Metropolitan Bank Holding Corp. Launches Initial Public Offering of Common Stock

NEW YORK--(BUSINESS WIRE)-- Metropolitan Bank Holding Corp. (“Metropolitan”), parent of Metropolitan Commercial Bank, today announced the launch of its initial public offering of common stock. Metropolitan is offering 3,100,000 shares. The initial public offering price is currently expected to be between $31.00 and $34.00 per share. The common stock is expected to trade on the New York Stock Exchange under the symbol “MCB.”

The underwriters will have a 30-day option to purchase up to an additional 465,000 shares of common stock from Metropolitan. Metropolitan intends to use the net proceeds from the offering to support the growth in Metropolitan Commercial Bank’s loan portfolio, including the possibility of making larger loans due to its increased legal lending limit and for other general corporate purposes.

J.P. Morgan and Keefe, Bruyette & Woods, A Stifel Company, will act as joint book running managers, and Piper Jaffray will act as co-manager.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to the offering may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 Attention: Prospectus Department, or by calling 866-803-9204, or from Keefe, Bruyette & Woods, Inc., Attention: Equity Capital Markets, 787 Seventh Avenue, 4th Floor, New York, NY 10019; or by calling Keefe, Bruyette & Woods, Inc. toll-free at (800) 966-1559.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission (“SEC”) but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Metropolitan Bank Holding Corp.

Metropolitan Bank Holding Corp. is the holding company for Metropolitan Commercial Bank®, The Entrepreneurial Bank. Headquartered in New York City, the Bank operates full-service banking centers in Manhattan, Boro Park, Brooklyn and Great Neck, Long Island. Metropolitan Commercial Bank is a New York State chartered commercial bank, a FDIC member and an equal opportunity lender.

Cautionary Note Regarding Forward-Looking Statements

This press release includes “forward-looking statements,” including with respect to the initial public offering. Forward-looking statements are subject to many risks and uncertainties, including, but not limited to: changes in business plans as circumstances warrant; changes in general economic, business and political conditions, including changes in the financial markets; and other risks detailed in the “Cautionary Note Regarding Forward-Looking Statements,” “Risk Factors” and other sections of the registration statement filed with the SEC. Potential investors should note that the forward-looking statements included in this press release are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “might,” “should,” “could,” “predict,” “potential,” “believe,” “expect,” “attribute,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “projection,” “goal,” “target,” “outlook,” “aim,” “would,” “annualized” and “outlook,” or similar terminology. Any forward-looking statements presented herein are made only as of the date of this press release, and Metropolitan Bank Holding Corp does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise, except as may be required by law.

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For Metropolitan Bank Holding Corp.
Ed Nebb, 203-972-8350

Source: Metropolitan Bank Holding Corp.