Metropolitan Bank Holding Corp.
For the period ended Jun 30, 2025. Filed Aug 1, 2025.
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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.
Jun 30, 2025 · Filed Aug 1, 2025
MCB$95.47+0.4%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-03-31; filed 2025-05-02.
0001558370-25-006192
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-06-30; filed 2025-08-01.
0001558370-25-009986
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 72 previous paragraphs and 74 current paragraphs.
40 unchanged; 26 reworded; 8 added; 5 removed; 1 previous and 0 current paragraphs rearranged.
Tables are not compared: 12 previous and 19 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (8)
Current report
On July 17, 2025, the Company publicly announced that its Board of Directors declared a quarterly dividend of $0.15 per share on the Company’s common stock (the “Dividend”), the Company’s first cash dividend since its initial public offering in 2017. The Company expects to continue to distribute regular cash dividends subject to the discretion of the Board of Directors and in accordance with applicable securities, corporate and banking laws, rules, regulations, and guidance. The Dividend is payable on August 11, 2025 to holders of record of the Company’s common stock at the close of business on July 28, 2025.
Current report
Net income was $35.1 million for the six months ended June 30, 2025, an increase of $2.1 million as compared to $33.0 million for the six months ended June 30, 2024. This increase was due primarily to a $19.4 million increase in net interest income and a $4.3 million decrease in professional fees, partially offset by an $8.8 million increase in the provision for credit losses, the absence of $7.8 million of GPG revenue as a result of the exit from that business, and a $3.6 million increase in compensation and benefits related to the increase in the number of employees.
Current report
Net interest margin for the second quarter of 2025 was 3.83% compared to 3.44% for the second quarter of 2024. Net interest margin for the six months ended June 30, 2025 was 3.76% compared to 3.42% for the six months ended June 30, 2024. For the six months ended June 30, 2025, the 34 basis point increase in net interest margin is supported by rigorous loan and deposit pricing initiatives and an 18 basis point decrease in the total cost of funds which reflects the reduction in short-term interest rates.
Current report
Interest income increased $17.7 million to $245.8 million for the six months ended June 30, 2025 as compared to $228.1 million for the six months ended June 30, 2024, primarily due to the increase in the average balance of loans. The average balance of loans increased $619.7 million for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024.
Current report
Interest expense decreased $1.6 million to $105.2 million for the six months ended June 30, 2025 as compared to $106.8 million for the six months ended June 30, 2024, due primarily to the 18 basis point decrease in the total cost of funds, partially offset by the $822.6 million increase in the average balance of interest-bearing deposits for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024.
Current report
The provision for credit losses for the three months ended June 30, 2025 was $6.4 million, which reflects loan growth and provisioning for a CRE loan. The provision for credit losses for the six months ended June 30, 2025 was $10.9 million, which reflects loan growth and provisioning for a CRE loan and an unsecured C&I loan.
Current report
Non-interest expense increased $852,000 to $43.1 million for the second quarter of 2025, compared to the second quarter of 2024 due primarily to a $1.7 million increase in compensation and benefits related to the increase in the number of employees, a $1.7 million increase in deposit program related fees, and a $610,000 increase in technology costs, partially offset by decreases of $3.3 million in professional fees.
Current report
The estimated effective tax rate for the second quarter of 2025 was 29.9% as compared to 29.7% for the second quarter of 2024.
Removed paragraphs (5)
Previous report
On April 23, 2025, the Company announced that the capital plan recently approved by its board of directors contemplates the declaration of a quarterly cash dividend on the Company’s common stock as early as the third quarter of 2025, subject to approval by the board of directors. The Company will announce the size, record date and payment date for a quarterly dividend on its common stock, if any, upon approval and declaration of the dividend by the Company’s board of directors in accordance with applicable securities, corporate and banking laws, rules, regulations, and guidance. The approval and declaration of any dividends are subject to the discretion of the board of directors, which may change at any time or from time to time. The Company noted that the timing, manner and amount of any dividend payment, or any other capital action contemplated by the Company’s capital plan, is subject to various factors, including the Company’s capital position and prevailing market conditions.
