8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): October 20, 2022

METROPOLITAN BANK HOLDING CORP.

(Exact Name of Registrant as Specified in Its Charter)

New York	001-38282	13-4042724
(State or Other Jurisdiction of Incorporation or Organization)	(Commission File No.)	(I.R.S. Employer Identification No.)
99 Park Avenue, New York, New York		10016
(Address of Principal Executive Offices)		(Zip Code)

(212) 659-0600

(Registrant’s Telephone Number, Including Area Code)

N/A

(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction A.2. below):

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4c)

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	MCB	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02Results of Operations and Financial Condition

On October 20, 2022 Metropolitan Bank Holding Corp. (the “Company”), the holding company for Metropolitan Commercial Bank, issued a press release announcing its financial results for the third quarter of 2022. The press release containing the financial results is attached hereto as Exhibit 99.1 and shall not be deemed “filed” for any purpose, nor shall the information or Exhibit 99.1 be deemed incorporated by reference in any filings under the Securities Act of 1933, as amended.

Item 7.01Regulation FD Disclosure

The Company has also made available on its website presentation materials containing additional information about the Company’s financial results for the third quarter of 2022 (the “Presentation Materials”). The Presentation Materials are furnished herewith as Exhibit 99.2 and is incorporated by reference in this Item 7.01.

The information provided in Item 7.01 of this report, including Exhibit 99.2, shall not be deemed “filed” for any purpose, nor shall the information or Exhibit 99.2 be deemed incorporated by reference in any filings under the Securities Act of 1933, as amended.

Item 9.01.Financial Statements and Exhibits

(d) Exhibits.

Exhibit No.	Description
99.1	Press Release dated October 20, 2022
99.2	Presentation Materials
104	Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

	METROPOLITAN BANK HOLDING CORP.
Dated: October 20, 2022	By:	/s/ Gregory A. Sigrist
		Gregory A. Sigrist
		Executive Vice President and Chief Financial Officer

EX-99.1

Exhibit 99.1

Release: 4:05 P.M. October 20, 2022

212-365-6721

IR@MCBankNY.com

Metropolitan Bank Holding Corp. Reports Quarterly Net Income

Revenues Increased 48.1% Year-Over-Year

Loans Increased 28.1% Year-Over-Year

Return on Average Tangible Common Equity¹ of 17.1%

NEW YORK, October 20, 2022 – Metropolitan Bank Holding Corp. (the “Company”) (NYSE: MCB), the holding company for Metropolitan Commercial Bank (the “Bank”), reported net income of $25.0 million, or $2.23 per diluted common share, for the third quarter of 2022 compared to net income of $16.2 million, or $1.77 per diluted common share, for the third quarter of 2021.

Quarterly Financial Highlights Year-Over-Year:

●Net interest income of $63.3 million, an increase of 55.2%.

●Net income of $25.0 million, an increase of 53.9%.

●Diluted earnings per share of $2.23, an increase of 26.0%.

●Net interest margin of 3.85%, an increase of 115 basis points.

●Loans totaled $4.6 billion, an increase of 28.1%.

●Deposits were $5.7 billion, an increase of 5.0%.

●Book value per share was $53.26, up 5.5%, and tangible book value per share¹ was $52.37, up 5.7%.

●Return on average equity of 16.8% and return on average tangible common equity¹ of 17.1%.

●Efficiency ratio² improved to 45.1% compared to 47.1%.

Mark DeFazio, President and Chief Executive Officer, commented,

“I am very pleased with our third quarter and year-to-date results. MCB continues to generate strong loan growth and leverage capital efficiently to drive strong returns, which is evident in our 17.1% ROATCE for the third quarter of 2022. Though the current economic outlook will be challenging for our industry, I am confident MCB will maintain its discipline toward margin management and asset quality.  

“Operating a branch-lite franchise since inception has led MCB to develop many deposit verticals, which affords us optionality in times where liquidity in the industry is at a premium and pricing is a challenge. This optionality combined with our pricing discipline allows us to better maintain our net interest margin through the rate cycle as we continue to grow.

“Our overall efficiencies also allow us to leverage our platform effectively. The next several quarters will be interesting, but MCB has a business platform that can thrive during these times as we have in other challenging economic periods over the past two decades.

“I want to thank the entire MCB team and our Board for their steadfast support and attention to our continued success.”

¹ Annualized. Non-GAAP financial measure. See Reconciliation of Non-GAAP Measures on page 12.

² Total non-interest expense divided by Total revenues.

1

Balance Sheet

The Company had total assets of $6.4 billion at September 30, 2022, a decrease of $445.0 million, or 6.5%, from June 30, 2022, and an increase of $280.8 million, or 4.6% from September 30, 2021.

Total cash and cash equivalents were $708.8 million at September 30, 2022, a decrease of $633.1 million, or 47.2%, from June 30, 2022 and a decrease of $1.1 billion, or 61.8%, from September 30, 2021. The decrease from June 30, 2022, reflected the $242.1 million deployment into loans and the $446.9 million outflow of deposits. The decrease from September 30, 2021, reflected the $1.4 billion deployment into loans and securities offset by $274.0 million in deposit growth.

Total loans, net of deferred fees and unamortized costs, were $4.6 billion, an increase of $242.1 million, or 5.5%, from June 30, 2022, and an increase of $1.0 billion, or 28.1% from September 30, 2021. Loan production was $423.6 million for the third quarter of 2022 compared to $512.8 million for the prior linked quarter and $312.9 million for the prior year period. The increase in total loans from June 30, 2022, was due primarily to an increase of $138.9 million in commercial real estate (“CRE”) loans (including owner-occupied) and $88.5 million in commercial and industrial (“C&I”) loans. The increase in total loans from September 30, 2021, was due primarily to an increase of $683.0 million in CRE loans (including owner-occupied) and $257.9 million in C&I loans.

Total securities were $946.7 million at September 30, 2022, a decrease of 5.2% from June 30, 2022, and an increase of 55.8% from September 30, 2021. The decrease from June 30, 2022 reflected the increase in unrealized losses on available-for-sale securities due to the prevailing interest rate environment.The increase from September 30, 2021 was due primarily to the use of excess liquidity to purchase additional securities.

Total deposits were $5.7 billion, a decrease of $446.9 million, or 7.2% from June 30, 2022, and an increase of $274.0 million or 5.0% from September 30, 2021. The decrease from June 30, 2022, was primarily due to a decrease of $485.9 million in digital currency business deposits, partially offset by an aggregate net increase of $39.0 million in all other deposit verticals. The increase in deposits from September 30, 2021, was primarily due to an increase of $333.3 million and $259.1 million in retail and fintech BaaS deposits, partially offset by a decrease of $226.6 million in bankruptcy trustee deposits. Non-interest-bearing demand deposits were 53.4% of total deposits at September 30, 2022, compared to 56.2% at June 30, 2022 and 51.4% at September 30, 2021.

Accumulated other comprehensive loss, net of tax, was $53.8 million, an increase of $19.1 million, from June 30, 2022, and $51.0 million from September 30, 2021. The increases were due to the prevailing interest rate environment which increased the unrealized losses on available-for-sale securities, partially offset by the increases in unrealized gains on cash flow hedges prior to their termination.

In 2020, the Company entered into an interest rate cap derivative contract as a part of its asset liability management strategy to help manage its interest rate risk position. The interest rate cap was designated as a cash flow hedge of certain deposit liabilities. In the third quarter of 2022, the Company terminated the interest rate cap and monetized the gain on the derivative. The unrecognized value of $12.7 million at termination will be released from Accumulated Other Comprehensive Income and recorded as a credit to Licensing fees expense through March 2025.

At September 30, 2022, the Company had available borrowing capacity of $909.4 million from the Federal Home Loan Bank, and an available line of credit of $109.3 million under the Federal Reserve Bank of New York discount window. The Company and the Bank each met all the requirements to be considered “Well-Capitalized” under applicable regulatory guidelines. Total non-owner-occupied commercial real estate loans were 343.3% of total risk-based capital at September 30, 2022, compared to 337.4% and 349.1% at June 30, 2022 and September 30, 2021, respectively.

2

Income Statement

Financial Highlights

	Three months ended									Nine months ended
	Sept. 30,			Jun. 30,			Sept. 30,			Sept. 30,			Sept. 30,
(dollars in thousands, except per share data)	2022			2022			2021			2022			2021
Total revenues (1)	$	69,143		$	62,300		$	46,683		$	185,502		$	128,829
Net income		24,955			23,189			16,215			67,165			41,668
Diluted earnings per common share		2.23			2.07			1.77			5.98			4.76
Return on average assets (2)		1.51	%		1.38	%		1.09	%		1.33	%		1.04	%
Return on average equity (2)		16.8	%		16.4	%		16.3	%		15.7	%		15.2	%
Return on average tangible common equity (2), (3)		17.1	%		16.7	%		16.9	%		16.1	%		15.9	%

(1) Total revenues equal net interest income plus non-interest income.

