8-K
Metropolitan Bank Holding Corp. (MCB)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): October 23, 2025
METROPOLITAN BANK HOLDING CORP.
(Exact Name of Registrant as Specified in Its Charter)
| | | |
|---|---|---|
| New York | 001-38282 | 13-4042724 |
| (State or Other Jurisdiction of Incorporation or Organization) | (Commission File No.) | (I.R.S. Employer Identification No.) |
| | | |
| 99 Park Avenue , New York , New York | | 10016 |
| (Address of Principal Executive Offices) | | (Zip Code) |
( 212 ) 659-0600
(Registrant’s Telephone Number, Including Area Code)
N/A
(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4c)
| | | |||
|---|---|---|---|---|
| Title of each class | | Trading Symbol(s) | | Name of each exchange on which registered |
| Common Stock, par value $0.01 per share | | MCB | | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02Results of Operations and Financial Condition
On October 23, 2025, Metropolitan Bank Holding Corp. (the “Company”), the holding company for Metropolitan Commercial Bank (the “Bank”), issued a press release announcing its financial results for the third quarter of 2025. The press release containing the financial results is attached hereto as Exhibit 99.1 and shall not be deemed “filed” for any purpose, nor shall the information or Exhibit 99.1 be deemed incorporated by reference in any filings under the Securities Act of 1933, as amended.
Item 7.01Regulation FD Disclosure
The Company has also made available on its website presentation materials containing additional information about the Company’s financial results for the third quarter of 2025 (the “Presentation Materials”). The Presentation Materials are furnished herewith as Exhibit 99.2 and is incorporated by reference in this Item 7.01.
The information provided in Item 7.01 of this report, including Exhibit 99.2, shall not be deemed “filed” for any purpose, nor shall the information or Exhibit 99.2 be deemed incorporated by reference in any filings under the Securities Act of 1933, as amended.
Item 9.01.Financial Statements and Exhibits
(d) Exhibits.
| Exhibit No. | Description |
|---|---|
| 99.1 | Press Release dated October 23, 2025 |
| 99.2 | Presentation Materials |
| 104 | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
METROPOLITAN BANK HOLDING CORP.
Dated: October 23, 2025By:/s/ Daniel F. Dougherty
Daniel F. Dougherty
Executive Vice President and
Chief Financial Officer
Exhibit 99.1
| Release: | 4:05 P.M. October 23, 2025 |
|---|
212-365-6721
IR@MCBankNY.com
Metropolitan Bank Holding Corp. Reports Third Quarter 2025 Results
Quarterly Net Interest Income Growth of 18.5% versus Prior Year Period
Increase in Credit Reserves Impacted Third Quarter Results
Financial Highlights
●Diluted earnings per share of $0.67 for the third quarter of 2025, compared to $1.76 per diluted common share for the prior linked quarter and $1.08 for the prior year period. Diluted earnings per share for the third quarter of 2025 was impacted by a $23.9 million provision for credit losses primarily driven by a $18.7 million provision for a single out of market CRE multi-family loan relationship and a $5.2 million provision related to changes in the outlook for certain macroeconomic variables, and loan growth.
●As a result of the loans associated with the aforementioned out of market CRE multi-family loan relationship, the ratio of non-performing loans to total loans was 1.20% at September 30, 2025, compared to 0.60% for the prior linked quarter and 0.53% for the prior year period.
●Net interest income for the third quarter of 2025 was $77.3 million, an increase of $3.7 million, or 5.0% compared to $73.6 million for the prior linked quarter and an increase of $12.1 million, or 18.5%, compared to the prior year period.
●The net interest margin for the third quarter of 2025 was 3.88%, an increase of 5 basis points compared to 3.83% for the prior linked quarter and an increase of 26 basis points compared to 3.62% for the prior year period.
●Total loans at September 30, 2025 were $6.8 billion, an increase of $168.9 million, or 2.6%, from June 30, 2025 and $884.6 million, or 15.0%, from September 30, 2024.
●Total deposits at September 30, 2025 were $7.1 billion, an increase of $281.5 million, or 4.1%, from June 30, 2025 and $802.9 million, or 12.8%, from September 30, 2024.
●The Company and Bank are “well capitalized” under all applicable regulatory guidelines, with total risk-based capital ratios of 12.2% and 11.8%, respectively, at September 30, 2025, well above regulatory minimums.
NEW YORK, October 23, 2025 ‒ Metropolitan Bank Holding Corp. (the “Company”) (NYSE: MCB), the holding company for Metropolitan Commercial Bank (the “Bank”), reported net income of $7.1 million, or $0.67 per diluted common share, for the third quarter of 2025 compared to $18.8 million, or $1.76 per diluted common share, for the second quarter of 2025, and $12.3 million, or $1.08 per diluted common share, for the third quarter of 2024. 1
Mark DeFazio, President and Chief Executive Officer, commented,
“I am pleased with our sustained balance sheet expansion which sets MCB up with strong earnings momentum going into 2026 and beyond. Our efficient core funding alongside of our loan growth continues to drive margin expansion. With our MBiM technology investment coming to completion in the first quarter of 2026 our operating leverage will be in line with prior performance, which is expected to contribute to strong EPS growth.
“This quarter we took prudent reserves against a CRE multi-family loan relationship. I am cautiously optimistic that we will complete the workout of one or more of these loans before year end or during the first quarter of next year.”
Balance Sheet
Total cash and cash equivalents were $385.9 million at September 30, 2025, an increase of $233.5 million, or 153.2%, from June 30, 2025, and an increase of $67.5 million, or 21.2%, from September 30, 2024. The increase from June 30, 2025 primarily reflects an increase of $281.5 million in deposits and a $75.0 million increase in wholesale funding, partially offset by an increase in the loan book of $168.9 million. The increase from September 30, 2024 primarily reflects an increase of $802.9 million in deposits and an increase of $125.0 million in wholesale funding, partially offset by an increase in the loan book of $884.6 million.
Total loans, net of deferred fees and unamortized costs, were $6.8 billion at September 30, 2025, an increase of $168.9 million, or 2.6%, from June 30, 2025, and an increase of $884.6 million, or 15.0%, from September 30, 2024. Loan production was $514.2 million for the third quarter of 2025 compared to $492.0 million for the prior linked quarter and $460.6 million for the prior year period. The increase in total loans from June 30, 2025 was due primarily to an increase of $220.9 million in commercial real estate (“CRE”) loans (including owner-occupied). The increase in total loans from September 30, 2024 was due primarily to an increase of $897.4 million in CRE loans (including owner-occupied).
Total deposits were $7.1 billion at September 30, 2025, an increase of $281.5 million, or 4.1%, from June 30, 2025, and an increase of $802.9 million, or 12.8%, from September 30, 2024. Deposit growth was broadly distributed across the Bank’s various deposit verticals.
Liquidity remains strong. At September 30, 2025, cash on deposit with the Federal Reserve Bank of New York and available secured funding capacity totaled $3.2 billion, which represented 190% of our estimated uninsured deposits. The Company and the Bank each met all the requirements to be considered “well capitalized” under applicable regulatory guidelines. Total non-owner-occupied CRE loans were 373.5% of total risk-based capital at September 30, 2025, compared to 371.9% and 353.3% at June 30, 2025 and September 30, 2024, respectively. The increased CRE concentration ratio from September 30, 2024 was affected by the Company’s common stock repurchases in 2025, which were funded by dividends paid from the Bank to the Company.
2
Income Statement
Financial Highlights
| | | | | | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | **** | Three months ended | | | Nine months ended | ||||||||||||
| | | Sept. 30, | | Jun. 30, | | Sept. 30, | | | Sept. 30, | | Sept. 30, | | |||||
| (dollars in thousands, except per share data) | | 2025 | | 2025 | | 2024 | | | 2025 | | 2024 | | |||||
| Total revenues^(1)^ | | $ | 79,838 | | $ | 76,270 | | $ | 71,518 | | | $ | 226,698 | | $ | 205,909 | |
| Net income (loss) | | $ | 7,119 | | $ | 18,767 | | $ | 12,266 | | | | 42,240 | | | 45,267 | |
| Diluted earnings (loss) per common share | | $ | 0.67 | | $ | 1.76 | | $ | 1.08 | | | 3.89 | | 4.04 | | ||
| Return on average assets^(2)^ | | 0.35 | % | 0.97 | % | 0.67 | % | | 0.73 | % | 0.83 | % | |||||
| Return on average equity^(2)^ | | 3.9 | % | 10.4 | % | 6.9 | % | | 7.7 | % | 8.8 | % | |||||
| Return on average tangible common equity^(2), (3), (4)^ | | 3.9 | % | 10.5 | % | 7.0 | % | | 7.8 | % | 9.0 | % |
| (1) | Total revenues equal net interest income plus non-interest income. |
|---|---|
| (2) | Ratios are annualized. |
| --- | --- |
| (3) | Non-GAAP financial measure. See Reconciliation of Non-GAAP Measures on page 12. |
| --- | --- |
| (4) | Net income divided by average tangible common equity. |
| --- | --- |
Net Interest Income
Net interest income for the third quarter of 2025 was $77.3 million compared to $73.6 million for the prior linked quarter and $65.2 million for the prior year period. The $3.7 million increase from the prior linked quarter was due primarily to an increase in the average balance of loans and a decrease in the cost of funds, partially offset by an increase in the average balance of interest-bearing deposits. The $12.1 million increase from the prior year period was due primarily to an increase in the average balance of loans 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 third quarter of 2025 was 3.88% compared to 3.83% and 3.62% for the prior linked quarter and prior year period, respectively. The Bank’s ability to expand its net interest margin is supported by rigorous loan and deposit pricing initiatives.
The total cost of funds for the third quarter of 2025 was 305 basis points compared to 310 basis points and 339 basis points for the prior linked quarter and prior year period, respectively. The decrease from the prior linked quarter primarily reflects changes in the deposit mix and hedging activities. The decrease from the prior year period primarily reflects the reduction in short-term interest rates.
Non-Interest Income
Non-interest income was $2.5 million for the third quarter of 2025, a decrease of $96,000 from the prior linked quarter and a decrease of $3.8 million from the prior year period. The decrease from the prior linked quarter was driven primarily by a decrease in service charges on deposit accounts of $84,000. The decrease from the prior year period was driven primarily by the absence of Banking-as-a-Service revenue.
