Amerant Bancorp Inc., through its subsidiary Amerant Bank, N.A., completed the sale of its banking operations and six branches in the Houston, Texas metropolitan area to MidFirst Bank on November 8, 2024. This strategic divestiture included approximately $573.9 million of deposits and $479.2 million in loans. The Houston client relationships and locations will transition to MidFirst Bank, with branches reopening under the MidFirst brand on November 12.
Chairman and CEO Jerry Plush stated that this strategic decision allows Amerant to intensify its focus on accelerating growth within its core markets in Florida. The company plans to execute expansion initiatives in both the South Florida and greater Tampa markets. Following the sale, Amerant Bank now operates 19 banking centers, with 18 in South Florida and one in Tampa, Florida.
This move underscores Amerant's commitment to streamlining its operations and concentrating resources on its Florida-first blueprint. The divestiture is expected to enhance the company's ability to achieve its goal of becoming the bank of choice in its targeted growth regions.
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