"Metropolitan Bank is opening its first stand-alone branch in Memphis in a building that previously was headquarters of Loeb Properties Inc.
Loeb is investing more than $1 million for improvements to the 5,000-square-foot, 1960s-era office building at 5264 Poplar, says Loeb senior vice president of brokerage and development Matt Prince.
Metropolitan’s Tennessean Division president Philip May says Metropolitan has signed a 10-year land and building lease with multiple options that will keep the bank in the freshened-up space for some time.
“You won’t recognize the building when we’re done,” says Metropolitan’s president and CEO Curt Gabardi. “The facade of that building will change 360 degrees.”
The expansion for Metropolitan comes as the competition for customer deposits and strong credits continues to be a dogfight between national lenders and super regionals and community institutions."