Amerant Bank, Florida’s largest community bank, continues the nationwide expansion of its mortgage subsidiary, Amerant Mortgage, through an acquisition.
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Amerant Bank, Florida’s largest community bank, continues to expand its nationwide footprint with the acquisition of its mortgage subsidiary, Amerant Mortgage. F&B Financial Group Launches Midwest hub in St. Louis, Missouri.
Chris Fox, president of F&B Financial, said: Amerant Mortgage Both companies said Thursday they are taking on sales leadership roles to continue expanding their retail mortgage banking footprint.
Tony Ileman
Amerant Mortgage President Tony Ealeman said: statement.
Founded in 2021 as a joint venture with former City National Bank executives Howard Levine, Tony Ileman, Marshall Martin and Joe Kiel, Amerant Mortgage is now a wholly owned subsidiary of Amerant Bancorp .
Amerant Mortgage expands its footprint in late 2021 with the acquisition of Boise, Idaho-based First Mortgage Company Inc. for $1 million. First Mortgage Company Inc. provides nationwide support to Amerant’s mortgage customers and referral partners. Amerant Mortgage then hired a team of industry veterans to expand its wholesale lending channel.
Amerant Mortgage It employs 27 to 43 mortgage officers in May 2022, according to the Nationwide Mortgage Licensing System. In addition, he has five sponsorships. Amerant Mortgage is licensed in Connecticut, Georgia, Idaho, Illinois, Kentucky, Maine, Maryland, Montana, New Hampshire, New Jersey, Puerto Rico, Rhode Island and South Carolina.
Amerant Bankoperates 23 banking centers (16 in South Florida and 7 in the Houston area) and employs 153 registered mortgage originators, up from 139 in May 2022.
in the latest Quarterly earnings reportParent company Amerant Bancorp Inc. said it has purchased $413 million in loans through Amerant Mortgage in 2022.
Amerant Mortgage becomes profitable
Standalone net income, including mortgage servicing rights income from affiliates, Amerant Mortgage | Source: Amerant Bancorp Inc. Presentation for investors
After posting losses in the fourth quarter of 2021 and the first quarter of 2022, Amerant Mortgage posted positive solo net income for the third straight quarter. During the quarter ended December 31, Amerant Mortgage generated stand-alone income of $911,000 after factoring in income of $1.68 million from mortgage servicing rights.
Mortgage applications were down 37% from the first quarter to the fourth quarter, but Amerant Mortgage cut operating expenses by 23% to $2.27 million at 184 loan applications. As of December 31, Amerant Mortgage had his 68 full-time equivalent employees, down from his peak of 79 at the end of March. As of January 12, Amerant Mortgage had 88 mortgage applications pending, totaling $63.6 million.
Amerant Bank also University of Miami We signed sponsorship deals with the athletic department in April and two professional sports teams in July. miami heat NBA franchise and Florida Panthers NHL team.
jerry plush
Amerant Chairman and CEO Jerry Plush said on a conference call with investment analysts: “The same is true of our partnership with the Miami Heat. Banking with us is an integral part of those partnerships.”
Amerant Bank has received approval from federal banking regulators to open two new full-service banking centers, Plush said. Lauderdale — later this year.
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