Metropolitan Bank Holding Corp
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
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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.
Sep 30, 2024 · Filed Nov 8, 2024
MCB$96.44+0.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)
(in thousands)
| | | | | | | | |
|---|---|---|---|---|---|---|---|
| · · Nine months ended September 30, · | |||||||
| · 2024 · 2023 | |||||||
| Cash flows from operating activities | | | | | | | |
| Net income | | $45,268 | | $62,700 | | ||
| Adjustments to reconcile net income to net cash: | | | | | | | |
| Net depreciation, amortization, and accretion | | | (9,031) | | | 4,831 | |
| Provision for credit losses | | | 4,757 | | | 5,742 | |
| Stock-based compensation | | | 6,601 | | | 7,438 | |
| Other, net | | | (3,090) | | | 33 | |
| Net change in: | | | | | | | |
| Receivable from global payments, net | | | (8,400) | | | 5,713 | |
| Third-party debit cardholder balances | | | 11,792 | | | (282) | |
| Other assets | | | (10,014) | | | (22,681) | |
| Other liabilities | | | 27,170 | | | 9,679 | |
| Net cash provided by (used in) operating activities | | | 65,053 | | | 73,173 | |
| | | | | | | | |
| Cash flows from investing activities | | | | | | | |
| Loan originations, purchases and payments, net | | | (261,256) | | | (516,724) | |
| Redemptions of FRB and FHLB Stock | | | 37,770 | | | 136,551 | |
| Purchases of FRB and FHLB Stock | | | (25,390) | | | (149,456) | |
| Purchase of securities available-for-sale | | | (72,810) | | | (27,864) | |
| Purchase of securities held-for-investment | | | — | | | (24,595) | |
| Proceeds from paydowns and maturities of securities available-for-sale | | | 38,164 | | | 32,292 | |
| Proceeds from paydowns and maturities of securities held-to-maturity | | | 29,976 | | | 56,080 | |
| Purchase of premises and equipment, net | | | (1,493) | | | (4,911) | |
| Net cash provided by (used in) investing activities | | | (255,039) | | | (498,627) | |
| | | | | | | | |
| Cash flows from financing activities | | | | | | | |
| Proceeds from (repayments of) federal funds purchased, net | | | (99,000) | | | (150,000) | |
| Proceeds from (repayments of) FHLB advances, net | | | (290,000) | | | 255,000 | |
| Redemption of common stock for tax withholdings for restricted stock vesting | | | (4,509) | | | (3,170) | |
| Proceeds from (repayments of) secured and other borrowings, net | | | 99,893 | | | (104) | |
| Net increase (decrease) in deposits | | | 532,615 | | | 243,677 | |
| Net cash provided by (used in) financing activities | | | 238,999 | | | 345,403 | |
| | | | | | | | |
| Increase (decrease) in cash and cash equivalents | | | 49,013 | | | (80,051) | |
| Cash and cash equivalents at the beginning of the period | | | 269,465 | | | 257,418 | |
| Cash and cash equivalents at the end of the period | | $318,478 | | $177,367 | | ||
| | | | | | | | |
| Supplemental information | | | | | | | |
| Cash paid for: | | | | | | | |
| Interest | | $158,294 | | $103,813 | | ||
| Income Taxes | | $30,001 | | $34,522 | | ||
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