Metropolitan Bank Holding launches $175 million stock offering

Metropolitan Bank Holding Corp. (NYSE: MCB) announced an underwritten public offering of $175 million of common stock. The company also granted underwriters a 30-day option to purchase up to an additional 15% of the shares sold in the offering.

The offering remains subject to market and other conditions, with no assurance regarding completion or final terms. Metropolitan Bank Holding plans to use net proceeds to support organic growth initiatives, investments in its subsidiary Metropolitan Commercial Bank, working capital for operations, and general corporate purposes.

UBS Investment Bank and Hovde Group, LLC serve as joint book-running managers for the offering. The company filed a shelf registration statement with the Securities and Exchange Commission on Form S-3, which became effective on November 29, 2024.

Metropolitan Bank Holding Corp. is the parent company of Metropolitan Commercial Bank, a New York City-based commercial bank providing banking services to individuals, small businesses, middle-market enterprises, institutions, municipalities, and government entities.

The information is based on a company press release.

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