Metropolitan Bank Q3 2023: EPS $1.97, deposits +$233M QoQ, NII stable at $53.6M

Metropolitan Bank Holding Corp.

2023-Q3 EPS reported $5.61 revenue$21,413,000

Net income of $22.1M ($1.97 diluted EPS) vs $25.0M ($2.23) in Q3 2022 and $15.6M ($1.37) in Q2 2023.
Total deposits grew $233M QoQ to $5.5B; non-interest-bearing deposits declined to 31.6% of total.
Net loans increased $205M QoQ to $5.4B, led by CRE and C&I; loan production was $333.5M.
Net interest margin 3.27%, down 17 bps QoQ; cost of funds rose to 3.03% from 2.52%.
Asset quality: NPL/total loans 0.58%, ACL $52.3M; regulatory settlement reserve reversed $3.0M.

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 0.95

Metropolitan Bank Holding Corp. reported the third quarter of 2023 results: net income $22.1 million, EPS $1.97 per diluted common share.

Period: the third quarter of 2023
Net income: $22.1 million
EPS: $1.97 per diluted common share
Result: reported results

Exact text from the filing

Metropolitan Bank Holding Corp. (the "Company") (NYSE: MCB), the holding company for Metropolitan Commercial Bank (the "Bank"), reported net income of $22.1 million, or $1.97 per diluted common share, for the third quarter of 2023

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Source: SEC EDGAR

accession 0001558370-23-016541

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