SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2017

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 10 – SUBSEQUENT EVENTS

On November 8, 2017, the Company completed an initial public offering (“IPO”) of its common stock and sold 3,100,000 shares of common stock at the public offering price of $35.00 per share. The Company received aggregate net proceeds of approximately $99.9 million after deducting underwriting discount and other offering related expenses.

On November 10, 2017, the Company sold 465,000 additional shares of common stock at the public offering price of $35.00 per share pursuant to the underwriter’s overallotment option. The net proceeds to the Company, after deducting the underwriting discount and estimated offering expenses with the overallotment option, were approximately $15.1 million. The aggregate net proceeds to Metropolitan Bank Holding Corp. from its IPO, including the overallotment shares, after deducting the underwriting discount and estimated offering expenses were approximately $115 million.