Oklahoma-based MidFirst Bank has finalised the acquisition of Amerant Bank’s banking operations and branches in the Houston, Texas metropolitan area, for an undisclosed sum.
The deal was announced in April 2024.
It includes approximately $573.9m in deposits and $479.2m in loans.
MidFirst Bank chairman and CEO Jeff Records said: “Houston is a highly desirable and fast-growing market, and this acquisition is important to our growth plans for Texas.”
As part of the deal, MidFirst took on Amerant Bank’s Houston client relationships, while adding 45 employees and six banking locations.
Amerant Bank, a subsidiary of Amerant Bancorp, has begun transitioning its Houston banking locations and accounts to MidFirst Bank.
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The transition is scheduled over the course of the Veterans Day weekend, with all former Amerant Bank locations in Houston reopening as MidFirst Bank branches on 12 November.
Amerant Bank chairman and CEO Jerry Plush said: “We are pleased to announce the successful completion of the sale of our Houston banking operations to MidFirst Bank.
“This strategic decision allows us to focus on accelerating growth in our core markets in Florida as we execute on our expansion plans in both the south Florida and greater Tampa markets.”
For this transaction, MidFirst Bank received financial advice from Raymond James & Associates and legal counsel from Covington & Burling.
MidFirst Bank Houston Market President Brian Heflin added: “Our team has significant experience and strong relationships in Houston, and we look forward to a bright future as we continue to grow and serve the community.”
Amerant Bank was advised by Stephens on financial aspects and Squire Patton Boggs (US) provided legal advice.