Non-Interest Expense
Non-interest expense was $45.8 million for the third quarter of 2025, an increase of $2.7 million from the prior linked quarter and a decrease of $5.5 million from the prior year period. The increase from the prior linked quarter was primarily due to an increase of $1.6 million in technology costs, an increase of $1.4 million in compensation and benefits, and $892,000 in licensing fees, partially offset by a $1.0 million decrease in FDIC assessments. The $5.5 million decrease from the prior year period was due primarily to a $10.0 million decrease in regulatory fees related to 3
the pre-tax $10 million regulatory reserve recorded in the prior year period and a $1.2 million decrease in professional fees, partially offset by a $2.3 million increase in technology costs, a $1.8 million increase in compensation and benefits, and a $1.2 million increase in deposit program related fees.
Income Tax Expense
The effective tax rate for the third quarter of 2025 was 30.1% compared to 29.9% for the prior linked quarter and 30.2% for the prior year period.
Asset Quality
The ratio of non-performing loans to total loans was 1.20% at September 30, 2025 and 0.60% at June 30, 2025 and 0.53% at September 30, 2024. The increase in the ratio of non-performing loans to total loans is primarily attributable to the single out of market CRE multi-family loan relationship previously mentioned.
The allowance for credit losses was $94.2 million at September 30, 2025, an increase of $20.2 million from June 30, 2025 and an increase of $31.7 million from September 30, 2024. The increase from the prior linked quarter was due primarily to a $18.7 million provision for a single out of market CRE multi-family loan relationship and a $5.2 million provision related to changes in the outlook for certain macroeconomic variables, and loan growth.
Conference Call
The Company will conduct a conference call at 9:00 a.m. ET on Friday, October 24, 2025, to discuss the results. To access the event by telephone, please dial 800-245-3047 (US), 203-518-9765 (INTL), and provide conference ID: MCBQ325 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 Bank Holding Corp. (NYSE: MCB) is the parent company of Metropolitan Commercial Bank (the “Bank”), a New York City based full-service commercial bank. The Bank provides a broad range of business, commercial and personal banking products and services to individuals, small businesses, private and public middle-market and corporate enterprises and institutions, municipalities, and local government entities.
Metropolitan Commercial Bank was named one of Newsweek’s Best Regional Banks in 2024 and 2025. The Bank was ranked by Independent Community Bankers of America among the top ten successful loan producers for 2024 by loan category and asset size for commercial banks with more than $1 billion in assets. Kroll affirmed a BBB+ (investment grade) deposit rating on January 29, 2025. For the fourth time, MCB has earned a place in the Piper Sandler Bank Sm-All Stars Class of 2024.
The 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. For more information, please visit the Bank’s website at MCBankNY.com. 4
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 program, and dividend payments. 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; system failures or cybersecurity breaches of our information technology infrastructure and/or confidential information or those of the Company’s third-party service providers or those of our non-bank financial service clients for which we provide global payments infrastructure; 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 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. 5
Consolidated Balance Sheet (unaudited)
| | | | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | | Sept. 30, | | Jun. 30, | | Mar. 31, | | Dec. 31, | | Sept. 30, | |||||
| (in thousands) | **** | 2025 | | 2025 | | 2025 | | 2024 | | 2024 | |||||
| Assets | | | | | | | | | | | | | |||
| Cash and due from banks | | $ | 13,109 | | $ | 13,577 | | $ | 18,572 | | $ | 13,078 | | $ | 16,674 |
| Overnight deposits | | 372,827 | | 138,876 | | 177,891 | | | 187,190 | | | 301,804 | |||
| Total cash and cash equivalents | | 385,936 | | 152,453 | | 196,463 | | | 200,268 | | | 318,478 | |||
| Investment securities available-for-sale | | 552,441 | | 551,029 | | 523,542 | | | 482,085 | | | 510,966 | |||
| Investment securities held-to-maturity | | 376,447 | | 387,901 | | 398,973 | | | 428,557 | | | 438,445 | |||
| Equity investment securities, at fair value | | | 5,548 | | | 5,276 | | 5,221 | | | 5,109 | | | 5,213 | |
| Total securities | | 934,436 | | 944,206 | | 927,736 | | | 915,751 | | | 954,624 | |||
| Other investments | | 27,330 | | 27,297 | | 27,062 | | | 30,636 | | | 26,586 | |||
| Loans, net of deferred fees and unamortized costs | | 6,781,703 | | 6,612,789 | | 6,342,122 | | | 6,034,076 | | | 5,897,119 | |||
| Allowance for credit losses | | (94,239) | | (74,071) | | (67,803) | | | (63,273) | | | (62,493) | |||
| Net loans | | 6,687,464 | | 6,538,718 | | 6,274,319 | | | 5,970,803 | | | 5,834,626 | |||
| Receivables from global payments business, net | | | — | | — | | — | | | — | | | 96,048 | ||
| Other assets | | | 199,264 | | | 191,175 | | | 190,718 | | | 183,291 | | | 172,996 |
| Total assets | | $ | 8,234,430 | | $ | 7,853,849 | | $ | 7,616,298 | | $ | 7,300,749 | | $ | 7,403,358 |
| | | | | | | | | | | | | | | | |
| Liabilities and Stockholders' Equity | | **** | | | | | | | | | | | | ||
| Deposits | | | | | | | | | | | |||||
| Non-interest-bearing demand deposits | | $ | 1,382,345 | | $ | 1,427,439 | | $ | 1,384,524 | | $ | 1,334,054 | | $ | 1,780,305 |
| Interest-bearing deposits | | 5,690,414 | | 5,363,867 | | 5,064,768 | | | 4,648,919 | | | 4,489,602 | |||
| Total deposits | | 7,072,759 | | 6,791,306 | | 6,449,292 | | | 5,982,973 | | | 6,269,907 | |||
| Federal funds purchased | | | 125,000 | | | 50,000 | | | 125,000 | | | 210,000 | | | — |
| Federal Home Loan Bank of New York advances | | | 150,000 | | | 150,000 | | | 160,000 | | | 240,000 | | | 150,000 |
| Trust preferred securities | | 20,620 | | 20,620 | | 20,620 | | | 20,620 | | | 20,620 | |||
| Secured and other borrowings | | | 17,355 | | | 17,366 | | | 17,403 | | | 7,441 | | | 107,478 |
| Prepaid third-party debit cardholder balances | | — | | — | | — | | | — | | | 21,970 | |||
| Other liabilities | | | 116,656 | | | 101,589 | | | 106,137 | | | 109,888 | | | 118,192 |
| Total liabilities | | 7,502,390 | | 7,130,881 | | 6,878,452 | | | 6,570,922 | | | 6,688,167 | |||
| | | | | | | | | | | | | | | | |
| Common stock | | 113 | | 113 | | 113 | | | 112 | | | 112 | |||
| Additional paid in capital | | 403,708 | | 401,055 | | 398,823 | | | 400,188 | | | 397,963 | |||
| Retained earnings | | 423,338 | | 417,782 | | 399,015 | | | 382,661 | | | 361,243 | |||
| Accumulated other comprehensive gain (loss), net of tax effect | | (41,852) | | (45,455) | | (47,170) | | | (53,134) | | | (44,127) | |||
| Treasury stock, at cost | | | (53,267) | | | (50,527) | | | (12,935) | | | — | | | — |
| Total stockholders’ equity | | 732,040 | | 722,968 | | 737,846 | | | 729,827 | | | 715,191 | |||
| Total liabilities and stockholders’ equity | | $ | 8,234,430 | | $ | 7,853,849 | | $ | 7,616,298 | | $ | 7,300,749 | | $ | 7,403,358 |
6
Consolidated Statement of Income (unaudited)
| | | | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | **** | Three months ended | | Nine months ended | |||||||||||
| | | Sept. 30, | | Jun. 30, | | Sept. 30, | | Sept. 30, | | Sept. 30, | |||||
