Amerant Bancorp Inc. (the “Company”) is a Florida corporation incorporated in 1985, which has operated since January 1987. The Company is a bank holding company registered under the Bank Holding Company Act of 1956 (“BHC Act”), as a result of its 100% ownership of Amerant Bank, N.A. (the “Bank”). The Company’s principal office is in the City of Coral Gables, FL. The Bank is a member of the Federal Deposit Insurance Corporation (“FDIC”), the Federal Reserve Bank of Atlanta (“Federal Reserve”) and the Federal Home Loan Bank of Atlanta (“FHLB”). The Bank is a national bank subject to regulation and regular examinations by the Office of the Comptroller of the Currency (“OCC”). Amerant Investments, Inc., a securities broker-dealer (“Amerant Investments”) is an operating subsidiary of the Bank.

Amerant Mortgage, LLC, a mortgage lending company domiciled in Florida (“Amerant Mortgage”) and Elant Bank & Trust Ltd., a bank and trust company domiciled in George Town, Grand Cayman (the “Cayman Bank”) are subsidiaries of the Bank. The Company is currently in the process of winding down and dissolving Amerant Mortgage and expects to complete that process in 2026, subject to the receipt of any required regulatory approvals. With respect to the Cayman Bank, the Company has satisfied all regulatory requirements for its dissolution, which is expected to become effective on October 7, 2026, in accordance with applicable Cayman Islands law.

On April 1, 2025, the Company redeemed $60.0 million in aggregate principal amount of its 5.75% Senior Notes that were due June 30, 2025 (the “Senior Notes”). The Senior Notes were redeemed in full at a redemption price equal to 100% of the principal amount of the Senior Notes, plus accrued and unpaid interest. The aggregate redemption price, including accrued interest, totaled approximately $60.9 million.

The CODM manages the Company as one operating segment: the consolidated Company as one entity. All decisions regarding the allocation of financial, operational, and other resources are managed under this one segment. As part of the determination for the allocation of resources, the CODM regularly reviews net income as the measure of profit or loss. In addition, as part of the CODM’s assessment of the performance of the consolidated entity, the CODM also reviews the consolidated financial statements for significant expenses which include both cash and noncash items, such as amortization and depreciation and stock-based compensation. For more information on the significant components of net income or any significant cash or noncash items, refer to our accompanying consolidated financial statements or the Notes to Consolidated Financial Statements contained within. The measure of assets is reported on the consolidated balance sheet as total consolidated assets.

As the Company’s consolidated financial information as of June 30, 2026 and December 31, 2025 conform with generally accepted accounting principles in the United States (GAAP) and the Company is managed on a single operating business segment, we collectively refer to the accompanying consolidated financial statements for the Segment Results for the measures of consolidated profit or loss, as well as consolidated total assets.

In January 2026, the Company announced that its Board of Directors authorized a new stock repurchase program (the “2026 Stock Repurchase Program”), pursuant to which the Company may purchase, from time to time, up to an aggregate amount of $40 million of its shares of Class A common stock. The 2026 Stock Repurchase Program will be effective until December 31, 2026.

In the three and six month periods ended June 30, 2026, the Company repurchased an aggregate of 690,000 and 1,549,493 shares of Class A common stock at a weighted average price of $23.29 and $22.44 per share, including transaction costs. The aggregate purchase price for these transactions was $16.4 million and $35.1 million in the three and six month periods ended June 30, 2026, respectively, including transaction costs and excise tax on repurchases.

In the three and six month periods ended June 30, 2025, the Company repurchased an aggregate of 275,666 and 491,093 shares of Class A common stock at a weighted average price of $18.14 and $20.36 per share, including transaction costs. The aggregate purchase price for these transactions was $5.0 million and $10.0 million in the three and six month periods ended June 30, 2025, respectively, including transaction costs.

In the three and six month periods ended June 30, 2026 and 2025, the Company’s Board of Directors authorized the cancellation of all shares of Class A common stock previously repurchased and held as treasury stock. As of June 30, 2026 and 2025, there were no shares of Class A common stock held as treasury stock.

The Company, through Amerant SPV, has invested in equity instruments through various fintech, financial technology solutions providers and funds. During the six months ended June 30, 2026, the Company recorded an impairment charge of $1.8 million related to its equity investment in a fintech. No significant impairment charges were recorded during the three months ended June 30, 2026. As of June 30, 2026, the Company’s remaining investment on this fintech is not considered material.

Declaration Date

Record Date

Payment Date

Dividend Per Share

Dividend Amount

04/22/2026

05/15/2026

05/29/2026

$0.09

$3.6 million

01/22/2026

02/13/2026

02/27/2026

$0.09

$3.7 million

04/23/2025

05/15/2025

05/30/2025

$0.09

$3.8 million

01/22/2025

02/14/2025

02/28/2025

$0.09

$3.8 million

On July 22, 2026, the Company’s Board of Directors declared a cash dividend of $0.09 per share of the Company’s common stock. The dividend is payable on August 28, 2026, to shareholders of record at the close of business on August 14, 2026.

The accompanying unaudited interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required for a fair statement of financial position, results of operations and cash flows in conformity with GAAP. These unaudited interim consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the interim periods presented. These adjustments are of a normal, recurring nature. Interim period operating results may not be indicative of the operating results for a full year or any other period. These unaudited interim consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements as of December 31, 2025 and 2024 and for each of the three years in the period ended December 31, 2025 and the accompanying footnote disclosures for the Company, which are included in the 2025 Form 10-K.

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates made by management include: (i) the determination of the allowance for credit losses; (ii) the fair values of loans, securities and derivative contracts; (iii) the cash surrender value of bank owned life insurance; and (iv) the determination of whether the amount of deferred tax assets will more likely than not be realized. Management believes that these estimates are appropriate. Actual results could differ from these estimates.

To emphasize material items, certain line items have been aggregated in the statement of operations and comprehensive income presented in this Form 10-Q. As part of these updates, interest-bearing demand, savings, and money market deposits have been aggregated into one line item in the statement of operations and comprehensive income. Prior periods have been conformed to this presentation for comparability.

In November 2025, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance related to certain purchased loans. This guidance expands the use of the gross‑up approach for measuring credit losses at acquisition for certain purchased loans and eliminates the recognition of a Day 1 credit loss expense for those loans. Under this guidance, entities are required to account for acquired loans that meet certain criteria at acquisition, referred to as purchased seasoned loans (“PSLs”), by recognizing them at their purchase price plus an allowance for expected credit losses.

PSLs are purchased non-credit‑deteriorated loans, excluding credit cards, obtained in a business combination or acquired more than 90 days after origination through qualifying asset acquisitions or upon consolidation of non‑business variable interest entities.

The guidance is effective for fiscal years beginning after December 15, 2026; early adoption is permitted. The Company early adopted this guidance, effective January 1, 2026 and applied it prospectively. As a result of this adoption, for PSL loans acquired during the three and six months ended June 30, 2026, including residential and commercial loans originated at least 90 days prior to acquisition, the Company recorded an allowance for credit losses of $1.9 million and $2.4 million, respectively, at the date of acquisition.

For a description of other recently issued accounting pronouncements, see Note 1 to the Company’s audited consolidated financial statements in the 2025 Form 10-K. There were no other recently issued accounting pronouncements adopted or issued that are expected to have a material impact on the Company, other than those disclosed above or in the 2025 Form 10‑K.