Equibles

8-K

Metropolitan Bank Holding Corp. (MCB)

8-K 2021-10-21 For: 2021-10-20
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Added on April 04, 2026

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 eventreported):  October 20, 2021

METROPOLITAN BANK HOLDING CORP.

(Exact name of the registrant as specifiedin its charter)

New York 001-38282 13-4042724
(State or other jurisdiction of incorporation or organization) (Commission File Number) (IRS Employer Identification No.)
99 Park Avenue
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New York, New York 10016
(Address of principal executive offices) (Zip Code)

(212) 659-0600

(Registrant’s telephone number)

N/A

(Former name or former address, if changedsince 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
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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 x

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 2.02 Results of Operations and Financial Condition

On October 20, 2021, Metropolitan Bank Holding Corp. (the “Company”), the holding company for Metropolitan Commercial Bank, issued a press release announcing its financial results for the third quarter of 2021. 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 7.01 Regulation 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 2021 (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 20, 2021
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 20, 2021 By: /s/<br> Gregory A. Sigrist
Gregory A. Sigrist
Executive Vice President and Chief Financial Officer

Exhibit 99.1

Release: 4:05 P.M. October 20, 2021
212-365-6721
IR@MCBankNY.com

Sustained Performance Drives Metropolitan BankHolding Corp. Third Quarter Net Income of $16.2 Million and Diluted EPS of $1.77

NEW YORK, October 20, 2021 – Metropolitan Bank Holding Corp. (the “Company”) (NYSE: MCB), the holding company for Metropolitan Commercial Bank (the “Bank”), reported net income of $16.2 million, or $1.77 per diluted common share, for the third quarter of 2021 compared to net income of $10.8 million, or $1.27 per diluted common share, for the third quarter of 2020.

Financial Highlights include:

· Total revenues of $46.7 million, up 29.8% from the prior year period and 8.2% from the prior linked quarter.
· Net income of $16.2 million, up 50.4% from the prior year period and 21.6% from the prior linked quarter.
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· Loans totaled $3.6 billion, up 20.5% from September 30, 2020 and up 17.8% annualized from June 30, 2021.
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· Deposits were $5.5 billion, up 54.7% from September 30, 2020 and up 12.8% annualized from June 30, 2021.
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· Diluted earnings per share of $1.77, up 39.4% from the prior year period and 14.2% from the prior linked<br>quarter.
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· Book value per share was $50.46 per share, up 29.5% from September 30, 2020 and tangible book value per<br>share^1^ was $49.55, up 31.1% from September 30, 2020.
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· Annualized return on average equity of 16.30% and annualized return on average tangible common equity<br>(ROATCE)^1^ of 16.95% for the third quarter of 2021.
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· Efficiency ratio^1^ improved to 49.7% for the first nine months of 2021, compared to 54.0% for<br>the first nine months of 2020.
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· Raised $172.5 million of capital through the issuance of 2.3 million shares of our common stock at a price<br>of $75 per share, resulting in net proceeds of approximately $163 million.
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Mark DeFazio, President and Chief Executive Officer, commented, “Our strong third quarter performance continues to showcase that we are a top performing growth company with a sustained history of driving net income, ROATCE and shareholder value.  We have done this with a laser-focus on the funding side of our balance sheet, while driving high quality loan growth with minimal net charge-offs since our founding 22 years ago.  Today, we have grown to over $6 billion in assets and combine a strong commercial bank with a uniquely positioned Global Payments business.

“The success of our follow-on $172.5 million common equity raise adds further support to a high-quality balance sheet with a strong liquidity position. The additional capital will allow us to focus on scaling our businesses while deepening existing commercial banking relationships.

^1^Non-GAAP financial measure. See Reconciliation of Non-GAAP Measures starting on page 13.

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“We are also excited about the opportunities ahead for our Global Payments Group.  The banking-as-a-service model to our fintech clients that we have had in place for nearly 20 years now puts us at the forefront of the digital-driven evolution occurring in retail banking today.  As our fintech partners begin to accelerate their investments in client acquisition, their success at attracting retail clients to their platforms is a significant tail wind for MCB.

“Our success would not be possible without the enthusiasm and dedication of the entire MCB team.  A huge thank you to our employees, our board and to our clients,” Mr. DeFazio concluded.

Balance Sheet

The Company had total assets of $6.1 billion at September 30, 2021, an increase of 6.1% from June 30, 2021. Total loans, net of deferred fees and unamortized costs, increased $154 million from the prior linked quarter to $3.6 billion, as compared to $3.4 billion at June 30, 2021. The increase in total loans from the prior linked quarter was due primarily to an increase of $147 million in commercial real estate (“CRE”) loans (including construction and multifamily loans) and $10 million in commercial and industrial loans, offset by a decrease in consumer loans and an increase in deferred fees. Loan production was $313 million for the third quarter of 2021, compared to $265 million for the prior linked quarter.

Total assets increased 53.5% from September 30, 2020. Total loans, net of deferred fees and unamortized costs, increased to $3.6 billion at September 30, 2021, as compared to $3.0 billion at September 30, 2020. The increase in total loans from September 30, 2020 was due primarily to an increase of $550 million in CRE loans (including construction and multifamily loans) and $83 million in commercial and industrial loans. Loan production was $814 million year to date at September 30, 2021 compared to $513 million year to date at September 30, 2020.

Total cash and cash equivalents were $1.9 billion at September 30, 2021, an increase of $138 million, or 8.0% from June 30, 2021 and $1.1 billion, or 141.9%, from September 30, 2020. The increase in cash and cash equivalents reflected the strong growth in deposits as well as the cash received from the issuance of common stock during the third quarter of 2021.

Total securities, which are primarily classified as available-for-sale (“AFS”), were $607.5 million at September 30, 2021, an increase of 10.8% from June 30, 2021 and 223.6% from September 30, 2020, due to the deployment of excess liquidity from deposit growth.

Total deposits increased $169 million to $5.5 billion at September 30, 2021, up 3.2% from $5.3 billion at June 30, 2021. The increase in deposits was due primarily to an increase in interest-bearing deposits.

Total deposits increased $1.9 billion, up 54.7% from $3.5 billion at September 30, 2020. The increase in deposits was due to increases of $1.2 billion in non-interest-bearing deposits and $679 million in interest-bearing deposits, resulting from increases across most deposit verticals.

Non-interest-bearing deposits were 51.4% of total deposits at September 30, 2021, as compared to 52.8% and 44.0% at June 30, 2021 and September 30, 2020, respectively.

The Company and the Bank each met all the requirements to be considered “Well-Capitalized” under applicable regulatory guidelines. Total non-owner-occupied commercial real estate loans were 349.1% of total risk-based capital at September 30, 2021, compared to 417.3% of total risk based capital at September 30, 2020.

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Income Statement

Financial Highlights

Three months ended Nine Months Ended
Sept 30, June 30, Sept 30, Sept. 30,
2021 2021 2020 2021 2020
Total Revenues $ 46,683 $ 43,129 $ 35,961 $ 128,829 $ 105,082
Net income $ 16,215 $ 13,336 $ 10,783 $ 41,668 $ 27,690
Diluted earnings per common share $ 1.77 $ 1.55 $ 1.27 $ 4.76 $ 3.27
Annualized return on average assets 1.09 % 0.97 % 1.07 % 1.04 % 0.98 %
Annualized return on average equity 16.30 % 14.98 % 13.20 % 15.20 % 11.74 %
Annualized return on average tangible common equity* 16.95 % 15.65 % 13.85 % 15.86 % 12.33 %

* Non-GAAP financial measure. See Reconciliation of Non-GAAP Measures starting on page 13.

Net Interest Income

Net interest income for the third quarter of 2021 was $40.8 million, an increase of $3.8 million from the prior linked quarter. This increase was primarily due to a higher average balance of $5.9 billion in interest-earning assets, particularly in loans, for the third quarter of 2021, which increased $409 million from the prior linked quarter. This was partially offset by a $186 million increase in the average balance of interest-bearing liabilities for the third quarter of 2021, as compared to the prior linked quarter.

Net interest income increased $8.5 million for the third quarter of 2021, as compared to the third quarter of 2020. This increase was primarily due to a higher average balance of $5.9 billion in interest-earning assets, particularly in loans and securities, for the third quarter of 2021, which increased $1.9 billion from the third quarter of 2020. This was partially offset by a $588 million increase in the average balance of interest-bearing liabilities for the third quarter of 2021, as compared to the third quarter of 2020.

Net InterestMargin

Net interest margin increased by 2 basis points to 2.70% for the third quarter of 2021, as compared to 2.68% for the prior linked quarter, primarily due to higher yields on purchased securities, combined with a lower cost of interest bearing deposits.

Net interest margin decreased by 48 basis points to 2.70% for the third quarter of 2021, as compared to 3.18% for the third quarter of 2020, primarily due to increased low yielding overnight deposits driven by deposit growth; partially offset by a decrease of 7 basis points in the average cost of interest-bearing liabilities driven by the lower rate environment.

Total cost of funds was 31 basis points for the third quarter of 2021, a decrease of 1 basis point from the prior linked quarter, and a decrease of 9 basis points from the prior year quarter, given the mix shift toward non-interest bearing deposits.

