AMTB - Amerant Bancorp GAAP EPS of $0.55 misses by $0.12 revenue of $106.54M beats by $16.32M

• Amerant Bancorp press release ( NASDAQ: AMTB ): Q4 GAAP EPS of $0.55 misses by $0.12 .
• Revenue of $106.54M (-19.9% Y/Y) beats by $16.32M .
• Average yield on loans was 5.85%, up compared to 5.06% and 4.10% in 3Q22 and 4Q21
• The allowance for credit losses ("ACL") was $83.5 million, an increase of $29.8 million, or 55.5%, compared to $53.7 million as of 3Q22 and an increase of $13.6 million, or 19.5%, compared to $69.9 million in 4Q21.
• Core deposits were $5.32 billion, up $114.3 million, or 2.2%, compared to $5.20 billion as of 3Q22 and up $1.0 billion, or 23.8%, compared to $4.29 billion as of 4Q21.
• Average cost of total deposits was 1.38%, an increase compared to 0.83% in 3Q22 and 0.41% in 4Q21. Average cost of total deposits for the full-year 2022 was 0.80%, also an increase compared to 0.49% for the full-year 2021.
• Loan to deposit ratio was 98.23% compared to 98.71% and 98.88% in 3Q22 and 4Q21, respectively.
• The efficiency ratio was 58.42%, down compared to 65.36% in 3Q22 and up compared to 41.40% in 4Q21. The efficiency ratio was 72.29% for the full-year 2022 compared to 60.85% for the full-year 2021.
• Return on average assets (“ROA”) was 0.83% compared to 1.00% and 3.45% in 3Q22 and 4Q21, respectively. ROA was 0.77% for the full-year 2022 compared to 1.50% for the full-year 2021.
• Return on average equity (“ROE”) was 10.33% compared to 11.28% and 32.04% in 3Q22 and 4Q21, respectively. ROE was 8.45% for the full-year 2022 compared to 14.19% for the full-year 2021.

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