Metropolitan Bank Holding Corp. Earnings Per Share Disclosure
NOTE 17 — EARNINGS PER COMMON SHARE
The Company uses the two-class method in the calculation of basic and diluted earnings per share. Under the two-class method, earnings available to common stockholders for the period are allocated between common stockholders and participating securities according to dividends declared (or accumulated) and participation rights in undistributed earnings. The factors used in the earnings per share calculation are as follows (in thousands, except per share data):
Year Ended December 31, | |||||||||||
| | 2025 | | 2024 | | 2023 | |||||
Basic | |||||||||||
Net income per consolidated statements of income | $ | 71,098 | $ | 66,686 | $ | 77,268 | |||||
Less: Earnings allocated to participating securities | — | — | (365) | ||||||||
Net income available to common stockholders | $ | 71,098 | $ | 66,686 | $ | 76,903 | |||||
Weighted average common shares outstanding including participating securities | 10,594,606 | 11,179,074 | 11,112,572 | ||||||||
Less: Weighted average participating securities | — | — | (52,462) | ||||||||
Weighted average common shares outstanding | 10,594,606 | 11,179,074 | 11,060,110 | ||||||||
Basic earnings per common share | $ | 6.71 | $ | 5.97 | 6.95 | ||||||
Diluted | |||||||||||
Net income allocated to common stockholders | $ | 71,098 | $ | 66,686 | $ | 76,903 | |||||
Weighted average common shares outstanding for basic earnings per common share | 10,594,606 | 11,179,074 | 11,060,110 | ||||||||
Add: Dilutive effects of assumed vesting of performance based restricted stock units | 28,940 | — | 69,790 | ||||||||
Add: Dilutive effects of assumed vesting of restricted stock units | 118,124 | 76,149 | — | ||||||||
Average shares and dilutive potential common shares | 10,741,670 | 11,255,223 | 11,129,900 | ||||||||
Dilutive earnings per common share | $ | 6.62 | $ | 5.93 | $ | 6.91 | |||||
For the year ended December 31, 2025, all performance based restricted stock units and restricted stock units were considered in computing diluted earnings per common share. For the year ended December 31, 2024, 42,735 of performance based restricted stock units were not considered in the calculation of diluted earnings per share as their inclusion would be anti-dilutive. For the year ended December 31, 2023, 248,234 of restricted stock units were not considered in the calculation of diluted earnings per share as their inclusion would be anti-dilutive.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 20, 2026 | Showing above |
| 2024 | Feb 28, 2025 | |
| 2023 | Feb 28, 2024 | |
| 2022 | Feb 28, 2023 | |
| 2021 | Mar 10, 2022 | |
| 2020 | Mar 8, 2021 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.