Non-Interest Income

Non-interest income was $5.9 million for the third quarter of 2021, a decrease of $0.3 million from the prior linked quarter driven primarily by a $0.6 million decrease in recognized gains on sales of AFS securities. This was offset by an increase in service charges and fees of $0.3 million, a significant portion of which was driven by an increase in service charges on deposit accounts related to Global Payments Group client activity.

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Non-interest income for the third quarter of 2021 increased by $2.3 million, as compared to the third quarter of 2020. The increase was primarily due to an increase of $1.0 million of Global Payments Group revenue and an increase of $1.2 million in service charges and fees.

Non-Interest Expense

Non-interest expense was $22.0 million for the third quarter of 2021, an increase of $0.3 million from the prior linked quarter. The primary driver was an increase in other expense related to higher Federal Deposit Insurance Corporation (“FDIC”) insurance costs, partially offset by a decrease in technology costs.

Non-interest expense increased $3.1 million, as compared to the third quarter of 2020. Drivers included an increase in compensation and benefits costs due to additional full-time employees and increases in professional fees, technology and licensing costs in line with business and volume growth, partially offset by reduced licensing fees given the LIBOR rate reduction.

The annualized estimated effective tax rate for the nine months ended September 30, 2021 was 32.3% compared to 31.9% for the nine months ended September 30, 2020.

Asset Quality

Credit quality remains strong with $0.3 million of net recoveries in the third quarter of 2021, while non-performing loans increased to 0.4% of total loans. During the third quarter of 2021, the Company recorded a provision of $0.5 million, which reflected the impact of net recoveries during the quarter and improving economic conditions. For the nine months ended September 30, 2021, the Company recorded a provision of $3.3 million as compared to a provision of $7.7 million for the nine months ended September 30, 2020. COVID-19 related full payment deferrals remained steady at $11.3 million, or 0.3% of total loans as of September 30, 2021. Principal only deferrals were $39.1 million, or 1.1% of total loans, as of September 30, 2021.

About Metropolitan Bank Holding Corp.

Metropolitan Bank Holding Corp. (NYSE: MCB) is the holding company for Metropolitan Commercial Bank. The Bank provides a broad range of business, commercial and personal banking products and services to small and middle-market businesses, public entities and affluent individuals in the New York metropolitan area. Founded in 1999, the Bank is headquartered in New York City and operates six locations in Manhattan, Brooklyn and Great Neck, Long Island. The Bank is also an active issuer of debit cards for third-party debit card programs and provides critical global payments infrastructure to its fintech partners. The Bank is a New York State chartered commercial bank and a Federal Reserve System member bank whose deposits are insured up to applicable limits by the FDIC, and an equal opportunity lender. For more information, please visit www.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 and business. 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 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 an unexpected deterioration in our loan or securities portfolios, unexpected increases in our expenses, greater than anticipated growth and our ability to manage our growth, unanticipated regulatory action or changes in regulations, unexpected changes in interest rates, an unanticipated decrease in deposits, an unanticipated loss of key personnel or existing customers, competition from other institutions resulting in unanticipated changes in our loan or deposit rates, unanticipated increases in FDIC costs, changes in regulations, legislation or accounting rules and unanticipated adverse changes in our customers’ economic conditions or general economic conditions, 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.

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Further, given its ongoing and dynamic nature, including the rate of vaccine acceptance and the development of new variants, it is difficult to predict the full impact of the COVID-19 outbreak on our business. The extent of such impact will depend on future developments, which are highly uncertain, including when the coronavirus can be controlled and abated and when and whether the continued reopening of businesses will result in a meaningful increase in economic activity. As the result of the COVID-19 pandemic and the related adverse local and national economic consequences, we could be subject to any of the following risks, any of which could have a material, adverse effect on our business, financial condition, liquidity, and results of operations: the demand for our products and services may decline, making it difficult to grow assets and income; if the economy is unable to substantially reopen, and higher levels of unemployment continue for an extended period of time, loan delinquencies, problem assets, and foreclosures may increase, resulting in increased charges and reduced income; collateral for loans, especially real estate, may decline in value, which could cause loan losses to increase; our allowance for loan losses may increase if borrowers experience financial difficulties, which will adversely affect our net income; the net worth and liquidity of loan guarantors may decline, impairing their ability to honor commitments to us; our cyber security risks may increase if a significant number of our employees are forced to work remotely; and FDIC premiums may increase if the agency experiences additional resolution costs. Forward-looking statements speak only as of the date of this release. We do not undertake any obligation to update or revise any forward-looking statement.

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Consolidated Balance Sheet

(dollars in thousands) Sept 30,<br><br> <br>2021 June 30, 2021 Mar  31, 2021 Dec 31,<br><br> <br>2020 Sept 30, 2020
Assets
Cash and due from banks $ 32,660 $ 29,651 $ 9,432 $ 8,692 $ 8,991
Overnight deposits 1,824,820 1,689,614 1,125,589 855,613 758,913
Total cash and cash equivalents 1,857,480 1,719,265 1,135,021 864,305 767,904
Investment securities available for sale 603,168 543,769 479,988 266,096 182,334
Investment securities held to maturity 2,017 2,222 2,492 2,760 3,050
Investment securities -- Equity investments 2,289 2,291 2,281 2,313 2,311
Total securities 607,474 548,282 484,761 271,169 187,695
Other investments 11,998 11,989 11,638 11,597 11,097
Loans, net of deferred fees and unamortized costs 3,603,288 3,449,490 3,237,664 3,137,053 2,989,550
Allowance for loan losses (38,121 ) (37,377 ) (35,502 ) (35,407 ) (33,614 )
Net loans 3,565,167 3,412,113 3,202,162 3,101,646 2,955,936
Receivables from global payments business, net 48,302 40,091 38,536 27,259 31,237
Accrued interest receivable 13,504 14,424 13,982 13,249 12,524
Premises and equipment, net 14,031 13,337 13,756 13,475 15,913
Prepaid expenses and other assets 13,565 17,959 13,392 18,388 9,720
Goodwill 9,733 9,733 9,733 9,733 9,733
Total assets $ 6,141,254 $ 5,787,193 $ 4,922,981 $ 4,330,821 $ 4,001,759
Liabilities and Stockholders' Equity
Deposits:
Non-interest-bearing demand deposits $ 2,803,823 $ 2,794,136 $ 2,167,899 $ 1,726,135 1,553,241
Interest-bearing deposits 2,653,746 2,494,137 2,258,818 2,103,471 1,974,385
Total deposits 5,457,569 5,288,273 4,426,717 3,829,606 3,527,626
Trust preferred securities 20,620 20,620 20,620 20,620 20,620
Subordinated debt, net of issuance cost 24,698 24,684 24,670 24,657 24,643
Secured Borrowings 35,559 36,449 36,475 36,964 32,224
Accounts payable, accrued expenses and other liabilities 38,129 30,598 42,737 61,645 37,014
Accrued interest payable 448 1,773 563 712 479
Prepaid third-party debit cardholder balances 21,577 21,201 22,802 15,830 30,569
Total liabilities 5,598,600 5,423,598 4,574,584 3,990,034 3,673,175
Class B preferred stock 3 3 3 3 3
Common stock 106 83 83 82 82
Additional paid in capital 382,922 219,098 217,384 218,899 218,360
Retained earnings 162,498 146,283 132,947 120,830 109,055
Accumulated other comprehensive gain, net of tax effect (2,875 ) (1,872 ) (2,200 ) 973 1,084
Total stockholders’ equity 542,654 363,595 348,217 340,787 328,584
Total liabilities and stockholders’ equity $ 6,141,254 $ 5,787,193 $ 4,922,801 $ 4,330,821 $ 4,001,759 
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Loan Production, Asset Quality & RegulatoryCapital

(dollars in thousands) Sept 30, 2021 June 30, 2021 Mar 31, 2021 Dec 31,<br><br> <br>2020 Sept 30, 2020
LOAN PRODUCTION $ 312.9 $ 265.4 $ 235.7 $ 174.0 $ 183.3
ASSET QUALITY
Non-performing loans:
Non-accrual loans:
Commercial real estate $ 9,984 $ — $ — $ — $ —
Commercial and industrial 3,145 3,337 3,337 4,192 4,512
Consumer 1,674 1,560 1,523 1,428 1,157
Total non-accrual loans 14,803 4,897 4,860 5,620 5,669
Total non-performing loans 15,376 5,491 5,464 6,389 6,623
Non-accrual loans to total loans 0.41 % 0.14 % 0.15 % 0.18 % 0.19 %
Non-performing loans to total loans 0.43 % 0.16 % 0.17 % 0.20 % 0.22 %
Allowance for loan losses (38,121 ) (37,377 ) (35,502 ) (35,407 ) (33,614 )
Allowance for loan losses to total loans 1.06 % 1.08 % 1.10 % 1.13 % 1.12 %
Charge-offs (54 ) — (855 ) (30 ) (82 )
Recoveries 308 — — 28 54
Net charge-offs/(recoveries) as to average loans (annualized) (0.03 )% — % 0.11 % — % — %
REGULATORY CAPITAL
Tier 1 Leverage:
Metropolitan Bank Holding Corp. 9.4 % 6.8 % 7.8 % 8.5 % 8.4 %
Metropolitan Commercial Bank 9.3 % 7.3 % 8.2 % 9.0 % 9.0 %
Common Equity Tier 1 Risk-Based (CET1):
Metropolitan Bank Holding Corp. 14.1 % 9.7 % 9.9 % 10.1 % 10.1 %
Metropolitan Commercial Bank 14.6 % 11.1 % 11.3 % 11.6 % 11.8 %
Tier 1 Risk-Based:
Metropolitan Bank Holding Corp. 14.8 % 10.5 % 10.7 % 10.9 % 11.0 %
Metropolitan Commercial Bank 14.6 % 11.1 % 11.3 % 11.6 % 11.8 %
Total Risk-Based:
Metropolitan Bank Holding Corp. 16.5 % 12.2 % 12.4 % 12.7 % 12.9 %
Metropolitan Commercial Bank 15.6 % 12.2 % 12.4 % 12.7 % 12.9 % 
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Consolidated Statement of Income (unaudited)

