secwatch.observer — SEC 8-K summary
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Issuer:     Metropolitan Bank Holding Corp. (MCB)
CIK:        0001476034
Form:       8-K
Filed at:   2023-07-20T23:59:59+00:00
Accession:  0001558370-23-012009
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1476034/000155837023012009/0001558370-23-012009-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1476034/000155837023012009/mcb-20230720x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-012009

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