[Financial Performance Overview](index=1&type=section&id=Financial%20Performance%20Overview) Metropolitan Bank Holding Corp. reported strong Q1 2025 net income, diluted EPS, and significant growth in loans and deposits, alongside continued net interest margin improvement and active share repurchases [First Quarter 2025 Financial Highlights](index=1&type=section&id=Financial%20Highlights) Metropolitan Bank Holding Corp. reported a net income of $16.4 million, or $1.45 per diluted share, for the first quarter of 2025, marking strong growth in loans and deposits, improved net interest margin, and stable asset quality Q1 2025 Key Financial Results | Metric | Q1 2025 | Q4 2024 | Q1 2024 | | :--- | :--- | :--- | :--- | | Net Income | $16.4 million | $21.4 million | $16.2 million | | Diluted EPS | $1.45 | $1.88 | $1.46 | Key Balance Sheet and Performance Metrics (as of March 31, 2025) | Metric | Value | Change from Dec 31, 2024 | Change from Mar 31, 2024 | | :--- | :--- | :--- | :--- | | Total Loans | $6.3 billion | +5.1% | +10.9% | | Total Deposits | $6.4 billion | +7.8% | +3.4% | | Net Interest Margin | 3.68% | +2 bps | +28 bps | | Non-Performing Loans / Total Loans | 0.54% | Unchanged | -37 bps | - The company repurchased **228,926 shares** of common stock for **$12.9 million**, representing about **2%** of shares outstanding at the end of 2024[3](index=3&type=chunk) - Liquidity remains strong, with cash and available secured funding capacity totaling **$2.9 billion**, which is **179%** of estimated uninsured deposits[3](index=3&type=chunk) [CEO Commentary](index=2&type=section&id=CEO%20Commentary) President and CEO Mark DeFazio highlighted the company's strong financial results, exceptional loan and deposit growth, and continued net interest margin (NIM) improvement, affirming an outlook for continued growth - The CEO emphasized strong financial results, exceptional loan and deposit growth, and the sixth consecutive quarter of NIM improvement[5](index=5&type=chunk) - The company's outlook is for continued growth, supported by strong business development pipelines[5](index=5&type=chunk) [Financial Condition](index=2&type=section&id=Financial%20Condition) Total assets and loans increased significantly in Q1 2025, primarily driven by commercial real estate, supported by strong deposit growth, while maintaining a well-capitalized status [Balance Sheet Analysis](index=2&type=section&id=Balance%20Sheet) As of March 31, 2025, total assets reached $7.6 billion, fueled by a $308.0 million increase in total loans, primarily commercial real estate, supported by a $466.3 million increase in total deposits Balance Sheet Key Figures (in billions) | Account | Mar 31, 2025 | Dec 31, 2024 | Mar 31, 2024 | | :--- | :--- | :--- | :--- | | Total Assets | $7.62 | $7.30 | $7.45 | | Net Loans | $6.27 | $5.97 | $5.66 | | Total Deposits | $6.45 | $5.98 | $6.24 | - Total loans increased by **$308.0 million (5.1%)** from the prior quarter, driven by a **$277.0 million** increase in Commercial Real Estate (CRE) loans[7](index=7&type=chunk) - Total deposits grew by **$466.3 million (7.8%)** from the prior quarter, with contributions from most of the bank's deposit verticals[8](index=8&type=chunk) - The ratio of total non-owner-occupied CRE loans to total risk-based capital increased to **367.0%** from **346.1%** in the prior quarter, partly due to the holding company's share repurchase program[9](index=9&type=chunk) [Results of Operations](index=3&type=section&id=Results%20of%20Operations) Q1 2025 saw a slight decrease in total revenues and net income due to higher expenses and lower non-interest income, despite improved net interest margin and stable asset quality [Income Statement Summary](index=3&type=section&id=Income%20Statement) For the first quarter of 2025, total revenues were $70.6 million, with net income at $16.4 million, primarily impacted by higher non-interest expenses and lower non-interest income following the wind-down of the BaaS business Quarterly Performance Summary | Metric | Q1 2025 | Q4 2024 | Q1 2024 | | :--- | :--- | :--- | :--- | | Total Revenues | $70.6 million | $71.0 million | $66.7 million | | Net Income | $16.4 million | $21.4 million | $16.2 million | | Diluted EPS | $1.45 | $1.88 | $1.46 | Key Profitability Ratios (Annualized) | Ratio | Q1 2025 | Q4 2024 | Q1 2024 | | :--- | :--- | :--- | :--- | | Return on Average Assets (ROA) | 0.89% | 1.16% | 0.91% | | Return on Average Equity (ROE) | 9.0% | 11.8% | 9.8% | | Return on Average Tangible Common Equity (ROTCE) | 9.1% | 12.0% | 9.9% | [Net Interest Income and Margin](index=3&type=section&id=Net%20Interest%20Income%20and%20Margin) Net interest income for Q1 2025 increased to $67.0 million, driven by higher average loan balances and a lower cost of funds, with the net interest margin expanding to 3.68% Net Interest Income and Margin Performance | Metric | Q1 2025 | Q4 2024 | Q1 2024 | | :--- | :--- | :--- | :--- | | Net Interest Income | $67.0 million | $66.6 million | $59.7 million | | Net Interest Margin | 3.68% | 3.66% | 3.40% | - The total cost of funds decreased to **3.19%** in Q1 2025, down from **3.25%** in Q4 2024 and **3.30%** in Q1 2024, reflecting the reduction in short-term interest rates[14](index=14&type=chunk) [Non-Interest Income and Expense](index=3&type=section&id=Non-Interest%20Income%20and%20Expense) Non-interest income decreased to $3.6 million in Q1 2025 due to the wind-down of the BaaS business, while non-interest expense rose to $42.7 million, primarily from higher compensation and professional fees - Non-interest income fell by **$763,000** from the prior quarter, driven by the absence of BaaS revenue, though partially offset by **$822,000** in one-time non-refundable program fees[15](index=15&type=chunk) - Non-interest expense increased by **$4.6 million** from Q4 2024, primarily due to a **$2.1 million** rise in compensation and benefits (seasonally higher taxes/costs) and a **$1.3 million** increase in professional fees[16](index=16&type=chunk) - The effective tax rate decreased to **30.0%** in Q1 2025, compared to **31.7%** in Q4 2024 and **33.3%** in Q1 2024[18](index=18&type=chunk) [Asset Quality](index=4&type=section&id=Asset%20Quality) The company's asset quality remained stable in Q1 2025, with non-performing loans to total loans unchanged at 0.54%, and the allowance for credit losses increasing to $67.8 million due to strong loan growth Asset Quality Metrics | Metric | Mar 31, 2025 | Dec 31, 2024 | Mar 31, 2024 | | :--- | :--- | :--- | :--- | | Non-Performing Loans / Total Loans | 0.54% | 0.54% | 0.91% | | Allowance for Credit Losses | $67.8 million | $63.3 million | $58.5 million | - The increase in the allowance for credit losses from the prior quarter was primarily due to loan growth[19](index=19&type=chunk) - Loan production was robust at **$409.8 million** for the first quarter of 2025, compared to **$309.0 million** in the prior quarter and **$269.6 million** in the prior year period[7](index=7&type=chunk)[31](index=31&type=chunk) [Supplementary Information](index=5&type=section&id=Supplementary%20Information) This section provides details on the upcoming Q1 2025 earnings conference call, an overview of Metropolitan Bank Holding Corp., and comprehensive unaudited financial statements [Conference Call Information](index=5&type=section&id=Conference%20Call) The company will host a conference call on Tuesday, April 22, 2025, at 9:00 a.m. ET to discuss the first-quarter results, accessible via telephone and a live internet webcast - A conference call to discuss Q1 2025 results is scheduled for **9:00 a.m. ET** on **April 22, 2025**[20](index=20&type=chunk) - Access details for the live call and webcast replay are provided in the Investor Relations section of the company's website[21](index=21&type=chunk)[22](index=22&type=chunk) [About Metropolitan Bank Holding Corp.](index=5&type=section&id=About%20Metropolitan%20Bank%20Holding%20Corp.) Metropolitan Bank Holding Corp. is the parent company of Metropolitan Commercial Bank, a New York City-based commercial bank serving diverse clients, recognized with multiple industry accolades - The company is the parent of Metropolitan Commercial Bank, a full-service commercial bank based in New York City[23](index=23&type=chunk) - The bank has received multiple awards, including being named one of Newsweek's Best Regional Banks and earning a place in the Piper Sandler Bank Sm-All Stars Class of 2024[24](index=24&type=chunk) [Financial Statements and Reconciliations](index=8&type=section&id=Financial_Tables) This section provides