Metropolitan Bank Holding (MCB) 10-K 9 Mar 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Mar. 05, 2020	Jun. 30, 2019
Document And Entity Information (Abstract)
Document Type	10-K
Document Period End Date	Dec. 31, 2019
Entity Registrant Name	METROPOLITAN BANK HOLDING CORP.
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Public Float			$ 306
Entity Common Stock, Shares Outstanding		8,300,687
Entity Central Index Key	0001476034
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Assets
Cash and due from banks	$ 10,176	$ 9,246
Overnight deposits	381,045	223,704
Total cash and cash equivalents	391,221	232,950
Investment securities available for sale, at fair value, substantially restricted	234,942	30,439
Investment securities held to maturity (estimated fair value of $3,712 and $4,403 at December 31, 2019 and 2018, respectively)	3,722	4,571
Equity investments	2,224	2,110
Total securities	240,888	37,120
Other investments	20,939	22,287
Loans, net of deferred fees and unamortized costs	2,672,949	1,865,216
Allowance for loan losses	(26,272)	(18,942)
Net loans	2,646,677	1,846,274
Receivable from prepaid card programs, net	10,078	8,218
Accrued interest receivable	8,862	5,507
Premises and equipment, net	12,100	6,877
Prepaid expenses and other assets	11,406	8,158
Goodwill	9,733	9,733
Accounts receivable, net	5,668	5,520
Total assets	3,357,572	2,182,644
Deposits:
Noninterest-bearing demand deposits	1,090,479	798,563
Interest-bearing deposits	1,700,295	861,991
Total deposits	2,790,774	1,660,554
Federal Home Loan Bank of New York advances	144,000	185,000
Trust preferred securities	20,620	20,620
Subordinated debt, net of issuance cost	24,601	24,545
Secured borrowings	42,972
Accounts payable, accrued expenses and other liabilities	23,556	18,439
Accrued interest payable	1,229	1,282
Prepaid third-party debit cardholder balances	10,696	7,687
Total liabilities	3,058,448	1,918,127
Commitments and Contingencies (See Note 11)
Stockholders' equity:
Common stock, $0.01 par value, 25,000,000 shares authorized, 8,312,918 and 8,217,274 shares issued and outstanding at December 31, 2019 and 2018, respectively	82	82
Additional paid in capital	216,468	213,490
Retained earnings	81,364	51,415
Accumulated other comprehensive loss, net of tax effect	1,207	(473)
Total stockholders’ equity	299,124	264,517
Total liabilities and stockholders’ equity	3,357,572	2,182,644
Class B Preferred Stock
Stockholders' equity:
Class B preferred stock, $0.01 par value, authorized 2,000,000 shares, 272,636 issued and outstanding at December 31, 2019 and 2018	3	3
Total stockholders’ equity	$ 3	$ 3

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Securities held to maturity	$ 3,712	$ 4,403
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	8,312,918	8,217,274
Common stock, shares outstanding	8,312,918	8,217,274
Class B Preferred Stock
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	272,636	272,636
Preferred stock, shares outstanding	272,636	272,636

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Interest and dividend income:
Loans, including fees	$ 117,124	$ 77,342
Securities:
Taxable	3,730	743
Tax-exempt	11	29
Money market funds and commercial paper	159	135
Overnight deposits	7,739	5,042
Other interest and dividends	1,017	654
Total interest income	129,780	83,945
Interest expense:
Deposits	25,533	9,103
Borrowed funds	4,118	1,149
Trust preferred securities interest expense	899	846
Subordinated debt interest expense	1,620	1,619
Total interest expense	32,170	12,717
Net interest income	97,610	71,228
Provision for loan losses	4,223	3,138
Net interest income after provision for loan losses	93,387	68,090
Non-interest income:
Service charges on deposit accounts	3,556	4,248
Prepaid third-party debit card income	5,643	4,640
Other service charges and fees	1,366	3,305
Unrealized gain on equity securities	64
Loss on call of securities		(37)
Total non-interest income	10,629	12,156
Non-interest expense:
Compensation and benefits	31,242	25,658
Bank premises and equipment	6,530	5,063
Professional fees	3,427	2,922
Technology costs	10,992	3,987
Other expenses	7,764	5,841
Total non-interest expense	59,955	43,471
Net income before income tax expense	44,061	36,775
Income tax expense	13,927	11,221
Net income	$ 30,134	$ 25,554
Earnings per common share:
Basic earnings per common share (in dollars per share)	$ 3.63	$ 3.12
Diluted earnings per common share (in dollars per share)	$ 3.56	$ 3.06

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 30,134	$ 25,554
Other comprehensive income (loss):
Unrealized holding gain (loss) arising during the period	2,358	(390)
Reclassification adjustments for net losses included in net income		37
Tax effect	(746)	86
Total unrealized gains (loss) on securities available for sale, net	1,612	(267)
Comprehensive income	$ 31,746	$ 25,287

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($)		Class B Preferred StockPreviously Reported	Class B Preferred StockRestatement Adjustment	Class B Preferred Stock	Previously ReportedCommon Stock	Previously ReportedAdditional Paid-in Capital	Previously ReportedRetained Earnings	Previously ReportedAOCI (Loss), Net	Previously Reported	Restatement AdjustmentCommon Stock	Restatement AdjustmentAdditional Paid-in Capital	Restatement AdjustmentRetained Earnings	Restatement AdjustmentAOCI (Loss), Net	Restatement Adjustment	Common Stock	Additional Paid-in Capital	Retained Earnings	AOCI (Loss), Net	Total
Balance at Dec. 31, 2017				$ 3,000											$ 81,000	$ 211,145,000	$ 25,861,000	$ (206,000)	$ 236,884,000
Balance (in shares) at Dec. 31, 2017				272,636											8,196,310
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock forfeited (in shares)															8,987
Employee and non-employee stock-based compensation																2,151,000			2,151,000
Exercise of stock options, net of redemption of common stock for exercise of stock options and tax withholdings for restricted stock vesting															$ 1,000	359,000			360,000
Exercise of stock options, net of redemption of common stock for exercise of stock options and tax withholdings for restricted stock vesting ( in shares)															11,977
Issuance of common stock, net	[1]															(33,000)			(33,000)
Repurchase of shares for exercise of stock options and tax withholding for restricted stock vesting																(132,000)			(132,000)
Net income																	25,554,000		25,554,000
Other comprehensive income (loss)																		(267,000)	(267,000)
Balance at Dec. 31, 2018				$ 3,000											$ 82,000	213,490,000	51,415,000	(473,000)	264,517,000
Balance (in shares) at Dec. 31, 2018				272,636											8,217,274
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of adopting new accounting standard | ASU 2014-09														$ 117,000
Balance at Jan. 01, 2019		$ 3,000	$ 3,000		$ 82,000	$ 213,490,000	$ 51,415,000	$ (473,000)	$ 264,517,000	$ 82,000	$ 213,490,000	$ 51,230,000	$ (405,000)	$ 264,400,000
Balance (in shares) at Jan. 01, 2019		272,636	272,636		8,217,274					8,217,274
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of adopting new accounting standard | ASU 2016-01																	68,000	(68,000)
Cumulative effect of adopting new accounting standard | ASU 2014-09																	(117,000)		(117,000)
Balance at Dec. 31, 2018				$ 3,000											$ 82,000	213,490,000	51,415,000	(473,000)	264,517,000
Balance (in shares) at Dec. 31, 2018				272,636											8,217,274
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock grants, net of forfeiture (in shares)															104,862
Employee and non-employee stock-based compensation																3,067,000			3,067,000
Repurchase of shares for exercise of stock options and tax withholding for restricted stock vesting																(89,000)			(89,000)
Repurchase of shares for exercise of stock options and tax withholding for restricted stock vesting (in shares)															(9,218)
Net income																	30,134,000		30,134,000
Other comprehensive income (loss)																		1,612,000	1,612,000
Balance at Dec. 31, 2019				$ 3,000											$ 82,000	$ 216,468,000	$ 81,364,000	1,207,000	$ 299,124,000
Balance (in shares) at Dec. 31, 2019				272,636											8,312,918
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of adopting new accounting standard | ASU 2016-01																		$ 68,000
[1]	Represents costs incurred in connection with the Company’s IPO completed in 2017

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 30,134	$ 25,554
Adjustments to reconcile net income to net cash:
Depreciation and amortization	1,613	1,355
Net amortization of premiums on securities	543	306
Amortization of subordinated debt issuance costs	56	56
Provision for loan and lease losses	4,223	3,138
Employee and non-employee stock-based compensation	3,067	2,151
Net change in deferred loan fees	2,837	1,063
Deferred income tax benefit	(1,865)	(1,531)
Loss on call of securities		37
Gain on sale of loans	(86)	(50)
Dividends earned on CRA fund	(50)
Unrealized gain of equity securities	(64)
Net change in:
Accrued interest receivable	(3,355)	(1,086)
Accounts payable, accrued expenses and other liabilities	5,117	(3,239)
Change in third-party debit cardholder balances	3,009	(1,195)
Change in accrued interest payable	(53)	533
Accounts receivable, net	(148)	1,081
Receivable from prepaid card programs, net	(1,860)	1,361
Prepaid expenses and other assets	(2,161)	(2,474)
Net cash provided by operating activities	40,957	27,060
Cash flows from investing activities:
Loan originations and payments, net	(777,181)	(279,794)
Loans purchased	(51,784)	(190,788)
Proceeds from the sale of loans held for sale	21,502	26,732
Redemptions of other investments	12,354	4,255
Purchases of other investments	(11,007)	(12,865)
Purchase of securities available for sale	(226,858)	(7,687)
Proceeds from calls of securities available for sale	1,065	1,463
Proceeds from paydowns and maturities of securities available for sale	23,136	5,252
Proceeds from paydowns of securities held to maturity	820	826
Purchase of premises and equipment, net	(6,836)	(1,964)
Net cash used in investing activities	(1,014,789)	(454,570)
Cash flows from financing activities:
Proceeds from exercise of stock options, net of redemptions		360
Redemption of common stock for tax withholdings for restricted stock vesting	(89)	(132)
Proceeds from FHLB advances	1,028,000	293,240
Repayments of FHLB advances	(1,069,000)	(150,438)
Proceeds from secured borrowings	42,972
Net increase in deposits	1,130,220	256,199
Net cash provided by financing activities	1,132,103	399,229
Increase (decrease) in cash and cash equivalents	158,271	(28,281)
Cash and cash equivalents at the beginning of the period	232,950	261,231
Cash and cash equivalents at the end of the period	391,221	232,950
Cash paid for:
Interest	32,223	12,184
Income Taxes	15,185	13,794
Non-cash item:
Transfer of loans held for investment to held for sale	$ 21,502	$ 26,682

