Results for the fourth quarter and for the year ended December 31, 2023 include a non-cash charge of $30M before taxes on the sale of non-relationship, Houston-based commercial real estate loans with an estimated outstanding principal balance of $401M, that was previously disclosed on January 16, 2024. These loans, of which $370 million were variable rate, were classified as held for sale as of December 31, 2023. The sale is expected to be completed on January 25, 2024.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on AMTB: