Metropolitan Bank Holding Corp. (MCB) Financial Statements (2024 and earlier)

Company Profile

Business Address 99 PARK AVENUE
NEW YORK, NY 10016
State of Incorp. NY
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

6/30/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments269,465257,4182,359,350866,618393,445232,950
Cash and cash equivalents269,465257,4182,359,350864,305391,221232,950
Short-term investments   2,3132,224 
Total current assets:269,465257,4182,359,350866,618393,445232,950
Noncurrent Assets
Operating lease, right-of-use asset 42,24544,339   
Property, plant and equipment 35,06531,86915,11613,47512,1006,877
Intangible assets, net (including goodwill) 9,7009,7009,7339,7339,7339,733
Goodwill 9,7009,7009,7339,7339,7339,733
Total noncurrent assets: 87,01085,90824,84923,20821,83316,610
Other undisclosed assets6,711,1975,924,0114,732,1593,440,9952,942,2941,933,084
TOTAL ASSETS:7,067,6726,267,3377,116,3584,330,8213,357,5722,182,644
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt     144,000185,000
Total current liabilities:     144,000185,000
Noncurrent Liabilities
Long-term debt and lease obligation  137,600137,000   
Long-term debt, excluding current maturities  137,600137,000   
Total noncurrent liabilities:  137,600137,000   
Other undisclosed liabilities6,408,6515,553,8406,422,3693,990,0342,914,4481,733,127
Total liabilities:6,408,6515,691,4406,559,3693,990,0343,058,4481,918,127
Equity
Equity, attributable to parent, including:659,021575,897556,989340,787299,124264,517
Preferred stock      3
Common stock111109109828282
Additional paid in capital395,871389,276382,999218,899216,468213,490
Accumulated other comprehensive income (loss)(52,936)(54,298)(7,504)9731,207(473)
Retained earnings315,975240,810181,385120,83081,36451,415
Other undisclosed equity, attributable to parent    33 
Total equity:659,021575,897556,989340,787299,124264,517
TOTAL LIABILITIES AND EQUITY:7,067,6726,267,3377,116,3584,330,8213,357,5722,182,644

Income Statement (P&L) ($ in thousands)

6/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues
(Net Investment Income)
347,561248,425170,974140,551122,04179,107
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(12,283) (3,816)(9,488)(4,223)(3,138)
Gross profit:335,278248,425167,158131,063117,81875,969
Operating expenses(32,348)(27,991)(20,006)(12,462)(20,949)(7,985)
Other operating income, net
(Noninterest Income, Other Operating Income)
   23,69717,00310,62912,156
Operating income:302,930220,434170,849135,604107,49880,140
Nonoperating income
(Other Nonoperating income)
2,8271,505    
Interest and debt expense(152,569)(31,581)(16,283)(18,176)(32,170)(12,717)
Income from continuing operations before equity method investments, income taxes:153,188190,358154,566117,42875,32867,423
Other undisclosed loss from continuing operations before income taxes(46,270)(93,460)(64,996)(59,510)(31,267)(30,648)
Income from continuing operations before income taxes:106,91896,89889,57057,91844,06136,775
Income tax expense(29,650)(37,473)(29,015)(18,452)(13,927)(11,221)
Income from continuing operations:77,26859,42560,55539,46630,13425,554
Income before gain (loss) on sale of properties:60,55539,46630,13425,554
Net income attributable to parent:77,26859,42560,55539,46630,13425,554
Undistributed earnings (loss) allocated to participating securities, basic(365)(141)(739)(344)(448)(168)
Net income available to common stockholders, diluted:76,90359,28459,81639,12229,68625,386

Comprehensive Income ($ in thousands)

6/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:77,26859,42560,55539,46630,13425,554
Other comprehensive income (loss)1,362(46,794)(8,477)(234)1,612(353)
Comprehensive income:78,63012,63152,07839,23231,74625,201
Other undisclosed comprehensive income, net of tax, attributable to parent      86
Comprehensive income, net of tax, attributable to parent:78,63012,63152,07839,23231,74625,287

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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