Q1 2026 Metropolitan Bank Holding Corp Earnings Call Transcript
Key Points
- Metropolitan Bank Holding Corp (MCB) reported a significant loan book increase of $235 million, aligning with their guidance of $1 billion in net growth for 2026.
- The company achieved impressive deposit growth of $363 million, or approximately 5%, outpacing loan growth.
- MCB's net interest margin (NIM) was 4.08% in the first quarter, with expectations to increase to 4.15% to 4.20% as the year progresses.
- The bank's iGaming payments and HUD platform are in the integration stage, with expectations for meaningful balance sheet growth and fee income.
- MCB successfully executed a follow-on equity raise in March under challenging market conditions, demonstrating strong investor confidence.
- The company experienced a reduction in interest income by about $2.5 million compared to the prior quarter.
- There were charge-offs of three loans totaling $12.3 million, impacting the allowance for credit losses.
- Non-interest expense increased by $2 million versus the prior quarter, driven by higher compensation and benefits costs.
- The net interest margin decreased by 2 basis points from the prior quarter, although it increased on a normalized basis.
- MCB's core non-interest income remained relatively flat, with expectations for improvement tied to new initiatives later in the year.
Please stand by. Your meeting ends and up to begin.
Welcome to the Metropolitan Commercial Bank First Quarter 2026 Earnings Call.
Hosting the call today for Metropolitan Commercial Bank are Mark DeFazio, President and Chief Executive Officer, and Daniel Dougherty, Executive Vice President and Chief Financial Officer.
Today's call is being recorded.
During today's presentation, reference will be made to the company's earning release and investor presentation, copies of which are available at mcbankny.com.
Today's presentation may include forward-looking statements that are subject to risks and uncertainties that may cause actual results to differ materially.
Please refer to the company's notices regarding forward-looking statements and non-GAAP measures that appear in the earnings release and investor presentation.
It is now my pleasure to turn the floor over to Mark DeFazio, President and Chief Executive Officer.
You may begin.
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