Covington Represents MidFirst Bank in Acquisition of Amerant Bank’s Houston Locations

Covington Represents MidFirst Bank in Acquisition of Amerant Bank's Houston Locations

April 17, 2024

NEW YORK-Covington represented MidFirst Bank in its entry into a definitive agreement to acquire the Houston, Texas banking locations of Amerant Bank, the main subsidiary of Amerant Bancorp Inc. Upon closing, MidFirst will add six Amerant Bank locations to its footprint and will gain Amerant's Houston client relationships totaling approximately $576 million in deposits and $529 million in loans.

This transaction builds on MidFirst Bank's recent growth in Texas and accelerates its expansion strategy in the state. The transaction is subject to customary closing conditions, including regulatory approval, and is anticipated to close in the second half of 2024.

With $36.7 billion in assets, Oklahoma City-based MidFirst Bank is the largest privately owned bank in the nation and provides commercial banking, private banking, wealth management, and mortgage servicing nationally. MidFirst Bank has locations in Arizona, California, Colorado, Nevada, Oklahoma, Texas, and Utah. MidFirst Bank serves California through 1st Century Bank, a division of MidFirst Bank.

The Covington deal team was led by a corporate team including J. D. Weinberg, Charlotte May, and Laura Bleier, and included Heather Haberl and Zach Schutz (Real Estate), Randy Benjenk and Jeffrey Luther (Regulatory), Michael Francese and Zachary Agudelo (Employee Benefits), and Kurt Baca and Sumaya Bouadi (Tax).