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

• It's a regional Bank of America focused on Florida and Texas.
• Think of it as a smaller JPMorgan Chase, serving individuals and businesses primarily in Florida and Texas.

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Amerant Bancorp (AMTB) offers the following major products and services:

• Deposit Accounts: Provides various types of accounts including checking, savings, money market, and certificates of deposit for individuals and businesses.
• Commercial Lending: Offers a range of commercial loans such as real estate, working capital, asset-based, and Small Business Administration (SBA) loans.
• Residential & Consumer Lending: Delivers loans secured by personal residences, automobile loans, personal loans, and revolving credit card agreements.
• Wealth Management & Fiduciary Services: Provides trust and estate planning, brokerage, and investment advisory services, catering primarily to high-net-worth customers.
• Payment & Treasury Management Services: Facilitates transactions and financial operations through debit/credit cards, wire transfers, remote deposit capture, and automated clearinghouse (ACH) services.
• Digital Banking Platforms: Offers online and mobile banking solutions for account management, transfers, bill payment, and electronic delivery of statements and documents.

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Major Customers of Amerant Bancorp (AMTB)

Based on the provided company description, Amerant Bancorp Inc. serves a diverse customer base. As the company does not identify specific major corporate clients, its customer base can be described through the following categories:

• Individuals: This category includes general customers who utilize Amerant Bank's services for checking, savings, and money market accounts, certificates of deposits, residential mortgages, consumer loans (such as automobile, personal, or secured by cash/securities), and revolving credit card agreements.
• High-Net-Worth Individuals: A specialized segment of individuals who are customers for the company's trust and estate planning products and services, brokerage and investment advisory services in global capital markets, and wealth management and fiduciary services.
• Businesses and Financial Institutions: This broad category encompasses a range of entities including small and medium-sized businesses, commercial real estate developers and investors (for variable and fixed-rate commercial real estate loans), companies requiring working capital loans, asset-based lending, and Small Business Administration (SBA) loans. This category also includes other financial institutions that receive loans and acceptances from Amerant Bancorp. These customers utilize a variety of business banking products, including treasury management services.

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• ACI Worldwide (ACIW)
• Fiserv (FI)
• Visa (V)
• Mastercard (MA)

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• Appointed Interim CEO in November 2025.
• Previously served as Senior Executive Vice President and Chief Operating Officer (COO) at Amerant since June 2023.
• Prior to his COO role, he was the Chief Financial Officer (CFO) from May 2020.
• Joined Amerant in 2004 and held various management positions in the Treasury area, including Senior Vice President and Treasury Manager since 2015.
• During his tenure as COO, he led the bank's core conversion, managed the sale of the company's Houston franchise, and streamlined operations.
• Chairs the Board of Amerant Investments and is a member of the Board of Amerant Mortgage.
• Before Amerant, he held senior roles in Market Risk at Mercantil Banco (Mercantil Servicios Financieros - MSF) from 2000 to 2004, having joined MSF in April 1998.

• Appointed Senior Executive Vice President, Chief Financial Officer (CFO) in June 2023 and Senior Executive Vice President in November 2024.
• Responsible for Amerant's financial management, including treasury, financial reporting and accounting, investor relations, and corporate tax.
• Chairs the Asset-Liability Committee.
• Prior to becoming CFO, she was Senior Vice President, Head of Internal Audit at Amerant since June 2021, where she oversaw the implementation of the company's audit plan and risk assessments.
• Before Amerant, she served as Senior Vice President, Head of Payment Operations at Ocean Bank.
• She also worked at PricewaterhouseCoopers for nine years, progressing from Associate to Senior Manager, gaining extensive experience in financial services.
• Ms. Calderón is a licensed CPA in Florida and Puerto Rico.

• Stepped down as Chairman and CEO in November 2025, a role he held after being appointed CEO in March 2021 and Chairman in June 2022.
• Prior to his CEO role at Amerant, he was a member of its board and a partner in the private equity firm Patriot Financial Partners L.P.
• His extensive finance industry career, spanning over 30 years, includes leadership positions such as CEO of Verdigris Holdings, Chief Financial Officer and Chief Administrative Officer of Santander U.S., and President of Webster Bank.
• He possesses broad experience on public and private company boards.