Three Months Ended Nine Months Ended
(dollars in thousands) Sept 30, 2021 June 30, 2021 Sept 30, 2020 Sept 30, 2021 Sept 30, 2020
Total interest income $ 45,018 $ 41,050 $ 35,945 $ 124,173 $ 106,236
Total interest expense 4,226 4,077 3,621 11,986 14,781
Net interest income 40,792 36,973 32,324 112,187 91,455
Provision for loan losses 490 1,875 1,137 3,315 7,693
Net interest income after provision for loan losses 40,302 35,098 31,187 108,872 83,762
Non-interest income:
Service charges on deposit accounts 1,671 1,349 863 4,085 2,746
Global payments revenue 3,615 3,628 2,572 10,509 6,301
Other service charges and fees 614 566 202 1,484 1,238
Unrealized gain (loss) on equity securities (9 ) 4 — (45 ) 55
Gain (loss) on sale of securities — 609 — 609 3,287
Total non-interest income 5,891 6,156 3,637 16,642 13,627
Non-interest expense:
Compensation and benefits 11,269 11,211 9,944 33,907 29,962
Bank premises and equipment 2,038 2,000 2,111 6,063 6,498
Professional fees 1,877 2,003 1,221 5,183 3,058
Technology costs 1,090 1,447 941 3,464 2,523
Licensing fees 2,201 2,067 2,019 6,342 7,703
Other expenses 3,509 2,961 2,694 9,036 6,984
Total non-interest expense 21,984 21,689 18,930 63,995 56,728
Net income before income tax expense 24,209 19,565 15,894 61,519 40,661
Income tax expense 7,994 6,229 5,111 19,851 12,971
Net income $ 16,215 $ 13,336 $ 10,783 $ 41,668 $ 27,690
Earnings per common share:
Average common shares outstanding - basic 8,618,973 8,312,234 8,222,870 8,402,594 8,220,202
Average common shares outstanding - diluted 8,893,104 8,543,474 8,393,211 8,636,397 8,392,055
Basic earnings $ 1.82 1.59 $ 1.30 $ 4.89 $ 3.34
Diluted earnings $ 1.77 1.55 $ 1.27 $ 4.76 $ 3.27 
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Performance Measures

Three months ended Nine Months Ended
(Dollars in thousands) Sept 30, 2021 June 30, 2021 Sept 30, 2020 Sept 30, 2021 Sept 30, 2020
Net income available to common shareholders 15,661 13,252 10,694 41,060 27,435
Per common share:
Basic earnings $ 1.82 $ 1.59 $ 1.30 $ 4.89 $ 3.34
Diluted earnings $ 1.77 $ 1.55 $ 1.27 $ 4.76 $ 3.27
Common shares outstanding:
Average - diluted 8,893,104 8,543,474 8,393,211 8,636,397 8,392,055
Period end 10,644,193 8,344,193 8,289,479 10,644,193 8,289,479
Return on (annualized):
Average total assets 1.09 % 0.97 % 1.07 % 1.04 % 0.98 %
Average equity 16.30 % 14.98 % 13.20 % 15.20 % 11.74 %
Average tangible common equity* 16.95 % 15.65 % 13.85 % 15.86 % 12.33 %
Yield on average earning assets 2.99 % 2.98 % 3.54 % 3.11 % 3.79 %
Cost of interest-bearing liabilities 0.64 % 0.67 % 0.71 % 0.66 % 0.99 %
Net interest spread 2.35 % 2.31 % 2.83 % 2.45 % 2.80 %
Net interest margin 2.70 % 2.68 % 3.18 % 2.81 % 3.26 %
Net charge-offs as % of average loans (annualized) (0.03 )% — % — % 0.02 % 0.02 %
Efficiency ratio 47.09 % 50.29 % 52.64 % 49.67 % 53.98 %

*Non-GAAP financial measure. See Reconciliation of Non-GAAP Measures starting on page 13.

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Interest Margin Analysis

Three months ended
September 30, 2021 June 30, 2021
Average Average
Outstanding Yield/Rate Outstanding Yield/Rate
(dollars in thousands) Balance Interest (annualized) Balance Interest (annualized)
Assets:
Interest-earning assets:
Loans ^(1)^ $ 3,566,852 $ 42,730 4.65 % $ 3,334,762 $ 39,234 4.65 %
Available-for-sale securities 538,115 1,454 1.06 % 487,147 1,204 0.98 %
Held-to-maturity securities 2,120 9 1.66 % 2,348 9 1.52 %
Equity investments - non-trading 2,316 6 1.01 % 2,309 7 1.20 %
Overnight deposits 1,738,102 666 0.15 % 1,612,187 442 0.11 %
Other interest-earning assets 11,991 153 5.06 % 11,985 154 5.15 %
Total interest-earning assets 5,859,496 45,018 2.99 % 5,450,738 41,050 2.98 %
Non-interest-earning assets 95,181 90,287
Allowance for loan and lease losses (38,129 ) (36,339 )
Total assets $ 5,916,548 $ 5,504,686
Liabilities and Stockholders' Equity:
Interest-bearing liabilities:
Money market, savings and other interest-bearing accounts $ 2,501,757 $ 3,524 0.56 % $ 2,314,791 $ 3,348 0.58 %
Certificates of deposit 82,628 192 0.92 % 83,606 217 1.04 %
Total interest-bearing deposits 2,584,385 3,716 0.57 % 2,398,397 3,565 0.60 %
Borrowed funds 45,309 510 4.40 % 45,296 512 4.47 %
Total interest-bearing liabilities 2,629,694 4,226 0.64 % 2,443,693 4,077 0.67 %
Non-interest-bearing liabilities:
Non-interest-bearing deposits 2,814,335 2,603,198
Other non-interest-bearing liabilities 77,732 100,698
Total liabilities 5,521,761 5,147,589
Stockholders' equity 394,787 357,097
Total liabilities and equity $ 5,916,548 $ 5,504,686
Net interest income $ 40,792 $ 36,973
Net interest rate spread ^(2)^ 2.35 % 2.31 %
Net interest-earning assets $ 3,229,802 $ 3,007,045
Net interest margin ^(3)^ 2.70 % 2.68 %
Ratio of interest earning assets to interest bearing liabilities 2.23 x 2.23 x
Total cost of funds ^(4)^ 0.31 % 0.32 %
(1) Amount includes deferred loan fees and non-performing loans.
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(2) Determined by subtracting the annualized average cost of<br>total interest-bearing liabilities from the annualized average yield on total interest-earning assets.
--- ---
(3) Determined by dividing annualized net interest income by<br>total average interest-earning assets.
--- ---
(4) Determined by dividing annualized interest expense by the<br>sum of total average interest-bearing liabilities and total average non-interest-bearing deposits.
--- --- 
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Three months ended
September 30, 2021 September 30, 2020
Average Average
Outstanding Yield/Rate Outstanding Yield/Rate
(dollars in thousands) Balance Interest (annualized) Balance Interest (annualized)
Assets:
Interest-earning assets:
Loans ^(1)^ $ 3,566,852 $ 42,730 4.65 % $ 2,946,359 $ 34,844 4.66 %
Available-for-sale securities 538,115 1,454 1.06 % 180,698 582 1.26 %
Held-to-maturity securities 2,120 9 1.66 % 3,181 14 1.71 %
Equity investments - non-trading 2,316 6 1.01 % 2,284 10 1.63 %
Overnight deposits 1,738,102 666 0.15 % 854,737 299 0.14 %
Other interest-earning assets 11,991 153 5.06 % 14,680 196 5.22 %
Total interest-earning assets 5,859,496 45,018 2.99 % 4,001,939 35,945 3.54 %
Non-interest-earning assets 95,181 57,545
Allowance for loan and lease losses (38,129 ) (33,118 )
Total assets $ 5,916,548 $ 4,026,366
Liabilities and Stockholders' Equity:
Interest-bearing liabilities:
Money market, savings and other interest-bearing accounts $ 2,501,757 $ 3,524 0.56 % $ 1,818,436 $ 2,258 0.49 %
Certificates of deposit 82,628 192 0.92 % 97,685 423 1.72 %
Total interest-bearing deposits 2,584,385 3,716 0.57 % 1,916,121 2,681 0.56 %
Borrowed funds 45,309 510 4.40 % 125,841 940 2.92 %
Total interest-bearing liabilities 2,629,694 4,226 0.64 % 2,041,962 3,621 0.71 %
Non-interest-bearing liabilities:
Non-interest-bearing deposits 2,814,335 1,583,037
Other non-interest-bearing liabilities 77,732 76,491
Total liabilities 5,521,761 3,701,490
Stockholders' equity 394,787 324,876
Total liabilities and equity $ 5,916,548 $ 4,026,366
Net interest income $ 40,792 $ 32,324
Net interest rate spread ^(2)^ 2.35 % 2.83 %
Net interest-earning assets $ 3,229,802 $ 1,959,977
Net interest margin ^(3)^ 2.70 % 3.18 %
Ratio of interest earning assets to interest bearing liabilities 2.23 x 1.96 x
Total cost of funds ^(4)^ 0.31 % 0.40 %
(1) Amount includes deferred loan fees and non-performing loans.
--- ---
(2) Determined by subtracting the annualized average cost of<br>total interest-bearing liabilities from the annualized average yield on total interest-earning assets.
--- ---
(3) Determined by dividing annualized net interest income by<br>total average interest-earning assets.
--- ---
(4) Determined by dividing annualized interest expense by the<br>sum of total average interest-bearing liabilities and total average non-interest-bearing deposits.
--- --- 
| 11 |

