Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | METROPOLITAN BANK HOLDING CORP. |
Entity Central Index Key | 0001476034 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | PAY VERSUS PERFORMANCE We are required by SEC rules to disclose the following information regarding compensation paid to our NEOs. The amounts set forth below under the headings Compensation Actually Paid (“CAP”) to our Principal Executive Officer (“PEO”) or CEO and Average CAP to non-PEO NEOs have been calculated in a manner consistent with Item 402(v) of Regulation S-K. Footnote (2) below sets forth the adjustments from the Total Compensation for the PEO and non-PEO NEOs reported in the Summary Compensation Table above. The Compensation Committee does not utilize CAP as the basis for making compensation decisions. For further information concerning the Company’s variable pay-for-performance philosophy and how the Company aligns executive compensation with the Company’s performance, refer to “Compensation Discussion and Analysis.” Because CAP includes multiple years of grants, the calculation of CAP each year is heavily impacted by the change in the stock price and therefore, may be higher or lower than Summary Compensation Table compensation values. Year (1) Summary Compensation (2)(3) Average Average (2)(3) Value of Fixed $100 Net Non- (5) Total Peer Group (4) (a) (b) (c) (d) (e) (f) (g) (h) (i) 2022 4,612,094 2,045,247 960,656 249,561 122 116 59.4 16.6 % 2021 4,377,178 8,378,208 1,928,708 3,506,689 221 125 60.6 15.2 % 2020 2,034,435 1,013,573 901,166 621,579 75 91 39.5 12.9 % (1) The PEO in all three reporting years is Mark DeFazio. The other NEOs in the 2022 reporting year are Laura Capra, Scott Lublin, Nick Rosenberg, and Gregory Sigrist. The other NEOs in the 2021 reporting year are Scott Lublin and Nick Rosenberg. The other NEOs in the 2020 reporting year are Laura Capra and Scott Lublin. (2) SEC rules require certain adjustments be made to the Summary Compensation Table values to determine CAP. For purposes of the pension valuation adjustments, NEOs do not participate in any defined benefit plan and as such are not included in the below table. The following table details the applicable adjustments that were made to determine CAP. PEO Adjustments 2022 2021 2020 Summary Compensation Table Total 4,612,094 4,377,178 2,034,435 Deduct Fair Value of Equity Awards included in Summary Compensation Table 3,106,384 2,991,918 499,980 Add Fair Value of Awards Granted in Current Year and Outstanding and Unvested at Year-End 2,085,836 5,224,444 238,076 Add Change in Fair Value of Awards Granted in Prior Years (1,232,921 ) 397,882 (819,176 ) Add Fair Value of Awards Granted and Vested in Current Year — — 117,889 Add Change in Fair Value of Awards Granted in Prior Years (313,378 ) 1,370,622 (57,671 ) Total CAP 2,045,247 8,378,208 1,013,573 Non-PEO NEO Adjustments 2022 2021 2020 Summary Compensation Table Total 960,656 1,928,708 901,166 Deduct Fair Value of Equity Awards included in Summary Compensation Table 404,985 1,301,678 247,484 Add Fair Value of Awards Granted in Current Year and Outstanding and Unvested at Year-End 233,668 2,328,053 117,823 Add Change in Fair Value of Awards Granted in Prior Years and Outstanding and Unvested at Year-End (439,833 ) 159,560 (198,907 ) Add Fair Value of Awards Granted and Vested in Current Year — — 58,370 Add Change in Fair Value of Awards Granted in Prior Years that Vested during Year (99,945 ) 392,046 (9,389 ) Total CAP 249,561 3,506,689 621,579 (3) The fair value of performance shares/units reporting for CAP purposes in columns (c) and (e) reflects calculated performance at the end of the performance year for internal metrics, in accordance with FASB ASC 718. Performance share/units subject to internal metrics will ultimately vest based on measured performance through the end of the performance period. (4) Reflects the total shareholder return indexed to $100 per share for the KBW Regional Bank Index, which is the industry line peer group reported in our 2022 Form 10-K. (5) Adjusted ROATCE is a non-GAAP financial measure. Adjusted ROATCE is as reported in our fourth quarter 2022 earnings press releases. | ||
Company Selected Measure Name | Adjusted ROATCE | ||
Named Executive Officers, Footnote [Text Block] | (1) The PEO in all three reporting years is Mark DeFazio. The other NEOs in the 2022 reporting year are Laura Capra, Scott Lublin, Nick Rosenberg, and Gregory Sigrist. The other NEOs in the 2021 reporting year are Scott Lublin and Nick Rosenberg. The other NEOs in the 2020 reporting year are Laura Capra and Scott Lublin. | ||
Peer Group Issuers, Footnote [Text Block] | (4) Reflects the total shareholder return indexed to $100 per share for the KBW Regional Bank Index, which is the industry line peer group reported in our 2022 Form 10-K. | ||
PEO Total Compensation Amount | $ 4,612,094 | $ 4,377,178 | $ 2,034,435 |
PEO Actually Paid Compensation Amount | $ 2,045,247 | 8,378,208 | 1,013,573 |
