Relevant Statistics:

Price per Share: $10.00
Shares Issued: 4,093,025
Aggregate Raised: $40,930,250
Sold to local investors, international and domestic institutions and high net worth Raymond James retail clients

Background:

Metropolitan BancGroup, Inc., headquartered in Ridgeland, MS, was formed to establish a banking corporation serving the metropolitan markets of Memphis, TN and Jackson, MS.

Their dual market strategy reflects the banking experience of their management team, most of whom spent their careers operating high-performance banks on behalf of a large regional bank.

The Company commenced a capital raise in October of 2007 in an effort to raise funds to support its initial growth.

The Company was to use the proceeds of this offering to purchase Bank of the South, acquire a Tennessee charter, fund the building of their infrastructure, as well as for growth capital to support balance sheet growth.

Investment Banking Role:

Raymond James acted as lead placement agent in Metropolitan’s private placement of common stock. Raymond James distributed the shares offered through four channels – its retail and institutional networks, private equity and the Company’s founders and their personal and professional networks.

Successful Outcome:

This transaction had an initial close on February 28, 2008 with the final capital raise totaling $40.9 million.