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2019
ORGANIZATION
ORGANIZATION	NOTE 1 —  Metropolitan Bank Holding Corp. (a New York Corporation) (the “Company”) is a bank holding company whose principal activity is the ownership and management of Metropolitan Commercial Bank (the “Bank”), its wholly-owned subsidiary. The Bank’s primary market is the New York metropolitan area. The Bank offers a traditional range of commercial banking services to individuals, businesses and others needing banking services. Its primary lending products are commercial real estate loans, multi-family loans, and commercial and industrial loans. Substantially all loans are secured by specific items of collateral including business assets, consumer assets, and commercial and residential real estate. Commercial loans are expected to be repaid from cash flows from operations of businesses. The Bank’s primary deposit products are checking, savings, and term deposit accounts, and its deposit accounts are insured by the Federal Deposit Insurance Corporation (the “FDIC”) under the maximum amounts allowed by law. The Bank commenced operations on June 22, 1999. The Company is subject to regulations of certain state and federal agencies and, accordingly, is periodically examined by those regulatory authorities. As a consequence of the extensive regulation of commercial banking activities, the Company’s business is susceptible to being affected by state and federal legislation and regulations.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2019
BASIS OF PRESENTATION
BASIS OF PRESENTATION	NOTE 2  —  BASIS OF PRESENTATION The accounting and reporting policies of the Company conform with U.S. generally accepted accounting principles (“GAAP”) and predominant practices within the U.S. banking industry. The consolidated financial statements include the accounts of the Company and the Bank. All intercompany balances and transactions have been eliminated. The Consolidated Financial Statements (the “financial statements”) reflect all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the years presented. In preparing the financial statements, management has made estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reported periods. A summary of the Company’s significant accounting policies consistently applied in the preparation of the accompanying financial statements follows: Use of Estimates : To prepare financial statements in conformity with GAAP, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ from those estimates. Cash Flows : Cash and cash equivalents are defined as cash on hand and amounts due from banks and money market funds. Net cash flows are reported for customer loan and deposit transactions, and other investments. Securities : Debt securities are classified as held-to-maturity and carried at amortized cost when management has the positive intent and ability to hold them to maturity. Debt securities are classified as available-for-sale (“AFS”) when they might be sold before maturity. Securities available for sale are carried at fair value, with unrealized holding gains and losses reported in other comprehensive income, net of tax. Equity securities with readily determinable fair value are carried at fair value, with change in fair value reported in net income. On January 1, 2019, the Company adopted a new accounting standard for Financial Instruments (ASU 2016-01), which required equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. Upon adoption, equity securities previously classified as available-for-sale are presented separately on the balance sheet as equity securities. The amount of unrealized gain (loss), net of tax, related to these securities was reclassified from accumulated other comprehensive income to retained earnings as of January 1, 2019. Upon adoption, the amendments related equity securities without readily determinable fair values (including disclosure requirements) are being applied prospectively to equity investments that existed at January 1, 2019. Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Gains and losses on sales of securities are recognized in the consolidated statements of operations upon sale. Management evaluates AFS securities for other-than-temporary impairment (“OTTI”) on at least a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the statement of operations and 2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. Accounts Receivable & Receivable from Prepaid Card Programs, Net : Accounts receivables, net, primarily consist of the Bank’s in-transit items, trade receivables from prepaid debit card programs and other receivables. Receivables from prepaid card programs are predominantly government scheduled payments including financial assistance programs and pensions. Revenue Recognition : Most of the Company’s revenue is derived from interest income on loans. Any revenues from contracts with customers, which are not exempt from the accounting requirements under Accounting Standards Update (ASU) 2014‑09, Revenue from Contracts with Customers, are accounted for using the five-step method prescribed by the ASU. These revenue items are debit card income, service charges on deposit accounts and other service charges . In accordance with the ASU, revenue is recognized when a customer obtains control of promised services. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled to receive in exchange for these services. The Company applies the following five steps to properly recognize revenue: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when (or as) the entity satisfies a performance obligation. Technology Costs: Technology costs are primarily comprised of licensing fees on certain deposit accounts held by bankruptcy trustees. These accounts require the use of a software interface provided by a third party. Licensing fees amounted to $8.5 million and $1.0 million for 2019 and 2018, respectively. Bankruptcy accounts subject to the licensing fees amounted to $865.8 million and $80.8 million at December 31, 2019 and 2018, respectively. Transfers of Financial Assets : Transfers of financial assets are accounted for as sales, when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. Transfers of financial assets that do not meet the criteria to be accounted for as sales are recorded as secured borrowings. Loans and Allowance for Loan Losses : Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at their outstanding principal balances, adjusted for any charge-offs, the allowance for loan losses, and any deferred fees or costs on originated loans. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the level-yield method without anticipating prepayments. The allowance for loan losses is maintained at an amount management deems adequate to cover probable incurred credit losses. In determining the level to be maintained, management evaluates many factors, including current economic trends, industry experience, historical loss experience, loan concentrations, the borrower’s ability to repay and repayment performance and estimated collateral values. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged off. The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. A loan is considered to be impaired when it is probable that the Bank will be unable to collect all principal and interest amounts according to the contractual terms of the loan agreement. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported, net, at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected solely from the collateral. All commercial and commercial real estate loans are individually evaluated for credit risk at least annually, and all classified loans are individually evaluated for impairment quarterly. Large groups of smaller balance homogenous loans such as residential real estate loans are collectively evaluated for impairment, and accordingly, are not separately evaluated for impairment disclosures unless the individual loan is classified. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. When a loan is modified and concessions have been made to the original contractual terms, such as reductions in interest rate or deferral of interest or principal payments, due to the borrower’s financial condition, the modification is known as a troubled debt restructuring (“TDR”). TDRs are separately identified for impairment disclosures and are measured at the present value of estimated future cash flows using the loan’s effective rate at inception. If a TDR is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral. For TDRs that subsequently default, the Bank determines the amount of reserve in accordance with the accounting policy for the allowance for loan losses. The general component of the allowance covers non-impaired loans and is based on historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Bank over a rolling two-year period. This actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. These economic factors include consideration of the following: levels of and trends in delinquencies and impaired loans; levels of and trends in charge-offs and recoveries; trends in volume and terms of loans; effects on any changes in risk selection and underwriting standards; other changes in lending policies, procedures, and practices; experience, ability, and depth of lending management and other relevant staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentrations. The following portfolio segments have been identified: Construction loans, Commercial Real Estate loans, Multi-Family loans, One-to-Four Family loans, Commercial & Industrial loans and Consumer loans. The risk characteristics of each of the identified portfolio segments are as follows: Construction —  Construction financing is generally considered to involve a higher degree of risk of loss than long-term financing on improved, occupied real estate. Risk of loss on a construction loan depends largely upon the accuracy of the initial estimate of the property’s value at completion of construction and the estimated cost of construction. During the construction phase, a number of factors could result in delays and cost overruns. If the estimate of construction costs proves to be inaccurate, additional funds may be required to be advanced in excess of the amount originally committed to permit completion of the building. If the estimate of value proves to be inaccurate, the value of the building may be insufficient to assure full repayment if liquidation is required. If foreclosure is required on a building before or at completion due to a default, there can be no assurance that all of the unpaid balance of, and accrued interest on, the loan as well as related foreclosure and holding costs will be recovered. Commercial Real Estate —  Commercial real estate loans are secured by nonresidential real estate and generally have larger balances and involve a greater degree of risk than residential real estate loans. Repayment of commercial real estate loans depends on the total cash flow analysis of the borrower and the net operating income of the property, the borrower’s expertise, credit history and profitability, and the value of the underlying property. Of primary concern in commercial real estate lending is the borrower’s creditworthiness and the cash flows from the property. Payments on loans secured by income properties often depend on successful operation and management of the properties. As