Adjustment To PEO Compensation, Footnote [Text Block] | (2) SEC rules require certain adjustments be made to the Summary Compensation Table values to determine CAP. For purposes of the pension valuation adjustments, NEOs do not participate in any defined benefit plan and as such are not included in the below table. The following table details the applicable adjustments that were made to determine CAP. PEO Adjustments 2022 2021 2020 Summary Compensation Table Total 4,612,094 4,377,178 2,034,435 Deduct Fair Value of Equity Awards included in Summary Compensation Table 3,106,384 2,991,918 499,980 Add Fair Value of Awards Granted in Current Year and Outstanding and Unvested at Year-End 2,085,836 5,224,444 238,076 Add Change in Fair Value of Awards Granted in Prior Years (1,232,921 ) 397,882 (819,176 ) Add Fair Value of Awards Granted and Vested in Current Year — — 117,889 Add Change in Fair Value of Awards Granted in Prior Years (313,378 ) 1,370,622 (57,671 ) Total CAP 2,045,247 8,378,208 1,013,573 | ||
Non-PEO NEO Average Total Compensation Amount | $ 960,656 | 1,928,708 | 901,166 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 249,561 | 3,506,689 | 621,579 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | (2) SEC rules require certain adjustments be made to the Summary Compensation Table values to determine CAP. For purposes of the pension valuation adjustments, NEOs do not participate in any defined benefit plan and as such are not included in the below table. The following table details the applicable adjustments that were made to determine CAP. Non-PEO NEO Adjustments 2022 2021 2020 Summary Compensation Table Total 960,656 1,928,708 901,166 Deduct Fair Value of Equity Awards included in Summary Compensation Table 404,985 1,301,678 247,484 Add Fair Value of Awards Granted in Current Year and Outstanding and Unvested at Year-End 233,668 2,328,053 117,823 Add Change in Fair Value of Awards Granted in Prior Years and Outstanding and Unvested at Year-End (439,833 ) 159,560 (198,907 ) Add Fair Value of Awards Granted and Vested in Current Year — — 58,370 Add Change in Fair Value of Awards Granted in Prior Years that Vested during Year (99,945 ) 392,046 (9,389 ) Total CAP 249,561 3,506,689 621,579 | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | |||
Compensation Actually Paid vs. Net Income [Text Block] | |||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | |||
Total Shareholder Return Vs Peer Group [Text Block] | |||
Tabular List [Table Text Block] | Tabular List of Financial Performance Measures The following table identifies the most important financial performance measures used by the Company to link CAP to the Company’s NEOs in 2022 to Company performance. The role of each of these performance measures on our NEOs’ compensation is discussed in “Compensation Discussion and Analysis.” Financial Performance Measures Adjusted ROATCE Net Income Loans | ||
Total Shareholder Return Amount | $ 122 | 221 | 75 |
Peer Group Total Shareholder Return Amount | 116 | 125 | 91 |
Net Income (Loss) | $ 59,400,000 | $ 60,600,000 | $ 39,500,000 |
Company Selected Measure Amount | 16.6 | 15.2 | 12.9 |
PEO Name | Mark DeFazio | ||
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted ROATCE | ||
Non-GAAP Measure Description [Text Block] | (5) Adjusted ROATCE is a non-GAAP financial measure. Adjusted ROATCE is as reported in our fourth quarter 2022 earnings press releases. | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Net Income | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Loans | ||
PEO [Member] | Fair Value of Equity Awards included in Summary Compensation Table [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 3,106,384 | $ 2,991,918 | $ 499,980 |
PEO [Member] | Fair Value of Awards Granted in Current Year and Outstanding and Unvested at Year-End [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 2,085,836 | 5,224,444 | 238,076 |
PEO [Member] | Change in Fair Value of Awards Granted in Prior Years and Outstanding and Unvested at Year-End [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (1,232,921) | 397,882 | (819,176) |
PEO [Member] | Fair Value of Awards Granted and Vested in Current Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 117,889 | ||
PEO [Member] | Change in Fair Value of Awards Granted in Prior Years that Vested during Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (313,378) | 1,370,622 | (57,671) |
Non-PEO NEO [Member] | Fair Value of Equity Awards included in Summary Compensation Table [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 404,985 | 1,301,678 | 247,484 |
Non-PEO NEO [Member] | Fair Value of Awards Granted in Current Year and Outstanding and Unvested at Year-End [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 233,668 | 2,328,053 | 117,823 |
Non-PEO NEO [Member] | Change in Fair Value of Awards Granted in Prior Years and Outstanding and Unvested at Year-End [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (439,833) | 159,560 | (198,907) |
Non-PEO NEO [Member] | Fair Value of Awards Granted and Vested in Current Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 58,370 | ||
Non-PEO NEO [Member] | Change in Fair Value of Awards Granted in Prior Years that Vested during Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (99,945) | $ 392,046 | $ (9,389) |