July 14, 2011
Metropolitan Bank to Add New Poplar Avenue Location in East Memphis
(Memphis, Tenn.) — Metropolitan Bank today announced plans to open a new office at 5264 Poplar Ave. in East Memphis. The new location was formerly the headquarters for Loeb Properties and will be Metropolitan’s second office in the Memphis, Tenn., market. Renovation will begin immediately with expected opening in November 2011. Metropolitan’s Memphis headquarters is located at 1661 Aaron Brenner Drive in East Memphis. The new office will be an anchor for the bank’s commercial and private client banking teams. Since entering the Memphis market, Metropolitan has grown its local deposit base by more than $300 million in just three years.
“Our model emphasizes personal relationships and leading-edge technology over the use of extensive branch networks, and it has served our clients very well,” says Phillip May, president of Metropolitan’s Tennessee Division. “With that in mind, it is time for us to expand our footprint in Memphis to accommodate the rapid growth we have experienced in the market. This expansion further solidifies our commitment to our Memphis clients.”
Memphis-based Graham Reese Design Group designed the renovations and Grinder, Taber & Grinder, Inc. will handle the construction of the space. The new location will maintain the same open feel as the current Memphis headquarters, without the use of traditional teller lines. It will also include a multi-lane drive-thru and a drive-up ATM.
“I’ve said from the beginning that our people are what set us apart,” said Curt Gabardi, Metropolitan’s CEO. “This expansion allows us to get our associates in front of a wider audience of both businesses and individuals. We want to ensure that we are in the best possible position to serve our clients and at the highest level, and adding a location inside the 240 loop helps us do that.”
Metropolitan associates will post periodic photos documenting the construction progress on the bank’s Facebook page at http://www.facebook.com/themetropolitanbank.
About Metropolitan Bank.
The Metropolitan Bank, the banking subsidiary of Metropolitan BancGroup, Inc., is a $510 million bank co-headquartered in Memphis, Tennessee, and Ridgeland, Mississippi. Local market deposits for Memphis are now in excess of $300 million. After its successful acquisition of Bancsouth Financial Corporation and its subsidiary Bank of the South in 2008, and its acquisition of a Tennessee state bank charter, Metropolitan now operates five full-service banking offices in Tennessee and Mississippi. The Metropolitan Bank offers a full range of financial products and services, including private banking services, personal and business checking accounts, online banking and bill payment, mortgages, home equity lines of credit, custom construction loans, commercial and consumer loans, treasury management, remote capture, and merchant card services.