Metropolitan Bank Holding Corp.
For the period ended Jun 30, 2026. Filed Jul 31, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Jul 31, 2026
MCB$95.47+0.4%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-05-08.
0001104659-26-057925
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-06-30; filed 2026-07-31.
0001104659-26-089011
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 72 previous paragraphs and 82 current paragraphs.
41 unchanged; 26 reworded; 14 added; 5 removed; 0 previous and 1 current paragraphs rearranged.
Tables are not compared: 13 previous and 21 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (14)
Current report
On June 6, 2026, William Reinhardt retired from the Board of Directors and the board of directors of the Bank.
Current report
On June 19, 2026, the Board of Directors of the Company approved a new share repurchase program pursuant to which the Company is authorized to repurchase up to $50.0 million of its outstanding common stock, par value $0.01 per share (the “Share Repurchase Program”). Repurchases under the Share Repurchase Program may be conducted from time to time on the open market or by other means in accordance with applicable securities laws and other restrictions, including, in part, under a Rule 10b5-1 plan, which allows stock repurchases when the Company might otherwise be precluded from doing so. The number of shares to be repurchased and the timing of repurchases, if any, will depend on several factors, including market conditions, prevailing share price, corporate and regulatory requirements, and other considerations.
Current report
The Share Repurchase Program represents a newly authorized program that replaces and supersedes the previously disclosed program that was authorized by the Company’s Board of Directors on July 17, 2025.
Current report
The Company intends to fund the Share Repurchase Program with available cash. The Share Repurchase Program has no expiration date, may be discontinued or suspended at any time and does not obligate the Company to acquire any amount of its common stock. The Company records the purchase of treasury stock at cost.
Current report
The Company had total assets of $8.9 billion at June 30, 2026, an increase of $603.0 million, or 7.3%, from December 31, 2025. Total cash and cash equivalents were $239.3 million at June 30, 2026, as compared to $393.6 million at December 31, 2025.
Current report
Net income was $19.2 million for the second quarter of 2026, an increase of $456,000 as compared to $18.8 million for the second quarter of 2025. This increase was due primarily to a $16.8 million increase in net interest income, and a $1.7 million decrease in FDIC assessments, partially offset by a $6.9 million increase in the provision for credit losses, $5.1 million increase in compensation and benefits, and a $1.8 million one-time accrual for an adverse judgment in a legal matter.
Current report
Interest income increased $13.9 million to $140.9 million for the second quarter of 2026 compared to $127.0 million for the second quarter of 2025, primarily due to the $536.6 million increase in the average balance of loans, the $566.2 million increase in the average balance of overnight deposits, and the $89.5 million increase in the average balance of securities.
Current report
Interest expense decreased $5.7 million to $99.5 million for the six months ended June 30, 2026 as compared to $105.2 million for the six months ended June 30, 2025, due primarily to a 55 basis point decrease in the total cost of funds reflecting the reduction in short-term interest rates and the $324.4 million decrease in the average balance of borrowed funds.
Current report
The provision for credit losses for the three months ended June 30, 2026 was $13.3 million, as compared to $6.4 million for the three months ended June 30, 2025. The increase in the provision for credit losses was driven primarily by a single C&I loan in a non-core portfolio segment.
Current report
Non-interest income decreased $61,000 to $2.6 million for the second quarter of 2026, as compared to $2.6 million for the second quarter of 2025, driven primarily by a decrease in loan production fees, partially offset by an increase in service charges on deposit accounts.
Current report
Non-interest income decreased $1.1 million to $5.1 million for the six months ended June 30, 2026, as compared to $6.2 million for the six months ended June 30, 2025 driven primarily by a $1.2 million decrease in loan production fees.
Current report
Non-interest expense increased $12.4 million to $98.2 million for the six months ended June 30, 2026, as compared to the six months ended June 30, 2025, due primarily to an increase of $7.5 million in compensation and benefits due to the increase in the number of employees, a $3.5 million increase in deposit program related fees, a $3.0 million increase in technology costs, and a $1.8 million one-time legal accrual for an adverse judgment in legal matter, partially offset by a decrease of $2.8 million in FDIC assessment.
