Amerant Bancorp Inc. (NYSE:AMTB) (the "Company" or "Amerant") today reported net income attributable to the Company of $2.7 million in the fourth quarter of 2025, or $0.07 per diluted share, compared to net income of $14.8 million, or $0.35 earnings per diluted share, in the third quarter of 2025. Net income attributable to the Company was $52.4 million for the full-year 2025, or $1.26 per diluted share, compared to a net loss of $15.8 million, or $0.44 per diluted share, for the full-year 2024.

"Amerant's fourth quarter reflected our significant efforts to position the bank for long‑term success. We incurred elevated non-interest expenses and experienced ongoing credit normalization, both driven by our strategic actions to address key credit matters, enhance our risk-selection processes, and improve organizational efficiencies," stated Carlos Iafigliola, SEVP and Interim CEO. "During this period, we updated our strategic plan to prioritize sustainable growth supported by disciplined credit management and maintained a strong funding mix, high liquidity levels, and a solid capital position. We believe our full-year results underscore the resilience of our franchise, highlighted by a healthy financial margin and solid core PPNR. As we enter 2026, our priorities are clear: strengthen asset quality, optimize our balance sheet and operational processes, and accelerate profitable growth. I am confident in our team's dedication and the fundamentals of our business model. We remain committed to delivering value to our customers, communities, and shareholders."

Fourth Quarter Financial Highlights and Quarter-Over-Quarter Comparison:

Total assets were $9.8 billion, down $633.2 million, or 6.1%, compared to $10.4 billion.
Total gross loans were $6.7 billion, a decrease of $244.6 million, or 3.5%, compared to $6.9 billion.
Cash and cash equivalents were $470.2 million, down $160.7 million, or 25.5%, compared to $630.9 million.
Investment securities were $2.1 billion, down $223.1 million, or 9.7%, compared to $2.3 billion.
Total deposits were $7.8 billion, down $514.0 million, or 6.2%, compared to $8.3 billion.
Total advances from Federal Home Loan Bank ("FHLB") were $712.0 million, down $119.7 million, or 14.4%, compared to $831.7 million.
Net Interest Margin ("NIM") was 3.78%, down compared to 3.92%.
Average yield on loans was 6.73%, compared to 6.93%.
Average cost of total deposits was 2.34%, compared to 2.41%.
Loan to deposit ratio was 86.01%, compared to 83.63%.
Asset Quality and Allowance for Credit Losses ("ACL"):
- Total non-performing assets were $186.9 million, up $47.0 million, or 33.6%, compared to $139.9 million. As of 4Q25, non-performing assets consist of $171.4 million in non-performing loans and $15.5 million in Other Real Estate Owned ("OREO").
- The ACL was $79.3 million, a decrease of $15.6 million, or 16.5%, compared to $94.9 million.
- Classified loans were $354.8 million, up by $113.0 million, or 46.7% compared to $241.8 million, and non-performing loans increased by $47.1 million, or 37.9% to $171.4 million compared to $124.3 million, while special mention loans decreased by $87.9 million, or 39.2% to $136.5 million from $224.3 million.
- The Company has provided additional details regarding asset quality in the 4Q25 earnings presentation (https://investor.amerantbank.com).
Core deposits, which consist of total deposits excluding all time deposits, were $5.8 billion, down $412.1 million, or 6.6%, compared to $6.2 billion.
Assets Under Management and custody ("AUM") totaled $3.3 billion, an increase of $87.2 million, or 2.8%, compared to $3.2 billion.
Pre-provision net revenue ("PPNR")⁽¹⁾ was $5.4 million, a decrease of $28.2 million, or 83.9%, compared to $33.6 million. Core PPNR⁽¹⁾ was $29.3 million, down $6.5 million, or 18.1%, compared to $35.8 million.
Net Interest Income ("NII") was $90.2 million, down $4.0 million, or 4.3%, compared to $94.2 million.
Provision for credit losses was $3.5 million, down $11.1 million, or 76.1%, compared to $14.6 million.
Non-interest income was $22.0 million, an increase of $4.7 million, or 27.3%, compared to $17.3 million.
Non-interest expense was $106.8 million, up $28.9 million, or 37.2%, compared to $77.8 million.
The efficiency ratio was 95.19% in 4Q25, up compared to 69.84%.
Return on average assets ("ROA") was 0.10% compared to 0.57%.
Return on average equity ("ROE") was 1.12% compared to 6.21%.
On January 21, 2026, the Company's Board of Directors declared a cash dividend of $0.09 per share of common stock. The dividend is payable on February 27, 2026 to shareholders of record on February 13, 2026.

