Metropolitan Bank Holding Corp. Reports Second Quarter 2026 Results

About this update from Metropolitan Bank Holding Corp.

Metropolitan Bank Holding Corp. (the “Company”) (NYSE: MCB), the holding company for Metropolitan Commercial Bank (the “Bank”), reported net income of $19.2 million, or $1.54 per diluted common share, for the second quarter of 2026 compared to $31.4 million, or $2.92 per diluted common share, for the first quarter of 2026 and $18.8 million, or $1.76 per diluted common share, for the second quarter of 2025. Mark DeFazio, President and Chief Executive Officer, commented, “I am pleased with the continued progress we are making across the franchise. Balance sheet growth remains consistent with our prior guidance, our lending pipeline remains robust, and loan yields continue to hold. On the funding side, our deposit forecast remains in line with guidance, and we continue to expect the momentum in our core operating trends to persist. This quarter’s earnings were noticeably affected by isolated items. However, we made significant progress in the resolution of legacy asset quality matters.” Balance Sheet Total loans, net of deferred fees and unamortized costs, were $7.3 billion at June 30, 2026, an increase of $282.4 million, or 4.0%, from March 31, 2026, and an increase of $716.1 million, or 10.8%, from June 30, 2025. Loan production was $718.9 million for the second quarter of 2026 compared to $428.3 million for the prior linked quarter and $492.0 million for the prior year period. The increase in total loans from March 31, 2026 was due primarily to an increase of $330.3 million in CRE loans (including owner-occupied), partially offset by a decrease of $69.8 million in C&I loans. The increase in total loans from June 30, 2025 was due primarily to an increase of $918.1 million in CRE loans (including owner-occupied), partially offset by a decrease of $184.9 million in commercial and industrial loans. Total deposits were $7.7 billion at June 30, 2026, a decrease of $8.2 million, or 0.1%, from March 31, 2026, and an increase of $940.2 million, or 13.8%, from June 30, 2025. The small decline in deposits from March 31, 2026 was driven by seasonal outflows of certain municipal deposits, as well as the Bank’s planned termination of a $100.0 million high cost treasury deposit. The increase in total deposits from June 30, 2025 was broadly distributed across the Bank’s various deposit verticals. The Bank’s liquidity position remains robust. At June 30, 2026, cash on deposit with the Federal Reserve Bank of New York and available secured funding capacity totaled $3.1 billion, which represented 156% of our estimated uninsured deposits. Total cash and cash equivalents were $239.3 million at June 30, 2026. The Company and Bank have total risk-based capital ratios well above regulatory minimums. The Bank is “well capitalized” under all applicable regulatory guidelines. Total non-owner-occupied CRE loans were 304.1% of total risk-based capital at June 30, 2026, compared to 299.5% and 371.9% at March 31, 2026 and June 30, 2025, respectively. The CRE loan concentration ratio declined from June 30, 2025 primarily owing to the increase in the Bank’s total capital as a result of the completion of the Company’s follow-on public equity offering of common stock in the first quarter of 2026. Income Statement Financial Highlights     Three months ended     Six months ended     Jun. 30,   Mar. 31,   Jun. 30,     Jun. 30,   Jun. 30,   (dollars in thousands, except per share data)   2026   2026   2025     2026   2025   Total revenues (1)   $ 93,010   $ 88,490   $ 76,270     $ 181,500   $ 146,860   Net income (loss)   $ 19,223   $ 31,426   $ 18,767       50,649     35,121   Diluted earnings (loss) per common share   $ 1.54   $ 2.92   $ 1.76       4.40     3.20   Return on average assets (2)     0.86 %   1.49 %   0.97 %     1.16 %   0.93 % Return on average equity (2)     8.0 %   15.4 %   10.4 %     11.4 %   9.7 % Return on average tangible common equity (2), (3)     8.1 %   15.6 %   10.5 %     11.5 %   9.8 % _______________ (1)   Total revenues equal net interest income plus non-interest income. (2)   Ratios are annualized. (3)   Determined by dividing net income by average tangible common equity. Return on average tangible common equity is a Non-GAAP financial measure. See Reconciliation of Non-GAAP Measures on page 13. Net Interest Income Net interest income for the second quarter of 2026 was $90.4 million compared to $85.9 million for the prior linked quarter and $73.6 million for the prior year period. The $4.5 million increase from the prior linked quarter was primarily due to an increase in the average balance of loans, securities, and overnight deposits and a decrease in the total cost of funds, partially offset by an increase in the average balance of interest-bearing deposits. The $16.8 million increase from the prior year period was primarily due to an increase in the average balance of loans and overnight deposits and a decrease in the cost of funds, partially offset by an increase in the average balance of interest-bearing deposits. Net Interest Margin Net interest margin for the second quarter of 2026 was 4.08% compared to 4.08% and 3.83% for the prior linked quarter and prior year period, respectively. The total cost of funds for the second quarter of 2026 was 257 basis points compared to 261 basis points and 310 basis points for the prior linked quarter and prior year period, respectively. The decrease from the prior linked quarter primarily reflects changes in deposit mix. The decrease from the prior year period primarily reflects the decline in short-term interest rates. Non-Interest Income Non-interest income was $2.6 million for the second quarter of 2026, a decrease of $19,000 from the prior linked quarter and a decrease of $61,000 from the prior year period. The decrease from the prior linked quarter was primarily due to a decrease in service charges on deposit accounts, partially offset by an increase in loan production fees. The decrease from the prior year period was driven primarily by a decrease in loan production fees, partially offset by an increase in service charges on deposit accounts. Non-Interest Expense Non-interest expense was $51.8 million for the second quarter of 2026, an increase of $5.4 million from the prior linked quarter and an increase of $8.7 million from the prior year period. The $5.4 million increase from the prior linked quarter was primarily due to a $1.8 million one-time legal accrual, $1.4 million increase in professional fees, and $1.2 million increase in compensation and benefits, partially offset by a $560,000 decrease in the FDIC assessment. The $8.7 million increase from the prior year period was due primarily to a $5.1 million increase in compensation and benefits, a $1.8 million one-time legal accrual, and $1.1 million increase in technology costs, partially offset by a $1.7 million decrease in the Federal Deposit Insurance Corporation (“FDIC”) assessment. Income Tax Expense The effective tax rate for the second quarter of 2026 was 31.1% compared to 29.2% for the prior linked quarter and 29.9% for the prior year period. Asset Quality The ratio of non-performing loans to total loans was 0.91% at June 30, 2026, 1.01% at March 31, 2026 and 0.60% at June 30, 2025. The decrease in the non-performing loan ratio from the prior linked quarter primarily reflects the charge-off of the aforementioned CRE out-of-market loan relationship. The increase in the non-performing loan ratio from the prior year period is primarily attributable to the impact of the aforementioned CRE out-of-market and C&I non-core loan relationships. The allowance for credit losses was $62.0 million at June 30, 2026, a decrease of $20.1 million from March 31, 2026, and a decrease of $12.1 million from June 30, 2025. The decrease from March 31, 2026, primarily reflects the charge-off related to the aforementioned CRE out-of-market loan relationship. The decrease from June 30, 2025, was primarily due to enhancements made to the Bank’s allowance for credit loss estimation process implemented in the first quarter of 2026, as well as the charge-off related to the aforementioned CRE out-of-market loan relationship, partially offset by loan growth. Conference Call The Company will conduct a conference call at 9:00 a.m. ET on Wednesday, July 22, 2026, to discuss the results. To access the event by telephone, please dial 800-245-3047 (US), 203-518-9765 (INTL), and provide conference ID: MCBQ226 approximately 15 minutes prior to the start time (to allow time for registration). The call will also be broadcast live over the Internet and accessible at MCB Quarterly Results Conference Call and in the Investor Relations section of the Company’s website at MCB News. To listen to the live webcast, please visit the site at least 15 minutes prior to the start time to register, download and install any necessary audio software. For those unable to join for the live presentation, a replay of the webcast will also be available later that day accessible at MCB Quarterly Results Conference Call . About