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CORAL GABLES, Fla. - Amerant Bancorp Inc. (NYSE:AMTB), a $723 million market cap regional bank, has appointed Patricia "Patty" Morrison and Jack Kopnisky to its Board of Directors, the Florida-based bank holding company announced in a press release. According to InvestingPro data, the bank is currently trading near Fair Value levels despite facing recent challenges.
Morrison, a former Chief Information Officer at Cardinal Health, brings experience in technology leadership with previous roles at Motorola, Office Depot, PepsiCo, and GE. She currently serves on the Board of Directors of Baxter International Inc. (NYSE:BAX).
Kopnisky joins with over 40 years of financial services experience, most recently as Executive Chairman of Webster Financial Corporation (NYSE:WBS). He previously served as CEO of Sterling Bancorp before its merger with Webster and held leadership positions at Key Bank and Society.
"Patty’s deep technology leadership and extensive board expertise, paired with Jack’s enviable experience in leading high performing publicly traded financial services organizations, will be invaluable," said Jerry Plush, Chairman and CEO of Amerant.
The appointments follow the addition of Lisa Lutoff-Perlo and Odilon Almeida Júnior to the board in January 2025, according to the company.
Amerant Bancorp, headquartered in Coral Gables since 1979, operates through its main subsidiary Amerant Bank, which has 20 banking centers - 19 in South Florida and one in Tampa. The company provides deposit, credit, and wealth management services to individuals and businesses, currently offering a 2.08% dividend yield. Investors can access detailed financial analysis and additional insights through InvestingPro’s comprehensive research report, which is part of their coverage of over 1,400 US stocks.
In other recent news, Amerant Bancorp reported mixed results for the first quarter of 2025. The company’s earnings per share (EPS) fell short of analyst expectations, posting $0.28 compared to the forecasted $0.40. However, Amerant Bancorp exceeded revenue predictions, bringing in $105.43 million against an anticipated $101.91 million. Total assets increased to $10.2 billion from $9.9 billion in the previous quarter, while total deposits saw a rise to $8.2 billion, an increase of $300 million from the prior quarter. Despite the earnings miss, the company is shifting its strategic focus to the Florida mortgage market, which is expected to positively impact non-interest income and expenses. In another development, Amerant Bancorp announced an expansion of its stock repurchase program, allowing the company to buy back up to $25 million of its Class A common stock. This move is part of the company’s ongoing efforts to manage capital and return value to shareholders. The repurchase program, set to expire on December 31, 2025, can be executed through various methods, including open market purchases and block transactions.
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