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 strong financial standing as of March 29, 2023. The Company maintains regulatory capital ratios of 13.4% and 13.1%, significantly above minimum requirements. Total core deposits reached $5.04 billion, marking a 5.4% increase since December 31, 2022. Insured deposits rose to 66% of total deposits. Liquidity is robust, with $3.1 billion in cash and secured funding, representing 170% of uninsured deposits. The exit from the crypto vertical is nearing completion, with crypto deposits expected to decline to near zero by mid-2023. Commercial real estate asset quality remains strong, mitigating credit risk.
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
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.
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