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Sep 30, 2022
Metropolitan Bank Q3 2022 Earnings Report
Reported net income with revenues increased 48.1% year-over-year and loans increased 28.1% year-over-year.
Key Takeaways
Metropolitan Bank Holding Corp. reported a strong third quarter with net income of $25.0 million, or $2.23 per diluted common share, driven by strong loan growth and efficient capital leverage.
Net interest income increased 55.2% year-over-year to $63.3 million.
Net income increased 53.9% year-over-year to $25.0 million.
Diluted earnings per share increased 26.0% year-over-year to $2.23.
Loans totaled $4.6 billion, an increase of 28.1% year-over-year.
Metropolitan Bank
Metropolitan Bank
Forward Guidance
Management expressed confidence in MCB's ability to navigate the challenging economic outlook, citing its discipline in margin management and asset quality, branch-lite franchise model, and overall efficiencies.
Positive Outlook
- Maintaining discipline toward margin management.
- Maintaining discipline toward asset quality
- Operating a branch-lite franchise.
- Developing many deposit verticals.
- Leveraging platform effectively.
Challenges Ahead
- Challenging economic outlook for the industry.
- Liquidity in the industry is at a premium.
- Pricing is a challenge.
- Next several quarters will be interesting.
- Economic periods over the past two decades have been challenging.