a result, repayment of such loans may be subject, to a greater extent than residential real estate loans, to adverse conditions in the real estate market or the economy. Commercial real estate is also subject to adverse market conditions that cause a decrease in market value or lease rates, obsolescence in location or function and market conditions associated with oversupply of units in a specific region. Multi-family —  Multi-family real estate loans are secured by multi-family real estate and generally have larger balances and involve a greater degree of risk than residential real estate loans. Repayment of multi-family real estate loans depends on the cash flow analysis of the property, occupancy rates, and unemployment rates, combined with the net operating income of the property, the borrower’s expertise, credit history and profitability, and the value of the underlying property. Payments on these loans depend on successful operation and management of the properties, and repayment of such loans may be subject to adverse conditions in the real estate market or the economy. One-to-Four Family —  One-to-four family loans are generally made on the basis of the borrower’s ability to make repayment from his or her employment income or other income, and which are secured by real property whose value tends to be more easily ascertainable. Repayment of one-to-four family loans is subject to adverse employment conditions in the local economy leading to increased default rates and decreased market values from oversupply in a geographic area. In general, these loans depend on the borrower’s continuing financial stability and, therefore, are likely to be adversely affected by various factors, including job loss, divorce, illness, or personal bankruptcy. Furthermore, the application of various federal and state laws, including federal and state bankruptcy and insolvency laws, may limit the amount that can be recovered on such loans. Commercial & Industrial —  Commercial & Industrial loans are generally of higher risk and typically are made on the basis of the borrower’s ability to make repayment from the cash flows of the borrower’s business. As a result, the availability of funds for the repayment of commercial loans may depend substantially on the success of the business itself. Furthermore, any collateral securing such loans may depreciate over time, may be difficult to appraise, and may fluctuate in value. Consumer —  The Bank purchases loans made to licensed medical professionals on an unsecured basis. Consumer loans are comprised of these loans and student loans. As a result, repayment of such loans are subject, to a greater extent than loans secured by collateral, to the financial condition of the borrower. While management uses available information to recognize losses on loans, future additions to the allowance may be necessary, based on changes in economic conditions or any other factors used in management’s determination. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Bank’s allowance for loan losses. Such agencies may require the Bank to recognize additions to the allowance based on their judgments about information available to them at the time of their examination. Interest income on loans is accrued and credited to operations based upon the principal amounts outstanding. Loans are placed on non-accrual when a loan is specifically determined to be impaired or when principal or interest is delinquent for 90 days or more. Delinquent status is based on the contractual terms of the loan. Any unpaid interest previously accrued on those loans is reversed from income. Interest payments received on such loans are applied as a reduction of the loan principal balance when the collectability of principal, wholly or partially, is in doubt. Interest payments received may be deferred on nonaccrual loans in which the principal balance is deemed to be collectible. Interest income is recognized when all the principal and interest amounts contractually due are brought current and the loans are returned to accrual status. Goodwill : Goodwill and certain other intangibles generally arise from business combinations accounted for under the purchase method of accounting. Goodwill and other intangibles deemed to have indefinite lives generated from business combinations are not subject to amortization and are instead tested for impairment not less than annually or more frequently if events and circumstances exist that indicate that a goodwill impairment test should be performed. The Company has selected December 31 as the date to perform the annual impairment test. The goodwill of $9.7 million is associated with a purchase of the prepaid third-party debit card business. The Company performed an impairment assessment and determined that no impairment of goodwill existed as of December 31, 2019 or 2018. Stock-Based Compensation : Compensation cost is recognized for stock options, restricted stock awards and restricted stock units, based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of options. The market price of the Company’s common stock at the date of grant is used for restricted stock awards and restricted stock units. Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. The Company also awards performance-based restricted stock units (“PRSUs”) to employees. The PRSUs are classified as either equity or liability, depending on certain criteria provided in ASC 718, Stock Based Compensation. This classification affects whether the measurement of fair value is fixed (i.e., measured only once) on the grant date or whether fair value will be remeasured each reporting period until settled. On the grant date, the estimate of equity-classified awards’ fair value would be fixed, the cumulative amount of previously recognized compensation cost would be adjusted, and the Company would no longer have to remeasure the award. If the award is liability-classified, the awards would continue to be marked to fair value each reporting period until settlement. The Company recognizes compensation cost for awards with performance conditions if and when it concludes that it is probable that the performance conditions will be achieved. The Company assesses the probability of vesting (i.e. that the performance conditions will be met) at each reporting period and, if required, adjusts compensation cost based on its probability assessment. Concentrations of Credit Risk : Financial instruments, which potentially subject the Bank to concentration of credit risk, consist primarily of temporary cash investments including due from banks, interest-bearing deposits with banks and real estate loans receivable. A significant portion of real estate loans are collateralized by property in the New York Metropolitan area. The ultimate collectability of these loans may be susceptible to changes in the real estate market in this area. Premises and Equipment : Premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is computed over the estimated useful lives of the assets by the straight-line method with useful lives ranging from three to ten years. Leasehold improvements are amortized over the shorter of the terms of the respective leases or the estimated lives of the improvements. Other Investments : Other investments includes Federal Reserve Bank (“FRB”) stock, Federal Home Loan Bank (“FHLB”) stock and investments in the Solomon Hess SBA Loan Fund (“SBA Loan Fund”). Other investments also include a $500,000 investment in The Disability Opportunity Fund, which is an equity equivalent investment to a community development financial institution. The investment was made by the Bank in 2018.The Bank is a member of the FRB and the FHLB systems. Members are required to own a certain amount of stock based on the level of borrowings and other factors. FRB and FHLB stock are carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. The investment in the SBA Fund is recorded at cost and periodically evaluated for impairment. The Company held FRB and FHLB stock of  $7.3 million and $8.1 million, respectively, and an SBA Loan Fund investment of  $5.0 million as of December 31, 2019. As of December 31, 2018, the Company held FRB and FHLB stock of $7.3 million and $9.5 million, respectively, and an SBA loan Fund investment of $5.0 million. Comprehensive Income : Comprehensive income consists of net income and other comprehensive income (loss). Other comprehensive income (loss) includes unrealized gains and losses on securities available for sale which are also recognized as separate components of equity. Restrictions on Cash : Cash on hand or on deposit with the FRB was required to meet regulatory reserve and clearing requirements. Also included in cash was $10.6 million and $9.4 million of cash held in escrow and collateral accounts for third-party debit card program managers as of December 31, 2019 and 2018, respectively. Earnings per Common Share : Basic earnings per common share is computed by dividing net income available to common stockholders by the weighted average number of shares outstanding during the applicable period, excluding outstanding participating securities. Diluted earnings per common share is computed using the weighted average number shares determined for the basic computation plus the dilutive effect of potential common shares issuable under certain stock compensation plans. Unvested share-based awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and are included in the computation of earnings per share pursuant to the two-class method. The Company has determined that its outstanding non-vested stock awards are participating securities and that its outstanding non-vested restricted stock units and PRSUs are non-participating securities. Income Taxes : Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities as measured by the enacted tax rates which will be in effect when these differences reverse. The primary temporary difference relates to the allowance for loan losses. A valuation allowance is recorded, as necessary, to reduce deferred tax assets to an estimated amount expected to be realized. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. Loan Commitments and Related Financial Instruments : Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. Fair Value of Financial Instruments : Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in a separate note. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates. Loss Contingencies : Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe there now are such matters that will have a material effect on the financial statements. Reclassifications : Some items in the prior year financial statements may have been reclassified to conform to the current presentation. Reclassification had no effect on prior year net income or stockholders’ equity. Operating segments : While department heads monitor the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Company-wide basis. Operating segments are aggregated into one as operating results for all segments are similar. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment. Recently Issued Accounting Standards : Pursuant to the Jumpstart Our Business Startups Act (“JOBS Act”), an Emerging Growth Company (“EGC”) is permitted to elect to adopt new accounting guidance using adoption dates of nonpublic entities. The Company elected delayed effective dates of recently issued accounting standards.

