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Midas Edge

Metropolitan Bank Holding Corp

For the period ended Sep 30, 2024. Filed Nov 8, 2024.

View on SEC.gov

About 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.

Sep 30, 2024 · Filed Nov 8, 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

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

(in thousands, except per share data)

​​​​​​​​​​​​​
​ · ​ · Three months ended September 30, · ​ · Nine months ended September 30,
​2024202320242023
Interest and dividend income​​​​​​​​​​​​
Loans, including fees​$111,286​$90,666​$318,262​$247,142
Securities​​5,434​​4,686​​16,071​​13,864
Overnight deposits​​3,223​​1,783​​12,544​​7,353
Other interest and dividends​​511​​762​​1,673​​1,779
Total interest income​​120,454​​97,897​​348,550​​270,138
Interest expense​​​​​​​​​​​​
Deposits​​51,737​​36,234​​149,178​​86,010
Borrowed funds​​3,105​​7,710​​11,753​​17,197
Trust preferred securities​​379​​396​​1,138​​1,089
Total interest expense​​55,221​​44,340​​162,069​​104,296
​​​​​​​​​​​​​
Net interest income​​65,233​​53,557​​186,481​​165,842
Provision for credit losses​​2,691​​791​​4,757​​5,742
Net interest income after provision for credit losses​​62,542​​52,766​​181,724​​160,100
​​​​​​​​​​​​​
Non-interest income​​​​​​​​​​​​
Service charges on deposit accounts​​2,135​​1,463​​6,092​​4,400
Global Payments Group revenue​​3,500​​4,247​​11,255​​14,828
Other income​​650​​803​​2,081​​2,114
Total non-interest income​​6,285​​6,513​​19,428​​21,342
​​​​​​​​​​​​​
Non-interest expense​​​​​​​​​​​​
Compensation and benefits​​19,885​​17,208​​58,244​​48,751
Bank premises and equipment​​2,471​​2,396​​7,136​​7,027
Professional fees​​4,745​​3,873​​17,633​​13,033
Technology costs​​2,969​​1,171​​9,023​​3,966
Licensing fees​​3,411​​3,504​​9,867​​9,180
FDIC assessments​​2,950​​1,984​​8,800​​6,438
Regulatory settlement reserve​​10,000​​(3,021)​​10,000​​(5,521)
Other expenses​​4,826​​3,809​​14,711​​11,517
Total non-interest expense​​51,257​​30,924​​135,414​​94,391
​​​​​​​​​​​​​
Net income before income tax expense​​17,570​​28,355​​65,738​​87,051
Income tax expense​​5,304​​6,292​​20,470​​24,351
Net income​$12,266​$22,063​$45,268​$62,700
​​​​​​​​​​​​​
Earnings per common share​​​​​​​​​​​​
Basic earnings​$1.10​$1.99​$4.05​$5.64
Diluted earnings​$1.08​$1.97​$4.04​$5.61
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.