 3.00 % 2.96 % 3.00 % 2.93 % 2.85 % Cost of Deposits (International) 1.19 % 1.11 % 1.04 % 0.99 % 0.94 % Cost of FHLB Advances 4.00 % 3.90 % 3.90 % 3.90 % 3.81 % Cost of Funds 2.57 % 2.51 % 2.47 % 2.38 % 2.23 % 0.40 0.48 0.13 Cumulative Beta 1Q26 2Q26 3Q26 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) Reset starting point for beta calculation to 8/31/26, as the first increase in Fed funds rates following the downward rate cycle occurred in Sep. 2026 (2)
9 Drivers of Change in NIM 3.52% 0.18% 0.06% 0.03% (0.04)% 0.02% 3.77% 2Q26 Loans Additional Interest Income from NPL Exits Securities Other Earning Assets Cost of Funds 3Q26
10 Non-Performing Loans ($ in millions) $171.1 $26.7 $(3.9) $(44.4) $149.5 2Q26 Downgrades to NPLs Charge-offs Paydowns/Payoffs and Others 3Q26 Highlights NPAs were $159.5 million, which includes $149.5 million in NPLs and $10.0 million in OREO. As of 3Q26, the NPLs had the following composition: • $41.3 million had real estate collateral with a weighted avg. LTV of 73.9% • $19.7 million had other types of collateral • $64.3 million were cashflow-dependent loans • The remaining loans were collectively evaluated for reserves
11 Classified Loans $273.1 $24.2 $(3.9) $(80.3) $(0.1) $213.0 2Q26 Downgrades Charge-offs Paydowns/Payoffs Upgrades 3Q26 ($ in millions) Highlights As of 3Q26 the Classified loans had the following composition: • $90.4 million had real estate collateral with a weighted avg. LTV of 68.4% • $81.1 million were cashflow-dependent loans • $17.2 million had other types of collateral • The remaining loans were collectively evaluated for reserves
12 Special Mention Loans $109.8 $11.3 $(0.4) $120.7 2Q26 Downgrades to Special Mention Paydown/ Payoffs 3Q26 ($ in millions) Highlights As of 3Q26 the Special Mention loans had the following composition: • $116.7 million had real estate collateral with a weighted avg. LTV of 58.4% • The remaining loans were smaller commercial loans
13 NCOs and Allowance for Credit Losses $85.5 $(3.9) $1.9 $2.0 $12.6 $(6.4) $0.6 $2.5 $94.8 2Q26 Gross Charge- offs Recoveries Requirement for Charge- offs Specific Reserve Change Credit Quality and Macroeconomic Factor Updates Loan Growth Day 1 PSL Adjustment 3Q26 Portfolios Balance 2Q26 Reserve Build (1) Balance 3Q26 Real Estate $ 24,435 $ (2,291) $ 22,144 Commercial $ 37,859 $ 14,170 $ 52,029 Consumer and Others $ 23,205 $ (2,533) $ 20,672 Total ACL $ 85,499 $ 9,346 $ 94,845 ACL Roll-forward Allowance for Credit Losses NCO-to-Average Total Loans Ratio ($ in millions) Period / Portfolio CRE Owner- Occupied Single-Family Residential Commercial Financial Institutions Consumer and Others Total 3Q25 0.07% —% —% 0.25% —% 0.07% 0.39% 4Q25 0.05% —% —% 0.98% —% 0.04% 1.07% 1Q26 —% —% —% 0.27% —% 0.18% 0.45% 2Q26 —% —% —% 0.05% —% 0.03% 0.08% 3Q26 —% —% —% 0.09% —% 0.03% 0.12% ($ in thousands) (% are annualized) (1) Includes ACL on purchased seasoned loans ("PSLs"). See Glossary for more details on the Company's early adoption of ASU 2025-08.
