Metropolitan Bank Holding Corp. Files 10-Q for Q1 2024

TL;DR

<b>Metropolitan Bank Holding Corp. filed its Q1 2024 10-Q, detailing financial performance and equity changes.</b>

AI Summary

Metropolitan Bank Holding Corp. (MCB) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Metropolitan Bank Holding Corp. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. The company's fiscal year ends on December 31. The filing includes data related to common stock, restricted stock, and employee stock options. Key financial statement components like retained earnings and additional paid-in capital are detailed for multiple periods.

Why It Matters

For investors and stakeholders tracking Metropolitan Bank Holding Corp., this filing contains several important signals. This 10-Q provides investors with a quarterly update on the financial health and operational performance of Metropolitan Bank Holding Corp. The detailed breakdown of equity components and stock-related awards offers insight into executive compensation and shareholder value.

Risk Assessment

Risk Level: low — Metropolitan Bank Holding Corp. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags, indicating a routine disclosure.

Analyst Insight

Monitor future filings for trends in equity, net income, and asset growth to assess Metropolitan Bank Holding Corp.'s ongoing financial trajectory.

Key Numbers

• 2024-03-31 — Period of Report (Quarterly filing date)
• 2024-05-03 — Filing Date (Date the report was submitted)
• 1231 — Fiscal Year End (Annual closing date for financial reporting)
• 6022 — SIC Code (Standard Industrial Classification for Commercial Banks)

Key Players & Entities

• Metropolitan Bank Holding Corp. (company) — Filer name
• MCB (company) — Ticker symbol
• 2024-05-03 (date) — Filing date
• 2024-03-31 (date) — Period of report
• 99 PARK AVENUE (address) — Business address
• NEW YORK (location) — Business address city
• NY (location) — Business address state
• 10016 (postal_code) — Business address zip

FAQ

Industry Context

Metropolitan Bank Holding Corp. operates within the commercial banking sector, providing financial services.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including quarterly reporting requirements under the 1934 Act.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Analyze trends in key financial metrics such as assets, liabilities, and equity over subsequent quarters.
3. Compare Metropolitan Bank Holding Corp.'s performance against industry peers.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q
• 2024-05-03: Filing Date — Date the 10-Q was officially submitted to the SEC

Year-Over-Year Comparison

This is the first 10-Q filing for the 2024 fiscal year, providing an update from the previous year-end report.

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share MCB New York Stock Exchan

Filing Documents

• mcb-20240331x10q.htm (10-Q) — 3810KB
• mcb-20240331xex31d1.htm (EX-31.1) — 12KB
• mcb-20240331xex31d2.htm (EX-31.2) — 13KB
• mcb-20240331xex32.htm (EX-32) — 9KB
• 0001558370-24-006655.txt (&nbsp;) — 17681KB
• mcb-20240331.xsd (EX-101.SCH) — 53KB
• mcb-20240331_cal.xml (EX-101.CAL) — 83KB
• mcb-20240331_def.xml (EX-101.DEF) — 325KB
• mcb-20240331_lab.xml (EX-101.LAB) — 470KB
• mcb-20240331_pre.xml (EX-101.PRE) — 468KB
• mcb-20240331x10q_htm.xml (XML) — 5261KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) Consolidated Statements of Financial Condition 6 Consolidated Statements of Operations 7 Consolidated Statements of Comprehensive Income 8 Consolidated Statements of Changes in Stockholders' Equity 9 Consolidated Statements of Cash Flows 10 Notes to Unaudited Consolidated Financial Statements 11

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 32

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 41

Controls and Procedures

Item 4. Controls and Procedures 43

OTHER INFORMATION

PART II. OTHER INFORMATION 44

Legal Proceedings

Item 1. Legal Proceedings 44

Risk Factors

Item 1A. Risk Factors 44

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 44

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 44

Other Information

Item 5. Other Information 44

Exhibits

Item 6. Exhibits 45

Signatures

Signatures 46 2 Table of Contents GLOSSARY OF COMMON TERMS AND ACRONYMS ACL Allowance for Credit Losses FHLBNY Federal Home Loan Bank of New York AFS Available-for-sale FRB Federal Reserve Bank ALCO Asset Liability Committee FRBNY Federal Reserve Bank of New York ALLL Allowance for loan and lease losses FX Foreign exchange AOCI Accumulated Other Comprehensive Income GAAP U.S. Generally accepted accounting principles ASC Accounting Standards Codification GPG Global Payments Group ASU Accounting Standards Update HTM Held-to-maturity Bank Metropolitan Commercial Bank IRR Interest rate risk BHC Act Bank Holding Company Act of 1956, as amended ISO Incentive stock option BSA Bank Secrecy Act JOBS Act The Jumpstart Our Business Startups Act C&I Commercial and Industrial LIBOR London Inter-Bank Offered Rate CARES Act Coronavirus Aid, Relief, and Economic Security Act LTV Loan-to-value CECL Current Expected Credit Loss MBS Mortgage-backed securities CFPB Consumer Financial Protection Bureau NYSDFS New York State Department of Financial Services Company Metropolitan Bank Holding Corp. OCC Office of the Comptroller of the Currency Coronavirus COVID-19 OTTI Other-than-temporary impairment CRA Community Reinvestment Act PPP Paycheck Protection Program CRE Commercial real estate PRSU Performance Restricted Share Units CRE Guidance Commercial Real Estate Lending, Sound Risk Management Practices ROU Right of Use DIF Deposit Insurance Fund SEC U.S. Securities and Exchange Commission EGC Emerging Growth Company SOFR Secured Overnight Financing Rate EVE Economic value of equity TDR Troubled debt restructuring FASB Financial Accounting Standards Board USD U.S. Dollar FDIC Federal Deposit Insurance Corporation FHLB Federal Home Loan Bank 3 Table of Contents NOTE ABOUT FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q m

View Full Filing

View this 10-Q filing on SEC EDGAR