Finance
Amerant Bancorp, the Coral Gables–based parent company of Amerant Bank, announced that Chair and CEO Jerry Plush has stepped down, effective immediately. The decision, described as mutual between Plush and the board, comes just a week after the bank’s third-quarter earnings call, during which the outgoing chief executive highlighted a concerning rise in nonperforming assets.
Carlos Iafigliola, the bank’s chief operating officer, has been appointed interim CEO, while Odilon Almeida Jr., formerly the lead independent director, will assume the role of board chair. The bank said it will launch an executive search that includes both internal and external candidates.
During the third quarter, Amerant’s nonperforming assets (NPAs) climbed to $140 million, or 1.3% of total assets, up from $98 million in the second quarter. The increase was largely tied to commercial real estate (CRE) and commercial loan exposures that have put pressure on the bank’s performance.
Analysts say the issue weighed heavily on investor confidence. Stephen Scouten, a banking analyst at Piper Sandler, wrote that the “increase in problem commercial real estate and commercial loans put pressure on management credibility.”
Plush acknowledged the challenge during the recent earnings call, calling it the bank’s top priority: “There is no question this is job one. We are realigning personnel to drive resolution as prudently and expeditiously as possible and to proactively address upcoming covenant testing and financial statement updates.”
Interim CEO Carlos Iafigliola brings over two decades of experience with Amerant. He began his career in the bank’s treasury department, later rising to senior executive vice president and COO, where he helped lead operational restructuring, the bank’s core system conversion, and the sale of its Houston franchise.
The board expressed full confidence in Iafigliola’s ability to stabilize operations and strengthen risk management. “Carlos will drive the execution of our strategy with a focus on enhancing risk management and improving the cost structure of the bank,” Almeida said in a statement.
Plush’s departure, the bank confirmed, was not related to compliance or ethical concerns. Instead, the transition was part of a broader effort to position Amerant for improved efficiency and sustainable growth.
Amerant’s leadership change reflects a broader challenge facing regional banks nationwide as rising interest rates and tighter credit conditions weigh on loan performance. Many mid-sized lenders have seen increasing stress in commercial real estate portfolios, prompting renewed attention to asset quality and risk management practices.
With approximately $10.4 billion in total assets, Amerant aims to balance its loan portfolio risk while continuing to strengthen deposit growth and operational efficiency through technology and disciplined management.
Amerant’s leadership transition comes at a pivotal time for the regional banking sector, as lenders face mounting credit risks and heightened investor scrutiny. The board’s swift action signals a renewed focus on risk control, cost discipline, and strategic growth—key factors that will shape Amerant’s path forward in an uncertain economic climate.
Or Sushan
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December 31, 2025
Or Sushan
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December 31, 2025
Or Sushan
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December 31, 2025