14 Outlook • Total loans projected to reach approximately $7.3 billion by 4Q26 • Total deposits projected to reach approximately $8.5 billion by 4Q26, primarily driven by low-cost international deposit growth • Net interest margin projected to be in the range of 3.65% - 3.70% in 4Q26 • Noninterest expense in 4Q26 is projected to be approximately $68 million in 4Q26, as we continue to make progress toward a target efficiency ratio of approximately 60% • Will continue to optimize capital management, balancing between retaining capital for growth, and buybacks and dividends to enhance shareholder returns
15 As we head into the final quarter of the year, we remain focused on executing against our strategic priorities with discipline and purpose to translate strategic progress into measurable financial results. • Sustaining loan growth momentum with a focus on risk-adjusted returns and balance sheet quality • Continuing to advance credit quality by: ◦ Deepening our credit culture through consistent underwriting standards, relationship-based decision-making, and proactive portfolio oversight ◦ Cultivating a high-quality pipeline with enhanced transparency into risk-adjusted returns and stronger accountability across the credit process • Realizing the benefits of previously announced efficiency initiatives, with recurring cost reductions beginning to strengthen our operating leverage • Advancing our relationship-first approach to deepen client engagement and drive lower-cost deposit growth across domestic and international markets • Preserving strong capital ratios by balancing capital retained to support growth with dividend payments and share repurchases Closing Remarks
Supplemental Information
17 92.9% 7.1% $2,122 $2,549 $2,166 4.89% 4.84% 4.83% AFS Trading Marketable Equity Securities Yield 3Q25 2Q26 3Q26 0 2,000 93.7% 6.3% Balances and Yields (1) Fixed vs. Floating (2) September 2026 Floating rate Fixed rate Available for Sale Securities by Type September 30, 2026 4.7 yrs Effective Duration ($ 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 5.8 yrs Effective Duration $52.6 $54.8 $58.4 $59.1 4Q26 1Q27 2Q27 3Q27 $0.0 $25.0 $50.0 $75.0 ($ in millions) Expected Prepayments & Maturities Expected Prepayments & Maturities (3) Maturing Yield % Investment Portfolio 4.85% June 2026 As of September 30, 2026, 100.0% of the Available for Sale portfolio consists of MBS issued or guaranteed by Government agencies and Government sponsored enterprises. $2.5$2.5 $2.4 5.04%4.94%4.95% $119.9
18 91.5% 91.0% 89.8% 89.9% 90.4% 2.7% 2.8% 2.7% 2.6% 2.1% 4.0% 4.2% 5.4% 5.4% 5.3% 1.8% 2.0% 2.1% 2.1% 2.2% South Florida New York Tampa Other 3Q25 4Q25 1Q26 2Q26 3Q26 Geographic Mix (Domestic) Geographic Mix (1) Loan Portfolio Geographic Mix (1) 3Q26, 2Q26, 1Q26, and 4Q25 include both mortgage loans held for sale carried at fair value and loans held for sale carried at the lower of cost or fair value. There were no loans held for sale in 3Q25. This geographic categorization is based on internal criteria. (2) Consists of international loans; fully-collateralized securities-based lending and residential loans with U.S. collateral. (2)
