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New York-based Metropolitan Bank Holding files for IPO

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New York-based Metropolitan Bank Holding files for IPO

New York-based Metropolitan Bank Holding Corp. filed for an initial public offering of an undisclosed number of common shares.

The proposed maximum aggregate offering price is $100 million, estimated solely to calculate the registration fee. The price range for the offering was also not disclosed.

The stock will be listed on the New York Stock Exchange under the symbol MCB.

The company intends to use the net proceeds of the offering to support the growth of Metropolitan Commercial Bank's loan portfolio, and finance potential strategic acquisitions and other general corporate purposes.

J.P. Morgan Securities LLC, Keefe Bruyette & Woods Inc. and Piper Jaffray & Co. are serving as underwiters for the proposed IPO.