(2) Ratios are annualized.

(3) Non-GAAP financial measure. See Reconciliation of Non-GAAP Measures on page 12.

Net Interest Income

Net interest income for the third quarter of 2022 was $63.3 million, an increase of $8.0 million from the prior linked quarter and $22.5 million from the prior year period reflecting the increase in prevailing interest rates and the shift in asset mix to higher-yielding interest earning assets. The increase from the prior linked quarter was primarily due to the $272.2 million increase in the average balance of loans and the 43 basis point increase in the average yield for loans partially offset by the $487.5 million decrease in the average balance of overnight deposits and a higher cost of funds. The increase from the prior year period was primarily due to the $1.4 billion increase in the average balance of loans and securities and the 65 basis point and 204 basis point increases in average yield for loans and overnight deposits, respectively, partially offset by a higher cost of funds.

Net Interest Margin

Net interest margin for the third quarter of 2022 was 3.85% compared to 3.27% and 2.70% for the prior linked quarter and prior year period, respectively. The 58 basis point increase in net interest margin from the prior linked quarter was driven largely by the increase in the average balance of loans, the increase in yields for loans and overnight deposits partially offset by the decrease in the average balance of overnight deposits and a higher cost of funds. The 115 basis point increase from the prior year period was driven largely by the increase in the average balance of loans and securities, the increase in yields for loans and overnight deposits, partially offset by a higher cost of funds.

Total cost of funds for the third quarter of 2022 was 45 basis points compared to 25 basis points and 31 basis points for the prior linked quarter and prior year period, respectively, which reflect the increase in prevailing interest rates.

Non-Interest Income

Non-interest income was $5.8 million for the third quarter of 2022, a decrease of $1.2 million from the prior linked quarter, driven by lower Global Payments Group revenues due to lower digital currency business transactions during the quarter, partially offset by higher fintech Banking-as-a-Service transactions.

Non-Interest Expense

Non-interest expense was $31.2 million for the third quarter of 2022, an increase of $4.9 million and $9.2 million from the prior linked quarter and prior year period, respectively. The increases from the prior periods are driven by an increase in professional fees due to elevated legal fees, as well as an increase in compensation and benefits due to the increase in the number of full-time employees which is in line with revenue growth.

3

Income Tax Expense

The estimated effective tax rate for the third quarter of 2022 was 30.6% compared to 31.0% and 33.0% for the prior linked quarter and prior year period, respectively.

Asset Quality

Credit quality remains strong as there were no charge-offs during the third quarter of 2022 and non-performing loans to total loans was 0.00% at September 30, 2022 compared to 0.00% at June 30, 2022 and 0.43% at September 30, 2021, respectively.

The Company recorded a provision of $2.0 million for the third quarter of 2022 compared to $2.4 million and $490,000 for the prior linked quarter and prior year period, respectively. The provision was in line with loan growth during the respective periods.

Conference Call

The Company will conduct a conference call at 9:00 a.m. Eastern time on Friday, October 21, 2022, to discuss third quarter 2022 results. To access the event by telephone, please dial 800-245-3047 (US), 785-424-1699 (INTL), and provide conference ID: MCBQ322 approximately 15 minutes prior to the start time (to allow time for registration).

The call will also be broadcast live over the Internet and accessible at MCB Quarterly Results Conference Call and in the Investor Relations section of the Company’s website at MCB News. To listen to the live webcast, please visit the site at least 15 minutes prior to the start time to register, download and install any necessary audio software.

For those unable to join for the live presentation, a replay of the webcast will also be available later that day accessible at MCB Quarterly Results Conference Call.

About Metropolitan Bank Holding Corp.

Metropolitan Bank Holding Corp. (NYSE: MCB) is the parent company of Metropolitan Commercial Bank (the “Bank”). The Bank is a New York City based commercial bank that provides a broad range of business, commercial and personal banking products and services to small, middle-market, corporate enterprises, municipalities, and affluent individuals. The Bank’s Global Payments Group is an established leader in BaaS (Banking-as-a-Service) to various domestic and international fintech, payments and money services businesses. The Bank operates banking centers in New York City and on Long Island in New York State, and is ranked as one of the 100 Fastest-Growing Companies by Fortune, Top 50 Community Banks by S&P, Top 20 Commercial Lenders by ICBA for banks with an asset size of more than $1 billion, and is a member of the Piper Sandler Sm-All Stars Class of 2022. The Bank is a New York State chartered commercial bank, a member of the Federal Reserve System and the Federal Deposit Insurance Corporation, and an equal housing lender. For more information, please visit MCBankNY.com.

Forward Looking Statement Disclaimer

This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include but are not limited to the Company’s future financial condition and capital ratios, results of operations and the Company’s outlook and business. Forward-looking statements are not historical facts. Such statements may be identified by the use of such words as “may,” “believe,” “expect,” “anticipate,” “plan,” “continue” or similar terminology. These statements relate to future events or our future financial performance and involve risks and uncertainties that may cause our actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we caution you not to place undue reliance on these forward-looking statements. Factors which may cause our forward-looking statements to be materially inaccurate include, but are not limited to the continuing impact of the COVID-19 pandemic on our business and results of operation, an unexpected deterioration in our loan or securities portfolios, unexpected increases in our expenses, different than anticipated growth and our ability to manage our growth,

4

unanticipated regulatory action or changes in regulations, unexpected changes in interest rates, inflation, an unanticipated decrease in deposits, an unanticipated loss of key personnel or existing customers, competition from other institutions resulting in unanticipated changes in our loan or deposit rates, an unexpected adverse financial, regulatory or bankruptcy event experienced by our fintech partners, unanticipated increases in FDIC costs, changes in regulations, legislation or tax or accounting rules, the current or anticipated impact of military conflict, terrorism or other geopolitical events and unanticipated adverse changes in our customers’ economic conditions or general economic conditions, as well as those discussed under the heading “Risk Factors” in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

Forward-looking statements speak only as of the date of this release. We do not undertake any obligation to update or revise any forward-looking statement.

5

Consolidated Balance Sheet (unaudited)

	Sept. 30,		Jun. 30,		Mar. 31,		Dec. 31,		Sept. 30,
(in thousands)	2022		2022		2022		2021		2021
Assets
Cash and due from banks	$	28,929	$	33,143	$	32,483	$	28,864	$	32,660
Overnight deposits		679,849		1,308,738		1,381,475		2,330,486		1,824,820
Total cash and cash equivalents		708,778		1,341,881		1,413,958		2,359,350		1,857,480
Investment securities available for sale		423,265		465,661		505,728		566,624		603,168
Investment securities held to maturity		521,376		530,740		467,893		382,099		2,017
Equity investment securities, at fair value		2,027		2,107		2,173		2,273		2,289
Total securities		946,668		998,508		975,794		950,996		607,474
Other investments		17,484		17,357		15,989		11,998		11,998
Loans, net of deferred fees and unamortized costs		4,617,304		4,375,165		4,121,443		3,731,929		3,603,288
Allowance for loan losses		(42,541)		(40,534)		(38,134)		(34,729)		(38,121)
Net loans		4,574,763		4,334,631		4,083,309		3,697,200		3,565,167
Receivables from global payments business, net		75,457		68,214		62,129		39,864		48,302
Accrued interest receivable		20,370		18,203		16,186		15,195		13,504
Premises and equipment, net		31,503		17,933		16,434		15,116		14,031
Prepaid expenses and other assets		37,305		60,582		33,408		16,906		13,565
Goodwill		9,733		9,733		9,733		9,733		9,733
Total assets	$	6,422,061	$	6,867,042	$	6,626,940	$	7,116,358	$	6,141,254
Liabilities and Stockholders' Equity
Deposits
Non-interest-bearing demand deposits	$	3,058,014	$	3,470,325	$	3,176,048	$	3,668,673	$	2,803,823
Interest-bearing deposits		2,673,509		2,708,075		2,763,315		2,766,899		2,653,746
Total deposits		5,731,523		6,178,400		5,939,363		6,435,572		5,457,569
Trust preferred securities		20,620		20,620		20,620		20,620		20,620
Subordinated debt, net of issuance cost		—		—		—		24,712		24,698
Secured borrowings		26,912		32,044		32,322		32,461		35,559
Accounts payable, accrued expenses and other liabilities		50,969		37,774		50,216		36,411		38,129
Accrued interest payable		405		367		297		746		448
Prepaid third-party debit cardholder balances		9,395		23,531		24,092		8,847		21,577
Total liabilities		5,839,824		6,292,736		6,066,910		6,559,369		5,598,600
Class B preferred stock		—		—		—		—		3
Common stock		109		109		109		109		106
Additional paid in capital		387,406		385,369		383,327		382,999		382,922
Retained earnings		248,550		223,595		200,406		181,385		162,498
Accumulated other comprehensive gain (loss), net of tax effect		(53,828)		(34,767)		(23,812)		(7,504)		(2,875)
Total stockholders’ equity		582,237		574,306		560,030		556,989		542,654
Total liabilities and stockholders’ equity	$	6,422,061	$	6,867,042	$	6,626,940	$	7,116,358	$	6,141,254

