GlobeNewswire Inc | Jan 26, 2021 08:00AM EST

January 26, 2021

CORAL GABLES, Fla., Jan. 26, 2021 (GLOBE NEWSWIRE) -- Responding to growing demand for residential mortgages in the midst of Floridas booming residential real estate market, Amerant Bank, N.A. (Amerant), one of the largest community banks headquartered in Florida, today announced the formation of Amerant Mortgage, LLC.

Amerant Mortgage is a joint venture (JV) between the bank and a team of highly specialized residential real estate executives with a long track record of success in the residential mortgage arena, most recently with one of the largest Florida-based financial institutions. Amerant will retain majority ownership of the JV.

Howard Levine, Tony Eelman, Marshall Martin, and Joe Keel are all respected industry veterans with a shared vision of creating a large-scale, highly efficient, and profitable nation-wide mortgage banking business.

The focus of Amerant Mortgage will be on driving an outstanding client experience and leveraging strategic relationships to realize consistent revenue and building franchise value. The existing residential mortgage team for Amerant will be rolled into the new JV.

It is evident that Floridas residential real estate market is booming, said Millar Wilson, Vice-Chairman and CEO of Amerant. The ongoing positive sales trajectory, coupled with generationally low interest rates, which are expected to continue throughout 2021, has created unprecedented momentum in the residential mortgage origination space.

Through the establishment of Amerant Mortgage, we have an exceptional opportunity to become increasingly active players in this industry, adds Howard Levine, Executive Vice President and Chief Revenue Officer for Amerant Mortgage.This JV is a truly unique business model. This model combines robust product offerings with exceptional service - an absolute win/win for the consumer, continued Levine.

Amerant Mortgage will offer the full complement of residential lending solutions to include conventional, government, Jumbo loans, and unique product offerings, ideally positioning the organization as a true market leader.

We are confident that this exciting JV will continue to further Amerants footprint in the communities we serve. The businesses to be created under Amerant Mortgage are consistent with our strategy of diversifying and increasing non-interest income at Amerant Bancorp. It is another example of diligently working to provide our customers the products that serve their financial needs, while providing an exceptional customer experience, concludes Wilson.

For additional information about Amerant, please visit www.amerantbank.com and follow the Company on Instagram at @AmerantBank, and Facebook at https://www.facebook.com/AmerantBank/.

About Amerant Amerant Bancorp Inc. 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., Amerant Trust, N.A, and Elant Bank and Trust Ltd. 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 over 40 years, is one of the largest community banks headquartered in Florida. The Bank operates 25 banking centers 18 in South Florida, 7 in the Houston, Texas area, and loan production offices in Dallas, Texas and New York, New York. For more information, please visit www.amerantbank.com or https://investor.amerantbank.com.

Media Contacts:Israel Krepsikreps@krepspr.com786.374.3434

Veronica Villegas Baldwinvvillegas@krepspr.com305.905.5440