MCB Q4 net income $21.4M ($1.88 EPS); NIM expands 30 bps YoY to 3.66%

Metropolitan Bank Holding Corp.

2024-FY EPS reported $5.93 revenue$23,936,000

Q4 EPS $1.88 vs $1.08 Q3 and $1.28 year ago; full-year EPS $5.93 vs $6.91 in 2023.
Net interest margin 3.66% (+30 bps YoY); total cost of funds 325 bps, down from Q3's 339 bps.
Total loans $6.0B (+7.3% YoY); deposits $6.0B (+4.3% YoY) despite $689M GPG deposit wind down.
Non-performing loans ratio 0.54%; allowance for credit losses $63.3M.
CEO cites successful exit of BaaS business and technology transformation on track for late 2025.

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