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Loans
 6 Months Ended
Jun. 30, 2023
Receivables [Abstract]  
Loans Loans
a) Loans held for investment
Loans held for investment consist of the following loan classes:
(in thousands)June 30,
2023		December 31,
2022
Real estate loans
Commercial real estate
Non-owner occupied$1,645,224 $1,615,716 
Multi-family residential764,712 820,023 
Land development and construction loans314,010 273,174 
2,723,946 2,708,913 
Single-family residential1,285,857 1,102,845 
Owner occupied1,063,240 1,046,450 
5,073,043 4,858,208 
Commercial loans (1)1,577,209 1,381,234 
Loans to financial institutions and acceptances13,332 13,292 
Consumer loans and overdrafts503,432 604,460 
    Total loans held for investment, gross (2)$7,167,016 $6,857,194 
_________________
(1)At June 30, 2023 and December 31, 2022, includes equipment loans and leases totaling $47.7 million and $45.3 million, respectively.
(2)Excludes accrued interest receivable.


At June 30, 2023 and December 31, 2022, loans with outstanding principal balances of $1.9 billion and $1.2 billion, respectively, were pledged as collateral to secure advances from the FHLB.

The amounts above include loans under syndication facilities of approximately $403 million and $367 million at June 30, 2023 and December 31, 2022, respectively, which include Shared National Credit facilities and agreements to enter into credit agreements with other lenders (club deals) and other agreements. In addition, consumer loans and overdrafts in the table above include indirect consumer loans purchased totaling $312.3 million and $433.3 million at June 30, 2023 and December 31, 2022, respectively.


International loans included above were $87.6 million and $99.2 million at June 30, 2023 and December 31, 2022, respectively, mainly single-family residential loans. These loans are net of collateral of cash, cash equivalents or other financial instruments totaling $6.6 million and $6.3 million as of June 30, 2023 and December 31, 2022, respectively.
In the three and six month periods ended June 30, 2023, the Company purchased $6.2 million and $7.1 million, respectively, in single-family residential loans. There were no significant purchases of single-family residential loans in the three and six month periods ended June 30, 2022. In the three and six month periods ended June 30, 2022, the Company purchased $130 million and $254 million, respectively, in indirect consumer loans. There were no purchases of indirect consumer loans in the three and six month periods ended June 30, 2023.
The age analyses of the loan portfolio by class as of June 30, 2023 and December 31, 2022, are summarized in the following tables:
June 30, 2023
Total Loans,
Net of
Unearned
Income		Past Due
(in thousands)Current30-59
Days		60-89
Days		Greater than
90 Days		Total Past
Due
Real estate loans
Commercial real estate
Non-owner occupied$1,645,224 $1,643,403 $— $1,821 $— $1,821 
Multi-family residential764,712 740,169 24,543 — — 24,543 
Land development and construction loans314,010 307,513 6,497 — — 6,497 
2,723,946 2,691,085 31,040 1,821 — 32,861 
Single-family residential1,285,857 1,283,089 — 2,210 558 2,768 
Owner occupied1,063,240 1,057,795 665 — 4,780 5,445 
5,073,043 5,031,969 31,705 4,031 5,338 41,074 
Commercial loans1,577,209 1,564,989 1,178 394 10,648 12,220 
Loans to financial institutions and acceptances13,332 13,332 — — — — 
Consumer loans and overdrafts503,432 497,948 2,854 2,552 78 5,484 
$7,167,016 $7,108,238 $35,737 $6,977 $16,064 $58,778 

