Overview

• US regional bank's Q2 net income and EPS rose from prior quarter

• Company grew core deposits 9.4% and reduced classified loans via loan sales

• Amerant repurchased 690,000 shares for $16.1 mln and kept dividend at $0.09 per share

Outlook

• Company did not provide specific guidance for the current quarter or full year

Result Drivers

• CORE DEPOSIT GROWTH - Co said core deposits rose 9.4% from prior qtr, driven by growth in non-interest bearing deposits

• CREDIT QUALITY IMPROVEMENT - Co said classified loans and special mention loans declined, primarily due to loan sales and payoffs

• EXPENSE MANAGEMENT - Co said disciplined expense management contributed to improved profitability

Company press release: ID:nBwb6L6Zpa

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q2 EPS		$0.53
Q2 Net Income		$21.04 mln
Q2 Net Interest Income		$82.58 mln
Q2 Dividend		$0.09

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy"

• Wall Street's median 12-month price target for Amerant Bancorp Inc is $27.00, about 6.1% above its July 22 closing price of $25.45

• The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 10 three months ago

Reuters Recommended Reads

• July 23 - United Bancorp Q2 net interest income rises, partly by deposit growth

• July 23 - Huntington CEO says bank made effort to attract deposits, prepare for loan growth in second half

• July 23 - Dime Community Bancshares Q2 revenue hits record on loan growth

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