Full-year Financial Highlights and Year-over-Year Comparison:

Total assets were $9.8 billion, down $124.7 million, or 1.3%, compared to $9.9 billion.
Total gross loans were $6.7 billion, a decrease of $574.1 million, or 7.9%, compared to $7.3 billion in 4Q24.
Cash and cash equivalents were $470.2 million, down $120.2 million, or 20.4%, compared to $590.4 million as of 4Q24.
Total deposits were $7.8 billion, down $67.7 million, or 0.9%, compared to $7.9 billion in 4Q24.
Total advances from FHLB were $712.0 million, down $33.0 million, or 4.4%, compared to $745.0 million as of 4Q24.
NIM was 3.78%, up compared to 3.75% in 4Q24. NIM was 3.82% for the full-year 2025, up compared to 3.58% for the full-year 2024.
Average yield on loans was 6.73%, down compared to 7.00% in 4Q24. Average yield on loans for the full-year 2025 was 6.85%, down compared to 7.06% for the full-year 2024.
Average cost of total deposits was 2.34% compared to 2.77% in 4Q24. Average cost of total deposits for the full-year 2025 was 2.47% compared to 2.94% for the full-year 2024.
Loan to deposit ratio was 86.01% compared to 92.57% in 4Q24.
Asset Quality and ACL:
- Total non-performing assets were $186.9 million, up $64.7 million or 53.0%, compared to $122.2 million in 4Q24.
- The ACL was $79.3 million, a decrease of $5.7 million, or 6.7%, compared to $85.0 million in 4Q24.
- Classified loans were $354.8 million, up by $188.3 million, or 113.1% compared to $166.5 million as of 4Q24 and non-performing loans increased by $67.3 million, or 64.6% to $171.4 million as of 4Q25 from $104.1 million as of 4Q24, while special mention loans increased by $131.0 million, or 2423.2% to $136.5 million as of 4Q25 from $5.4 million as of 4Q24.
Core deposits, which consist of total deposits excluding all time deposits, were $5.8 billion, up $170.7 million, or 3.0%, compared to $5.6 billion as of 4Q24.
AUM totaled $3.3 billion as of 4Q25, an increase of $366.7 million, or 12.7%, compared to $2.9 billion in 4Q24.
PPNR⁽¹⁾ was $5.4 million in 4Q25, a decrease of $22.5 million, or 80.7%, compared to $27.9 million in 4Q24. PPNR was $108.7 million for the full-year 2025, an increase of $72.4 million, or 198.9%, compared to $36.4 million for the full-year 2024. Core PPNR⁽¹⁾ for the full-year 2025 was $133.7 million, up $8.2 million, or 6.5%, compared to $125.6 million for the full-year 2024.
NII was $90.2 million, up $2.5 million, or 2.9%, compared to $87.6 million in 4Q24. NII was $360.7 million for the full-year 2025, up $34.7 million, or 10.7%, compared to $326.0 million for the full-year 2024.
Provision for credit losses was $3.5 million, down, $6.4 million or 64.8%, compared to $9.9 million in 4Q24. Provision for credit losses was $42.6 million for the full-year 2025, compared to $60.5 million in the full-year 2024.
Non-interest income was $22.0 million, a decrease of $1.7 million, or 7.0%, compared to $23.7 million in 4Q24. Non-interest income was $78.6 million for the full-year 2025, an increase of $68.7 million, or 693.3%, compared to $9.9 million for the full-year 2024. Core non-interest income⁽¹⁾ in 4Q25 was $16.7 million, a decrease of $1.1 million, or 6.1%, compared to $17.8 million in 4Q24. For the full-year 2025, core non-interest income⁽¹⁾ was $70.7 million, a decrease of $2.0 million, or 2.7%, compared to $72.7 million for the full-year 2024.
Non-interest expense was $106.8 million, up $23.4 million, or 28.0%, compared to $83.4 million in 4Q24. Non-interest expense was $330.6 million for the full-year 2025, up $31.1 million or 10.4%, compared to $299.5 million for the full-year 2024. Core non-interest expense⁽¹⁾ in 4Q25 was $77.6 million, an increase of $9.3 million, or 13.7%, compared to $68.2 million in 4Q24, while for the full-year 2025, core non-interest expense⁽¹⁾ was $297.7 million, an increase of $24.6 million, or 8.99%, compared to $273.1 million for the full-year 2024.
The efficiency ratio was 95.19% in 4Q25, up compared to 74.91% in 4Q24. The efficiency ratio was 75.25% for the full-year 2025 compared to 89.17% for the full-year 2024. Core efficiency ratio⁽¹⁾in 4Q25 was 72.58%, up compared to 64.71% in 4Q24, while for the full-year 2025, the core efficiency ratio⁽¹⁾ was 69.00%, up compared to 68.51% for the full-year 2024.
Return on average assets ("ROA") was 0.10% in 4Q25 compared to 0.67% in 4Q24. ROA was positive 0.51% for the full-year 2025 compared to negative 0.16% for the full-year 2024. Core ROA⁽¹⁾ in 4Q25 was 0.84% compared to 0.83% in 4Q24, while for the full-year 2025, Core ROA⁽¹⁾ was 0.71% compared to 0.51% for the full-year 2024.
Return on average equity ("ROE") was 1.12% in 4Q25 compared to 7.38% in 4Q24. ROE was positive 5.62% for the full-year 2025 compared to negative 1.99% for the full-year 2024. Core ROE⁽¹⁾ was 8.98% in 4Q25 compared to 9.25% in 4Q24, while for the full-year 2025, Core ROE⁽¹⁾ was 7.75% compared to 6.37% for the full-year 2024.

