MCB reports Q4 net loss of $7.7M on $35M regulatory reserve; adjusted EPS $2.43

Metropolitan Bank Holding Corp.

2022-FY EPS reported $5.29 revenue$26,851,000

Q4 2022 net loss of $7.7M ($0.71 diluted loss) vs net income of $18.9M in Q4 2021.
Adjusted net income of $27.3M ($2.43 diluted EPS) excluding the $35M regulatory settlement reserve.
Full year 2022 net income $59.4M ($5.29 diluted EPS); adjusted net income $94.4M ($8.42 diluted EPS).
Net interest income rose 42.6% YoY to $63.9M; NIM expanded 146 bps to 4.05%.
Accrued $35M pre-tax charge for Federal Reserve and NYSDFS investigations regarding a prepaid debit card program.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Metropolitan Bank Holding Corp. reported financial results for the fourth quarter and full year ending 2022.

Period: the fourth quarter and full year ending 2022
Result: reported results

Exact text from the filing

On January 20, 2023, Metropolitan Bank Holding Corp. (the “Company”), the holding company for Metropolitan Commercial Bank (the “Bank”), issued a press release announcing its financial results for the fourth quarter and full year ending 2022.

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Metropolitan Bank Holding Corp. filing history →

Source: SEC EDGAR

accession 0001558370-23-000381

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