6

Consolidated Statement of Income (unaudited)

	Three months ended						Nine months ended
	Sept. 30,		Jun. 30,		Sept. 30,		Sept. 30,		Sept. 30,
(dollars in thousands, except per share data)	2022		2022		2021		2022		2021
Total interest income	$	70,057	$	59,158	$	45,018	$	180,185	$	124,173
Total interest expense		6,732		3,856		4,226		14,926		11,986
Net interest income		63,325		55,302		40,792		165,259		112,187
Provision for loan losses		2,007		2,400		490		7,807		3,315
Net interest income after provision for loan losses		61,318		52,902		40,302		157,452		108,872
Non-interest income
Service charges on deposit accounts (1)		1,445		1,474		1,344		4,289		3,442
Global Payments Group revenue (1)		4,099		5,242		3,942		14,998		11,152
Other service charges and fees		364		355		614		1,225		1,484
Unrealized gain (loss) on equity securities		(90)		(73)		(9)		(269)		(45)
Gain (loss) on sale of securities		—		—		—		—		609
Total non-interest income		5,818		6,998		5,891		20,243		16,642
Non-interest expense
Compensation and benefits		14,568		13,415		11,269		41,404		33,907
Bank premises and equipment		2,228		2,264		2,038		6,608		6,063
Professional fees		6,086		1,692		1,877		9,252		5,183
Technology costs		984		1,144		1,090		3,527		3,464
Licensing fees		2,823		2,686		2,201		7,803		6,342
Other expenses		4,501		5,068		3,509		13,484		9,036
Total non-interest expense		31,190		26,269		21,984		82,078		63,995
Net income before income tax expense		35,946		33,631		24,209		95,617		61,519
Income tax expense		10,991		10,442		7,994		28,452		19,851
Net income	$	24,955	$	23,189	$	16,215	$	67,165	$	41,668
Earnings per common share:
Average common shares outstanding:
Basic		10,931,697		10,931,697		8,618,973		10,927,711		8,402,594
Diluted		11,177,152		11,189,807		8,893,104		11,204,735		8,636,397
Basic earnings	$	2.28	$	2.12	$	1.82	$	6.13	$	4.89
Diluted earnings	$	2.23	$	2.07	$	1.77	$	5.98	$	4.76

(1) Certain prior period amounts have been reclassified for consistency with the current period presentation.

7

Loan Production, Asset Quality & Regulatory Capital

	Sept. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sept. 30,
	2022			2022			2022			2021			2021
LOAN PRODUCTION (in millions)	$	423.6		$	512.8		$	488.9		$	411.0		$	312.9
ASSET QUALITY (in thousands)
Non-accrual loans:
Commercial real estate	$	—		$	—		$	—		$	9,984		$	9,984
Commercial and industrial		—			—			—			—			3,145
Consumer		24			24			24			37			1,674
Total non-accrual loans	$	24		$	24		$	24		$	10,021		$	14,803
Total non-performing loans	$	24		$	24		$	24		$	10,286		$	15,376
Non-accrual loans to total loans		—	%		—	%		—	%		0.27	%		0.41	%
Non-performing loans to total loans		—	%		—	%		—	%		0.28	%		0.43	%
Allowance for loan losses	$	42,541		$	40,534		$	38,134		$	34,729		$	38,121
Allowance for loan losses to total loans		0.92	%		0.93	%		0.93	%		0.93	%		1.06	%
Charge-offs	$	—		$	—		$	—		$	(3,909)		$	(54)
Recoveries	$	—		$	—		$	5		$	17		$	308
Net charge-offs/(recoveries) to average loans (annualized)		—	%		—	%		—	%		0.42	%		(0.03)	%
REGULATORY CAPITAL
Tier 1 Leverage:
Metropolitan Bank Holding Corp.		9.9	%		9.2	%		8.6	%		8.5	%		9.4	%
Metropolitan Commercial Bank		9.7	%		9.1	%		8.5	%		8.4	%		9.3	%
Common Equity Tier 1 Risk-Based (CET1):
Metropolitan Bank Holding Corp.		12.9	%		13.0	%		13.3	%		14.1	%		14.1	%
Metropolitan Commercial Bank		13.1	%		13.2	%		13.6	%		14.4	%		14.6	%
Tier 1 Risk-Based:
Metropolitan Bank Holding Corp.		13.3	%		13.4	%		13.7	%		14.6	%		14.8	%
Metropolitan Commercial Bank		13.1	%		13.2	%		13.6	%		14.4	%		14.6	%
Total Risk-Based:
Metropolitan Bank Holding Corp.		14.2	%		14.3	%		14.6	%		16.1	%		16.5	%
Metropolitan Commercial Bank		14.0	%		14.1	%		14.5	%		15.2	%		15.6	%

8

Performance Measures

	Three months ended									Nine months ended
(dollars in thousands,	Sept. 30,			Jun. 30,			Sept. 30,			Sept. 30,			Sept. 30,
except per share data)	2022			2022			2021			2022			2021
Net income available to common shareholders	$	24,887		$	23,126		$	15,707		$	67,013		$	41,100
Per common share:
Basic earnings	$	2.28		$	2.12		$	1.82		$	6.13		$	4.89
Diluted earnings	$	2.23		$	2.07		$	1.77		$	5.98		$	4.76
Common shares outstanding:
Period end		10,931,697			10,931,697			10,644,193			10,931,697			10,644,193
Average fully diluted		11,177,152			11,189,807			8,893,104			11,204,735			8,636,397
Return on: (1)
Average total assets		1.51	%		1.38	%		1.09	%		1.33	%		1.04	%
Average equity		16.8	%		16.4	%		16.3	%		15.7	%		15.2	%
Average tangible common equity (2)		17.1	%		16.7	%		16.9	%		16.1	%		15.9	%
Yield on average earning assets		4.26	%		3.50	%		2.99	%		3.59	%		3.11	%
Total cost of deposits		0.44	%		0.24	%		0.27	%		0.30	%		0.29	%
Net interest spread		3.25	%		2.95	%		2.35	%		2.86	%		2.45	%
Net interest margin		3.85	%		3.27	%		2.70	%		3.29	%		2.81	%
Net charge-offs as % of average loans (1)		—	%		—	%		(0.03)	%		—	%		0.02	%
Efficiency ratio(3)		45.1	%		42.2	%		47.1	%		44.25	%		49.67	%

(1) Ratios are annualized.

(2) Non-GAAP financial measure. See Reconciliation of Non-GAAP Measures on page 12.

