Metropolitan Bank Holding Corp

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

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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$96.44+0.0%Stored close · as of Nov 10, 2026

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Contents

Item 8. CONSOLIDATED STATEMENTS OF CASH FLOWS

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)



	2023		2022		2021
Cash flows from operating activities
Net income		$77,268		$59,425		$60,555
Adjustments to reconcile net income to net cash:
Net depreciation, amortization, and accretion		2,899		4,338		5,063
Provision for credit losses		12,283		10,116		3,816
Stock-based compensation		9,765		7,836		4,821
Net change in deferred loan fees and costs		4,243		5,374		2,332
Deferred income tax (benefit) expense		(2,800)		(4,000)		(120)
(Gain) loss on sale of securities		—		—		(609)
Dividends earned on CRA fund		(52)		(33)		(22)
Unrealized (gain) loss on equity securities		(23)		258		62
Net change in:
Receivable from global payments, net		(2,043)		(45,741)		(12,605)
Third-party debit cardholder balances		(401)		1,732		(6,983)
Other assets		(30,019)		3,407		6,167
Other liabilities		(28,694)		43,179		(25,200)
Net cash provided by (used in) operating activities		42,426		85,891		37,277

Cash flows from investing activities
Loan originations, purchases and payments, net		(789,736)		(1,113,963)		(618,323)
Proceeds from loans sold		—		—		16,622
Redemptions of FRB and FHLB Stock		152,400		20,030		7
Purchases of FRB and FHLB Stock		(169,256)		(30,142)		(407)
Purchase of securities available-for-sale		(46,809)		(33,776)		(484,793)
Purchase of securities held-for-investment		(24,595)		(173,625)		(383,619)
Proceeds from sales and calls of securities available-for-sale		—		—		43,241
Proceeds from paydowns and maturities of securities available-for-sale		42,342		76,728		124,118
Proceeds from paydowns and maturities of securities held-to-maturity		65,954		44,643		4,152
Purchase of premises and equipment, net		(5,749)		(19,245)		(3,995)
Net cash provided by (used in) investing activities		(775,449)		(1,229,350)		(1,302,997)

Cash flows from financing activities
Proceeds from issuance of common stock, net		—		—		162,687
Proceeds from (repayments of) federal funds purchased		(51,000)		150,000		—
Proceeds from (repayments of) FHLB advances, net		340,000		100,000		—
Proceeds from exercise of stock options		—		194		—
Redemption of common stock for tax withholdings for restricted stock vesting		(3,170)		(1,559)		(3,385)
Redemption of subordinated debt		—		(24,712)		—
Proceeds from (repayments of) secured borrowings, net		(140)		(24,736)		(4,503)
Net increase (decrease) in deposits		459,380		(1,157,660)		2,605,966
Net cash provided by (used in) financing activities		745,070		(958,473)		2,760,765

Increase (decrease) in cash and cash equivalents		12,047		(2,101,932)		1,495,045
Cash and cash equivalents at the beginning of the period		257,418		2,359,350		864,305
Cash and cash equivalents at the end of the period		$269,465		$257,418		$2,359,350

Supplemental information
Cash paid for:
Interest		$151,403		$31,599		$16,249
Income Taxes		$36,171		$35,304		$24,165
Non-cash item:
Transfer of loans from held-for-investment to held-for-sale		$—		$—		$17,492

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