Metropolitan Bank Holding Corp. Metropolitan Commercial Bank (“MCB”) is a New York City–based, full-service commercial bank serving businesses, institutions, and individuals who value expertise, responsiveness, and long-term partnerships. Since 1999, MCB has built enduring client relationships, many spanning generations, by delivering consistent, relationship-driven banking. The Bank provides a full suite of commercial, business, and personal banking solutions, with deep expertise in sectors including real estate, property management, legal services, healthcare, government, and global investors utilizing EB-5 financial solutions. MCB combines specialized capabilities with a highly personalized approach, offering integrated solutions such as title and escrow services, 1031 exchanges, and merchant acquiring. MCB has received national recognition for its performance and innovation, including being named one of Newsweek’s Best Regional Banks in 2024 and 2025 and earning industry recognition for its lending performance and specialized commercial banking capabilities. MCB operates full-service banking centers in Manhattan and Boro Park, Brooklyn, within New York City; Great Neck on Long Island; Lakewood, New Jersey; and in South Florida, including Miami, and West Palm Beach. Metropolitan Commercial Bank is a New York State–chartered commercial bank, a member of the Federal Reserve System and the Federal Deposit Insurance Corporation, and an equal housing lender. The Bank’s parent company is Metropolitan Bank Holding Corp. (NYSE: MCB). For more information, please visit the Bank’s website at MCBankNY.com . Forward-Looking Statement Disclaimer This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include but are not limited to the Company’s future financial condition and capital ratios, results of operations and the Company’s outlook, business, share repurchases under the share repurchase program, dividend payments and statements related to the completion of the public offering of common stock and the anticipated use of proceeds from the public offering of common stock. Forward-looking statements are not historical facts. Such statements may be identified by the use of such words as “may,” “believe,” “expect,” “anticipate,” “plan,” “continue” or similar terminology. These statements relate to future events or our future financial performance and involve risks and uncertainties that are difficult to predict and are generally beyond our control and may cause our actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we caution you not to place undue reliance on these forward-looking statements. Factors which may cause our forward-looking statements to be materially inaccurate include, but are not limited to the following: the interest rate policies of the Federal Reserve and other regulatory bodies; an unexpected deterioration in the performance of our loan or securities portfolios; changes in liquidity, including the size and composition of our deposit portfolio and the percentage of uninsured deposits in the portfolio; unexpected increases in our expenses; different than anticipated growth and our ability to manage our growth; global pandemics, or localized epidemics, could adversely affect the Company’s financial condition and results of operations; potential recessionary conditions, including the related effects on our borrowers and on our financial condition and results of operations; an unanticipated loss of key personnel or existing clients, or an inability to attract key employees; increases in competitive pressures among financial institutions or from non-financial institutions which may result in unanticipated changes in our loan or deposit rates; unanticipated increases in FDIC insurance premiums or future assessments; legislative, tax or regulatory changes or actions, which may adversely affect the Company’s business; impacts related to or resulting from regional and community bank failures and stresses to regional banks; changes in deposit flows, funding sources or loan demand, which may adversely affect the Company’s business; changes in accounting principles, policies or guidelines may cause the Company’s financial condition or results of operation to be reported or perceived differently; general economic conditions, including unemployment rates, either nationally or locally in some or all of the areas in which the Company does business, or conditions in the securities markets or the banking industry being less favorable than currently anticipated; inflation, which may lead to higher