(3) Total non-interest expense divided by total revenues

9

Interest Margin Analysis

	Three months ended
	Sept. 30, 2022						Jun. 30, 2022						Sept. 30, 2021
	Average						Average						Average
	Outstanding				Yield /		Outstanding				Yield /		Outstanding				Yield /
(dollars in thousands)	Balance		Interest		Rate (1)		Balance		Interest		Rate (1)		Balance		Interest		Rate (1)
Assets:
Interest-earning assets:
Loans (2)	$	4,504,260	$	60,570	5.30	%	$	4,232,016	$	52,185	4.87	%	$	3,566,852	$	42,730	4.65	%
Available-for-sale securities		521,378		1,651	1.27			540,100		1,643	1.22			538,115		1,454	1.06
Held-to-maturity securities		527,050		2,466	1.87			489,082		2,056	1.68			2,120		9	1.66
Equity investments		2,342		9	1.47			2,334		7	1.25			2,316		6	1.01
Overnight deposits		913,566		5,114	2.19			1,401,027		2,994	0.85			1,738,102		666	0.15
Other interest-earning assets		17,360		247	5.69			17,357		273	6.29			11,991		153	5.06
Total interest-earning assets		6,485,956		70,057	4.26			6,681,916		59,158	3.50			5,859,496		45,018	2.99
Non-interest-earning assets		108,643						93,597						95,181
Allowance for loan losses		(41,494)						(38,713)						(38,129)
Total assets	$	6,553,105					$	6,736,800					$	5,916,548
Liabilities and Stockholders' Equity:
Interest-bearing liabilities:
Money market and savings accounts	$	2,572,111		6,407	0.99		$	2,716,676		3,583	0.53		$	2,501,757		3,524	0.56
Certificates of deposit		51,363		98	0.76			62,247		123	0.80			82,628		192	0.92
Total interest-bearing deposits		2,623,474		6,505	0.98			2,778,923		3,706	0.53			2,584,385		3,716	0.57
Borrowed funds		20,555		227	4.41			20,621		150	2.91			45,309		510	4.40
Total interest-bearing liabilities		2,644,029		6,732	1.01			2,799,544		3,856	0.55			2,629,694		4,226	0.64
Non-interest-bearing liabilities:
Non-interest-bearing deposits		3,243,664						3,290,328						2,814,335
Other non-interest-bearing liabilities		75,471						78,997						77,732
Total liabilities		5,963,164						6,168,869						5,521,761
Stockholders' equity		589,941						567,931						394,787
Total liabilities and equity	$	6,553,105					$	6,736,800					$	5,916,548
Net interest income			$	63,325					$	55,302					$	40,792
Net interest rate spread (3)					3.25	%					2.95	%					2.35	%
Net interest margin (4)					3.85	%					3.27	%					2.70	%
Total cost of deposits (5)					0.44	%					0.24	%					0.27	%
Total cost of funds (6)					0.45	%					0.25	%					0.31	%

(1) Annualized.

(2) Amount includes deferred loan fees and non-performing loans.

(3) Determined by subtracting the annualized average cost of total interest-bearing liabilities from the annualized average yield on total interest-earning assets.

(4) Determined by dividing annualized net interest income by total average interest-earning assets.

(5) Determined by dividing annualized interest expense on deposits by total average interest-bearing and non-interest bearing deposits.

(6) Determined by dividing annualized interest expense by the sum of total average interest-bearing liabilities and total average non-interest-bearing deposits.

10

	Nine months ended
	Sept. 30, 2022						Sept. 30, 2021
	Average						Average
	Outstanding				Yield /		Outstanding				Yield /
(dollars in thousands)	Balance		Interest		Rate (1)		Balance		Interest		Rate (1)
Assets:
Interest-earning assets:
Loans (2)	$	4,214,957	$	159,291	5.03	%	$	3,365,602	$	118,803	4.70	%
Available-for-sale securities		542,099		4,942	1.22	%		453,105	$	3,409	0.99	%
Held-to-maturity securities		488,058		6,260	1.71	%		2,362	$	30	1.67	%
Equity investments		2,335		22	1.25	%		2,309	$	21	1.20	%
Overnight deposits		1,424,119		9,024	0.84	%		1,485,994	$	1,453	0.13	%
Other interest-earning assets		16,030		647	5.38	%		11,864	$	457	5.15	%
Total interest-earning assets		6,687,598		180,185	3.59	%		5,321,236		124,173	3.11	%
Non-interest-earning assets		86,682						83,582
Allowance for loan losses		(38,799)						(36,820)
Total assets	$	6,735,481					$	5,367,998
Liabilities and Stockholders' Equity:
Interest-bearing liabilities:
Money market and savings accounts	$	2,642,465	$	13,453	0.68	%	$	2,294,311	$	9,779	0.57	%
Certificates of deposit		63,074		383	0.81	%		84,363	$	673	1.07	%
Total interest-bearing deposits		2,705,539		13,836	0.68	%		2,378,674		10,452	0.59	%
Borrowed funds		27,099		1,090	5.36	%		45,296		1,534	4.47	%
Total interest-bearing liabilities		2,732,638		14,926	0.73	%		2,423,970		11,986	0.66	%
Non-interest-bearing liabilities:
Non-interest-bearing deposits		3,368,470						2,496,791
Other non-interest-bearing liabilities		61,303						80,838
Total liabilities		6,162,411						5,001,599
Stockholders' equity		573,070						366,399
Total liabilities and equity	$	6,735,481					$	5,367,998
Net interest income			$	165,259					$	112,187
Net interest rate spread (3)					2.86	%					2.45	%
Net interest margin (4)					3.29	%					2.81	%
Total cost of deposits (5)					0.30	%					0.29	%
Total cost of funds (6)					0.33	%					0.33	%

(1) Annualized.

(2) Amount includes deferred loan fees and non-performing loans.

(3) Determined by subtracting the annualized average cost of total interest-bearing liabilities from the annualized average yield on total interest earning assets.

(4) Determined by dividing annualized net interest income by total average interest-earning assets.

(5) Determined by dividing annualized interest expense on deposits by total average interest-bearing and non-interest bearing deposits.

(6) Determined by dividing annualized interest expense by the sum of total average interest-bearing liabilities and total average non-interest-bearing deposits.

11

Reconciliation of Non-GAAP Measures

In addition to the results presented in accordance with Generally Accepted Accounting Principles (“GAAP”), this earnings release includes certain non-GAAP financial measures. Management believes these non-GAAP financial measures provide meaningful information to investors in understanding the Company’s operating performance and trends. These non-GAAP measures have inherent limitations and are not required to be uniformly applied and are not audited. They should not be considered in isolation or as a substitute for an analysis of results reported under GAAP. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies. Reconciliations of non-GAAP/adjusted financial measures disclosed in this earnings release to the comparable GAAP measures are provided in the following table:

	Quarterly Data
	Sept. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sept. 30,
(dollars in thousands, except per share data)	2022			2022			2022			2021			2021
Average assets	$	6,553,105		$	6,736,800		$	6,920,575		$	6,781,313		$	5,916,548
Less: average intangible assets		9,733			9,733			9,733			9,733			9,733
Average tangible assets	$	6,543,372		$	6,727,067		$	6,910,842		$	6,771,580		$	5,906,815
Average equity	$	589,941		$	567,931		$	561,020		$	552,126		$	394,787
Less: average preferred equity		—			—			—			1,834			5,502
Average common equity	$	589,941		$	567,931		$	561,020		$	550,292		$	389,285
Less: average intangible assets		9,733			9,733			9,733			9,733			9,733
Average tangible common equity	$	580,208		$	558,198		$	551,287		$	540,559		$	379,552
Return on average tangible common equity (1), (2)		17.1	%		16.7	%		14.0	%		13.9	%		16.9	%
Total assets	$	6,422,061		$	6,867,042		$	6,626,940		$	7,116,358		$	6,141,254
Less: intangible assets		9,733			9,733			9,733			9,733			9,733
Tangible assets	$	6,412,328		$	6,857,309		$	6,617,207		$	7,106,625		$	6,131,521
Total equity	$	582,237		$	574,306		$	560,030		$	556,989		$	542,654
Less: preferred equity		—			—			—			—			5,502
Common equity	$	582,237		$	574,306		$	560,030		$	556,989		$	537,152
Less: intangible assets		9,733			9,733			9,733			9,733			9,733
Tangible common equity (book value)	$	572,504		$	564,573		$	550,297		$	547,256		$	527,419
Common shares outstanding		10,931,697			10,931,697			10,931,697			10,925,029			10,644,193
Book value per share (GAAP)	$	53.26		$	52.54		$	51.23		$	50.98		$	50.46
Tangible book value per share (non-GAAP) (3)	$	52.37		$	51.65		$	50.34		$	50.09		$	49.55

(1) Ratios are annualized.

(2) Net income divided by average tangible common equity.

(3) Tangible book value divided by common shares outstanding at period-end.

Explanatory Note

Some amounts presented within this document may not recalculate due to rounding.

12

EX-99.2

Exhibit 99.2

3 Q 2022 Investor Presentation

Disclosure 1 This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include but are not limited to the Companys future financial condition and capital ratios, results of operations and the Companys outlook and business. Forward-looking statements are not historical facts. Such statements may be identified by the use of such words as may, believe, expect, anticipate, plan, continue or similar terminology. These statements relate to future events or our future financial performance and involve risks and uncertainties that may cause our actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we caution you not to place undue reliance on these forward-looking statements. Factors which may cause our forward-looking statements to be materially inaccurate include, but are not limited to the continuing impact of the COVID-19 pandemic on our business and results of operation, an unexpected deterioration in our loan or securities portfolios, unexpected increases in our expenses, different than anticipated growth and our ability to manage our growth, unanticipated regulatory action or changes in regulations, unexpected changes in interest rates, inflation, an unanticipated decrease in deposits, an unanticipated loss of key personnel or existing customers, competition from other institutions resulting in unanticipated changes in our loan or deposit rates, an unexpected adverse financial, regulatory or bankruptcy event experienced by our fintech partners, unanticipated increases in FDIC costs, changes in regulations, legislation or tax or accounting rules, the current or anticipated impact of military conflict, terrorism or other geopolitical events and unanticipated adverse changes in our customers economic conditions or general economic conditions, as well as those discussed under the heading Risk Factors in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date of this presentation. We do not undertake any obligation to update or revise any forward-looking statement.