SUMMARY OF RECENT ACCOUNTING PR

SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS	12 Months Ended
	Dec. 31, 2019
SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS
SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS	NOTE 3 — SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS Accounting Standards Update (ASU) 2014‑09, Revenue from Contracts with Customers (Topic 606) implements a common revenue standard that clarifies the principles for recognizing revenue. The core principle of ASU 2014‑09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when (or as) the entity satisfies a performance obligation. In August 2016, the Financial Accounting Standards Board (“FASB”) deferred the effective date of the ASU by one year which means ASU 2014‑09 is effective for the Company beginning January 1, 2019. The Company adopted the new revenue guidance as January 1, 2019, using the five-step model prescribed by the ASU and described above. Management evaluated the Company’s revenue streams and recorded an adjustment to opening retained earnings of $117,000 in accordance with the modified retrospective method allowed by the ASU. In January 2016, the FASB issued ASU 2016‑01, an amendment to Recognition and Measurement of Financial Assets and Financial Liabilities (Subtopic 825‑10). The objectives of the ASU are to: (1) require equity investments to be measured at fair value, with changes in fair value recognized in net income, (2) simplify the impairment assessment of equity investments without readily determinable fair values, (3) eliminate the requirement to disclose methods and significant assumptions used to estimate fair value for financial instruments measured at amortized cost on the balance sheet, (4) require the use of the exit price notion when measuring the fair value of financial instruments, and (5) clarify the need for a valuation allowance on a deferred tax asset related to AFS securities in combination with the entity’s other deferred tax assets. In February 2018, the FASB issued ASU 2018‑03, Technical Corrections and Improvements to Financial Instruments – Overall – Recognition and Measurement of Financial Assets and Liabilities, an amendment to ASU 2016‑01. The amendments clarify certain aspects of the guidance issued in ASU 2016‑01. The Company adopted these ASUs on January 1, 2019. The Company evaluated the impact of ASU 2016‑01 and 2018‑03 and recorded $68,000, net of tax, as an adjustment to opening retained earnings and accumulated other comprehensive income in accordance with the modified retrospective method allowed by the ASU. In February 2016, the FASB issued ASU 2016‑02, Leases (Topic 842). ASU 2016‑02 requires companies that lease valuable assets to recognize on their balance sheets the assets and liabilities generated by contracts longer than a year. In September 2019, the FASB approved a delay for the implementation of the ASU. Accordingly, the amendments in this update are effective for the Company for fiscal years beginning after December 15, 2020, and interim periods within fiscal years beginning after December 15, 2021; however, early adoption is permitted. Under ASU 2016‑02, the Company will recognize a right-of-use asset and a lease obligation liability on the consolidated statement of financial condition, which will increase the Company’s assets and liabilities. The Company is evaluating other potential impacts of ASU 2016‑02 on its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016‑13, Financial Instruments – Credit Losses (Topic 326), which requires the measurement of all expected credit losses for financial assets held at the reporting date be based on historical experience, current condition, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. This guidance also amends the accounting for credit losses on AFS debt securities and purchased financial assets with credit deterioration. In October 2019, the FASB approved a delay for the implementation of the ASU. Accordingly, as an EGC, the Company’s effective date for the implementation of the ASU will be January 1, 2023. Management has established a committee to evaluate the impact of ASU 2016‑13 on the Company’s financial statements. The Company expects to recognize a one-time cumulative adjustment to the allowance for loan losses as of the beginning of the reporting period in which the ASU takes effect but cannot yet determine the magnitude of the impact on the consolidated financial statements. In January 2017, the FASB issued ASU 2017‑04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which eliminates the second step in the goodwill impairment test which requires an entity to determine the implied fair value of the reporting unit’s goodwill. Instead, an entity should recognize an impairment loss if the carrying value of the net assets assigned to the reporting unit exceeds the fair value of the reporting unit, with the impairment loss not to exceed the amount of goodwill allocated to the reporting unit. The standard is effective for the Company beginning January 1, 2021, with early adoption permitted for goodwill impairment tests performed after January 1, 2017. Management expects that ASU 2017‑04 will not have a material impact on its consolidated financial statements. In March 2017, the FASB issued ASU 2017‑08, Premium Amortization on Purchased Callable Debt Securities, which shortens the amortization period for the premium on certain purchased callable debt securities to the earliest call date. Today, entities generally amortize the premium over the contractual life of the security. The new guidance does not change the accounting for purchased callable debt securities held at a discount as discounts continue to be amortized to maturity. ASU No. 2017‑08 is effective for interim and annual reporting periods beginning after December 15, 2019 and early adoption is permitted. At December 31, 2019, the Company did not own any purchased callable debt securities. Management expects that ASU 2017-07 will not have a material impact on its consolidated financial statements. On February 14, 2018, the FASB issued final guidance in the form of ASU 2018‑02, which permits — but does not require — companies to reclassify stranded tax effects caused by the 2017 tax reform from accumulated other comprehensive income to retained earnings. Additionally, the ASU requires new disclosures by all companies, whether they opt to do the reclassification or not. ASU 2018-02 became effective for the Company on January 1, 2019 and the Company opted not to make the reclassification under ASU 2018-02.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	12 Months Ended
	Dec. 31, 2019
INVESTMENT SECURITIES
INVESTMENT SECURITIES	NOTE 4 — INVESTMENT SECURITIES The following table summarizes the amortized cost and fair value of securities available for sale and securities held to maturity at December 31, 2019 and 2018 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) and gross unrecognized gains and losses (dollars in thousands): Gross Gross Unrealized/ Unrealized/ Amortized Unrecognized Unrecognized At December 31, 2019 Cost Gains Losses Fair Value Debt securities available for sale Residential mortgage securities $ 175,902 $ 1,478 $ (117) $ 177,263 Commercial mortgage securities 32,284 206 (18) 32,472 U.S. Government agency securities 25,000 207 — 25,207 Total securities available for sale $ 233,186 $ 1,891 $ (135) $ 234,942 Held-to-Maturity Securities: Residential mortgage securities 3,722 9 (19) 3,712 Total securities held to maturity $ 3,722 $ 9 $ (19) $ 3,712 Equity investments: CRA Mutual Fund 2,258 — (34) 2,224 Total equity investment securities $ 2,258 $ — $ (34) $ 2,224 Gross Gross Unrealized/ Unrealized/ Amortized Unrecognized Unrecognized At December 31, 2018 Cost Gains Losses Fair Value Debt securities available for sale Residential mortgage securities $ 24,093 $ 3 $ (583) $ 23,513 Commercial mortgage securities 5,874 — (25) 5,849 Municipal bond 1,074 3 — 1,077 Total securities available for sale $ 31,041 $ 6 $ (608) $ 30,439 Held-to-Maturity Securities: Residential mortgage securities 4,546 — (168) 4,378 Foreign government securities 25 — — 25 Total securities held to maturity $ 4,571 $ — $ (168) $ 4,403 Equity investments: CRA Mutual Fund $ 2,208 — (98) 2,110 Total equity investment securities $ 2,208 $ — $ (98) $ 2,110 The proceeds from calls of securities during the years ended December 31, 2019 and 2018 were $1.1 million and $1.5 million, respectively. There were no gains or losses on the call of securities during the year ended December 31, 2019. Loss on calls of securities during the year ended December 31, 2018 were $37,000. The following table summarizes, by contractual maturity, amortized cost and fair value of debt securities at December 31, 2019 and 2018. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. The table does not include the effect of principal repayments. Equity securities, primarily investment in mutual funds, have been excluded from the table. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately (dollars in thousands): Held-to-Maturity Available-for-Sale At December 31, 2019 Amortized Cost Fair Value Amortized Cost Fair Value Within one year $ — $ — $ — $ — One to five years — — — — Five to ten years — — 25,000 25,207 Due after ten years — — — — Total $ — $ — $ 25,000 $ 25,207 Residential mortgage securities $ 3,722 $ 3,712 $ 175,902 $ 177,263 Commercial mortgage securities — — 32,284 $ 32,472 Total Securities $ 3,722 $ 3,712 $ 233,186 $ 234,942 Held-to-Maturity Available-for-Sale At December 31, 2018 Amortized Cost Fair Value Amortized Cost Fair Value Within one year $ 25 $ 25 $ 257 $ 258 One to five years — — — — Five to ten years — — — — Due after ten years — — 817 819 Total $ 25 $ 25 $ 1,074 $ 1,077 Residential mortgage securities $ 4,546 $ 4,378 $ 24,093 $ 23,513 Commercial mortgage securities — — 5,874 $ 5,849 Total Securities $ 4,571 $ 4,403 $ 31,041 $ 30,439 There were $126.2 million of AFS securities pledged as collateral for certain deposits at December 31, 2019. There were no securities pledged at December 31, 2018. At December 31, 2019 and 2018, all of the mortgage-backed securities and collateralized mortgage obligations held by the Bank were issued by U.S. government-sponsored entities and agencies. Securities with unrealized losses for the years ended December 31, 2019 and 2018, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows (dollars in thousands): Less than 12 Months 12 months or more Total Unrealized/ Unrealized/ Unrealized/ Estimated Unrecognized Estimated Unrecognized Estimated Unrecognized At December 31, 2019 Fair Value Losses Fair Value Losses Fair Value Losses Debt securities available for sale Residential mortgage securities $ 22,850 $ (52) $ 6,728 $ (65) $ 29,578 $ (117) Commercial mortgage securities 9,911 (18) — — 9,911 (18) Total securities available for sale $ 32,761 $ (70) $ 6,728 $ (65) $ 39,489 $ (135) Held-to-Maturity Securities: Residential mortgage securities $ — $ — $ 1,470 $ (19) $ 1,470 $ (19) Total securities held to maturity $ — $ — $ 1,470 $ (19) $ 1,470 $ (19) Equity investments: CRA Mutual Fund $ — $ — $ 2,224 $ (34) $ 2,224 $ (34) Total equity investment securities $ — $ — $ 2,224 $ (34) $ 2,224 $ (34) Less than 12 Months 12 months or more Total Unrealized/ Unrealized/ Unrealized/ Estimated Unrecognized Estimated Unrecognized Estimated Unrecognized At December 31, 2018 Fair Value Losses Fair Value Losses Fair Value Losses Debt securities available for sale Residential mortgage securities $ 10,374 $ (73) $ 9,890 $ (510) $ 20,264 $ (583) Commercial mortgage securities — — 5,849 (25) 5,849 (25) Total securities available for sale $ 10,374 $ (73) $ 15,739 $ (535) $ 26,113 $ (608) Held-to-Maturity Securities: Residential mortgage securities $ — $ — $ 4,378 $ (168) $ 4,378 $ (168) Total securities held to maturity $ — $ — $ 4,378 $ (168) $ 4,378 $ (168) Equity investments: CRA Mutual Fund $ — $ — $ 2,110 $ (98) $ 2,110 $ (98) Total equity investment securities $ — $ — $ 2,110 $ (98) $ 2,110 $ (98) The unrealized losses of securities are primarily due to the changes in market interest rates subsequent to purchase. The Bank does not consider these securities to be other-than-temporarily impaired at December 31, 2019 and 2018 since the decline in market value was attributable to changes in interest rates and not credit quality. In addition, the Bank does not intend to sell and does not believe that it is more likely than not that it will be required to sell these investments until there is a full recovery of the unrealized loss, which may be at maturity. As a result, no impairment loss was recognized during the years ended December 31, 2019 or 2018. As of December 31, 2019 and 2018, there were no holdings of securities of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of stockholders’ equity.