19 Loans Held for Investment Portfolio by Industry • Diversified portfolio - highest sector concentration, other than real estate, at 12% of total loans • 73% of total loans secured by real estate • Main concentrations: – CRE – Services – Communication, Transportation, Health and Other – Services – Accommodation, Restaurants, Entertainment and other services – Retail - Gas stations and Food retailers – Wholesale - Food & Electronics and Computer parts wholesalers – Financial Sector - Non- Depository Financial institutions Highlights (1) Consists primarily of finance facilities granted to non-bank financial companies composed mainly of 2.2% corporate finance, 0.6% CRE note-on-note financing, 0.8% mortgage warehousing lines and 0.1% others (2) Comprised mostly of construction and real estate related services and equipment rental and leasing activities. (3) Food wholesalers represented approximately 55%. (4) Gasoline stations represented approximately 35%. (5) Healthcare represented approximately 42%. (6) Restaurants and food services represented 57%. (7) Primarily residential 29%, other consumer loans 1% and loans belonging to industrial sectors not included in the above sectors, which do not individually represent more than 1 percent of the total loan portfolio ($ in millions) Real Estate Non-Real Estate Total % Total Loans Financial Sector (1) $ 5 $ 246 $ 251 3.6 % Construction and Real Estate & Leasing: Commercial real estate loans 2,190 — 2,190 31.4 % Other real estate related services and equipment leasing (2) 153 109 262 3.8 % Total construction and real estate & leasing 2,343 109 2,452 35.1 % Manufacturing: Foodstuffs, Apparel 44 56 100 1.4 % Metals, Computer, Transportation and Other 12 133 145 2.1 % Chemicals, Oil, Plastics, Cement and Wood/Paper 22 73 95 1.4 % Total Manufacturing 78 262 340 4.9 % Wholesale (3) 90 191 281 4.0 % Retail Trade (4) 169 149 318 4.6 % Services: Non-Financial Public Sector — 19 19 0.3 % Communication, Transportation, Health and Other (5) 138 246 384 5.5 % Accommodation, Restaurants, Entertainment and other services (6) 70 273 343 4.9 % Electricity, Gas, Water, Supply and Sewage Services 3 106 109 1.6 % Total Services 211 644 855 12.3 % Primary Products: Agriculture, Livestock, Fishing and Forestry 1 1 2 — % Mining — 7 7 0.1 % Total Primary Products 1 8 9 0.1 % Other Loans (7) 2,163 308 2,471 35.4 % Total Loans $ 5,060 $ 1,917 $ 6,977 100.0 % September 30, 2026
20 CRE Type FL TX NY Other Total % Total CRE % Total Loans (1) Income Producing (2) Land and Construction Retail $ 492 $ 10 $ 44 $ 32 $ 578 26.4 % 8.3 % $ 578 $ — Multifamily 282 64 43 92 481 22.0 % 6.9 % 220 261 Office 255 63 18 70 406 18.5 % 5.8 % 396 10 Hotels 176 28 — 13 217 9.9 % 3.1 % 201 16 Industrial 84 — — 32 116 5.3 % 1.7 % 116 — Specialty 166 12 — 29 207 9.5 % 3.0 % 178 29 Land 172 — — 13 185 8.4 % 2.6 % — 185 Total CRE $ 1,627 $ 177 $ 105 $ 281 $ 2,190 100.0 % 31.4 % $ 1,689 $ 501 Outstanding as of September 30, 2026 ($ in millions) This geographic segmentation is based on collateral location. (1) Calculated as a percentage of loans held for investment only. (2) Income producing properties include non-owner occupied and multi-family residential loans. Total CRE Loans - Detail CRE Type FL TX NY Total Multifamily $ — $ — $ — $ — Retail 6 — 17 23 Office — — 21 21 Hotels — 16 — 16 Land 23 — — 23 Total $ 29 $ 16 $ 38 $ 83 Loans Held for Sale Loans Held for Investment