Previous report
On March 12, 2025, the Company publicly announced that its board of directors approved a share repurchase plan with authorization to purchase up to $50.0 million dollars of the Company’s common stock. During the three months ended March 31, 2025, the Company repurchased 228,926 shares of the Company’s common stock at an average cost of $55.80 per share. At March 31, 2025, $37.2 million remained available under the currently authorized share repurchase plan.
Previous report
Net interest margin for the first quarter of 2025 was 3.68% compared to 3.40% for the first quarter of 2024. The 28 basis point increase was due primarily to an increase in the average balance of loans and a decrease in the cost of funds due to a reduction in short-term interest rates, partially offset by a decrease in the average balance of overnight deposits held at the FRB and by an increase in the average balance of deposits.
Previous report
The provision for credit losses for the first quarter of 2025 was $4.5 million as compared to $528,000 for the first quarter of 2024. The increase in the provision for credit losses from the prior year period was primarily driven by loan growth and a provision related to a single unsecured C&I loan.
Previous report
The estimated effective tax rate for the first quarter of 2025 was 30.0% as compared to 33.3% for the first quarter of 2024. The effective tax rate for the first quarter of 2024 reflects unfavorable discrete items related to employee stock compensation.
Reworded paragraphs (26)
Previous wording
On March 12, 2025, the Company’s board of directors approved a share repurchase plan with authorization to purchase up to $50.0 million dollars of the Company’s common stock. During the three months ended March 31, 2025, the Company repurchased 228,926 shares of the Company’s common stock at an average cost of $55.80 per share. At March 31, 2025, $37.2 million remained available under the currently authorized share repurchase plan.
Current wording
In May 2025, the Company used substantially all available capacity under a $50 million share repurchase program authorized on March 12, 2025, resulting in the purchase of 878,807 shares of common stock at an average price of $56.90 per share. On July 17, 2025, the Company’s Board of Directors approved a new share repurchase plan with authorization to purchase up to an additional $50 million of the Company’s common stock. In aggregate, the Board of Directors has authorized $100 million of share repurchases since March 2025.
Previous wording
The Company may repurchase shares of common stock from time to time on the open market or by other means in accordance with applicable securities laws and other restrictions, including, in part, under a Rule 10b5-1 plan. The number of shares to be repurchased and the timing of additional repurchases, if any, will depend on several factors, including market conditions, prevailing share price, corporate and regulatory requirements, and other considerations. The share repurchase plan has no expiration date, may be discontinued or suspended at any time and does not obligate the Company to acquire any amount of its common stock.
Current wording
The Company may repurchase shares of common stock from time to time on the open market or by other means in accordance with applicable securities laws and other restrictions, including, in part, under a Rule 10b5-1 plan. The number of shares to be repurchased and the timing of repurchases, if any, will depend on several factors, including market conditions, prevailing share price, corporate and regulatory requirements, and other considerations. The share repurchase plan has no expiration date, may be discontinued or suspended at any time and does not obligate the Company to acquire any amount of its common stock.
Previous wording
One of the more significant judgments involved in estimating the Company’s ACL relates to the macroeconomic forecasts used to estimate credit losses and the relative weightings applied to them. To illustrate the impact of changes in these forecasts to the Company’s ACL, the Company performed a hypothetical sensitivity analysis that decreased the weight on the baseline scenario by 33% and equally allocated the difference to increase the weights on the more optimistic and adverse scenarios. All else equal, the impact of this hypothetical forecast would result in a net increase of approximately $6.7 million, or 9.9%, in the Company’s total ACL for loans and loan commitments as of March 31, 2025. This hypothetical analysis is intended to illustrate the impact of adverse changes in the macroeconomic forecasts at a point in time and is not intended to reflect the full nature and extent of potential future change in the ACL. It is difficult to estimate how potential changes in any one of the quantitative inputs or qualitative factors might affect the overall ACL and the Company’s current assessments may not reflect the potential future impact of changes to those inputs or factors.
