Here are 1-2 brief analogies for Amerant Bancorp (AMTB):

• Like a smaller, regional version of Bank of America focused on the South Florida and Houston markets.
• The PNC Financial Services for South Florida and Houston.

• Deposit Accounts: Provides various checking, savings, money market, and certificate of deposit accounts for individuals and businesses to manage their funds.
• Lending Services: Offers a range of loans including residential mortgages, commercial real estate loans, commercial and industrial loans, lines of credit, and consumer loans.
• Treasury Management: Provides cash management solutions for businesses, such as payment processing, fraud protection, and liquidity management.
• Wealth Management: Offers advisory and investment services to individuals and businesses to help manage and grow their financial assets.
• International Banking Services: Provides specialized banking and lending services tailored for international clients and non-resident individuals and businesses.

Amerant Bancorp (AMTB) is a bank holding company that, through its subsidiary Amerant Bank, N.A., provides a wide range of financial products and services. As a bank, it serves a diverse customer base rather than having a few major customer companies in the traditional sense. Its primary customers are individuals and businesses.

The company serves the following categories of customers:

• Commercial Clients: This category includes small to medium-sized businesses (SMBs) and corporate clients. Amerant provides them with a range of financial services, including commercial loans (such as commercial real estate and commercial & industrial loans), treasury management services, business checking and savings accounts, and other solutions tailored for businesses.
• Retail Clients: This category encompasses individuals and families. Amerant offers a variety of personal banking products, including checking and savings accounts, money market accounts, certificates of deposit (CDs), residential mortgages, home equity lines of credit (HELOCs), and other consumer loans.
• Wealth Management/Private Banking Clients: Amerant serves high-net-worth individuals, families, and institutions that require specialized financial planning, investment management, trust services, and private banking solutions.

• Temenos AG (TEMN)
• Nymbus

Carlos Iafigliola, Interim Chief Executive Officer

Carlos Iafigliola was appointed Interim Chief Executive Officer of Amerant Bancorp Inc. on November 5, 2025. He previously served as Senior Executive Vice President and Chief Operating Officer (COO) since June 2023. In his role as COO, he was responsible for Amerant’s loan and deposit operations, project management, technology services, facilities, and digital. Iafigliola joined Amerant in 2004 and has held various positions of increasing responsibility, including Chief Financial Officer in 2020, Asset & Liability Manager, and Treasury Manager. During his tenure as COO, he led the bank's core conversion, managed the sale of the company's Houston franchise, and spearheaded operational streamlining efforts. He started his career as a Market Risk Analyst at Mercantil Servicios Financieros, Amerant's holding company prior to its IPO.

Sharymar Calderón, Senior Executive Vice President, Chief Financial Officer

Sharymar Calderón was appointed Senior Executive Vice President, Chief Financial Officer (CFO) in June 2023, and Senior Executive Vice President in November 2024. She is responsible for Amerant’s financial management, including treasury, financial reporting and accounting, financial planning and analysis, investor relations, strategy, internal controls over financial reporting, procurement, and corporate tax.

Mariola Sanchez, Senior Executive Vice President, Chief Administrative Officer

Mariola Sanchez was appointed Senior Executive Vice President, Chief Administrative Officer in April 2025. She leads Amerant Bank's approach to people and organizational culture, and also oversees corporate communications, community relations, sustainability, and legal. Prior to this role, she served as Amerant's Chief People Officer and previously as the company's General Counsel since 2010. She has over 25 years of experience practicing law, primarily as in-house counsel for financial institutions.

Alberto Capriles, Senior Executive Vice President, Chief Risk Officer

Alberto Capriles was appointed Senior Executive Vice President in January 2023 and named Chief Risk Officer in February 2018.

Braden R. Smith, Senior Executive Vice President, Chief Consumer Banking Officer

Braden R. Smith is the Senior Executive Vice President and Chief Consumer Banking Officer at Amerant Bank. In this role, he oversees the Private Client Group, Wealth Management, Small Business Banking, Retail Banking, and Marketing. He is also responsible for leading strategic growth initiatives, evaluating new business opportunities, and fostering partnerships. Smith previously served as Vice Chairman at an unspecified entity.

Geographical Risks

Operating predominantly in South Florida and the greater Tampa area, Amerant Bancorp is highly susceptible to the impacts of severe weather events, such as hurricanes and tropical storms. These events can lead to significant disruptions in business operations, destabilize the deposit base, and impair the ability of borrowers to repay their loans, thereby affecting the company's financial stability.