detailed, unaudited financial statements and supplementary data for the period ending March 31, 2025, including the Consolidated Balance Sheet, Income Statement, and reconciliation of non-GAAP measures - Includes the Consolidated Balance Sheet as of **March 31, 2025**, and for the four preceding quarters[29](index=29&type=chunk) - Contains the Consolidated Statement of Income for the three months ended **March 31, 2025**, **December 31, 2024**, and **March 31, 2024**[30](index=30&type=chunk) - Provides a reconciliation of GAAP to non-GAAP financial measures, such as tangible common equity and tangible book value per share[38](index=38&type=chunk)

Metropolitan Bank Holding Corp. (MCB) has announced a new share repurchase program. Under the plan, the company has been authorized to buy back shares worth $50 million. There is no expiration date for the program.In the last two years, MCB did not have any share repurchase plan in place.Also, the company does not pay any dividends to its shareholders.Mark R. DeFazio, president and CEO of Metropolitan Bank Holding, said, “This move reflects our confidence in the Company’s long-term growth trajectory and the ...

Group 1 - Metropolitan Bank Holding Corp. (NYSE: MCB) has experienced strong growth in the past year but is expected to maintain decent performance in FY25 due to improved liquidity and diversification [1] - The analyst has a background in logistics and stock investing, focusing on ASEAN and NYSE/NASDAQ stocks, particularly in banks, telecommunications, logistics, and hotels [1] - The analyst has been trading in the Philippine stock market since 2014 and has diversified investments across various industries and market capitalizations, including US markets since 2020 [1] Group 2 - The article does not provide any specific financial metrics or performance indicators for Metropolitan Bank Holding Corp. [1]

Financial Position - As of December 31, 2024, the Company's total assets amounted to $7.3 billion, with loans and deposits each totaling $6.0 billion, and stockholders' equity at $729.8 million[20]. - As of December 31, 2024, the Company had $210.0 million of Federal funds purchased and $240.0 million of FHLBNY advances outstanding[77]. - As of December 31, 2024, the Company’s loan portfolio consisted of $5.9 billion, with 98.3% attributed to commercial real estate (CRE) and commercial and industrial (C&I) loans[155]. - The Company reported an accumulated other comprehensive loss of $53.1 million, net of tax, related to unrealized losses in the available-for-sale (AFS) securities portfolio, negatively impacting stockholders' equity[176]. - At December 31, 2024, the Company held AFS securities with an amortized cost of $559.1 million and a fair value of $482.1 million, indicating a significant decline in market value[176]. Business Focus and Strategy - The Company focuses on middle-market businesses with annual revenues between $5 million and $400 million, and real estate entrepreneurs with a net worth of $50 million or more[23][28]. - The Company aims to differentiate itself through excellent service, competitive products, and timely lending decisions, focusing on underserved markets[29][27]. - The Company intends to continue expanding its tailored banking solutions and deepen client relationships to enhance market share[31]. - The Company aims to convert lending clients into full retail clients to expand its retail presence, particularly in the New York City metropolitan area[54]. - The Company intends to continue emphasizing CRE and C&I lending, which are subject to heightened regulatory focus and risk management practices[156]. Loan Portfolio and Risk Management - At December 31, 2024, 38.8% of the Company's real estate loan portfolio, or $1.9 billion, was comprised of loans to the healthcare industry, primarily for nursing and residential care facilities[40]. - The Company's C&I loan portfolio included $355.1 million, or 33.9%, in loans to the healthcare industry, with $238.1 million, or 67.0%, specifically to nursing and residential care facilities[49]. - Construction loans comprised 3.4% of the Company's loan portfolio as of December 31, 2024, with strict underwriting standards in place[45]. - The allowance for credit losses (ACL) is subject to significant estimates and judgments, and