Metropolitan Bank Holding Corp. Announces Net Income of $22.1 Million for Q3 2023

Metropolitan Bank Holding Corp. (MCB) has released its unaudited financial results for the third quarter of 2023, showcasing remarkable financial performance. The bank reported a net income of $22.1 million, along with impressive revenue of $97.9 million for the same period. Let's delve into the details of their Consolidated Balance Sheet and Statement of Income to gain a deeper understanding of the bank's financial health.

Strengthened Balance Sheet

Robust Cash and Equivalents

As of September 30, 2023, Metropolitan Bank Holding Corp. demonstrated solid liquidity with cash and due from banks amounting to $36.4 million, an increase from previous quarters. The overnight deposits also showcased a significant improvement, standing at $140.9 million. The total cash and cash equivalents reached $177.4 million, indicating strong liquidity reserves.