Metropolitan Bank Q4 2024 Earnings Report

Reported strong Q4 and full year results, underscored by successful execution of strategic initiatives.

Key Takeaways

Metropolitan Bank Holding Corp. reported a strong fourth quarter with net income of $21.4 million, or $1.88 per diluted common share, compared to $14.6 million, or $1.28 per diluted common share, for the same quarter last year. The net interest margin increased to 3.66%, and total loans reached $6.0 billion. Deposit growth was also strong, with total deposits reaching $6.0 billion.

Net interest margin increased by 4 basis points to 3.66% compared to the prior quarter and 30 basis points year-over-year.

Total loans grew to $6.0 billion, up 2.3% from the previous quarter and 7.3% from the prior year.

Total deposits reached $6.0 billion, reflecting a 4.3% increase from the prior year.

Diluted earnings per share were $1.88, compared to $1.08 for the prior linked quarter and $1.28 for the prior year period.

Total Revenue

$71M

Previous year: $63.6M