David M. Gavrin to Remain on the Board
NEW YORK--(BUSINESS WIRE)--
Metropolitan Bank Holding Corp. (NYSE: MCB) (“Metropolitan” or the
“Company”), the holding company for Metropolitan Commercial Bank (the
“Bank”), today announced that the Board of Directors elected William
Reinhardt as Chairman of the Board. David M. Gavrin, who has served on
the Board since the Company’s inception and has held the role of
Chairman since 2004, will remain a member of the Board.
With more than 38 years of experience in the banking industry, Mr.
Reinhardt brings a broad background in community banking and bank
supervision. He is currently the Chairperson of the Board’s Audit
Committee and a member of the Compensation and Corporate Governance and
Nominating Committees.
“As a Director since 2013, Bill has a deep understanding of our strategy
and brings significant financial, regulatory and banking experience to
the Chairman position,” said CEO Mark DeFazio. “With Bill as Chairman, I
am confident we can sustain our strong momentum and execute on our
strategic objectives to drive shareholder value.”
Mr. DeFazio added, “I want to thank David for his many years of
leadership as our Chairman. During his tenure, the Company achieved
significant growth and expanded its market presence and brand
recognition, leading to our successful initial public offering last
year. David’s service to the Board since the Bank’s founding has been
invaluable and we look forward to his continued contributions as an
esteemed member of our Board.”
“I am honored to become Chairman and continue working alongside the
experienced senior leadership team at Metropolitan at this exciting time
in the Company’s history,” said Mr. Reinhardt. “Our focus is on
continuing to deliver unique banking solutions to customers and building
value for shareholders.”
Mr. Reinhardt has been a Senior Director of Alvarez & Marsal, a global
professional services and consulting firm, since 2008, focused on
financial services clients. Prior to joining Alvarez & Marsal, he was an
Assistant Deputy Comptroller for Community Banks in the Northeastern
District of the Office of the Comptroller of the Currency, responsible
for regulatory oversight over more than 200 community and regional banks
as well as federal branches. Mr. Reinhardt received a B.A. from LIU
Post, formerly known as C.W. Post Campus of Long Island University, and
a degree from the Graduate School of Banking at the University of
Wisconsin.
About Metropolitan Bank Holding Corporation
Metropolitan Bank Holding Corp. (NYSE: MCB) is the holding company for
Metropolitan Commercial Bank®, The Entrepreneurial Bank. The Bank
provides a broad range of business, commercial and personal banking
products and services to small and middle-market businesses, public
entities and affluent individuals in the New York metropolitan area.
Founded in 1999, the Bank is headquartered in New York City and operates
five locations in Manhattan, Brooklyn and Great Neck, Long Island. The
Bank is also an active issuer of debit cards for third-party debit card
programs. Metropolitan Commercial Bank is a New York State chartered
commercial bank, an FDIC member and an equal opportunity lender. For
more information, please visit www.metropolitanbankny.com.
Forward Looking Statement Disclaimer
This release contains certain “forward-looking statements” about the
Company which, to the extent applicable, are intended to be covered by
the safe harbor for forward-looking statements provided under Federal
securities laws and, regardless of such coverage, you are cautioned
about. Examples of forward-looking statements include but are not
limited to the Company’s financial condition and capital ratios, results
of operations and the Company’s outlook and business. Forward-looking
statements are not historical facts. Such statements may be identified
by the use of such words as “may”, “believe”, “expect”, “anticipate”,
“plan”, “continue”, or similar terminology. These statements relate to
future events or our future financial performance and involve risks and
uncertainties that may cause our actual results, levels of activity,
performance or achievements to differ materially from those expressed or
implied by these forward-looking statements. Although we believe that
the expectations reflected in the forward-looking statements are
reasonable, we caution you not to place undue reliance on these
forward-looking statements. Factors which may cause our forward-looking
statements to be materially inaccurate include, but are not limited to,
an unexpected deterioration in our loan portfolio, unexpected increases
in our expenses, greater than anticipated growth, unanticipated
regulatory action, unexpected changes in interest rates, an
unanticipated loss of key personnel, an unanticipated loss of existing
customers, competition from other institutions resulting in
unanticipated changes in our loan or deposit rates, unanticipated
increases in Federal Deposit Insurance Corporation costs and
unanticipated adverse changes in our customers’ economic conditions or
economic conditions in our local area in general.
Forward-looking statements speak only as of the date of this release. We
do not undertake any obligation to update or revise any forward-looking
statement, whether the result of new information, future events or
otherwise.
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Investor Relations
Metropolitan Bank Holding Corp.
212-365-6721
IR@MetropolitanBankNY.com
or
Media
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Verbinnen & Co
Paul Scarpetta/Liz Zale
212-687-8080
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Source: Metropolitan Bank Holding Corp.