Amerant Celebrates 40th Anniversary
Bank looks to further legacy as both community and industry leader
CORAL GABLES, Fla., Sept. 17, 2019 (GLOBE NEWSWIRE) -- Amerant proudly celebrates its 40-year milestone anniversary providing banking and financial services to its valued customers. Since its chartering in 1979, Amerant has grown to reach almost $8 billion in assets with 23 banking centers in its network, including 15 in South Florida and eight in Houston, Texas, as well as loan production offices in Dallas and New York City.
“As a company with deep roots in the South Florida market and increasing presence in Texas and New York, we celebrate these last 40 years with immense pride,” said Millar Wilson, Vice-Chairman and CEO of Amerant. “While we proudly remember and celebrate our bank’s heritage, our sights are fully set on the future, continuing to grow as a relationship-focused community bank, furthering our mission to support our customers throughout their financial journeys and enriching the lives of those who live and work in the communities we serve.”
Formerly known as Mercantil Bank, the company announced Amerant as the new brand identity for its businesses in 2018, cementing another step in its long-term vision for exceptional customer service and profitable growth as an independent organization in its South Florida, Greater Houston, and New York City markets.
“Playing an instrumental role in the company’s four-decade-long success, our team of professionals has continuously worked to raise the bar for Amerant as a community bank through their proven commitment to our customers and communities,” said Wilson. “Our team is one of the bank’s biggest assets.”
With a rich history in the banking and finance industry, here is a look back at the last 40 years that have made Amerant the company it is today:
- Originally chartered as Gold Coast National Bank, later becoming Commercebank, N.A., the company was founded in North Miami Beach, Florida in 1979.
- With $53 million in assets and a second location in Coral Gables, Fla., Commercebank was acquired by Mercantil Servicios Financieros (MSF) in December 1987.
- In 1997, the Company relocated its corporate headquarters to its current home in Coral Gables. By the end of the decade, the Company had seven banking centers in the community and $1.2 billion in assets.
- In 2001 the bank opened a Commercial Real Estate Lending Office in New York and surpassed $2 billion in assets, making it one of the largest privately-owned banks headquartered in South Florida.
- In the early 2000’s the company formed Commercebank Investment Services, a wholly-owned broker-dealer subsidiary to offer customers investment services. The company also established a footprint in Houston, Texas, with the opening of a Loan Production Office (LPO), formed a Commercial Banking International Division, and had assets that topped $3 billion. In 2004, Commercebank formed Commercebank Trust Company, a wholly-owned trust and estate planning subsidiary.
- In 2005, the company opened the first full-service banking center in Houston, Texas. In 2006, Commercebank acquired Florida Savings Bank and its assets reached the $4 billion mark.
- In 2007, Commercebank changed its name to Mercantil Commercebank, unveiling its new brand and leveraging its local identity along with the global strength of MSF. The company also formed a Private Banking Division and surpassed $5 billion in total assets, with 15 banking centers.
- In 2014, the company purchased the prominent building that serves as its current headquarters, located in 220 Alhambra Circle, Coral Gables and strengthened its presence in the Greater Houston area.
- In 2017, Mercantil Commercebank changed its name to Mercantil Bank, N.A. with over $8 billion in assets and 22 banking centers in South Florida, Texas and New York.
- On December 15, 2017, Mercantil Bank, and its U.S. holding company, Mercantil Bank Holding Corporation, announced its Spin-off from MSF, the next step in a long-term strategic initiative to further expand the Bank’s business in the U.S.
- In 2018, Mercantil Bank Holding Corporation became a publicly traded organization when it obtained approval from the Nasdaq Global Select Market. In October, Amerant, the new brand, was announced. In December, Amerant concluded its Initial Public Offering.
About Amerant Bancorp Inc.
Amerant Bancorp Inc. (NASDAQ: AMTB and AMTBB) is a bank holding company headquartered in Coral Gables, Florida. The Company operates through its subsidiaries, Amerant Bank, N.A. (the “Bank”), Amerant Investments, Inc. and Amerant Trust, N.A. The Company provides individuals and businesses in the U.S., as well as select international clients, with deposit, credit and wealth management services. The Bank, which has operated for 40 years, is the largest community bank headquartered in Florida. The Bank operates 23 banking centers - 15 in South Florida and 8 in the Houston, Texas area - and loan production offices in Dallas, Texas and New York, New York. Please visit www.amerantbank.com or https://investor.amerantbank.com for more information.
Released September 17, 2019