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

Issuer:     Metropolitan Bank Holding Corp. (MCB)
CIK:        0001476034
Form:       8-K
Filed at:   2024-04-18T23:59:59+00:00
Accession:  0001558370-24-005312
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MCB Q1 2024 net income $16.2M ($1.46 EPS); deposits up 8.7% QoQ; NIM expands 4bps
--------------------------------------------------------------------------------

- Net income $16.2M ($1.46 diluted EPS) vs $14.6M ($1.28) in Q4 2023 and $25.1M ($2.25) in Q1 2023.
- Total deposits grew $500.3M (8.7%) to $6.2B; loans increased $94.4M to $5.7B from Dec 31, 2023.
- Net interest margin 3.40%, up 4bps QoQ but down 46bps YoY; net interest income $59.7M.
- Non-interest expense $41.9M included $4.9M of GPG wind-down, regulatory remediation, and digital transformation costs.
- Asset quality stable: NPLs to total loans 0.91%; total risk-based capital ratio 12.9% (well capitalized).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1476034/000155837024005312/0001558370-24-005312-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1476034/000155837024005312/mcb-20240418x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-005312

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