MCBMetropolitan Bank Holding Corp.

State Commercial Banks

Revenue: $11M; 54% YoY
Operating margin: —
EBITDA: —
Market cap: $1.2B
Employees: 326; $34K revenue each
Net debt / EBITDA: —
AI in 10-K: 2.7; mentions per 10K words

Takeover score 3 of 13

Fixable underperformance 2 of 7

TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
125% of net income
Cash flow under 80% of net income
Dilutive SBCYes
81% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
86% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
0% of assets
Over 40% of assets
Shareholder dissentYes
72% lowest support
Any vote under 80% support

Buyer economics 1 of 4

Low revenue per employeeNo
$34K · 34th pct
Bottom quartile of its SIC industry
Quiet on AINo
2.7 per 10K words · 65th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
—
More cash than debt, positive EBITDA
Buyout-sizedYes
$1.2B market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
−$4M net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$23M	$27M	$28M	$24M	$11M	54%
Net income	$61M	$59M	$77M	$67M	$71M	6.6%
Operating cash flow	$37M	$86M	$42M	$148M	$89M	40%
Stock-based comp	$5M	$8M	$10M	$9M	$9M	0.3%
Buybacks	—	—	—	—	$73M
Dividends	—	—	—	—	$3M

Deal filings

None.

13D filers

Filed	Filer	Form	Stake	Intent
Sep 19, 2023	PATRIOT FINANCIAL PARTNERS III, L.P.	SC 13D/A	6.1%	Passive
Sep 13, 2023	PATRIOT FINANCIAL PARTNERS III, L.P.	SC 13D/A	6.1%	Passive
Aug 18, 2023	PATRIOT FINANCIAL PARTNERS III, L.P.	SC 13D	5.2%	Passive
Nov 5, 2021	ENDICOTT MANAGEMENT CO	SC 13D/A	0.0%	Passive

Insider trading

Open-market buys, 12 mo: $170K · 2
Open-market sells, 12 mo: $5M · 17
Net: −$4M

Pay vs performance

No pay-versus-performance disclosure yet.