Welcome to our dedicated page for Metropolitan Bank news (Ticker: MCB), a resource for investors and traders seeking the latest updates and insights on Metropolitan Bank stock.
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.
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Metropolitan Bank Holding Corp. (NYSE: MCB) reported robust financial results for Q1 2023, achieving a net income of $25.1 million, representing a 31.8% year-over-year increase. Diluted earnings per share rose 33.1% to $2.25. Revenues reached $65.5 million, a 21.2% increase, while net interest income climbed 25.5% to $58.5 million.
Despite modest loan growth, totaling $4.9 billion (up 17.7% year-over-year), total deposits decreased by 2.8% from the previous quarter due to the company's exit from crypto-related services. The bank's capital position remains strong, with a total risk-based capital ratio of 13.6% and a net interest margin of 3.86%.