LOANS

LOANS	12 Months Ended
	Dec. 31, 2019
LOANS
LOANS	NOTE 5  — LOANS Net loans consist of the following as of December 31, 2019 and 2018 (dollars in thousands): December 31, 2019 December 31, 2018 Real estate Commercial $ 1,668,236 $ 949,778 Construction 30,827 42,540 Multi-family 375,611 307,126 One-to-four family 82,670 79,423 Total real estate loans 2,157,344 1,378,867 Commercial and industrial 448,619 381,692 Consumer 71,956 106,790 Total loans 2,677,919 1,867,349 Deferred fees (4,970) (2,133) Loans, net of deferred fees and unamortized costs 2,672,949 1,865,216 Allowance for loan losses (26,272) (18,942) Balance at the end of the period $ 2,646,677 $ 1,846,274 The following tables represent the changes in the allowance for loan losses for the years ended December 31, 2019 and 2018, by portfolio segment. The portfolio segments represent the categories that the Bank uses to determine its allowance for loan losses (dollars in thousands): Commercial Commercial One-to-four Year ended December 31, 2019 Real Estate & Industrial Construction Multi-family Family Consumer Total Allowance for loan losses: Beginning balance $ 9,037 $ 6,257 $ 625 $ 2,047 $ 228 $ 748 $ 18,942 Provision (credit) for loan losses 6,280 (2,678) (214) 406 39 390 4,223 Loans charged-off — (798) — — — (389) (1,187) Recoveries — 4,289 — — — 5 4,294 Total ending allowance balance $ 15,317 $ 7,070 $ 411 $ 2,453 $ 267 $ 754 $ 26,272 Commercial Commercial One-to-four Year ended December 31, 2018 Real Estate & Industrial Construction Multi-family Family Consumer Total Allowance for loan losses: Beginning balance $ 7,136 $ 5,578 $ 519 $ 1,156 $ 138 $ 360 $ 14,887 Provision (credit) for loan losses 1,978 (717) 106 891 90 790 3,138 Loans charged-off (77) (304) — — — (402) (783) Recoveries — 1,700 — — — — 1,700 Total ending allowance balance $ 9,037 $ 6,257 $ 625 $ 2,047 $ 228 $ 748 $ 18,942 Total charge offs were $1.2 million and $783,000 during the years ended December 31, 2019 and 2018, respectively. The provision for loan losses for the year ended December 31, 2019 was $4.2 million, as compared to $3.1 million for year ended December 31, 2018. The required provision for loan losses for the year ended December 31, 2019 was reduced due to $4.3 million of recoveries related primarily to the recovery of medallion loans previously charged off in 2017 and 2016. The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment based on impairment method as of December 31, 2019 and 2018 (dollars in thousands): Commercial Commercial One-to-four At December 31, 2019 Real Estate & Industrial Construction Multi-family Family Consumer Total Allowance for loan losses: Individually evaluated for impairment $ — $ 805 $ — $ — $ 64 $ 311 $ 1,180 Collectively evaluated for impairment 15,317 6,265 411 2,453 203 443 25,092 Total ending allowance balance $ 15,317 $ 7,070 $ 411 $ 2,453 $ 267 $ 754 $ 26,272 Loans: Individually evaluated for impairment $ 367 $ 1,047 $ — $ — $ 3,384 $ 728 $ 5,526 Collectively evaluated for impairment 1,667,869 447,572 30,827 375,611 79,286 71,228 2,672,393 Total ending loan balance $ 1,668,236 $ 448,619 $ 30,827 $ 375,611 $ 82,670 $ 71,956 $ 2,677,919 Commercial Commercial One-to-four At December 31, 2018 Real Estate & Industrial Construction Multi-family Family Consumer Total Allowance for loan losses: Individually evaluated for impairment $ — $ — $ — $ — $ — $ 44 $ 44 Collectively evaluated for impairment 9,037 6,257 625 2,047 228 704 18,898 Total ending allowance balance $ 9,037 $ 6,257 $ 625 $ 2,047 $ 228 $ 748 $ 18,942 Loans: Individually evaluated for impairment $ 383 $ — $ — $ — $ 1,078 $ 89 $ 1,550 Collectively evaluated for impairment 949,395 381,692 42,540 307,126 78,345 106,701 1,865,799 Total ending loan balance $ 949,778 $ 381,692 $ 42,540 $ 307,126 $ 79,423 $ 106,790 $ 1,867,349 The following tables present information related to loans determined to be impaired by class of loans as of and for the years ended December 31, 2019 and 2018 (dollars in thousands): Unpaid Principal Allowance for Loan Average Recorded Interest Income At December 31, 2019 Balance Recorded Investment Losses Allocated Investment Recognized With an allowance recorded: One-to-four family $ 633 $ 503 $ 64 $ 411 $ 19 Consumer 731 728 311 311 13 C&I 1,047 1,047 805 419 — Total $ 2,411 $ 2,278 $ 1,180 $ 1,141 $ 32 Without an allowance recorded: One-to-four family 3,028 $ 2,881 $ — $ 2,063 $ 124 Commercial real estate 367 367 — 375 15 Total $ 3,395 $ 3,248 $ — $ 2,438 $ 139 Unpaid Principal Allowance for Loan Average Recorded Interest Income At December 31, 2018 Balance Recorded Investment Losses Allocated Investment Recognized With an allowance recorded: One-to-four family — — — 111 — Consumer 105 89 44 157 7 Total $ 105 $ 89 $ 44 $ 268 $ 7 Without an allowance recorded: One-to-four family 1,355 1,078 — 1,477 59 Commercial real estate 385 383 — 1,471 87 Total $ 1,740 $ 1,461 $ — $ 2,948 $ 146 The recorded investment in loans excludes accrued interest receivable and loan origination fees. Interest income was recognized on a cash basis for impaired loans. Interest income that would have been recorded for the year ended December 31, 2019 had non-accrual loans been current according to their original terms amounted to $144,000. The Bank recognized $94,000 of interest income for these loans for the year ended December 31, 2019. Interest income that would have been recorded for the year ended December 31, 2018, had non-accrual loans been current according to their original terms, amounted to $14,000. The Bank recognized $12,000 of interest income for these loans for the year ended December 31, 2018. For a loan to be considered impaired, management determines after review whether it is probable that the Bank will be able to collect all amounts due according to the contractual terms of the loan agreement. Management applies its normal loan review procedures in making these judgments. Impaired loans include individually classified nonaccrual loans and TDRs. Impairment is determined based on the present value of expected future cash flows discounted at the loan’s effective interest rate. For loans that are collateral dependent, the fair value of the collateral is used to determine the fair value of the loan. The fair value of the collateral is determined based on recent appraised values. The fair value of the collateral or present value of expected cash flows is compared to the carrying value to determine if any write-down or specific loan loss allowance allocation is required. The following tables present the recorded investment in non-accrual loans, loans past due over 90 days and still accruing by class of loans as of December 31, 2019 and 2018 (dollars in thousands): At December 31, 2019 Nonaccrual Loans Past Due Over 90 Days Still Accruing Commercial & industrial 1,047 408 One-to-four family 2,345 — Consumer 693 — Total $ 4,085 $ 408 At December 31, 2018 Nonaccrual Loans Past Due Over 90 Days Still Accruing Commercial & industrial — 239 Consumer 50 — Total $ 50 $ 239 All TDRs at December 31, 2019 and 2018 were performing in accordance with their structured terms. The following table presents the aging of the recorded investment in past due loans by class of loans as of December 31, 2019 and 2018 (dollars in thousands): Greater 30-59 60-89 than 90 Total past Current At December 31, 2019 Days Days days due loans Total Commercial real estate $ — $ — $ — $ — $ 1,668,236 $ 1,668,236 Commercial & industrial 346 — 1,455 1,801 446,818 448,619 Construction — — — — 30,827 30,827 Multi-family — — — — 375,611 375,611 One-to-four family — — — — 82,670 82,670 Consumer 636 14 693 1,343 70,613 71,956 Total $ 982 $ 14 $ 2,148 $ 3,144 $ 2,674,775 $ 2,677,919 Greater 30-59 60-89 than 90 Total past Current At December 31, 2018 Days Days days due loans Total Commercial real estate $ — $ — $ — $ — $ 949,778 $ 949,778 Commercial & industrial 1,670 95 239 2,004 379,688 381,692 Construction — — — — 42,540 42,540 Multi-family — — — — 307,126 307,126 One-to-four family 870 — — 870 78,553 79,423 Consumer 119 43 50 212 106,578 106,790 Total $ 2,659 $ 138 $ 289 $ 3,086 $ 1,864,263 $ 1,867,349 Troubled Debt Restructurings Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered TDRs and are classified as impaired. Included in impaired loans at December 31, 2019 and 2018 were loans modified as TDRs with a recorded investment of $1.4 million and $1.5 million, respectively. The Company had allocated $81,000 and $19,000 of specific reserves to customers whose loan terms have been modified as TDRs as of December 31, 2019 and 2018, respectively. The Company has not committed to lend additional amounts as of December 31, 2019 and 2018 to customers with outstanding loans that are classified as TDRs. The following tables present the recorded investment in TDRs by class of loans as of December 31, 2019 and 2018 (dollars in thousands): At December 31, 2019 Troubled Debt Restructuring Commercial real estate $ 367 One-to-four family 1,039 Consumer 35 Total $ 1,441 At December 31, 2018 Troubled Debt Restructuring Commercial real estate $ 383 One-to-four family 1,078 Consumer 39 Total $ 1,500 There were no loans modified as a TDR during the year ended December 31, 2019. TDRs include loans with one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk. Modifications involving a reduction of the stated interest rate and/or an extension of the maturity date were for a period of three to five years. In 2019 and 2018 there were no TDRs for which there was a payment default within twelve months following the modification. A loan is considered to be in payment default once it is 90 days contractually past due under the modified terms. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Bank’s internal underwriting policy. Credit Quality Indicators The Bank categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. Except for one-to-four family loans and consumer loans, the Bank analyzes loans individually by classifying the loans as to credit risk at least annually. For one-to-four family loans and consumer loans, the Bank evaluates credit quality based on the aging status of the loan, which was previously presented. An analysis is performed on a quarterly basis for loans classified as special mention, substandard, or doubtful. The Bank uses the following definitions for risk ratings: Special Mention —  Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard —  Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful —  Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass-rated loans. Based on the most recent analysis performed, the risk category of loans by class of loans is as follows (dollars in thousands): Special At December 31, 2019 Pass Mention Substandard Doubtful Total Commercial real estate $ 1,667,869 $ 367 $ — $ — $ 1,668,236 Commercial & industrial 446,612 — 960 1,047 448,619 Construction 30,827 — — — 30,827 Multi-family 375,611 — — — 375,611 Total $ 2,520,919 $ 367 $ 960 $ 1,047 $ 2,523,293 Special At December 31, 2018 Pass Mention Substandard Doubtful Total Commercial real estate $ 949,395 $ 383 $ — $ — $ 949,778 Commercial & industrial 381,692 — — — 381,692 Construction 41,044 1,496 — — 42,540 Multi-family 307,126 — — — 307,126 Total $ 1,679,257 $ 1,879 $ — $ — $ 1,681,136

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT	12 Months Ended
	Dec. 31, 2019
PREMISES AND EQUIPMENT
PREMISES AND EQUIPMENT	NOTE 6 — PREMISES AND EQUIPMENT Premises and equipment are summarized as follows as of December 31, 2019 and 2018 (dollars in thousands): Year Ended December 31, 2019 2018 Furniture and Equipment (useful life of 3 to 7 years) $ 9,961 $ 8,773 Furniture and Equipment in Process 2,175 — Leasehold Improvements (useful life of 3 to 10 years) 11,092 11,387 Leasehold Improvements in Process 3,768 — Total Premises and Equipment 26,996 20,160 Less accumulated depreciation and amortization (14,896) (13,283) Total Premises and Equipment, net $ 12,100 $ 6,877 Depreciation and amortization expense amounted to $1.6 million and $1.4 for the years ended December 31, 2019 and 2018, respectively.

DEPOSITS

DEPOSITS	12 Months Ended
	Dec. 31, 2019
DEPOSITS
DEPOSITS	NOTE 7 — DEPOSITS Deposits consisted of the following as of December 31, 2019 and 2018 (dollars in thousands): At December 31, 2019 2018 Noninterest bearing demand accounts $ 1,090,479 $ 798,563 Money market 1,573,716 745,040 Savings accounts 16,204 19,950 Time Deposits: Time deposits under $100,000 5,483 7,045 Time deposits $100,000 and over 104,892 89,956 Total deposits $ 2,790,774 $ 1,660,554 Time deposits greater than $250,000 at December 31, 2019 and 2018 were $61.4 million and $64.6 million, respectively. The following are scheduled maturities of time deposits as of December 31, 2019 (dollars in thousands): At December 31, 2019 2020 $ 91,884 2021 14,265 2022 859 2023 448 2024 2,919 Total time deposits $ 110,375