if insufficient, could materially decrease net income[158]. - Federal and state regulators periodically review the ACL, and any required increases could adversely affect the Company’s financial condition[160]. Regulatory Environment - The Company is a bank holding company and is subject to regulation and supervision by the Federal Reserve Board (FRB)[94]. - The FRB regulations require state member banks to meet several minimum capital standards, effective January 1, 2015[109]. - The capital standards require a common equity Tier 1 capital ratio of at least 4.5%, a Tier 1 capital ratio of at least 6%, and a total capital to risk-weighted assets ratio of at least 8%[110]. - The minimum required capital conservation buffer was at 2.5% of risk-weighted assets as of December 31, 2024[112]. - The latest CRA rating received by the Company was "Satisfactory" for the examination conducted in 2022[127]. Operational and Compliance Risks - The Company is subject to the BSA and the USA PATRIOT Act, which impose requirements for anti-money laundering compliance programs[129]. - The federal banking agencies have increased scrutiny of BSA and anti-money laundering programs, with significant penalties for non-compliance[134]. - The Company maintains internal controls and insurance to mitigate operational risks, but failures in these systems could have a material adverse impact on financial results[187]. - Operational risks include potential financial losses from employee errors and misconduct, which could impact the Company's reputation and financial condition[186]. - The Company is undertaking initiatives to expand digital capabilities and improve information technology systems, which may require significant resources and could adversely affect business operations if not executed successfully[185]. Employee and Organizational Development - As of December 31, 2024, the Company employed 291 full-time employees and 2 part-time employees, reflecting an increase of 16 employees or approximately 5.8% from December 31, 2023[78]. - The ratio of women and men in the Company is 45% and 55% respectively, with approximately 31.7% of employees identified as minorities as of December 31, 2024, down from 35.4% in 2023[80]. - The Company offers a competitive, performance-based compensation and benefits plan, including comprehensive healthcare coverage and a 401(k) plan with a Company match[81]. - The Company enhanced its New Employee Orientation in 2024 to provide a more comprehensive welcome experience for new hires[84]. - Employees are required to complete annual training in compliance, financial crimes compliance, and cybersecurity, among other topics, via the Company's Learning Management System[84]. Market and Economic Risks - The Company is particularly vulnerable to economic downturns in New York City, where a significant portion of its loans and operations are concentrated[169]. - Rising inflation and market interest rates could lead to increased non-interest expenses and negatively impact the Company's financial condition and results of operations[165]. - Changes in interest rates may adversely affect the Company's net interest income and profitability, particularly if liabilities reprice more quickly than assets[172]. - The Company’s loan portfolio includes many real estate secured loans, which may see decreased demand during economic downturns, leading to higher delinquencies and charge-offs[166]. - Climate change and global pandemics pose risks that could adversely affect the Company's financial condition and operational results[198][201]. Future Outlook and Growth - The Company expects to grow the number of employees and customers, but may not sustain its historical growth rate[210]. - The Company plans to increase its portfolio of commercial loans, which generally carry higher risks compared to residential mortgage loans[157]. - The exit from the GPG BaaS business may incur unanticipated costs and risks, potentially impacting future financial results[202]. - Increased regulatory scrutiny of non-bank financial service solutions could adversely affect the Company's operations and growth prospects[203]. - The Company's ability to grow depends on successfully attracting deposits and identifying loan opportunities, which may be challenging[209].

