Little Rock-based 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 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%.
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