Amerant Bancorp Inc. (NYSE: AMTB) (the “Company” or “Amerant”) today reported net income attributable to the Company of $21.0 million in the second quarter of 2026, or $0.53 earnings per diluted share, compared to net income of $17.9 million, or $0.44 earnings per diluted share, in the first quarter of 2026.

“We delivered a strong second quarter, with net income increasing to $21.0 million, or $0.53 per diluted share, supported by continued balance sheet growth, solid deposit generation and disciplined expense management,” said Carlos Iafigliola, President and Chief Executive Officer. “Importantly, core deposits grew 9.4% from the prior quarter, particularly in non-interest bearing deposits, and profitability improved, with ROA and ROE increasing to 0.84% and 9.23%, respectively. We also continued to make progress on credit, with classified loans declining meaningfully, while maintaining strong capital levels and returning capital to shareholders through our share repurchase activity and quarterly dividend. These results reflect the ongoing execution of our strategic priorities and the strength of our franchise.”

Below are the results for 2Q26 and their comparison to 1Q26:

• Total assets were $10.3 billion, up by $390.7 million, or 3.9%, compared to $9.9 billion.
• Total gross loans, which includes all loans held for sale, were $6.9 billion, up by $111.8 million, or 1.7%, compared to $6.8 billion.
• Cash and cash equivalents were $301.1 million, up by $112.4 million, or 59.6%, compared to $188.7 million.
• Total investments were $2.6 billion, up by $177.5 million, or 7.3%, compared to $2.4 billion.
• Total deposits were $8.4 billion, up by $416.2 million, or 5.2%, compared to $7.9 billion.
• Core deposits were $6.4 billion, up by $552.6 million, or 9.4%, compared to $5.9 billion.
• Total advances from the Federal Home Loan Bank (“FHLB”) were $702.6 million, down by $29.7 million, or 4.0%, compared to $732.3 million.
• Net Interest Margin (“NIM”) was 3.52%, compared to 3.55%.
• Average yield on loans was 6.22%, compared to 6.38%.
• Average cost of total deposits was 2.21%, compared to 2.31%.
• Loan to deposit ratio was 82.17%, compared to 85.07%.
• Asset Quality and Allowance for Credit Losses (“ACL”):
  • Total non-performing assets were $186.6 million, down by $5.0 million, or 2.6%, compared to $191.6 million. As of 2Q26, non-performing assets consist of $171.1 million in non-performing loans and $15.5 million in Other Real Estate Owned (“OREO”).
  • The ACL was $85.5 million compared to $79.2 million.
  • Classified loans were $273.1 million, down by $47.2 million, or 14.7%, compared to $320.3 million, while non-performing loans were $171.1 million, down $5.0 million, or 2.8%, compared to $176.1 million. The reduction in classified loans was primarily attributable to loan sales during the quarter. Special mention loans were $109.8 million, down $38.5 million, or 25.9%, compared to $148.2 million. The decrease was primarily driven by loan sales and payoffs during the quarter.
  • The Company has provided additional details regarding asset quality in the 2Q26 earnings presentation (https://investor.amerantbank.com).
• Assets Under Management and custody (“AUM”) totaled $3.37 billion, down by $52.8 million, or 1.5% from $3.42 billion.
• Pre-tax pre-provision net revenue (“PPNR”)⁽¹⁾ was $31.9 million, up by $1.1 million, or 3.6%, compared to PPNR of $30.7 million.
• Net Interest Income (“NII”) was $82.6 million, up by $2.3 million, or 2.9%, from $80.3 million.
• Provision for credit losses was $4.8 million, down by $3.1 million, or 39.1%, compared to $7.8 million.
• Noninterest income was $18.2 million, up by $0.8 million, or 4.5%, from $17.4 million.
• Noninterest expense was $68.9 million, up by $2.0 million, or 2.9%, from $66.9 million.
• The efficiency ratio was 68.37%, compared to 68.52%.
• Return on average assets (“ROA”) was 0.84%, compared to 0.73%.
• Return on average equity (“ROE”) was 9.23%, compared to 7.63%.
• The Company repurchased an aggregate of 690,000 shares of Class A common stock at a weighted average price of $23.29 per share, or 1.02x of Tangible Book Value ("TBV")⁽¹⁾ and 1.00x of book value per share. The aggregate purchase price for these transactions was approximately $16.1 million.
• On July 22, 2026, the Company’s Board of Directors declared a cash dividend of $0.09 per share of common stock. The dividend is payable on August 28, 2026, to shareholders of record on August 14, 2026.

Additional details on the second 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.

Second Quarter 2026 Earnings Conference Call

The Company will hold an earnings conference call on Friday, July 24, 2026, at 9:00 a.m. (Eastern Time) to discuss its second 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.

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,” “outlooks,” “modeled,” “dedicated,” “create,” and other similar words and expressions of the future.

Forward-looking statements, including those relating to our beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions, involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the Company’s actual results, performance, achievements, or financial condition to be materially different from future results, performance, achievements, or financial condition expressed or implied by such forward-looking statements. You should not rely on any forward-looking statements as predictions of future events. You should not expect us to update any forward-looking statements, except as required by law. All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, together with those risks and uncertainties described in “Risk factors” in our annual report on Form 10-K for the fiscal year ended December 31, 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 six month periods ended June 30, 2026, and 2025, and the three month periods ended March 31, 2026, December 31, 2025, and September 30, 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.

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.

Exhibit 1- Selected Financial Information

The following table sets forth selected financial information derived from our interim unaudited and annual audited consolidated financial statements.

⁽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 second and first quarter of 2026, and fourth, third and second quarters of 2025, were ($1.0 million), $1.1 million, $0.7 million, ($0.7 million) and $2.5 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 $3.6 million in the second quarter, $3.7 million in the first quarter of 2026 and fourth quarter of 2025, and $3.8 million per quarter in all other periods.

⁽⁶⁾ Operating data for the periods presented have been annualized.

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.

⁽¹⁾ Includes provision for credit losses on loans and provision for loan contingencies.

⁽²⁾ As of 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.

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.

⁽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 $51.9 million, $52.9 million and $53.9 million for the three months ended June 30, 2026, March 31, 2026, and June 30, 2025, respectively, and $52.7 million and $54.6 million in the six months ended June 30, 2026, and 2025, respectively. The tax equivalent yield for these nontaxable securities was 4.70%, 4.48%, and 4.81% for the three months ended June 30, 2026, March 31, 2026, and June 30, 2025, respectively, and 4.66% and 4.75% in the six months ended June 30, 2026, and 2025. 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.

⁽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 six months ended June 30, 2025, has been conformed accordingly for comparability.

⁽⁷⁾ See Glossary of Terms and Definitions for definitions of financial terms.

Exhibit 4- Noninterest Income

This table shows the amounts of each of the categories of noninterest income for the periods presented.

⁽¹⁾ Changes in cash surrender value of BOLI are not taxable.

⁽²⁾ In the three and six months ended June 30, 2026, includes realized gains on the sale of debt securities available for sale of $0.4 million and $0.9 million, respectively. In the three and six months ended June 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 six months ended June 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.

Exhibit 5- Noninterest Expense

This table shows the amounts of each of the categories of noninterest expense for the periods presented.