Commercial Real Estate (CRE) Loan Concentration Risks

A substantial portion of Amerant Bancorp's loan portfolio is concentrated in commercial real estate. This concentration exposes the company to considerable risk, as economic downturns or adverse changes in the real estate market could result in increased loan losses and negatively impact its financial condition.

Interest Rate Risks

Amerant Bancorp's profitability is sensitive to fluctuations in interest rates. Changes in interest rates directly influence the company's net interest income, which is a primary driver of earnings, as well as affecting the valuation of its assets and liabilities.

Addressable Markets for Amerant Bancorp (AMTB) Main Products and Services

Amerant Bancorp (AMTB) primarily operates in Florida, with a significant presence in South Florida (Miami-Dade, Broward, and Palm Beach Counties) and Tampa. The company focuses on providing deposit, credit, and wealth management services to individuals and businesses.

Commercial Real Estate Lending

Amerant Bank has an office in Tampa specializing in commercial real estate lending. The commercial real estate market in South Florida (Miami-Dade, Broward, and Palm Beach Counties) recorded a sales volume of $12.5 billion in 2024. Specifically, Miami-Dade County saw $6.2 billion, Broward County experienced a 54% increase, and Palm Beach County registered a 44% increase in sales volume in 2024, reaching $2.6 billion. In the first three months of 2025, commercial real estate deals closed in South Florida amounted to almost $3 billion. The Florida commercial mortgage market demonstrated a strong rebound in the second quarter of 2025.

Mortgage Lending

Amerant Bancorp's offerings include mortgage loans through its subsidiary, Amerant Mortgage. Florida represents a substantial mortgage market, ranking as the largest outside of California and accounting for approximately 9% of the national market. In 2024, roughly $143 billion in home loans were originated in Florida.

Community Banking and Wealth Management

For its community banking and wealth management services, a precise addressable market size in terms of a consolidated monetary value for its specific operating regions is not readily available from the provided information. Therefore, for these categories, the market size is null.

1. Expansion of Presence in Florida: Amerant Bancorp is actively focusing on expanding its footprint within Florida. This strategy is evidenced by the opening of new banking centers, such as the one in Downtown Tampa, which aims to increase its regional presence and attract new customers.
2. Growth in Core Deposits: The company has demonstrated consistent growth in its core deposits, a key driver for funding loan origination and other interest-earning assets. Management commentary indicates that deposit growth is expected to align with loan growth, providing a stable funding base for expansion.
3. Loan Growth: Despite some fluctuations in past quarters, Amerant Bancorp anticipates future loan growth. This will directly contribute to an increase in net interest income, a primary component of revenue for a bank.
4. Net Interest Margin (NIM) Management and Optimization: Amerant Bancorp has shown improvements in its Net Interest Margin, partly due to strategic actions like the repositioning of its securities portfolio. Continued effective management of NIM will enhance the profitability of its interest-earning assets, thereby boosting revenue.
5. Improved Operational Efficiency: Analyst forecasts suggest that Amerant Bancorp's earnings growth is projected to outpace its revenue growth, indicating a focus on improved operational efficiency. The company is also proactively identifying cost-saving opportunities for 2026. While directly impacting profitability, enhanced efficiency can indirectly support revenue growth by allowing for more competitive offerings and reinvestment in growth initiatives.

**Share Repurchases**

• Amerant Bancorp authorized an increase in its share repurchase program to $25 million on May 28, 2025, which is set to expire by December 31, 2025. This program could potentially retire approximately 1.4% of outstanding shares.
• During the third quarter of 2025, the company repurchased 487,657 shares for $10 million at a weighted average price of $20.51 per share and plans to utilize the remaining $13 million of the authorized program in the fourth quarter of 2025.
• The Board of Directors authorized a new share repurchase program of up to $25 million of Class A common stock, effective January 1, 2023, until December 31, 2023. Additionally, a program for up to $40 million of Class B common stock was announced on March 10, 2021.

**Share Issuance**

• On September 27, 2024, Amerant Bancorp completed a public offering of 8,684,210 shares of its Class A voting common stock at $19.00 per share, generating approximately $165 million in gross proceeds. The net proceeds, amounting to roughly $156.7 million, are intended for general corporate purposes, including supporting organic growth, working capital, addressing non-performing loans, and investments in its banking subsidiary.

**Capital Expenditures**

• Amerant Bank is expanding its physical presence, with plans to establish a five-financial center network in the Tampa market.
• The company opened its first banking center and regional office in Tampa in 2024 and anticipates opening a second banking center in downtown Tampa in the latter half of 2025.
• In Q2 2025, Amerant expanded its presence in Florida by opening new branches in Miami Beach, Downtown Tampa, and Bay Harbor Islands, aiming to enhance deposit growth potential.