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Midas Edge

Metropolitan Bank Holding Corp

For the period ended Dec 31, 2023. Filed Feb 28, 2024.

View on SEC.gov

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 28, 2024

MCB$96.43+1.0%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

​​​​​​​​​​
​ · ​ · Year ended December 31,
​202320222021
Interest and dividend income​​​​​​​​​
Loans, including fees​$345,039​$231,851​$164,528
Securities​​18,525​​15,635​​5,838
Overnight deposits​​9,319​​12,314​​2,310
Other interest and dividends​​2,522​​939​​608
Total interest income​​375,405​​260,739​​173,284
Interest expense​​​​​​​​​
Deposits​​128,677​​29,284​​14,241
Borrowed funds​​22,424​​893​​—
Trust preferred securities​​1,468​​799​​424
Subordinated debt​​—​​605​​1,618
Total interest expense​​152,569​​31,581​​16,283
​​​​​​​​​​
Net interest income​​222,836​​229,158​​157,001
Provision for credit losses​​12,283​​10,116​​3,816
Net interest income after provision for credit losses​​210,553​​219,042​​153,185
​​​​​​​​​​
Non-interest income​​​​​​​​​
Service charges on deposit accounts​​6,071​​5,747​​4,755
Global Payments Group revenue​​19,005​​19,341​​16,445
Other income​​2,827​​1,505​​2,497
Total non-interest income​​27,903​​26,593​​23,697
​​​​​​​​​​
Non-interest expense​​​​​​​​​
Compensation and benefits​​66,961​​57,290​​45,908
Bank premises and equipment​​9,344​​8,855​​8,055
Professional fees​​18,064​​14,423​​6,750
Technology costs​​4,940​​4,713​​5,201
Licensing fees​​12,818​​10,477​​8,606
FDIC assessments​​9,077​​4,625​​3,852
Regulatory settlement reserve​​(5,521)​​35,000​​—
Other expenses​​15,855​​13,354​​8,940
Total non-interest expense​​131,538​​148,737​​87,312
​​​​​​​​​​
Net income before income tax expense​​106,918​​96,898​​89,570
Income tax expense​​29,650​​37,473​​29,015
Net income​$77,268​$59,425​$60,555
​​​​​​​​​​
Earnings per common share​​​​​​​​​
Basic earnings​$6.95​$5.42​$6.64
Diluted earnings​$6.91​$5.29​$6.45
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.