21 26% 23% 32% 19% —% 50% or less 51- 60% 61- 70% 71- 80% 81% or more 0% 10% 20% 30% 40% 50% 60% • Florida primarily includes 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 two loans in high traffic retail corridors with proximity to public transportation services • Single-tenant consists of one loan in Michigan (Gym) and three smaller loans in South Florida CRE Retail (1) Retail - LTV (2) Sporting & Recreational Goods; 55% Healthcare; 15% Auto; 30% CRE Retail - Single Tenant (1) (1) CRE retail loans held for investment above $3.0 million (2) LTV at origination Total: $521 million Loan Portfolio Percentage: 7.5% Total: $22 million Loan Portfolio Percentage: 0.3% Neighborhood Center; 33% Strip Mall/ Convenience; 31% Community Center; 19% Theme/Festival Center; 6% Single Tenant; 4% Retail Storefront; 3% Regional Center; 2% Others; 2% CRE Retail - Detail As of September 30, 2026 Weighted Average LTV: 59%
22 New York; 5% Texas; 16% Florida; 61% Other; 18% 20% 39% 32% 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 represents 23 loans totaling $388 million, or 96% of total CRE office with avg. debt-service coverage (DSCR) (3) 1.6x and LTV 57% ◦ Florida: 16 loans totaling $240 million (48% Miami-Dade, 36% Broward, 6% Palm Beach, and 10% Duval) with avg. DSCR 1.7x and LTV 56% ◦ New York: 1 loan totaling $18 million (Westchester) with avg. DSCR 1.8x and LTV 51% ◦ Texas: 4 loans totaling $61 million, 2 in Dallas and 1 in Houston, with avg. DSCR 1.2x and LTV 54% ◦ Other: 2 loans totaling $69 million, 1 in Memphis, TN and 1 in Atlanta, GA with avg. DSCR 1.2x and LTV 66% ◦ 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: $388 million Loan Portfolio Percentage: 5.6% CRE Office - Detail As of September 30, 2026 Weighted Average LTV: 57%
23 $7,895 $7,854 $7,787 $8,246 $5,430 $5,278 $5,168 $5,034 $2,465 $2,576 $2,619 $3,212 Domestic Deposits International Deposits 2023 2024 2025 3Q26 ($ in millions) 39% of Total Deposits Avg. account balance(2): $56,000 3Q26 New Deposit Accs: ~ 1,200 61% of Total Deposits Avg. account balance (2): $119,000 3Q26 New Deposit Accs: ~ 1,250 Domestic and International Deposit Details (1) (1) Geography is based on the country of domicile of deposit customers. (2) Average deposit account balances calculated as of September 30, 2026.
24 <1 year; 62% 1-3 years; 2% 4-5 years; 1% 5+ years; 35% 348 350 352 354 355 356 355 -200 bps -100 bps -50 bps BASE +50 bps +100 bps +200 bps 0 200 400 As of September 30, 2026 Fixed 42% Adjustable 58% 24 By Interest TypeBy Rate Type By Repricing Term (1) NII and percentage change represent the base scenario of net interest income. The base scenario assumes (i) flat interest rates over the next 12 months, (ii) that total financial instrument balances are kept constant over time and (iii) that interest rate shocks are instant and parallel to the yield curve (2) Totals may not sum due to rounding Loan Portfolio Details Impact on NII from Interest Rate Change (1)(2) AFSChange from base ($ in M ill io n s) Fixed 42% UST 1% Prime 13% SOFR 44% As of September 30, 2026 Impact on AFS from Interest Rate Change (1) (1.6)% (1.0)% 0% 0.6%0.3%(0.4)% 0.3% No Floor; 58% 0.5-2%; 4% 2-3.5%; 12% 3.5-5%; 5% 5-6.75%; 21% By Floors 2,383 2,288 2,228 2,166 2,103 2,038 1,911 -200 bps -100 bps -50 bps MV +50 bps +100 bps +200 bps ($ in M ill io n s) 10.0% 5.6% 2.9% 0% (2.9)% (5.9)% (11.8)% Expected pre-tax AOCL Improvement Change from MVNet Interest Income (158,655) (126,024) 3Q26 3Q27 (estimated) (200,000) (100,000) — approx. 21% improvement in AOCL Interest Rate Sensitivity
