Sign In  |  Register  |  About Sunnyvale  |  Contact Us

Sunnyvale, CA
September 01, 2020 10:10am
7-Day Forecast | Traffic
  • Search Hotels in Sunnyvale

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Metropolitan Commercial Bank Recognized as #9 in S&P Global’s 2022 Ranking of Best-Performing Large Community Banks

Metropolitan Commercial Bank (the “Bank”), the wholly owned subsidiary of Metropolitan Bank Holding Corp. (NYSE: MCB), today announced that the Bank was recognized for the fourth consecutive year in S&P Global Market Intelligence’s annual ranking of the best-performing community banks with assets between $3 billion and $10 billion.

Metropolitan Commercial Bank was #9 in the 2022 national rankings of the top 50 best performing large community banks, based on financials for the year ended December 31, 2022. S&P Global Market Intelligence ranks institutions based on returns, growth and efficiency but places a premium on the strength and risk profile of balance sheets.

The Bank was also ranked #8 among top-performing community banks in the Northeast region. S&P Global Market Intelligence introduced this new category in 2022 to provide an assessment of top-performing community banks by region for the Northeast, South Central, Southeast, West, and Midwest.

“Metropolitan Commercial Bank is pleased to receive this industry recognition, particularly given its emphasis on our financial strength and risk profile,” said Mark R. DeFazio, President and CEO of Metropolitan Commercial Bank. “As a leading entrepreneurial bank based in New York City, we are dedicated to fulfilling our mission to serve our clients with a broad range of business, commercial and personal banking products and services, and deliver value for our shareholders. I want to acknowledge the efforts of our nearly 250 employees who work hard every day to meet the needs of our customers and the communities we serve.”

S&P Global Market Intelligence calculated scores for each company based on seven metrics: pretax return on tangible common equity; efficiency ratio; cost of funds; five-year average operating revenue growth; five-year average net charge-offs to average loans and leases ratio; nonperforming assets and loans 90 days or more past due as a percentage of total assets; and leverage ratio. Criteria for the ranking included a gross loans and leases-to-total assets ratio of at least 33% with no more than half of those loans in credit cards; a leverage ratio of at least 5%; no active severe enforcement action; a result other than "substantial noncompliance" or "needs to improve" in the bank's most recent Community Reinvestment Act exam; a yield on loans and leases of no more than three times the industry median of 4.88%; and no more than half of the entity's revenue coming from nontraditional banking activities. Based on the above criteria, 196 banks and thrifts were eligible for ranking. For more information on the rankings, click here.

About Metropolitan Bank Holding Corp.

Metropolitan Commercial 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. With its Global Payments group, the Bank has established itself as a leader in domestic and international fintech, payments, and money services. Metropolitan Commercial Bank operates banking centers in New York City and on Long Island in New York state. The Bank 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. The parent company of Metropolitan Commercial Bank is Metropolitan Bank Holding Corp. (NYSE: MCB).

For more information, please visit the Bank’s website at MCBankNY.com.

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 Sunnyvale.com & California Media Partners, LLC. All rights reserved.