Current report
During the three and six months ended June 30, 2026, the Company purchased $44.5 million and $153.5 million of AFS securities. During the three and six months ended June 30, 2025, the Company purchased $20.9 million and $85.1 million of AFS securities.
Current report
(1) As of June 30, 2026, the capital conservation buffer for the Company and the Bank was 6.01% and 5.73%, respectively, which exceeded the minimum requirement of 2.5% required to be held by banking institutions.
Removed paragraphs (5)
Previous report
During the first quarter of 2026, the Company completed a public equity offering of approximately 2.3 million shares of the Company’s common stock (including the exercise of the underwriters’ allotment option) at a public offering price of $85.00 per share, resulting in proceeds, net of underwriting discounts and commissions of approximately $186.5 million.
Previous report
On April 29, 2026, the Company’s stockholders approved the company’s 2026 Employee Stock Purchase Plan (the “ESPP”). The ESPP, which was approved by the Board of Directors on March 18, 2026, is designed to qualify as an employee stock purchase plan under Section 423 of the Internal Revenue Code, as amended. 250,000 shares of common stock of the company will be made available for sale under the ESPP.
Previous report
The Company had total assets of $8.8 billion at March 31, 2026, an increase of $588.4 million, or 7.1%, from December 31, 2025.
Previous report
Total cash and cash equivalents were $672.4 million at March 31, 2026, an increase of $278.8 million, or 70.8% from December 31, 2025. The increase was primarily due to the common stock public equity offering during the first quarter of 2026, which resulted in proceeds, net of underwriting discounts and commissions of approximately $186.5 million.
Previous report
Non-interest income decreased $1.1 million to $2.6 million for the first quarter of 2026, as compared to $3.6 million for the first quarter of 2025, driven primarily by the absence of one-time non-refundable program fees of $822,000 reflected in the first quarter of 2025.
Reworded paragraphs (26)
Previous wording
The ACL has been determined in accordance with GAAP. The Company is responsible for the timely and periodic determination of the amount of the ACL. Management believes that the ACL for loans and loan commitments is adequate to cover expected credit losses over the life of the loan portfolio. Although management evaluates available information to determine the adequacy of the ACL, the level of allowance is an estimate which is subject to significant judgment and short-term change. Because of uncertainties associated with local and national economic forecasts, the operating and regulatory environment, collateral values and future cash flows from the loan portfolio, it is possible that a material change could occur in the ACL. The evaluation of the adequacy of loan collateral is often based upon estimates and appraisals. Because of uncertain economic conditions, the valuations determined from such estimates and appraisals may change. Accordingly, the Company may ultimately incur losses that vary from management’s current estimates. Adjustments to the ACL will be reported in the period in which such adjustments become apparent and can be reasonably estimated. All loan losses are charged to the ACL when the loss actually occurs or when the collectability of principal is deemed to be unlikely. Recoveries are credited to the allowance at the time of recovery. Various regulatory agencies, as an integral part of their examination process, periodically review the Company’s ACL. As a result of such examinations, the Company may need to recognize additions to the ACL based on the regulators’ observations.
Current wording
The ACL has been determined in accordance with GAAP. The Company is responsible for the timely and periodic determination of the amount of the ACL. Management believes that the ACL for loans and loan commitments is adequate to cover expected credit losses over the life of the loan portfolio. Although management evaluates available information to determine the adequacy of the ACL, the level of allowance is an estimate which is subject to significant judgment and short-term change. Because of uncertainties associated with local and national economic forecasts, the operating and regulatory environment, collateral values and future cash flows from the loan portfolio, it is possible that a material change could occur in the ACL. The evaluation of the adequacy of loan collateral is often based upon estimates and appraisals. Because of uncertain economic conditions, the valuations determined from such estimates and appraisals may change. Accordingly, the Company may ultimately incur losses that vary from management’s current estimates. Adjustments to the ACL will be reported in the period in which such adjustments become apparent and can be reasonably estimated. All loan losses are charged-off to the ACL when the loss actually occurs or when the collectability of principal is deemed to be unlikely. Recoveries are credited to the allowance at the time of recovery. Various regulatory agencies, as an integral part of their examination process, periodically review the Company’s ACL. As a result of such examinations, the Company may need to recognize additions to the ACL based on the regulators’ observations.
