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.

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