Current wording
One of the more significant judgments involved in estimating the Company’s ACL relates to the macroeconomic forecasts used to estimate credit losses and the relative weightings applied to them. To illustrate the impact of changes in these forecasts to the Company’s ACL, the Company performed a hypothetical sensitivity analysis that decreased the weight on the baseline scenario by 33% and equally allocated the difference to increase the weights on the more optimistic and adverse scenarios. All else equal, the impact of this hypothetical forecast would result in a net increase of approximately $6.2 million, or 8.4%, in the Company’s total ACL for loans and loan commitments as of June 30, 2025. This hypothetical analysis is intended to illustrate the impact of adverse changes in the macroeconomic forecasts at a point in time and is not intended to reflect the full nature and extent of potential future change in the ACL. It is difficult to estimate how potential changes in any one of the quantitative inputs or qualitative factors might affect the overall ACL and the Company’s current assessments may not reflect the potential future impact of changes to those inputs or factors.
Previous wording
The Company had total assets of $7.6 billion at March 31, 2025, an increase of $315.5 million, or 4.3%, from December 31, 2024.
Current wording
The Company had total assets of $7.9 billion at June 30, 2025, an increase of $553.1 million, or 7.6%, from December 31, 2024.
Previous wording
Total cash and cash equivalents were $196.5 million at March 31, 2025, a decrease of $3.8 million, or 1.9%, from December 31, 2024. The decrease from December 31, 2024 primarily reflects an increase in the loan book of $308.0 million and a $165.0 million decrease in wholesale funding, partially offset by an increase of $466.3 million in deposits.
Current wording
Total cash and cash equivalents were $152.5 million at June 30, 2025, a decrease of $47.8 million, or 23.9%, from December 31, 2024. The decrease from December 31, 2024 primarily reflects an increase in the loan book of $578.7 million and a $250 million decrease in wholesale funding, partially offset by an increase of $808.3 million in deposits.
Previous wording
Total securities were $927.7 million at March 31, 2025, an increase of $12.0 million, or 1.3%, from December 31, 2024. The increase was primarily due to the purchase of $44.3 million of AFS securities, and the $10.0 million unrealized gain on AFS securities during the first quarter of 2025, partially offset by the $42.3 million paydown and maturities of AFS and HTM securities.
Current wording
Total securities were $944.2 million at June 30, 2025, an increase of $28.5 million or 3.1%, from December 31, 2024. The increase was primarily due to the purchase of $85.1 million of AFS securities, and the $14.5 million unrealized gain on AFS securities during the first six months of 2025, partially offset by the $71.2 million paydown and maturities of AFS and HTM securities.
Previous wording
Total loans, net of deferred fees and unamortized costs, were $6.3 billion at March 31, 2025, an increase of $308.0 million, or 5.1%, from December 31, 2024. The increase in total loans from December 31, 2024 was due primarily to an increase of $278.0 million in CRE loans (including owner-occupied). For the three months ended March 31, 2025, the Company’s loan production was $409.8 million as compared to $269.6 million for the three months ended March 31, 2024. At March 31, 2025, 76.8% of the CRE and C&I loan portfolio was concentrated in the New York metropolitan area, mainly New York City, and Florida.
Current wording
Total loans, net of deferred fees and unamortized costs, were $6.6 billion at June 30, 2025, an increase of $578.7 million, or 9.6%, from December 31, 2024. The increase in total loans from December 31, 2024 was due primarily to an increase of $252.5 million in CRE loans (including owner-occupied). At June 30, 2025, 77.1% of the CRE and C&I loan portfolio was concentrated in the New York metropolitan area, mainly New York City, and Florida.
