Metropolitan Bank Holding Corp. Leases Disclosure
NOTE 6 — LEASES
The Company leases its corporate office, banking centers and loan production offices. The following tables present the Company’s lease cost and other information related to its operating leases (dollars in thousands):
At December 31, | |||||||
2025 | 2024 | ||||||
Supplemental balance sheet information: | |||||||
$ | 44,994 | $ | 47,619 | ||||
$ | 49,337 | $ | 51,910 | ||||
Weighted average remaining lease term in years |
| 14.4 |
| 15.2 | |||
Weighted average discount rate |
| 4.77 | % |
| 4.73 | % | |
At December 31, | |||||||||
2025 | 2024 | 2023 | |||||||
Components of lease cost: | |||||||||
Operating lease cost (classified in Bank premises & equipment on the Consolidated Statement of Operations) | $ | 5,334 | $ | 5,119 | $ | 5,290 | |||
Supplemental cash flow information: | |||||||||
Cash paid for amounts included in the measurement of lease liabilities: | |||||||||
Operating cash outflows from operating leases | $ | 5,283 | $ | 5,012 | $ | 5,191 | |||
Non-cash activity related to lease assets: | |||||||||
Lease assets obtained from new operating lease liabilities | $ | 388 | $ | 9,197 | $ | 2,036 | |||
The following table presents the remaining maturity of lease liabilities as well as the reconciliation of undiscounted lease payments to the discounted operating lease liabilities (in thousands):
At December 31, | ||||||||
2025 | 2024 | |||||||
Lease liabilities maturing in: | ||||||||
2026 | $ | 5,379 | $ | 5,257 | ||||
2027 |
| 5,003 |
| 5,274 | ||||
2028 |
| 4,590 |
| 4,899 | ||||
2029 |
| 4,577 |
| 4,486 | ||||
2030 | 4,768 | 4,499 | ||||||
Thereafter | 45,572 | 50,340 | ||||||
Total | $ | 69,889 | $ | 74,755 | ||||
Less: Present value discount | (20,552) | (22,845) | ||||||
Total lease liabilities | $ | 49,337 | $ | 51,910 | ||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 20, 2026 | Showing above |
| 2024 | Feb 28, 2025 | |
| 2023 | Feb 28, 2024 | |
| 2022 | Feb 28, 2023 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.