Metropolitan Bank Holding Corp. in New York has raised $34.4 million through a stock offering.
The $1 billion-asset company said in a press release Monday that the stock was issued through a private placement to the New York investment firm Endicott Management and existing shareholders. The capital was oversubscribed by $4.4 million.
The company said the new capital "substantially increases" its lending capacity. Metropolitan focuses on middle-market firms, along with commercial and professional banking clients around New York.
Houlihan Lokey and Luse Gorman advised Metropolitan.