Previous wording
The largest concentration in the loan portfolio is to the healthcare industry, which amounted to $2.5 billion, or 38.9% of total loans, at March 31, 2025, including $2.4 billion in loans to skilled nursing facilities.
Current wording
The largest concentration in the loan portfolio is to the healthcare industry, which amounted to $2.6 billion, or 40.0% of total loans, at June 30, 2025, including $2.5 billion in loans to skilled nursing facilities.
Previous wording
Non-performing loans increased to $34.5 million at March 31, 2025 compared to $32.6 million at December 31, 2024 primarily due to a single unsecured C&I loan. The table below sets forth key asset quality ratios (dollars in thousands):
Current wording
Non-performing loans increased to $39.9 million at June 30, 2025 compared to $32.6 million at December 31, 2024 primarily due to two secured CRE loans, a longstanding secured residential loan and a single unsecured C&I loan. The table below sets forth key asset quality ratios (dollars in thousands):
Previous wording
The ACL was $67.8 million at March 31, 2025, as compared to $63.3 million at December 31, 2024. The Company recorded a $4.5 million provision for credit losses for the three months ended March 31, 2025, which primarily reflects loan growth and a provision related to a single unsecured C&I loan.
Current wording
The ACL was $74.1 million at June 30, 2025, as compared to $63.3 million at December 31, 2024. The Company recorded a $10.8 million provision for credit losses for the six months ended June 30, 2025, which primarily reflects loan growth, provisioning for a commercial real estate loan and an unsecured C&I loan, and changes in the outlook for certain macroeonomic variables.
Previous wording
Total deposits were $6.4 billion at March 31, 2025, an increase of $466.3 million, or 7.8%, from December 31, 2024. The increase from December 31, 2024 was due primarily to increases across most of the Company’s various deposit verticals. Non-interest-bearing demand deposits were 21.5% of total deposits at March 31, 2025, compared to 22.3% at December 31, 2024.
Current wording
Total deposits were $6.8 billion at June 30, 2025, an increase of $808.3 million, or 13.5%, from December 31, 2024. The increase from December 31, 2024 was due primarily to increases across most of the Company’s various deposit verticals. Non-interest-bearing demand deposits were 21.0% of total deposits at June 30, 2025, compared to 22.3% at December 31, 2024.
Previous wording
At March 31, 2025, the aggregate estimated amount of FDIC uninsured deposits was $1.7 billion, and the aggregate estimated amount of uninsured time deposits was $26.5 million. The following table presents the scheduled maturities of time deposits greater than $250,000 (in thousands):
Current wording
At June 30, 2025, the aggregate estimated amount of FDIC uninsured deposits was $1.8 billion, and the aggregate estimated amount of uninsured time deposits was $29.5 million. The following table presents the scheduled maturities of time deposits greater than $250,000 (in thousands):
Previous wording
To support the balance sheet, the Company may at times utilize FHLB advances or other funding sources. At March 31, 2025, the Company had $125.0 million of Federal funds purchased and $160.0 million of FHLBNY advances. At December 31, 2024, the Company had $210.0 million of Federal funds purchased and $240.0 million of FHLBNY advances.
Current wording
To support the balance sheet, the Company may at times utilize FHLB advances or other funding sources. At June 30, 2025, the Company had $50.0 million of Federal funds purchased and $150.0 million of FHLBNY advances. At December 31, 2024, the Company had $210.0 million of Federal funds purchased and $240.0 million of FHLBNY advances.
Previous wording
Accumulated other comprehensive loss, net of tax, was $47.2 million at March 31, 2025, a decrease of $6.0 million from December 31, 2024. The decrease from December 31, 2024 was primarily due to unrealized gains on AFS securities, as a result of changes in prevailing market interest rates.
