Metropolitan Bank Holding Corp. evaluates the public offering of ordinary shares

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NEW YORK–(COMMERCIAL THREAD) –Metropolitan Bank Holding Corp. (NYSE: MCB) (the “Company”), the holding company of Metropolitan Commercial Bank (the “Bank”), today announced the price of a subscribed public offering of 2,000,000 common shares at a price of $ 75.00 per share. The Company has also granted the underwriters a 30 day option to purchase up to 300,000 additional common shares.

The total gross proceeds of the offering will be approximately $ 150.0 million before discounts and expenses. Assuming that the Underwriters fully exercise their option to purchase additional shares, the total gross proceeds of the Offer would be approximately $ 172.5 million before discounts and expenses. The Company expects to use the net proceeds of the offering for general corporate purposes, which may include financing the repayment or repurchase of outstanding debt, share repurchases, investments in the Bank. , as regulatory or other capital, ongoing operations, interest and dividend payments and possible acquisitions of businesses or assets. The closing of the offer is scheduled for September 20, 2021, subject to customary closing conditions.

JP Morgan and Keefe, Bruyette & Woods, A Stifel company, act as co-bookkeepers.

Metropolitan Bank Holding Corp. has filed with the Securities and Exchange Commission (the “SEC”) a pre-registration statement (including a prospectus) on Form S-3 (File No. 333-254197) and a preliminary prospectus supplement for the offer to which this press release relates. Before investing, you should read the preliminary prospectus supplement and the accompanying prospectus, including the information incorporated by reference therein, as well as other documents that we have filed and that we will file with the SEC for obtain more complete information about the Company and this offer. The proposed offer is being made only by means of an effective pre-registration statement, including a preliminary prospectus supplement and a final prospectus supplement, copies of which may be obtained, where available, free of charge by visiting EDGAR on the SEC’s website at www.sec. govt. Additionally, copies may be obtained from JP Morgan Securities LLC, c / o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling (866) 803-9204; or from Keefe, Bruyette & Woods, Inc., Attention: Equity Capital Markets, 787 Seventh Avenue, 4th Floor, New York, NY 10019 or by calling the toll free number (800) 966-1559.

This press release does not constitute an offer to sell or the solicitation of an offer to buy such securities, and there will be no sale of such securities in any state or jurisdiction in which such an offer, solicitation or sale would be illegal prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Metropolitan Bank Holding Corp.

Metropolitan Bank Holding Corp. (NYSE: MCB) is the holding company of the Metropolitan Commercial Bank. The Bank offers a wide range of business, commercial and retail banking products and services to small and medium-sized businesses, public entities and high net worth individuals in the New York metropolitan area. Founded in 1999, the Bank is headquartered in New York City and operates six branches in Manhattan, Brooklyn and Great Neck, Long Island. The Bank is also an active debit card issuer for third party debit card programs and provides critical global payments infrastructure to its fintech partners. The Bank is a New York State chartered commercial bank and a member bank of the Federal Reserve System with deposits insured up to applicable limits by the Federal Deposit Insurance Corporation and an Equal Lender. chances. For more information, please visit www.mcbankny.com.

Forward-looking statements

The information disclosed in this press release includes various forward-looking statements which are based on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “” expects “,” believes “,” anticipates “, “May”, “will”, “should”, “could” and other similar expressions are intended to identify such forward-looking statements. The Company cautions that these forward-looking statements are necessarily speculative and speak only as of the date of writing, and are subject to numerous assumptions, risks and uncertainties, all of which may change over time. Actual results could differ materially from these forward-looking statements. Therefore, you should not place undue reliance on forward-looking statements. In addition to the specific risk factors disclosed in the Company’s annual report on Form 10-K for the year ended December 31, 2020, the following factors, among others, could cause actual results to differ materially and adversely from such forward-looking statements: changes in the financial services industry and US and global capital markets, changes in economic conditions at the national, regional and Company market levels, the nature and timing of actions by the Federal Reserve and other regulators, the nature and timing of laws and regulations affecting the financial services industry, government intervention in the U.S. financial system, changes in federal and state tax laws, changes in levels of interest rates market interest, pricing pressures for loan and deposit products, credit risks of the Company’s lending and rental activities, successful implementation, deployment and upgrades of new and existing technologies, systems, services and products, customer acceptance of the Company’s products and services and the competition. Additionally, given its ongoing and dynamic nature, it is difficult to predict the continued effects the COVID-19 pandemic will have on our business and operating results. The pandemic and related local and national economic disruptions may, among other effects, result in a material adverse change in demand for our products and services; increased levels of loan defaults, problematic assets and foreclosures; branch disruptions, staff unavailability and increased cybersecurity risks when employees work remotely. All statements made by the Company that are not historical facts should be considered as forward-looking statements. The Company is under no obligation to update and does not undertake to update any of its forward-looking statements made here.

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