First Quarter 2013 Results
LITTLE ROCK, Ark. (April 26, 2013) – Metropolitan National Bank today announced its financial results for the quarter ending March 31, 2013.
For the first quarter of 2013, the bank posted a profit of $662,000 compared to a loss of $1.04 million during the same time period in 2012. “Our recent profits are due to the bank shrinking non-performing assets by more than $46 million within the past six months,” said Lunsford W. Bridges, President and CEO of Metropolitan National Bank. “We anticipate Metropolitan’s trend of lowering problem assets and increasing core earnings to continue throughout 2013 and beyond.”
The bank’s Tier 1 Capital Ratio stood at 6.30% and Risk Based Ratio was 10.85% as of March 31st. Both ratios have increased from a year ago where Tier 1 was 6.18% and Risk Based was 9.57%.
“Metropolitan’s continued commitment to taking care of our customers is the cornerstone of our business. Loan demand is increasing, mortgage lending results are strong and customer response to our newest mobile banking offerings have been tremendous. We thank our customers and employees for their continued dedication and loyalty to Metropolitan National Bank,” Bridges concluded.
About Metropolitan National Bank
Metropolitan National Bank is one of Arkansas’ largest banks, offering a comprehensive line of banking, mortgage and wealth management services for individuals, businesses and the public sector. Founded in 1970, the bank currently has assets of $1.03 billion. Additional information about Metropolitan National Bank can be found at metbank.com.
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