Current wording
Accumulated other comprehensive loss, net of tax, was $45.5 million at June 30, 2025, a decrease of $7.7 million from December 31, 2024. The decrease from December 31, 2024 was primarily due to unrealized gains on AFS securities, as a result of changes in prevailing market interest rates.
Previous wording
Net income was $16.4 million for the first quarter of 2025, an increase of $151,000 as compared to $16.2 million for the first quarter of 2024. This increase was due primarily to a $7.3 million increase in net interest income, a combined $2.6 million decrease in professional fees, licensing fees and technology costs, and a lower effective tax rate in the first quarter of 2025 compared to the first quarter of 2024, partially offset by a $4.0 million increase in the provision for credit losses, the absence of $4.1 million of GPG revenue as a result of the exit of that business and a $1.9 million increase in compensation and benefits related to the increase in the number of employees.
Current wording
Net income was $18.8 million for the second quarter of 2025, an increase of $2.0 million as compared to $16.8 million for the second quarter of 2024. This increase was due primarily to a $12.1 million increase in net interest income and a $3.3 million decrease in professional fees, partially offset by a $4.8 million increase in the provision for credit losses, the absence of $3.7 million of GPG revenue as a result of the exit from that business, and a $1.7 million increase in compensation and benefits related to the increase in the number of employees.
Previous wording
Interest income increased $6.4 million to $118.8 million for the first quarter of 2025 as compared to $112.3 million for the first quarter of 2024, primarily due to the increase in the average balance of loans, partially offset by a decrease in the average balance of overnight deposits held at the FRB. The average balance of loans increased $505.5 million for the first quarter of 2025 as compared to the first quarter of 2024. The average balance of overnight deposits held at the FRB decreased $143.6 million for the first quarter of 2025 as compared to the first quarter of 2024.
Current wording
Interest income increased $11.3 million to $127.0 million for the second quarter of 2025 as compared to $115.8 million for the second quarter of 2024, primarily due to the increase in the average balance of loans. The average balance of loans increased $732.4 million for the second quarter of 2025 as compared to the second quarter of 2024.
Previous wording
Interest expense decreased $808,000 to $51.8 million for the first quarter of 2025 as compared to $52.6 million for the first quarter of 2024 due primarily to the 11 basis point decrease in total cost of funds that reflects the reduction in short- term interest rates, partially offset by the $740.7 million increase in the average balance of interest-bearing deposits for the first quarter of 2025 as compared to the first quarter of 2024.
Current wording
Interest expense decreased $826,000 to $53.4 million for the second quarter of 2025 as compared to $54.2 million for the second quarter of 2024 due primarily to the 24 basis point decrease in total cost of funds that reflects the reduction in short- term interest rates, partially offset by the $902.9 million increase in the average balance of interest-bearing deposits for the second quarter of 2025 as compared to the second quarter of 2024.
Previous wording
Non-interest income decreased $3.4 million to $3.6 million for the first quarter of 2025, as compared to the first quarter of 2024 driven primarily by the absence of GPG revenue due to the exit of that business.
Current wording
Non-interest income decreased $3.5 million to $2.6 million for the second quarter of 2025, as compared to the second quarter of 2024 driven primarily by the absence of GPG revenue due to the exit from that business. Non-interest income decreased $6.9 million to $6.2 million for the six months ended June 30, 2025, as compared to the six months ended June 30, 2024 driven primarily by the absence of GPG revenue due to the exit from that business.
Previous wording
Non-interest expense increased $822,000 to $42.7 million for the first quarter of 2025, as compared to $41.9 million for the first quarter of 2024. The increase from the prior year period was due primarily to a $1.9 million increase in compensation and benefits related to the increase in the number of employees, and a $1.1 million increase in deposit related fees, partially offset by decreases of $986,000 in professional fees, $802,000 in licensing fees and $791,000 in technology costs.
