Metropolitan Bank Holding Corp. reported its financial results for the third quarter of 2025, revealing a net income of $7.1 million, a decrease from $12.3 million in the same period last year. The decline is attributed to a significant increase in the provision for credit losses, which rose by $21.2 million, alongside the absence of $3.5 million in revenue from its Global Payments Group (GPG) business, which the company exited. Despite these challenges, net interest income increased by $12.1 million to $77.3 million, driven by a larger loan portfolio and a decrease in regulatory reserves compared to the previous year.
Total assets for the company reached $8.2 billion as of September 30, 2025, marking a 12.8% increase from $7.3 billion at the end of 2024. This growth was primarily fueled by a $1.1 billion increase in deposits, which totaled $7.1 billion, and a $747.6 million rise in loans, which amounted to $6.8 billion. The company’s loan portfolio is heavily concentrated in commercial real estate (CRE) and commercial and industrial (C&I) loans, with 77.4% of these loans located in the New York metropolitan area.
Operationally, the bank's total securities increased slightly to $934.4 million, reflecting a $125.9 million purchase of available-for-sale securities. The allowance for credit losses also rose to $94.2 million, up from $63.3 million at the end of 2024, indicating a proactive approach to managing potential credit risks. The bank's non-performing loans increased to $81.6 million, primarily due to issues with a specific CRE multi-family loan relationship.
In terms of strategic developments, the company announced a quarterly dividend of $0.15 per share, payable on November 14, 2025, and elected Anthony J. Fabiano as the new independent Chairman of the Board. Additionally, the board approved a share repurchase plan allowing for the buyback of up to $50 million in common stock, with $47.3 million remaining under the current authorization. The bank continues to focus on enhancing its operational efficiency and expanding its market presence, particularly in the New York metropolitan area and South Florida.
Looking ahead, Metropolitan Bank Holding Corp. remains cautiously optimistic about its growth trajectory, despite the challenges posed by increased credit loss provisions and the exit from the GPG business. The bank's management is committed to maintaining a strong capital position and effectively managing its asset quality as it navigates the evolving economic landscape.
About Metropolitan Bank Holding Corp.
Metropolitan Bank Holding Corp. is a New York-based bank holding company operating Metropolitan Commercial Bank, which provides business, commercial, and retail banking services. Its offerings include loans, deposit products, cash management, and specialized financial solutions for small to middle-market clients, real estate entrepreneurs, and public entities primarily in the New York metropolitan area. The bank emphasizes relationship banking, tailored services, and a diversified funding strategy to support growth and community engagement.
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