Additional details on fourth quarter and full-year 2025 results can be found in the Exhibits to this earnings release, and the earnings presentation available under the Investor Relations section of the Company's website at https://investor.amerantbank.com.

¹ Non-GAAP measure, see "Non-GAAP Financial Measures" for more information and Exhibit 2 for a reconciliation to GAAP measures.

Fourth Quarter and Full Year 2025 Earnings Conference Call

The Company will hold an earnings conference call on Friday, January 23, 2026 at 9:00 a.m. (Eastern Time) to discuss its fourth quarter and full-year 2025 results. The conference call and presentation materials can be accessed via webcast by logging on from the Investor Relations section of the Company's website at https://investor.amerantbank.com. The online replay will remain available for approximately one month following the call through the above link.

About Amerant Bancorp Inc. (NYSE:AMTB)

Amerant Bancorp Inc. is a bank holding company headquartered in Coral Gables, Florida since 1979. The Company operates through its main subsidiary, Amerant Bank, N.A. (the "Bank"), as well as its other subsidiary Amerant Investments, Inc. The Company provides individuals and businesses with deposit, credit and wealth management services. The Bank, which has operated for over 45 years, is headquartered in Florida and has a network of 23 banking centers – 21 in South Florida and 2 in Tampa, Florida. For more information, visit investor.amerantbank.com.

Cautionary Notice Regarding Forward-Looking Statements

This press release contains "forward-looking statements" including statements with respect to the Company's objectives, expectations and intentions and other statements that are not historical facts. Examples of forward-looking statements include but are not limited to: our future operating or financial performance, including revenues, expenses, expense savings, income or loss and earnings or loss per share, and other financial items; statements regarding expectations, plans or objectives for future operations, products or services, and our expectations on loan recoveries, reaching effective resolutions on problem loans, or significantly reducing special mention and/or non-performing loans. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "will," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "point to," "project," "could," "intend," "target," "goals," "outlooks," "modeled," "dedicated," "create," and other similar words and expressions of the future.

Forward-looking statements, including those relating to our beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions, involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the Company's actual results, performance, achievements, or financial condition to be materially different from future results, performance, achievements, or financial condition expressed or implied by such forward-looking statements. You should not rely on any forward-looking statements as predictions of future events. You should not expect us to update any forward-looking statements, except as required by law. All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, together with those risks and uncertainties described in "Risk factors" in our annual report on Form 10-K for the fiscal year ended December 31, 2024 filed on March 5, 2025 (the "Form 10-K") and in our other filings with the U.S. Securities and Exchange Commission (the "SEC"), which are available at the SEC's website www.sec.gov.

Interim Financial Information

Unaudited financial information as of and for interim periods, including the three month periods ended September 30, 2025, June 30, 2025, March 31, 2025, and the three and twelve month periods ended December 31, 2025, may not reflect our results of operations for our fiscal year ended, or financial condition as of December 31, 2025, or any other period of time or date.

Non-GAAP Financial Measures

The Company supplements its financial results that are determined in accordance with accounting principles generally accepted in the United States of America ("GAAP") with non-GAAP financial measures, such as "pre-provision net revenue (PPNR)", "core pre-provision net revenue (Core PPNR)", "core noninterest income", "core noninterest expense", "core net income", "core earnings per share (basic and diluted)", "core return on assets (Core ROA)", "core return on equity (Core ROE)", "core efficiency ratio", "tangible common equity ratio", and "tangible stockholders' equity (book value) per common share". This supplemental information is not required by, or is not presented in accordance with GAAP. The Company refers to these financial measures and ratios as "non-GAAP financial measures".

We use certain non-GAAP financial measures, including those mentioned above, both to explain our results to shareholders and the investment community and in the internal evaluation and management of our business. Management believes that these supplementary non-GAAP financial measures and the information they provide are useful to investors since these measures permit investors to view our performance using the same tools that our management uses to evaluate our past performance and prospects for future performance. While we believe that these non-GAAP financial measures are useful in evaluating our performance, this information should be considered as supplemental and not as a substitute for or superior to the related financial information prepared in accordance with GAAP. Additionally, these non-GAAP financial measures may differ from similar measures presented by other companies.

Exhibit 2 reconciles these non-GAAP financial measures to GAAP reported results.

Exhibit 1- Selected Financial Information

The following table sets forth selected financial information derived from our unaudited and audited consolidated financial statements.

(in thousands)	December 31, 2025		September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024
Consolidated Balance Sheets									(audited)
Total assets	$	9,777,018	$	10,410,199	$	10,334,678	$	10,169,688	$	9,901,734
Total investments		2,084,569		2,307,701		1,970,888		1,761,678		1,497,925
Total gross loans ⁽¹⁾⁽²⁾		6,697,235		6,941,792		7,189,196		7,219,162		7,271,322
Allowance for credit losses		79,276		94,918		86,519		98,266		84,963
Total deposits		7,786,934		8,300,969		8,306,544		8,154,978		7,854,595
Core deposits⁽¹⁾		5,790,895		6,203,038		6,143,625		5,993,055		5,620,150
Advances from the Federal Home Loan Bank		711,984		831,699		765,000		715,000		745,000
Senior notes ⁽³⁾		—		—		—		59,922		59,843
Subordinated notes		29,795		29,752		29,710		29,667		29,624
Junior subordinated debentures		64,178		64,178		64,178		64,178		64,178
Stockholders' equity ⁽⁴⁾⁽⁵⁾		938,802		944,940		924,286		906,263		890,467
Assets under management and custody ⁽¹⁾		3,256,754		3,169,514		3,065,020		2,932,602		2,890,048

