The Bank Slate


Amerant in Fla. shares more details on sale of Houston operations

Amerant Bancorp in Coral Gables, Fla., shared more information on the pending sale of its Houston operations.

The $9.8 billion-asset company agreed in April to sell five branches, $576 million of deposits and $529 million of loans to MidFirst Bank in Oklahoma City in a deal expected to close by the end of this year.

Amerant disclosed in a regulatory filing that it expects to sell the operations at a $13 million premium, which will be partially offset by $1 million to $1.5 million in legal and investment banking fees.

The company expects to record $5.5 million of one-time charges in the second-quarter, including $3.4 million in market-value adjustments for two branches owned and $1.3 million in loan valuation allowance due to deferred loan costs.

Those charges were partially offset by a $4.4 million release in credit reserves after moving the loans to held for sale.

Leave a Reply

Your email address will not be published. Required fields are marked *