Amerant Bancorp Inc. | Stephens

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Financial Advisor

Amerant Bancorp Inc.

$13 Million 04/17/2024 Depository Pending
Public Companies
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Transaction Details

  • Amerant Bancorp Inc. (NYSE: AMTB) today announced that its wholly owned subsidiary, Amerant Bank, N.A., entered into a definitive purchase and assumption agreement under which MidFirst Bank, based in Oklahoma City, Oklahoma, will acquire Amerant Bank’s banking operations and six branches in the Houston, Texas metropolitan area
  • The transaction includes approximately $576 million of deposits and $529 million in loans
  • The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the second half of 2024
  • 100% cash consideration paid to Amerant
  • $13.0 million fixed premium paid(1) to Amerant from divestiture of the Houston Franchise
Amerant Bancorp Inc. Map
Sources: Company Press Release, Company Investor Presentation, S&P Global Market Intelligence.
  1. (1) Fixed purchase price; in the event total noninterest bearing or total deposits excluding ICS accounts declines ~15% the purchase price changes to a floating premium %; deposit premium minimum is $9.25 million.
    (2) MidFirst Bank also assumes Amerant’s remaining Houston branch lease obligations.
    (3) Acquired $576 million in deposits less $292 million CD’s.
    (4) Consolidated regulatory capital used.

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