2 A Diversified Financial Institution We are More than a Commercial Bank Personal Banking Broad range of hallmark personal checking and savings accounts A full suite of electronic banking services that allow clients to easily manage their everyday financing needs Commercial Lending Relationship-based commercial real estate lending Growth driven by expertise in specific lending verticals Business Banking Checking, deposit, lending and cash management products and services for small and middle-market businesses MCB Business Bankers with deep knowledge and expertise in multiple industries, including law firms, resident healthcare, real estate property management, U.S. Trustee and municipalities Global Digital Payments (BaaS) Settlement for domestic and international digital payments Delivers critical financial infrastructure Provides Banking-as-a-Service to high growth fintechs Our mission To offer a full range of banking and innovative financial services to businesses and individuals Serve markets underserved by the ever-consolidating financial services industry and advance our leading edge model that combines new technologies with the best of traditional banking practices Our history Founded in 1999 in New York City with the goal of helping clients build and sustain generational wealth Business model focused on providing high-touch service with industry expertise and delivering customized solutions for our clients Commercial banking business is relationship driven and predominantly located in the highly attractive New York metro area Global payments business provides Banking-as-a-Service (BaaS) to leading fintech partners, which includes serving as an issuing bank for third-party managed debit card programs nationwide and providing other financial infrastructure, including cash settlement and custodian deposit services 2017 IPO raised $125mm of common equity and fueled industry-leading balance sheet and earnings growth In September 2021, MCB raised $172.5 million of common equity in a follow on offering of 2.3 million shares at $75 per share As of September 30, 2022, MCB has $6.4bnof assets; 30% compound annual growth rate since the IPO

Proven high growth business model 3 $1,421 $1,867 $2,678 $3,137 $3,732 $4,617 2017 2018 2019 2020 2021 3Q 2022 Loans $ millions $1,404 $1,661 $2,791 $3,830 $6,436 $5,732 2017 2018 2019 2020 2021 3Q 2022 Deposits $ millions $63 $83 $108 $142 $181 $186 2017 2018 2019 2020 2021 3Q 2022* Revenue $ millions $12 $26 $30 $39 $60 $67 2017 2018 2019 2020 2021 3Q 2022* Net Income $ millions 1 CAGR from December 31, 2017 through September 30, 2022 2 CAGR from December 31, 2017 through 2021 * YTD

35.6% 19.2% 9.1% Metropolitan Commerical Bank High-growth banks KRX Index 4 Revenue CAGR 1 20172022Q2 Investors have been rewarded for our strong performance Tangible book value per share CAGR 1 20172022Q2 Earnings per share CAGR 1 20172022Q2 32.4% 21.9% 11.8% Metropolitan Commerical Bank High-growth banks KRX Index Share price performance since IPO 4 versus KRX Index 3 15.5% 13.6% 3.7% Metropolitan Commerical Bank High-growth banks KRX Index (60%) 0% 60% 120% 180% 240% Nov-17 Jul-18 Apr-19 Dec-19 Aug-20 May-21 Jan-22 Oct-22 Metropolitan Commerical Bank High-growth banks KRX Index +80% +41% Source: FactSet, SNL Financial 1 CAGR from December 31, 2017 through June 30, 2022 (if applicable for High-growth banks and KRX Index) 2 Includes banks with market capitalization of $500mm+ and revenue, EPS, and TBVPS CAGRs >10% (2015-2021); Includes AX, BFC, CASH, FFIN, FFWM, FRC, HIFS, MBIN, PNFP, QCRH, SFBS, SIVB, and WAL 3 KRX Index represents the KBW Regional Bank Index 4 Performance since November 7, 2017 (MCB offering price of $35.00 per share) through October 10, 2022 +8%

Delivering Financial Results 5 10.5% 10.8% 11.3% 12.9% 15.2% 17.1% 2017 2018 2019 2020 2021 3Q 2022 Total Revenues* Full year, except 2022, which is YTD 3Q 2022| $ thousands $60,013 $78,744 $102,596 $133,460 $164,253 $170,504 $3,369 $4,640 $5,643 $8,464 $16,445 $14,998 2017 2018 2019 2020 2021 3Q 2022 $185,502 $83,384 $108,239 $141,924 $180,698 Global Payments Group (GPG) Third Quarter Financial Highlights Year-Over-Year Net interest income of $63.3 million, an increase of 55.2%. Net income of $25.0 million, an increase of 53.9%. Diluted earnings per share of $2.23, an increase of 26.0%. Net interest margin of 3.85%, an increase of 115 basis points. Loans totaled $4.6 billion, an increase of 28.1%. Deposits were $5.7 billion, an increase of 5.0%. Book value per share was $53.26, up 5.5%, and tangible book value per share** was $52.37, up 5.7%. Return on average equity of 16.8% and return on average tangible common equity (ROATCE)** of 17.1%. Efficiency ratio 1 improved to 45.1% compared to 47.1% for the prior year period. $19,021 $12,117 $6,097 $8,531 $3,291 $2,549 $23,189 $13,336 $10,811 $6,057 $5,865 $2,651 $24,955 $16,215 $10,783 $7,683 $7,113 $3,845 $18,887 $11,775 $7,863 $6,285 $3,324 3Q 2022 2021 2020 2019 2018 2017 4Q 3Q 2Q 1Q Quarterly Net Income $ thousands Revenues Excluding GPG $63,382 $12,369 $25,554 $30,134 $39,466 $60,555 ROATCE** at December 31, except 2022, which is QTD September 30, 2 *Total Revenues includes Net Interest Income and Non-Interest Income **Non-GAAP financial measure. See reconciliation to GAAP measure on page 19 1 Total non-interest expense divided by Total revenues 2 Annualized $67,165

Loan Portfolio Growth and Diversification 6 1 Gross of deferred fees and unamortized costs 2 Certain prior period amounts adjusted to conform to current presentation. * Includes consumer and 1-4 family loans ** Includes commercial real estate, multifamily and construction loans $4.63 billion Gross Loan Portfolio 1, 2 at September 30, 2022 | $ millions A Diversified Portfolio at September 30, 2022 66% 19% 10% 4% CRE C&I Multifamily Contruction Other $2,014 $2,122 $2,140 $2,239 $2,259 $2,388 $739 $780 $855 $1,085 $1,268 $1,296 $600 $611 $654 $724 $781 $869 $102 $97 $90 $82 $78 $76 2Q 20213Q 20214Q 20211Q 20222Q 20223Q 2022 $3,243 $3,455 $3,610 $3,739 $4,130 Total loans: $4.63mm Average 3Q Yield: 5.30% CRE/RBC ratio: MCB 343% $4,629

Commercial Growth Driven by Expertise in Specific Lending Verticals 7 Commercial and Industrial Overview Target Market Middle market businesses with annual revenues below $200 million Well-diversified across industries Key Metrics Strong historical credit performance - Pledged collateral and/or personal guarantees from high- net-worth individuals support most loans - Target borrowers have strong historical cash flows, good asset coverage and positive industry outlooks C&I Composition at September 30, 2022 27% 13% 13% 11% 6% 6% 11% 3% 9% 27% Finance & Insurance 13% Healthcare 13% Skilled Nursing Facilities 11% Retail 6% Individuals Unsecured 6% Wholesale 11% Individuals Secured 3% Manufacturing 9% Other Total C&I loans: $865mm 1 1 Net of deferred fees and unamortized costs

Relationship-Based Commercial Real Estate Lending 8 Target Market New York metropolitan area real estate entrepreneurs with a net worth in excess of $50 million Primarily concentrated in the New York MSA Well-diversified across various property types Key Metrics Weighted average LTV of 60% Multifamily loans 37% rent regulated Average LTV of 43% on stabilized rent regulated properties provide a cushion against any falling values Composition by Type at September 30, 2022 Composition by Region at September 30, 2022 19% 18% 12% 9% 8% 6% 5% 3% 18% 19% Manhattan 18% Brooklyn 12% Queens 9% Florida 8% Bronx 6% Long Island 5% New Jersey 3% Other NY 1% Staten Island 1% Connecticut 18% Other States Majority of loans are originated through direct relationships or referrals from existing clients. 30% 12% 12% 10% 9% 8% 5% 4% 5% 4% 30% Nursing Home CRE 12% Multifamily 12% Other CRE 10% Mixed Use 9% Retail 8% Office 5% Hospitality 4% Land 5% Construction 4% Warehouse 1% 1-4 Family Total CRE loans: $3,656mm 1 1 Net of deferred fees and unamortized costs