	Three Months Ended															Years Ended December 31,
(in thousands, except percentages, share data and per share amounts)	December 31, 2025			September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024				2025			2024
Consolidated Results of Operations																			(audited)
Net interest income	$	90,150		$	94,152		$	90,479		$	85,904		$	87,635		$	360,685		$	325,957
Provision for credit losses ⁽⁶⁾		3,490			14,600			6,060			18,446			9,910			42,596			60,460
Noninterest income		22,019			17,291			19,778			19,525			23,684			78,613			9,909
Noninterest expense		106,772			77,835			74,400			71,554			83,386			330,561			299,490
Net income (loss) attributable to Amerant Bancorp Inc.		2,701			14,756			23,002			11,958			16,881			52,417			(15,752	)
Effective income tax rate		(41.64	)%		22.37	%		22.80	%		22.50	%		6.34	%		20.75	%		34.60	%

Common Share Data
Stockholders' book value per common share	$	23.13		$	22.90		$	22.14		$	21.60		$	21.14		$	23.13		$	21.14
Tangible stockholders' equity (book value) per common share ⁽⁷⁾	$	22.56		$	22.32		$	21.56		$	21.03		$	20.56		$	22.56		$	20.56
Basic earnings (loss) per common share	$	0.07		$	0.35		$	0.55		$	0.28		$	0.40		$	1.26		$	(0.44	)
Diluted earnings (loss) per common share⁽⁸⁾	$	0.07		$	0.35		$	0.55		$	0.28		$	0.40		$	1.26		$	(0.44	)
Basic weighted average shares outstanding		40,915,733			41,590,201			41,805,550			42,015,507			42,069,098			41,578,758,000			35,755,375,000
Diluted weighted average shares outstanding ⁽⁸⁾		41,102,760			41,774,101			41,873,551			42,186,759			42,273,778			41,731,303,000			35,755,375,000
Cash dividend declared per common share ⁽⁵⁾	$	0.09		$	0.09		$	0.09		$	0.09		$	0.09		$	0.36		$	0.36

	Three Months Ended										Years Ended December 31,
	December 31, 2025		September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024		2025		2024
Other Financial and Operating Data ⁽⁹⁾

Profitability Indicators (%)
Net interest income / Average total interest earning assets (NIM) ⁽¹⁾	3.78	%	3.92	%	3.81	%	3.75	%	3.75	%	3.82	%	3.58	%
Net income (loss) / Average total assets (ROA)⁽¹⁾	0.10	%	0.57	%	0.90	%	0.48	%	0.67	%	0.51	%	(0.16	)%
Net income(loss) / Average stockholders' equity (ROE) ⁽¹⁾	1.12	%	6.21	%	10.06	%	5.32	%	7.38	%	5.62	%	(1.99	)%
Noninterest income / Total revenue⁽¹⁾	19.63	%	15.52	%	17.94	%	18.52	%	21.28	%	17.90	%	2.95	%

Capital Indicators (%)
Total capital ratio⁽¹⁾	14.10	%	13.90	%	13.49	%	13.45	%	13.43	%	14.10	%	13.43	%
Tier 1 capital ratio⁽¹⁾	12.58	%	12.28	%	11.97	%	11.84	%	11.95	%	12.58	%	11.95	%
Tier 1 leverage ratio ⁽¹⁾	9.62	%	9.73	%	9.69	%	9.73	%	9.66	%	9.62	%	9.66	%
Common equity tier 1 capital ratio (CET1)⁽¹⁾	11.80	%	11.54	%	11.24	%	11.11	%	11.21	%	11.80	%	11.21	%
Tangible common equity ratio ⁽¹⁾⁽⁷⁾	9.39	%	8.87	%	8.73	%	8.69	%	8.77	%	9.39	%	8.77	%

Liquidity Ratios (%)
Loans to Deposits⁽¹⁾	86.01	%	83.63	%	86.55	%	88.52	%	92.57	%	86.01	%	92.57	%

