Metropolitan Bank Q3 net income $12.3M ($1.08 EPS); NIM rises to 3.62% on loan growth, regulatory reserve weighs

Metropolitan Bank Holding Corp.

2024-Q3 EPS reported $4.04 revenue$19,392,000

Net income $12.3M ($1.08 diluted EPS) vs $16.8M ($1.50) in Q2 2024 and $22.1M ($1.97) in Q3 2023.
Net interest margin expanded to 3.62% from 3.44% in Q2 2024, driven by higher loan yields and prepayment fees.
Recorded $12.6M pre-tax charges including $10M regulatory reserve for fintech client investigation; EPS impact $0.78.
Total loans $5.9B (+$58.2M QoQ, +$542.6M YoY); deposits $6.3B (+$100.2M QoQ, +$748.3M YoY).
Non-performing loans stable at 0.53%; well-capitalized with total risk-based capital 13.2% (company) and 12.9% (bank).

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