- Metropolitan Bank Holding Corp. (MCB, Financial) reports net income of $16.4 million for Q1 2025, marking a decline from $21.4 million in Q4 2024.
- Total loans reached $6.3 billion, up 5.1% from Q4 2024, with deposits increasing 7.8% to $6.4 billion.
- Net interest margin improved to 3.68%, while non-performing loans ratio stabilized at 0.54%.
Metropolitan Bank Holding Corp. (MCB) reported its financial results for the first quarter of 2025, showing a net income of $16.4 million, or $1.45 per diluted share. This reflects a decline from the $21.4 million, or $1.88 per diluted share, reported in the fourth quarter of 2024. The decrease in earnings was primarily due to increased non-interest expenses, which rose by $4.6 million quarter-over-quarter.
Total loans expanded by 5.1% from the previous quarter, reaching $6.3 billion, and demonstrated a year-over-year growth of 10.9%. The increase was largely driven by the expansion in commercial real estate lending. Meanwhile, deposits rose by 7.8% quarter-over-quarter, amounting to $6.4 billion, facilitating loan growth while reducing wholesale funding by $165 million.
The bank's net interest margin improved to 3.68%, marking its sixth consecutive quarter of growth, supported by effective loan and deposit pricing strategies. Asset quality remained stable, with a non-performing loans ratio of 0.54%, an improvement from 0.91% a year ago.
MCB's liquidity position remains robust, with $2.9 billion in cash and available funding capacity, covering 179% of uninsured deposits. Additionally, the company repurchased $12.9 million in common stock, representing roughly 2% of outstanding shares, as part of its stock repurchase program.
Both the Company and the Bank maintain their 'well capitalized' status, with total risk-based capital ratios standing at 12.8% and 12.1%, respectively, highlighting a strong capital position above regulatory requirements.
