Metropolitan Bank Q3 net interest margin rises on higher yields and loan payoffs
MCB•Metropolitan Bank’s Q3 net interest income rose 26.3% year over year to $97.60 million, while diluted EPS climbed to $2.58 from $0.67 and net interest margin widened to 4.36% from 3.88%. The company raised its quarterly dividend to $0.40 per share.
1. Q3 results improve
Metropolitan Bank reported Q3 net income of $32.44 million and revenue of $100.56 million. Net interest income increased 26.3% year over year to $97.60 million, and diluted EPS rose to $2.58 from $0.67 a year earlier.
2. Margin and dividend
Net interest margin expanded to 4.36% from 3.88%. The company attributed the increase to higher yields on loans and securities, elevated prepayment penalties and deferred fee recognition from increased loan payoffs. It also raised its quarterly dividend to $0.40 per share, citing confidence in its long-term outlook.
