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- Net Charge-offs Spiked to 1.35% Annualized Ytd 2026 From 0.06% In 2025 (new) — A 22-fold increase in charge-offs signals material credit deterioration, compounded by a declining allowance ratio and non-performing loans exceeding reserves.
- $13.3m Provision For Single C&i Loan In Non-core Portfolio (new) — A single-loan provision consuming 69% of quarterly net income raises questions about underwriting and concentration risk in legacy portfolios.
- Non-performing Loans At 108% of Allowance For Credit Losses (new) — Reserves now fall short of non-performing loans, indicating potential for additional provisions if credit quality does not stabilize.
Metropolitan Bank reports Q2 2026 EPS of $1.54, raises dividend 40% to $0.35/share
Filed July 21, 2026 · Period ending July 21, 2026 · ~2 min read
Key Changes
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high
Q2 2026 net income fell to $19.2M ($1.54/share) from $31.4M ($2.92/share) in Q1, driven by a $13.3M provision for a single C&I loan in a non-core portfolio segment plus $3.3M of isolated non-interest expenses.
Exhibit 99.1 view on EDGAR → -
high
Net charge-offs spiked to 1.35% of average loans (annualized) YTD 2026 from 0.06% in 2025; non-performing loans rose to 0.91% of total loans while the allowance for credit losses fell to 0.85% from 1.43% in 2025.
Exhibit 99.2 view on EDGAR → -
high
Board raised quarterly dividend 40% to $0.35/share (from $0.25) and authorized a new $50M share repurchase program on June 19, 2026, signaling confidence in capital position.
Exhibit 99.1 view on EDGAR → -
high
Net interest income grew 22.8% YoY to $90.4M with net interest margin stable at 4.08%; total loans increased 4.0% to $7.3B while deposits remained flat at $7.7B, pushing loan-to-deposit ratio to 94.8%.
Exhibit 99.1 view on EDGAR → -
medium
Completed multi-year "Modern Banking in Motion" digital transformation and opened a West Palm Beach branch on June 9, 2026, expanding to nine banking centers.
Exhibit 99.2 view on EDGAR →
Summary
Metropolitan Bank reported Q2 2026 earnings of $1.54 per share, down 47% from the prior quarter, as a $13.3 million provision for a single commercial and industrial loan in a non-core portfolio segment consumed most of the quarter's operating profit.
The provision reflects a sharp deterioration in credit quality: net charge-offs surged to 1.35% of average loans (annualized) year-to-date from just 0.06% in 2025, while the allowance for credit losses fell to 0.85% of loans—now below the 0.91% non-performing loan ratio. Non-performing loans as a percentage of reserves reached 108%, meaning the bank's credit buffer is insufficient to cover problem loans at face value.
The single-loan concentration that drove the provision raises questions about legacy underwriting and whether additional charges may follow. Despite the credit headwinds, the board raised the quarterly dividend 40% to $0.35 per share and authorized a new $50 million share repurchase program, signaling confidence in the bank's capital position and core earnings power. Net interest income grew 22.8% year-over-year to $90.4 million with the net interest margin holding at 4.08%, and total loans expanded 4.0% to $7.3 billion while deposits remained flat, pushing the loan-to-deposit ratio to 94.8%. The bank also completed its multi-year digital transformation and opened a West Palm Beach branch in June. Investors should watch whether the credit deterioration is isolated to the disclosed C&I loan or signals broader portfolio stress, and whether management can stabilize charge-offs while maintaining the elevated dividend and buyback commitments.
Section-by-Section Diff
Event · Exhibit 99.2
Metropolitan Bank released Q2 2026 results: $19.2M net income, 4.08% NIM, $7.3B loans, $7.7B deposits, increased dividend to $0.35/share.
Added in current filing · view on EDGAR →
Net income divided by: $ 19,223 $ 31,426 $ 71,098 $ 35,121 $ 77,268 $ 59,425 Average tangible common equity $ 955,290 $ 818,398 $ 722,878 $ 684,421 $ 611,273 $ 569,054 Return on average tangible common equity* 11.5% 15.6% 9.8% 5.1% 12.6% 10.4%
Metropolitan Bank reported Q2 2026 net income of $19.2 million, down from $31.4 million in Q1 2026, with return on average tangible common equity of 11.5% (annualized). The company increased its quarterly common stock cash dividend from $0.25 per share to $0.35 per share. Net interest margin remained stable at 4.08% for both Q2 and Q1 2026.
