Metropolitan Commercial Bank Joins Exclusive Sm-All Stars Class of 2024
Metropolitan Commercial Bank Recognized in Exclusive Group
Metropolitan Bank Holding Corp. (NYSE: MCB), the holding entity for Metropolitan Commercial Bank, proudly announces its inclusion in Piper Sandler’s esteemed Sm-All Stars Class of 2024. This notable recognition shines a light on 30 companies known for their exceptional performance across numerous financial metrics. The renowned list welcomes eight new members, paired with 22 returning alumni, signifying an elite benchmark within the industry.
Commitment to Financial Excellence
The recognition serves as a testament to Metropolitan Commercial Bank’s unwavering commitment to financial excellence. Mark R. DeFazio, the Founder, President, and CEO of Metropolitan Commercial Bank, expressed his enthusiasm regarding this accolade. "We are honored to be part of this distinguished group of financial institutions, reaffirming our steadfast commitment to leading the industry with innovative banking solutions of the highest standards,” he said. This statement reinforces the bank’s dedication to serving its clients with top-notch services tailored to individual and corporate needs.
Criteria for Sm-All Star Selection
Achieving Sm-All Star status is no small feat. Banks had to maintain a market capitalization below $2.5 billion while meeting rigorous standards related to growth, profitability, credit quality, and capital strength. They not only had to excel in earnings per share (EPS) growth, loan growth, and deposit growth, but they were also required to maintain a non-performing assets (NPA) ratio below 0.75% as of June 30, 2024. In addition, participating banks needed a net charge-off (NCO) ratio of less than 25 basis points and a tangible common equity (TCE) ratio of 7.0% or higher, showcasing their resiliency amid economic conditions.
Dedication to Clients
The delighted reaction from Metropolitan Commercial Bank emphasizes its continuous efforts to enhance service delivery. By focusing on innovative banking solutions, the bank aims to meet and exceed client expectations across diverse financial landscapes. This award not only underscores their operational success but also their commitment to customer satisfaction and community engagement.
Insights on Metropolitan Commercial Bank
Located in New York City, Metropolitan Commercial Bank (the “Bank”) serves as a comprehensive financial institution delivering a diverse portfolio of banking services. Catering to individuals, small businesses, corporate entities, and various governmental organizations, the Bank plays a pivotal role in the region’s financial ecosystem. Its services address a wide array of banking needs including commercial, personal, and government-related financial products.
Specialized International Services
Furthermore, Metropolitan Commercial Bank prides itself on its EB-5 / E-2 International Group, which specializes in providing banking services to participants in the United States Citizenship and Immigration Services’ EB-5 Immigrant Investor Program. This initiative supports investors, developers, and Regional Centers, demonstrating the Bank’s commitment to fostering investment and economic growth.
Acknowledgment and Rating
In addition to being named among Piper Sandler’s Sm-All Stars, Metropolitan Commercial Bank was recognized in Newsweek’s list of the Best Regional Banks and Credit Unions for 2024. Moreover, it proudly ranked among the top ten successful loan producers for 2023, reaffirming its substantial growth within relevant financial categories. Kroll also recently affirmed a BBB+ investment grade deposit rating, highlighting robust financial standing and reliability in the market.
Metropolitan Commercial Bank operates several banking centers located in Manhattan, Boro Park, Brooklyn, and Great Neck on Long Island. This strategic presence allows the Bank to cater effectively to its clients across a variety of neighborhoods.
Company Overview
As a New York State-chartered commercial bank and a member of the Federal Reserve System and the Federal Deposit Insurance Corporation, Metropolitan Commercial Bank provides assurances of compliance and financial integrity. The organization practices equal housing lending and is devoted to fostering a fair, accessible banking environment. As the parent company, Metropolitan Bank Holding Corp. (NYSE: MCB) continues to support the Bank’s operations and strategic advancements.
For those interested in learning more about the services offered by the Bank, please refer to their official website.
Frequently Asked Questions
What is the significance of the Sm-All Stars recognition?
The Sm-All Stars recognition is awarded to companies demonstrating exceptional performance in areas like growth and profitability, establishing them as leaders in their industry.
Who is the CEO of Metropolitan Commercial Bank?
Mark R. DeFazio serves as the Founder, President, and CEO of Metropolitan Commercial Bank, overseeing its strategic direction and operations.
What services does Metropolitan Commercial Bank offer?
The bank provides a comprehensive range of banking services, including commercial, personal, and specialized international banking products tailored to diverse clientele.
How has Metropolitan Commercial Bank performed in recent rankings?
Recently, the bank was recognized as one of Newsweek’s Best Regional Banks and ranked among the top loan producers of 2023.
What markets does Metropolitan Commercial Bank serve?
Metropolitan Commercial Bank primarily serves the New York City area, with branches providing services in Manhattan, Boro Park, Brooklyn, and Great Neck on Long Island.
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