Well-Developed, Sector Diversified Healthcare Portfolio 9 Active in Healthcare lending since 2002 Highly selective regarding the quality of Skilled Nursing Operators that we finance Borrowers typically have over 1,000 beds under management Loans are made primarily in certificate of need states which limits the supply of beds and supports stable occupancy rates. Stabilized SNF 74% of CRE SNF portfolio. Stabilized facility provides adequate cash flows to support debt service and collateral value. Borrowers primary motive for acquisition of a stabilized property is for synergies with existing portfolio of SNFs. Average debt service coverage ratio is 3.11x. Non-stabilized SNF typically turn-around older SNFs acquired from owners who mismanaged the business, relied too heavily on long-term care (Medicaid reimbursement) or did not stay current with changes in the marketplace. Opportunity for owner to create value by renovating and adding services with higher Medicaid reimbursements rates (rehabilitation services, dialysis, etc.). C&I Healthcare Composition at September 30, 2022 49% 28% 15% 4% 3% 49% Nursing & Residential Care Facilities 28% Ambulatory Health Care Services 15% Offices and Clinics of Dentists 4% Ambulance Services 3% Doctor Office 1% Misc. Health Practitioners CRE SNF - $1.11 bn C&I SNF - $111 mm C&I Other Healthcare - $116 mm CRE SNF $1,110 mm C&I SNF $111 mm C&I Other $116 mm Diversified Healthcare Portfolio at September 30, 2022 Total Healthcare loans: $1,337mm

Well-Developed, Geographically Diversified Skilled Nursing Facility Portfolio 10 CRE Skilled Nursing Facility Exposure by State at September 30, 2022 C&I Skilled Nursing Facility Exposure by State at September 30, 2022 36% 21% 10% 6% 7% 5% 5% 3% 3% 36% New York 21% Florida 10% New Jersey 6% Virginia 7% Indiana 5% Pennsylvania 5% Ohio 3% Other States 3% Kentucky 1% Wisconsin 1% Georgia 1% Tennessee 1% Michigan 27% 23% 18% 9% 10% 7% 2% 4% 27% New York 23% Florida 18% New Jersey 9% District of Columbia 10% Pennsylvania 7% Indiana 2% Michigan 4% Other

$1,271 $1,320 $1,501 $1,492 $1,529 $1,654 $940 $940 $934 $930 $882 $714 $920 $1,044 $1,121 $1,129 $1,041 $941 $713 $796 $736 $734 $868 $894 $484 $447 $495 $481 $545 $707 $129 $132 $128 $69 $65 $60 $4,457 $4,679 $4,915 $4,835 $4,930 $4,970 2Q 20213Q 20214Q 20211Q 20222Q 20223Q 2022 Specialty Deposits** Fintech BaaS* Retail Deposits with Loan Customers Property Managers Bankruptcy Trustees Retail Deposits 53% 45% 2% 53% Non-interest-bearing demand deposits 45% Money market & savings account 2% Time deposits 3Q Cost of total deposits: 0.44% Deposit Composition 11 * Certain prior period amounts have been reclassified for consistency with the current period presentation. ** Includes liquidation, receivership, and litigation settlement. Deposits Verticals Composition Over Time | $ millions Total Deposits | $ millions $4,457 $4,679 $4,915 $4,835 $4,930 $4,970 $831 $778 $1,520 $1,104 $1,248 $762 $5,288 $5,457 $6,435 $5,939 $6,178 $5,732 2Q 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 3Q 2022 Digital Currency Businesses* Deposit Verticals Deposits Composition at September 30, 2022

Customer Centric Digital Payments Worldwide Global Payments Group 12 Domestic and international digital payments settlements Gateway to payment networks Wire, ACH, Visa, Mastercard, Remittance Custodian of deposits on behalf of clients and their customers Sponsorship for select clients as an extension of MCBs expertise and legal authority e.g., money transmitter, issuing bank, acquiring bank, lending activities Regulatory oversight by experienced MCB bankers with the expertise to deploy and manage regulatory compliance across a broad spectrum of client sectors including fintech, digital payments and money services businesses A leading national issuer of third-party debit cards status In addition to reported revenues, GPG-Fintech also contributed average non-interest bearing deposits of $746 million in the third quarter. About Global Payments $4,628 $5,358 $7,331 $8,823 $6,894 $12 $285 $1,133 $7,622 $8,104 $4,640 $5,643 $8,464 2018 2019 2020 2021 3Q 2022* Digital Currency Businesses Fintech BaaS** $ 16,445 $14,998 GPG Revenue $ thousands Global Payments Group Revenue as a % of Total Bank Non-Interest Income 38% 53% 69% 50% 74% 1 CAGR from December 31, 2018 through 2021 * YTD ** Does not include digital currency businesses 38.60 42.30 51.08 53.31 46.82 3.46 39.23 37.08 2018 2019 2020 2021 3Q 2022* Digital Currency Businesses Fintech BaaS** 38.60 42.30 54.54 92.54 83.90 GPG Transactions | Millions

13.00 13.24 13.70 15.93 13.26 17.65 38.60 42.30 51.08 13.35 2018 2019 2020 2021 3Q 2022 4Q 3Q 2Q 1Q Customer Centric Digital Payments Worldwide Global Payments Group Fintech BaaS 13 Fintech BaaS 1 Client Transactions | Millions 53.31 46.82 1 Does not include digital currency businesses 2 Certain prior periods amounts have been reclassified for consistency with the current period presentation * CAGR from December 31, 2018 through 2021 ** General Purpose Re-Loadable (GPR) Total Fintech BaaS 1 Revenue by Category 2 | Thousands $976 $930 $997 $884 $791 $228 $292 $373 $517 $512 $376 $273 $122 $203 $104 $345 $443 $444 $415 $809 $182 $186 $182 $213 $328 3Q 2021 4Q 2021 1Q 2022 2Q 2022 3Q 2022 Disbursements Digital bank acct Other Corporate Disbursement GPR card** $2,124 $2,544 $2,107 22% 17% 13% 14% $2,118 19% This represents revenue from new clients who went live in 2021 and 2022 $2,232

14 Well Managed Net Interest Margin 1 Represents full-year NIM, except 2022, which represents annualized NIM for the three months ended September 30, 2022. 2 Represents effective average daily FRB funds rate Net Interest Margin Analysis 1.00% 1.83% 2.16% 0.36% 0.08% 1.04% 3.52% 3.70% 3.46% 3.26% 2.77% 3.85% 2017 2018 2019 2020 2021 3Q 2022 MCB Net Interest Margin ("NIM") 1 Average Fed Funds Rate 2 Estimated Sensitivity of Projected Annualized Net Interest Income as of September 30, 2022 Fixed vs. Floating Rate Loans at September 30, 2022, for loans due after one year Fixed 59% Floating 41% -7.38% -3.13% 2.65% 5.06% -200 bps -100 bps +100 bps +200 bps Giventhestrengthof our deposit verticals and overall asset sensitivity,wearewell- positionedtobenefitfroma risinginterest rateenvironmentaswemaintainour margin managementdiscipline. Approximately 79% of floating rate loans have floors Weighted average floor of 4.80%

Highly Profitable, Scalable Model 15 ^ This represents the percentage of total non-interest income (less any gains on sale of securities) as compared to total revenue. * Annualized 1 These are non-GAAP financial measures. See reconciliation on slide 20 17.8% 14.7% 9.8% 9.7% 12.8% 8.4% 2017 2018 2019 2020 2021 3Q 2022 Non-Interest Income ratio 1,^ Efficiency ratio 10.5% 10.8% 11.3% 12.9% 15.2% 17.1% 2017 2018 2019 2020 2021 3Q 2022* ROATCE 1 52.1% 52.1% 55.4% 52.5% 48.3% 45.1% 2017 2018 2019 2020 2021 3Q 2022 Net Interest Margin 3.52% 3.70% 3.46% 3.26% 2.77% 3.85% 2017 2018 2019 2020 2021 3Q 2022*