operating costs; declines in real estate values in the Company’s market area, which may adversely affect our loan production; an unexpected adverse financial, regulatory, legal or bankruptcy event experienced by our non-bank financial service clients or critical technology service providers; system failures or cybersecurity breaches of our information technology infrastructure and/or confidential information or those of the Company’s third-party service providers; emerging issues related to the development and use of artificial intelligence that could give rise to legal or regulatory action, damage our reputation or otherwise materially harm our business or clients; failure to maintain current technologies or technological changes that may be more difficult or expensive to implement than anticipated, and failure to successfully implement future information technology enhancements; the costs, including the possible incurrence of fines, penalties, or other negative effects (including reputational harm) of any adverse judicial, administrative, or arbitral rulings or proceedings, regulatory enforcement actions, or other legal actions to which we or any of our subsidiaries are a party, and which may adversely affect our results; the current or anticipated impact of military conflict, terrorism or other geopolitical events; the successful implementation or consummation of new business initiatives, which may be more difficult or expensive than anticipated; the timely and efficient development of new products and services offered by the Company or its strategic partners, as well as risks (including reputational and litigation) attendant thereto, and the perceived overall value and acceptance of these products and services by clients; changes in consumer spending, borrowing or savings habits; the risks associated with adverse changes to credit quality; an unexpected failure to successfully manage our credit risk, nonperforming loan resolutions and the sufficiency of our allowance for credit losses; credit and other risks from borrower and depositor concentrations (e.g., by geographic area and by industry); difficulties associated with achieving or predicting expected future financial results; and the potential impact on the Company’s operations and clients resulting from natural or man-made disasters, wars, acts of terrorism, cyberattacks and pandemics, as well as those discussed under the heading “Risk Factors” in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q which have been filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended. Forward-looking statements speak only as of the date of this release. We do not undertake (and expressly disclaim) any obligation to update or revise any forward-looking statement, except as may be required by law. Consolidated Balance Sheet (unaudited)     Jun. 30,   Mar. 31,   Dec. 31,   Sept. 30,   Jun. 30, (in thousands)   2026   2026   2025   2025   2025 Assets                               Cash and due from banks   $ 10,253     $ 12,034     $ 12,086     $ 13,109     $ 13,577   Overnight deposits     229,011       660,359       381,501       372,827       138,876   Total cash and cash equivalents     239,264       672,393       393,587       385,936       152,453   Investment securities available-for-sale     667,778       649,719       578,932       552,441       551,029   Investment securities held-to-maturity     415,041       347,868       356,627       376,447       387,901   Equity investment securities, at fair value     5,646       5,625       5,609       5,548       5,276   Total securities     1,088,465       1,003,212       941,168       934,436       944,206   Other investments     27,759       20,725       20,632       27,330       27,297   Loans, net of deferred fees and unamortized costs     7,328,903       7,046,547       6,810,233       6,781,703       6,612,789   Allowance for credit losses     (62,012 )     (82,071 )     (97,081 )     (94,239 )     (74,071 ) Net loans     7,266,891       6,964,476       6,713,152       6,687,464       6,538,718   Other assets     236,304       183,318       187,177       199,264       191,175   Total assets   $ 8,858,683     $ 8,844,124     $ 8,255,716     $ 8,234,430     $ 7,853,849                                   Liabilities and Stockholders' Equity                               Deposits                               Non-interest-bearing demand deposits   $ 1,591,126     $ 1,539,553     $ 1,479,420     $ 1,382,345     $ 1,427,439   Interest-bearing deposits     6,140,356       6,200,166       5,897,758       