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Amerant Bancorp to redeem trust preferred capital securities

Coral Gables, Fla.-based Amerant Bancorp Inc. on Jan. 30 will redeem all $26.8 million of its outstanding 8.90% trust preferred capital securities issued by Capital Trust I.

The securities will be redeemed at a contractual call price of 100.00%. All related junior subordinated debentures issued by Amerant Bancorp to Capital Trust I will be repaid as part of the redemption.

Amerant Bancorp Vice Chairman and CEO Millar Wilson said in a news release that the redemption of the trust preferred capital securities will reduce the company's annual interest expense by about $2.4 million.