Will result in significant cost savings and improved operational efficiency
CORAL GABLES, Fla., November 04, 2021 (GLOBE NEWSWIRE) – Amerant Bancorp Inc. (NASDAQ: AMTB and AMTBB) (“Amerant”) today announced that Amerant Bank, NA, its principal operating subsidiary and l ‘one of the largest community banks headquartered in Florida (the “Bank”), has entered into a new multi-year outsourcing agreement with financial technology leader FIS® (NYSE: FIS), the world’s largest technology provider banking and payment services, in order to assume full responsibility for a large number of Bank support functions and staff, including certain back-office operations. Under this new outsourcing relationship, the Bank expects to achieve estimated annual savings of approximately $ 12 million, while achieving greater operational efficiency and providing advanced solutions and services to its clients.
By partnering with FIS for the duration of this multi-year agreement, Amerant is leveraging FIS’s expertise to create powerful service capabilities for its customers and reduce Amerant’s operating expenses by outsourcing 90 workstations. at FIS.
“FIS offers best-in-class integrated banking services as well as next-generation digital banking solutions, making us a destination for innovators like Amerant Bank” said Bruce Lowthers, FIS President. “ We are delighted to partner with a financial institution dedicated to community banking services and delivering a superior digital experience to their customers through our services and solutions. ”
“We are delighted to begin this relationship with FIS and the positive impact it will have on our operations by dramatically improving efficiency. We are very optimistic about this new phase of our business transformation journey, ”said Jerry Plush, Vice President and CEO, Amerant. “We believe this partnership will allow us to meet our operational efficiency goals more quickly and continue to grow our business profitably. “
Caution Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, including statements regarding the outsourcing arrangement with FIS, our ability to achieve savings and greater efficiency. operational and to achieve our efficiency targets, as well as statements regarding the Company’s goals, expectations and intentions and other statements that are not historical facts. All statements other than statements of historical fact are statements which may be forward-looking statements. You can identify these forward-looking statements by using words such as “could”, “will”, “anticipate”, “assume”, “should”, “indicate”, “want”, “believe”, “contemplate,” “anticipate” “,” Estimate “,” continue “,” plan “,” point to “,” project “,” could “,” intend “,” target “,” objectives “,” outlook “,” model “” devoted ”,“ create ”and other similar words and phrases from the future.
Forward-looking statements, including those relating to our new outsourcing relationship with FIS and the expected benefits of this relationship, as well as other statements regarding our beliefs, plans, objectives, goals, expectations, expectations, estimates and intentions, imply risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performances, achievements or financial position of the Company to be materially different from the future results, performances, achievements or financial position expressed or implied by these looking statements. You should not rely on forward-looking statements as predictions of future events. You should not expect us to update any forward-looking statements, except as required by law. All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary statement, as well as the risks and uncertainties described in the “Risk Factors” section of our annual report on Form 10-K for the year ended. the 31st of December. , 2020, in our quarterly report on Form 10-Q for the quarter ended June 30, 2021 and in our other documents filed with the United States Securities and Exchange Commission (the “SEC”), which are available on the website SEC Web www.sec. govt.
About Amerant Bancorp Inc. (NASDAQ: AMTB and AMTBB)
Amerant Bancorp Inc. is a banking holding company headquartered in Coral Gables, Florida since 1979. The Company operates its business through its principal subsidiary, Amerant Bank, NA (the “Bank”), as well as its other subsidiaries: Amerant Investments, Inc., Elant Bank and Trust Ltd. and Amerant Mortgage, LLC. The Company provides deposit, credit and wealth management services to individuals and businesses in the United States, as well as to certain international clients. The bank, which has been in existence for over 40 years, is the second largest community bank headquartered in Florida. The Bank operates 24 banking centers – 17 in South Florida and 7 in Houston, Texas. For more information, visit Investor.amerantbank.com.