Metropolitan Bank Shareholders Unlikely to Get Any Cash

by Gwen Moritz  on Monday, Jul. 15, 2013 12:00 am  

Susie Smith ()

Rogers Bancshares Inc., the holding company for Metropolitan National Bank, had negative common equity of $22 million as of March 31. As a result, its creditors are likely to receive only pennies on the dollar from the proposed $16 million sale of Metropolitan.

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