Previous wording
One of the more significant judgments involved in estimating the Company’s ACL relates to the macroeconomic forecasts used to estimate credit losses and the relative weightings applied to them. To illustrate the impact of changes in these forecasts to the Company’s ACL, the Company performed a hypothetical sensitivity analysis that decreased the weight on the baseline scenario by 33% and equally allocated the difference to increase the weighting on the more optimistic and adverse scenarios. All else equal, the impact of this hypothetical forecast would result in a net increase of approximately $4.3 million, or 5.3%, in the Company’s total ACL for loans and loan commitments as of March 31, 2026. This hypothetical analysis is intended to illustrate the impact of adverse changes in the macroeconomic forecasts at a point in time and is not intended to reflect the full nature and extent of potential future change in the ACL. It is difficult to estimate how potential changes in any one of the quantitative inputs or qualitative factors might affect the overall ACL and the Company’s current assessments may not reflect the potential future impact of changes to those inputs or factors.
Current wording
One of the more significant judgments involved in estimating the Company’s ACL relates to the macroeconomic forecasts used to estimate credit losses and the relative weightings applied to them. To illustrate the impact of changes in these forecasts to the Company’s ACL, the Company performed a hypothetical sensitivity analysis that decreased the weight on the baseline scenario by 33% and equally allocated the difference to increase the weighting on the more optimistic and adverse scenarios. All else equal, the impact of this hypothetical forecast would result in a net increase of approximately $2.5 million, or 4.0%, in the Company’s total ACL for loans and loan commitments as of June 30, 2026. This hypothetical analysis is intended to illustrate the impact of adverse changes in the macroeconomic forecasts at a point in time and is not intended to reflect the full nature and extent of potential future change in the ACL. It is difficult to estimate how potential
Previous wording
Total securities were $1.0 billion at March 31, 2026, an increase of $62.0 million or 6.6%, from December 31, 2025. The increase was primarily due to the purchase of $109.0 million of AFS securities, partially offset by the $42.9 million paydown and maturities of AFS and HTM securities.
Current wording
Total securities were $1.1 billion at June 30, 2026, an increase of $147.3 million or 15.7%, from December 31, 2025. The increase was primarily due to the purchase of $230.7 million of AFS and HTM securities, partially offset by the $76.7 million paydown and maturities of AFS and HTM securities.
Previous wording
Total loans, net of deferred fees and unamortized costs, were $7.0 billion at March 31, 2026, an increase of $236.3 million, or 3.5%, from December 31, 2025. The increase in total loans from December 31, 2025 was due primarily to an increase of $233.1 million in CRE loans (including owner-occupied). At March 31, 2026, 75.1% of the CRE and C&I loan portfolio was concentrated in the New York metropolitan area, mainly New York City, and Florida.
Current wording
Total loans, net of deferred fees and unamortized costs, were $7.3 billion at June 30, 2026, an increase of $518.7 million, or 7.6%, from December 31, 2025. The increase in total loans from December 31, 2025 was due primarily to an increase of $563.4 million in CRE loans (including owner-occupied). At June 30, 2026, 73.2% of the CRE and C&I loan portfolio was concentrated in the New York metropolitan area, mainly New York City, and Florida.
Previous wording
The largest concentration in the loan portfolio is to the healthcare industry, which amounted to $3.1 billion, or 43.7% of total loans, at March 31, 2026, including $3.0 billion in loans to skilled nursing facilities.
Current wording
The largest concentration in the loan portfolio is to the healthcare industry, which amounted to $3.4 billion, or 45.9% of total loans, at June 30, 2026, including $3.3 billion in loans to skilled nursing facilities.
