Amerant Bancorp Inc.AMTB

Amerant Bancorp Inc. Earnings Per Share Disclosure

10-KFiled Feb 27, 20262 min read
Earnings Per Share
The following table shows the calculation of basic and diluted earnings per share:
(in thousands, except per share data)202520242023
Numerator:
Net income (loss) before attribution of noncontrolling interest$52,417 $(15,752)$30,789 
Noncontrolling interest— — (1,701)
Net income (loss) attributable to Amerant Bancorp Inc.$52,417 $(15,752)$32,490 
Net income (loss) available to common stockholders$52,417 $(15,752)$32,490 
Denominator:
Basic weighted averages shares outstanding41,578,758 35,755,375 33,511,321 
Dilutive effect of shared-based compensation awards152,545 — 164,067 
Diluted weighted average shares outstanding41,731,303 35,755,375 33,675,388 
Basic earnings (loss) per common share$1.26 $(0.44)$0.97 
Diluted earnings (loss) per common share$1.26 $(0.44)$0.96 
As of December 31, 2025 and 2023, potential dilutive instruments consisted of unvested shares of restricted stock, restricted stock units and performance stock units, totaling 481,031 and 595,420, respectively. As of December 31, 2024, potential dilutive instruments consisted of unvested shares of restricted stock and restricted stock units totaling 400,470. In 2025 and 2023, these instruments were included in the diluted earnings per share computation because, when the unamortized deferred compensation cost related to these shares was divided by the average market price per share in those periods, fewer shares would have been purchased than restricted shares assumed issued. Therefore, in those periods, such awards resulted in higher diluted weighted average shares outstanding than basic weighted average shares outstanding, and had a dilutive effect in per share earnings. In 2024, potential dilutive instruments were not included in the diluted earnings per share computation because the Company reported a net loss and their inclusion would have an anti-dilutive effect in per share earnings in that period. Further, as of December 31, 2025, 2024 and 2023, 44,552, 144,008 and 21,936 performance stock units, respectively, were excluded from the diluted earnings per share computation because the performance target was not achieved. See “Note 1. Business, Basis of Presentation and Summary of Significant Accounting Policies” and “Note 14. Incentive Compensation and Benefit Plans” for more details on the performance and or market conditions associated with these awards.

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

Other Available Disclosures

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