Amerant Bank Enters Asset Sale Agreement with Prime Finance Advisor for $370M Transaction
Portfolio Pulse from Benzinga Newsdesk
Amerant Bank, a subsidiary of Amerant Bancorp, Inc. (AMTB), has agreed to sell a loan portfolio worth approximately $401 million to Prime Finance Advisor for $370 million. The portfolio consists of non-relationship multifamily commercial real estate loans from the Bank's Houston, Texas portfolio. The sale includes customary terms and is expected to close by the end of January 2024.
January 16, 2024 | 12:16 pm
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Amerant Bancorp, Inc. is set to sell a significant loan portfolio through its subsidiary, which could positively impact its liquidity and financial position.
The sale of the loan portfolio is likely to be viewed positively by investors as it may improve Amerant Bancorp's liquidity and reduce exposure to non-relationship loans. The transaction amount is substantial, and the successful completion of the deal could lead to a short-term positive impact on AMTB's stock price.
CONFIDENCE 85
IMPORTANCE 70
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