Previous wording
Non-performing loans decreased to $71.1 million at March 31, 2026 compared to $86.9 million at December 31, 2025. The decrease primarily reflects the $12.3 million of charge-offs for one out-of-market CRE loan and two C&I loans, as the Company continues to work diligently toward the resolution of the credits that make up our nonperforming loan portfolio. The table below sets forth key asset quality ratios (dollars in thousands):
Current wording
As the Company continues to work diligently toward the resolution of the credits that make up its nonperforming loan portfolio, non-performing loans decreased to $67.0 million at June 30, 2026 compared to $86.9 million at December 31, 2025. The decrease primarily reflects the charge-offs for two out-of-market CRE loan relationships, and two C&I loans, partially offset by the addition of one C&I loan in a non-core private equity portfolio segment that only contains one other loan. The loan portfolio remains fundamentally sound, with pass-rated loans representing approximately 97% of total loans. The table below sets forth key asset quality ratios (dollars in thousands):
Previous wording
The ACL for loans was $82.1 million at March 31, 2026, as compared to $97.1 million at December 31, 2025. The $15.0 million decrease in the ACL primarily reflects a decrease of $11.8 million due to the adjustments made to the Bank’s ACL estimation process and changes in the outlook for certain macroeconomic variables, partially offset by loan growth. See “—Critical Accounting Policies” above for more information on the adjustments made to the Bank’s allowance for credit losses. In addition, the $15.0 million decrease in the ACL also reflects a net $3.0 million decrease related to a $9.3 million provision for credit losses and subsequent $12.3 million charge-off of one out-of-market CRE loan and two C&I loans.
Current wording
The ACL for loans was $62.0 million at June 30, 2026, as compared to $97.1 million at December 31, 2025. The $35.1 million decrease in the ACL primarily reflects the charge-offs related to the two aforementioned out-of-market CRE loan relationships that were previously provisioned for, and adjustments made to the Bank’s allowance for credit loss estimation process in the first quarter of 2026, partially offset by loan growth. The measurement of the ACL is based on historical experience, current conditions, and reasonable and supportable forecasts. Management believes that the ACL for loans and loan commitments is adequate to cover expected credit losses over the life of the loan portfolio. See “— Critical Accounting Policies” above for more information on the Bank’s allowance for credit losses.
Previous wording
Total deposits were $7.7 billion at March 31, 2026, an increase of $362.5 million, or 4.9%, from December 31, 2025. The increase from December 31, 2025 was due primarily to increases across most of the Company’s various deposit verticals. Non-interest-bearing demand deposits were 19.9% of total deposits at March 31, 2026, compared to 20.1% at December 31, 2025.
Current wording
Total deposits were $7.7 billion at June 30, 2026, an increase of $354.3 million, or 4.8%, from December 31, 2025. The increase in total deposits from December 31, 2025 was broadly distributed across the Bank’s various deposit verticals. Non-interest-bearing demand deposits were 20.6% of total deposits at June 30, 2026, compared to 20.1% at December 31, 2025.
Previous wording
At March 31, 2026, the aggregate estimated amount of FDIC uninsured deposits was $2.0 billion, and the aggregate estimated amount of uninsured time deposits was $46.7 million. The following table presents the scheduled maturities of time deposits greater than $250,000 (in thousands):
Current wording
At June 30, 2026, the aggregate estimated amount of FDIC uninsured deposits was $2.1 billion, and the aggregate estimated amount of uninsured time deposits was $44.5 million. The following table presents the scheduled maturities of time deposits greater than $250,000 (in thousands):
Previous wording
Accumulated other comprehensive loss, net of tax, was $39.2 million at March 31, 2026, a decrease of $0.5 million from December 31, 2025. The decrease from December 31, 2025 was primarily due to unrealized gains on cash flow hedges, as a result of changes in prevailing market interest rates, partially offset by unrealized losses on AFS securities.
Current wording
Accumulated other comprehensive loss, net of tax, was $39.0 million at June 30, 2026, a decrease of $0.7 million from December 31, 2025. The decrease from December 31, 2025 was primarily due to unrealized gains on cash flow hedges, as a result of changes in prevailing market interest rates, partially offset by unrealized losses on AFS securities.
