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Dec 31, 2022
Metropolitan Bank Q4 2022 Earnings Report
Metropolitan Bank experienced a net loss due to regulatory settlement reserve, while adjusted net income demonstrated a record year.
Key Takeaways
Metropolitan Bank Holding Corp. reported a net loss of $7.7 million for Q4 2022, impacted by a $35.0 million regulatory settlement reserve. However, adjusted net income, excluding this reserve, was $27.3 million, reflecting a record year on an operating basis.
Net loss of $7.7 million, or $0.71 per diluted common share reported.
Adjusted net income of $27.3 million, or $2.43 per diluted common share, after removing the impact of the regulatory settlement reserve.
Net interest income increased by 42.6% year-over-year.
Net interest margin increased by 146 basis points year-over-year.
Metropolitan Bank
Metropolitan Bank
Forward Guidance
The company did not provide any forward guidance in the earnings report.