Effective on December 31, 2018, and in connection with the closing of the Offering, Mr. Gustavo Vollmer resigned as Chairman of the Mercantil Bank Holding Corporation Board of Directors . Mr. Vollmer is not resigning from the Board and will continue to serve as a Company director. Effective December 31, 2018, Mr. Frederick C. Copeland, Jr. will serve as the non-executive Chairman of the Board.