Metropolitan Bank Holding (MCB) expects to raise $101 million in an initial public offering (IPO) on Wednesday, November 8th, IPO Scoop reports. The company will be issuing 3,100,000 shares at a price of $31.00-$34.00 per share.
In the last twelve months, Metropolitan Bank Holding generated $49.7 million in revenue and $6.7 million in net income. Metropolitan Bank Holding has a market-cap of $251.3 million.
J.P Morgan and Keefe, Bruyette & Woods (A Stifel Company) served as the underwriters for the IPO and Piper Jaffray was co-manager.
Metropolitan Bank Holding provided the following description of their company for its IPO: “We are a bank holding company headquartered in New York, New York and registered under the BHC Act. Through our wholly owned bank subsidiary, Metropolitan Commercial Bank, we provide a broad range of business, commercial and retail banking products and services to small businesses, middle-market enterprises, public entities and affluent individuals in the New York metropolitan area. Our founding members, including our Chief Executive Officer Mark DeFazio, recognized a need in the New York metropolitan area for a solutions oriented, relationship bank focused on middle market companies and real estate entrepreneurs who require loans of $2–20 million, a size often overlooked or deprioritized by larger financial institutions. Metropolitan Commercial Bank was established in 1999 with the goal of helping these underserved clients build and sustain wealth. “.
Metropolitan Bank Holding was founded in 1999 and has 118 employees. The company is located at 99 Park Avenue, 4th Floor, New York, New York 10016, US and can be reached via phone at (212) 659-0600 or on the web at http://www.metropolitanbankny.com.
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