| (dollars in thousands, except per share data) | **** | 2025 | | 2025 | | 2024 | **** | 2025 | | 2024 | |||||
| Total interest income | | $ | 132,000 | | $ | 127,043 | | $ | 120,454 | | $ | 377,813 | | $ | 348,550 |
| Total interest expense | | 54,689 | | 53,396 | | 55,221 | | 159,903 | | 162,069 | |||||
| Net interest income | | 77,311 | | 73,647 | | 65,233 | | 217,910 | | 186,481 | |||||
| Provision for credit losses | | 23,862 | | 6,378 | | 2,691 | | 34,746 | | 4,757 | |||||
| Net interest income after provision for credit losses | | 53,449 | | 67,269 | | 62,542 | | 183,164 | | 181,724 | |||||
| | | | | | | ||||||||||
| Non-interest income | | | | | | ||||||||||
| Service charges on deposit accounts | | 2,047 | | 2,131 | | 2,135 | | 6,351 | | 6,092 | |||||
| Global Payments Group revenue | | — | | — | | 3,500 | | — | | 11,255 | |||||
| Other income | | | 480 | | | 492 | | | 650 | | | 2,437 | | | 2,081 |
| Total non-interest income | | 2,527 | | 2,623 | | 6,285 | | 8,788 | | 19,428 | |||||
| | | | | | | ||||||||||
| Non-interest expense | | | | | | ||||||||||
| Compensation and benefits | | 21,674 | | 20,255 | | 19,885 | | 63,668 | | 58,244 | |||||
| Bank premises and equipment | | 2,664 | | 2,513 | | 2,471 | | 7,640 | | 7,136 | |||||
| Professional fees | | 3,506 | | 3,583 | | 4,745 | | 12,075 | | 17,633 | |||||
| Technology costs | | 5,297 | | 3,653 | | 2,969 | | 11,170 | | 9,023 | |||||
| Licensing fees | | | 4,354 | | | 3,462 | | | 3,411 | | | 10,290 | | | 9,867 |
| FDIC assessments | | | 1,972 | | | 2,999 | | | 2,950 | | | 7,938 | | | 8,800 |
| Regulatory settlement reserve | | | — | | | — | | | 10,000 | | | — | | | 10,000 |
| Other expenses | | 6,327 | | 6,644 | | 4,826 | | 18,844 | | 14,711 | |||||
| Total non-interest expense | | 45,794 | | 43,109 | | 51,257 | | 131,625 | | 135,414 | |||||
| | | | | | | ||||||||||
| Net income before income tax expense | | 10,182 | | 26,783 | | 17,570 | | 60,327 | | 65,738 | |||||
| Income tax expense | | 3,063 | | 8,016 | | 5,304 | | 18,087 | | 20,470 | |||||
| Net income (loss) | | $ | 7,119 | | $ | 18,767 | | $ | 12,266 | | $ | 42,240 | | $ | 45,268 |
| | | | | | | | |||||||||
| Earnings per common share: | | | | | | | | | |||||||
| Average common shares outstanding: | | | | | | | | | | | | | | | |
| Basic | | | 10,398,255 | | | 10,564,275 | | | 11,193,063 | | | 10,722,311 | | | 11,173,214 |
| Diluted | | | 10,587,402 | | | 10,676,878 | | | 11,312,773 | | | 10,846,871 | | | 11,208,471 |
| Basic earnings (loss) | | $ | 0.68 | | $ | 1.78 | | $ | 1.10 | | $ | 3.94 | | $ | 4.05 |
| Diluted earnings (loss) | | $ | 0.67 | | $ | 1.76 | | $ | 1.08 | | $ | 3.89 | | $ | 4.04 |
7
Loan Production, Asset Quality & Regulatory Capital
| | | | | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | **** | Sept. 30, | | Jun. 30, | | Mar. 31, | | Dec. 31, | | Sept. 30, | | |||||
| | | 2025 | | 2025 | | 2025 | | 2024 | **** | 2024 | | |||||
| LOAN PRODUCTION (in millions) | | $ | 514.2 | | $ | 492.0 | | $ | 409.8 | | $ | 309.0 | | $ | 460.6 | |
| | | | | | | | | | | | | | | | | |
| ASSET QUALITY (in thousands) | | | | | | | | | | | | | | | | |
| Non-performing loans: | | | | | | | | | | | | | | | | |
| Commercial real estate | | $ | 69,285 | | $ | 28,480 | | $ | 25,087 | | $ | 25,087 | | $ | 24,000 | |
| Commercial and industrial | | | 8,989 | | | 8,989 | | | 8,989 | | | 6,989 | | | 6,989 | |
| One- to four- family | | | 836 | | | 2,469 | | | 446 | | | 452 | | | — | |
| Consumer | | | 2,451 | | | — | | | 22 | | | 72 | | | — | |
| Total non-performing loans | | $ | 81,561 | | $ | 39,938 | | $ | 34,544 | | $ | 32,600 | | $ | 30,989 | |
| Non-performing loans to total loans | | 1.20 | % | 0.60 | % | 0.54 | % | 0.54 | % | 0.53 | % | |||||
| Allowance for credit losses | | $ | 94,239 | | $ | 74,071 | | $ | 67,803 | | $ | 63,273 | | $ | 62,493 | |
| Allowance for credit losses to total loans | | 1.39 | % | 1.12 | % | 1.07 | % | 1.05 | % | 1.06 | % | |||||
| Charge-offs | | $ | (3,858) | | $ | (112) | | $ | (118) | | $ | (106) | | $ | (122) | |
| Recoveries | | $ | 72 | | $ | 126 | | $ | 180 | | $ | 120 | | $ | 2 | |
| Net charge-offs/(recoveries) to average loans (annualized) | | | 0.22 | % | | — | % | | — | % | | — | % | | 0.01 | % |
| | | | | | | | | | | | | | | | | |
| REGULATORY CAPITAL | | | | | | | ||||||||||
| Tier 1 Leverage: | | | | | | | ||||||||||
| Metropolitan Bank Holding Corp. | | 9.8 | % | 10.0 | % | 10.7 | % | 10.8 | % | 10.6 | % | |||||
| Metropolitan Commercial Bank | | 9.4 | % | 9.8 | % | 10.1 | % | 10.6 | % | 10.3 | % | |||||
| | | | | | | | | | | | | | | | | |
| Common Equity Tier 1 Risk-Based (CET1): | | | | | | | ||||||||||
| Metropolitan Bank Holding Corp. | | 10.6 | % | 10.8 | % | 11.4 | % | 11.9 | % | 11.9 | % | |||||
| Metropolitan Commercial Bank | | 10.4 | % | 10.9 | % | 11.0 | % | 12.0 | % | 11.9 | % | |||||
| | | | | | | | | | | | | | | | | |
| Tier 1 Risk-Based: | | | | | | | ||||||||||
| Metropolitan Bank Holding Corp. | | 10.9 | % | 11.1 | % | 11.7 | % | 12.3 | % | 12.2 | % | |||||
| Metropolitan Commercial Bank | | 10.4 | % | 10.9 | % | 11.0 | % | 12.0 | % | 11.9 | % | |||||
| | | | | | | | | | | | | | | | | |
| Total Risk-Based: | | | | | | | ||||||||||
| Metropolitan Bank Holding Corp. | | 12.2 | % | 12.2 | % | 12.8 | % | 13.3 | % | 13.2 | % | |||||
| Metropolitan Commercial Bank | | 11.8 | % | 12.0 | % | 12.1 | % | 13.0 | % | 12.9 | % |
8
Performance Measures
| | | | | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | | Three months ended | | Nine months ended | **** | |||||||||||
| | | Sept. 30, | | Jun. 30, | | Sept. 30, | | Sept. 30, | | Sept. 30, | | |||||
| (dollars in thousands, except per share data) | **** | 2025 | | 2025 | | 2024 | **** | 2025 | | 2024 | **** | |||||
| Net income per consolidated statements of income | | $ | 7,119 | | $ | 18,767 | | $ | 12,266 | | $ | 42,241 | | $ | 45,268 | |
| Less: Earnings allocated to participating securities | | | — | | | — | | | — | | | — | | | — | |
| Net income (loss) available to common shareholders | | $ | 7,119 | | $ | 18,767 | | $ | 12,266 | | $ | 42,241 | | $ | 45,268 | |
| | | | | | | | | | | | | | | | | |
| Per common share: | | | | | | | ||||||||||
| Basic earnings (loss) | | $ | 0.68 | | $ | 1.78 | | $ | 1.10 | | $ | 3.94 | | $ | 4.05 | |
| Diluted earnings (loss) | | $ | 0.67 | | $ | 1.76 | | $ | 1.08 | | $ | 3.89 | | $ | 4.04 | |
| Common shares outstanding: | | | | | | | ||||||||||
| Period end | | 10,382,218 | | 10,421,384 | | 11,194,411 | | 10,382,218 | | 11,194,411 | | |||||
| Average fully diluted | | 10,587,402 | | 10,676,878 | | 11,312,773 | | 10,846,871 | | 11,208,471 | | |||||
| Return on:^(1)^ | | | | | | | ||||||||||
| Average total assets | | 0.35 | % | 0.97 | % | 0.67 | % | 0.73 | % | 0.83 | % | |||||
| Average equity | | | 3.9 | % | | 10.4 | % | | 6.9 | % | | 7.7 | % | | 8.8 | % |
| Average tangible common equity^(2), (3)^ | | | 3.9 | % | | 10.5 | % | | 7.0 | % | | 7.8 | % | | 9.0 | % |
| Yield on average earning assets^(1)^ | | 6.62 | % | 6.61 | % | 6.68 | % | 6.59 | % | 6.52 | % | |||||
| Total cost of deposits^(1)^ | | | 2.98 | % | | 3.02 | % | | 3.32 | % | | 3.03 | % | | 3.25 | % |
| Net interest spread^(1)^ | | 2.85 | % | 2.76 | % | 1.93 | % | 2.72 | % | 1.82 | % | |||||
| Net interest margin^(1)^ | | 3.88 | % | 3.83 | % | 3.62 | % | 3.80 | % | 3.49 | % | |||||
| Net charge-offs as % of average loans^(1)^ | | 0.22 | % | — | % | 0.01 | % | 0.08 | % | — | % | |||||
| Efficiency ratio^(4)^ | | 57.4 | % | 56.5 | % | 71.7 | % | 58.1 | % | 65.8 | % |
(1)Ratios are annualized.
(2)Net income divided by average tangible common equity.
(3)Non-GAAP financial measure. See Reconciliation of Non-GAAP Measures on page 12.
