NII fell 3.9% year over year to $90.5 million in 2026Q3 on a NIM stuck at 0.9%, while the efficiency ratio normalized to 63.5% from 144.5% and non-interest income rebounded to 16.9% of revenue from -73.3% in the prior quarter.
Amerant Bancorp Inc. (AMTB) annual income statement — 10-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 |
|---|
| Net Interest Income | 343.47M | 360.69M | 325.96M | 326.46M | 266.67M | 205.14M | 189.55M | 213.09M | 219.04M | 209.71M | 191.93M |
| NII Growth % | -16.33% | 10.65% | -0.16% | 22.42% | 29.99% | 8.22% | -11.05% | -2.72% | 4.45% | 9.26% | - |
| Net Interest Margin % | 3.36% | 3.69% | 3.29% | 3.36% | 2.92% | 2.69% | 2.44% | 2.67% | 2.7% | 2.49% | 2.28% |
| Interest Income | 557.26M | 597.43M | 595.59M | 548.58M | 338.78M | 247.84M | 260.55M | 312.97M | 309.36M | 273.32M | 238.83M |
| Interest Expense | 213.79M | 236.74M | 269.63M | 222.12M | 72.11M | 42.7M | 71M | 99.89M | 90.32M | 63.61M | 46.89M |
| Loan Loss Provision | -30.85M | 42.6M | 60.46M | 61.28M | 13.95M | -16.5M | 88.62M | -3.15M | 375K | -3.49M | 22.11M |
| Non-Interest Income | 4.55M | 57.82M | -20.66M | 2.44M | 48.29M | 59.91M | 73.21M | 58M | 52.99M | 71.48M | 61.56M |
| Non-Interest Income % | 1.31% | 13.82% | -6.77% | 0.74% | 15.33% | 22.6% | 27.86% | 21.39% | 19.48% | 25.42% | 24.28% |
| Total Net Revenue | 348.02M | 418.5M | 305.29M | 328.91M | 314.96M | 265.05M | 262.76M | 271.08M | 272.03M | 281.19M | 253.49M |
| Revenue Growth % | -14.39% | 37.08% | -7.18% | 4.43% | 18.83% | 0.87% | -3.07% | -0.35% | -3.26% | 10.93% | - |
| Non-Interest Expense | 293.4M | 309.76M | 268.92M | 226.3M | 222.43M | 137.53M | 178.48M | 210.2M | 214.09M | 207.64M | 197.59M |
| Efficiency Ratio | 84.31% | 74.02% | 88.08% | 68.8% | 70.62% | 51.89% | 67.92% | 77.54% | 78.7% | 73.84% | 77.95% |
| Operating Income | 85.47M | 66.14M | -24.08M | 41.33M | 78.58M | 144.02M | -4.33M | 64.03M | 57.57M | 77.05M | 33.79M |
| Operating Margin % | 24.56% | 15.8% | -7.89% | 12.57% | 24.95% | 54.34% | -1.65% | 23.62% | 21.16% | 27.4% | 13.33% |
| Operating Income Growth % | - | 374.63% | -158.28% | -47.41% | -45.44% | 3423.03% | -106.77% | 11.23% | -25.29% | 128.02% | - |
| Pretax Income | 85.47M | 66.14M | -24.08M | 41.33M | 78.58M | 144.02M | -4.33M | 64.03M | 57.57M | 77.05M | 33.79M |
| Pretax Margin % | 24.56% | 15.8% | -7.89% | 12.57% | 24.95% | 54.34% | -1.65% | 23.62% | 21.16% | 27.4% | 13.33% |
| Income Tax | 13.06M | 13.72M | -8.33M | 10.54M | 16.62M | 33.71M | -2.61M | 12.7M | 11.73M | 33.99M | 10.21M |
| Effective Tax Rate % | 15.28% | 20.75% | 34.6% | 25.5% | 21.15% | 23.41% | 60.27% | 19.83% | 20.38% | 44.12% | 30.22% |
| Net Income | 72.4M | 52.42M | -15.75M | 32.49M | 63.31M | 112.92M | -1.72M | 51.33M | 45.83M | 43.06M | 23.58M |
| Net Margin % | 20.8% | 12.52% | -5.16% | 9.88% | 20.1% | 42.6% | -0.66% | 18.94% | 16.85% | 15.31% | 9.3% |
| Net Income Growth % | 8.72% | 432.76% | -148.48% | -48.68% | -43.93% | 6657.55% | -103.35% | 12% | 6.45% | 82.61% | - |
| Net Income (Continuing) | 72.4M | 52.42M | -15.75M | 30.79M | 61.96M | 110.31M | -1.72M | 51.33M | 45.83M | 43.06M | 23.58M |
| EPS (Diluted) | 1.84 | 1.26 | -0.44 | 0.96 | 1.85 | 3.01 | -0.04 | 1.20 | 1.08 | 1.23 | 0.68 |
| EPS Growth % | 6.69% | 386.36% | -145.83% | -48.11% | -38.54% | 7388.14% | -103.44% | 11.11% | -12.2% | 80.88% | - |
| EPS (Basic) | - | 1.26 | -0.44 | 0.97 | 1.87 | 3.04 | -0.04 | 1.21 | 1.08 | 1.23 | 0.68 |
| Diluted Shares Outstanding | 39.44M | 41.1M | 35.76M | 33.67M | 34.14M | 37.53M | 41.74M | 42.94M | 42.49M | 34.92M | 34.92M |
Quick answers to the most common questions about buying AMTB stock.
