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Midas Edge

Metropolitan Bank Holding Corp

For the period ended Dec 31, 2024. Filed Feb 28, 2025.

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.

FY2024 · Filed Feb 28, 2025

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,
​202420232022
Interest and dividend income​​​​​​​​​
Loans, including fees​$429,748​$345,039​$231,851
Securities​​21,378​​18,525​​15,635
Overnight deposits​​15,013​​9,319​​12,314
Other interest and dividends​​2,240​​2,522​​939
Total interest income​​468,379​​375,405​​260,739
Interest expense​​​​​​​​​
Deposits​​198,013​​128,677​​29,284
Borrowed funds​​15,795​​22,424​​893
Trust preferred securities​​1,487​​1,468​​799
Subordinated debt​​—​​—​​605
Total interest expense​​215,295​​152,569​​31,581
​​​​​​​​​​
Net interest income​​253,084​​222,836​​229,158
Provision for credit losses​​6,257​​12,283​​10,116
Net interest income after provision for credit losses​​246,827​​210,553​​219,042
​​​​​​​​​​
Non-interest income​​​​​​​​​
Service charges on deposit accounts​​8,269​​6,071​​5,747
Global Payments Group revenue​​13,355​​19,005​​19,341
Other income​​2,205​​2,827​​1,505
Total non-interest income​​23,829​​27,903​​26,593
​​​​​​​​​​
Non-interest expense​​​​​​​​​
Compensation and benefits​​77,859​​66,961​​57,290
Bank premises and equipment​​9,656​​9,344​​8,855
Professional fees​​21,320​​18,064​​14,423
Technology costs​​11,012​​4,940​​4,713
Licensing fees​​13,084​​12,818​​10,477
FDIC assessments​​11,780​​9,077​​4,625
Regulatory settlement reserve​​9,463​​(5,521)​​35,000
Other expenses​​19,401​​15,855​​13,354
Total non-interest expense​​173,575​​131,538​​148,737
​​​​​​​​​​
Net income before income tax expense​​97,081​​106,918​​96,898
Income tax expense​​30,395​​29,650​​37,473
Net income​$66,686​$77,268​$59,425
​​​​​​​​​​
Earnings per common share​​​​​​​​​
Basic earnings​$5.97​$6.95​$5.42
Diluted earnings​$5.93​$6.91​$5.29
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.