(4)Total non-interest expense divided by total revenues. 9
Interest Margin Analysis
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | | Three months ended | | ||||||||||||||||||||||||
| | | Sept. 30, 2025 | | | Jun. 30, 2025 | | | Sept. 30, 2024 | | ||||||||||||||||||
| | | Average | | | | | Yield / | | | Average | | | | | Yield / | | | Average | | | | | Yield / | | |||
| (dollars in thousands) | | Balance | | Interest | | Rate ^(1)^ | | | Balance | | Interest | | Rate ^(1)^ | | | Balance | | Interest | | Rate ^(1)^ | | ||||||
| Assets: | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Interest-earning assets: | | | | | | | | | | | | | |||||||||||||||
| Loans ^(2)^ | | $ | 6,690,695 | | $ | 123,521 | 7.32 | % | | $ | 6,486,667 | | $ | 118,774 | 7.34 | % | | $ | 5,889,298 | | $ | 111,286 | 7.52 | % | |||
| Available-for-sale securities | | 626,434 | | 4,224 | 2.68 | | | 607,363 | | 3,884 | 2.57 | | | 581,529 | | 3,350 | 2.29 | | |||||||||
| Held-to-maturity securities | | 383,238 | | 1,780 | 1.84 | | | 394,374 | | 1,849 | 1.88 | | | 444,842 | | 2,061 | 1.84 | | |||||||||
| Equity investments | | | 5,751 | | | 43 | | 2.94 | | | | 5,556 | | | 42 | 3.02 | | | | 3,164 | | | 23 | | 2.89 | | |
| Overnight deposits | | 177,016 | | 1,995 | 4.47 | | | 184,054 | | 2,078 | 4.53 | | | 231,946 | | 3,223 | 5.53 | | |||||||||
| Other interest-earning assets | | 27,564 | | 437 | 6.29 | | | 27,682 | | 416 | 6.03 | | | 26,584 | | 511 | 7.65 | | |||||||||
| Total interest-earning assets | | 7,910,698 | | 132,000 | 6.62 | | | 7,705,696 | | 127,043 | 6.61 | | | 7,177,363 | | 120,454 | 6.68 | | |||||||||
| Non-interest-earning assets | | 128,891 | | | | 138,469 | | | | 180,748 | | | |||||||||||||||
| Allowance for credit losses | | (74,877) | | | | | (68,966) | | | | (60,608) | | | ||||||||||||||
| Total assets | | $ | 7,964,712 | | | | $ | 7,775,199 | | | | $ | 7,297,503 | | | ||||||||||||
| Liabilities and Stockholders' Equity: | | **** | **** | | | | **** | | | | | | | | | | | ||||||||||
| Interest-bearing liabilities: | | | | | | | | | | | | | | | |||||||||||||
| Money market and savings accounts | | $ | 5,340,340 | | | 49,856 | 3.70 | | | $ | 5,125,850 | | | 48,454 | 3.79 | | | $ | 4,314,237 | | | 51,266 | 4.73 | | |||
| Certificates of deposit | | 126,600 | | 1,321 | 4.14 | | | 133,495 | | 1,369 | 4.11 | | | 41,028 | | 471 | 4.57 | | |||||||||
| Total interest-bearing deposits | | 5,466,940 | | 51,177 | 3.71 | | | 5,259,345 | | 49,823 | 3.80 | | | 4,355,265 | | 51,737 | 4.73 | | |||||||||
| Borrowed funds | | 289,518 | | 3,512 | 4.81 | | | 298,843 | | 3,573 | 4.79 | | | 270,633 | | 3,484 | 5.12 | | |||||||||
| Total interest-bearing liabilities | | 5,756,457 | | 54,689 | 3.77 | | | 5,558,188 | | 53,396 | 3.85 | | | 4,625,898 | | 55,221 | 4.75 | | |||||||||
| Non-interest-bearing liabilities: | | | | | | | | | | ||||||||||||||||||
| Non-interest-bearing deposits | | 1,354,163 | | | | 1,358,029 | | | | 1,851,497 | | | |||||||||||||||
| Other non-interest-bearing liabilities | | 122,811 | | | | 135,008 | | | | 113,666 | | | |||||||||||||||
| Total liabilities | | 7,233,431 | | | | 7,051,225 | | | | 6,591,061 | | | |||||||||||||||
| Stockholders' equity | | 731,281 | | | | 723,974 | | | | | | | | 706,442 | | | | | | | |||||||
| Total liabilities and equity | | $ | 7,964,712 | | | | $ | 7,775,199 | | | | $ | 7,297,503 | | | ||||||||||||
| Net interest income | | | $ | 77,311 | | | | | $ | 73,647 | | | | | $ | 65,233 | | | |||||||||
| Net interest rate spread ^(3)^ | | | | 2.85 | % | | | | | | | 2.76 | % | | | | | | | 1.93 | % | ||||||
| Net interest margin ^(4)^ | | | 3.88 | % | | | 3.83 | % | | | 3.62 | % | |||||||||||||||
| Total cost of deposits ^(5)^ | | | | | | | | 2.98 | % | | | | | | | | 3.02 | % | | | | | | | | 3.32 | % |
| Total cost of funds ^(6)^ | | | | | | | | 3.05 | % | | | | | | | | 3.10 | % | | | | 3.39 | % |
| (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. |
| --- | --- |
10
| | | | | | | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | | Nine months ended | | |||||||||||||||
| | | Sept. 30, 2025 | | | Sept. 30, 2024 | **** | ||||||||||||
| | | Average | | | | | Yield / | | | Average | | | | | Yield / | **** | ||
| (dollars in thousands) | | Balance | | Interest | | Rate ^(1)^ | | | Balance | | Interest | | Rate ^(1)^ | **** | ||||
| Assets: | | | | | | | | | | | | | | | | | | |
| Interest-earning assets: | | | | | | | ||||||||||||
| Loans ^(2)^ | | $ | 6,461,679 | | $ | 353,160 | 7.31 | % | | $ | 5,780,539 | | $ | 318,262 | 7.35 | % | ||
| Available-for-sale securities | | 603,841 | | 11,523 | 2.55 | | | 578,891 | | | 9,660 | 2.23 | | |||||
| Held-to-maturity securities | | 398,188 | | 5,572 | 1.87 | | | 455,358 | | | 6,357 | 1.86 | | |||||
| Equity investments | | | 5,608 | | | 124 | | 2.95 | | | | 2,672 | | | 54 | 2.67 | | |
| Overnight deposits | | 171,892 | | 5,998 | 4.67 | | | 299,455 | | | 12,544 | 5.60 | | |||||
| Other interest-earning assets | | 28,709 | | 1,436 | 6.69 | | | 29,095 | | | 1,673 | 7.68 | | |||||
| Total interest-earning assets | | 7,669,917 | | 377,813 | 6.59 | | | 7,146,010 | | 348,550 | 6.52 | | ||||||
| Non-interest-earning assets | | 133,116 | | | | 182,738 | | | ||||||||||
| Allowance for credit losses | | (69,513) | | | | (59,326) | | | ||||||||||
| Total assets | | $ | 7,733,520 | | | | $ | 7,269,422 | | | ||||||||
| Liabilities and Stockholders' Equity: | | **** | **** | | | | **** | | | |||||||||
| Interest-bearing liabilities: | | | | | | | ||||||||||||
| Money market and savings accounts | | $ | 5,073,383 | | $ | 144,154 | 3.80 | | | $ | 4,243,887 | | $ | 148,114 | 4.66 | | ||
| Certificates of deposit | | 128,856 | | 4,024 | 4.18 | | | 37,472 | | | 1,064 | 3.79 | | |||||
| Total interest-bearing deposits | | 5,202,239 | | 148,178 | 3.81 | | | 4,281,359 | | 149,178 | 4.65 | | ||||||
| Borrowed funds | | 326,954 | | 11,725 | 4.79 | | | 331,486 | | 12,891 | 5.19 | | ||||||
| Total interest-bearing liabilities | | 5,529,193 | | 159,903 | 3.87 | | | 4,612,845 | | 162,069 | 4.69 | | ||||||
| Non-interest-bearing liabilities: | | | | | | | ||||||||||||
| Non-interest-bearing deposits | | 1,344,086 | | | | 1,856,061 | | | ||||||||||
| Other non-interest-bearing liabilities | | 128,004 | | | | 115,199 | | | ||||||||||
| Total liabilities | | 7,001,283 | | | | | 6,584,105 | | | |||||||||
| Stockholders' equity | | 732,237 | | | | 685,317 | | | ||||||||||
| Total liabilities and equity | | $ | 7,733,520 | | | | $ | 7,269,422 | | | ||||||||
| Net interest income | | | $ | 217,910 | | | | $ | 186,481 | | ||||||||
| Net interest rate spread ^(3)^ | | | 2.72 | % | | | 1.82 | % | ||||||||||
| Net interest margin ^(4)^ | | | 3.80 | % | | | 3.49 | % | ||||||||||
| Total cost of deposits ^(5)^ | | | | | | | | 3.03 | % | | | | | | | | 3.25 | % |
| Total cost of funds ^(6)^ | | | 3.11 | % | | | 3.35 | % |
| (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. |
| --- | --- |
11
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 | | | Nine months ended | | ||||||||||||||||||||||
| (dollars in thousands, | | Sept. 30, | | | Jun. 30, | | | Mar. 31, | | | Dec. 31, | | | Sept. 30, | | | Sept. 30, | | | Sept. 30, | | |||||||
| except per share data) | | 2025 | | | 2025 | | | 2025 | | | 2024 | | | 2024 | | | 2025 | | | 2024 | | |||||||
| Average assets | | $ | 7,964,712 | | | $ | 7,775,199 | | | $ | 7,451,703 | | | $ | 7,363,252 | | | $ | 7,297,503 | | | $ | 7,733,520 | | | $ | 7,269,422 | |
| Less: average intangible assets | | | 9,733 | | | | 9,733 | | | | 9,733 | | | | 9,733 | | | | 9,733 | | | | 9,733 | | | | 9,733 | |
| Average tangible assets (non-GAAP) | | $ | 7,954,979 | | | $ | 7,765,466 | | | $ | 7,441,970 | | | $ | 7,353,519 | | | $ | 7,287,770 | | | $ | 7,723,787 | | | $ | 7,259,689 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Average common equity | | $ | 731,281 | | | $ | 723,974 | | | $ | 738,224 | | | $ | 721,506 | | | $ | 706,442 | | | $ | 732,237 | | | $ | 685,317 | |
| Less: average intangible assets | | 9,733 | | | 9,733 | | | 9,733 | | | 9,733 | | | 9,733 | | | 9,733 | | | 9,733 | | |||||||
| Average tangible common equity (non-GAAP) | | $ | 721,548 | | | $ | 714,241 | | | $ | 728,491 | | | $ | 711,773 | | | $ | 696,709 | | | $ | 722,504 | | | $ | 675,584 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Total assets | | $ | 8,234,430 | | | $ | 7,853,849 | | | $ | 7,616,298 | | | $ | 7,300,749 | | | $ | 7,403,358 | | | $ | 8,234,430 | | | $ | 7,403,358 | |
| Less: intangible assets | | | 9,733 | | | | 9,733 | | | | 9,733 | | | | 9,733 | | | | 9,733 | | | | 9,733 | | | | 9,733 | |
| Tangible assets (non-GAAP) | | $ | 8,224,697 | | | $ | 7,844,116 | | | $ | 7,606,565 | | | $ | 7,291,016 | | | $ | 7,393,625 | | | $ | 8,224,697 | | | $ | 7,393,625 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Common equity | | $ | 732,040 | | | $ | 722,968 | | | $ | 737,846 | | | $ | 729,827 | | | $ | 715,191 | | | $ | 732,040 | | | $ | 715,191 | |
| Less: intangible assets | | 9,733 | | | 9,733 | | | 9,733 | | | 9,733 | | | 9,733 | | | 9,733 | | | 9,733 | | |||||||
| Tangible common equity (book value) (non-GAAP) | | $ | 722,307 | | | $ | 713,235 | | | $ | 728,113 | | | $ | 720,094 | | | $ | 705,458 | | | $ | 722,307 | | | $ | 705,458 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Common shares outstanding | | | 10,382,218 | | | | 10,421,384 | | | | 11,066,234 | | | | 11,197,625 | | | | 11,194,411 | | | | 10,382,218 | | | | 11,194,411 | |
| Book value per share (GAAP) | | $ | 70.51 | | | $ | 69.37 | | | $ | 66.68 | | | $ | 65.18 | | | $ | 63.89 | | | $ | 70.51 | | | $ | 63.89 | |
| Tangible book value per share (non-GAAP) ^(1)^ | | $ | 69.57 | | | $ | 68.44 | | | $ | 65.80 | | | $ | 64.31 | | | $ | 63.02 | | | $ | 69.57 | | | $ | 63.02 | |
