MCB - Metropolitan Bank GAAP EPS of $2.25 beats by $0.61 revenue of $65.5M beats by $0.5M

2023-04-18 16:20:36 ET

• Metropolitan Bank press release ( NYSE: MCB ): Q1 GAAP EPS of $2.25 beats by $0.61 .
• Revenue of $65.5M (+21.1% Y/Y) beats by $0.5M .
• Net income of $25.1 million, an increase of 31.8%.
• Net interest income of $58.5 million, an increase of 25.5%.
• Total core deposits, which do not include crypto related deposits of $278.5 million, were $4.9 billion at March 31, 2023, an increase of $69.2 million from December 31, 2022.
• Total cash and cash equivalents were $299.5 million at March 31, 2023, an increase of $42.1 million, or 16.3%, from December 31, 2022 and a decrease of $1.1 billion from March 31, 2022.

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