Metro Phoenix Bank (MPHX) reported a net income of $1,587,000 for Q1 2021, translating to $0.42 per diluted share, a 116.51% increase from $733,000 in Q1 2020. The bank experienced a loan growth of 2.70% and deposit growth of 17.95%, with total assets increasing by 15.42% to $376.3 million year-over-year. The efficiency ratio stood at 41.33%, while the non-performing asset ratio remained stable at 0.00%. The bank's capital ratio exceeded regulatory requirements at 11.63%, reflecting strong financial health.
Metro Phoenix Bank (MPHX) has appointed Nick Gonzales as the lead officer for its national outdoor media lending program. Gonzales brings a decade of experience in commercial banking, specializing in outdoor media loans since 2009. His hands-on approach and financial analysis skills are credited with the program's success, which now operates in 20 states. The bank offers various services, including SBA financing and treasury management. This strategic move aims to enhance its presence and cater to the growing needs of the outdoor media community.