NEW YORK--(BUSINESS WIRE)--Metropolitan Bank Holding Corp., parent of Metropolitan Commercial Bank, today announced the launch of its initial public offering of common stock. Metropolitan is offering 3,100,000 shares. The initial public offering price is currently expected to be between $31.00 and $34.00 per share. The common stock is expected to trade on the New York Stock Exchange under the symbol “MCB.”

The underwriters will have a 30-day option to purchase up to an additional 465,000 shares of common stock from Metropolitan. Metropolitan intends to use the net proceeds from the offering to support the growth in Metropolitan Commercial Bank’s loan portfolio, including the possibility of making larger loans due to its increased legal lending limit and for other general corporate purposes.

J.P. Morgan and Keefe, Bruyette & Woods, A Stifel Company, will act as joint book running managers, and Piper Jaffray will act as co-manager.

About Metropolitan Bank Holding Corp.

Metropolitan Bank Holding Corp. is the holding company for Metropolitan Commercial Bank®, The Entrepreneurial Bank. Headquartered in New York City, the Bank operates full-service banking centers in Manhattan, Boro Park, Brooklyn and Great Neck, Long Island. Metropolitan Commercial Bank is a New York State chartered commercial bank, a FDIC member and an equal opportunity lender.