| (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. 12
Exhibit 99.2
| 3Q 2025 Investor Presentation | ||||
|---|---|---|---|---|
| Contents<br>1<br>Page<br>Disclosure 2<br>Performance Metrics 3<br>Differentiating Factors 7<br>Loans and Deposits 12<br>Modern Banking in Motion Digital Transformation 21<br>Selected Financial Information and Guidance 24 | ||||
| --- | ||||
| Disclosure<br>2<br>This presentation contains “forward-looking<br>statements” within the meaning of the Private Securities<br>Litigation Reform Act of 1995. Examples of forward-looking statements include but are not limited to the<br>Company’s future financial condition and capital ratios,<br>results of operations and the Company’s outlook ,<br>business, share repurchases under the program, and<br>dividend payments. Forward-looking statements are<br>not historical facts. Such statements may be identified<br>by the use of such words as “may,” “believe,” “expect,”<br>“anticipate,” “plan,” “continue” or similar terminology.<br>These statements relate to future events or our future<br>financial performance and involve risks and<br>uncertainties that are difficult to predict and are<br>generally beyond our control and may cause our actual<br>results, levels of activity, performance or achievements<br>to differ materially from those expressed or implied by<br>these forward-looking statements. Although we believe<br>that the expectations reflected in the forward-looking<br>statements are reasonable, we caution you not to place<br>undue reliance on these forward-looking statements.<br>Factors which may cause our forward-looking<br>statements to be materially inaccurate include, but are<br>not limited to the following: a failure to successfully<br>manage our credit risk and the sufficiency of our<br>allowance for credit losses; changes in loan demand<br>and declines in real estate values in the Company’s<br>market area, which may adversely affect our loan<br>production; borrower and depositor concentrations<br>(e.g., by geographic area and by industry); the interest<br>rate policies of the Federal Reserve and other regulatory<br>bodies; general economic conditions, including<br>unemployment rates, and potential recessionary and<br>inflationary indicators, either nationally or locally,<br>including the related effects on our borrowers and other<br>clients, such as adverse changes to credit quality, and<br>on our financial condition and results of operations; an<br>unanticipated loss of key personnel or existing clients,<br>or an inability to attract key employees; system failures<br>or cybersecurity breaches of our information technology<br>infrastructure and/or confidential information or those<br>of the Company’s third-party service providers or those<br>of our non-bank financial service clients for which we<br>provide global payments infrastructure; failure to<br>maintain current technologies or technological changes<br>and enhancements that may be more difficult or<br>expensive to implement than anticipated, and failure to<br>successfully implement future information technology<br>enhancements; emerging issues related to the<br>development and use of artificial intelligence that could<br>give rise to legal or regulatory action, damage our<br>reputation or otherwise materially harm our business or<br>clients; the timely and efficient development of new<br>products and services offered by the Company, as well<br>as risks (including reputational and litigation) attendant<br>thereto, and the perceived overall value and acceptance<br>of these products and services by clients; the successful<br>implementation or consummation of new business<br>initiatives, which may be more difficult or expensive<br>than anticipated; an unexpected adverse financial,<br>regulatory, legal or bankruptcy event experienced by<br>our financial service clients; unexpected increases in our<br>expenses; changes in liquidity, including funding<br>sources, deposit flows and the size and composition of<br>our deposit portfolio, and the percentage of uninsured<br>deposits in the portfolio; an unexpected deterioration in<br>the performance of our loan or securities portfolios and<br>our inability to absorb the amount of actual losses<br>inherent in the portfolio; difficulties associated with<br>achieving or predicting expected future financial results;<br>different than anticipated growth and our ability to<br>manage our growth; increases in competitive pressures<br>among financial institutions or from non-financial<br>institutions which may result in unanticipated changes<br>in our loan or deposit rates; unexpected adverse impact<br>of future acquisitions or divestitures; impacts related to<br>or resulting from regional and community bank failures<br>and stresses to regional banks, or conditions in the<br>securities markets or the banking industry being less<br>favorable than currently anticipated; changes in<br>accounting principles, policies or guidelines may cause<br>the Company’s financial condition or results of<br>operation to be reported or perceived differently;<br>legislative, tax or regulatory changes or actions,<br>including changes and the potential for changes to<br>regulatory policy and the promulgation of new laws<br>and regulations following the inauguration of a new<br>presidential administration, may adversely affect the<br>Company’s business; unanticipated increases in FDIC<br>insurance premiums or future assessments; the costs,<br>including the possible incurrence of fines, penalties, or<br>other negative effects (including reputational harm) of<br>any adverse judicial, administrative, or arbitral rulings or<br>proceedings, regulatory enforcement actions, or other<br>legal actions to which we or any of our subsidiaries are a<br>party, and which may adversely affect our results; and<br>the current or the potential impact on the Company’s<br>operations, financial condition, and clients resulting<br>from natural or man-made disasters, climate change,<br>wars, military conflict, acts of terrorism, other<br>geopolitical events, cyberattacks, and global pandemics,<br>or localized epidemics as well as those discussed under<br>the heading “Risk Factors” in our Annual Report on<br>Form 10-K and Quarterly Reports on Form 10-Q which<br>have been filed with the Securities and Exchange<br>Commission under the Securities Exchange Act of 1934,<br>as amended.<br>Forward-looking statements speak only as of the date of<br>this presentation. We do not undertake (and expressly<br>disclaim) any obligation to update or revise any<br>forward-looking statement, except as may be required<br>by law. | ||||
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| Performance Metrics<br>3 | ||||
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| Metropolitan Commercial Bank Holding Corp.<br>The Only True Mid-Sized, Publicly Traded Relationship Driven Commercial Bank Headquartered in NYC<br>4<br>Six Strategically Located Banking Centers • Park Ave. Headquarters • Garment District/ Times Square • Diamond District • Upper East Side • Boro Park, Brooklyn • Great Neck, Long Island<br>Offices • Lakewood, NJ • Miami, FL<br>Market data as of September 30, 2025 and June 30, 2025<br>1 Non-GAAP financial measure. See reconciliation to GAAP measure in the appendix to this presentation. 2 Annualized.<br>3Q 2025 2Q 2025<br>Closing Price $74.82 $70.00<br>Market Cap $776.80 M $729.50 M<br>Book Value per Share $70.51 $69.37<br>Tangible Book Value per Share $69.57 $68.44<br>P/Book Value 1.06 x 1.01 x<br>P/Tangible Book Value1<br>1.08 x 1.02 x<br>P/E2<br>28.15 x 9.92 x<br>Assets $8.2 B $7.9 B<br>Loans $6.8 B $6.6 B<br>Deposits $7.1 B $6.8 B<br>Loans/Deposits 95.9 % 97.4 %<br>Net Interest Margin2<br>3.88 % 3.83 %<br>Net Charge-offs / Average Loans2<br>0.2 % 0.0 %<br>Efficiency Ratio 57.4 % 56.5 %<br>Pre-tax, Pre-Provision Net Revenue /<br>Average Assets1<br>1.70 % 1.71 %<br>ROAA2<br>0.35 % 0.97 %<br>ROAE2<br>3.9 % 10.4 %<br>ROATCE1,2 3.9 % 10.5 %<br>CET1 Capital Ratio 10.6 % 10.8 %<br>Tier 1 Leverage Ratio 9.8 % 10.0 %<br>Total Risk Based Capital Ratio 12.2 % 12.2 %<br>TCE/TA1<br> Ratio 8.8 % 9.1 % | ||||
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| Source: Bloomberg<br>1 Includes CNOB, DCOM, FFIC, OCFC, PFS and VLY.<br>2 Cumulative shareholder return (change in stock price plus reinvested dividends).<br>Outperformance versus peers<br>50<br>100<br>150<br>200<br>250<br>300<br>350<br>3/30/2023 7/26/2023 11/21/2023 3/18/2024 7/14/2024 11/9/2024 3/7/2025 7/3/2025<br>Total Return Performance<br>NYC Middle-Market Banks1, 2<br>KBW Regional Banking<br>Index (“KRX”)<br>Metropolitan Commercial<br>Bank<br>5<br>125<br>145<br>312<br>10/14/2025 | ||||
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| Source: FactSet, S&P Global Market Intelligence.<br>1 CAGR from December 31, 2017 through June 30, 2025.<br>1* KRX and NYC Middle Market-Banks include growth resulting from acquisitions.<br>2 KRX Index represents median performance of the KBW Regional Banking Index constituents.<br>3 Includes CNOB, DCOM, FFIC, OCFC, PFS and VLY.<br>4 Non-GAAP financial measure. See reconciliation to GAAP measure in the appendix to this presentation.<br>5 Performance since November 7, 2017 (MCB offering price of $35.00 per share) through October 14, 2025.<br>Pre-tax, pre-provision net revenue⁴ CAGR¹ 2017-2025Q2<br>Financial Performance Outpacing Peers<br>Since 2017 IPO<br>Deposits CAGR1 , 1*<br>2017–2025Q2<br>Loans CAGR1 , 1*<br>2017–2025Q2<br>23.4%<br>9.5%<br>14.3%<br>MCB KRX Index² NYC Middle-Market<br>Banks³<br>6<br>Share price performance since IPO5<br>November 7, 2017<br>Tangible book value per share⁴ CAGR¹ 2017–2025Q2 Earnings per share CAGR¹ 2017–2025Q2<br>13.2%<br>5.6%<br>3.5%<br>MCB KRX Index² NYC Middle-Market<br>Banks³<br>19.1%<br>8.1% 9.2%<br>MCB KRX Index² NYC Middle-Market<br>Banks³<br>22.8%<br>9.0%<br>13.5%<br>MCB KRX Index² NYC Middle-Market<br>Banks³<br>13.8%<br>7.2%<br>1.3%<br>MCB KRX Index² NYC Middle-Market<br>Banks³<br>125.7%<br>16.2%<br>(18.2%)<br>NYC Middle-Market<br>Banks³<br>MCB KRX Index² | ||||
