Metropolitan Bank Holding Corp. reported a net income of $6.1 million, or $0.72 per diluted common share, for the first quarter of 2020. The results were impacted by a $3.1 million provision for loan losses related to COVID-19.
Net income for Q1 2020 was $6.1 million, or $0.72 per diluted common share.
Included a $3.1 million COVID-19-related provision for loan losses.
Total assets reached $3.61 billion.
Total deposits increased to $3.02 billion.
The company is positioned to identify opportunities on both sides of its balance sheet which will continue to contribute to long term stability and the Company’s intrinsic franchise value.
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