Metropolitan Bank (MCB) investor relations material

Executive summary

• Achieved strong growth in loans and deposits, with 14% and 11% CAGR respectively since 2020, and revenue CAGR of 17% over the same period.

• Net income for Q2 2026 was $19.2 million, down from $31.4 million in Q1 2026 but up from $18.8 million in Q2 2025, with EPS at $1.54; YTD net income reached $77 million, with a 13% CAGR since 2020.

• Earnings impacted by isolated legacy asset quality issues, a $13.3 million provision for credit losses, and strategic investments in AI and payments platform initiatives.

• Outperformed NYC middle-market banks and the KBW Regional Banking Index in total return and key financial metrics since IPO.

• Increased quarterly dividend from $0.25 to $0.35 per share and opened a new branch in West Palm Beach.

Financial highlights

• Q2 2026 assets: $8.9B; loans: $7.3B; deposits: $7.7B; net interest margin: 4.08%, unchanged from prior period.

• Net interest income rose 22.8% year-over-year to $90.4 million and 5.3% sequentially; total revenues for Q2 2026 were $93.0 million.

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

• Efficiency ratio at 55.7% for Q2 2026.

• Net charge-offs/average loans: 2.0% in Q2 2026; non-performing loans/loans: 0.91% YTD 2026; ACL/loans: 0.85%.

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.

• Lending pipeline remains robust and deposit forecasts are in line with guidance.

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

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