Metropolitan Bank Holding $163 million follow-on offering
Davis Polk advised the joint book-running managers in connection with the $163 million follow-on offering of 2,300,000 shares of common stock of Metropolitan Bank Holding Corp., which includes the full exercise of the underwriters’ option to purchase additional shares. Metropolitan Bank Holding’s common stock is traded on the New York Stock Exchange under the symbol “MCB.”
Metropolitan Bank Holding Corp. is the holding company for Metropolitan Commercial Bank. The Bank provides a broad range of business, commercial and personal banking products and services to small and middle-market businesses, public entities and affluent individuals in the New York metropolitan area. Founded in 1999, the bank is headquartered in New York City and operates six locations in Manhattan, Brooklyn and Great Neck, Long Island. The bank is also an active issuer of debit cards for third-party debit card programs and provides critical global payments infrastructure to its fintech partners. The bank is a New York State chartered commercial bank and a Federal Reserve System member bank whose deposits are insured up to applicable limits by the Federal Deposit Insurance Corporation, and an equal opportunity lender.
The Davis Polk corporate team included partner Richard D. Truesdell Jr. and associate Rahul K. Patel. Counsel Daniel E. Newman and associate Suiwen Liang provided financial institutions advice. Partner Michael Mollerus and associate Eitan Ulmer provided tax advice. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk team are based in the New York office.