BORROWINGS

BORROWINGS	12 Months Ended
	Dec. 31, 2019
BORROWINGS
BORROWINGS	NOTE 8 — BORROWINGS Borrowings from the FHLB at December 31, 2019 and 2018 were as follows (dollars in thousands): 2019 2018 Maturing in 2020, fixed rate at rates from 1.86% to 2.09%, weighted averaging 2.02% $ 144,000 $ — Maturing in 2019, fixed rate at rates from 2.47% to 2.73%, weighted averaging 2.64% — 185,000 Total $ 144,000 $ 185,000 Each advance is payable at its maturity date, with a prepayment penalty for fixed rate advances. The advances are collateralized by mortgage loans under a blanket lien agreement in the amount of approximately $437.8 million and $249.7 million as of December 31, 2019 and 2018, respectively. Based on this collateral and the Company’s holdings of FHLB stock, the Company is eligible to borrow an additional total of approximately $293.8 million as of December 31, 2019. FHLB advances that mature over the next five years and thereafter as follows (dollars in thousands): Principal 2020 $ 144,000 2021 — 2022 — 2023 — 2024 — Total $ 144,000 Trust Preferred Securities Payable : On December 7, 2005, the Company established MetBank Capital Trust I, a Delaware statutory trust (“Trust I”). The Company owns all of the common capital securities of Trust I in exchange for contributed capital of $310,000. Trust I issued $10 million of preferred capital securities to investors in a private transaction and invested the proceeds, combined with the proceeds from the sale of Trust I’s common capital securities, in the Company through the purchase of $10 million aggregate principal amount of Floating Rate Junior Subordinated Debentures (the “Debentures”) issued by the Company. The Debentures, the sole assets of Trust I, mature on December 9, 2035 and bear interest then at a floating rate of 3-month LIBOR plus 1.85%. The Debentures are callable. The interest rates were 3.84% and 4.66% as of December 31, 2019 and 2018, respectively. On July 14, 2006, the Company established MetBank Capital Trust II, a Delaware statutory trust (“Trust II”). The Company owns all of the common capital securities of Trust II in exchange for contributed capital of $310,000. Trust II issued $10 million of preferred capital securities to investors in a private transaction and invested the proceeds, combined with the proceeds from the sale of Trust II’s common capital securities, in the Company through the purchase of $10 million aggregate principal amount of Floating Rate Junior Subordinated Debentures (the “Debentures II”) issued by the Company. The Debentures II, the sole assets of Trust II, mature on October 7, 2036, and bear interest at a floating rate of three-month LIBOR plus 2.00%. The Debentures II are callable. The interest rates were 3.99% and 4.81% as of December 31, 2019 and 2018, respectively. The Company is not considered the primary beneficiary of these trusts; therefore, the trusts are not consolidated in the Company’s financial statements. Interest on the subordinated debentures may be deferred by the Company at any time or from time to time for a period not exceeding 20 consecutive quarterly payments (5 years), provided there is no event of default. At the end of the deferral period, the Company must pay accrued interest, at which point it may elect a new deferral period provided that no deferral may extend beyond maturity. The investments in the common capital securities of Trust I and Trust II are included in other assets on the consolidated statements of financial condition. The subordinated debentures may be included in Tier 1 capital (with certain applicable limitations) under current regulatory guidelines and interpretations. The terms of these trust preferred securities may be impacted by the transition from LIBOR to an alternative U.S. dollar reference interest rate, potentially SOFR, in 2022. Management is currently evaluating the impact of the transition on the trust preferred securities payable. Subordinated Debt : On March 8, 2017, the Company issued $25 million of subordinated notes to accredited institutional investors. The notes mature on March 15, 2027 and bear an interest rate of 6.25% per annum. The interest is paid semi-annually on March 15 and September 15 of each year through March 15, 2022 and quarterly thereafter on March 15, June 15, September 15 and December 15 of each year. In accordance with the terms of the subordinate notes, the interest rate from March 15, 2022 to the maturity date shall reset quarterly to an interest rate per annum equal to the current three month LIBOR (not less than zero) plus 426 basis points, payable quarterly in arrears. These terms may be impacted by the transition from LIBOR to an alternative U.S. dollar reference interest rate, potentially SOFR, in 2022. Management is currently evaluating the impact of the transition on the Company’s subordinate notes payable. The Company may redeem the subordinated notes beginning with the interest payment date of March 15, 2022 and on any scheduled interest payment date thereafter. The subordinated notes may be redeemed in whole or in part, at a redemption price equal to 100% of the principal amount of the subordinated notes plus any accrued and unpaid interest.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2019
INCOME TAXES
INCOME TAXES	NOTE 9 — INCOME TAXES Income tax expense consisted of the following for the years ended December 31, 2019 and 2018 (dollars in thousands): Year Ended December 31, (in thousands) 2019 2018 Current Federal $ 9,222 $ 7,990 State and local 6,570 4,762 Total current 15,792 12,752 Deferred Federal (845) (896) State and local (1,020) (635) Total deferred (1,865) (1,531) Total income tax expense $ 13,927 $ 11,221 Deferred tax assets and liabilities consist of the following (dollars in thousands): At December 31, 2019 2018 Deferred tax assets: Allowance for loan losses $ 8,303 $ 5,893 Interest on nonaccrual loans 24 28 Off balance sheet reserves 57 127 Restricted stock 188 167 Tangible asset 17 20 Non-qualified stock options 294 290 Net unrealized loss on securities available for sale — 172 Other 51 — Total gross deferred tax assets 8,934 6,697 Deferred tax liabilities: Depreciation and amortization 781 392 Net unrealized gain on securities available for sale 604 — Pass-through income 69 255 Prepaid assets 341 — Total gross deferred tax liabilities 1,795 647 Net deferred tax asset, included in other assets $ 7,139 $ 6,050 The following is a reconciliation of the Company’s statutory federal income tax rate of 21% to its effective tax rate for the years ended December 31, 2019 and 2018 (dollars in thousands): For the year ended December 31, 2019 2018 Tax expense/ Tax expense/ (benefit) Rate (benefit) Rate Pretax income at statutory rates $ 9,253 21.00 % $ 7,723 21.00 % State and local taxes, net of federal income tax benefit 4,385 9.95 3,260 8.87 Nondeductible expenses 430 0.97 327 0.89 Excess tax deduction on equity awards (132) (0.30) (83) (0.23) Tax-exempt income, net (2) (0.00) (6) (0.02) Other (7) (0.01) — — Effective income tax expense/rate $ 13,927 31.61 % $ 11,221 30.51 % Metropolitan Bank Holding Corp. and the Bank filed consolidated Federal, New York State and New York City tax returns in 2019 and 2018. As of December 31, 2019 and 2018, there are no unrecognized tax benefits, and the Company does not expect this to significantly change in the next twelve months. The Company and its subsidiary are subject to U.S. federal income tax as well as income tax of the State and City of New York. The Company is no longer subject to examination by the U.S. federal and state or local tax authorities for years prior to 2016.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2019
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 10 — RELATED PARTY TRANSACTIONS Deposits from principal officers, directors, and their affiliates at year-end 2019 and 2018 were $566,000 and $1.9 million, respectively. A promissory note of $780,000 was made to an executive officer of the Bank during 2016. The note has a fixed interest rate of 2.125% per annum (determined by reference to the 5-year LIBOR rate in effect on the note date, plus 100 basis points) and interest is payable on the last day of each calendar quarter. The note has a balloon payment term and the due date is August 15, 2021, with no prepayment penalty. The outstanding balance of the subject loan was $780,000 as of December 31, 2019 and 2018.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2019
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 11 — COMMITMENTS AND CONTINGENCIES The Company leases certain branch properties under operating leases. Approximate future minimum rental payments required under all non-cancellable operating leases, before considering renewal options that generally are present, were as follows (dollars in thousands): Year Ending December 31, 2020 $ 4,403 2021 3,811 2022 3,741 2023 3,412 2024 3,370 Thereafter (and through 2035) 26,578 $ 45,315 Total rent expense for the years ended December 31, 2019 and 2018 was $3.8 million and $2.7 million, respectively.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2019
FAIR VALUE OF FINANCIAL INSTRUMENTS
FAIR VALUE OF FINANCIAL INSTRUMENTS	NOTE 12 — FAIR VALUE OF FINANCIAL INSTRUMENTS Fair Value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair value: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. Assets and Liabilities Measured on a Recurring Basis Assets measured on a recurring basis are limited to the Bank’s AFS portfolio and equity investments. The AFS portfolio is carried at estimated fair value with any unrealized gains and losses, net of taxes, reported as accumulated other comprehensive income or loss in shareholders’ equity. Equity investments are carried at estimated fair value with changes in fair value reported as unrealized gain/(loss) on the statement of operations. The fair values for substantially all of these securities are obtained monthly from an independent nationally recognized pricing service. On a quarterly basis, the Bank assesses the reasonableness of the fair values obtained by reference to a second independent nationally recognized pricing service. Based on the nature of these securities, the Bank’s independent pricing service provides prices which are categorized as Level 2 since quoted prices in active markets for identical assets are generally not available for the majority of securities in the Bank’s portfolio. Various modeling techniques are used to determine pricing for the Bank’s mortgage-backed securities, including option pricing and discounted cash flow models. The inputs to these models include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data. On an annual basis, the Bank obtains the models, inputs and assumptions utilized by its pricing service and reviews them for reasonableness. Assets and liabilities measured at fair value on a recurring basis are summarized below (dollars in thousands): Fair Value Measurement using: Quoted Prices in Active Significant Markets Other Significant Carrying For Identical Observable Unobservable Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) At December 31, 2019 Residential mortgage securities $ 177,263 $ — $ 177,263 $ — Commercial mortgage securities 32,472 — 32,472 — U.S. Government agency securities 25,207 — 25,207 — CRA Mutual Fund 2,224 2,224 — — Fair Value Measurement using: Quoted Prices in Active Significant Markets Other Significant Carrying For Identical Observable Unobservable Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) At December 31, 2018 Residential mortgage securities $ 23,513 $ - $ 23,513 $ - Commercial mortgage securities 5,849 - 5,849 - Municipal bond 1,077 - 1,077 - CRA Mutual Fund 2,110 2,110 - - There were no transfers between Level 1 and Level 2 during 2019 or 2018. Loans measured at fair value on a non-recurring basis amounted to $242,000 at December 31, 2019. There were no material assets measured at fair value on a non-recurring basis at December 31, 2018. The Bank has engaged an independent pricing service provider to provide the fair values of its financial assets and liabilities measured at amortized cost. This provider follows FASB’s exit pricing guidelines, as required by ASU 2016-01, when calculating the fair market value. Carrying amount and estimated fair values of financial instruments at December 31, 2019 and 2018 were as follows (dollars in thousands): Fair Value Measurement Using: Quoted Prices in Active Significant Markets Other Significant Carrying For Identical Observable Unobservable Total Fair At December 31, 2019 Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Value Assets: Cash and due from banks $ 10,176 $ 10,176 $ — $ — $ 10,176 Overnight deposits 381,045 381,045 — — 381,045 Securities available for sale 234,942 — 234,942 — 234,942 Securities held to maturity 3,722 — 3,712 — 3,712 Equity investments 2,224 2,224 — — 2,224 Loans, net 2,646,677 — — 2,609,233 2,609,233 Other investments FRB Stock 7,317 N/A N/A N/A N/A FHLB Stock 8,122 N/A N/A N/A N/A SBA Loan Fund 5,000 N/A N/A N/A N/A Disability Fund 500 — 500 — 500 Accrued interest receivable 8,862 — 544 8,318 8,862 Financial liabilities: Non-interest-bearing demand deposits $ 1,090,479 $ 1,090,479 $ — $ — $ 1,090,479 Money market and savings deposits 1,589,920 1,589,920 — — 1,589,920 Time deposits 110,375 — 110,800 — 110,800 Federal Home Loan Bank of New York advances 144,000 — 144,229 — 144,229 Trust preferred securities payable 20,620 — — 20,011 20,011 Subordinated debt, net of issuance cost 24,601 — 25,375 — 25,375 Accrued interest payable 1,229 14 1,009 206 1,229 Fair Value Measurement Using: Quoted Prices in Active Significant Markets Other Significant Carrying For Identical Observable Unobservable Total Fair At December 31, 2018 Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Value Assets: Cash and due from banks $ 9,246 $ 9,246 $ — $ — $ 9,246 Overnight deposits 223,704 223,704 — — 223,704 Securities available for sale 30,439 — 30,439 — 30,439 Securities held to maturity 4,571 — 4,403 — 4,403 Equity investments 2,110 2,110 — — 2,110 Loans, net 1,846,274 — — 1,796,462 1,796,462 Other investments FRB Stock 7,250 N/A N/A N/A N/A FHLB Stock 9,537 N/A N/A N/A N/A SBA Loan Fund 5,000 N/A N/A N/A N/A Certificates of deposit 500 — 500 — 500 Accrued interest receivable 5,507 — 127 5,380 5,507 Financial Liabilities: Non-interest-bearing demand deposits $ 798,563 $ 798,563 $ — $ — $ 798,563 Money market and savings deposits 764,990 764,990 764,990 Time deposits 97,001 — 96,859 — 96,859 Federal Home Loan Bank of New York advances 185,000 — 184,999 — 184,999 Trust preferred securities payable 20,620 — — 19,821 19,821 Subordinated debt, net of issuance cost 24,545 — 25,125 — 25,125 Accrued interest payable 1,282 13 1,044 225 1,282

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2019
STOCKHOLDERS’ EQUITY
STOCKHOLDERS' EQUITY	NOTE 13 — STOCKHOLDERS’ EQUITY The Series F, Class B preferred stock is nonvoting and with a par value of $0.01 per share. The stock is subordinate and junior to all indebtedness of the Company and to all other series of preferred stock of the Company. The holders of the stock are entitled to receive ratable dividends as provided herein only if and when dividends are concurrently declared and payable on the shares of common shares.

