Metropolitan Bank share sale expected to price Wednesday: terms

Metropolitan Bank share sale expected to price Wednesday: terms

Metropolitan Bank Share Sale Expected to Price Wednesday: Terms Revealed

Metropolitan Bank Holding Corp. (NYSE: MCB) has launched a $175 million underwritten public offering of common stock, with pricing anticipated on Wednesday, February 25, 2026. The offering, filed under an effective Form S-3 shelf registration statement, includes a 30-day option for underwriters to purchase up to an additional 15% of shares, subject to market conditions. The company emphasized that completion remains contingent on market demand and other factors.

Proceeds from the offering will fund organic growth initiatives, investments in Metropolitan Commercial Bank, working capital needs, and general corporate purposes. While specific allocation details are unspecified, the capital raise aims to enhance balance sheet flexibility amid ongoing expansion efforts.

The preliminary prospectus discloses a non-binding indication of interest from CEO Mark R. DeFazio for approximately $0.5 million in shares at the public offering price. Additionally, certain insiders have agreed to 90-day lock-up provisions, restricting sales of their shares post-offering, subject to customary exceptions. As of February 13, 2026, the company reported 10,116,117 shares outstanding, with the post-offering share count dependent on underwriter exercises.

UBS Investment Bank and Hovde Group, LLC serve as joint book-running managers. The offering, listed on the NYSE under the symbol MCB, leverages an existing shelf registration (File No. 333-283534) to expedite execution. Final terms, including share price and total size, will be determined in the upcoming prospectus supplement.

Investors are advised that forward-looking statements regarding the offering's completion and use of proceeds are subject to risks, including market volatility and regulatory conditions, as outlined in the company's SEC filings. The transaction underscores MCB's strategy to strengthen capital reserves while advancing growth objectives in its core banking operations.

(Source 3 (SEC Filing 8-K) and Source 5 (Prospectus Supplement)): Source 3 (SEC Filing 8-K) and Source 5 (Prospectus Supplement).
(Source 5 (Prospectus Supplement)): Source 5 (Prospectus Supplement).