Metropolitan Bank Q2 net income $23.2M ($2.07 EPS); revenue up 44.4% YoY

Metropolitan Bank Holding Corp.

2022-Q2 EPS reported $3.76 revenue$14,604,000

Q2 net income $23.2M ($2.07 diluted EPS) vs $13.3M ($1.55) YoY.
Total revenues $62.3M, up 44.4% YoY; Banking-as-a-Service revenues $5.2M, up 36.1%.
Net interest margin 3.27%, up 59 bps YoY; efficiency ratio improved to 42.2%.
Loans $4.4B, up 26.8% YoY; deposits $6.2B, up 16.8%; non-performing loans 0.00%.
Return on avg tangible common equity 16.7%; book value per share $52.54, up 22.4%.

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