Credit Metrics 16 NCOs/Average Loans Non-Performing Loans/Loans ALLL/Loans Non-Performing Loans/ALLL 0.32% -0.06% -0.13% 0.01% 0.13% 0.00% 2017 2018 2019 2020 2021 3Q 2022 1.05% 1.02% 0.98% 1.13% 0.93% 0.92% 2017 2018 2019 2020 2021 3Q 2022 0.24% 0.02% 0.17% 0.20% 0.28% 0.00% 2017 2018 2019 2020 2021 3Q 2022 22.8% 1.5% 17.1% 18.0% 29.6% 0.1% 2017 2018 2019 2020 2021 3Q 2022

19.4% 16.7% 12.7% 12.7% 15.2% 14.0% 2017 2018 2019 2020 2021 3Q 2022 Capital ratios* 17 Common Equity Tier 1 Capital Ratio Tier 1 Leverage Ratio Total Risk-Based Capital Ratio TCE / TA 1 18.4% 15.6% 11.8% 11.6% 14.4% 13.1% 2017 2018 2019 2020 2021 3Q 2022 14.7% 14.7% 10.1% 9.0% 8.4% 9.7% 2017 2018 2019 2020 2021 3Q 2022 12.7% 11.5% 8.5% 7.5% 7.7% 8.9% 2017 2018 2019 2020 2021 3Q 2022 * These capital ratios are for Metropolitan Commercial Bank Only 1 These are non-GAAP financial measures. See reconciliation on slide 20

Appendix 18

Reconciliation of GAAP to Non-GAAP Measures 19 *Tangible common equity divided by common shares outstanding at period-end In addition to the results presented in accordance with Generally Accepted Accounting Principles (GAAP), this earnings release includes certain non- GAAP financial measures. Management believes these non-GAAP financial measures provide meaningful information to investors in understanding the Companys operating performance and trends. These non-GAAP measures have inherent limitations and are not required to be uniformly applied and are not audited. They should not be considered in isolation or as a substitute for an analysis of results reported under GAAP. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies. Reconciliations of non-GAAP/adjusted financial measures disclosed in this earnings release to the comparable GAAP measures are provided in the accompanying tables. $ thousands, except per share data Q3 2022 2021 2020 2019 2018 2017 Average assets 6,553,105 $ 5,724,230 $ 3,863,013 $ 2,846,959 $ 1,951,982 $ 1,524,202 $ Less: average intangible assets 9,733 $ 9,733 $ 9,733 $ 9,733 $ 9,733 $ 9,733 $ Average tangible assets 6,543,372 $ 5,714,497 $ 3,853,280 $ 2,837,226 $ 1,942,249 $ 1,514,469 $ Average equity 589,941 $ 413,212 $ 320,617 $ 282,604 $ 251,030 $ 133,462 $ Less: Average preferred equity - $ 4,585 $ 5,502 $ 5,502 $ 5,502 $ 5,502 $ Average common equity 589,941 $ 408,627 $ 315,115 $ 277,102 $ 245,528 $ 127,960 $ Less: average intangible assets 9,733 $ 9,733 $ 9,733 $ 9,733 $ 9,733 $ 9,733 $ Average tangible common equity 580,208 $ 398,894 $ 305,382 $ 267,369 $ 235,795 $ 118,227 $ Total assets 6,422,061 $ 7,116,358 $ 4,330,821 $ 3,357,572 $ 2,182,644 $ 1,759,855 $ Less: intangible assets 9,733 $ 9,733 $ 9,733 $ 9,733 $ 9,733 $ 9,733 $ Tangible assets 6,412,328 $ 7,106,625 $ 4,321,088 $ 3,347,839 $ 2,172,911 $ 1,750,122 $ Total Equity 582,237 $ 556,989 $ 340,787 $ 299,124 $ 264,517 $ 236,884 $ Less: preferred equity - $ - $ 5,502 $ 5,502 $ 5,502 $ 5,502 $ Common Equity 582,237 $ 556,989 $ 335,285 $ 293,622 $ 259,015 $ 231,382 $ Less: intangible assets 9,733 $ 9,733 $ 9,733 $ 9,733 $ 9,733 $ 9,733 $ Tangible common equity (book value) 572,504 $ 547,256 $ 325,552 $ 283,889 $ 249,282 $ 221,649 $ Common shares outstanding 10,931,697 $ 10,925,029 $ 8,295,272 $ 8,312,918 $ 8,217,274 $ 8,196,310 $ Book value per share (GAAP) 53.26 $ 50.98 40.42 35.32 31.52 28.23 Tangible book value per share (non-GAAP)* 52.37 $ 50.09 39.25 34.15 30.34 27.04 Total Revenue (GAAP) 69,144 $ 180,698 $ 141,924 $ 108,239 $ 83,177 $ 63,382 $ Less: Gain on sale of securities - $ 609 $ 3,286 $ - $ (37) $ - $ Revenue excluding gain on sale of securities (non-GAAP) 69,144 $ 180,089 $ 138,638 $ 108,239 $ 83,214 $ 63,382 $ Non-Interest Income Ratio (non-GAAP) 9.19% 12.78% 9.67% 9.82% 14.66% 17.83% For Year Ending

$11 $34 $56 $125 $172 $238 $304 $360 $390 $490 $494 $439 $410 $412 $494 $627 $810 $1,043 $1,405 $1,846 $2,647 $3,101 $3,697 $4,575 199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022Q3 Since our founding, we have delivered exceptional core-funded loan growth . . . 20 Net Loans since December 31, 1999 | $ millions Deposits since December 31, 1999 | $ millions $10 $52 $69 $126 $184 $248 $316 $370 $349 $438 $449 $445 $464 $435 $492 $616 $766 $994 $1,404 $1,661 $2,791 $3,830 $6,435 5,732 199920002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022Q3 1 CAGR from December 31, 1999 through September 30, 2022

A Diversified Financial Institution We are More than a Commercial Bank 21 How We Succeed 23-Years of Reliable Asset Quality and Financial Performance Organic business loan origination platform Core funded organic deposit franchise Helping our clients build and sustain generational wealth since 1999 Our Strategic Priorities Enhance our position as a leader in the settlement of global and digital payments that brings people around the world closer together. Be the critical financial infrastructure for select fintechs to access our global payments settlement platform. Our Mission To offer a full range of banking and innovative financial services to businesses and individuals embracing the new digital banking era. Serve markets underserved by the ever-consolidating financial services industry and advance our leading- edge model that combines new technologies with the best of traditional banking practices ..

Delivering Critical Financial Infrastructure, Every Day Global Payments Group 22 Domestic and international digital payments settlements, every day Gateway to payment networks Wire, ACH, Visa, Mastercard, Remittance, every day Custodian of deposits on behalf of clients and their customers, every day Sponsorship for select clients as an extension of MCBs expertise and legal authority e.g., money transmitter, issuing bank, lending activities, every day Regulatory oversight by experienced MCB bankers with the expertise to deploy and manage regulatory compliance across a broad spectrum of client sectors including fintech, digital payments and money services businesses, every day A leading national issuer of third-party debit cards status, every day Digital payment platforms are the underpinnings of E-commerce E-commerce 1.0 was about selling goods, starting with Dell.comand Book Stacks Unlimited in the early 1990s. E-commerce 2.0 is about buying, selling and connecting a limitless array of products and services with desktop and mobile devices: Video, movies, TV programs, music, books, podcasts and news streaming services DIY online learning from around the corner to around the world; how to knit to PhD Global gig work opportunities Tickets to in-person and virtual sporting and entertainment events Grocery and prepared meals delivered The list goes on and on...

