Amerant Bancorp Inc. announced on September 14, 2026, the commencement of a registered public offering of senior notes due 2031. The company entered into an underwriting agreement with Raymond James & Associates, Inc. to sell $50 million in aggregate principal amount of these notes.
The notes are unsecured and unsubordinated. They rank equally in priority among themselves and with all of the company's other existing and future unsecured and unsubordinated indebtedness. They are senior in right of payment to all of the company's existing and future subordinated indebtedness.
The notes bear interest at a rate of 7.00% per annum. Interest payments will be made semi-annually in arrears on March 17 and September 17 of each year, beginning on March 17, 2027. The notes are set to mature on September 17, 2031.
The offering was completed on September 17, 2026. The company received net proceeds of approximately $48.4 million after deducting the underwriter's discount and certain offering expenses.
Amerant stated that it intends to use the net proceeds for general corporate purposes. These purposes may include working capital, providing capital to support the organic growth of Amerant Bank, N.A., repaying outstanding indebtedness, and repurchasing shares of the company's Class A common stock under its stock repurchase program.