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| Differentiating Factors<br>7 | ||||
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| Money<br>Market &<br>Savings,<br>78%<br>Non-Int.<br>Bearing<br>Demand,<br>20%<br>Time, 2%<br>EB-5, Title & Escrow, and<br>Charter Schools, 8%<br>Municipal,<br>19%<br>Bankruptcy<br>Trustees, 6%<br>Property Managers, 20%<br>Deposits<br>from Loan<br>Customers,<br>18%<br>Retail<br>Deposits,<br>29%<br>Skilled<br>Nursing<br>CRE and<br>C&I, 39%<br>Other C&I,<br>11%<br>Other Owner Occupied<br>CRE, 2%<br>Non Owner<br>Occupied CRE,<br>47%<br>Consumer & 1-4<br>Family, 1%<br>Highly Diversified Franchise<br>Total Deposits<br>$7.1B<br>Manhattan,<br>19%<br>Brooklyn,<br>Bronx,<br>Queens,<br>26%<br>Long Is., 4%<br>NJ, 10%<br>FL, 18%<br>Other<br>US, 23%<br>Loan Portfolio<br>September 30, 2025<br>Total Loans<br>$6.8B<br>Total Deposits<br>$7.1B<br>Deposits<br>September 30, 2025<br>Total Loans<br>$6.8B<br>• Active in Healthcare lending since 2002 with no<br>realized losses since entering this space and no<br>deferrals during the pandemic. • Skilled Nursing Facilities ("SNF") highly insulated<br>from economic cycles by state funded<br>payments. • All other portfolios are well-diversified across<br>multiple property types and industries<br>• Branch-lite model driven by technology<br>integrations and high-quality service. • We target industries that are in possession of or<br>have discretion over large sums of money. • Diversification across deposit verticals is a key<br>strategy for managing and reducing execution<br>risk. • 3Q 2025 Cost of deposits: 2.98%<br>8 | ||||
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| Relationship Driven Commercial Bank<br>with Strong Client Execution • Our Business Bankers have deep<br>knowledge and expertise across<br>multiple industries (e.g. law firms,<br>resident healthcare, real estate property<br>management, U.S. Trustee<br>and Municipalities). • Full suite of retail financial service<br>products targeting small and<br>middle-market<br>commercial<br>businesses.<br>• Commercial Lending group offers<br>an array of commercial and industrial<br>lending products providing our<br>clients with custom lending solutions. • Commercial Real Estate ("CRE")<br>Lending group has proven track<br>record of successfully navigating<br>today's complex real estate market.<br>White-glove<br>concierge<br>service<br>and a full suite of<br>digital banking<br>services allowing<br>clients to easily manage<br>their everyday<br>banking needs.<br>Modern<br>Banking<br>in Motion<br>Digital<br>Transformation<br>supports future<br>business expansion,<br>drives efficiencies and<br>enables better client<br>experience.<br>Our core competencies are: • Helping clients build and sustain generational<br>wealth. • Offering a full range of banking and innovative<br>financial servicesto businesses and individuals<br>embracing an ever-evolving digital banking era. • Delivering enhanced client experiences through an<br>innovative technology platform. • Providing modern and robust internal capabilities<br>for our employees to support future business expansion<br>and back-office efficiencies.<br>9 | ||||
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| $59.7<br>$61.5<br>$65.2<br>$66.6 $67.0<br>$73.6<br>$77.3<br>1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025<br>10<br>1 Represents effective average daily Fed Funds rate.<br>* Annualized.<br>Well Managed Net Interest Margin<br>Net Interest Margin Analysis<br>Estimated Sensitivity of Annual<br>Net Interest Income<br>September 30, 2025<br>Net Interest Income<br>$ millions<br>1.00%<br>1.83% 2.16%<br>0.36%<br>0.08%<br>1.68%<br>5.03% 5.15%<br>4.32% 4.57% 4.78%<br>5.09%<br>4.73% 4.80%<br>5.33%<br>6.70% 6.53%<br>7.32%<br>0.47%<br>0.58%<br>1.10%<br>0.43%<br>0.27%<br>0.49%<br>2.43%<br>3.22% 2.98%<br>3.52% 3.70% 3.46% 3.26%<br>2.77%<br>3.49% 3.49% 3.53%<br>3.88%<br>2017 2018 2019 2020 2021 2022 2023 2024 QTD Q3'25*<br>Average Fed Funds Rate¹ Average Loan Yield<br>Average Total Cost of Deposits MCB Net Interest Margin ("NIM")<br>1.86%<br>0.61%<br>0.11%<br>-0.13%<br>-200 bps -100 bps +100 bps +200 bps | ||||
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| 28.4%<br>22.3% 21.5% 21.0% 19.5%<br>3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025<br>$6.3<br>$6.0<br>$6.4<br>$6.8<br>$7.1<br>3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025<br>9.5% 9.9% 9.6% 9.1% 8.8%<br>3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025<br>Highly Liquid and Resilient Balance Sheet<br>76%<br>Insured deposits<br>Deposits<br>($ bn)<br>TCE/TA Ratio1<br>Non-interest bearing Deposit %<br>Deposit Profile<br>at September 30, 2025<br>190%<br>Uninsured Deposit<br>Coverage Ratio2<br>BBB+<br>Kroll Deposit Rating<br>11<br>$5.9 $6.0<br>$6.3<br>$6.6 $6.8<br>3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025<br>Loans<br>($ bn)<br>1<br>Tangible Common Equity divided by Tangible Assets. Non-GAAP financial measure. See reconciliation to GAAP measure on slide 29 2 Cash and available secured borrowing capacity divided by uninsured deposits. | ||||
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| Loans and Deposits<br>12 | ||||
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| 13<br>1 Gross of deferred fees and unamortized costs. 2 Certain prior period amounts adjusted to conform to current presentation. 3<br>Excludes owner-occupied. 4 Mobile Home Parks, Residential Condos/Co-ops, Temporary Shelters, Religious Orgs., Parking Lots and Garages, Restaurants and Entertainment Facilities<br>* Includes commercial real estate, multifamily and construction loans.<br>Loan Portfolio Growth and<br>Diversification<br>$6.8 billion Gross Loan Portfolio1, 2<br>September 30, 2025 | $ millions<br>Diversified Loan Portfolio<br>September 30, 2025<br>36%<br>7%<br>6% 7%<br>5%<br>5%<br>4%<br>3%<br>3%<br>3%<br>6%<br>14%<br>36% CRE: Skilled Nursing<br>Facility ("SNF")<br>7% CRE: Office<br>7% CRE: Hospitality<br>6% CRE: Multi-family<br>5% CRE: Retail<br>5% CRE: Mixed Use<br>4% CRE: Construction<br>3% CRE: Land<br>3% CRE: Industrial<br>3% CRE: Charter Schools<br>6% CRE: Other⁴<br>14% C&I<br>1% Consumer & 1-4 Family<br>$2,911 $2,939 $3,042 $3,162 $3,201<br>$1,827 $1,962<br>$2,171<br>$2,353 $2,547<br>$1,070<br>$1,046<br>$1,045<br>$1,016<br>$953<br>$106<br>$104<br>$102<br>$100<br>$99<br>$5,914 $6,051<br>$6,360<br>$6,631 $6,800<br>3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025<br>Consumer & 1-4<br>Family<br>C&I<br>CRE: Owner Occupied<br>CRE: Non Owner<br>Occupied*<br>Average 3Q 2025 Yield: 7.32%<br>CRE/RBC ratio3<br>: 374% | |||
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| 19%<br>15%<br>11%<br>10%<br>9%<br>8%<br>3%<br>5%<br>20%<br>19% Manhattan<br>15% Florida<br>11% Brooklyn<br>10% New Jersey<br>9% Bronx<br>8% Queens<br>3% Long Island<br>5% Other NY<br>20% Other States<br>43%<br>8% 7%<br>8%<br>6%<br>6%<br>4%<br>3%<br>15%<br>43% Skilled Nursing Facilities<br>7% Multifamily<br>8% Office<br>8% Hospitality<br>6% Retail<br>6% Mixed Use<br>4% Land<br>3% Industrial<br>15% Other CRE<br>Relationship-Based<br>Commercial Real Estate Lending<br>14<br>Target Market • New York metropolitan area real estate entrepreneurs<br>with a net worth in excess of $50 million • Primarily concentrated in the New York MSA • Well-diversified across multiple property types<br>Key Metrics<br>September 30, 2025 • Weighted average LTV of 61% • Owner occupied – 44%<br>Composition by Type<br>September 30, 2025<br>Composition by Region<br>September 30, 2025<br>Vast majority of loans are originated through direct relationships or existing client referrals.<br>Total CRE loans: $5.7 billion | ||||
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| $269 $273 $258 $246 $229<br>$248 $238 $249 $244 $237<br>$152 $159 $154 $170 $162<br>$119 $117 $116 $107 $104<br>$70 $69 $66 $77<br>$11<br>$63 $64 $67 $73<br>$65<br>$30 $29 $30 $30<br>$27<br>$119 $97 $105 $69<br>$117<br>$1,070 $1,046 $1,045 $1,016<br>$953<br>3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025<br>Other<br>Manufacturing<br>Wholesale<br>Services<br>Other Healthcare<br>Individuals<br>Skilled Nursing<br>Facilities<br>Finance & Insurance<br>Expertise in Specific Verticals Drive<br>Commercial & Industrial Lending<br>15<br>C&I Composition<br>September 30, 2025<br>Target Market<br>September 30, 2025<br>Total C&I Loans: $953mm<br>• Middle market businesses with revenues up to $400 million • Well-diversified across industries<br>Key Metrics • Strong historical credit performance - Pledged collateral and/or personal guarantees from high-net-worth<br>individuals support most loans - Target borrowers have strong historical cash flows, and good asset<br>coverage<br>24%<br>25%<br>17%<br>11%<br>9%<br>7%<br>3% 4%<br>24% Finance & Insurance<br>25% Skilled Nursing Facilities<br>17% Individuals<br>11% Other Healthcare<br>9% Services<br>7% Wholesale Trade<br>3% Manufacturing<br>4% Other 1 Certain prior period amounts adjusted to conform to current presentation.<br>C&I Portfolio1<br>September 30, 2025 | $millions | |||