5,690,414       5,363,867   Total deposits     7,731,482       7,739,719       7,377,178       7,072,759       6,791,306   Federal funds purchased     —       —       —       125,000       50,000   Federal Home Loan Bank of New York advances     —       —       —       150,000       150,000   Trust preferred securities     20,620       20,620       20,620       20,620       20,620   Secured and other borrowings     15,938       15,975       10,975       17,355       17,366   Other liabilities     122,477       119,471       103,831       116,656       101,589   Total liabilities     7,890,517       7,895,785       7,512,604       7,502,390       7,130,881                                   Common stock     136       136       113       113       113   Additional paid in capital     588,133       584,524       405,565       403,708       401,055   Retained earnings     495,034       479,177       450,639       423,338       417,782   Accumulated other comprehensive gain (loss), net of tax effect     (39,044 )     (39,233 )     (39,739 )     (41,852 )     (45,455 ) Treasury stock, at cost     (76,093 )     (76,265 )     (73,466 )     (53,267 )     (50,527 ) Total stockholders’ equity     968,166       948,339       743,112       732,040       722,968   Total liabilities and stockholders’ equity   $ 8,858,683     $ 8,844,124     $ 8,255,716     $ 8,234,430     $ 7,853,849   Consolidated Statement of Income (unaudited)     Three months ended   Six months ended (dollars in thousands, except per share data)   Jun. 30, 2026   Mar. 31, 2026   Jun. 30, 2025   Jun. 30, 2026   Jun. 30, 2025 Total interest income   $ 140,938   $ 134,932     $ 127,043   $ 275,870   $ 245,813 Total interest expense     50,490     49,023       53,396     99,513     105,214 Net interest income     90,448     85,909       73,647     176,357     140,599 Provision for credit losses     13,325     (2,300 )     6,378     11,025     10,884 Net interest income after provision for credit losses     77,123     88,209       67,269     165,332     129,715                                 Non-interest income                               Service charges on deposit accounts     2,229     2,274       2,131     4,503     4,304 Other income     333     307       492     640     1,957 Total non-interest income     2,562     2,581       2,623     5,143     6,261                                 Non-interest expense                               Compensation and benefits     25,362     24,148       20,255     49,510     41,994 Bank premises and equipment     3,472     2,729       2,513     6,201     4,976 Professional fees     4,615     3,229       3,583     7,844     8,569 Technology costs     4,704     4,196       3,653     8,900     5,873 Deposit related program fees     6,892     6,799       5,967     13,691     10,153 FDIC assessments     1,290     1,850       2,999     3,140     5,966 Other expenses     5,467     3,449       4,139     8,915     8,300 Total non-interest expense     51,802     46,400       43,109     98,201     85,831                                 Net income before income tax expense     27,883     44,390       26,783     72,274     50,145 Income tax expense     8,660     12,964       8,016     21,625     15,024 Net income (loss)   $ 19,223   $ 31,426     $ 18,767   $ 50,649   $ 35,121                                 Earnings per common share:                               Average common shares outstanding:                               Basic     12,381,794     10,674,698       10,564,275     11,413,075     10,886,120 Diluted     12,515,939     10,756,358       10,676,878     11,521,407     10,975,431 Basic earnings (loss)   $ 1.55   $ 2.94     $ 1.78   $ 4.44   $ 3.23 Diluted earnings (loss)   $ 1.54   $ 2.92     $ 1.76   $ 4.40   $ 3.20 Loan Production, Asset Quality & Regulatory Capital     Jun. 30,   Mar. 31,   Dec. 31,   Sept. 30,   Jun. 30,       2026   2026   2025   2025   2025   LOAN PRODUCTION (in millions)   $ 718.9     $ 428.3     $ 510.9   $ 514.2     $ 492.0                                       ASSET QUALITY (in thousands)                                 Non-performing loans:                                 Commercial real estate   $ 53,307     $ 68,635     $ 75,408   $ 70,122     $ 28,480     Commercial and industrial     11,262       —       8,989     8,989       8,989     One- to four- family     2,401       2,416       2,450     2,451       2,469     Consumer     —       —       37     —       —     Total non-performing loans   $ 66,970     $ 71,051     $ 86,884   $ 81,562     $ 39,938     Non-performing