Metropolitan Bank reports Q3 EPS $1.08, two estimates $1.55

Reports Q3 revenue $71.52M, two estimates $66.73M. Mark DeFazio, President and Chief Executive Officer, commented, “The commercial bank continues to report strong underlying business fundamentals and financial performance. Our net interest income increased 6% quarter over quarter and 12% year to date supported by continued strength and growth in our net interest margin. We continue to deliver on deposit growth despite the challenging operating environment. Importantly, our year to date results highlight our ability to manage in a dynamic environment and we expect our financial results to benefit from the recent reduction in the Fed Funds target rate and any additional monetary policy easing in the future.”