September 23, 2011
The Metropolitan Bank Announces
Nashville Expansion Plans
Bill Menkel selected as Nashville president
The Metropolitan Bank today announced that it has taken the first steps toward expansion into Nashville with the hiring of Bill Menkel as president of the Nashville market. Menkel, along with the bank’s leadership team, is already exploring an initial office location and recruitment of key talent, all of which is pending regulatory approval for the bank's expansion.
Founded in 2008, Metropolitan Bank, presently a financial institution with $560 million in assets, is considered well capitalized by all regulatory standards. The bank achieved profitability very early after its founding, and currently expects to generate earnings approaching $1 million for the third quarter of 2011. Metropolitan specializes in commercial and private banking, allowing clients to choose how they desire to bank by weaving trusted advice and state of the art technology through an exceptional client experience.
“I’m thrilled to be on board with such a nimble, progressive organization, and I'm already truly impressed by the company’s organizational culture and beliefs,” said Menkel. “Metropolitan’s vision for market expansion, its reputation for and commitment to an unsurpassed client experience, coupled with my history and knowledge of the Nashville market, will allow us to build a strong and exciting Nashville bank.”
Menkel brings 30 years of experience in the banking industry to The Metropolitan Bank, including 15 years at the executive level of National Bank of Commerce. During three of those years, he served as NBC’s Nashville president and CEO, and four years as president and regional executive of the Nashville and Memphis markets. Most recently, he served as the president and CEO of Peoples State Bank and Farmers Bank in Franklin, Tennessee.
Curt Gabardi, Metropolitan’s founding president and CEO, is a former Nashville resident and past regional president for Regions Bank. According to him, this move by Metropolitan is a natural next step for the bank.
“Expansion into Nashville and other growth markets in Tennessee has been a key strategy for Metropolitan from our inception, and we’re extremely excited to have reconnected with Bill to lead our Nashville bank," Gabardi said. "We share the same values and vision for what a niche bank can accomplish through the assembly of a seasoned group of talented bankers, and moreover, we share the same fundamental, conservative credit philosophy.”
Metropolitan leadership hopes to have a location identified by the end of 2011 with plans to open an office in early 2012.
The Metropolitan Bank, the banking subsidiary of Metropolitan BancGroup, Inc., is a $560 million bank presently co-headquartered in Memphis, Tenn., and Ridgeland, Miss. 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 Mississippi and Tennessee. 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 deposit capture and merchant card services. For more information, visit www.themetropolitanbank.com.