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. (MCB) reported significant annual financial growth for 2022, with revenues increasing by 41.5% and net interest income rising 46.0%, totaling $229.2 million. The net income stood at $59.4 million or $5.29 per diluted share, despite a $35.0 million charge for a regulatory settlement. Loans increased 29.7% to $4.8 billion. However, the fourth quarter saw a net loss of $7.7 million, compared to net income from the previous year, reflecting challenges including rising interest rates and deposit outflows. The bank remains well-capitalized, with total assets at $6.3 billion.
Metropolitan Bank Holding Corp. (NYSE: MCB) has announced its decision to fully exit the crypto-asset related vertical, driven by regulatory changes and a strategic reassessment. The bank's four active institutional crypto clients contribute approximately 1.5% of total revenues and 6% of deposits. MCB expects minimal financial impact from this exit, as it does not hold crypto-assets or provide loans to these clients. The orderly exit process is expected to be completed within 2023, ensuring continued service for non-crypto customers.
Metropolitan Bank Holding Corp. (NYSE: MCB) will announce its fourth quarter and full year 2022 financial results on January 19, 2023, after market close. A conference call is scheduled for 9:00 a.m. ET on January 20, 2023, to discuss these results. Investors can join the call by dialing 800-245-3047 (US) or 203-518-9765 (International) and using conference ID: MCBQ422. The call will also be available via live webcast, with a replay accessible later that day.
The Mayor of New York City, Eric Adams, has declared November 17, 2022, as 'Metropolitan Commercial Bank Day.' This recognition honors MCB's contributions over 23 years in improving access to essential resources for low-income individuals, minorities, and immigrants. The bank remained operational during the COVID-19 pandemic, offering crucial services. CEO Mark R. DeFazio expressed gratitude towards the bank's employees for their dedication. MCB is recognized as one of the fastest-growing companies and has a strong presence in various financial sectors.
Metropolitan Bank Holding Corp. (NYSE: MCB) reported a 48.1% year-over-year increase in revenues, reaching $69.1 million for Q3 2022. Net income surged 53.9% to $25 million, with diluted earnings per share at $2.23. Loans rose 28.1% year-over-year, totaling $4.6 billion, while deposits increased by 5% to $5.7 billion. The net interest margin improved to 3.85%, up 115 basis points. Despite challenges in the economic outlook, CEO Mark DeFazio expressed confidence in MCB's performance and operational efficiency.
Metropolitan Bank Holding Corp. (NYSE: MCB) has announced it will release its third quarter financial results on October 20, 2022, after market close. A conference call to discuss these results is scheduled for 9:00 a.m. ET on October 21, 2022. Interested parties can access the call by dialing 800-245-3047 (US) or 785-424-1699 (INTL) with conference ID: MCBQ322. The call will also be streamed live online, with a replay available later on the same day.
Metropolitan Bank Holding Corp. (NYSE: MCB) reported a robust performance for Q2 2022 with net income rising to $23.2 million ($2.07 per diluted share), up 73.9% year-over-year. Total revenues increased 44.4% to $62.3 million, driven by a 26.8% growth in loans, totaling $4.4 billion. The bank's net interest margin improved to 3.27%, reflecting higher yields from loans and securities. Deposits also grew 16.8% to $6.2 billion. Despite increases in non-interest expenses, asset quality remained strong with no charge-offs reported.
Global Primex has launched its new digital payments platform, VLoad, in collaboration with Metropolitan Commercial Bank (NYSE: MCB). This innovative payment solution emphasizes privacy and security, benefiting merchants by improving revenue through enhanced fraud prevention and dispute management. Targeting industries like online gaming and subscription services, VLoad connects verified consumers with merchants to minimize fraud risks. The platform is accessible via multiple payment methods, presenting a promising advancement in secure digital transactions.
Metropolitan Bank Holding Corp. (NYSE: MCB) will release its second quarter financial results on July 21, 2022, after market close. A conference call to discuss these results is scheduled for 9:00 a.m. ET on July 22, 2022. Interested parties can access the call by dialing 866-518-6930 (US) or 203-518-9797 (International) and providing conference ID: MCBQ222. The call will also be streamed live online. Metropolitan Bank offers various banking services and is recognized among the fastest-growing companies by Fortune.