Metropolitan Bank Holding Corp. reports news as the holding company for Metropolitan Commercial Bank, a New York City-based full-service commercial bank. Updates focus on commercial, business and personal banking for individuals, small businesses, middle-market enterprises, institutions, municipalities and local government entities, with recurring coverage of lending, deposits, treasury management and client verticals such as real estate, property management, legal services, healthcare, government banking and EB-5 financial solutions.
Company announcements also cover quarterly financial results, capital ratios, common stock dividends, completed equity financing activity, banking-center and regional platform expansion, specialty lending and underwriting roles, investor presentations, and community banking initiatives.
Metropolitan Bank Holding Corp. (NYSE: MCB) reported a strong financial performance for 2021, with net income increasing by 53.4% to $60.6 million, translating to $6.45 per diluted share. Total revenues rose 27.3% to $180.7 million, driven by a 94.3% increase in Banking-As-A-Service revenues. Loans reached $3.7 billion, up 19%, while deposits surged 68% to $6.4 billion. The tangible book value per share grew by 27.6% to $50.09. Additionally, the efficiency ratio improved to 48.3%, showcasing effective cost management.
Metropolitan Bank Holding Corp. (NYSE: MCB) will announce its fourth quarter and full year 2021 financial results on January 20, 2022, after market close. A conference call is scheduled for January 21, 2022, at 9:00 a.m. ET to discuss these results. Investors can access the call by dialing 866-342-8591 (US) or 203-518-9713 (International) with conference ID: MCBQ421. The call will also be streamed live online. Metropolitan Bank, based in New York City, offers various banking products and services and is recognized as one of the 100 Fastest-Growing Companies by Fortune.
Metropolitan Commercial Bank (NYSE: MCB) has partnered with Modern Treasury to enhance automated payment operations, streamlining the management of money movement. This integration allows clients to track transactions in real-time and reconcile cash across multiple accounts efficiently. Named a leader in digital payments, MCB aims to provide cutting-edge global payment solutions. The partnership promises increased visibility into payments and is expected to benefit entrepreneurial clients across the U.S.
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Metropolitan Bank Holding Corp. (NYSE: MCB) has appointed Chaya Pamula and Katrina Robinson to its Board of Directors, effective October 25, 2021. Pamula, a technologist and entrepreneur, and Robinson, a trust company CEO, bring significant industry expertise. These appointments aim to bolster the bank's strategic plan to enhance leadership and succession planning. Concurrently, David Gavrin, a founding director, will retire on December 31, 2021, after over 20 years of service. The board will expand to 12 members after these changes, reflecting the company’s commitment to growth and innovation.
Metropolitan Bank Holding Corp. (NYSE: MCB) reported strong third-quarter results, with net income reaching $16.2 million, or $1.77 per diluted share, a 50.4% increase year-over-year. Total revenues hit $46.7 million, up 29.8% from last year. Loans increased to $3.6 billion and deposits rose to $5.5 billion, reflecting respective increases of 20.5% and 54.7% year-over-year. The efficiency ratio improved to 49.7%, and capital raised reached $172.5 million. The bank remains well-capitalized and is positioned for future growth in the Global Payments sector.
Metropolitan Bank Holding Corp. (NYSE: MCB) has successfully completed its underwritten public offering of 2,300,000 shares at $75.00 per share, generating approximately $172.5 million in gross proceeds. The offering included 300,000 shares from an underwriter's option. The net proceeds will fund various corporate needs, including debt repayment, share repurchases, and investments in the Bank. J.P. Morgan and Keefe, Bruyette & Woods acted as joint book-running managers for the offering.
Metropolitan Bank Holding Corp. (NYSE: MCB) has announced a public offering of 2,000,000 shares at $75.00 each, potentially raising $150.0 million. If underwriters exercise their option for 300,000 additional shares, total proceeds could reach $172.5 million. The funds are intended for general corporate purposes, including debt repayment, share repurchases, and investments in the Bank. The offering is set to close on September 20, 2021.
Metropolitan Bank Holding Corp. (NYSE: MCB) announced an underwritten public offering of $150 million in common stock, with an option for underwriters to purchase up to an additional $22.5 million. The proceeds will be used for general corporate purposes, including debt repayment, share repurchases, and investments in the Bank. J.P. Morgan and Keefe, Bruyette & Woods are the joint book-running managers. A shelf registration statement has been filed with the SEC for this offering.
Metropolitan Bank Holding Corp. (NYSE: MCB) reported a net income of $13.3 million or $1.55 per diluted share for Q2 2021, up from $10.8 million or $1.29 per share in Q2 2020. Total revenues increased by 20.4% to $43.1 million. Loans and deposits rose 19.3% and 55.8% year-over-year, respectively. The company’s efficiency ratio improved to 50.3%. However, net interest margin decreased to 2.68%, down from 3.19% a year prior, attributed to lower-yielding deposits. Overall, MCB maintains a strong financial position with a solid asset base and credit quality.