loans to total loans     0.91   %   1.01   %   1.28 %   1.20   %   0.60   % Allowance for credit losses   $ 62,012     $ 82,071     $ 97,081   $ 94,239     $ 74,071     Allowance for credit losses to total loans     0.85   %   1.16   %   1.43 %   1.39   %   1.12   % Charge-offs   $ (34,838 )   $ (12,455 )   $ —   $ (3,858 )   $ (112 )   Recoveries   $ 614     $ 14     $ 58   $ 72     $ 126     Net charge-offs/(recoveries) to average loans (annualized)     1.95   %   0.73   %   — %   0.22   %   —   %                                   REGULATORY CAPITAL                                 Tier 1 Leverage:                                 Metropolitan Bank Holding Corp.     11.3   %   11.6   %   9.5 %   9.8   %   10.0   % Metropolitan Commercial Bank     11.1   %   11.4   %   9.1 %   9.4   %   9.8   %                                   Common Equity Tier 1 Risk-Based (CET1):                                 Metropolitan Bank Holding Corp.     12.9   %   13.2   %   10.7 %   10.6   %   10.8   % Metropolitan Commercial Bank     12.9   %   13.1   %   10.5 %   10.4   %   10.9   %                                   Tier 1 Risk-Based:                                 Metropolitan Bank Holding Corp.     13.2   %   13.4   %   11.0 %   10.9   %   11.1   % Metropolitan Commercial Bank     12.9   %   13.1   %   10.5 %   10.4   %   10.9   %                                   Total Risk-Based:                                 Metropolitan Bank Holding Corp.     14.0   %   14.6   %   12.3 %   12.2   %   12.2   % Metropolitan Commercial Bank     13.7   %   14.3   %   11.7 %   11.7   %   12.0   % Performance Measures     Three months ended   Six months ended   (dollars in thousands, except per share data)   Jun. 30, 2026   Mar. 31, 2026   Jun. 30, 2025   Jun. 30, 2026   Jun. 30, 2025   Net income (loss) available to common shareholders   $ 19,223   $ 31,426   $ 18,767   $ 50,649   $ 35,121                                     Per common share:                                 Basic earnings (loss)   $ 1.55   $ 2.94   $ 1.78   $ 4.44   $ 3.23   Diluted earnings (loss)   $ 1.54   $ 2.92   $ 1.76   $ 4.40   $ 3.20   Common shares outstanding:                                 Period end     12,395,278     12,392,035     10,421,384     12,395,278     10,421,384   Average fully diluted     12,515,939     10,756,358     10,676,878     11,521,407     10,975,431   Return on: (1)                                 Average total assets     0.86 %   1.49 %   0.97 %   1.16 %   0.93 % Average equity     8.0 %   15.4 %   10.4 %   11.4 %   9.7 % Average tangible common equity (2), (3)     8.1 %   15.6 %   10.5 %   11.5 %   9.8 % Yield on average earning assets (1)     6.35 %   6.41 %   6.61 %   6.38 %   6.57 % Total cost of deposits (1)     2.57 %   2.60 %   3.02 %   2.58 %   3.05 % Net interest spread (1)     3.13 %   3.19 %   2.76 %   3.16 %   2.65 % Net interest margin (1)     4.08 %   4.08 %   3.83 %   4.08 %   3.76 % Net charge-offs as % of average loans (1)     1.95 %   0.73 %   — %   1.35 %   — % Efficiency ratio (4)     55.7 %   52.4 %   56.5 %   54.1 %   58.4 % _______________ (1)   Ratios are annualized. (2)   Determined by dividing net income by average tangible common equity. (3)   Non-GAAP financial measure. See Reconciliation of Non-GAAP Measures on page 13. (4)   Total non-interest expense divided by total revenues. Interest Margin Analysis     Three months ended       Jun. 30, 2026     Mar. 31, 2026     Jun. 30, 2025   (dollars in thousands)   Average Balance   Interest   Yield / Rate (1)     Average Balance   Interest   Yield / Rate (1)     Average Balance   Interest   Yield / Rate (1)   Assets:                                                       Interest-earning assets:                                                       Loans (2)   $ 7,023,237     $ 125,642   7.18 %   $ 6,926,983     $ 122,594   7.18 %   $ 6,486,667     $ 118,774   7.34 % Available-for-sale securities     727,655       5,984   3.30       651,928       4,982   3.10       607,363       3,884   2.57   Held-to-maturity securities     363,589       1,866   2.06       352,937       1,663   1.91       394,374       1,849   1.88   Equity investments     5,918       45   3.04       5,874       44   3.04       5,556       42   3.02   Overnight deposits     750,213       7,010   3.75       578,330       5,329   3.74       184,054       2,078   4.53   Other interest-earning assets     25,331       391   6.19       20,693       319   6.26       27,682       416   6.03   Total interest-earning assets     8,895,943       140,938   6.35       8,536,745       134,931   6.41       