Amerant Bancorp Inc. Reports First Quarter Results and Provides Business Update Impact From COVID-19 Pandemic
Amerant Bancorp Inc. - Class B (AMTBB)
Company Research
Source: GlobeNewswire
CORAL GABLES, Fla., April 28, 2020 (GLOBE NEWSWIRE) -- Amerant Bancorp Inc. (NASDAQ: AMTB and AMTBB) (the “Company” or “Amerant”) today reported first quarter 2020 net income of $3.4 million, 74.9% lower than the $13.5 million reported in the three months ended December 31, 2019. Net income in the first quarter of 2020 was 74.1% lower than in the first quarter of 2019. Net income per diluted share was $0.08 in the first quarter of 2020, down 74.2% from $0.31 per diluted share in the fourth quarter of 2019, and down 73.3% from $0.30 per diluted share in the first quarter of 2019. Operating income was $16.7 million in the first quarter of 2020, up 12.5% from $14.8 million in the fourth quarter of 2019, and flat from $16.6 million in the same period of 2019. Annualized return on assets (“ROA”) and return on equity (“ROE”) were 0.17% and 1.61%, respectively, in the first quarter of 2020, compared to 0.68% and 6.44%, respectively, in the fourth quarter of 2019, and 0.65% and 6.87%, resp
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