Amerant Bancorp Inc. (AMTB) Cash Flow Statement

The $25.7 million of net income reported for 2026Q3 arrived alongside a $6.2 million provision charge with operating cash flow not disclosed for the quarter, leaving the period's internal liquidity unverifiable from this statement. Cumulative retention of roughly $95.8 million against about $28.6 million of dividends paid suggests distributions are comfortably covered, but a 5.7% ROE implies internal capital accretion may be slow relative to the risk-weighted growth of a CRE-heavy book.

2024Q4 shows $493.4 million of purchases against $465.1 million of sales, effectively neutral reinvestment, while 2025Q1 through 2025Q3 recorded net outflows of $248.5 million, $203.2 million and $307.9 million, meaning the portfolio consumed liquidity rather than supplying it during that stretch. Because the gross purchase and sale lines for 2026Q1 and 2026Q2 are exact sign reversals, net securities activity for the first half of 2026 may be materially smaller than headline figures imply, and duration positioning cannot be inferred confidently.

Quarterly dividends of $3.7-3.9 million appear easily covered by cumulative net income of $95.8 million over the series, so the distribution itself does not look encumbered. Buybacks, by contrast, appear to have accelerated from $1.4 million in 2024Q3 to $18.7 million in 2026Q1 before an equal positive entry in 2026Q2, and funding that acceleration in quarters with thin or negative operating cash flow may indicate a preference for capital return over balance sheet buffer.

Netted as presented, the ten-quarter provision column sums to $56.3 million, but the series mixes charges, a release and a sign flip, so it cannot be read as a clean expense trend. The $48.3 million swing from release to charge between 2026Q2 and 2026Q3 means the prior quarter's earnings and cash optics were flattered by reserve action rather than core performance, and the return to a $6.2 million charge may signal a renewed build that investors should monitor.