Metropolitan Bank reports Q2 EPS $1.50, consensus $1.57

Reports Q2 revenue $67.7M, two estimates $67.9M. Q2 net interest margin expanded 4 basis points to 3.44% from 3.40% in Q1. Mark DeFazio, CEO, commented, “Our strong second quarter financial results were underscored by an increase in the net interest margin and stable asset quality despite the persistence of a challenging operating environment. At the same time, we are progressing well on two major strategic initiatives – our digital transformation project and the exit from BaaS activities. We remain confident that our strategy and execution this year will position MCB for continued success.”