7,705,696       127,043   6.61   Non-interest-earning assets     155,960                   127,802                   138,469               Allowance for credit losses     (80,257 )                 (97,788 )                 (68,966 )             Total assets   $ 8,971,646                 $ 8,566,759                 $ 7,775,199               Liabilities and Stockholders' Equity:                                                       Interest-bearing liabilities:                                                       Money market and savings accounts   $ 6,110,436       48,800   3.20     $ 5,961,007       46,997   3.20     $ 5,125,850       48,454   3.79   Certificates of deposit     152,062       1,394   3.68       184,625       1,732   3.80       133,495       1,369   4.11   Total interest-bearing deposits     6,262,498       50,194   3.21       6,145,632       48,729   3.22       5,259,345       49,823   3.80   Borrowed funds     20,620       296   5.76       22,638       293   5.25       298,843       3,573   4.79   Total interest-bearing liabilities     6,283,118       50,490   3.22       6,168,270       49,022   3.22       5,558,188       53,396   3.85   Non-interest-bearing liabilities:                                                       Non-interest-bearing deposits     1,583,067                   1,459,199                   1,358,029               Other non-interest-bearing liabilities     140,438                   111,159                   135,008               Total liabilities     8,006,623                   7,738,628                   7,051,225               Stockholders' equity     965,023                   828,131                   723,974               Total liabilities and equity   $ 8,971,646                 $ 8,566,759                 $ 7,775,199               Net interest income         $ 90,448               $ 85,909               $ 73,647       Net interest rate spread (3)               3.13 %               3.19 %               2.76 % Net interest margin (4)               4.08 %               4.08 %               3.83 % Total cost of deposits (5)               2.57 %               2.60 %               3.02 % Total cost of funds (6)               2.57 %               2.61 %               3.10 % _______________ (1)   Ratios are annualized. (2)   Amount includes deferred loan fees and non-performing loans. (3)   Determined by subtracting the annualized average cost of total interest-bearing liabilities from the annualized average yield on total interest-earning assets. (4)   Determined by dividing annualized net interest income by total average interest-earning assets. (5)   Determined by dividing annualized interest expense on deposits by total average interest-bearing and non-interest-bearing deposits. (6)   Determined by dividing annualized interest expense by the sum of total average interest-bearing liabilities and total average non-interest-bearing deposits.     Six months ended       Jun. 30, 2026     Jun. 30, 2025   (dollars in thousands)   Average Balance   Interest   Yield / Rate (1)     Average Balance   Interest   Yield / Rate (1)   Assets:                                     Interest-earning assets:                                     Loans (2)   $ 6,975,376     $ 248,236   7.18 %   $ 6,345,274     $ 229,639   7.30 % Available-for-sale securities     690,000       10,967   3.21       592,357       7,299   2.48   Held-to-maturity securities     358,292       3,529   1.99       405,787       3,792   1.88   Equity investments     5,896       89   3.04       5,536       81   2.96   Overnight deposits     664,766       12,339   3.74       169,287       4,003   4.77   Other interest-earning assets     23,025       710   6.22       29,291       999   6.88   Total interest-earning assets     8,717,355       275,870   6.38       7,547,532       245,813   6.57   Non-interest-earning assets     138,963                   132,675               Allowance for credit losses     (88,974 )                 (66,787 )             Total assets   $ 8,767,344                 $ 7,613,420               Liabilities and Stockholders' Equity:                                     Interest-bearing liabilities:                                     Money market and savings accounts   $ 6,036,129     $ 95,798   3.20     $ 4,937,693     $ 94,298   3.85   Certificates of deposit     168,254       3,126   3.75       130,002       2,703   4.19   Total interest-bearing deposits     6,204,383       98,924   3.22       5,067,695       97,001   3.86   Borrowed funds     21,624       589   5.49       345,982       