Metropolitan Bank (MCB) investor relations material

Executive summary

• Balance sheet and lending pipeline remain strong, with robust loan and deposit growth; net income for Q2 2026 was $19.2 million, up year-over-year, and $50.6 million for the first half of 2026.

• Strategic investments in AI, payments, and branch expansion are underway to drive future profitability and operating leverage.

• Outperformed regional and NYC middle-market peers in total return and key financial metrics since IPO.

• Quarterly results impacted by isolated legacy asset quality issues, a $13.3 million provision for credit losses, and higher non-interest expenses.

• Completed a $186.5 million equity offering and authorized a $50 million share repurchase program in 2026.

Financial highlights

• Q2 2026 assets: $8.9B; loans: $7.3B; deposits: $7.7B; net interest margin: 4.08%, up from 3.83% a year ago.

• Net interest income for Q2 2026 increased by $16.8 million year-over-year; interest income up $6 million quarter-over-quarter.

• Non-interest expense was $51.8 million, up $5.4 million from prior quarter, with $3.3 million in one-time expenses.

• Book value per share: $78.11; tangible book value per share: $77.32.

• Efficiency ratio at 55.7% for Q2 2026.

Outlook and guidance

• Loan growth target of $1 billion for 2026 remains achievable, with a $1 billion pipeline and signed term sheets exceeding $625 million.

• NIM expected to rise to 4.20% by year-end, not reliant on Fed rate cuts; net interest income growth forecast at 20% for the full year.

• Management expects continued loan and deposit growth, supported by a stable deposit base and strong capital position.

• Efficiency ratio expected to remain stable in the coming quarters.

• Recoveries of $7.5–$10 million anticipated by year-end.