MCB · Metropolitan Bank Holding Corp.

Metropolitan Bank Holding Corp. delivered robust Q1 2026 results with net income rising to $31.4 million from $28.9 million in Q4 2025 and $16.4 million in Q1 2025, driven by net interest income growth to $85.9 million, up modestly quarter-over-quarter despite elevated Q4 payoffs offset by $428.3 million in new originations, and up 28.3% year-over-year from higher average loan balances, overnight deposits, and lower cost of funds (down to 261 basis points from 319 bps YoY). NIM held steady at 4.08% QoQ but expanded 40 bps YoY, reflecting disciplined loan pricing at 7.18% average yield and funding optimization in a declining short-term rate environment. Non-interest income dipped to $2.6 million due to absence of prior period gains and fees, while non-interest expense rose to $46.4 million from higher compensation, deposit fees, and technology investments, yielding a 52.4% efficiency ratio. Asset quality showed non-performing loans at 1.01% of total loans (down QoQ post $12.5 million charge-offs but up YoY from a CRE multi-family addition), with allowance for credit losses at $82.1 million and a $2.6 million provision release. Balance sheet expanded prudently with loans to $7.0 billion (91% of deposits), led by $233.1 million CRE growth QoQ, and deposits to $7.7 billion across verticals, maintaining 200% liquidity coverage of uninsured deposits. The $186.8 million net proceeds from a 2.3 million share offering at $85.00 bolstered capital to 14.6% total risk-based (CET1 13.2%), reducing non-owner-occupied CRE concentration to 299.5%. CEO Mark DeFazio highlighted disciplined management, core client growth, and confidence via the dividend hike to $0.25/share, positioning for sustainable expansion amid strong returns (ROAE 15.4%, ROATCE 15.6%). No forward guidance provided.