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Nine months ended
September 30, 2021 September 30, 2020
Average Average
Outstanding Yield/Rate Outstanding
(dollars in thousands) Balance Interest (annualized) Balance Interest Yield/Rate
Assets:
Interest-earning assets:
Loans ^(1)^ $ 3,365,602 $ 118,803 4.70 % $ 2,826,845 $ 100,655 4.75 %
Available-for-sale securities 453,105 3,409 0.99 % 179,845 2,536 1.85 %
Held-to-maturity securities 2,362 30 1.67 % 3,408 47 1.81 %
Equity investments - non-trading 2,309 21 1.20 % 2,274 32 1.85 %
Overnight deposits 1,485,994 1,453 0.13 % 707,125 2,266 0.43 %
Other interest-earning assets 11,864 457 5.15 % 18,189 700 5.06 %
Total interest-earning assets 5,321,236 124,173 3.11 % 3,737,686 106,236 3.79 %
Non-interest-earning assets 83,582 58,040
Allowance for loan and lease losses (36,820 ) (30,461 )
Total assets $ 5,367,998 $ 3,765,265
Liabilities and Stockholders' Equity:
Interest-bearing liabilities:
Money market, savings and other interest-bearing accounts $ 2,294,311 $ 9,779 0.57 % $ 1,742,611 $ 9,867 0.76 %
Certificates of deposit 84,363 673 1.07 % 99,805 1,497 2.00 %
Total interest-bearing deposits 2,378,674 10,452 0.59 % 1,842,416 11,364 0.82 %
Borrowed funds 45,296 1,534 4.47 % 157,729 3,417 2.85 %
Total interest-bearing liabilities 2,423,970 11,986 0.66 % 2,000,145 14,781 0.99 %
Non-interest-bearing liabilities:
Non-interest-bearing deposits 2,496,791 1,378,512
Other non-interest-bearing liabilities 80,838 71,210
Total liabilities 5,001,599 3,449,867
Stockholders' equity 366,399 315,398
Total liabilities and equity $ 5,367,998 $ 3,765,265
Net interest income $ 112,187 $ 91,455
Net interest rate spread ^(2)^ 2.45 % 2.80 %
Net interest-earning assets $ 2,897,266 $ 1,737,541
Net interest margin ^(3)^ 2.81 % 3.26 %
Ratio of interest earning assets to interest bearing liabilities 2.20 x 1.87 x
Total cost of funds ^(4)^ 0.33 % 0.58 %
(1) Amount includes deferred loan fees and non-performing loans.
--- ---
(2) Determined by subtracting the annualized average cost of<br>total interest-bearing liabilities from the annualized average yield on total interest-earning assets.
--- ---
(3) Determined by dividing annualized net interest income by<br>total average interest-earning assets.
--- ---
(4) Determined by dividing annualized interest expense by the<br>sum of total average interest-bearing liabilities and total average non-interest-bearing deposits.
--- --- 
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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 table:

Quarterly Data YTD
Dollars in thousands, except per share data Sept 30,<br><br><br><br>2021 **** June 30,<br><br><br><br>2021 **** Mar 31,<br><br><br><br>2021 Dec  31,<br><br><br><br>2020 Sept 30,<br><br><br><br>2020 Sept 30,<br><br><br><br>2021 Sept 30,<br><br><br><br>2020
Average assets $ 5,916,548 $ 5,504,686 $ 4,669,051 $ 4,153,908 $ 4,026,366 $ 5,367,998 $ 3,765,265
Less: average intangible<br> assets 9,733 9,733 9,733 9,733 9,733 9,733 9,733
Average tangible assets $ 5,906,815 $ 5,494,953 $ 4,659,318 $ 4,144,175 $ 4,016,633 $ 5,358,265 $ 3,755,532
Average equity $ 394,787 $ 357,097 $ 346,785 $ 335,940 $ 324,876 $ 366,399 $ 315,398
Less: Average preferred<br> equity 5,502 5,502 5,502 5,502 5,502 5,502 5,502
Average common equity $ 389,285 $ 351,595 $ 341,283 $ 330,438 $ 319,374 $ 360,897 $ 309,896
Less: average intangible<br> assets 9,733 9,733 9,733 9,733 9,733 9,733 9,733
Average tangible common<br> equity $ 379,552 $ 341,862 $ 331,550 $ 320,705 $ 309,641 $ 351,164 $ 300,163
Annualized return on average<br> tangible common equity* 16.95 % 15.65 % 14.82 % 14.61 % 13.85 % 15.86 % 12.33
Total assets $ 6,141,254 $ 5,787,193 $ 4,922,801 $ 4,330,821 $ 4,001,759 $ 6,141,254 $ 4,001,759
Less: intangible assets 9,733 9,733 9,733 9,733 9,733 9,733 9,733
Tangible assets $ 6,131,521 $ 5,777,460 $ 4,913,068 $ 4,321,088 $ 3,992,026 $ 6,131,521 $ 3,992,026
Total equity $ 542,654 $ 363,595 $ 348,217 $ 340,787 $ 328,584 $ 542,654 $ 328,584
Less: preferred equity 5,502 5,502 5,502 5,502 5,502 5,502 5,502
Common equity $ 537,152 $ 358,093 $ 342,715 $ 335,285 $ 323,082 $ 537,152 $ 323,082
Less: intangible assets 9,733 9,733 9,733 9,733 9,733 9,733 9,733
Tangible common equity (book<br> value) $ 527,419 $ 348,360 $ 332,982 $ 325,552 $ 313,349 $ 527,419 $ 313,349
Common shares outstanding 10,644,193 8,344,193 8,345,032 8,295,272 8,289,479 10,644,193 8,289,479
Book value per share (GAAP) $ 50.46 $ 42.92 $ 41.07 $ 40.42 $ 38.97 $ 50.46 $ 38.97
Tangible book value per<br> share <br><br> (non-GAAP)** $ 49.55 $ 41.75 $ 39.90 $ 39.25 $ 37.80 $ 49.55 $ 37.80
Total revenue (GAAP)*** $ 46,683 $ 43,129 $ 39,017 $ 33,467 $ 35,961 $ 128,829 $ 105,082
Gain on sale of securities $ — $ 609 $ — $ — $ — $ 609 $ 3,286
Revenue excluding gain on<br> sale of
securities (non-GAAP) $ 46,683 $ 42,520 $ 39,017 $ 33,467 $ 35,961 $ 128,220 $ 101,796
* Net income divided by average tangible comm equity annualized
--- ---
** Tangible book value divided by common shares outstanding at<br>period-end.
--- ---
*** Total revenue equals net interest income plus non-interest income.
--- --- 
| 13 |

| --- |

Quarterly Data YTD
Dollars in thousands Sept 30,<br><br> <br>2021 June 30,<br><br> <br>2021 Mar 31,<br><br> <br>2021 Dec 31,<br><br> <br>2020 Sept 30,<br><br> <br>2020 Sept 30,<br><br> <br>2021 Sept30,<br> <br>2020
Net income $ 16,215 $ 13,336 $ 12,117 $ 11,775 $ 10,783 41,668 $ 27,690
Plus: income tax expense 7,994 6,229 5,627 5,482 5,111 19,851 12,971
Income before income tax expense $ 24,209 $ 19,565 $ 17,744 $ 17,257 $ 15,894 61,519 $ 40,661
Plus: provision for loan losses 490 1,875 950 1,795 1,137 3,315 7,693
Pre-tax, pre-provision income $ 24,699 $ 21,440 $ 18,694 $ 19,052 $ 17,031 3,315 $ 7,693
Total non-interest expense (GAAP) $ 21,984 $ 21,689 $ 20,323 $ 17,788 $ 18,930 63,995 $ 56,728
Total Revenue (GAAP) $ 46,683 $ 43,129 $ 39,017 $ 36,840 $ 35,961 128,829 $ 105,082
Efficiency ratio (non-GAAP) 47.1 % 50.3 % 52.1 % 48.3 % 52.6 % 49.7 % 54.0 % 
| 14 |

