Metropolitan Bank Holding Corp. reported net income of $12.3 million for the third quarter of 2024. This translated to $1.08 per diluted common share for the period. The company's revenue for the quarter reached US$68.8 million, marking a 16% increase compared to the prior year's third quarter.
These results indicate a decline in profitability when compared to the fourth quarter of 2023, which saw net income of $14.6 million and diluted EPS of $1.28. The third quarter's performance also lagged behind the first quarter of 2024, which reported net income of $16.2 million and diluted EPS of $1.46.
Investors typically monitor these quarterly reports closely to understand the bank's operational efficiency and profitability trends. The reported figures provide a snapshot of the company's financial standing and its trajectory in the competitive banking landscape.
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