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| C&I Healthcare Composition | September 30, 2025<br>Diversified Healthcare Portfolio<br>• Active in Healthcare lending since 2002 with no realized losses<br>since entering this space and no deferrals during the pandemic. • Stabilized SNF – 64% of CRE SNF portfolio. Stabilized facilities<br>provide cash flows adequate to support debt service and<br>collateral value. Borrowers’ primary motive for acquisition of a<br>stabilized property is for synergies with existing portfolio of<br>SNFs. Weighted average debt service coverage ratio is 1.92x. • Transitional Non-stabilized SNF – are typically value-add<br>opportunities that may have underlying issues that can be<br>remediated. By implementing operational and management<br>changes, enhancing the quality of care, improving the payor<br>mix, and optimizing efficiency, experienced operators can<br>increase the facility's profitability and value. Operators that<br>have a strong market share in the region can negotiate higher<br>reimbursement rates by working with payers, such as Medicare<br>and Medicaid, to negotiate higher reimbursement rates for the<br>services provided by the SNF.<br>70%<br>14%<br>9%<br>4% 70% SNF<br>14% Ambulatory Health Care<br>Services<br>9% Medical Labs<br>4% Misc. Health Practitioners<br>2% Doctor Office<br>1% Ambulance Services<br>CRE SNF<br>$2.4 billion<br>C&I SNF<br>$238 mm<br>C&I Other<br>$104 mm<br>Healthcare Composition | September 30, 2025<br>Total Healthcare loans:<br>$2.8 billion<br>16<br>Total C&I Healthcare loans:<br>$341mm<br>Overview<br>September 30, 2025 | ||
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| C&I Skilled Nursing Facility Exposure by State<br>September 30, 2025<br>Geographically Diversified Skilled Nursing<br>Facility Portfolio<br>CRE Skilled Nursing Facility Exposure by State<br>September 30, 2025<br>32%<br>25%<br>15%<br>8%<br>20% 32% Florida<br>25% New York<br>15% New Jersey<br>8% Indiana<br>20% Other States<br>49%<br>17%<br>14%<br>7%<br>5%<br>8%<br>49% Florida<br>17% New York<br>14% New Jersey<br>7% Tennessee<br>5% Indiana<br>8% Other<br>17<br>Total CRE SNF loans:<br>$2.4 billion<br>Total C&I SNF loans:<br>$237mm<br>• CRE – Skilled Nursing Facilities (“SNF”) – average LTV of 70%. • Highly selective regarding the quality of SNF Operators that<br>we finance. • Borrowers are very experienced operators that typically have<br>in excess of 1,000 beds under management and strong cash<br>flows. Many further supported by vertically integrated related<br>businesses. • Loans are made primarily in “certificate of need” states which<br>limits the supply of beds and supports stable occupancy<br>rates. • New York had Medicaid reimbursement rate increases of 4.4%<br>and 6.5% in 2024 and 2023, respectively.1 • Florida had Medicaid reimbursement rate increase of 8.0% in<br>2024, with an additional 8% in 2025.1<br>Overview<br>September 30, 2025<br>1<br>Source: Zimmet Healthcare Services Group LLC | ||||
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| Conservatively Underwritten, Geographically<br>Diversified CRE Office Portfolio<br>18<br>Office by Region<br>September 30, 2025<br>43%<br>15%<br>5%<br>26%<br>9%<br>43% Manhattan<br>15% Brooklyn<br>5% Queens<br>2% Bronx<br>26% NY Metro Area<br>(outside NYC)<br>9% Non NY Metro Area<br>Overview<br>September 30, 2025 • Total Office loans: $444mm<br>• Weighted average LTV of 52% • Weighted average occupancy rate of 77%* • Weighted average debt service coverage ratio of 1.51x* • Manhattan loans originated since March 2022 is 100% • Owner-occupied is 9.9% • Varying levels of recourse on approximately 59% of loans<br>* Excluding owner-occupied office properties. 1 Based on Outstanding Balance. 2<br>Single loan with "as is" LTV of 62%.<br>Occupancy by Region<br>September 30, 2025<br>Maturity Schedule<br>September 30, 2025 | $ millions<br>46%<br>82%<br>69%<br>42%<br>88%<br>81%<br>Non NY Metro Area<br>NY Metro Area<br>(outside NYC)<br>Bronx<br>Queens²<br>Brooklyn<br>Manhattan<br>2025 2026 Thereafter Total<br>Outstanding Balance $43 $56 $345 $444<br>Commitment Amount $43 $60 $361 $464<br>Avg. Commitment Size $11 $6 $11 $10<br>LTV1 47% 45% 53% 52%<br>Nonperforming 0% 14% 0% 2%<br>WAC 6.5% 5.9% 6.2% 6.2% | |||
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| 19<br>Conservatively Underwritten<br>Multi-family Portfolio<br>Overview<br>September 30, 2025 | $ millions<br>Stabilized1 Maturity Schedule<br>September 30, 2025 | $ millions<br>Origination Vintage<br>September 30, 2025<br>• Total Multi-family loans: $406mm<br>• Weighted average LTV of 52% • Recourse on 60% of Total; recourse on 100% of Transitional • Rent regulated 46% of Total • Rent regulated have weighted average LTV of 44% • Stabilized weighted average debt service coverage ratio of<br>2.07x<br>Transitional1 Maturity Schedule<br>September 30, 2025 | $ millions<br>1<br>Stabilized facilities provide cash flows adequate to support debt service and collateral value. Transitional are value-add opportunities that<br>may have historic underlying issues or challenges that can be addressed and improved upon. 2 Based on Outstanding Balance.<br>3%<br>15%<br>82%<br>% of $406mm Outstanding Balance<br>2017 - 2019<br>2020 - 2021<br>2022 - 2025<br>2025 2026 Thereafter Total<br>Outstanding Balance $73 $79 $147 $299<br>Commitment Amount $73 $79 $153 $305<br>Avg. Loan Size $6 $4 $5 $5<br>LTV2 62% 62% 36% 50%<br>Rent Regulated2 63% 60% 59% 61%<br>With Recourse2 67% 61% 27% 46%<br>Nonperforming 3% 0% 0% 1%<br>WAC 6.3% 5.9% 4.7% 5.4%<br>2025 2026 Thereafter Total<br>Outstanding Balance $8 $59 $40 $107<br>Commitment Amount $8 $59 $40 $107<br>Avg. Commitment Size $3 $6 $20 $7<br>LTV2 39% 54% 71% 60%<br>Rent Regulated2 0% 11% 0% 6%<br>With Recourse2 100% 100% 100% 100%<br>Nonperforming 0% 59% 0% 33%<br>WAC 7.7% 4.6% 7.0% 5.7% | |
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| $1,880 $2,011 $2,135 $2,082 $2,053<br>$1,091 $1,108<br>$1,235 $1,266 $1,294<br>$311<br>$305<br>$300 $351 $413<br>$1,193<br>$1,217<br>$1,269 $1,279 $1,409<br>$770<br>$92<br>$723<br>$858<br>$988<br>$1,260<br>$1,340<br>$302<br>$392<br>$522<br>$553<br>$564<br>$6,270<br>$5,983<br>$6,449<br>$6,791<br>$7,073<br>3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025<br>EB-5, Title & Escrow, & Charter Schools<br>Municipal<br>Other**<br>Property Managers<br>Bankruptcy Trustees<br>Deposits from Loan Customers<br>Retail Deposits<br>$7.1 Billion Total Deposits<br>September 30, 2025 | $ millions*<br>Deposit Composition<br>* Certain prior period amounts adjusted to conform to current presentation.<br>** GPG wind down. 20 | |||
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| Modern Banking in Motion<br>Digital Transformation<br>21 | ||||
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| 2024 2025 2026<br>Service Description Partners Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1<br>Payments Hub (Wires)<br>Payments Hub (ACH)<br>Payments Hub (FedNow)<br>Commercial Loans Servicing<br>Enterprise Datawarehouse<br>Digital Banking (Consumers)<br>Digital Banking (Commercial)<br>Fraud Risk Management<br>Core Processing<br>Contact Center / Core servicing<br>Statements Processing and Rendering<br>Teller System<br>Project Phoenix N.A.<br>Modern Banking in Motion<br>Digital Transformation<br>22<br>Overview • The Bank is modernizing its core, payments and online banking systems to<br>support continued growth. A modern stack will support future business<br>expansion, drive efficiencies and enable a better client experience. • Digital transformation will provide extensive digital proficiencies, NextGen<br>analytics capabilities, API-based extensibility, optimized back-office processes and<br>efficient origination and loan servicing. • In 2024, the Bank launched project Phoenix to overhaul its infrastructure in line<br>with its strategic growth and to enhance its disaster recovery capabilities. This<br>project is expected to be completed in Q4'2025 and includes the redesign of the<br>network, expansion of the datacenters, and increased system capacity. • Q3'25 digital transformation costs – $2.5 million • Full integration to be completed in Q1'26 • Total estimated project costs – $18 million (including 10% contingency) • Project costs expensed to date – $10.8 million<br>Go live. N.A. – not applicable. | ||||
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| Modern Banking in Motion<br>Digital Transformation Partners<br>23<br>Partners Service Areas About<br>Finzly provides a modern, cloud-based, API-enabled operating system that serves as a parallel payment processing platform to a<br>bank's core. Finzly offers a wide range of turnkey banking solutions, including a multi-rail payment for traditional payments on ACH<br>and wires, instant payments on FedNow and RTP, foreign exchange, trade finance, compliance, and commercial banking digital<br>experiences.<br>Payments Hub (wires)<br>Payments Hub (ACH)<br>Payments Hub (FedNow)<br>AFS is the global leader in providing advanced commercial loan servicing solutions to lending institutions of all sizes. Solely<br>dedicated to the commercial lending industry, AFS is uniquely positioned to support its client’s business and technology<br>transformation.<br>Commercial Loans Origination<br>and Servicing<br>Snowflake enables organizations to mobilize their data with Snowflake’s Data Cloud. Customers use the Data Cloud to unite siloed<br>data, discover and securely share data, power data applications, and execute diverse AI/ML and analytic workloads. Enterprise Datawarehouse<br>ebankIT enables banks to deliver humanized, personalized, and accessible digital experiences for their customers from mobile to<br>web banking, from wearable gadgets to the metaverse and beyond.<br>Digital Banking (Consumers &<br>Commercial)<br>Alloy helps banks and fintech companies make safe and seamless fraud, credit, and compliance decisions. Alloy's platform connects<br>companies to more than 150 data sources of KYC/KYB, AML, credit, and compliance data through a single API to help create a<br>future without fraud.