25 $17.3 $22.0 $17.4 $18.2 $18.3 $5.1 $4.9 $4.9 $5.4 $6.2 $5.0 $5.3 $5.5 $5.6 $5.7 $1.2 $2.1 $0.5 $0.4 $5.0 $8.4 $5.0 $5.6 $5.9 $2.4 $1.4 $1.5 $1.2 $0.5 3Q25 4Q25 1Q26 2Q26 3Q26 -10 0 10 20 30 28% 72% 19% 81% Noninterest Income Mix Deposits and service fees Brokerage, advisory and fiduciary activities Other noninterest income (1) DomesticInternational 3Q25 $3.4B ($ in millions) Securities gains, net Loan-level derivative income Derivative losses, net Noninterest Income Mix $3.2B Assets Under Management and Custody 3Q26 $(0.2) (1) Other noninterest income in 4Q25 includes $3.3 million gain on the sale and leaseback of two banking centers. $(1.4) $(0.1)$(0.1)
26 $71.6 $74.4 $77.8 $106.8 $66.9 $68.9 $69.1 $33.3 $36.0 $35.1 $38.8 $32.0 $35.4 $36.8 $38.3 $38.4 $42.7 $68.0 $34.9 $33.5 $32.3 726 692 704 694 699 704 687 Salaries and employee benefits Other operating expenses FTEs 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 0 30 60 90 120 ($ in millions, except for FTEs) Noninterest Expense Noninterest Expense Mix (1) Other operating expenses include $14.8 million in losses on loans held for sale carried at the lower of cost or fair value, $7.5 million in contract termination costs, $3.8 million in staff separation costs and $3.1 in other noninterest expenses. (1)
27 Change in Diluted Earnings Per Common Share $0.53 $0.20 $(0.04) $(0.04) $0.65 2Q26 PPNR Income Tax Expense Provision for Credit Losses and Other 3Q26 $(0.20) $— $0.20 $0.40 $0.60 $0.80 EPS Trend (1) Non-GAAP Financial Measure. See Appendix 1 for a reconciliation to GAAP. (1)
Appendices
29 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 certain items, including the provision for credit losses, income taxes and goodwill and other intangible assets. The Company believes these adjusted numbers are useful to understand the Company’s performance and underlying trends. Three Months Ended, (in thousands) September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 Net income attributable to Amerant Bancorp Inc. $ 25,716 $ 21,043 $ 17,873 $ 2,701 $ 14,756 Plus: provision for credit losses (1) 6,200 4,750 7,800 3,490 14,600 Plus: provision for income tax expense (benefit) 7,789 6,067 5,070 (794) 4,252 Pre-tax pre-provision net revenue (PPNR) 39,705 31,860 30,743 5,397 33,608 (in thousands, except percentages, share data and per share amounts) September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 Stockholders' equity $ 840,817 $ 914,369 $ 913,918 $ 938,802 $ 944,940 Less: goodwill and other intangibles (2) (21,389) (21,522) (22,933) (23,103) (23,784) Tangible common stockholders' equity $ 819,428 $ 892,847 $ 890,985 $ 915,699 $ 921,156 Total assets 10,211,645 10,294,247 9,903,514 9,777,018 10,410,199 Less: goodwill and other intangibles (2) (21,389) (21,522) (22,933) (23,103) (23,784) Tangible assets $ 10,190,256 $ 10,272,725 $ 9,880,581 $ 9,753,915 $ 10,386,415 Common shares outstanding 39,127,237 39,186,293 39,803,607 40,595,273 41,265,378 Tangible common equity ratio 8.04 % 8.69 % 9.02 % 9.39 % 8.87 % Stockholders' book value per common share $ 21.49 $ 23.33 $ 22.96 $ 23.13 $ 22.90 Tangible stockholders' equity book value per common share $ 20.94 $ 22.78 $ 22.38 $ 22.56 $ 22.32 (1) Includes provision for credit losses on loans and provision for loan contingencies. (2) As of September 30, 2026 and June 30, 2026, other intangible assets primarily consist of naming rights. In prior periods, also includes mortgage servicing rights (“MSRs”). Other intangible assets are included in other assets in the Company’s consolidated balance sheets.
