Metropolitan Bank | 10-Q: FY2025 Q3 Revenue: USD 134.53 M

Revenue: As of FY2025 Q3, the actual value is USD 134.53 M.

EPS: As of FY2025 Q3, the actual value is USD 0.67, missing the estimate of USD 1.8967.

EBIT: As of FY2025 Q3, the actual value is USD 64.87 M.

Segment Revenue

• Interest and Dividend Income: Total interest income for the third quarter of 2025 was $132.0 million, an increase from $120.5 million in the third quarter of 2024.
• Non-Interest Income: Non-interest income decreased to $2.5 million for the third quarter of 2025 from $6.3 million in the third quarter of 2024, primarily due to the absence of Global Payments Group revenue.

Operational Metrics

• Net Income: Net income for the third quarter of 2025 was $7.1 million, a decrease from $12.3 million in the third quarter of 2024.
• Net Interest Margin: Net interest margin for the third quarter of 2025 was 3.88%, compared to 3.62% for the third quarter of 2024.
• Provision for Credit Losses: The provision for credit losses for the third quarter of 2025 was $23.9 million, reflecting provisioning for a single out-of-market CRE multi-family loan relationship and changes in macroeconomic variables.

Cash Flow

• Operating Cash Flow: Net cash provided by operating activities for the nine months ended September 30, 2025 was $57.9 million.
• Investing Cash Flow: Net cash used in investing activities for the nine months ended September 30, 2025 was - $738.6 million.
• Financing Cash Flow: Net cash provided by financing activities for the nine months ended September 30, 2025 was $866.3 million.

Unique Metrics

• Loan Portfolio: Total loans, net of deferred fees and unamortized costs, were $6.8 billion at September 30, 2025, an increase of $747.6 million from December 31, 2024.
• Deposit Composition: Total deposits were $7.1 billion at September 30, 2025, an increase of $1.1 billion from December 31, 2024.

Future Outlook and Strategy

• Core Business Focus: The Company plans to continue its relationship-led strategy in the New York metropolitan area and South Florida, focusing on CRE and C&I loans.
• Non-Core Business: The Company exited the Global Payments Group Banking-as-a-Service business in 2024, with only residual operational tasks remaining.
• Priority: The Company has authorized a share repurchase plan of up to $100 million since March 2025, with $47.3 million remaining available under the plan as of September 30, 2025.