MidFirst Bank to Acquire Houston Banking Locations of Amerant Bank
April 17 2024 - 5:05PM
Business Wire
Acquisition includes Houston operations and
client relationships, building on MidFirst’s recent growth in Texas
and the Western United States
MidFirst Bank ("MidFirst" or the “Company”), the largest
privately owned bank in the nation, has entered into a definitive
agreement to acquire the Houston, Texas banking locations of
Amerant Bank, the main subsidiary of Amerant Bancorp Inc. (NYSE:
AMTB). Upon closing expected later this year, MidFirst will add six
Amerant Bank locations to the Company’s footprint and will gain
Amerant’s Houston client relationships totaling approximately $576
million in deposits and $529 million in loans.
This transaction builds on MidFirst Bank’s recent growth in
Texas and accelerates the Company’s expansion strategy in the
state. The additional Houston banking locations will better
position MidFirst to deliver the Company’s award-winning customer
service in the Houston market and invest in the local
community.
“Houston is a strategic market for us and the acquisition of
Amerant Bank’s Houston locations supports our growth plans,” said
MidFirst Bank Chairman and CEO Jeff Records. “We have many clients
already in Texas, and have expanded in recent years to Houston,
Dallas and San Antonio. With this acquisition, MidFirst will have a
greater presence in an attractive and growing market and the
ability to expand our banking services.”
MidFirst Bank will gain experienced bankers covering commercial
and business banking, private banking and full-service retail
banking. Upon closing, all 45 Amerant Bank employees are expected
to join MidFirst and be able to leverage the Company’s successful
platform, which provides the financial products of a large bank
with the individualized service of a community bank.
MidFirst Bank Houston Market Executive Brian Heflin added, “The
Amerant Bank team has built a strong reputation in Houston and
shares our commitment to customer service and supporting the
communities we serve. We look forward to welcoming the Amerant
Houston team and their clients to MidFirst, and having the
opportunity to demonstrate the quality of the banking services and
culture of MidFirst.”
Upon completion of the transaction, Amerant Bank locations will
be operated as MidFirst Bank locations. The transaction is subject
to customary closing conditions, including regulatory approval, and
is anticipated to close in the second half of 2024.
Raymond James & Associates, Inc. served as financial adviser
and Covington & Burling LLP provided legal counsel to MidFirst
Bank. Stephens Inc. served as financial adviser and Squire Patton
Boggs (US) LLP provided legal counsel to Amerant.
About MidFirst Bank
With $36.7 billion in assets, Oklahoma City-based MidFirst Bank
is the largest privately owned bank in the nation and provides
commercial banking, private banking, wealth management and mortgage
servicing nationally. MidFirst Bank has locations in Arizona,
California, Colorado, Nevada, Oklahoma, Texas and Utah. MidFirst
Bank serves California through 1st Century Bank, a division of
MidFirst Bank.
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Derek Caswell MidFirst Bank 405.767.7475
derek.caswell@midfirst.com