Previous wording
Net income was $31.4 million for the first quarter of 2026, an increase of $15.1 million as compared to $16.4 million for the first quarter of 2025. This increase was due primarily to a $19.0 million increase in net interest income, a $6.8 million decrease in the provision for credit losses, a $1.8 million decrease in professional fees and a $1.1 million decrease in FDIC assessments, partially offset by a $2.6 million increase in deposit related program fees, a $2.4 million increase in compensation and benefits and a $2.0 million increase in technology costs.
Current wording
Net income was $50.6 million for the six months ended June 30, 2026, an increase of $15.5 million as compared to $35.1 million for the six months ended June 30, 2025. This increase was due primarily to a $35.8 million increase in net interest income and a $2.8 million decrease in FDIC assessments, partially offset by a $7.5 million increase in compensation and benefits related to the increase in the number of employees, a $3.5 million increase in deposit related program fees, a $3.0 million increase in technology costs, and a $1.8 million one-time accrual for an adverse judgment in a legal matter.
Previous wording
Net interest margin for the first quarter of 2026 was 4.08% compared to 3.68% for the first quarter of 2025. The 40 basis point increase reflects the decline in short-term interest rates.
Current wording
Net interest margin for the second quarter of 2026 was 4.08% compared to 3.83% for the second quarter of 2025. The 25 basis point increase reflects the decline in short-term interest rates.
Previous wording
Interest income increased $16.2 million to $134.9 million for the first quarter of 2026 compared to $118.8 million for the first quarter of 2025, primarily due to a $724.7 million increase in the average balance of loans and a $424.0 million increase in overnight deposits.
Current wording
Interest income increased $30.1 million to $275.9 million for the six months ended June 30, 2026 as compared to $245.8 million for the six months ended June 30, 2025, primarily due to the $630.1 million increase in the average balance of loans and the $495.5 million increase in the average balance of overnight deposits.
Previous wording
Interest expense decreased $2.8 million to $49.0 million for the first quarter of 2026 as compared to $51.8 million for the first quarter of 2025 due primarily to the 58 basis point decrease in the total cost of funds that reflects the reduction in short- term interest rates.
Current wording
Interest expense decreased $2.9 million to $50.5 million for the second quarter of 2026 as compared to $53.4 million for the second quarter of 2025 due primarily to the 53 basis point decrease in the total cost of funds that reflects the reduction in short-term interest rates.
Previous wording
The provision for credit losses for the three months ended March 31, 2026 was ($2.3) million, as compared to $4.5 million for the three months ended March 31, 2025. The release in the provision for credit losses primarily reflects a decrease of $11.8 million due to the adjustments made to the Bank’s allowance for credit loss estimation process and changes in the outlook for certain macroeconomic variables, partially offset by loan growth. See “—Critical Accounting Policies” above for more information on the adjustments made to the Bank’s allowance for credit loss estimation process. The provision for credit losses also reflects an increase of $9.3 million related to one C&I and two CRE loans that were subsequently charged-off.
Current wording
The provision for credit losses for the six months ended June 30, 2026 was $11.0 million, as compared to $10.9 million for the six months ended June 30, 2025. The provision reflects $19.3 million of credit losses related to the aforementioned single C&I loan in a non-core portfolio segment as well as one C&I and two CRE loans that were provisioned and subsequently charged-off in the first quarter of 2026. The provision for the six months ended June 30, 2026 also reflects a decrease of $6.4 million due to the adjustments made to the Bank’s allowance for credit loss estimation process. See “—Critical Accounting Policies” above for more information on the adjustments made to the Bank’s allowance for credit loss estimation process.
Previous wording
Non-interest expense increased $3.7 million to $46.4 million for the first quarter of 2026, compared to the first quarter of 2025 due primarily to a $2.6 million increase in deposit related program fees, $2.4 million increase in compensation and benefits and $2.0 million increase in technology costs, partially offset by a $1.8 million decrease in professional fees and a $1.1 million decrease in the FDIC assessment.
Current wording
Non-interest expense increased $8.7 million to $51.8 million for the second quarter of 2026, compared to the second quarter of 2025 due primarily to a $5.1 million increase in compensation and benefits, a $1.8 million one-time accrual for an adverse judgment in a legal matter, and $1.1 million increase in technology costs, partially offset by a $1.7 million decrease in the FDIC assessment.
