Metropolitan Bank Holding, a commercial bank with five branches in the New York MSA, announced terms for its IPO on Friday.
The New York, NY-based company plans to raise $101 million by offering 3.1 million shares at a price range of $31 to $34. At the midpoint of the proposed range, Metropolitan Bank Holding would command a fully diluted market value of $264 million.
Metropolitan Bank Holding was founded in 1999 and booked $48 million in sales for the 12 months ended June 30, 2017. It plans to list on the NYSE under the symbol MCB. J.P. Morgan and Keefe Bruyette Woods are the joint bookrunners on the deal. It is expected to price during the week of November 7, 2017.
