Amerant Bancorp discloses sale of $71.4M loan portfolio

In a regulatory filing last night, Amerant Bancorp (AMTB) disclosed that its wholly-owned subsidiary Amerant Bank, N.A., on the one hand, and Temple View Capital Funding LP and TVC Funding VII LLC, on the other hand, entered into a Master Loan Sale Agreement pursuant to which the Bank sold Purchasers a portfolio of 323 business-purpose, investment property, residential mortgage loans. The purchase price was approximately $58.9M and was paid in cash. The outstanding principal balance of the loans was approximately $71.4M. The Agreement contains customary representations, warranties, covenants, repurchase obligations and indemnification provisions, the bank noted.