Metropolitan Bank Q4 2021 Earnings Report

Reported record quarterly and annual net income with banking-as-a-service revenues increased and tangible book value per share also increased.

Key Takeaways

Metropolitan Bank Holding Corp. reported a strong fourth quarter and full year for 2021, with record net income driven by growth in both the commercial bank and Global Payments business. Total assets, loans, and deposits all saw significant increases, reflecting the company's sustained performance and recognition as one of Fortune's 100 Fastest Growing Companies in 2021.

Net income for Q4 2021 was $18.9 million, or $1.69 per diluted common share, compared to $11.8 million, or $1.39 per diluted common share, for Q4 2020.

Total assets reached $7.1 billion at December 31, 2021, a 15.9% increase from September 30, 2021.

Total deposits increased to $6.4 billion at December 31, 2021, up 17.9% from September 30, 2021.

Non-interest income was $7.1 million for Q4 2021, an increase of $1.2 million from the prior linked quarter.

Total Revenue

$51.9M

Previous year: $36.8M