Current wording
Non-interest expense increased $1.6 million to $85.8 million for the six months ended June 30, 2025, as compared to the six months ended June 30, 2024, due primarily to an increase of $3.6 million in compensation and benefits due to the increase in the number of employees and a $2.6 million increase in deposit program related fees, partially offset by decreases of $4.3 million in professional fees.
Previous wording
At March 31, 2025, the Company had $685.4 million in unused loan commitments and $29.0 million in standby and commercial letters of credit. At December 31, 2024, the Company had $695.4 million in unused commitments and $31.9 million in standby and commercial letters of credit.
Current wording
At June 30, 2025, the Company had $715.8 million in unused loan commitments and $27.9 million in standby and commercial letters of credit. At December 31, 2024, the Company had $695.4 million in unused commitments and $31.9 million in standby and commercial letters of credit.
Previous wording
The Company’s most liquid assets are cash and cash equivalents. The levels of these assets are dependent on the Company’s operating, financing, lending and investing activities during any given period. At March 31, 2025 and December 31, 2024, cash and cash equivalents totaled $196.5 million and $200.3 million, respectively. Securities classified as AFS, which provide an additional source of liquidity, totaled $523.5 million at March 31, 2025 and $482.1 million at December 31, 2024. At March 31, 2025, there were $761.7 million of securities pledged to support wholesale funding, and to a lesser extent certain other types of deposits, of which $60.7 million were encumbered. At December 31, 2024, there were $750.3 million of securities pledged to support wholesale funding, and to a lesser extent certain other types of deposits, of which $65.5 million were encumbered.
Current wording
The Company’s most liquid assets are cash and cash equivalents. The levels of these assets are dependent on the Company’s operating, financing, lending and investing activities during any given period. At June 30, 2025 and December 31, 2024, cash and cash equivalents totaled $152.5 million and $200.3 million, respectively. Securities, which provide an additional source of liquidity, totaled $944.2 million at June 30, 2025 and $915.8 million at December 31, 2024. At June 30, 2025, there were $779.8 million of securities pledged to support wholesale funding, and to a lesser extent certain other types of deposits, of which $106.6 million were encumbered. At December 31, 2024, there were $750.3 million of securities pledged to support wholesale funding, and to a lesser extent certain other types of deposits, of which $65.5 million were encumbered.
Previous wording
The Company’s primary investing activities are the origination and to a lesser extent, purchase of loans and securities. The Company originated $409.8 million and $269.6 million of loans during the three months ended March 31, 2025 and 2024, respectively. During the three months ended March 31, 2025, the Company purchased $44.3 million of AFS securities. During the three months ended March 31, 2024, the Company purchased $53.3 million of AFS securities.
Current wording
The Company’s primary investing activities are the origination and to a lesser extent, purchase of loans and securities. For the three and six months ended June 30, 2025, the Company’s loan production was $492.0 million and $901.8 million as compared to $290.8 million and $560.4 million, respectively, for the three and six months ended June 30, 2024.
Previous wording
Financing activities consisted primarily of activity in deposit accounts and borrowings. The Company gathers deposits from businesses and individuals through client referrals and other relationships and through its retail presence. The Company has established deposit concentration thresholds to avoid the possibility of dependence on any single depositor base for funds. Total deposits were $6.4 billion at March 31, 2025, an increase of $466.3 million, or 7.8%, from December 31, 2024.
Current wording
Financing activities consisted primarily of activity in deposit accounts and borrowings. The Company gathers deposits from businesses and individuals through client referrals and other relationships and through its retail presence. The Company has established deposit concentration thresholds to avoid the possibility of dependence on any single depositor base for funds. Total deposits were $6.8 billion at June 30, 2025, an increase of $808.3 million, or 13.5%, from December 31, 2024.