• Appointed Executive Vice President, Interim Chief Operating Officer (COO) effective November 10, 2025.
• Oversees core operating functions including loan and credit operations, deposit and payment operations, information technology, and digital innovation.
• Joined Amerant in 2017 and has held various management roles in finance and operations, including Executive Vice President and Head of Loan Operations since 2022.
• Played a key role in the sale of the Houston franchise in 2024, the transition to a new core banking platform in 2023, and the company's initial public offering in 2018.
• Before Amerant, he was a Vice President in finance at Sabadell United Bank for five years.
• He also has five years of experience in public accounting, focusing on audits of financial institutions.

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The key risks to Amerant Bancorp's (AMTB) business include a significant concentration in commercial real estate (CRE) loans, sensitivity to interest rate fluctuations and rising deposit costs, and ongoing liquidity risks related to its funding structure.

1. Commercial Real Estate (CRE) Loan Concentration: Amerant Bancorp faces a primary and quantifiable threat from its substantial exposure to Commercial Real Estate (CRE) loans, particularly in a high-interest-rate environment. This concentration increases the company's vulnerability to market downturns, potentially leading to higher loan losses. For instance, in the third quarter of 2025, the company's Non-Performing Assets (NPA) saw a significant quarter-over-quarter increase of 42.9%, directly attributed to issues within its CRE portfolio. Management acknowledges the need to actively manage this concentration to mitigate potential risks.
2. Interest Rate Risk and Rising Deposit Costs: Changes in interest rates significantly impact Amerant Bancorp's profitability and net interest income. Rising interest rates can adversely affect net interest income and asset values, while declining rates could accelerate loan prepayments, impacting profitability. The company has experienced margin pressure due to sharply increasing deposit costs, which can compress its Net Interest Margin (NIM) as it competes for deposits. This challenge in maintaining income levels amidst fluctuating market conditions led to a decline in net interest income in a recent quarter.
3. Liquidity Risk and Funding Structure: Amerant Bancorp also faces liquidity risks stemming from its reliance on various funding sources, including brokered deposits and wholesale funding, which can lead to increased interest rate expenses. The competitive deposit market further challenges the bank's ability to maintain a robust core deposit base. While the company has made strategic efforts to grow core deposits, a planned reduction in higher-cost brokered deposits has kept total deposits flat, potentially leaving the bank vulnerable if deposit runoff were to accelerate.

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Addressable Markets for Amerant Bancorp's Main Products and Services:

• U.S. Retail Banking Market: This market, which encompasses products such as checking, savings, money market accounts, debit and credit cards, and online and mobile banking, is projected to reach a revenue of approximately $678.3 billion by 2033, growing from $454.3 billion in 2024. Another estimate indicates the U.S. retail banking market size is forecast to increase by $92.1 billion at a CAGR of 4.2% between 2024 and 2029.
• U.S. Commercial Banking Market: The U.S. commercial banking market is estimated at $765.53 billion in 2026 and is projected to reach $954.48 billion by 2031. It was estimated at $226.44 billion in 2024 and is expected to reach $269.28 billion by 2029. Treasury Management services are a leading growth area within this market, with a projected CAGR of 6.58% through 2031.
• U.S. Commercial Real Estate (CRE) Lending Market: The CRE mortgage market for income-producing properties in the U.S. is approximately $4.5 trillion, with an additional $467 billion in construction loans. Total commercial real estate mortgage borrowing and lending in the U.S. was estimated at $498 billion in 2024. U.S. commercial real estate lending surged at the end of 2025, with originations climbing 40% from 2024 levels.
• Florida Real Estate Lending Market: The market size of the Real Estate Loans & Collateralized Debt industry in Florida is projected to be $17.7 billion in 2026. New home loans booked in Florida totaled $87.1 billion in 2024.
• Texas Commercial Real Estate (CRE) Market: CRE in Texas contributed $185 billion to the state's economy in 2023. Direct spending on CRE in Texas exceeded $71.7 billion in 2023 across sectors such as office, industrial, warehouse, and retail. Dallas-Fort Worth alone led the country with $13.2 billion in commercial real estate investment in the first nine months of 2023.
• U.S. Consumer Lending Market: Total U.S. consumer credit (excluding real estate) increased by $8.05 billion in January 2026. In December 2025, total U.S. consumer credit rose by $24.05 billion. Outstanding balances on general-purpose credit cards in the U.S. reached $1.071 trillion at the end of 2022.
• Texas Consumer Lending Market: Lenders in Texas booked $9.2 billion in new consumer loan dollars in 2023. Texans carried an estimated $28-$30 billion in unsecured personal loan debt by early 2025.
• Florida Consumer and Small Business Lending: Small business loans in Florida amounted to $52.9 billion.
• U.S. Wealth Management Market: The U.S. wealth management market is extraordinarily vast, with robo-advisors managing over $1 trillion in assets as of 2025, a figure that could approach $2 trillion within the next couple of years. North America's wealth management platform market was valued at $1.26 billion in 2025 and $1.4 billion in 2026. The global wealth management platform market size was recorded at $4.82 billion in 2023 and is expected to reach $15.8 billion by 2032.

