Welcome to our dedicated page for Metropolitan Bank Holding news (Ticker: MCB), a resource for investors and traders seeking the latest updates and insights on Metropolitan Bank Holding stock.
Metropolitan Bank Holding Corp. (Symbol: MCB) is a prominent bank holding company based in New York City. Operating under its subsidiary, Metropolitan Commercial Bank, it provides a wide range of business, commercial, and personal banking services. The bank's footprint includes full-service banking centers located in Manhattan, Brooklyn, and Long Island, emphasizing a community-focused approach.
The bank caters to small businesses, middle-market enterprises, public entities, and affluent individuals. It offers a comprehensive suite of banking products, including deposits, trade finance, cash management solutions, savings accounts, and electronic banking. Additionally, Metropolitan Commercial Bank provides various lending products such as acquisition loans, construction loans, and lines of credit. These services support a diverse array of property types, including retail, office, hospitality, multifamily, mixed-use, warehouse, distribution, and specialty-use properties.
Metropolitan Commercial Bank distinguishes itself with relationship-driven, personalized service and multiple convenient delivery channels, including online banking and flexible mobile banking apps. Clients also enjoy no-fee access to over 1 million ATMs worldwide. The bank is an active issuer of prepaid debit cards, supporting numerous third-party programs, demonstrating its innovative approach to banking solutions.
Recently, Metropolitan Commercial Bank partnered with Automated Financial Systems, Inc. (AFS) to implement AFSVision, a leading commercial lending platform. This partnership aims to modernize the bank's core banking systems, enhancing client experience, profitability, and risk management. This initiative aligns with the bank's strategic goals and commitment to digital transformation.
Metropolitan Commercial Bank has received notable accolades, including being named one of Newsweek's Best Regional Banks and Credit Unions for 2024. It was also recognized by the Independent Community Bankers of America as one of the top ten successful loan producers for 2023. In S&P Global Market Intelligence's annual ranking, the bank was listed among the best-performing community banks in the $3 billion to $10 billion asset range.
As a New York State chartered bank, a member of the Federal Reserve System, and the Federal Deposit Insurance Corporation (FDIC), Metropolitan Commercial Bank maintains a solid commitment to regulatory compliance and equal opportunity lending. For more information, please visit their official website at MCBankNY.com.
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%.
Metropolitan Bank Holding Corp. (NYSE: MCB) will release its first quarter financial results on April 18, 2023, after market close. A conference call to discuss these results is scheduled for 8:30 a.m. ET on April 19, 2023. Interested parties can participate by dialing 800-245-3047 (US) or 203-518-9843 (International), using conference ID MCBQ123. The event will also be available via live webcast on the company’s website, with a replay accessible later in the day. Metropolitan Bank Holding Corp. operates as a commercial bank in New York City, providing a variety of financial services to businesses and individuals. It has gained recognition for its performance, ranking among the top ten community banks by S&P Global Market Intelligence.
FAQ
What is the current stock price of Metropolitan Bank Holding (MCB)?
What is the market cap of Metropolitan Bank Holding (MCB)?
What services does Metropolitan Commercial Bank provide?
Where are Metropolitan Commercial Bank's branches located?
What recent achievements has Metropolitan Commercial Bank received?
What does the bank's partnership with AFS entail?
What types of loans does Metropolitan Commercial Bank offer?
Is Metropolitan Commercial Bank a member of the FDIC?
Does Metropolitan Commercial Bank offer online banking?
What makes Metropolitan Commercial Bank unique?
How is Metropolitan Commercial Bank involved in the community?
Where can more information about Metropolitan Commercial Bank be found?
