Metropolitan Bank prices $178.5 million stock offering at $85 per share

Metropolitan Bank Holding Corp. (NYSE: MCB) announced the pricing of an underwritten public offering of 2.1 million shares of common stock at $85.00 per share. The company granted underwriters a 30-day option to purchase up to an additional 15% of the shares sold in the offering.

The aggregate gross proceeds will be approximately $178.5 million before discounts and expenses. If underwriters exercise their full option to purchase additional shares, gross proceeds would reach approximately $205.3 million before discounts and expenses.

Metropolitan Bank plans to use net proceeds to support organic growth initiatives, investments in the bank, working capital for ongoing operations, and general corporate purposes. The offering is expected to close on February 27, 2026, subject to customary closing conditions.

UBS Investment Bank and Hovde Group, LLC are serving 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 that became effective on November 29, 2024. A preliminary prospectus supplement has been filed for this offering.

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

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