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Exhibit 99.2

3Q 2021 Investor Presentation

Disclosure 1 This presentation 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 financial condition and capital ratios, results of operations and the Company's outlook and business. 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 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 those discussed under the heading "Risk Factors" in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as well as an unexpected deterioration in our loan portfolio, unexpected increases in our expenses, greater than anticipated growth and our ability to manage such growth, unanticipated regulatory action, unexpected changes in interest rates, an unanticipated decrease in deposits, an unanticipated loss of key personnel, an unanticipated loss of existing customers, competition from other institutions resulting in unanticipated changes in our loan or deposit rates, unanticipated increases in Federal Deposit Insurance Corporation costs and unanticipated adverse changes in our customers' economic conditions or economic conditions in our local area in general. Further, given its ongoing and dynamic nature, it is difficult to predict the full impact of the Coronavirus ("COVID-19") outbreak on our business. The extent of such impact will depend on future developments, which are highly uncertain, including when the coronavirus can be controlled and abated and when and how the economy may be reopened. As the result of the COVID-19 pandemic and the related adverse local and national economic consequences, we could be subject to any of the following risks, any of which could have a material, adverse effect on our business, financial condition, liquidity, and results of operations: the demand for our products and services may decline, making it difficult to grow assets and income; if the economy is unable to substantially reopen, and high levels of unemployment continue for an extended period of time, loan delinquencies, problem assets, and foreclosures may increase, resulting in increased charges and reduced income; collateral for loans, especially real estate, may decline in value, which could cause loan losses to increase; our allowance for loan losses may increase if borrowers experience financial difficulties, which will adversely affect our net income; the net worth and liquidity of loan guarantors may decline, impairing their ability to honor commitments to us; as the result of the decline in the Federal Reserve Board's target federal funds rate to near 0%, the yield on our assets may decline to a greater extent than the decline in our cost of interest-bearing liabilities, reducing our net interest margin and spread and reducing net income; our cyber security risks are increased as the result of an increase in the number of employees working remotely; and FDIC premiums may increase if the agency experience additional resolution costs. Forward-looking statements speak only as of the date of this presentation. We do not undertake any obligation to update or revise any forward-looking statement, whether the result of new information, future events or otherwise.

2 A Diversified Financial Institution We are More than a Commercial Bank Personal Banking Broad range of hallmark personal checking and savings accounts A full suite of electronic banking services that allow clients to easily manage their everyday financing needs Commercial Lending Relationship-based commercial real estate lending Growth driven by expertise in specific lending verticals Business Banking Checking, deposit, lending and cash management product and services for small and middle-market businesses MCB Business Bankers with deep knowledge and expertise in multiple industries, including law firms, resident healthcare, real estate property management, U.S. Trustee and municipalities Global Digital Payments Administers domestic and international digital payments settlement Delivers critical financial infrastructure Provides banking as a service to high growth FinTechs Our mission To offer a full range of banking and innovative financial services to businesses and individuals Serve markets underserved by the ever-consolidating financial services industry and advance our leading edge model that combines new technologies with the best of traditional banking practices Our history Founded in 1999 in New York City with the goal of helping clients build and sustain generational wealth Business model focused on providing high-touch service with industry expertise and delivering customized solutions for our clients Commercial banking business is relationship driven and predominantly located in the highly attractive New York metro area Global payments business provides banking as a service (“BaaS”) to leading financial technology companies 2017 IPO raised $125mm of common equity and fueled industry-leading balance sheet and earnings growth On September 15, 2021, MCB raised $172.5 million of common equity in a follow on offering of 2.3 million shares at $75 per share As of September 30, 2021, MCB has $6.1bn of assets; 38% compound annual growth rate since the IPO

Proven high growth business model 3 * Annualized 1 CAGR from December 31, 2015 through September 30, 2021 $821 $1,056 $1,421 $1,867 $2,678 $3,142 $3,603 2015 2016 2017 2018 2019 2020 3Q 2021 Loans $ millions $766 $994 $1,404 $1,661 $2,791 $3,830 $5,458 2015 2016 2017 2018 2019 2020 3Q 2021 Deposits $ millions $32 $43 $63 $83 $108 $142 $187 2015 2016 2017 2018 2019 2020 3Q 2021* Revenue $ millions $4 $5 $12 $26 $30 $39 $65 2015 2016 2017 2018 2019 2020 3Q 2021* Net Income $ millions

34.0% 19.9% 6.6% High-growth banks KRX Index 4 Revenue CAGR1 20172021Q3 Investors have been rewarded for our strong performance Tangible book value per share CAGR1 20172021Q3 Earnings per share CAGR1 20172021Q3 30.3% 31.0% 18.1% High-growth banks KRX Index Share price performance since IPO4 versus KRX Index3 17.3% 15.9% 7.7% High-growth banks KRX Index Source: SNL Financial 1 CAGR from December 31, 2017 through June 30, 2021 (if applicable for High-growth banks and KRX index) 2 Includes banks with market capitalization of $500mm+ and revenue, EPS, and TBVPS CAGRs >10%; Includes AX, BFC, CASH, FFIN, FFWM, FRC, HIFS, MBIN, MCB, PNFP, QCRH, SFBS, SIVB, and WAL at June 30, 2021 3 KRX index represents the KBW Regional Bank Index at June 30, 2021 4 Performance since November 7, 2017 (MCB offering price of $35.00 per share) through October 15, 2021 (60%) (20%) 20% 60% 100% 140% 180% Nov-17 Jul-18 Feb-19 Oct-19 Jun-20 Feb-21 Oct-21 High-growth banks KRX Index +150% +110% +19%

Delivering Financial Results 5 ROATCE* at December 31, except 2021, which is at September 30,1 10.46% 10.84% 11.27% 12.32% 16.95% 2017 2018 2019 2020 3Q 2021 *Non-GAAP financial measure. See reconciliation to GAAP measure on page 21. 1 Annualized Total Revenues at December 31, except 2021, which is at September 30, | $ thousands 1 CAGR from full year 2014 through full year 2020. $29,352 $40,563 $60,013 $78,744 $102,596 $133,460 $118,320 $2,568 $2,926 $3,369 $4,640 $5,643 $8,464 $10,509 2015 2016 2017 2018 2019 2020 3Q 2021 $128,829 $43,489 $63,382 $83,384 $108,239 $141,924 Global Payments Group ("GPG") Third Quarter Financial Highlights bull; Total revenues of $46.7 million, up 29.8% from the prior year quarter, and up 29.8% excluding gain on securities* recorded in each period. bull; Earnings per share of $1.77, up 39.1% from prior year quarter. bull; Tangible book value per share of $49.5, up 31.1% from prior year quarter. bull; Annualized return on average equity of 16.30% and annualized return on average tangible common equity ("ROATCE")* of 16.95%. bull; Deposits up 3.2% from the linked quarter and 54.7% from the prior year quarter. bull; Total loans up 4.5% from the linked quarter and 20.5% from the prior year quarter. QTD loans production of $312.9 million. bull; Efficiency ratio* of 47.1% compared to 54.0% for the prior year quarter. 12,117 6,097 8,531 6,291 2,548 13,336 6,057 10,811 5,865 2,651 16,215 10,783 7,683 7,113 3,845 11,775 7,863 6,285 3,236 2017 2018 2019 2020 2021 4Q 3Q 2Q 1Q Quarterly Net Income $ thousands Revenues Excluding GPG $31,920

Loan Portfolio Growth and Diversification 6 1 Includes commercial real estate, multifamily and construction loans. 2 Includes consumer and 1-4 family loans $3.61 billion Loan Portfolio at September 30, 2021 | $ millions A Diversified Portfolio at September 30, 2021 66% 17% 10% 4% 3% 66% CRE 17% CI 10% Multifamily 4% Construction 3% Other $1,692 $1,732 $1,778 $1,869 $2,014 2,122 $636 $620 $655 $679 $739 $780 $444 $527 $591 $587 $600 $611 $125 $116 $118 $108 $102 $97 2Q 2020 3Q 2020 4Q 2020 1Q 2021 2Q 2021 3Q 2021 $2,897 $2,995 $3,142 $3,243 $3,455 $3,610 Other2 CI Total CRE (Owner Occupied) Total CRE1 (Non-Owner Occupied) Total loans: $3,610mm Average 3Q Yield: 4.65% bull; CRE/RBC ratio: MCB 349%

Commercial Growth Driven by Expertise in Specific Lending Verticals 7 General Commercial and Industrial Overview Target Market bull; Middle market businesses with annual revenues below $200 million bull; Well-diversified across industries Key Metrics bull; Strong historical credit performance - Pledged collateral and/or personal guarantees from high-net-worth individuals support most loans - Target borrowers have strong historical cash flows, good asset coverage and positive industry outlooks CI Composition at September 30, 2021 28% 19% 17% 14% 13% 5% 2% 1% 1% 28% Finance Insurance 19% Healthcare 17% Skilled Nursing Facilities 14% Other 13% Retail 5% Wholesale 2% Manufacturing 1% Recreation Restaurants 1% Transportation Total CI loans: $595mm

