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    Russell Elliott Gunther • Stephens Inc.

    Russell Elliott Gunther's questions to Amerant Bancorp Inc (AMTB) leadership

    Russell Elliott Gunther's questions to Amerant Bancorp Inc (AMTB) leadership • Q1 2025

    Question

    Russell Elliott Gunther of Stephens Inc. asked for details on the lowered loan growth outlook, including the balance between paydown headwinds and new lender contributions. He also inquired about asset quality, seeking visibility on the migration of problem assets, potential losses, and confirmation of the 1% ROA target for the second half of the year.

    Answer

    Chairman and CEO Gerald Plush stated the lowered loan growth guidance is a prudent measure due to commercial customer pullback, but he expects a return to higher growth later in the year. CFO Sharymar Yepez added that prepayment behavior reflects the high-rate environment and macro uncertainty. Regarding profitability, Yepez confirmed the charge-off level is expected to rise in Q2 due to a specific sale before normalizing. She also reaffirmed the target of a 1% ROA in the second half of 2025, supported by expected expense reductions from the mortgage business restructuring.

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    Russell Elliott Gunther's questions to Amerant Bancorp Inc (AMTB) leadership • Q4 2024

    Question

    Russell Elliott Gunther from D.A. Davidson & Co. inquired about Amerant's asset quality, seeking clarification on the expected $14.2 million reduction in non-performing loans (NPLs) and the trend for classified assets. He also asked for the outlook on net charge-offs, the allowance for credit losses (ACL), the future size of the investment portfolio, and the expense trajectory needed to achieve the company's efficiency ratio target.

    Answer

    Executive Sharymar Yepez confirmed the $14.2 million reduction would come from the NPL bucket and that classified assets are expected to decrease quarter-over-quarter. Executive Gerald Plush added that management is 'laser-focused' on reducing NPLs. Yepez reiterated net charge-off guidance of 25-30 basis points, noting the runoff of the indirect consumer portfolio will help. Plush stated the investment portfolio size should remain stable. Regarding expenses, Yepez explained that while the first half of the year has seasonally higher costs, the path to the target efficiency ratio is primarily driven by revenue growth, not significant expense reductions.

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    Russell Elliott Gunther's questions to Amerant Bancorp Inc (AMTB) leadership • Q3 2024

    Question

    Russell Elliott Gunther of Stephens Inc. inquired about the drivers of Amerant's strong loan growth and expectations for 2025. He also asked for the outlook on net interest margin (NIM) for Q4 and early 2025, including new loan yields and deposit beta assumptions under potential Fed rate cuts. Finally, he requested more detail on the strategic initiatives for the newly separated international banking unit.

    Answer

    Chairman and CEO Jerry Plush attributed the robust loan growth to the continuous addition of high-quality relationship officers across all business lines and Florida markets. CFO Sharymar Calderon projected the NIM would expand to the mid-3.50s in Q4 and reach 3.55% to 3.60% in the first half of 2025, driven by new loan yields of 7.5-8% and the securities portfolio repositioning. Regarding international banking, Mr. Plush explained the organizational change aims to increase focus on this area as a key, cost-effective funding source.

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    Russell Elliott Gunther's questions to Pinnacle Financial Partners Inc (PNFP) leadership

    Russell Elliott Gunther's questions to Pinnacle Financial Partners Inc (PNFP) leadership • Q4 2024

    Question

    Russell Gunther asked for clarification on potential actions with the bond book, specifically whether any restructuring would be incremental to the NII guide or a measure to support it if needed.

    Answer

    Harold Carpenter (executive) clarified that any potential tactics related to the securities portfolio are not included in the current guidance. He stated that if pursued, such actions would be incremental to the plan and would not be as influential as the major restructuring executed in Q2 2024.

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    Russell Elliott Gunther's questions to Pinnacle Financial Partners Inc (PNFP) leadership • Q3 2024

    Question

    Russell Elliott Gunther inquired about Pinnacle's current appetite for M&A, referencing the company's past success with acquisitions. He also asked for the outlook on BHG's revenue trajectory for 2025, given commentary about lower rates and improving credit trends.

    Answer

    Executive M. Turner stated that future bank acquisitions are very unlikely. He emphasized that the company's ability to drive rapid organic growth through hiring and market extensions offers a significantly lower risk profile than M&A. The previous acquisitions were highlighted to show the power of Pinnacle's organic growth model once applied to new markets. Regarding BHG, executive Harold Carpenter indicated that while 2025 planning is ongoing, he anticipates mid-to-high single-digit revenue growth for BHG next year, pending further analysis of their expense base.

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    Russell Elliott Gunther's questions to Atlantic Union Bankshares Corp (AUB) leadership

    Russell Elliott Gunther's questions to Atlantic Union Bankshares Corp (AUB) leadership • Q3 2024

    Question

    Russell Gunther of Stephens Inc. inquired about the expected pro forma net interest margin after the merger, the strategy for growing Sandy Spring's C&I loan portfolio, and the specific characteristics of the CRE loans slated for sale.

    Answer

    CFO Rob Gorman projected a pro forma NIM in the 3.75% to 3.85% range post-close, including accretion. CEO John Asbury and Head of Commercial Banking David Ring detailed the C&I growth plan, which involves deploying Atlantic Union's playbook and product capabilities like equipment finance into Sandy Spring's markets. Asbury also clarified the sale portfolio consists of high-quality, performing loans, primarily in retail and multifamily.

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