STOCK COMPENSATION PLAN

STOCK COMPENSATION PLAN	12 Months Ended
	Dec. 31, 2019
STOCK COMPENSATION PLAN
STOCK COMPENSATION PLAN	NOTE 14 — STOCK COMPENSATION PLAN Equity Incentive Plan On May 28, 2019, the Company's 2019 Equity Incentive Plan (the “2019 EIP”) was approved by stockholders of the Company. Under the 2019 EIP, the maximum number of shares of stock that may be delivered to participants in the form of restricted stock, restricted stock units and stock options, including incentive stock options (“ISO”) and non-qualified stock options, is 340,000, plus any awards that are forfeited under the 2009 Equity Incentive Plan (the “2009 Plan”). Under the 2009 Plan, there are 468,382 shares that are subject to outstanding and/or unexercised awards that have been granted and, if forfeited after May 28, 2019, such shares will be available to be granted under the 2019 EIP. The 2009 Plan expired on May 18, 2019 and, accordingly, the 628,719 shares that were unissued under the 2009 Plan have expired and may not be granted (and such shares of stock did not roll over to the 2019 EIP). At December 31, 2019, there were 341,562 shares issuable under the 2019 EIP. At December 31, 2018, there were 735,142 shares issuable under the 2009 Plan. Stock Options Under the terms of the 2019 EIP, a stock option agreement cannot have an exercise price that is less than 100% of the fair market value of the shares covered by the stock option on the date of grant. In the case of an ISO granted to a 10% stockholder, the exercise price shall not be less than 110% of the fair market value of the shares covered by the stock option on the date of grant. In no event shall the exercise period exceed ten years from the date of grant of the option, except, in the case of an ISO granted to a 10% stockholder, the exercise period shall not exceed five years from the date of grant. The 2019 EIP uses a double trigger change in control feature, providing for an acceleration of vesting upon an involuntary termination of employment simultaneous with or following a change in control. The fair value of each stock option award is estimated on the date of grant using a closed form option valuation (Black-Scholes) model. Expected volatilities based on historical volatilities of the Company’s common stock are not significant. The expected term of options granted is based on historical data and represents the period of time that options granted are expected to be outstanding, which takes into account that the options are not transferable. The risk-free interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of the grant. There was no compensation cost related to non-vested stock options granted as of December 31, 2019 and 2018 as all stock options were vested. A summary of the status of the Company’s stock option plan and the changes during the year is presented below: 2019 Weighted Average Number of Exercise Options Price Outstanding, beginning of year 231,000 $ 18.00 Granted — — Exercised — — Cancelled/forfeited — — Outstanding, end of year 231,000 $ 18.00 Options vested and exercisable at year-end 231,000 $ 18.00 Aggregate intrinsic value of options outstanding at December 31, 2019 $ 6,983,130 Weighted average remaining contractual life (years) 4.38 The following table summarizes information about stock options outstanding at December 31, 2019: Options Outstanding Range of Average Number Outstanding at Weighted Average Weighted Average Weighted average Exercise Prices December 31, 2019 Remaining Contractual Life Exercise Price intrinsic value $10 – 20 231,000 4.38 $ 18.00 $ 30.23 $21 – 30 — — $ — $ — $10 – 30 231,000 4.38 $ 18.00 $ 30.23 There were no stock options exercised during the year ended December 31, 2019. During the year ended December 31, 2018, 30,000 stock options were exercised, which had an intrinsic value of $227,910. Cash received from these exercises was $360,000. Restricted Stock Awards The Company issued restricted stock awards to certain key personnel under the 2009 Equity Incentive Plan (2009 EIP). Each restricted stock award vests based on vesting scheduled outlined in the award agreement. Restricted stock awards are subject to forfeiture if the holder is not employed by the Company on the vesting date. Total compensation cost that has been charged against income for restricted stock awards was $1.2 million and $445,156 for years ended December 31, 2019 and 2018, respectively. As of December 31, 2019, there was $1.9 million of total unrecognized compensation expense related to the restricted stock awards. The cost is expected to be recognized over a weighted-average period of 2.0 years. In addition, on January 1, 2019, 38,900 restricted shares in the aggregate were granted to members of the Board of Directors in lieu of retainer fees for three years of service. These shares vest one-third each year for three years beginning on January 1, 2019. Total expense for these awards was $400,000 for December 31, 2019. As of December 31, 2019, there was $800,000 of unrecognized expense related to Directors’ fees. The cost is expected to be recognized over a weighted-average period of 2.0 years. During 2018, 8,987 shares were issued to Directors in lieu of retainer fees. Total expense for the 2018 Directors’ grants was $440,000. In addition, 10,000 shares in the aggregate were issued to Directors, which vested quarterly in 2019. Total expenses for these grants amounted to $351,500 in 2019. The following table summarizes the changes in the Company’s non-vested restricted stock awards for the years ended December 31, 2019 and 2018 Year Ended December 31, 2019 Year Ended December 31, 2018 Weighted Average Weighted Average Number of Shares Grant Date Fair Value Number of Shares Grant Date Fair Value Outstanding, beginning of period 53,957 $ 21.46 76,104 $ Granted 106,423 35.36 8,987 Forfeited (1,561) 32.71 — — Vested (53,981) 32.22 (31,134) Outstanding at end of period 104,838 $ 29.86 53,957 $ The total fair value of shares vested is $2.4 million and $1.3 for the years ended December 31, 2019 and 2018, respectively. Performance Based Stock Awards During 2018, the Company established a performance-based long term incentive award program under the 2009 Equity Incentive Plan. During 2018, 90,000 PRSUs were awarded under the program. PRSUs are eligible to be earned over a three-year performance period based on the Company’s relative performance on certain measurement goals that were established at the onset of the performance period. These awards were accounted for in accordance with guidance prescribed in ASC Topic 718, Compensation – Stock Compensation. These units will be granted at the end of the three year performance period, provided the performance criteria have been met. The following table summarizes the changes in the Company’s non-vested PRSU awards for year ended December 31, 2019 (dollars in thousands, except share information): For the year ended December 31, 2019 Weighted average service inception date fair value of award shares $ 4,064,295 Minimum aggregate share payout 12,000 Maximum aggregate share payout 90,000 Likely aggregate share payout 90,000 Compensation expense recognized $ 1,430,011 Total compensation cost that has been charged against income for this plan for the years ended December 31, 2019 and December 31, 2018 was $1.4 million and $1.3 million, respectively.

EMPLOYEE BENEFIT PLAN

EMPLOYEE BENEFIT PLAN	12 Months Ended
	Dec. 31, 2019
EMPLOYEE BENEFIT PLAN
EMPLOYEE BENEFIT PLAN	NOTE 15 — EMPLOYEE BENEFIT PLAN The Company has a 401(k) plan for eligible employees. The contribution for any participant may not exceed the maximum amount allowable by law. Each year, the Company may elect to match a percentage of participant contributions. The Company may also elect each year to make additional discretionary contributions to the plan. The total contributions were $499,000 and $405,000 the years ended December 31, 2019 and 2018, respectively.

FINANCIAL INSTRUMENTS WITH OFF-

FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK	12 Months Ended
	Dec. 31, 2019
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK	NOTE 16 — FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK The Bank is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the financial statements. The Bank’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit is represented by the contractual amount of those instruments. The Bank uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. The Bank had outstanding the following off-balance-sheet financial instruments whose contract amounts represent credit risk as of December 31, 2019 and 2018 (dollars in thousands): At December 31, 2019 At December 31, 2018 Variable Variable Fixed Rate Rate Fixed Rate Rate Undrawn lines of credit $ 17,204 $ 193,767 $ 7,737 $ 130,547 Letters of credit 47,743 — 34,351 — $ 64,947 $ 193,767 $ 42,088 $ 130,547 A commitment to extend credit is a legally binding agreement to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally expire within 2 years. At both December 31, 2019 and 2018, the Bank’s fixed rate loan commitments are to make loans with interest rates ranging from 3.0% to 5.6% and maturities of one year or more. The amount of collateral obtained, if any, by the Bank upon extension of credit is based on management’s credit evaluation of the borrower. Collateral held varies but may include mortgages on commercial and residential real estate, security interests in business assets, equipment, deposit accounts with the Bank or other financial institutions and securities. The Bank has letters of credit in the amount of $47.7 million and $34.4 million as of December 31, 2019 and 2018, respectively, for which the Bank has received collateral in the form of accounts of $29.8 million and $23.0 million as of December 31, 2019 and 2018, respectively.

