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.