On November 10, 2017, Metropolitan Bank Holding Corp., New York, New York (“MBHC”), the parent bank holding company for Metropolitan Commercial Bank, completed an initial public offering through a firm commitment underwritten sale of 3.565 million shares of common stock at a price of $35.00 per share, which included the underwriter’s overallotment option. MBHC’s stock began trading on the New York Stock Exchange on November 8, 2017 under the symbol “MCB.”
Luse Gorman served as legal counsel to MBHC in the IPO. The Luse Gorman team was led by Gary Lax (Regulatory and Corporate/M&A) and Michael Brown (Corporate/M&A), and included Max Seltzer (Executive Compensation), Megan McKinney (Corporate/M&A) and Jeffrey Cass (Corporate/M&A Non-Lawyer Specialist).
Metropolitan Commercial Bank is a New York-chartered commercial bank headquartered in New York City with full-service banking centers in Manhattan, Boro Park, Brooklyn and Great Neck, Long Island. Metropolitan Holding and Metropolitan Commercial Bank were originally chartered in 1999 and at September 30, 2017 had approximately $1.7 billion in total assets.