Second Quarter 2013 Results
LITTLE ROCK, Ark. (July 30, 2013) – Metropolitan National Bank today announced a profit of $1.28 million for the quarter ending June 30, 2013. This compares to a loss of $423,162 during the same time period in 2012.
"It is very rewarding that Metropolitan has posted profits in three consecutive quarters. Our ratios continue to show great improvement and I am confident these positive trends will continue," stated Lunsford W. Bridges, President and CEO of Metropolitan National Bank. "Our employees remain focused and dedicated to one goal; ensuring that Metropolitan National Bank continues our tradition of providing the best quality customer service in the state of Arkansas."
The announced profit brings Metropolitan National Bank’s total net income during the first six months of 2013 to $1.9 million.
At the end of the second quarter, Metropolitan’s Tier 1 Capital Ratio stood at 6.46% and the Risk Based Capital Ratio was 11.13%. Both ratios are improved from June 30, 2012 where the Tier 1 Capital Ratio was 6.13% and the Risk Based Capital Ratio was 9.72%.
"The outpouring of support for our bank, employees and customers since the announcement of our proposed partnership with Ford Financial Fund II has been tremendous. These are exciting times for Metropolitan; we look forward to continuing our Nearby & Neighborly service and dedication to our customers for many years to come," 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 approximately $1 billion. Additional information about Metropolitan National Bank can be found at metbank.com.