<br>MX Technologies, Inc. is a leader in actionable intelligence, enabling financial providers and consumers to do more with financial<br>data. MX offers fast, secure solutions that helps streamline the account opening process while mitigating fraud and reducing risk.<br>Fraud Risk Management & KYC<br>To drive continued growth, the Bank is modernizing its core banking system with Finxact. Finxact, a gen-3 core, was built to be a<br>full core banking solution providing MCB with the ability to develop and get to market with speed, with complete flexibility and<br>control to adopt new capabilities. Gen 3 core solutions are geared towards banks who are looking to rapidly innovate utilizing new<br>technologies to create unique customer experiences through a cloud-native / event driven architecture enabling highly automated<br>real time access to bank data from modern APIs to all ancillary systems.<br>Core Processing<br>Savana provides a front-end servicing solution for the core processing system. Savana's platform is designed to orchestrate<br>channels, products and processes to provide a unified ecosystem that streamlines operations between the core, back office and<br>banker assisted channel.<br>Contact Center / Core servicing<br>A full-service, browser based, teller solution that is core agnostic. Dedicated to innovating cash and people across the branch<br>network, offering cash management resources, cash planning tools, CTR, and Reg CC for the US market, a fully accessible electronic<br>journal, and 27 other branch functions integrated directly to a Financial Institution's ecosystem.<br>Statements Processing and<br>Rendering<br>Antuar is a financial technology company focused on branch innovation. Antuar's banking software solutions are<br>designed to enable financial institutions to innovate the branch network, while reducing the overhead cost of<br>servicing customers.<br>Teller System | ||||
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| Selected Financial<br>Information<br>24 | ||||
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| Proven High Growth Business Model<br>Loans1<br> | $ millions<br>$3,830<br>$6,436<br>$5,278<br>$5,737 $5,983<br>$7,073<br>2020 2021 2022 2023 2024 3Q 2025<br>Deposits<br> | $ millions<br>$142<br>$181<br>$256 $251<br>$277<br>$227<br>2020 2021 2022 2023 2024 YTD 2025<br>Revenue<br> | $ millions<br>$39<br>$60 $59<br>$77<br>$67<br>$42<br>2020 2021 2022⁴ 2023⁵ 2024⁶ YTD 2025<br>Net Income<br> | $ millions<br>1<br>Loans, net of deferred fees and costs. 2 CAGR from December 31, 2020 through September 30, 2025. 3 CAGR from December 31, 2020 through December 31, 2024. 4 Includes a $35.0 million charge for a regulatory settlement reserve in the fourth quarter of 2022. 5<br>Includes a $5.5 million reversal of the regulatory settlement reserve. 6<br>Includes a $10.0 million regulatory reserve recorded in the third quarter of 2024.<br>$3,137<br>$3,732<br>$4,841<br>$5,625<br>$6,034<br>$6,782<br>2020 2021 2022 2023 2024 3Q 2025<br>25 |
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| Return on Average Assets<br>Highly Profitable, Scalable Model<br>1 Non-GAAP financial measures. See reconciliation on slide 29. 2<br>Total non-interest expense divided by Total revenues. 3<br>Includes a $35.0 million charge for a regulatory settlement reserve. 4<br>Includes a $5.5 million reversal of the regulatory settlement reserve.<br>⁵ Includes a $10.0 million regulatory reserve recorded in the third quarter of 2024. * Annualized.<br>Efficiency ratio2<br>12.9%<br>15.2%<br>10.4%<br>12.6%<br>9.7%<br>7.8%<br>2020 2021 2022³ 2023⁴ 2024⁵ YTD 2025*<br>ROATCE1<br>52.5%<br>48.3%<br>58.2%<br>52.5%<br>62.7%<br>58.1%<br>2020 2021 2022³ 2023⁴ 2024⁵ YTD 2025*<br>Net Interest Margin<br>3.26%<br>2.77%<br>3.49% 3.49% 3.53%<br>3.80%<br>2020 2021 2022 2023 2024 YTD 2025*<br>26<br>1.02% 1.06% 0.90%<br>1.19%<br>0.91% 0.73%<br>2020 2021 2022 2023 2024 YTD 2025* | ||||
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| 0.20% 0.28% 0.00%<br>0.92%<br>0.54%<br>1.20%<br>2020 2021 2022 2023 2024 3Q 2025<br>Non-Performing Loans/Loans<br>Credit Metrics<br>NCOs/Average Loans<br>ACL/Loans Non-Performing Loans/ACL<br>0.01%<br>0.13%<br>0.00% 0.02% 0.00%<br>0.08%<br>2020 2021 2022 2023 2024 YTD 2025¹<br>1.13%<br>0.93% 0.93%<br>1.03% 1.05%<br>1.39%<br>2020 2021 2022 2023* 2024 3Q 2025<br>18.0%<br>29.6%<br>0.0%<br>89.5%<br>51.5%<br>86.5%<br>2020 2021 2022 2023* 2024 3Q 2025<br>27<br>* Includes $2.3 million increase in ACL due to impact of CECL adoption on January 1, 2023. 1 Annualized | ||||
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| Capital Ratios*<br>Common Equity Tier 1 Capital Ratio<br>10.1%<br>14.1%<br>12.1% 11.5% 11.9%<br>10.6%<br>2020 2021 2022¹ 2023² 2024³ 3Q 2025<br>Minimum to be "Well Capitalized" (8%)<br>* These capital ratios are for Metropolitan Bank Holding Corp. 1<br>Includes a $35.0 million charge for a regulatory settlement reserve. 2<br>Includes a $5.5 million reversal of the regulatory settlement reserve. 3<br>Includes a $10.0 million regulatory reserve recorded in the third quarter of 2024.<br>⁴ Non-GAAP financial measure. See reconciliation to GAAP measure on slide 28.<br>Tier 1 Leverage Ratio<br>8.5% 8.5%<br>10.2% 10.6% 10.8%<br>9.8%<br>2020 2021 2022¹ 2023² 2024³ 3Q 2025<br>Minimum to be "Well Capitalized" (5%)<br>12.7%<br>16.1%<br>13.4% 12.8% 13.3%<br>12.2%<br>2020 2021 2022¹ 2023² 2024³ 3Q 2025<br>Minimum to be "Well Capitalized" (10%)<br>Total Risk-Based Capital Ratio TCE / TA4<br>7.5% 7.7%<br>9.0% 9.2% 9.9%<br>8.8%<br>2020 2021 2022¹ 2023² 2024³ 3Q 2025<br>28 | ||||
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| Reconciliation of GAAP to Non-GAAP<br>Measures<br>1<br>Tangible common equity divided by common shares outstanding at period-end. 2<br>Total revenues equal net interest income plus non-interest income.<br>In addition to the results presented in accordance with Generally Accepted Accounting Principles (“GAAP”), this earnings presentation includes certain non-GAAP financial measures. Management believes these non-GAAP financial measures<br>provide meaningful information to investors in understanding the Company’s operating performance and trends. These non-GAAP measures have inherent limitations and are not required to be uniformly applied and are not audited. They<br>should not be considered in isolation or as a substitute for an analysis of results reported under GAAP. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies. Reconciliations of non-GAAP/adjusted financial measures disclosed in this earnings presentation to the comparable GAAP measures are provided in the accompanying tables.<br>29<br>$ thousands, except per share data Q3 2025 Q2 2025 Q1 2025 2024 2023 2022 2021 2020 2019 2018 2017<br>Average assets $ 7,775,199 7,964,712 $ 7,451,703 $ 7,293,445 $ 6,506,614 $ 6,621,631 $ 5,724,230 $ 3,863,013 $ 2,846,959 $ 1,951,982 $ 1,524,202 $<br>Less: average intangible assets 9,733 9,733 9,733 9,733 9,733 9,733 9,733 9,733 9,733 9,733 9,733<br>Average tangible assets $ 7,954,979 $ 7,765,466 $ 7,441,970 $ 6,496,881 7,283,712 $ 6,611,898 $ 5,714,497 $ 3,853,280 $ 2,837,226 $ 1,942,249 $ 1,514,469 $<br>Average equity $ 723,974 731,281 $ 738,224 $ 694,154 $ 621,006 $ 578,787 $ 413,212 $ 320,617 $ 282,604 $ 251,030 $ 133,462 $<br>Less: Average preferred equity — - — — — — 4,585 5,502 5,502 5,502 5,502<br>Average common equity 723,974 731,281 738,224 694,154 621,006 578,787 408,627 315,115 277,102 245,528 127,960 Less: average intangible assets 9,733 9,733 9,733 9,733 9,733 9,733 9,733 9,733 9,733 9,733 9,733<br>Average tangible common equity $ 721,548 $ 714,241 $ 728,491 $ 684,421 $ 611,273 $ 569,054 $ 398,894 $ 305,382 $ 267,369 $ 235,795 $ 118,227<br>Total assets $ 8,234,430 $ 7,853,849 $ 7,616,298 $ 7,300,749 $ 7,067,672 $ 6,267,337 $ 7,116,358 $ 4,330,821 $ 3,357,572 $ 2,182,644 $ 1,759,855<br>Less: intangible assets 9,733 9,733 9,733 9,733 9,733 9,733 9,733 9,733 9,733 9,733 9,733 Tangible assets $ 8,224,697 $ 7,844,116 $ 7,606,565 $ 7,291,016 $ 7,057,939 $ 6,257,604 $ 7,106,625 $ 4,321,088 $ 3,347,839 $ 2,172,911 $ 1,750,122<br>Total Equity $ 732,040 $ 722,968 $ 737,846 $ 729,827 $ 659,021 $ 575,897 $ 556,989 $ 340,787 $ 299,124 $ 264,517 $ 236,884<br>Less: preferred equity — — — — — — — 5,502 5,502 5,502 5,502<br>Common Equity 722,968 732,040 737,846 729,827 659,021 575,897 556,989 335,285 293,622 259,015 231,382 Less: intangible assets 9,733 9,733 9,733 9,733 9,733 9,733 9,733 9,733 9,733 9,733 9,733<br>Tangible common equity (book value) $ 713,235 722,307 $ 728,113 $ 720,094 $ 649,288 $ 566,164 $ 547,256 $ 325,552 $ 283,889 $ 249,282 $ 221,649 $<br>Common shares outstanding 10,421,384 10,382,218 11,066,234 11,197,625 11,062,729 10,949,965 10,920,569 8,295,272 8,312,918 8,217,274 8,196,310 Book value per share (GAAP) $ 70.51 $ 69.37 $ 66.68 $ 65.18 $ 59.57 $ 52.59 $ 51.00 $ 40.42 $ 35.32 $ 31.52 $ 28.23<br>Tangible book value per share (non-GAAP)¹ 69.57 $ 68.44 $ 65.80 $ 64.31 $ 58.69 $ 51.70 $ 50.11 $ 39.25 $ 34.15 $ 30.34 $ 27.04 $<br>Total Revenue (GAAP)² 79,838 $ 76,270 $ 70,590 $ 276,913 $ 250,739 $ 255,751 $ 180,698 $ 141,924 $ 108,239 $ 83,177 $ 63,382 $<br>Less: Non-interest expense 45,794 43,109 42,722 173,575 131,538 148,737 87,312 74,518 59,955 43,471 32,745<br>Less: Gain (loss) on sale of securities — — — — — — 609 3,286 — (37) —<br>Pre-tax, pre-provision net revenue $ 34,044 $ 33,161 $ 27,868 $ 103,338 $ 119,201 $ 107,014 $ 92,777 $ 64,120 $ 48,284 $ 39,743 $ 30,637<br>For Year Ending | ||||
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