Business Context and Reporting Period
This Form 8-K Current Report was filed by Metropolitan Bank Holding Corp. on August 6, 2020, covering events occurring on August 3, 2020. The filing addresses significant changes in executive leadership at the Company and its wholly owned subsidiary, Metropolitan Commercial Bank.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
- Departure: Anthony J. Fabiano announced his retirement as Executive Vice President, effective September 4, 2020.
- Appointment: Gregory A. Sigrist was hired to join the Company and Bank on August 10, 2020, assuming the role of Executive Vice President and Chief Financial Officer on September 4, 2020.
Management Commentary and Background
Mr. Sigrist brings extensive experience to the role, having previously served as Executive Vice President and CFO of Columbia Banking System, Inc. (2018–2020). His prior career includes 12 years at Morgan Stanley, where he held senior financial roles including CFO of Morgan Stanley Bank, N.A., and five years at Citigroup. He began his career in senior auditing roles at Ernst & Young and McGladrey & Pullen. He holds a Bachelor's degree in Accounting from Illinois State University and is a Certified Public Accountant in Illinois.
Investor Verification Checklist
- Confirm the exact effective date of the CFO transition (September 4, 2020).
- Review the attached press release (Exhibit 99.1) for details on compensatory arrangements.
- Verify the interim leadership structure between the departure of Mr. Fabiano and the full assumption of duties by Mr. Sigrist.