Core Viewpoint - Metropolitan Bank Holding Corp. (MCB) has seen a 1.5% increase in share price over the past four weeks, closing at $61.89, with analysts suggesting a potential upside of 32.8% based on a mean price target of $82.17 [1] Price Targets - The average price target for MCB is derived from three short-term estimates, ranging from a low of $78 to a high of $85, with a standard deviation of $3.69, indicating a relatively high agreement among analysts [2] - The lowest estimate suggests a 26% increase from the current price, while the highest indicates a 37.3% upside [2] Analyst Sentiment - Analysts show strong agreement regarding MCB's ability to report better earnings than previously predicted, which supports the expectation of an upside [4] - A positive trend in earnings estimate revisions has been correlated with stock price movements, suggesting that this could be a reliable indicator of potential gains [9] Earnings Estimates - Over the past 30 days, one earnings estimate for MCB has increased, with no negative revisions, leading to a 4% rise in the Zacks Consensus Estimate [10] - MCB holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate factors, indicating strong potential for near-term upside [11] Conclusion on Price Targets - While the consensus price target may not be a definitive measure of MCB's potential gains, the direction indicated by these targets appears to be a useful guide for investors [12]

Core Viewpoint - Value investing remains a preferred strategy for identifying strong stocks, focusing on undervalued stocks with potential for profit [2][8] Company Summary: Metropolitan Bank Holding (MCB) - MCB has a Zacks Rank of 2 (Buy) and an A for Value, indicating strong potential [4] - The stock's current P/E ratio is 8.69, significantly lower than the industry average of 11.21 [4] - MCB's Forward P/E has fluctuated between 5.17 and 9.67 over the past year, with a median of 7.21 [4] - The P/B ratio for MCB is 1.01, compared to the industry average of 1.33, suggesting it is attractively valued [5] - MCB's P/B has ranged from 0.54 to 1.05 in the past year, with a median of 0.79 [5] - The P/S ratio for MCB stands at 1.47, lower than the industry's average of 1.86, indicating potential undervaluation [6] - MCB's P/CF ratio is 12.53, which is favorable compared to the industry average of 24.89 [7] - The P/CF has varied between 5.13 and 14.75 over the past year, with a median of 8.16 [7] - Overall, MCB appears to be undervalued based on these metrics and has a strong earnings outlook, making it one of the market's strongest value stocks [8]

Financial Data and Key Metrics Changes - The company reported a net income of $21.4 million, translating to $1.88 per share for Q4 2024, indicating a strong performance [3] - Quarterly net interest income increased by 16.9% compared to Q4 2023, while annual net interest income rose by 13.6% versus the full year 2023 [3] Business Line Data and Key Metrics Changes - The company successfully exited the Banking as a Service (BaaS) business, which had been a complementary operation for 22 years [4] Market Data and Key Metrics Changes - No specific market data or key metrics changes were provided in the available content Company Strategy and Development Direction and Industry Competition - The exit from the BaaS business is part of a strategic initiative, with one initiative concluded and another still ongoing [4] Management's Comments on Operating Environment and Future Outlook - Management expressed satisfaction with the strong performance in Q4 2024, indicating a positive outlook for the company's financial health [3] Other Important Information - The call included a reminder about forward-looking statements and risks associated with actual results differing from projections [1] Q&A Session All Questions and Answers - No specific questions and answers from the Q&A session were provided in the available content

Core Viewpoint - Metropolitan Bank Holding Corp. reported quarterly earnings of $1.88 per share, exceeding the Zacks Consensus Estimate of $1.49 per share, and showing an increase from $1.28 per share a year ago, representing an earnings surprise of 26.17% [1] Financial Performance - The company posted revenues of $71 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 5.98%, compared to $63.56 million in the same quarter last year [2] - Over the last four quarters, Metropolitan Bank Holding has exceeded consensus EPS estimates three times and has topped consensus revenue estimates three times as well [2] Stock Performance and Outlook - Since the beginning of the year, Metropolitan Bank Holding shares have increased by approximately 3.3%, slightly underperforming the S&P 500's gain of 3.5% [3] - The company's earnings outlook is mixed, with a current Zacks Rank of 3 (Hold), indicating expected performance in line with the market in the near future [6] Future Earnings Estimates - The current consensus EPS estimate for the upcoming quarter is $1.57 on revenues of $68.6 million, and for the current fiscal year, it is $7.03 on revenues of $289.5 million [7] Industry Context - The Banks - Northeast industry, to which Metropolitan Bank Holding belongs, is currently ranked in the top 20% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]

