Pomerantz LLP Launches Investigation Into Metropolitan Bank Holding Corp.

The inquiry follows the bank’s July 21 disclosure of financial results that missed analyst expectations for both revenue and GAAP net income. Central to the investigation is a significant spike in credit loss provisioning, which climbed to $13.3 million. Management blamed this surge on difficulties with a single commercial and industrial loan alongside the charge-off of a commercial real estate asset.

Investors reacted to the news on July 22, sending Metropolitan shares tumbling $8.88—a drop of nearly 9%. Pomerantz LLP, which specializes in corporate and securities litigation, is now inviting affected shareholders to contact attorney Danielle Peyton to discuss potential class action participation.