secwatch.observer — SEC 8-K summary
======================================

Issuer:     Metropolitan Bank Holding Corp. (MCB)
CIK:        0001476034
Form:       8-K
Filed at:   2023-04-18T23:59:59+00:00
Accession:  0001558370-23-006144
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Metropolitan Bank Q1 net income $25.1M, EPS $2.25, up 33% YoY; core deposits grow
--------------------------------------------------------------------------------

- Net income $25.1M ($2.25 diluted EPS) vs $19.0M ($1.69) in Q1 2022; revenues $65.5M up 21%.
- Net interest margin 3.86% (up 115 bps YoY); total loans $4.9B (+17.7% YoY); core deposits (ex-crypto) $4.9B, up $69M from Q4.
- Exiting crypto vertical nearly complete; crypto deposits $217.6M (4% of total) vs $278.5M at year-end.
- Insured deposits now 71% of total (up from 60% at Dec 2022); liquidity coverage at 208% of uninsured deposits.
- Non-performing loans rose to 0.50% from 0.00% prior quarters; regulatory settlement reserve reduced by $2.5M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1476034/000155837023006144/0001558370-23-006144-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1476034/000155837023006144/mcb-20230418x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-006144

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer