Quarterly ResultMay 8, 2026, 04:17 PM
Metropolitan Bank Q1 Net Income +92% to $31.4M; EPS $2.94
AI Summary
Metropolitan Bank Holding Corp. reported a significant increase in net income for the first quarter of 2026, rising 92.1% to $31.4 million, with diluted earnings per share more than doubling to $2.92. This strong performance was driven by a 28.3% increase in net interest income and a negative provision for credit losses, which included a $6.4 million reduction due to an accounting estimate change. The company also experienced growth in total assets, net loans, and deposits, and declared a cash dividend of $0.20 per share.
Key Highlights
- Net income increased 92.1% to $31.4 million for Q1 2026.
- Diluted earnings per share rose 101.4% to $2.92 for Q1 2026.
- Net interest income grew 28.3% to $85.9 million in Q1 2026.
- Provision for credit losses was a negative $2.3 million in Q1 2026.
- Accounting estimate change decreased provision for credit losses by $6.4 million ($0.43 per basic EPS).
- Total assets increased to $8.84 billion at March 31, 2026, from $8.26 billion at December 31, 2025.
- Total deposits increased to $7.74 billion at March 31, 2026, from $7.38 billion at December 31, 2025.
- Cash dividend of $0.20 per share declared on common stock.
Price Impact
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