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 ...

Core Viewpoint - Metropolitan Bank Holding Corp. (MCB) is anticipated to report a year-over-year increase in earnings driven by higher revenues for the quarter ended June 2024, with actual results being a significant factor influencing its near-term stock price [1]. Earnings Expectations - The company is expected to post quarterly earnings of $1.57 per share, reflecting a year-over-year change of +14.6% [2]. - Revenues are projected to be $68.02 million, representing a 10.4% increase from the same quarter last year [4]. Analyst Insights - The consensus EPS estimate has been revised 0.65% lower over the last 30 days, indicating a reassessment by covering analysts [4]. - The Most Accurate Estimate for MCB is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +5.73%, suggesting a more optimistic outlook from analysts [16]. Historical Performance - In the last reported quarter, MCB was expected to earn $1.28 per share but exceeded expectations with earnings of $1.46, achieving a surprise of +14.06% [8]. - Over the past four quarters, MCB has beaten consensus EPS estimates two times [19]. Market Context - The earnings report is scheduled for release on July 18, 2024, and could influence the stock's movement depending on whether the results meet or exceed expectations [12]. - The company currently holds a Zacks Rank of 5, indicating a less favorable outlook compared to other stocks [7].

LukaTDB When it comes to the current fiscal year, the picture looks a bit different. Net interest income continued its descent, dropping from $57.9 million in the first quarter of last year to $52.9 million the same time this year. In addition to suffering from a larger debt balance and a surge in costly deposits, the bank took a hit from its net interest margin. This managed to fall from 3.86% last year to 3.40% this year. Also, when I say that deposits are costly, the total cost of deposits in the most re ...

Over the past 60 days, the Zacks Consensus Estimate for 2024 and 2025 earnings has moved north by 3.2% and 1.4%, respectively. MCB currently carries a Zacks Rank #2 (Buy). Moreover, at the beginning of 2024, MCB began implementing an innovative digital transformation project to enhance its capabilities and operational efficiency. This is further likely to aid bottom-line expansion. Revenue Strength: Driven by strong loan growth and various deposit-gathering strategies, Metropolitan Bank's net revenues witne ...

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks. Metropolitan Bank Holding (MCB) is a stock many investors are watching right now. MCB is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock holds a P/E ratio of 5.87, while its industry has an averag ...

Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. Some people prefer this metric because sales are harder to manipulate on an income statement. This means it could be a truer performance indicator. MCB has a P/S ratio of 1.12. This compares to its industry's average P/S of 1.57. Finally, our model also underscores that MCB has a P/CF ratio of 7.23. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based o ...