Asset Quality Indicators (%)
Non-performing assets / Total assets⁽¹⁾	1.91	%	1.34	%	0.95	%	1.38	%	1.23	%	1.91	%	1.23	%
Non-performing loans / Total loans ⁽¹⁾	2.56	%	1.79	%	1.15	%	1.71	%	1.43	%	2.56	%	1.43	%
Allowance for credit losses / Total non-performing loans	46.26	%	76.37	%	104.89	%	79.75	%	81.62	%	46.26	%	81.62	%
Allowance for credit losses / Total loans held for investment	1.20	%	1.37	%	1.20	%	1.37	%	1.18	%	1.20	%	1.18	%
Net charge-offs / Average total loans held for investment ^(1)(10)	1.07	%	0.39	%	0.86	%	0.22	%	0.26	%	0.63	%	0.99	%

Efficiency Indicators (% except FTE)
Noninterest expense / Average total assets	4.14	%	3.01	%	2.91	%	2.89	%	3.29	%	3.24	%	3.03	%
Salaries and employee benefits / Average total assets	1.50	%	1.36	%	1.41	%	1.35	%	1.39	%	1.40	%	1.39	%
Other operating expenses/ Average total assets ⁽¹⁾	2.64	%	1.66	%	1.50	%	1.54	%	1.90	%	1.84	%	1.64	%
Efficiency ratio⁽¹⁾	95.19	%	69.84	%	67.48	%	67.87	%	74.91	%	75.25	%	89.17	%
Full-Time-Equivalent Employees (FTEs) ⁽¹¹⁾	694		704		692		726		698		694		698

	Three Months Ended															Years Ended December 31,
(in thousands, except percentages and per share amounts)	December 31, 2025			September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024				2025			2024
Core Selected Consolidated Results of Operations and Other Data ⁽⁷⁾

Pre-provision net revenue (PPNR)	$	5,397		$	33,608		$	35,857		$	33,875		$	27,933		$	108,737		$	36,376
Core pre-provision net revenue (Core PPNR)	$	29,307		$	35,765		$	37,122		$	31,546		$	37,217		$	133,740		$	125,556
Core net income	$	21,670		$	16,425		$	23,984		$	10,153		$	21,160		$	72,232		$	50,446
Core basic earnings per common share		0.53			0.39			0.57			0.24			0.50			1.74			1.41
Core earnings per diluted common share⁽⁸⁾		0.53			0.39			0.57			0.24			0.50			1.73			1.41
Core net income / Average total assets (Core ROA) ⁽¹⁾		0.84	%		0.64	%		0.94	%		0.41	%		0.83	%		0.71	%		0.51	%
Core net income / Average stockholders' equity (Core ROE)⁽¹⁾		8.98	%		6.91	%		10.49	%		4.52	%		9.25	%		7.75	%		6.37	%
Core efficiency ratio		72.58	%		67.96	%		66.35	%		69.24	%		64.71	%		69.00	%		68.51	%