December 31, 2022
Total Loans,
Net of
Unearned
Income		Past Due
(in thousands)Current30-59
Days		60-89
Days		Greater than
90 Days		Total Past
Due
Real estate loans
Commercial real estate
Non-owner occupied$1,615,716 $1,615,716 $— $— $— $— 
Multi-family residential820,023 818,394 1,387 242 — 1,629 
Land development and construction loans273,174 273,174 — — — — 
2,708,913 2,707,284 1,387 242 — 1,629 
Single-family residential1,102,845 1,098,310 3,140 150 1,245 4,535 
Owner occupied1,046,450 1,039,928 172 6,014 336 6,522 
4,858,208 4,845,522 4,699 6,406 1,581 12,686 
Commercial loans1,381,234 1,373,042 1,523 475 6,194 8,192 
Loans to financial institutions and acceptances13,292 13,292 — — — — 
Consumer loans and overdrafts604,460 601,921 2,439 62 38 2,539 
$6,857,194 $6,833,777 $8,661 $6,943 $7,813 $23,417 
Nonaccrual status
The following tables present the amortized cost basis of loans on nonaccrual status and loans past due over 90 days and still accruing as of June 30, 2023 and December 31, 2022:
As of June 30, 2023
(in thousands)Nonaccrual Loans With No Related AllowanceNonaccrual Loans With Related AllowanceTotal Nonaccrual Loans (1)Loans Past Due Over 90 Days and Still Accruing
Real estate loans
Commercial real estate
Nonowner occupied$— $1,696 $1,696 $— 
Multi-family residential— 24,306 $24,306 — 
— 26,002 26,002 — 
Single-family residential849 832 $1,681 302 
Owner occupied6,688 202 6,890 — 
7,537 27,036 $34,573 302 
Commercial loans407 11,834 $12,241 — 
Consumer loans and overdrafts1 — 1 78 
Total$7,945 $38,870 $46,815 $380 
As of December 31, 2022
(in thousands)Nonaccrual Loans With No Related AllowanceNonaccrual Loans With Related AllowanceTotal Nonaccrual Loans (1)Loans Past Due Over 90 Days and Still Accruing
Real estate loans
Commercial real estate
Nonowner occupied$20,057 $— $20,057 $— 
Multi-family residential— — — — 
20,057 — 20,057 — 
Single-family residential— 1,526 1,526 253 
Owner occupied5,936 334 6,270 — 
25,993 1,860 27,853 253 
Commercial loans482 8,789 9,271 183 
Consumer loans and overdrafts— 4 4 35 
Total$26,475 $10,653 $37,128 $471 
The Company did not recognize any interest income on nonaccrual loans during the three and six month periods ended June 30, 2023 and 2022.
b) Loans held for sale
Loans held for sale consist of the following loan classes:
(in thousands)June 30,
2023
December 31, 2022
Loans held for sale at fair value
Land development and construction loans (1)$3,726 $9,424 
Single-family residential (2)46,216 53,014 
Total loans held for sale at fair value (3)(4)(5)$49,942 $65,289 
_______________
(1)In the six months ended June 30, 2023, the Company transferred approximately $13 million in land development and construction loans held for sale to the loans held for investment category.
(2)In the six months ended June 30, 2023, the Company transferred approximately $64 million in single-family residential loans held for sale to the loans held for investment category.
(3)Loans held for sale in connection with Amerant Mortgage’s ongoing business.
(4)Remained current and in accrual status at each of the periods shown.
(5)Excludes accrued interest receivable.


c) Concentration of risk

The Company’s loan portfolio is dependent mostly on the economic conditions that affect South Florida, Tampa Bay and the greater Houston and New York City areas. The Company manages diversification of its loan portfolio held for investment and held for sale, through policies with limitations primarily for exposure to individual or related debtors, economic sectors, geography, loan types, and for country risk exposure.


d) Accrued interest receivable on loans

Accrued interest receivable on total loans, including loans held for investment and held for sale, was $32.9 million and $27.7 million as of June 30, 2023 and December 31, 2022, respectively. In the three and six month periods ended June 30, 2023, the Company reversed approximately $0.2 million and $0.4 million, respectively, of accrued interest receivable against interest income in connection with real estate and commercial loans placed in non-accrual status during the periods. In the three months ended June 30, 2022, the Company reversed approximately $0.1 million of accrued interest receivable against interest income in connection with consumer loans and overdrafts placed in non-accrual status during the period. In the six months ended June 30, 2022, the Company reversed approximately $0.3 million of accrued interest receivable against interest income in connection with loans placed in non-accrual status during the period, including: (i) $0.2 million related to consumer loans and overdrafts, and (ii) a total of $0.1 million related to real estate and commercial loans.