Amerant Bancorp Inc
For the period ended Dec 31, 2024. Filed Mar 5, 2025.
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FY2024 · Filed Mar 5, 2025
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Item 9B. Other Information
Securities Trading Plans of Directors and Executive Officers
During the quarter ended December 31, 2024, none of our directors or executive officers adopted orterminated a Rule 10b5-1 trading plan or a non-Rule 10b5-1 trading arrangement (as defined in Item 408(c) of Regulation S-K).
Updates to Certain Financial Data Set Forth in Earning Release Documents dated January 22 and 23, 2025
In connection with the filing of this Annual Report on Form 10-K for the period ended December 31, 2024 (the Form 10-K”), the Company’s consolidated financial statements included herein (the “Financial Statements”) were finalized, and certain financial data included in the Form 10-K and the Financial Statements differ from and supersede certain financial data included in the press release and the earnings slide presentation of Amerant Bancorp Inc. dated January 22 and 23, 2025 , respectively. These corrections had no effect on the consolidated statements of operations or earnings per share for the three-months and twelve-months periods ended December 31, 2024.
The following table reconciles the financial data:
| Before · After · Increase (decrease) | |||||||
|---|---|---|---|---|---|---|---|
| Amount · % | |||||||
| Financial Data | |||||||
| (in thousands, except %) | |||||||
| Total assets | $9,897,691 | $9,901,734 | $4,043 | —% | |||
| Noninterest bearing deposits | 1,504,229 | 1,504,755 | 526 | —% | |||
| Total deposits | 7,854,069 | 7,854,595 | 526 | —% | |||
| Accounts payable, accrued liabilities and other liabilities | 148,439 | 151,956 | 3,517 | 2.4% | |||
| Total liabilities | 9,007,224 | 9,011,267 | 4,043 | —% | |||
| Total liabilities and stockholders' equity | 9,897,691 | 9,901,734 | 4,043 | —% | |||
| Total tangible assets | 9,873,377 | 9,877,420 | 4,043 | —% | |||
| Land development and construction loans | 495,208 | 483,210 | (11,998) | (2.4)% | |||
| Total commercial real estate | 2,509,910 | 2,497,912 | (11,998) | (0.5)% | |||
| Single-family residential | 1,516,082 | 1,528,080 | 11,998 | 0.8% | |||
| Commercial loans | 1,747,859 | 1,751,902 | 4,043 | 0.2% | |||
| Loans held for investment, gross | 7,224,368 | 7,228,411 | 4,043 | 0.1% | |||
| Owner occupied Substandard Loans (1) | 24,097 | 64,876 | 40,779 | 169.2% | |||
| Total Owner occupied Criticized Loans (1) | 29,144 | 69,923 | 40,779 | 139.9% | |||
| Total real estate Substandard Loans (1) | 59,084 | 99,863 | 40,779 | 69.0% | |||
| Total real estate Criticized Loans (1) | 64,492 | 105,271 | 40,779 | 63.2% | |||
| Total Substandard loans (1) | 125,697 | 166,476 | 40,779 | 32.4% | |||
| Total Classified Loans (1) | 131,105 | 171,884 | 40,779 | 31.1% | |||
| Domestic Deposits | 5,277,763 | 5,278,289 | 526 | —% | |||
| Quarter-over-Quarter (4Q24 vs 3Q24) | |||||||
| (in millions, except %) | |||||||
| Change in Total assets | $(455.4) | $(451.4) | 4.0 | (0.9)% | |||
| Change in Total loans, gross | (294.7) | (290.7) | 4.0 | (1.4)% | |||
| Year-over-Year (4Q24 vs 4Q23) | |||||||
| (in millions, except %) | |||||||
| Change in Total assets | $181.4 | $185.4 | 4.0 | 2.2% | |||
| Change in Total loans, gross | 2.4 | 6.4 | 4.0 | 166.7% | |||
(1) In February 2025, upon receipt of updated financial information from the borrower, the Company concluded to downgrade effective December 31, 2024 an owner-occupied loan of $40.8 million in the restaurant industry from 'Pass' to 'Substandard'. In February 2025, the Company transferred the loan from loans held for investment to loans held for sale.
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