__________________
(1)		See Glossary of Terms and Definitions for definitions of financial terms.
(2)		At December 31, 2025 and March 31, 2025 includes both mortgage loans held for sale carried at fair value and loans held for sale carried at the lower of cost or fair value. There were no loans held for sale at September 30, 2025, while all other periods include mortgage loans held for sale carried at fair value.
(3)		On April 01, 2025, the Company redeemed all outstanding Senior Notes. See Note 1 to the Company's consolidated financial statements in our March 31, 2025 Form 10-Q for more information.
(4)		On December 11, 2024, the Company announced that the Board of Directors approved to extend the expiration date of its share repurchase program that was set to expire on December 31, 2024 to December 31, 2025 (the "Repurchase Program"). Subsequently, on May 28, 2025, the Company announced that the Board of Directors approved an increase in the amount available for repurchases of the Company' shares of Class A common stock under the Repurchase Program to $25 million. In the fourth quarter of 2025 the Company repurchased an aggregate of 737,334 shares of Class A common stock at a weighted average price of $17.63 per share under the Repurchase Program. The aggregate purchase price for these transactions was approximately $13.0 million which includes transaction costs. For all other periods, see September 30, 2025 Form 10-Q, June 30, 2025 Form 10-Q, March 31, 2025 Form 10-Q and December 31, 2024 Form 10-K.
(5)		During the three months ended December 31, 2025, September 30, 2025, June 30, 2025, March 31, 2025 and December 31, 2024, the Company's Board of Directors declared cash dividends of $0.09 per share of the Company's common stock and paid an aggregate amount of $3.7 million in the fourth quarter of 2025 and $3.8 million per quarter in all other periods shown in connection with these dividends. The dividend declared in the fourth quarter of 2025 was paid on November 28, 2025 to shareholders of record at the close of business on November 14, 2025. See December 31, 2024 Form 10-K for more information on dividend payments during the previous quarters.
(6)		In all periods shown, includes reserves on loans and contingent loans. In the fourth, third, second and first quarter of 2025, and the fourth quarter of 2024, includes $2.8 million, $15.3 million, $3.6 million, $17.2 million, and $9.7 million of provision for credit losses on loans. The provision for (reversal of) unfunded commitments (contingencies) in the fourth, third, second and first quarters of 2025 and the fourth quarter of 2024, were $0.7 million, ($0.7 million), $2.5 million, $1.3 million, and $0.2 million, respectively.
(7)		This presentation contains adjusted financial information determined by methods other than GAAP. This adjusted financial information is reconciled to GAAP in Exhibit 2 - Non-GAAP Financial Measures Reconciliation.
(8)		See 2024 Form 10-K for more information on potential dilutive instruments and its impact on diluted earnings per share computation.
(9)		Operating data for the periods presented have been annualized.
(10)		See the Company's September 30, 2025 Form 10-Q, June 30, 2025 Form 10-Q and March 31, 2025 Form 10-Q as well as 2024 Form 10-K, for more details on charge-offs for all previous periods.
(11)		As of December 31, 2025, September 30, 2025, June 30, 2025, March 31, 2025 and December 31, 2024, includes 3, 5, 35, 77 and 80 FTEs for Amerant Mortgage, respectively.

Exhibit 2- Non-GAAP Financial Measures Reconciliation

The following table sets forth selected financial information derived from the Company's interim unaudited and annual audited consolidated financial statements, adjusted for certain costs incurred by the Company in the periods presented related to tax deductible restructuring costs, provision for (reversal of) credit losses, provision for income tax expense (benefit), the effect of non-core banking activities such as the sale of loans and securities and other repossessed assets, the valuation of securities, derivatives, loans held for sale and other real estate owned and repossessed assets, the early repayment of FHLB advances, impairment of investments, enhancement of the bank owned life insurance and other non-core actions intended to improve customer service and operating performance. The Company believes these adjusted numbers are useful to understand the Company's performance absent these transactions and events.

	Three Months Ended,													Years Ended December 31,
(in thousands)	December 31, 2025			September 30, 2025		June 30, 2025		March 31, 2025			December 31, 2024				2025		2024
Net income (loss) attributable to Amerant Bancorp Inc.	$	2,701		$	14,756	$	23,002	$	11,958		$	16,881		$	52,417	$	(15,752	)
Plus: provision for credit losses ⁽¹⁾		3,490			14,600		6,060		18,446			9,910			42,596		60,460
Plus: provision for income tax (benefit) expense		(794	)		4,252		6,795		3,471			1,142			13,724		(8,332	)
Pre-provision net revenue (PPNR)		5,397			33,608		35,857		33,875			27,933			108,737		36,376
Plus: non-core noninterest expense items ⁽²⁾		29,199			1,977		1,192		534			15,148			32,902		26,382
(Less) plus: non-core noninterest income items		(5,289	)		180		73		(2,863	)		(5,864	)		(7,899

Amerant Reports Fourth Quarter 2025 and Full-Year 2025 Results