Previous wording
At March 31, 2025, interest-bearing deposits were comprised of $4.9 billion of money market accounts and $133.9 million of time deposits. Time deposits due within one year of March 31, 2025 totaled $126.6 million, or 2.0%, of total deposits. At March 31, 2025, the aggregate estimated amount of FDIC uninsured deposits was $1.7 billion. At December 31, 2024, interest-bearing deposits were comprised of $4.5 billion of money market accounts and $125.4 million of time deposits. Time deposits due within one year December 31, 2024 totaled $118.1 million or 2.0% of total deposits. Non-interest-bearing deposits were 21.5% of total deposits at March 31, 2025, as compared to 22.3% at December 31, 2024. At December 31, 2024, the aggregate estimated amount of FDIC uninsured deposits was $1.6 billion.
Current wording
At June 30, 2025, interest-bearing deposits were comprised of $5.2 billion of money market accounts and $123.4 million of time deposits. Time deposits due within one year of June 30, 2025 totaled $120.2 million, or 1.8%, of total deposits. At June 30, 2025, the aggregate estimated amount of FDIC uninsured deposits was $1.8 billion. At December 31, 2024, interest-bearing deposits were comprised of $4.5 billion of money market accounts and $125.4 million of time deposits. Time deposits due within one year of December 31, 2024 totaled $118.1 million or 2.0% of total deposits. Non-interest-bearing deposits were 21.0% of total deposits at June 30, 2025, as compared to 22.3% at December 31, 2024. At December 31, 2024, the aggregate estimated amount of FDIC uninsured deposits was $1.6 billion.
Previous wording
The Company has no material commitments or demands that are likely to affect its liquidity other than as set forth below. In the event loan demand were to increase faster than expected, or any other unforeseen demand or commitment were to occur, the Company could access its borrowing capacity with the FHLB or obtain additional funds through alternative funding sources, including the brokered deposit market. At March 31, 2025, the Company had $125.0 million of Federal funds purchased and $160.0 million of FHLBNY advances. At December 31, 2024, the Company had $210.0 million of Federal funds purchased and $240.0 million of FHLBNY advances. At March 31, 2025 and December 31, 2024, the Company had cash on deposit with the FRBNY and available secured wholesale funding borrowing capacity of $2.9 billion.
Current wording
The Company has no material commitments or demands that are likely to affect its liquidity other than as set forth below. In the event loan demand were to increase faster than expected, or any other unforeseen demand or commitment were to occur, the Company could access its borrowing capacity with the FHLB or obtain additional funds through alternative funding sources, including the brokered deposit market. At June 30, 2025, the Company had $50.0 million of Federal funds purchased and $150.0 million of FHLBNY advances. At December 31, 2024, the Company had $210.0 million of Federal funds purchased and $240.0 million of FHLBNY advances. At June 30, 2025 and December 31, 2024, the Company had cash on deposit with the FRBNY and available secured wholesale funding borrowing capacity of $2.9 billion.
Previous wording
At March 31, 2025 and December 31, 2024, total non-owner-occupied CRE loans were 367.0% and 346.1% of risk-based capital, respectively. The increased CRE concentration ratio is primarily the result of the Bank funding the share repurchase program at the holding company.
Current wording
At June 30, 2025 and December 31, 2024, total non-owner-occupied CRE loans were 371.9% and 346.1% of risk-based capital, respectively. The increased CRE concentration ratio is primarily the result of the Bank funding the share repurchase program and the anticipated quarterly dividends at the holding company. See “—Recent Events” above for more information on the Company’s quarterly dividend and share repurchase program.
Rearranged previous paragraphs (1)
Previous report — wording carried elsewhere
The Company may repurchase shares of common stock from time to time on the open market or by other means in accordance with applicable securities laws and other restrictions, including, in part, under a Rule 10b5-1 plan. The number of shares to be repurchased and the timing of additional repurchases, if any, will depend on several factors, including market conditions, prevailing share price, corporate and regulatory requirements, and other considerations. The share repurchase plan has no expiration date, may be discontinued or suspended at any time and does not obligate the Company to acquire any amount of its common stock.