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Amerant Bancorp Inc. (AMTB) Q3 2023 Earnings Call Transcript

Amerant Bancorp Inc. (NYSE:AMTB) Q3 2023 Earnings Conference Call October 20, 2023 9:00 AM ET

Company Participants

Laura Rossi – Head of IR and Sustainability

Jerry Plush – Chairman and Chief Executive Officer

Sharymar Calderon – Executive Vice President & Chief Financial Officer

Conference Call Participants

Michael Rose – Raymond James

Brady Gailey – KBW

Feddie Strickland – Janney Montgomery Scott

Matt Olney – Stephens

Operator

Good day and thank you for standing by. Welcome to Amerant Bancorp Third Quarter 2023 Earnings Conference Call. [Operator Instructions] Please be advised that today’s conference is being recorded.

I’d now like to hand over conference over to your host today, Laura Rossi, Head of Investor Relations and Sustainability. Please go ahead.

Laura Rossi

Thank you, Liz. Good morning, everyone and thank you for joining us to review Amerant Bancorp’s third quarter 2023 results. On today’s call are Jerry Plush, our Chairman and Chief Executive Officer; and Sharymar Calderon, our Executive Vice President and Chief Financial Officer.

As we begin, please note that discussions on today’s call contain forward-looking statements within the meaning of the Securities Exchange Act. In addition, references will also be made to non-GAAP financial measures. Please refer to the company’s earnings release for a statement regarding forward-looking statements as well as for information and reconciliation of non-GAAP financial measures to GAAP measures.

I will now turn over to our Chairman and CEO, Jerry Plush.

Jerry Plush

Thank you, Laura. Good morning, everyone, and thank you for joining Amerant’s third quarter 2023 earnings call. We’re happy to be here today to update everyone on the continued progress we made during the period. So during the third quarter, we focused on improving balance sheet composition, which included the continued prioritization of organic deposit growth, which enabled us to reduce higher cost institutional deposits which are highly rate sensitive and therefore subject

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