MCB Q2 EPS $1.37 vs $2.07 YoY; NIM 3.44%; loans up 17.7% YoY; crypto exit complete

Metropolitan Bank Holding Corp.

2023-Q2 EPS reported $3.59 revenue$14,836,000

Net income $15.6M ($1.37 diluted EPS) vs $23.2M ($2.07) a year ago; provision for credit losses $4.3M.
Net interest margin 3.44% (down 42 bps QoQ, up 17 bps YoY); total cost of funds 252 bps.
Loans $5.1B +17.7% YoY; non-crypto deposits +7.8% QoQ; insured deposits rise to 73% of total.
Non-performing loans / total loans 0.47% vs 0.00% a year ago; ACL at $51.7M.
Effective tax rate 37.4% due to discrete stock-award rescission; total risk-based capital 13.2%.

item 2.02 item 7.01 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 the second quarter of 2023 results: net income $15.6 million, EPS $1.37 per diluted common share.

Period: the second quarter of 2023
Net income: $15.6 million
EPS: $1.37 per diluted common share
Result: reported results

Exact text from the filing

reported net income of $15.6 million, or $1.37 per diluted common share, for the second quarter of 2023

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Metropolitan Bank Holding Corp. filing history →

Source: SEC EDGAR

accession 0001558370-23-012009

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