30 Income Statement Highlights - 3Q26 vs 2Q26 ($ in thousands) 3Q26 2Q26 Change Total Interest Income Loans $ 109,086 $ 103,449 $ 5,637 Investment securities 29,861 29,212 649 Interest earning deposits with banks and other interest income 2,455 3,000 (545) Total Interest Expense Interest bearing demand, savings and money market deposits 26,548 27,154 (606) Time deposits 16,834 17,682 (848) Advances from FHLB 6,098 6,935 (837) Senior notes 147 — 147 Subordinated notes 361 362 (1) Junior subordinated debentures 950 952 (2) Securities sold under agreements to repurchase — 1 (1) Total Provision for Credit Losses 6,200 4,750 1,450 Total Noninterest Income 18,339 18,162 177 Total Noninterest Expense 69,098 68,877 221 Income Tax Expense 7,789 6,067 1,722 Net Income Attributable to Amerant Bancorp Inc. $ 25,716 $ 21,043 $ 4,673
31 • ACL - Allowance for Credit Losses • AFS - Available for Sale • AOCL - Accumulated Other Comprehensive Loss • AUM - Assets Under Management • CET1 - Common Equity Tier 1 capital ratio • CRE - Commercial Real Estate • Customer CDs - Customer certificates of deposits • DSCR - Debt Service Coverage Ratio • EPS – Earnings per Share • FHLB - Federal Home Loan Bank • FTE - Full Time Equivalent Employees • LTV - Loan-to-Value Ratio Glossary • MBS - Mortgage-Backed Security • MV - Market Value • NCO - Net Charge-Offs • NII - Net Interest Income • NIM – Net Interest Margin • NPA - Non-Performing Assets • NPL - Non-Performing Loans • PPNR - Pre-tax Pre-provision Net Revenue • ROA - Return on Assets • ROE - Return on Equity • TCE ratio – Tangible Common Equity ratio • TBV - Tangible Book Value
32Glossary (cont'd) • 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. • Classified loans: consist of loans that have been adversely classified due to credit risk and are categorized as substandard and doubtful. • Core deposits: consist of total deposits excluding all 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 • Cost of Total Deposits: calculated based upon the average balance of total noninterest bearing and interest bearing deposits, which includes time deposits. • In the first quarter of 2026, the Company early adopted ASU 2025‑08, which expands the use of the gross‑up approach for certain purchased loans and eliminates Day 1 credit loss expense. As a result, in the third, second and first quarters of 2026, the Company recorded an allowance for credit losses of $2.5 million, $1.9 million and $0.5 million, respectively, on approximately $190.6 million, $149.5 million and $36.8 million of acquired loans, respectively, with no Day 1 impact to earnings. • 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 • Net Charge-Offs: charge-offs net of recoveries • 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 • 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 • Non-performing loans include accruing loans past due by 90 days or more and all nonaccrual loans. • Quarterly beta (as shown in NII & NIM Slide): calculated based upon the change of the cost of deposits over the change of federal funds rate (if any) during the quarter. • ROA: calculated based upon the average daily balance of total assets • ROE: calculated based upon the average daily balance of stockholders' equity • Total gross loans: consists of the principal balance of outstanding loans, including loans held for investment, loans held for sale at the lower of cost or fair value, and mortgage loans held for sale, net of unamortized deferred nonrefundable loan origination fees and loan origination costs, unamortized premiums paid on purchased loans and the unamortized balance of initial allowance for credit losses on purchased seasoned loans. • Totals may not sum due to rounding of line items.
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CONTACTS: | ||||||||
Investors | ||||||||
Laura Rossi | ||||||||
InvestorRelations@amerantbank.com | ||||||||
(305) 460-8728 | ||||||||
Media | ||||||||
Alexis Dominguez | ||||||||
MediaRelations@amerantbank.com | ||||||||
(305) 441-8412 | ||||||||
AMERANT BANCORP INC. DECLARES DIVIDEND
CORAL GABLES, FLORIDA, October 22, 2026. Amerant Bancorp Inc. (NYSE: AMTB) (the “Company” or “Amerant”) today announced that, on October 21, 2026, the Company’s Board of Directors declared a cash dividend of $0.09 per-share of Amerant common stock. The dividend is payable on November 27, 2026, to shareholders of record at the close of business on November 13, 2026.
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 subsidiary, Amerant Investments, Inc. The Company provides individuals and businesses with deposit, credit and wealth management services. The Bank, which has operated for over 45 years, is headquartered in Florida and operates 23 banking centers – 21 in South Florida and 2 in Tampa, FL. For more information, visit investor.amerantbank.com
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