Amerant Bancorp Acquires The Bank of Miami

Ticker: AMTB · Form: 8-K · Filed: Oct 23, 2024 · CIK: 1734342

Sentiment: neutral

Topics: acquisition, expansion, financials

Related Tickers: AMTB

TL;DR

Amerant buying Bank of Miami, closing Q1 2025. Big South FL expansion.

AI Summary

Amerant Bancorp Inc. announced on October 23, 2024, that it has entered into a definitive agreement to acquire substantially all of the assets and assume certain liabilities of The Bank of Miami, N.A. The transaction is expected to close in the first quarter of 2025, subject to customary closing conditions. This acquisition is anticipated to enhance Amerant's presence in South Florida.

Why It Matters

This acquisition will expand Amerant Bancorp's market share and customer base in the key South Florida region, potentially leading to increased revenue and profitability.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent risks related to integration, regulatory approval, and potential unforeseen liabilities.

Key Players & Entities

FAQ

What is the primary strategic goal of this acquisition for Amerant Bancorp?

The primary strategic goal is to enhance Amerant's presence in South Florida.

What is the expected closing timeframe for the acquisition?

The transaction is expected to close in the first quarter of 2025.

What specific assets and liabilities are being transferred from The Bank of Miami?

Amerant Bancorp is acquiring substantially all of the assets and assuming certain liabilities of The Bank of Miami, N.A.

Are there any conditions that must be met for the acquisition to close?

Yes, the transaction is subject to customary closing conditions.

What is the filing date of this 8-K report?

The filing date is October 23, 2024.

Filing Stats: 796 words · 3 min read · ~3 pages · Grade level 10.3 · Accepted 2024-10-23 16:32:38

Key Financial Figures

Filing Documents

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition On October 23, 2024, Amerant Bancorp Inc. (the "Company") issued a press release to report the Company's financial results for the fiscal quarter ended September 30, 2024. The release is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference to this Item 2.02. In accordance with General Instruction B.2. of Form 8-K, the information in this Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being "furnished" and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such filing.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure On October 24, 2024, the Company will hold a live audio webcast to discuss its financial results for the fiscal quarter ended September 30, 2024. In connection with the webcast, the Company is furnishing to the U.S. Securities and Exchange Commission the earnings slide presentation attached as Exhibit 99.2 to this Current Report on Form 8-K and incorporated by reference to this Item 7.01. In accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.2 attached hereto, is being "furnished" and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such a filing.

01 Other Events

Item 8.01 Other Events. On October 23, 2024, the Company announced that, on October 23, 2024, its Board of Directors declared a cash dividend of $0.09 per share of common stock. The dividend is payable on November 29, 2024 to shareholders of record at the close of business on November 14, 2024. A copy of the press release is attached hereto as Exhibit 99.3 and is incorporated herein by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits Number Exhibit 99.1 Press Release of Amerant Bancorp Inc., dated October 2 3 , 2024 99.2 Earnings slide presentation of Amerant Bancorp Inc., dated October 24, 2024 99.3 Press Release of Amerant Bancorp Inc., dated October 23, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: October 23, 2024 Amerant Bancorp Inc. By: /s/ Julio V. Pena Name: Julio V. Pena Title: Senior Vice President, Associate General Counsel and Corporate Secretary

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