Metropolitan Bank Holding Corp. (MCB) came out with quarterly earnings of $1.86 per share, beating the Zacks Consensus Estimate of $1.55 per share. This compares to earnings of $1.97 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 20%. A quarter ago, it was expected that this company would post earnings of $1.57 per share when it actually produced earnings of $1.50, delivering a surprise of -4.46%. Over the last four quarters ...

AndreyPopov/iStock via Getty Images MCB Real Estate has increased their buyout bid for Whitestone REIT (NYSE:WSR) to $15 per share. This clearly has investment implications for WSR shareholders, so this article will attempt to answer the following questions: What is WSR worth? Will there be competing bidders? What is WSR's outlook if it remains a standalone company? Should WSR take the deal? Hostile takeover In REIT M&A there are often friendly takeovers in which the acquirer is welcomed by the company and ...

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Investors in Metropolitan Bank Holding Corp. (MCB) need to pay close attention to the stock based on moves in the options market lately. That is because the Sep 20, 2024 $17.50 Put had some of the highest implied volatility of all equity options today. What is Implied Volatility? Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other ...

Financial Data and Key Metrics Changes - The company reported a net interest margin (NIM) increase of four basis points to 3.44% in the second quarter, marking the third consecutive quarter of NIM expansion [3][6] - Earnings per share (EPS) for the second quarter was $1.50, which included a $0.34 net impact from the GPG wind down and digital transformation expenses [4] - Non-interest income expectations for 2024 have been slightly increased to $20 million to $22 million, with a forecast for BaaS revenue to total $9 million to $11 million [10][12] Business Line Data and Key Metrics Changes - The loan book grew by approximately $120 million in the second quarter, with significant contributions from commercial and industrial (C&I) loans and commercial real estate (CRE) loans [7] - The weighted average coupon on new loan originations was 8.81%, while the coupon on upcoming loan maturities for the remainder of 2024 is closer to 7.5% [8] - Non-interest expenses totaled $42.3 million in the second quarter, with $1.7 million related to the digital transformation project and $3.8 million for regulatory remediation [10][11] Market Data and Key Metrics Changes - Deposits declined by approximately $68 million, primarily due to a $60 million decrease in GPG deposits, although there was a $70 million increase in property manager deposits [8] - The company expects to replace the outflow of GPG deposits with core deposits, with a blended cost of remaining balances around 1.5% [23] Company Strategy and Development Direction - The company is focused on the wind down of the GPG business and the digital transformation project, both of which are on schedule and within budget [4] - A more conservative approach to loan growth has been adopted, with a revised forecast of approximately $500 million to $600 million for the full year 2024 [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the core commercial banking franchise and noted no broad-based negative trends impacting the loan portfolio [5] - The company anticipates material enhancements in regulatory remediation processes and expects significant costs associated with these to end by the end of the year [20] Other Important Information - The effective tax rate for the quarter was approximately 30%, with expectations to rise to 31% to 32% going forward [12] - The company has a digital transformation budget of $12 million to $13 million, with expectations to complete the project in 2025 [11] Q&A Session Summary Question: Expectations on GPG deposits exit - Management expects about $350 million to exit in the current quarter and $450 million in the fourth quarter [16] Question: Key sources of funding to replace deposits - The company plans to rely on existing verticals and sees opportunities in lending customers [17] Question: Loan growth factors - The slower loan growth is attributed to pricing discipline rather than a lack of demand [19] Question: Update on regulatory remediation process - Management reported good progress and alignment with regulators, expecting costs to materially decrease by year-end [20] Question: Breakdown of remaining GPG deposits - The blended cost of remaining balances is around 1.5% [23] Question: NIM guidance assumptions - The NIM guidance assumes that deposits with a 4% handle will replace the entirety of the GPG deposits [24] Question: Handling of multi-family loans - Multi-family loans that came due were refinanced elsewhere, as the company has not engaged significantly in that space [31] Question: Impact of CrowdStrike situation - There was a minor service disruption affecting ACH postings and payroll, but it has been rectified [43]

• Help clients build and sustain generational wealth. Total Return Performance Since IPO relative to KRX² and NYC Banks³,Ī Well Managed Net Interest Margin Deposits ($ bn) 4 Proven Growth-Oriented Business Model with Strong Risk Management, Poised to Deliver Significant Shareholder Value 15.8% 6.5% Metropolitan Commercial Bank KRX Index² 2 1 Represents effective average daily Fed Funds rate. Deposit Profile at June 30, 2024 Service Areas 1 Forward-looking statements speak only as of the date of this present ...

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how Metropolitan Bank Holding performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Efficiency Ratio: 62.4% versus 59.3% estimated by two analysts on average. Net Interest Margin: 3.4% compared to the 3.4% average estimate based on two a ...

Metropolitan Bank Holding Corp. (MCB) came out with quarterly earnings of $1.50 per share, missing the Zacks Consensus Estimate of $1.57 per share. This compares to earnings of $1.37 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -4.46%. A quarter ago, it was expected that this company would post earnings of $1.28 per share when it actually produced earnings of $1.46, delivering a surprise of 14.06%. Over the last four quart ...

Exhibit 99.1 Release: 4:05 P.M. July 18, 2024 212-365-6721 IR@MCBankNY.com Metropolitan Bank Holding Corp. Reports Second Quarter 2024 Results Strong Earnings, Liquidity, Capital and Asset Quality While Executing Strategic Initiatives Financial Highlights Balance Sheet Total cash and cash equivalents were $244.7 million at June 30, 2024, a decrease of $289.7 million, or 54.2%, from March 31, 2024 and an increase of $42.9 million, or 21.3%, from June 30, 2023. The decrease from March 31, 2024, primarily refl ...

Metropolitan Bank Holding Corp. (MCB) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. This company is expected to post quarterly earnings of $1.57 per share in its upcoming report, which represents a year-over-yea ...