Relationship-Based Commercial Real Estate Lending 8 Target Market bull; New York metropolitan area real estate entrepreneurs with a net worth in excess of $5 million bull; Primarily concentrated in the New York MSA bull; Well-diversified across various property types Key Metrics bull; Weighted average LTV of 62% bull; Average LTV of 36% on stabilized rent regulated properties provide a cushion against any falling values Composition by Type at September 30, 2021 Composition by Region at September 30, 2021 21% 20% 18% 10% 10% 6% 6% 4% 4% 1% 21% Other 20% Manhattan 18% Brooklyn 10% Bronx 10% Queens 6% Long Island 6% Florida 4% New Jersey 4% Other NY 1% Staten Island 1% Connecticut Majority of loans are originated through direct relationships or referrals from existing clients. 26% 13% 10% 12% 8% 7% 6% 6% 5% 3% 26% Nursing Home CRE 13% Multifamily 12% Other CRE 10% Mixed Use 8% Retail 7% Office 6% Hospitality 6% Land 5% Construction 3% Warehouse 2% 1-4 Family 2% Commercial Condo and Co-op Total CRE loans: $2,867mm

Well-Developed, Sector Diversified Healthcare Portfolio 9 bull; Active in Healthcare lending since 2002 bull; CRE Skilled Nursing Facilities ("SNF") Average LTV of 70% bull; Highly selective regarding the quality of Skilled Nursing Operators that we finance bull; Borrowers typically have over 1,000 beds under management bull; Loans are made primarily in "certificate of need" states which limits the supply of beds and supports stable occupancy rates. bull; Stabilized SNF 66% of CRE SNF portfolio. Stabilized facility provides adequate cash flows to support debt service and collateral value. Borrowers' primary motive for acquisition of a stabilized property is for synergies with existing portfolio of SNFs. Average debt service coverage ratio is 2.29x. bull; Non-stabilized SNF typically "turn-around" older SNFs acquired from owners who mismanaged the business, relied too heavily on long-term care (Medicaid reimbursement) or did not stay current with changes in the marketplace. Opportunity for owner to create value by renovating and adding services with higher Medicaid reimbursements rates (rehabilitation services, dialysis, etc.). C I Healthcare Composition at September 30, 2021 47% 37% 6% 5% 4% 1% 47% Nursing and Residential Care Facilities 37% Ambulatory Health Care Services 6% Doctor Office 5% Misc. Health Practitioners 4% Ambulance Services 1% Offices and Clinics of Dentists CRE Skilled Nursing Facilities (SNF) $762 million CI Skilled Nursing Facilities $98 million CI Other Healthcare (SNF) $111 million CRE SNF $762 million CI SNF $98 million CI Other $111 million Diversified Healthcare Portfolio at September 30, 2021 Total Healthcare loans: $971mm

Well-Developed, Geographically Diversified Skilled Nursing Facility Portfolio 10 CRE Skilled Nursing Facility Exposure by State CI Skilled Nursing Facility Exposure by State 56% 13% 12% 9% 4% 3%3% 56% New York 13% Pennsylvania 12% District of Columbia 9% New Jersey 4% Florida 3% Georgia, Indiana, Kentucky 29% 3% Virginia 16% 8% 8% 7% 5% 4% 4% 4% 4% 4% 3%3% 29% New York 16% Florida 8% Indiana 8% Other States 7% Pennsylvania 5% Virginia 4% New Jersey 4% Massachusetts 4% Kentucky 4% Tennessee 4% California 3% Wisconsin 3% Georgia 1% Maryland

Deposit Composition 11 1 Includes liquidation, receivership, litigation settlement and other fiduciary accounts. Deposit Composition Over Time at September 30, 2021 | $ millions $983 $927 $1,040 $1,254 $1,271 $1,320 $856 $813 $758 $901 $940 $940 $396 $436 $598 $708 $920 $1,044 $515 $601 $659 $651 $684 $796 $318 $389 $391 $555 $772 $857 $106 $97 $117 $241 $572 $368 $221 $220 $256 $116 $129 $132 2Q 2020 3Q 2020 4Q 2020 1Q 2021 2Q 2021 3Q 2021 $5,457 $3,395 $3,528 $3,819 $4,426 $5,288 Deposits $5.46 billion at Corporate Cash September 30, 2021 Management Deposits1 Digital Currency Customers - Global Payments Group Debit Cards - Global Payments Group Retail Deposits with Loan Customers Property Managers Bankruptcy Accounts Retail Deposits 47% 51% 2% 51% Non-interest-bearing demand deposits 47% Money market & savings account 2% Time deposits Total deposits: $5.46bn 3Q Cost of total deposits: 0.27%

Customer Centric Digital Payments Worldwide Global Payments Group 12 * Annualized 1 CAGR from December 31, 2017 through September 30, 2021 bull; Domestic and international digital payments settlements bull; Gateway to payment networks Wire, ACH, Visa, Mastercard, Remittance bull; Custodian of deposits on behalf of clients and their customers bull; Sponsorship for select clients as an extension of MCB's expertise and legal authority e.g., money transmitter, issuing bank, acquiring bank, lending activities About Global Payments $3,369 $4,640 $5,643 $8,464 $14,460 2017 2018 2019 2020 3Q 21* Non-Interest Income $ thousands % Global Payments Group Revenue (% of Total Bank Non-Interest Income ) 30% 38% 53% 50% 63% bull; Regulatory oversight by experienced MCB bankers with the expertise to deploy and manage regulatory compliance across a broad spectrum of client sectors including fintech, digital payments and money services businesses bull; Merchant Acquiring Services for the banked, underbanked and unbanked bull; A leading national issuer of third-party debit cards status bull; In addition to reported revenues, GPG also contributed average non-interest bearing deposits of $1.3 billion in the third quarter..ll

Customer Centric Digital Payments Worldwide Global Payments Group 13 Client Transactions at September 30, 2021 | Millions Customer $ Volume at September 30, 2021 | Billions $3.96 $3.85 $7.09 $18.65 2018 2019 2020 2021* 38.60 42.30 54.54 86.80 2018 2019 2020 2021* Highlights bull; 180 clients with offices on six continents. bull; More than 2 million active customers across 200 countries. bull; Over 65 million domestic and international transactions totaling $18.65 billions in 130 fiat and digital currencies and 120+ languages. bull; Strong customer $ volume growth across all product categories for the third quarter of 2021. * Annualized

Diversified Revenue Contribution Global Payments Group 14 Total Revenue by Category For the three months ended June 30, 2021 | Unaudited 39% 23% 12% 6% 9% 6% 5% 39% Crypto General Purpose Reloadable ("GPR") Cards 23% GPR Cards 12% Other 6% Crypto Exchange/OTC 9% Digital Bank Account 6% Corporate Disbursement 5% Disbursements Total Revenue by Category For the three months ended September 30, 2021 | Unaudited 35% 25% 13% 9% 7% 6% 5% 35% Crypto General Purpose Reloadable ("GPR") Cards 25% GPR Cards 13% Other 9% Crypto Exchange/OTC 7% Digital Bank Account 6% Corporate Disbursement 5% Disbursements *This represent clients for whom programs went live in 2021. bull; The charts above provide a linked quarter presentation of the Global Payments Group's revenue contribution by category. bull; The percentage of revenue from new clients* is 13%

Diversified Deposit Contribution Global Payments Group 15 Total Average Deposits by Category at September 30, 2021 | Unaudited 33% 12% 10% 12% 21% 7% 5% 33% Crypto Exchange/ OTC 12% GPR Cards 10% Digital Bank Account 12% Crypto GPR 21% Other 7% Corporate Disbursements 5% Disbursements 27% Crypto Exchange/OTC 16% GPR Cards 13% Digital Bank Account 13% Crypto GPR 11% Other 8% Corporate Disbursements 6% Disbursements Total Average Deposits by Category at June 30, 2021 | Unaudited 33% 16% 13% 13% 11% 8% 6% bull; The charts above provide a linked quarter presentation of the Global Payments Group's deposit contribution by category.

16 Well Managed Net Interest Margin 1 Represents full-year NIM, except 2021, which represents annualized NIM for the three months ended September 30, 2021 2 Represents full-year average, except 2021, which represents September 2021 YTD average Net Interest Margin Analysis 1.10% 1.91% 2.28% 0.54% 0.25% 3.52% 3.70% 3.46% 3.26% 2.70% 2017 2018 2019 2020 3Q 2021 MCB Net Interest Margin ("NIM")1 Average Fed Funds Rate2 Estimated Sensitivity of Projected Annualized Net Interest Income1 as of June 30, 2021 Fixed vs. Floating Rate Loans at September 30, 2020, for loans due after one year Fixed 58% Floating 42% -2.00% 8.34% 19.79% -100 bps +100 bps +200 bps Given thestrength ofourdeposit verticals and overnight liquidity, we are wellpositioned tobenefitfrom a rising interest rate environmentas wemaintain our margin management discipline. Approximately 69% of floating rate loans have floors Weighted average floor of 4.90%

Highly profitable, scalable model 17 bull; Annualized ^ This represents the percentage of total non-interest income (less any gains on sale of securities) as compared to total income. 1 These are non-GAAP financial measures. See reconciliation on slide 21 17.7% 14.1% 9.8% 9.9% 13.0% 2017 2018 2019 2020 3Q 2021 Fee income ratio1^ Efficiency ratio1 10.5% 10.8% 11.3% 12.9% 17.0% 2017 2018 2019 2020 3Q 2021* ROATCE1 52% 52% 55% 53% 47% 2017 2018 2019 2020 3Q 2021 Net Interest Margin 3.52% 3.70% 3.46% 3.26% 2.70% 2017 2018 2019 2020 3Q 2021*

Credit Metrics at September 30, 2021 18 NCOs/Average Loans (Annualized) Non-Performing Loans/Loans ALLL/Loans Non-Performing Loans/ALLL 0.32% -0.06% -0.13% 0.00% -0.03% 2017 2018 2019 2020 3Q 2021 1.05% 1.02% 0.98% 1.13% 1.06% 2017 2018 2019 2020 3Q 2021 0.24% 0.02% 0.17% 0.20% 0.43% 2017 2018 2019 2020 3Q 2021* 22.8% 1.5% 17.1% 18.0% 40.3% 2017 2018 2019 2020 3Q 2021 * The increase in the third quarter is driven by one CRE loan with an outstanding balance of $10.0 million and an LTV of 55.47%.

