Metropolitan Bank Holding Corp. Responds to Erroneous Reports in Online Articles
January 16 2018 - 7:30AM
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20180116005983/en/
Metropolitan Bank Holding Corp.Edward Nebb,
203-972-8350IR@MetropolitanBankNY.com
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