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Amerant Bancorp (AMTB) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market opportunities:

1. Loan and Deposit Growth: Amerant Bancorp anticipates robust growth in its core lending and deposit-gathering activities. The company projects an annualized loan growth of 7-9% for 2026, with a corresponding expectation for deposit growth to match this expansion. This organic growth in its primary banking services will directly contribute to increased net interest income.
2. Strategic Expansion of Banking Center Network in Florida: The company is actively expanding its physical presence in key Florida markets. Recent and planned new banking centers include locations in Broward County, such as Fort Lauderdale and Plantation, as well as Miami Beach, West Palm Beach, Downtown Tampa, and St. Petersburg. This strategic geographical expansion is aimed at broadening its customer base and strengthening relationships in growing urban centers.
3. Growth in Wealth Management and Fiduciary Services: Amerant Bancorp focuses on providing trust and estate planning products and services to high-net-worth clients. Wealth management and private banking activities have demonstrated mid-single-digit growth in recent years, and the company views this as a significant opportunity to increase its fee income.
4. Enhanced Operational Efficiency and Client Profitability: As part of its 2026-2028 Strategic Plan, Amerant Bancorp is committed to enhancing operational efficiency and improving client profitability. While not a direct revenue stream, these improvements are expected to optimize resource allocation, reduce costs, and ultimately bolster net revenue and overall profitability from its banking operations. The company is also focusing on digital enablement.
5. Leveraging International Market Opportunities: Amerant Bancorp maintains a substantial deposit and customer base in Venezuela, totaling nearly $2 billion in deposits and close to 50,000 customers. Management is optimistic about potential new business growth stemming from anticipated changes in U.S. oil extraction policy, which could unlock further opportunities in these international markets.

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Share Repurchases

• Amerant Bancorp completed a share repurchase program in 2025, under which it repurchased 2,320,263 shares for approximately $45.49 million, with $13 million of repurchases occurring in Q4 2025.
• The company authorized a new share repurchase program of up to $40 million of its Class A common stock, effective through December 31, 2026.
• In January 2025, the company initiated stock buybacks under a $12.4 million Class A common stock repurchase program, which concluded by June 2025.

Share Issuance

• In September 2024, Amerant Bancorp completed a public offering of 8.68 million shares of its Class A common stock at $19 per share, generating approximately $165 million in gross proceeds, with net proceeds of $156.7 million intended to support corporate growth.
• The company issued common shares for restricted stock unit vesting in Q3 2025.

Outbound Investments

• Amerant Bancorp redeemed $60 million of 5.75% senior notes that were originally scheduled to mature in June 2025.
• In November 2024, Amerant Bank, N.A. sold its banking operations and six branches in Houston, Texas, to MidFirst Bank, involving approximately $568 million of deposits and $474 million in loans.
• The company is winding down Amerant Mortgage to focus on in-footprint mortgage lending and is dissolving its Cayman bank subsidiary, transferring relationships to its U.S. platform, with completion expected in the first half of 2026.

Capital Expenditures

• Amerant Bancorp is investing in technology, risk management, and human capital to prepare for potential regulatory changes as its assets approach the $10 billion threshold.
• The company's 2026-2028 Strategic Plan includes plans to continue expanding its banking center network and focusing on digital enablement to transform credit and enhance operational efficiency.
• Ongoing efficiency initiatives are projected to achieve $2 million to $3 million in quarterly cost savings starting in 2026.