Financial Performance - Metropolitan Bank Holding Corp. reported net income of $21.4 million, or $1.88 per diluted common share, for Q4 2024, compared to $12.3 million, or $1.08 per diluted common share, for Q3 2024, and $14.6 million, or $1.28 per diluted common share, for Q4 2023[3] - Net income for Q4 2024 was $21,418,000, a 47.0% increase from $14,568,000 in Q4 2023[36] - Basic earnings per share for Q4 2024 were $1.91, compared to $1.31 in Q4 2023, reflecting a growth of 45.8%[36] - The effective tax rate for the year 2024 was 31.3%, compared to 27.7% for the prior year[23] Loan and Deposit Trends - Total loans increased to $6.0 billion at December 31, 2024, up $137.0 million, or 2.3%, from September 30, 2024, and up $409.3 million, or 7.3%, from December 31, 2023[3] - Total deposits were $6.0 billion at December 31, 2024, reflecting a decrease of $286.9 million, or 4.6%, from September 30, 2024, but an increase of $245.7 million, or 4.3%, from December 31, 2023[8] - Loan production for Q4 2024 was $309.0 million, a decrease of 32.9% from $460.6 million in Q3 2024[35] - Total deposits decreased to $5,982,973,000 as of December 31, 2024, from $6,269,907,000 on September 30, 2024, representing a decline of about 4.6%[33] Interest Income and Margin - Total interest income for Q4 2024 was $119,829,000, an increase of 13.9% compared to $105,267,000 in Q4 2023[34] - Net interest income after provision for credit losses for Q4 2024 was $65,103,000, up 28.9% from $50,453,000 in Q4 2023[34] - The net interest margin for Q4 2024 was 3.66%, an increase of 4 basis points from the prior linked quarter and 30 basis points from the prior year period[14] - The average yield on total interest-earning assets rose to 6.53% for the year ended December 31, 2024, compared to 5.88% in the previous year[43] Asset Management - The bank's total assets as of December 31, 2024, were $7,300,749,000, a decrease from $7,403,358,000 on September 30, 2024[33] - Total assets reached $7,293,445 thousand, an increase from $6,506,614 thousand in the previous year[43] - Average assets for Q4 2024 were $7,363,252, compared to $6,861,335 in Q4 2023, indicating a year-over-year increase of about 7.3%[47] Non-Interest Income and Expenses - Non-interest income for Q4 2024 was $4.4 million, a decrease of $1.9 million from the prior linked quarter and a decrease of $2.2 million from the prior year period[19] - Non-interest expense for Q4 2024 was $38.2 million, a decrease of $13.1 million from the prior linked quarter, primarily due to a pre-tax regulatory reserve recorded in Q3 2024[21] - Total non-interest income decreased to $4,401,000 in Q4 2024 from $6,561,000 in Q4 2023, representing a decline of 32.9%[34] Credit Quality - The allowance for credit losses was $63.3 million at December 31, 2024, an increase of $780,000 from September 30, 2024, and $5.3 million from December 31, 2023[25] - The ratio of non-performing loans to total loans was 0.54% at December 31, 2024, compared to 0.53% for the prior linked quarter and 0.92% at December 31, 2023[24] - Non-performing loans to total loans ratio was 0.54% as of December 31, 2024, slightly up from 0.53% in September 2024[35] Capital and Equity - Tier 1 Leverage for Metropolitan Bank Holding Corp. was 10.8% as of December 31, 2024, up from 10.6% in September 2024[35] - The return on average equity for Q4 2024 was 11.8%, significantly higher than 6.9% in Q3 2024[36] - Average common equity for Q4 2024 reached $721,506, up from $643,257 in Q4 2023, indicating a year-over-year increase of about 12.2%[47] Recognition and Future Initiatives - The company is progressing on its digital transformation initiative, expected to be completed by year-end 2025[4] - Metropolitan Bank Holding Corp. was recognized as one of Newsweek's Best Regional Banks and Credit Unions for 2025[29]

Group 1 - Metropolitan Bank Holding Corp (NYSE: MCB) is a small bank with a market capitalization of $659.7 million [1] - The bank has garnered interest due to its potential in the financial sector [1] Group 2 - Crude Value Insights focuses on investing in oil and natural gas, emphasizing cash flow generation [2] - The service aims to identify companies with value and growth prospects in the energy sector [2]