Metropolitan Bank Holding Corp (NYSE:MCB)

Q4 2024 Metropolitan Bank Holding Corp Earnings Call Transcript

Jan 24, 2025 / 02:00 PM GMT

Release Date Price: $65.79 (+7.89%)

Transcript 8-K

Key Points

Positve

Metropolitan Bank Holding Corp (MCB) reported a strong fourth quarter performance with a net income of $21.4 million, or $1.88 per share.
The company successfully exited the BaaS business, which had been a part of its operations for 22 years, and managed to replace the associated deposit runoff economically.
MCB increased total deposits by over $245 million last year and by $705 million since the end of 2022.
The company is investing in a new technology stack, which is expected to be fully integrated by the end of the year, already showing returns within the payments platform.
MCB maintained strong asset quality with no new nonperforming credits and expects successful resolution of current workouts in 2025.

Negative

The exit from the BaaS business led to a decrease in total deposits by approximately $285 million in the fourth quarter.
Noninterest income for the fourth quarter declined by $1.9 million, primarily due to a decrease in GPG income.
The company anticipates $11 million in one-time costs related to its digital transformation project and other IT initiatives in 2025.
Operating expenses are expected to increase, with a forecast of $175 to $177 million for 2025, including the one-time costs.
The effective tax rate for the quarter was relatively high at approximately 31.7%.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MCB.N - Metropolitan Bank Holding Corp
Q4 2024 Metropolitan Bank Holding Corp Earnings Call
Jan 24, 2025 / 02:00PM GMT

=====================
Presentation
--------------------------------------------------------------------------------
Unidentified_1 [1]
--------------------------------------------------------------------------------
Welcome to Metropolitan Commercial Banks fourth quarter and full year 2024 earnings call hosting the call today from Metropolitan Commercial Bank are Mark Defazio, President and Chief Executive Officer and Daniel Doherty, Executive Vice President and Chief Financial Officer. Today's call is being recorded at this time. All participants have been placed in a listen-only mode and the floor will be open for your questions following the prepared remarks. If you would like to ask a question at that time, please press star one on your telephone keypad. If at any point, your question has been answered, you may remove yourself from the queue by pressing Star two. We ask that you please pick up your handset to allow optimal

Already have an account? Log in

Get the full story

Subscribe Now

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

7-Day Free Trial · Cancel Anytime

Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Calculators Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App Newsletters Signup 中文

Education

Financial Glossary Tutorials FAQ Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.