8,213   4.79   Total interest-bearing liabilities     6,226,007       99,513   3.22       5,413,677       105,214   3.92   Non-interest-bearing liabilities:                                     Non-interest-bearing deposits     1,521,475                   1,338,964               Other non-interest-bearing liabilities     122,933                   130,644               Total liabilities     7,870,415                   6,883,285               Stockholders' equity     896,929                   730,135               Total liabilities and equity   $ 8,767,344                 $ 7,613,420               Net interest income         $ 176,357               $ 140,599       Net interest rate spread (3)               3.16 %               2.65 % Net interest margin (4)               4.08 %               3.76 % Total cost of deposits (5)               2.58 %               3.05 % Total cost of funds (6)               2.59 %               3.14 % _______________ (1)   Ratios are annualized. (2)   Amount includes deferred loan fees and non-performing loans. (3)   Determined by subtracting the annualized average cost of total interest-bearing liabilities from the annualized average yield on total interest-earning assets. (4)   Determined by dividing annualized net interest income by total average interest-earning assets. (5)   Determined by dividing annualized interest expense on deposits by total average interest-bearing and non-interest-bearing deposits. (6)   Determined by dividing annualized interest expense by the sum of total average interest-bearing liabilities and total average non-interest-bearing deposits. Reconciliation of Non-GAAP Measures In addition to the results presented in accordance with Generally Accepted Accounting Principles (“GAAP”), this earnings release includes certain non-GAAP financial measures. Management believes these non-GAAP financial measures provide meaningful information to investors in understanding the Company’s operating performance and trends. These non-GAAP measures have inherent limitations and are not required to be uniformly applied and are not audited. They should not be considered in isolation or as a substitute for an analysis of results reported under GAAP. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies. Reconciliations of non-GAAP/adjusted financial measures disclosed in this earnings release to the comparable GAAP measures are provided in the following tables:   Quarterly Data Six months ended (dollars in thousands, Jun. 30, Mar. 31, Dec. 31, Sept. 30, Jun. 30, Jun. 30, Jun. 30, except per share data) 2026 2026 2025 2025 2025 2026 2025 Average assets $ 8,971,646 $ 8,566,759 $ 8,319,679 $ 7,964,712 $ 7,775,199 $ 8,767,344 $ 7,613,420 Less: average intangible assets   9,733   9,733   9,733   9,733   9,733   9,733   9,733 Average tangible assets (non-GAAP) $ 8,961,913 $ 8,557,026 $ 8,309,946 $ 7,954,979 $ 7,765,466 $ 8,757,611 $ 7,603,687                               Average common equity $ 965,023 $ 828,131 $ 735,722 $ 731,281 $ 723,974 $ 896,929 $ 730,135 Less: average intangible assets   9,733   9,733   9,733   9,733   9,733   9,733   9,733 Average tangible common equity (non-GAAP) $ 955,290 $ 818,398 $ 725,989 $ 721,548 $ 714,241 $ 887,196 $ 720,402                               Total assets $ 8,858,683 $ 8,844,124 $ 8,255,716 $ 8,234,430 $ 7,853,849 $ 8,858,683 $ 7,853,849 Less: intangible assets   9,733   9,733   9,733   9,733   9,733   9,733   9,733 Tangible assets (non-GAAP) $ 8,848,950 $ 8,834,391 $ 8,245,983 $ 8,224,697 $ 7,844,116 $ 8,848,950 $ 7,844,116                               Common equity $ 968,166 $ 948,339 $ 743,112 $ 732,040 $ 722,968 $ 968,166 $ 722,968 Less: intangible assets   9,733   9,733   9,733   9,733   9,733   9,733   9,733 Tangible common equity (book value) (non-GAAP) $ 958,433 $ 938,606 $ 733,379 $ 722,307 $ 713,235 $ 958,433 $ 713,235                               Common shares outstanding   12,395,278   12,392,035   10,088,617   10,382,218   10,421,384   12,395,278   10,421,384 Book value per share (GAAP) $ 78.11 $ 76.53 $ 73.66 $ 70.51 $ 69.37 $ 78.11 $ 69.37 Tangible book value per share (non-GAAP) (1) $ 77.32 $ 75.74 $ 72.69 $ 69.57 $ 68.44 $ 77.32 $ 68.44 _______________ (1)   Tangible book value divided by common shares outstanding at period-end. Explanatory Note Some amounts presented within this document may not recalculate due to rounding. View source version on businesswire.com: https://www.businesswire.com/news/home/20260721145341/en/

View stock analysis, news, and events for Metropolitan Bank Holding Corp.