Metropolitan Bank Holding Corp · Q3 2020 earnings

Briefing

Reported net income and diluted EPS for the third quarter of 2020.

Metropolitan Bank Holding Corp. reported a net income of $10.8 million, or $1.27 per diluted common share, for the third quarter of 2020, compared to a net income of $7.7 million, or $0.90 per diluted common share, for the third quarter of 2019.

• Annualized return on average assets was 1.07% for the three months ended September 30, 2020.
• Return on average equity was 13.20% for the third quarter of 2020, an increase of 257 basis points from the third quarter of 2019.
• Net interest margin held steady at 3.18% for the third quarter of 2020, as compared to 3.19% for the linked quarter.
• Asset quality continued to be strong with non-performing loans as a percentage of loans outstanding declining by 7 basis points to 22 basis points at September 30, 2020, as compared to 29 basis points at June 30, 2020.

Headline financials

Revenue & EPS history

This release contains forward-looking statements that relate to future events or our future financial performance and involve risks and uncertainties. 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 gradual reopening of businesses will result in a meaningful increase in economic activity.