Metropolitan Bank Holding Corp. priced a public offering of 2.1 million shares of its common stock at $85.00 per share, a discount to the trading price of $93.85. The offering is expected to raise $178.5 million in gross proceeds, with a 30‑day option for underwriters to purchase up to an additional 15% of the shares, potentially increasing gross proceeds to $205.3 million.
The joint book‑running managers are UBS Investment Bank and Hovde Group, LLC, and the offering is filed under the company’s effective Form S‑3 shelf registration that was approved on November 29, 2024. The option allows the underwriters to adjust the size of the placement in response to market demand, giving the company flexibility to capture additional capital if the offering is well received.
The proceeds will be used to support organic growth initiatives, invest in the bank’s operations, provide working capital for ongoing activities, and fund general corporate purposes. The pricing reflects Metropolitan’s strong recent performance—its stock has surged 60% over the past year—and the discount is intended to ensure a successful placement while preserving shareholder value.
Metropolitan Commercial Bank, the company’s primary subsidiary, has been recognized as one of Newsweek’s Best Regional Banks in 2024 and 2025 and was named a top‑ten loan producer in 2024 by the ICBA. A Kroll BBB+ deposit rating, affirmed in January 2026, underscores the bank’s solid capital position and credit quality. These accolades, combined with the capital raise, position the company to pursue expansion opportunities and strengthen its competitive standing in the regional banking sector.
By raising additional capital, Metropolitan can accelerate its growth strategy, support new lending and deposit initiatives, and maintain a robust capital buffer in anticipation of future regulatory or economic conditions. The offering also provides the company with the flexibility to invest in technology and infrastructure upgrades that can enhance operational efficiency and customer service.
The pricing of the offering demonstrates Metropolitan’s confidence in its business model and its ability to generate sustainable growth. The capital raise is expected to reinforce the company’s balance sheet, support its expansion plans, and provide a foundation for continued value creation for shareholders.
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