For fiscal year 2025, Amerant Bancorp Inc. (AMTB) reported total revenue of $418.5M. This represents a 65.1% increase compared to $253.5M in 2016.
Amerant Bancorp Inc. (AMTB) is profitable, generating $52.4M in net income for the fiscal year ending 2025 with a net profit margin of 12.5%.
Amerant Bancorp Inc. (AMTB) reported an operating income of $66.1M, resulting in an operating profit margin of 15.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Amerant Bancorp Inc. (AMTB) generated $375.9M in gross profit for the year, representing a gross profit margin of 89.8%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Net interest income contraction amid flat NIM
Metrics are mathematically derived from official filings.
NII Contraction Deepens as Rate Cycle Turns
According to Amerant's reported figures, net interest income fell 3.9% year over year to $90.5 million in 2026Q3, marking a third consecutive quarter of decline after double-digit growth through mid-2025, and the reversal suggests loan yields may no longer be offsetting deposit funding costs.
The three-quarter run of negative NII growth (-6.5%, -8.7%, -3.9%) against double-digit expansion in 2025Q1-Q3 implies the bank has likely exhausted the benefit of asset repricing and may now be absorbing lagging deposit beta. Because Amerant's lending is concentrated in CRE and C&I, the moderation appears consistent with either competitive pressure on new loan yields or a shifting mix toward lower-yielding domestic C&I participation, which investors should confirm against average loan yields in coming disclosures.
NIM Stuck in Sub-1% Terrain
As reported in Amerant's income statement, net interest margin has held between 0.8% and 0.9% across all ten quarters shown, a range so narrow it implies asset yields and funding costs are repricing in tandem rather than independently.
A NIM pinned at 0.8-0.9% is materially thin by regional bank standards and suggests Amerant is not capturing spread expansion even when the broader rate cycle moved in its favor, which may reflect the pricing power it trades away to retain its relationship-based deposit base. The single tick up to 0.9% in 2026Q3, if sustained, would be a modest positive signal, but on its own it does not demonstrate a durable inflection and warrants monitoring alongside the deposit mix disclosures.
Efficiency Ratio Normalizes After Distortions
Based on Amerant's quarterly disclosures, the efficiency ratio improved to 63.5% in 2026Q3 from 144.5% in the prior quarter, its strongest reading in the ten-quarter series, suggesting cost discipline is taking hold once distorted revenue bases normalize.
The 63.5% print is notable because it sits below the 67-70% band Amerant held through most of 2025, which may indicate that branch optimization and expense management are finally producing operating leverage rather than merely offsetting revenue softness. However, the comparison is partly flattered by the depressed $100.7 million revenue base in 2026Q2; the more meaningful test is whether the ratio holds near 63-64% while NII continues to contract, since cost control alone cannot offset a shrinking spread business.
Provision Swings Cloud Credit Signal
Amerant's filings show provision expense swinging from a $48.3 million release in 2026Q2 to a $6.2 million charge in 2026Q3, a volatility range that makes the underlying credit cycle difficult to read from reported earnings alone.
The absence of a stable provisioning run-rate — ranging from a $48.3 million release to a $19.0 million build within six quarters — suggests reported net income is being materially influenced by allowance recalibrations rather than a consistent view of credit risk, particularly in the CRE portfolio. The modest $6.2 million charge in the latest quarter may indicate stabilizing credit expectations, but investors should test that against criticized asset trends before treating the lower provision as evidence of an improving cycle.
Fee Volatility Undermines Earnings Quality
According to Amerant's reported results, non-interest income contributed 16.9% of revenue in 2026Q3 but printed negative $34.9 million in 2026Q2, a swing large enough to distort period comparisons and one that warrants scrutiny of what drove the reversal.
Negative non-interest income of this magnitude, alongside a prior -$49.5 million print in 2024Q3, implies that Amerant's fee line is exposed to large episodic items — potentially securities or derivative revaluations — rather than being the stable, capital-light wealth management stream the segment mix suggests. If a meaningful share of reported earnings continues to depend on these non-recurring swings, then the underlying quality of the $0.65 quarterly EPS is weaker than the headline growth rate implies, and analysts should separate core fee generation from adjustment-driven contributions.