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Metropolitan Bank Holding Corp. - MCB STOCK NEWS

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.

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Metropolitan Bank Holding Corp. (NYSE: MCB) reported strong third-quarter results, with net income reaching $16.2 million, or $1.77 per diluted share, a 50.4% increase year-over-year. Total revenues hit $46.7 million, up 29.8% from last year. Loans increased to $3.6 billion and deposits rose to $5.5 billion, reflecting respective increases of 20.5% and 54.7% year-over-year. The efficiency ratio improved to 49.7%, and capital raised reached $172.5 million. The bank remains well-capitalized and is positioned for future growth in the Global Payments sector.

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Metropolitan Bank Holding Corp. (NYSE: MCB) has successfully completed its underwritten public offering of 2,300,000 shares at $75.00 per share, generating approximately $172.5 million in gross proceeds. The offering included 300,000 shares from an underwriter's option. The net proceeds will fund various corporate needs, including debt repayment, share repurchases, and investments in the Bank. J.P. Morgan and Keefe, Bruyette & Woods acted as joint book-running managers for the offering.

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Metropolitan Bank Holding Corp. (NYSE: MCB) has announced a public offering of 2,000,000 shares at $75.00 each, potentially raising $150.0 million. If underwriters exercise their option for 300,000 additional shares, total proceeds could reach $172.5 million. The funds are intended for general corporate purposes, including debt repayment, share repurchases, and investments in the Bank. The offering is set to close on September 20, 2021.

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Metropolitan Bank Holding Corp. (NYSE: MCB) announced an underwritten public offering of $150 million in common stock, with an option for underwriters to purchase up to an additional $22.5 million. The proceeds will be used for general corporate purposes, including debt repayment, share repurchases, and investments in the Bank. J.P. Morgan and Keefe, Bruyette & Woods are the joint book-running managers. A shelf registration statement has been filed with the SEC for this offering.

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Metropolitan Bank Holding Corp. (NYSE: MCB) reported a net income of $13.3 million or $1.55 per diluted share for Q2 2021, up from $10.8 million or $1.29 per share in Q2 2020. Total revenues increased by 20.4% to $43.1 million. Loans and deposits rose 19.3% and 55.8% year-over-year, respectively. The company’s efficiency ratio improved to 50.3%. However, net interest margin decreased to 2.68%, down from 3.19% a year prior, attributed to lower-yielding deposits. Overall, MCB maintains a strong financial position with a solid asset base and credit quality.

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Metropolitan Bank Holding Corp. (NYSE:MCB) reported a net income of $12.1 million, or $1.43 per diluted share for Q1 2021, a 98.7% increase from Q1 2020. Total revenues rose 17.1% to $39.0 million. Assets increased 13.7% to $4.92 billion, driven by 15.6% growth in deposits. The bank reported a 3.00% net interest margin, down 21 basis points. Non-performing loans decreased to 0.17% of total loans. The bank remains well-capitalized and is optimistic about business recovery in New York City.

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Metropolitan Bank Holding Corp. (NYSE: MCB) reported a net income of $11.8 million for Q4 2020, reflecting a 49% increase from $7.9 million in Q4 2019. For the year, net income reached $39.5 million, up 31% year-over-year. Total assets rose 29% to $4.33 billion, driven by a 36.8% increase in deposits. Notably, non-interest-bearing deposits surged 57.3% year-over-year. The bank's net interest margin improved to 3.21%. However, loan deferrals related to COVID-19 decreased by 29.8% to $220.3 million, comprising 7% of total loans.

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Metropolitan Commercial Bank has appointed Ram Puppala as Senior Vice President and Chief Digital Officer. Reporting to Dixiana Berrios, Puppala will enhance the Bank's digital platforms, pivotal for its status as a banking and payment solutions innovator. He brings over 20 years of experience, including roles at State Street Bank and Fiserv Inc. CEO Mark DeFazio expressed confidence that his expertise will contribute significantly to the bank's growth and shareholder value. Puppala is also passionate about empowering women in technology and entrepreneurship.

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Metropolitan Bank Holding Corp. (MCB) reported a net income of $10.8 million ($1.27/share) for Q3 2020, up from $7.7 million ($0.90/share) in Q3 2019. Year-to-date net income reached $27.7 million ($3.27/share), compared to $22.3 million ($2.63/share) in 2019. Total assets increased by 19.2% to $4.00 billion, with a net loan growth of 11.7%. The bank's annualized return on average assets was 1.07%, and return on average equity rose to 13.20%. MCB experienced strong deposit growth despite the pandemic, with total deposits up 26.4% since December 31, 2019.

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Metropolitan Commercial Bank has appointed Maryann Metlitz as Vice President, Commercial Lending Officer, bringing over 30 years of banking experience, including 15 in finance. Previously, she served as VP, Dealer Relationship Manager at BB&T Bank. Luke Kaufman, Head of Commercial Lending, praised her equipment leasing expertise as a valuable addition to their team. Metlitz expressed her enthusiasm for working with MCB's management team and aligning with the bank's values. Metropolitan Commercial Bank operates in New York, offering a range of banking services and is publicly traded under the ticker symbol MCB.

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FAQ

What is the current stock price of Metropolitan Bank Holding (MCB)?

The current stock price of Metropolitan Bank Holding (MCB) is $59.17 as of December 20, 2024.

What is the market cap of Metropolitan Bank Holding (MCB)?

The market cap of Metropolitan Bank Holding (MCB) is approximately 667.0M.

What services does Metropolitan Commercial Bank provide?

Metropolitan Commercial Bank offers business, commercial, and personal banking services, including loans, deposits, trade finance, and electronic banking.

Where are Metropolitan Commercial Bank's branches located?

The bank operates full-service banking centers in Manhattan, Boro Park (Brooklyn), and Great Neck (Long Island).

What recent achievements has Metropolitan Commercial Bank received?

The bank was named one of Newsweek's Best Regional Banks for 2024 and recognized among the top ten successful loan producers by the Independent Community Bankers of America for 2023.

What does the bank's partnership with AFS entail?

The bank has partnered with AFS to implement AFSVision, a modern commercial lending platform, to enhance client experience, profitability, and risk management.

What types of loans does Metropolitan Commercial Bank offer?

The bank offers acquisition loans, construction loans, and lines of credit for various property types including retail, office, hospitality, and multifamily properties.

Is Metropolitan Commercial Bank a member of the FDIC?

Yes, Metropolitan Commercial Bank is a member of the Federal Deposit Insurance Corporation (FDIC).

Does Metropolitan Commercial Bank offer online banking?

Yes, the bank provides online banking services and flexible mobile banking apps for convenient access.

What makes Metropolitan Commercial Bank unique?

The bank's unique features include personalized service, no-fee access to over 1 million ATMs worldwide, and active issuance of prepaid debit cards for various programs.

How is Metropolitan Commercial Bank involved in the community?

The bank focuses on serving small businesses, middle-market enterprises, public entities, and affluent individuals in the New York metropolitan area.

Where can more information about Metropolitan Commercial Bank be found?

More information is available on their official website at MCBankNY.com.

Metropolitan Bank Holding Corp.

NYSE:MCB

MCB Rankings

MCB Stock Data

666.99M
9.74M
5.77%
83.14%
4.29%
Banks - Regional
State Commercial Banks
Link
United States of America
NEW YORK