Metropolitan Bank Holding Corp. announced net income of $21.4 million, or $1.88 per diluted common share, for the fourth quarter of 2024. This represents a significant increase from $12.3 million, or $1.08 per diluted common share, reported in the third quarter of 2024. The fourth quarter results also surpassed the $14.6 million, or $1.28 per diluted common share, from the fourth quarter of 2023.
For the full year 2024, the company reported total revenue of US$270.7 million, reflecting a 14% increase compared to the previous fiscal year. The adjusted Return on Tangible Common Equity (ROTCE) for the fourth quarter of 2024 stood at 12.3%.
These financial metrics demonstrate a robust end to the year for Metropolitan Bank Holding Corp., with strong sequential and year-over-year growth in net income. The improved profitability and ROTCE are key indicators of the bank's operational effectiveness and value creation for shareholders.
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