NEW YORK--(BUSINESS WIRE)--
Metropolitan Bank Holding Corp. (NYSE:MCB) (the “Company”) today
responded to erroneous statements contained in articles that have
recently appeared in some online publications. The articles reported
that the Company’s wholly owned subsidiary, Metropolitan Commercial Bank
(the “Bank”) “has ceased all cryptocurrency-related international wires
effective immediately” and that the Bank’s actions were in response to
an “incident of international fraud.”
As a matter of policy, the Bank does not accept cryptocurrency-related
wire transfers from non-U.S. entities. This is a long-standing policy of
the Bank and remains in effect today. Last week, the Bank sent out a
reminder to customers of its policy against accepting
cryptocurrency-related wire transfers from non-U.S. entities. This
reminder to customers is not a new policy for the Bank and was not due
to, nor did the Bank experience, any “incident of international fraud.”
The Bank’s long-standing policy of not accepting cryptocurrency-related
wire transfers from non-U.S. entities is part of its robust risk
management program that is designed to ensure the safe and sound
operations of the Bank in compliance with applicable laws, rules and
guidance.
About Metropolitan Bank Holding Corp.
Metropolitan Bank Holding Corp. (NYSE: MCB) is the holding company for
Metropolitan Commercial Bank®, The Entrepreneurial Bank.
Headquartered in New York City, the Bank operates full-service banking
centers in Manhattan; Boro Park, Brooklyn; and Great Neck, Long Island.
Metropolitan Commercial Bank is a New York State chartered commercial
bank, an FDIC member and an equal opportunity lender.
Cautionary Note Regarding Forward-Looking Statements
This press release includes “forward-looking statements,” including with
respect to the initial public offering. Forward-looking statements are
subject to many risks and uncertainties, including, but not limited to:
changes in business plans as circumstances warrant; changes in general
economic, business and political conditions, including changes in the
financial markets; and other risks detailed in the “Cautionary Note
Regarding Forward-Looking Statements,” “Risk Factors” and other sections
of the registration statement filed with the SEC. Potential investors
should note that the forward-looking statements included in this press
release are not a guarantee of future events, and that actual events may
differ materially from those made in or suggested by the forward-looking
statements. Forward-looking statements generally can be identified by
the use of forward-looking terminology such as “may,” “might,” “should,”
“could,” “predict,” “potential,” “believe,” “expect,” “attribute,”
“continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,”
“projection,” “goal,” “target,” “outlook,” “aim,” “would,” “annualized”
and “outlook,” or similar terminology. Any forward-looking statements
presented herein are made only as of the date of this press release, and
Metropolitan Bank Holding Corp. does not undertake any obligation to
update or revise any forward-looking statements to reflect changes in
assumptions, the occurrence of unanticipated events, or otherwise,
except as may be required by law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180116005983/en/
Metropolitan Bank Holding Corp.
Edward Nebb, 203-972-8350
IR@MetropolitanBankNY.com
Source: Metropolitan Bank Holding Corp.