19.9% 17.0% 12.5% 12.7% 16.5% 2017 2018 2019 2020 3Q 2021 Capital ratios 19 Common Equity Tier 1 Capital Ratio Tier 1 Leverage Ratio Total Risk-Based Capital Ratio TCE / TA1 15.3% 13.2% 10.1% 10.1% 14.1% 2017 2018 2019 2020 3Q 2021 13.7% 13.7% 9.4% 8.5% 9.4% 2017 2018 2019 2020 3Q 2021 12.7% 11.5% 8.5% 7.5% 8.6% 2017 2018 2019 2020 3Q 2021 1 These are non-GAAP financial measures. See reconciliation on slide 21

Appendix 20

Reconciliation of GAAP to Non-GAAP Measures 21 *Tangible common equity divided by common shares outstanding at period-end 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 accompanying tables. $ thousands, except per share data Q3 2021 2020 2019 2018 2017 Average assets $ 5,367,998 $ 3,863,013 $ 2,846,959 $ 1,951,982 $ 1,524,202 Less: average intangible assets $ 9,733 $ 9,733 $ 9,733 $ 9,733 $ 9,733 Average tangible assets $ 5,358,265 $ 3,853,280 $ 2,837,226 $ 1,942,249 $ 1,514,469 Average equity $ 366,399 $ 320,617 $ 282,604 $ 251,030 $ 133,462 Less: Average preferred equity $ 5,502 $ 5,502 $ 5,502 $ 5,502 $ 5,502 Average common equity $ 360,897 $ 315,115 $ 277,102 $ 245,528 $ 127,960 Less: average intangible assets $ 9,733 $ 9,733 $ 9,733 $ 9,733 $ 9,733 Average tangible common equity $ 351,164 $ 305,382 $ 267,369 $ 235,795 $ 118,227 Total assets $ 6,141,254 $ 4,330,821 $ 3,357,572 $ 2,182,644 $ 1,759,855 Less: intangible assets $ 9,733 $ 9,733 $ 9,733 $ 9,733 $ 9,733 Tangible assets $ 6,131,521 $ 4,321,088 $ 3,347,839 $ 2,172,911 $ 1,750,122 Total Equity $ 542,654 $ 340,787 $ 299,124 $ 264,517 $ 236,884 Less: preferred equity $ 5,502 $ 5,502 $ 5,502 $ 5,502 $ 5,502 Common Equity $ 537,152 $ 335,285 $ 293,622 $ 259,015 $ 231,382 Less: intangible assets $ 9,733 $ 9,733 $ 9,733 $ 9,733 $ 9,733 Tangible common equity (book value) $ 527,419 $ 325,552 $ 283,889 $ 249,282 $ 221,649 Common shares outstanding $ 1 0,644,193 $ 8,295,272 $ 8,312,918 $ 8,217,274 $ 8,196,310 Book value per share (GAAP) $ 50.46 40.42 35.32 31.52 28.23 Tangible book value per share (non-GAAP)* $ 49.55 39.25 34.15 30.34 27.04 Year-To-Date $ thousands 30-Sep-21 30-Sep-20 Total Revenue (GAAP) $ 128,829 $ 105,082 Less: Gain on sale of securities $ 609 $ 3,286 Revenue excluding gain on sale of securities (non-GAAP) $ 128,220 $ 101,796 Efficiency ratio (non-GAAP) $ 49.67 $ 53.98 Fee Income ratio (non-GAAP) 12.62% 9.91% Year-To-Date

$11 $34 $56 $125 $172 $238 $304 $360 $390 $490 $494 $439 $410 $412 $494 $627 $810 $1,043 $1,405 $1,846 $2,647 $3,101 $3,565 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021Q3 Since our founding, we have delivered exceptional match-funded loan growth . . . 22 Net Loans since December 31, 1999 | $ millions Deposits since December 31, 1999 | $ millions 1 CAGR from December 31, 1999 through September 30, 2021 $10 $52 $69 $126 $184 $248 $316 $370 $349 $438 $449 $445 $464 $435 $492 $616 $766 $994 $1,404 $1,661 $2,791 $3,830 $5,457 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021Q3

A Diversified Financial Institution We are More than a Commercial Bank 23 How We Succeed 21-Years of Reliable Asset Quality and Financial Performance bull; Organic business loan origination platform bull; Core funded organic deposit franchise bull; Helping our clients build and sustain generational wealth since 1999 Our Strategic Priorities Enhance our position as a leader in the settlement of global and digital payments that brings people around the world closer together. Be the critical financial infrastructure for select fintechs to access our global payments settlement platform. Our Mission To offer a full range of banking and innovative financial services to businesses and individuals embracing the new digital banking era. Serve markets underserved by the ever-consolidating financial services industry and advance our leadingedge model that combines new technologies with the best of traditional banking practices.

Contributions to Deposits Global Payments Group 24 Total Average Deposits at September 30, 2021 | $ millions $391.4 $616.1 $410.3 $359.8 $709.3 $79.2 $571.5 2017 2018 2019 2020 3Q 2021 Crypto Deposits $439.0 $1,280.8 Growth in average deposits in the second quarter of 2021 driven by increases across all GPG product categories.

Delivering Critical Financial Infrastructure, Every Day Global Payments Group 25 bull; Domestic and international digital payments settlements, every day bull; Gateway to payment networks Wire, ACH, Visa, Mastercard, Remittance, every day bull; Custodian of deposits on behalf of clients and their customers, every day bull; Sponsorship for select clients as an extension of MCB's expertise and legal authority e.g., money transmitter, issuing bank, acquiring bank, lending activities, every day bull; Regulatory oversight by experienced MCB bankers with the expertise to deploy and manage regulatory compliance across a broad spectrum of client sectors including fintech, digital payments and money services businesses, every day bull; Merchant Acquiring Services for the banked, underbanked and unbanked, every day bull; A leading national issuer of third-party debit cards status, every day Digital payment platforms are the underpinnings of E-commerce E-commerce 1.0 was about selling goods, starting with Dell.com and Book Stacks Unlimited in the early 1990s. E-commerce 2.0 is about buying, selling and connecting a limitless array of products and services with desktop and mobile devices: bull; Video, movies, TV programs, music, books, podcasts and news streaming services bull; DIY online learning from around the corner to around the world; how to knit to PhD bull; Global gig work opportunities bull; Tickets to in-person and virtual sporting and entertainment events bull; Grocery and prepared meals delivered The list goes on and on...

Delivering Critical Financial Infrastructure, Every Day 26 U.S. Treasury Government Payments Pension Companies Public and Private Pension Payments Law Firms Payouts for Legal Settlements Other Load Types MG, WU, GD, VRL, MCR Direct Deposits/ ACH Loads Network Loads WU, MG GD Corporate Prefund Adjustment Account Charge Back Disputes or Provisional Credits Program Revenue Account Program's Revenue Operating Account Net Network Settlement Cardholder Activity MCB Settlement Account Net of Fees (Program Earnings and Expenses) MCB Pooled Funds Account MCB Revenue Account MCB's Revenue MCB Reserve Account Extraordinary Events MCB Prepaid Invoice Account External Activity MCB Owned Moved by External Party Program Owned Moved by MCB MCB Clients Moved by External Party Global Payments Group

Client Case Study Global Payments Group 27 "The B2B and B2C infrastructure Broxel has built in Mexico combined with MCB's total support infrastructure in the United States is the blueprint for our mutual success." Gustavo Gutierrez Broxel Overview Broxel is a FinTech leader founded in 2011 and based in Mexico City, Mexico. The Company is an innovator of tailor-made payments solutions that create efficient, agile, disruptive and available financial B2B and B2C ecosystems anywhere in the world. broxel.com/us-en/ Leadership Gustavo Gutierrez, CEO and Founder Vision We will transform money into something more valuable. Markets Mexico, United States Hispanic Primary Business Broxel offers prepaid debit cards and a mobile app that accepts direct deposits and can make payments online and at retail locations in MXN and USD. Broxel is a Mexican company that is always looking out for the Hispanic community living in the United States. Metropolitan Commercial Bank Global Payments Group bull; Broxel has been a client since 2018 bull; Mobile app-based bank account and card that works as a remittance product