Added in current filing · view on EDGAR →
$6,631 $6,800 $6,829 | $7,065 | $7,349 | 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026
Total loans grew to $7.3 billion in Q2 2026 from $7.1 billion in Q1 2026, representing sequential growth of approximately $284 million. Total deposits remained flat at $7.7 billion quarter-over-quarter. The loan-to-deposit ratio increased to 94.8% from 91.0% in the prior quarter, indicating the bank is deploying more of its deposit base into earning assets.
Added in current filing · view on EDGAR →
0.01% 0.13% 0.00% 0.02% 0.00% 0.06% | 1.35% | 2020 2021 2022 2023 2024 2025 YTD 2026¹
Net charge-offs to average loans spiked to 1.35% (annualized) in YTD 2026 from 0.06% in 2025, a material deterioration in credit performance. Non-performing loans to total loans increased to 0.91% in Q2 2026 from 0.54% in 2024 and 1.28% in 2025. The allowance for credit losses to loans ratio decreased to 0.85% in Q2 2026 from 1.05% in 2024 and 1.43% in 2025, while non-performing loans as a percentage of the allowance rose to 108.0% from 51.5% in 2024.
Added in current filing · view on EDGAR →
Opened West Palm Beach branch June 9, 2026.
The bank opened a new branch in West Palm Beach, Florida on June 9, 2026, expanding its physical footprint to nine strategically located banking centers. This represents continued geographic expansion in Florida, where the bank already had a Miami location and where 16% of its loan portfolio and deposits are concentrated.
Added in current filing · view on EDGAR →
Completed multi-year Modern Banking in Motion Digital Transformation Implementation.
Metropolitan Bank completed its multi-year "Modern Banking in Motion" digital transformation initiative. This platform is designed to support future business expansion, drive operational efficiencies, and enhance client experience through improved digital banking capabilities and internal systems for employees.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Net interest income for the second quarter of 2026 was $90.4 million, an increase of $4.5 million, or 5.3%, compared to the prior linked quarter and an increase of $16.8 million, or 22.8%, compared to the prior year period. ... The net interest margin for the second quarter of 2026 was 4.08%, which was the same as the prior linked quarter and an increase of 25 basis points compared to the prior year period.
Net interest income rose to $90.4 million in Q2 2026, up 5.3% from Q1 2026 and 22.8% from Q2 2025. The net interest margin held steady at 4.08% versus Q1 2026 and expanded 25 basis points year-over-year, reflecting higher loan and overnight deposit balances and lower funding costs.
Added in current filing · view on EDGAR →
The ratio of non-performing loans to total loans improved to 0.91% at June 30, 2026, a decrease of 10.0% from the prior linked quarter reflecting the resolution and charge-off of a previously reserved out-of-market commercial real estate (“CRE”) loan relationship.
Non-performing loans as a percentage of total loans improved to 0.91% at June 30, 2026, down from 1.01% at March 31, 2026. The improvement reflects the resolution and charge-off of a previously reserved out-of-market CRE loan relationship.
Added in current filing · view on EDGAR →
Total loans at June 30, 2026 were $7.3 billion, an increase of $282.4 million, or 4.0%, from March 31, 2026 and an increase of $518.7 million, or 7.6%, from December 31, 2025. ... Total deposits at June 30, 2026 were $7.7 billion, essentially stable from March 31, 2026 and an increase of $354.3 million, or 4.8% from December 31, 2025.
Total loans grew to $7.3 billion at June 30, 2026, up 4.0% from March 31, 2026 and 7.6% from December 31, 2025. Total deposits were $7.7 billion, essentially flat from March 31, 2026 but up 4.8% from December 31, 2025. The company continues to grow its balance sheet in line with guidance.
Event · Item 7.01 — Regulation FD Disclosure
Metropolitan Bank posted Q2 2026 presentation materials on its website under Regulation FD.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
The Company has also made available on its website presentation materials containing additional information about the Company’s financial results for the second quarter of 2026 (the “Presentation Materials”).
Metropolitan Bank disclosed that it has posted presentation materials on its website with additional information about Q2 2026 financial results. The materials are furnished as Exhibit 99.2 under Regulation FD but are not deemed filed or incorporated by reference into Securities Act filings.
Event · Item 2.02 — Results of Operations and Financial Condition
Metropolitan Bank Holding Corp. announced Q2 2026 financial results via press release.
Added in current filing · verify on EDGAR →
On July 21, 2026, Metropolitan Bank Holding Corp. (the “Company”), the holding company for Metropolitan Commercial Bank (the “Bank”), issued a press release announcing its financial results for the second quarter of 2026.
The company disclosed its second quarter 2026 financial results through a press release. The 8-K filing itself does not contain the actual financial figures—those are in the attached Exhibit 99.1 press release, which is furnished but not filed.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 22, 2026 · How we verify