On November 6, 2025, Amerant Bancorp announced that Chairman and CEO Jerry Plush would step down effective November 5, 2025, following a board decision made on November 4. The board appointed Senior Executive Vice President and Chief Operating Officer Carlos Iafigliola as interim chief executive officer, while former Lead Independent Director Odilon Almeida Jr. became the new board chair.
Iafigliola brings nearly three decades of banking experience, having led Amerant’s core conversion, sold its Houston franchise, and driven the bank’s digital transformation and operational modernization. His track record of managing large-scale change initiatives positions him to preserve continuity and accelerate the Florida‑centric growth strategy that Amerant has pursued since divesting non‑core assets.
Amerant’s most recent quarterly results underscored the urgency of the leadership transition. In the third quarter of 2025, the bank reported earnings per share of $0.35, missing the consensus estimate of $0.51 by 31.4%. Revenue rose to $111.44 million, slightly above expectations, while net income climbed to $14.76 million from a $48.16 million loss a year earlier. The earnings miss was largely driven by higher-than‑expected credit loss provisions and modest interest‑rate gains that were offset by a 4.5% increase in operating expenses, reflecting the bank’s investment in technology and risk‑management upgrades.
Strategically, Amerant is sharpening its focus on Florida markets after selling its Houston franchise. The bank’s digital transformation program, which Iafigliola helped launch, is expected to reduce operating costs and improve customer experience. The interim CEO’s mandate is to continue this trajectory, strengthen risk controls, and improve cost efficiency while the board searches for a permanent leader who can sustain the bank’s growth momentum.
Management emphasized confidence in the transition. Iafigliola said, “I am honored to lead Amerant through this next phase of sustainable and profitable growth,” while Almeida Jr. noted that the board trusts Iafigliola’s operational expertise to “drive the execution of our strategy, with a particular focus on enhancing risk management and improving the cost structure of the bank.”
Investors have reacted cautiously, with Amerant’s stock down 21% year‑to‑date as of November 6. The market’s concern centers on the Q3 earnings miss and the bank’s ongoing investment in technology, but the board’s swift appointment of an experienced interim CEO signals stability and a clear path forward.
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