Delivering Critical Financial Infrastructure, Every Day 23 U.S. Treasury Government Payments Pension Companies Public and Private Pension Payments Law Firms Payouts for Legal Settlements Other Load Types MG, WU, GD, VRL, MCR Direct Deposits/ ACH Loads Network Loads WU, MG GD Corporate Prefund Adjustment Account Charge Back Disputes or Provisional Credits Program Revenue Account Programs Revenue Operating Account Net Network Settlement Cardholder Activity MCB Settlement Account Net of Fees (Program Earnings and Expenses) MCB Pooled Funds Account MCB Revenue Account MCBs Revenue MCB Reserve Account Extraordinary Events MCB Prepaid Invoice Account External Activity MCB Owned Program Owned Moved by External Party Moved by MCB MCB Clients Moved by External Party Global Payments Group

Client Case Study Global Payments Group 24 The B2B and B2C infrastructure Broxel has built in Mexico combined with MCBs total support infrastructure in the United States is the blueprint for our mutual success. Gustavo Gutierrez Broxel Overview Broxel is a FinTech leader founded in 2011 and based in Mexico City, Mexico. The Company is an innovator of tailor-made payments solutions that create efficient, agile, disruptive and available financial B2B and B2C ecosystems anywhere in the world. broxel.com/us-en/ Leadership Gustavo Gutierrez, CEO and Founder Vision We will transform money into something more valuable. Markets Mexico, United States Hispanic Primary Business Broxel offers prepaid debit cards and a mobile app that accepts direct deposits and can make payments online and at retail locations in MXN and USD. Broxel is a Mexican company that is always looking out for the Hispanic community living in the United States. Metropolitan Commercial Bank Global Payments Group Broxel has been a client since 2018 Mobile app-based bank account and card that works as a remittance product

Client Case Study Global Payments Group 25 CIBanco Overview Consultora Internacional (CI) was established in 1983 and became known as CIBanco in 2008. CIBanco became a signatory of the Equator Principles from the World Bank in 2012 in response to the environmental challenges that the world is facing. Aligned with a renewed corporate philosophy CIBanco became the first green bank in Mexico to provide sustainable financial solutions. CIBanco, CICasa de Bolsa, CIFondos de Inversion, Finamadrid, are wholly-owned subsidiaries of Tenedora CI, S. A. de C.V. Financial Group. cibanco.com Leadership Jorge Rangel de Alba Brunel, Chairman of the Board Norman Hagemeister Rey, Chief Executive Director and Board Member Luis Miguel Osio Barroso, Chief Executive Director and Board Member Salvador Arroyo Rodriguez, Chief Executive Director and Board Member Mario Maciel Castro, CEO Vision To stand apart from traditional vertically integrated banks in specific niches that favor sustainability through unparalleled service, reliability, security and leadership. Markets Mexico, United States Hispanic | Spain and Latin America Primary Business Mexico- based bank providing banked, unbanked and underbanked financial service, leaders in Trust Funds, FX & Foreign Trade Units. Financial services including auto loans, trust funds, online and mobile banking, currency and investment options, and lines of credit, in and outside of Mexico. CIBanco serves SME, large and corporate entities and individuals providing all financial services, settling electronic and wire transfers from and to the U.S.; thanks to its export and import profile and the commercial relevance between both countries and the world. Metropolitan Commercial Bank Global Payments Group CIBanco has been a client since 2019 Mobile app-based bank account and card that works as a remittance product Metropolitan Commercial Bank has demonstrated from the very beginning and throughout the journey, collaboration between institutions outside the transactional scope suggests a long-term relationship, in which there is trust to point out everything right or wrong; seeking to consolidate a bilateral and joint reputation. It is not every day you have the openness and willingness to grow and mature with a partner who is on your side while committing to each entity daily. Luis Miguel Osio Barroso

Client Case Study Global Payments Group 26 Mesh Payments Overview Corporate HQ New York, NY, International office Tel Aviv, Israel; 20+ employees, privately held company founded in 2018 with VC backers and a recent round of favorable financing; strong growth in the virtual card space, which is a fraction of the corporate card space. meshpayments.com Leadership Globally recognized payment and technology leaders. Oded Zehavi, CEO and Co-founder Before Mesh: COO, Kaymera Technologies; Payoneer, Chief Revenue Officer; PayPal, Director Global Business Development Board Member: ReWire.tp; Advisory Board Member: Fiverr, AU10TIX, CreditStacks Vision Re-writing the way corporate payments are made. One-stop hub to orchestrate, manage, analyze and optimize, reconcile, and reduce their corporate spend and subscription payments. Markets Global B2B cardlesspayments. Primary Business Cardless corporate payments solutions via virtual cards SaaS (software as a service) subscriptions On-Demand to employees and gig workers Payment intelligence manage corporate spending and protect companies from failed payment risks Receipt Automation collects and matches digital receipts automatically for all tracked payments. Accounting Integrations works with existing accounting software Metropolitan Commercial Bank Global Payments Group Mesh Payments has been a client since 2018 MCB holds deposits on behalf of Mesh Payments clients MCB provides Mesh Payments with access to ACH and wire payment systems MCB sponsors Mesh Payments Visa branded virtual cards Metropolitan Commercial Bank checks all the boxes when it comes to innovation mindset and execution and strong relationships and fintech support. Oded Zehavi

Client Case Study Global Payments Group 27 Revolut Overview A global fintech financial services company Corporate HQ London, England International offices including Asia, Europe and Oceania North American offices, San Francisco, CA and New York, NY 2,000+ employees revolut.com/en-US Leadership Revolut, Martin Gilbert, Chairman; Nik Storonsky, CEO and Co-founder; Vlad Yatsenko, CTO and Co-founder Revolut USA, Ronald Oliveira, CEO since November 2019 The Companys executive leadership is a Whos Who of global fintech and finance superstars. Vision Revolut is building the worlds first truly global financial super app. Markets Global, individuals and businesses Primary Business Around the world use dozens of Revoluts innovative banking, investment and wealth management products to make more than 100 million transactions a month. Across Revoluts personal and business accounts, the Company helps customers improve their financial health, give them more control, and connect people seamlessly across the world. Metropolitan Commercial Bank Global Payments Group Revolut has been a client since 2018 MCB holds deposits on behalf of Revoluts clients MCB provides Revolut with: Access to ACH and wire payment systems Correspondent relationships for FX services Tailored solutions for Revolut clients in other jurisdictions MCB sponsors Revolut card processing services for its Visa and MasterCard products Metropolitan Commercial Bank is not only a bank with excellent financial health, a deep bench of experienced fintech bankers and a track record across a wide arena of fintech sectors, their people listen and are open to new and interesting banking solutions. Ronald Oliveira

Partner with the Leading Processors and Payment Processing Networks, Every Day Global Payments Group 28 Leading Processors Leading Payment Processing Networks

Who Are Our Payment Clients? 29 Global Payments Group

Engaging in Our Diverse Digital Payment Products Ecosystem, Every Day Global Payments Group 30 Illustrative photography and captions, not actual customers. Accounts Payable/ Expense Management ACH Processing and Settlement Bill Payment Card Present Debit Card Claim Handling and Processing Digital Assets Settlement E-Wallet Debit Card Government Benefits Settlement International Remittance Loan Advance / Payment Settlement Mobile Payment Settlement Due cappuccino date night with my prefunded e-wallet watch app in Naples, Italy. I dont know how its done but I am glad my phone helps me travel around with ease. Peer-To-Peer (P2P) Payments Push Payments Real Time Domestic and International Rebate Settlement Virtual Debit Card Credit score is up so now I can get approved for a new car and visit my folks in Ontario. Sent my sister money to pay for books at St. Georges University in Granada. My benefit payments arrive like clockwork to my debit card every month. Easy peazy. Morning coffee with my loyalty rewards prepaid debit card in Seattle, Washington. Paying in for Sallys wedding gift was easier than deciding what the gift should be. Traded in my wallet for paying mobile. More space in my purse for makeup. Foreign travel is exciting, not having to think about exchange rates is joyful. Now I can view and comment on everyones expenses no matter where they are. Getting paid in Bitcoin and having it converted to Euros instantly, sweeeet! This auto insurance claim app is a snap to use. No more needless repair estimates. I really enjoy the security of my debit card over cash. A feeling of safety I was missing. Check writing, stamps, check registers, so yesterday. Billpayapp happy to meet you. Our international business runs smoother when we are paid digitally.

Establishing Our Place in a Diverse Digital Payment Industry Complex, Every Day Global Payments Group 31 Illustrative photography and captions, not actual customers .. Auto Consumer Lending Corporate Accounts Payable Management Corporate Payroll Correspondent Banking Criminal Justice and Corrections Crypto Currency Financial Services to the Unbanked/Underbanked Foreign Exchange Government Payments Healthcare Co-Pay Hospitality Mobile Banking Online Gambling Online Gaming Travel Trucking Pharmaceutical Prepaid Phonecards

XML

Document and Entity Information	Oct. 20, 2022
Document and Entity Information [Abstract]
Document Type	8-K
Document Period End Date	Oct. 20, 2022
Entity Registrant Name	METROPOLITAN BANK HOLDING CORP.
Entity Incorporation, State or Country Code	NY
Entity File Number	001-38282
Entity Tax Identification Number	13-4042724
Entity Address, Address Line One	99 Park Avenue
Entity Address, City or Town	New York
Entity Address State Or Province	NY
Entity Address, Postal Zip Code	10016
City Area Code	212
Local Phone Number	659-0600
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	MCB
Security Exchange Name	NYSE
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Central Index Key	0001476034
Amendment Flag	false