Previous wording
The estimated effective tax rate for the first quarter of 2026 was 29.2% as compared to 30.0% for the first quarter of 2025.
Current wording
The estimated effective tax rate for the second quarter of 2026 was 31.1% as compared to 29.9% for the second quarter of 2025. The effective tax rate for the six months ended June 30, 2026 was 29.9% compared to 30.0% for the six months ended June 30, 2025.
Previous wording
At March 31, 2026, the Company had $676.6 million in unused loan commitments and $32.8 million in standby and commercial letters of credit. At December 31, 2025, the Company had $600.0 million in unused commitments and $26.4 million in standby and commercial letters of credit.
Current wording
At June 30, 2026, the Company had $586.3 million in unused loan commitments and $34.6 million in standby and commercial letters of credit. At December 31, 2025, the Company had $600.0 million in unused commitments and $26.4 million in standby and commercial letters of credit.
Previous wording
The Company’s most liquid assets are cash and cash equivalents. The levels of these assets are dependent on the Company’s operating, financing, lending and investing activities during any given period. At March 31, 2026 and December 31, 2025, cash and cash equivalents totaled $672.4 million and $393.6 million, respectively. Securities, which provide an additional source of liquidity, totaled $1.0 billion at March 31, 2026 and $941.2 million at December 31, 2025. At March 31, 2026, there were $882.1 million of securities pledged to support wholesale funding, and to a lesser extent certain other types of deposits, of which $125.1 million were encumbered. At December 31, 2025, there were $807.5 million of securities pledged to support wholesale funding, and to a lesser extent certain other types of deposits, of which $118.2 million were encumbered.
Current wording
The Company’s most liquid assets are cash and cash equivalents. The levels of these assets are dependent on the Company’s operating, financing, lending and investing activities during any given period. At June 30, 2026 and December 31, 2025, cash and cash equivalents totaled $239.3 million and $393.6 million, respectively. Securities, which provide an additional source of liquidity, totaled $1.1 billion at June 30, 2026 and $941.2 million at December 31, 2025. At June 30, 2026, there were $960.4 million of securities pledged to support wholesale funding, and to a lesser extent certain other types of deposits, of which $127.0 million were encumbered. At December 31, 2025, there were $807.5 million of securities pledged to support wholesale funding, and to a lesser extent certain other types of deposits, of which $118.2 million were encumbered.
Previous wording
The Company’s primary investing activities are the origination and, to a lesser extent, purchase of loans and securities. The Company’s loan production was $428.3 million and $409.8 million during the three months ended March 31, 2026 and 2025, respectively. During the three months ended March 31, 2026, the Company purchased $109.0 million of AFS securities. During the three months ended March 31, 2025, the Company purchased $44.3 million of AFS securities.
Current wording
The Company’s primary investing activities are the origination and, to a lesser extent, purchase of loans and securities. For the three and six months ended June 30, 2026, the Company’s loan production was $718.9 million and $1.1 billion as compared to $492.0 million and $901.8 million, respectively, for the three and six months ended June 30, 2025.
Previous wording
Financing activities consisted primarily of activity in deposit accounts and borrowings. The Company gathers deposits from businesses and individuals through client referrals and other relationships and through its retail presence. The
Current wording
Financing activities consisted primarily of activity in deposit accounts and borrowings. The Company gathers deposits from businesses and individuals through client referrals and other relationships and through its retail presence. The Company has established deposit concentration thresholds to avoid the possibility of dependence on any single depositor
Previous wording
Company has established deposit concentration thresholds to avoid the possibility of dependence on any single depositor base for funds. Total deposits were $7.7 billion at March 31, 2026, an increase of $362.5 million, or 4.9%, from December 31, 2025.
Current wording
base for funds. Total deposits were $7.7 billion at June 30, 2026, an increase of $354.3 million, or 4.8%, from December 31, 2025.
