Amerant Bancorp reports Q1 EPS 31c, consensus 36c

Net interest margin was 3.51% in 1Q24 compared to 3.72% in 4Q23, which included 16 basis points from a loan recovery received in the previous period. “We continued to invest in our future in the first quarter of 2024, opening new locations in Tampa and Ft. Lauderdale, while adding 12 new team members to our already talented business development teams across south Florida,” stated Jerry Plush, Chairman and CEO. “In addition to our recently announced sale of our Houston franchise, we also executed on our strategic initiatives, resulting in strong organic loan and deposit growth.”