Client Case Study Global Payments Group 28 CIBanco Overview Consultoria Internacional (CI) was established in 1983 and became known as CIBanco in 2008. CIBanco became a signatory of the Equator Principles from the World Bank in 2012 in response to the environmental challenges that the world is facing. Aligned with a renewed corporate philosophy CIBanco became the first green bank in Mexico to provide sustainable financial solutions. CIBanco, CICasa de Bolsa, CIFondos de Inversion, Finamadrid, are wholly-owned subsidiaries of Tenedora CI, S. A. de C.V. Financial Group. cibanco.com Leadership Jorge Rangel de Alba Brunel, Chairman of the Board Norman Hagemeister Rey, Chief Executive Director and Board Member Luis Miguel Osio Barroso, Chief Executive Director and Board Member Salvador Arroyo Rodriguez, Chief Executive Director and Board Member Mario Maciel Castro, CEO Vision To stand apart from traditional vertically integrated banks in specific niches that favor sustainability through unparalleled service, reliability, security and leadership. Markets Mexico, United States Hispanic | Spain and Latin America Primary Business Mexico-based bank providing banked, unbanked and underbanked financial service, leaders in Trust Funds, FX Foreign Trade Units. Financial services including auto loans, trust funds, online and mobile banking, currency and investment options, and lines of credit, in and outside of Mexico. CIBanco serves "SME", large and corporate entities and individuals providing all financial services, settling electronic and wire transfers "from" and "to" the U.S.; thanks to its "export and import profile" and the commercial relevance between both countries and the world. Metropolitan Commercial Bank Global Payments Group bull; CIBanco has been a client since 2019 bull; Mobile app-based bank account and card that works as a remittance product "Metropolitan Commercial Bank has demonstrated from the very beginning and throughout the journey, collaboration between institutions outside the transactional scope suggests a long-term relationship, in which there is trust to point out everything right or wrong; seeking to consolidate a bilateral and joint reputation. It is not every day you have the openness and willingness to grow and mature with a partner who is on your side while committing to each entity daily." Luis Miguel Osio Barroso

Client Case Study Global Payments Group 29 Mesh Payments Overview Corporate HQ New York, NY, International office Tel Aviv, Israel; 20+ employees, privately held company founded in 2018 with VC backers and a recent round of favorable financing; strong growth in the virtual card space, which is a fraction of the corporate card space. meshpayments.com Leadership Globally recognized payment and technology leaders. Oded Zehavi, CEO and Co-founder bull; Before Mesh: COO, Kaymera Technologies; Payoneer, Chief Revenue Officer; PayPal, Director Global Business Development bull; Board Member: ReWire.tp; Advisory Board Member: Fiverr, AU10TIX, CreditStacks Vision Re-writing the way corporate payments are made. One-stop hub to orchestrate, manage, analyze and optimize, reconcile, and reduce their corporate spend and subscription payments. Markets Global B2B cardless payments. Primary Business Cardless corporate payments solutions via virtual cards bull; SaaS (software as a service) subscriptions bull; On-Demand to employees and gig workers bull; Payment intelligence manage corporate spending and protect companies from failed payment risks bull; Receipt Automation collects and matches digital receipts automatically for all tracked payments. bull; Accounting Integrations works with existing accounting software Metropolitan Commercial Bank Global Payments Group bull; Mesh Payments has been a client since 2018 bull; MCB holds deposits on behalf of Mesh Payments' clients bull; MCB provides Mesh Payments with access to ACH and wire payment systems bull; MCB sponsors Mesh Payments' Visa branded virtual cards "Metropolitan Commercial Bank checks all the boxes when it comes to innovation mindset and execution and strong relationships and fintech support." Oded Zehavi

Client Case Study Global Payments Group 30 Revolut Overview bull; A global fintech financial services company bull; Corporate HQ London, England bull; International offices including Asia, Europe and Oceania bull; North American offices, San Francisco, CA and New York, NY bull; 2,000+ employees revolut.com/en-US Leadership Revolut, Martin Gilbert, Chairman; Nik Storonsky, CEO and Co-founder; Vlad Yatsenko, CTO and Co-founder Revolut USA, Ronald Oliveira, CEO since November 2019 The Company's executive leadership is a Who's Who of global fintech and finance superstars. Vision Revolut is building the world's first truly global financial super app. Markets Global, individuals and businesses Primary Business Around the world use dozens of Revolut's innovative banking, investment and wealth management products to make more than 100 million transactions a month. Across Revolut's personal and business accounts, the Company helps customers improve their financial health, give them more control, and connect people seamlessly across the world. Metropolitan Commercial Bank Global Payments Group bull; Revolut has been a client since 2018 bull; MCB holds deposits on behalf of Revolut's clients bull; MCB provides Revolut with: bull; Access to ACH and wire payment systems bull; Correspondent relationships for FX services bull; Tailored solutions for Revolut clients in other jurisdictions bull; MCB sponsors Revolut card processing services for its Visa and MasterCard products "Metropolitan Commercial Bank is not only a bank with excellent financial health, a deep bench of experienced fintech bankers and a track record across a wide arena of fintech sectors, their people listen and are open to new and interesting banking solutions." Ronald Oliveira

Client Case Study Global Payments Group 31 Voyager Digital, Ltd CSE: VYGR. CN Overview Voyager: The Fastest-Growing Digital Asset Broker Voyager's team of established Wall Street and Silicon Valley entrepreneurs is eliminating the roadblocks that currently exist in digital trading. The Company's goal is to bring the best of the traditional equities' world to crypto, while still delivering the innovation this exciting new asset class deserves. investvoyager.com Leadership Stephen Ehrlich, Chief Executive Officer, Co-Founder Philip Eytan, Chairman, Co-Founder Gaspard de Dreuzy, Co-Founder Oscar Salazar, Advisor, Co-Founder Voyager's founders have combined their decades of experience from leading organizations like E*TRADE, Uber, TradeIt, Lightspeed Financial and more, to bring Voyager to the crypto investing universe. Vision Voyager believes that crypto assets are the future of finance and investing. The Company is creating the broker that the crypto market deserves. Markets Voyager is based in New York and serves retail and institutional clients in Canada and the United States. Voyager's mission is to provide every investor with a trusted and secure access point to crypto asset trading. Primary Business Crypto trading solutions, built for retail and institutional businesses. Voyager offers best-in-class customer service, incomparable access to the most popular assets and commission-free trading. Metropolitan Commercial Bank Global Payments Group bull; Voyager has been a client since 2019 bull; MCB provides depository relationship for client funds bull; MCB provides access to ACH and wire payment networks "Voyager partners with companies that bring their A-game every day through technology and human capital. Proximity is a bonus when synergy amongst team members is seamless. Metropolitan Commercial Bank has been the right choice for us since day one." Stephen Ehrlich

Partner with the Leading Processors and Payment Processing Networks, Every Day Global Payments Group 32 Leading Processors Leading Payment Processing Networks

Who Are Our Payment Clients? 33 Global Payments Group

Tending to Our Diverse Digital Payment Products Ecosystem, Every Day Global Payments Group 34 Illustrative photography and captions, not actual customers. Accounts Payable/ Expense Management ACH Processing and Settlement Bill Payment Card Present Debit Card Claim Handling and Processing Digital Assets Settlement E-Wallet Debit Card Government Benefits Settlement International Remittance Loan Advance / Payment Settlement Merchant Acquiring Mobile Payment Settlement Due cappuccino date night with my prefunded e-wallet watch app in Naples, Italy. I don't know how it's done but I am glad my phone helps me travel around with ease. Peer-To-Peer (P2P) Payments Push Payments Real Time Domestic and International Rebate Settlement Virtual Debit Card Traveling through southeast Asia and never worrying about having the right currency. Credit score is up so now I can get approved for a new car and visit my folks in Ontario. Sent my sister money to pay for books at St. George's University in Granada. My benefit payments arrive like clockwork to my debit card every month. Easy peazy. Morning coffee with my loyalty rewards prepaid debit card in Seattle, Washington. Paying in for Sally's wedding gift was easier than deciding what the gift should be. Traded in my wallet for paying mobile. More space in my purse for makeup. Foreign travel is exciting, not having to think about exchange rates is joyful. Now I can view and comment on everyone's expenses no matter where they are. Getting paid in Bitcoin and having it converted to Euros instantly, sweeeet! This auto insurance claim app is a snap to use. No more needless repair estimates. I really enjoy the security of my debit card over cash. A feeling of safety I was missing. Check writing, stamps, check registers, so yesterday. Billpay app happy to meet you. Our international business runs smoother when we are paid digitally.

Securing Our Place in a Diverse Digital Payment Industry Complex, Every Day Global Payments Group 35 Illustrative photography and captions, not actual customers. Auto Consumer Lending Corporate Accounts Payable Management Corporate Payroll Correspondent Banking Criminal Justice and Corrections Crypto Currency Financial Services to the Unbanked/Underbanked Foreign Exchange Government Payments Healthcare Co-Pay Hospitality Merchant Acquiring Mobile Banking Online Gambling Online Gaming Travel Trucking Pharmaceutical Prepaid Phonecards

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