Previous wording
At March 31, 2026, interest-bearing deposits were comprised of $6.0 billion of money market accounts and $153.8 million of time deposits. Time deposits due within one year of March 31, 2026 totaled $149.8 million, or 1.9%, of total deposits. At March 31, 2026, the aggregate estimated amount of FDIC uninsured deposits was $2.0 billion. At December 31, 2025, interest-bearing deposits were comprised of $5.7 billion of money market accounts and $190.1 million of time deposits. Time deposits due within one year of December 31, 2025 totaled $186.3 million or 2.5% of total deposits. Non-interest-bearing deposits were 19.9% of total deposits at March 31, 2026, as compared to 20.1% at December 31, 2025. At December 31, 2025, the aggregate estimated amount of FDIC uninsured deposits was $2.0 billion.
Current wording
At June 30, 2026, interest-bearing deposits were comprised of $6.0 billion of money market accounts and $153.3 million of time deposits. Time deposits due within one year of June 30, 2026 totaled $150.0 million, or 1.9%, of total deposits. At June 30, 2026, the aggregate estimated amount of FDIC uninsured deposits was $2.1 billion. At December 31, 2025, interest-bearing deposits were comprised of $5.7 billion of money market accounts and $190.1 million of time deposits. Time deposits due within one year of December 31, 2025 totaled $186.3 million or 2.5% of total deposits. Non-interest-bearing deposits were 20.6% of total deposits at June 30, 2026, as compared to 20.1% at December 31, 2025. At December 31, 2025, the aggregate estimated amount of FDIC uninsured deposits was $2.0 billion.
Previous wording
The Company has no material commitments or demands that are likely to affect its liquidity other than as set forth below. In the event loan demand were to increase faster than expected, or any other unforeseen demand or commitment were to occur, the Company could access its borrowing capacity with the FHLB or obtain additional funds through alternative funding sources, including the brokered deposit market. At March 31, 2026 and December 31, 2025, the Company had cash on deposit with the FRBNY and available secured wholesale funding borrowing capacity of $3.7 billion and $3.3 billion, respectively.
Current wording
The Company has no material commitments or demands that are likely to affect its liquidity other than as set forth below. In the event loan demand were to increase faster than expected, or any other unforeseen demand or commitment were to occur, the Company could access its borrowing capacity with the FHLB or obtain additional funds through alternative funding sources, including the brokered deposit market. At June 30, 2026 and December 31, 2025, the Company had cash on deposit with the FRBNY and available secured wholesale funding borrowing capacity of $3.1 billion and $3.3 billion, respectively.
Previous wording
The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. At March 31, 2026 and December 31, 2025, the Company and the Bank met all applicable regulatory capital requirements to be considered “well capitalized” under regulatory guidelines. The Company and the Bank manage their capital to comply with their internal planning targets and regulatory capital standards administered by federal banking agencies. The Company and the Bank review capital levels on a monthly basis. Below is a table of the Company’s and Bank’s capital ratios for the periods indicated:
Current wording
The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. At June 30, 2026 and December 31, 2025, the Bank met all applicable regulatory capital requirements to be considered “well capitalized” under regulatory guidelines. The Company and the Bank manage their capital to comply with their internal planning targets and regulatory capital standards administered by federal banking agencies. The Company and the Bank review capital levels on a monthly basis. Below is a table of the Company’s and Bank’s capital ratios for the periods indicated:
Previous wording
At March 31, 2026 and December 31, 2025, total non-owner-occupied CRE loans were 299.5% and 376.5% of risk-based capital, respectively. The decrease in the CRE concentration ratio is primarily due to the completion of the Company’s public equity offering of common stock in the first quarter of 2026. See “—Recent Events” above for more information on the Company’s quarterly dividend and share repurchase program.
Current wording
At June 30, 2026 and December 31, 2025, total non-owner-occupied CRE loans were 304.1% and 376.5% of risk-based capital, respectively. The decrease in the CRE loan concentration ratio is primarily due to the increase in the Bank’s total capital as a result of the completion of the Company’s follow-on public equity offering of common stock in the first quarter of 2026.
Rearranged current paragraphs (1)
Current report — wording carried from elsewhere
changes in any one of the quantitative inputs or qualitative factors might affect the overall ACL and the Company’s current assessments may not reflect the potential future impact of changes to those inputs or factors.