REGULATORY CAPITAL

REGULATORY CAPITAL	12 Months Ended
	Dec. 31, 2019
REGULATORY CAPITAL
REGULATORY CAPITAL	NOTE 17 — REGULATORY CAPITAL The Company and Bank are subject to various regulatory capital requirements administered by the Federal banking agencies. At December 31, 2019 and 2018, the Company and the Bank met all applicable regulatory capital requirements to be considered “well capitalized” under regulatory guidelines. The Company and Bank manage their capital to comply with their internal planning targets and regulatory capital standards administered by federal banking agencies. The Company and Bank review capital levels on a monthly basis. The final rules implementing Basel Committee on Banking Supervision’s capital guidelines for U.S. banks (Basel III rules) became effective for the Bank on January 1, 2015 with full compliance with all of the requirements being fully phased in on January 1, 2019. The capital conservation buffer was 2.50% at December 31, 2019 and 1.88% at December 31, 2018. The capital conservation buffer requirement was being phased in beginning January 1, 2016 at 0.625% of risk-weighted assets and increasing by 0.625% each subsequent January 1, until it reached 2.5% on January 1, 2019. The net unrealized gain or loss on AFS securities is not included in the computation of the regulatory capital. The Company and the Bank meet all capital adequacy requirements, to which they are subject, as of December 31, 2019 and 2018. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. At December 31, 2019 and 2018, the most recent regulatory notifications categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes have changed the institution’s category. The Company’s principal source of funds for dividend payments is dividends received from the Bank. Banking regulations limit the amount of dividends that may be paid without prior approval of regulatory agencies. The following is a summary of actual capital amounts and ratios as of December 31, 2019 and 2018, for the Company and the Bank compared to the requirements for minimum capital adequacy and classification as well capitalized. Actual and required capital amounts and ratios are presented below at year end (dollars in thousands): To be Well Capitalized For Capital Adequacy under Prompt Corrective Actual Purposes Action Regulations Amount Ratio Amount Ratio Amount Ratio At December 31, 2019 Total capital (to risk-weighted assets) Metropolitan Bank Holding Corp. $ 350,403 12.5 % $ 223,973 ≥ 8.0 % $ N/A ≥ N/A % Metropolitan Commercial Bank $ 356,353 12.7 % $ 223,858 ≥ 8.0 % $ 279,823 ≥ % Tier 1 common equity (to risk-weighted assets) Metropolitan Bank Holding Corp. $ 282,646 10.1 % $ 125,985 ≥ 4.5 % $ N/A ≥ N/A % Metropolitan Commercial Bank $ 329,905 11.8 % $ 125,920 ≥ 4.5 % $ 181,885 ≥ % Tier 1 capital (to risk-weighted assets) Metropolitan Bank Holding Corp. $ 308,769 11.0 % $ 167,980 ≥ 6.0 % $ N/A ≥ N/A % Metropolitan Commercial Bank $ 329,905 11.8 % $ 167,894 ≥ 6.0 % $ 223,858 ≥ % Tier 1 capital (to average assets) Metropolitan Bank Holding Corp. $ 308,769 9.4 % $ 131,087 ≥ 4.0 % $ N/A ≥ N/A % Metropolitan Commercial Bank $ 329,905 10.1 % $ 131,000 ≥ 4.0 % $ 163,750 ≥ % At December 31, 2018 Total capital (to risk-weighted assets) Metropolitan Bank Holding Corp. $ 319,053 16.9 % $ 151,053 ≥ 8.0 % N/A N/A % Metropolitan Commercial Bank $ 314,226 16.7 % $ 150,900 ≥ 8.0 % $ 188,625 ≥ 10.0 % Tier 1 common equity (to risk-weighted assets) Metropolitan Bank Holding Corp. $ 249,655 13.2 % $ 84,968 ≥ 4.5 % N/A N/A % Metropolitan Commercial Bank $ 294,880 15.6 % $ 84,881 ≥ 4.5 % $ 122,606 ≥ 6.5 % Tier 1 capital (to risk-weighted assets) Metropolitan Bank Holding Corp. $ 275,158 14.6 % $ 113,290 ≥ 6.0 % N/A N/A % Metropolitan Commercial Bank $ 294,880 15.6 % $ 113,175 ≥ 6.0 % $ 150,900 ≥ 8.0 % Tier 1 capital (to average assets) Metropolitan Bank Holding Corp. $ 275,158 13.7 % $ 80,244 ≥ 4.0 % N/A N/A % Metropolitan Commercial Bank $ 294,880 14.7 % $ 80,050 ≥ 4.0 % $ 100,063 ≥ 5.0 % As a result of the recently enacted Economic Growth Act (the “Act”), banking regulatory agencies adopted a revised definition of “well capitalized” for financial institutions and holding companies with assets of less than $10 billion and that are not determined to be ineligible by their primary federal regulator due to their risk profile (a “Qualifying Community Bank”). The new definition expanded the ways that a Qualifying Community Bank may meet its capital requirements and be deemed “well capitalized.” The new rule establishes a community bank leverage ratio (“CBLR”) equal to the tangible equity capital divided by the average total consolidated assets. Regulators have established the CBLR to be set at 9%, effective January 1, 2020. A Qualifying Community Bank that maintains a leverage ratio greater than 9% is considered to be well capitalized and to have met generally applicable leverage capital requirements, generally applicable risk-based capital requirements, and any other capital or leverage requirements to which such financial institution or holding company is subject. The Bank intends to continue to measure capital adequacy using the ratios in the table above.

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	12 Months Ended
	Dec. 31, 2019
EARNINGS PER COMMON SHARE
EARNINGS PER COMMON SHARE	NOTE 18 — EARNINGS PER COMMON SHARE The Company uses the two-class method in the calculation of basic and diluted earnings per share. Under the two-class method, earnings available to common shareholders for the period are allocated between common shareholders and participating securities according to dividends declared (or accumulated) and participation rights in undistributed earnings. The factors used in the earnings per share calculation are as follows (in thousands, except per share data). Year Ended December 31, 2019 2018 Basic Net income per consolidated statements of income $ 30,134 $ 25,554 Less: Earnings allocated to participating securities (448) (168) Net income available to common stockholders $ 29,686 $ 25,386 Weighted average common shares outstanding including participating securities 8,297,478 8,200,705 Less: Weighted average participating securities (123,336) (67,152) Weighted average common shares outstanding 8,174,142 8,133,553 Basic earnings per common share 3.63 3.12 Diluted Net income allocated to common stockholders $ 29,686 $ 25,386 Weighted average common shares outstanding for basic earnings per common share 8,174,142 8,133,553 Add: Dilutive effects of assumed exercise of stock options 125,085 137,089 Add: Dilutive effects of assumed vesting of performance based restricted stock 39,914 17,882 Average shares and dilutive potential common shares 8,339,141 8,288,524 Dilutive earnings per common share $ 3.56 $ 3.06 There were no stock options that were not considered in computing diluted earnings per common share for 2019 and 2018 because their exercise price was lower than the market price.

PARENT COMPANY FINANCIAL INFORM

PARENT COMPANY FINANCIAL INFORMATION	12 Months Ended
	Dec. 31, 2019
PARENT COMPANY FINANCIAL INFORMATION
PARENT COMPANY FINANCIAL INFORMATION	NOTE 19 — PARENT COMPANY FINANCIAL INFORMATION Condensed financial information for the Company (parent company only) is as follows (dollars in thousands): Condensed Statements of Financial Condition At December 31, 2019 2018 Assets Cash and due from banks $ 1,836 $ 3,547 Loans, net of allowance for loan losses 776 776 Investments 620 620 Investment in subsidiary bank, at equity 340,733 304,141 Other assets 1,106 1,380 Total assets $ 345,071 $ 310,464 Liabilities and Stockholders’ Equity Trust preferred securities payable 20,620 20,620 Subordinated debt payable, net of issuance costs 24,601 24,545 Other liabilities 726 782 Total liabilities 45,947 45,947 Stockholders’ equity: Preferred stock 3 3 Common stock 82 82 Surplus 216,468 213,490 Retained earnings 81,364 51,415 Accumulated other comprehensive loss, net of tax 1,207 (473) Total equity 299,124 264,517 Total liabilities and stockholders’ equity $ 345,071 $ 310,464 Condensed Statements of Operation Year Ended December 31, 2019 2018 Income: Loans $ 17 $ 17 Securities and money market funds 27 — Total interest income 44 17 Interest expense: Trust preferred securities payable 908 846 Subordinated debt interest expense 1,618 1,619 Total interest expense 2,526 2,465 Net interest expense (2,482) (2,448) Provision for loan losses — — Net interest income after provision for loan losses (2,482) (2,448) Other expense 3,865 1,275 Loss before undistributed earnings of subsidiary bank (6,347) (3,723) Equity in undistributed earnings of subsidiary bank 35,209 28,094 Income before income tax expense 28,862 24,371 Income tax benefit 1,272 1,183 Net income $ 30,134 $ 25,554 Comprehensive income $ 31,746 $ 25,287 Condensed Statement of Cash Flows Year Ended December 31, 2019 2018 Cash Flows From Operating Activities: Net income $ 30,134 $ 25,554 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Undistributed earnings of subsidiary bank (35,209) (28,094) Non-employee stock based compensation 400 440 Amortization of trust preferred issuance costs 56 56 Stock based compensation expense 2,667 1,711 Decrease (increase) in other assets 274 (2,910) Increase (decrease) in other liabilities 56 (167) Net cash used in operating activities (1,622) (3,410) Cash Flows From Investing Activities: Investments in subsidiary bank — — Net cash used in Investing activities — — Cash Flows From Financing Activities: Proceeds from issuance of common stock, net — (33) Redemption of common stock for tax withholdings for restricted stock vesting (89) (131) Proceeds from exercise of stock options — 360 Net cash provided by financing activities (89) 196 Net (decrease) increase in cash and cash equivalents (1,711) (3,214) Cash and cash equivalents, beginning of year 3,547 6,761 Cash and cash equivalents, end of year $ 1,836 $ 3,547

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Dec. 31, 2019
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	NOTE 20 — ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table summarizes the changes in Accumulated Other Comprehensive Income (Loss) balances, net of tax effects at the dates indicated (dollars in thousands): Year Ended December 31, 2019 2018 Beginning balance $ (473) $ (206) Cumulative effect of adopting new accounting standard ASU 2016-01, net of taxes 68 — Beginning balance, as adjusted (405) (206) Total unrealized gains/loss on securities available for sale, net of taxes 1,612 (293) Amount reclassified from accumulated other comprehensive income, net of tax — 26 Net current period other comprehensive loss 1,612 (267) Ending balance $ 1,207 $ (473) The proceeds from calls of securities and associated losses during the years ended December 31, 2019 and December 31, 2018 were $1.1 million and $1.5 million, respectively. There was no gain or loss associated with the call of securities in 2019. The following table shows the amounts reclassified out of each component of accumulated other comprehensive loss for the loss on the call of securities during the year ended December 31, 2019. Year Ended December 31, 2019 2018 Affected line item in the Consolidated Statements of Operations Realized loss on call of available-for-sale securities $ — $ (37) Losses on call of securities Income tax benefit — 11 Income tax expense Total reclassifications, net of income tax $ — $ (26)

UNAUDITED QUARTERLY FINANCIAL D

UNAUDITED QUARTERLY FINANCIAL DATA	12 Months Ended
	Dec. 31, 2019
UNAUDITED QUARTERLY FINANCIAL DATA
UNAUDITED QUARTERLY FINANCIAL DATA	NOTE 21 — UNAUDITED QUARTERLY FINANCIAL DATA Selected Consolidated Quarterly Financial Data (dollars, except per share amounts, in thousands) 2019 Quarter Ended December 31 September 30 June 30 March 31 Interest income $ 36,466 $ 35,496 $ 30,828 $ 26,990 Interest expense 8,424 9,443 7,891 6,412 Net interest income 28,042 26,053 22,937 20,578 Provision for loan losses 2,300 2,004 1,950 (2,031) Net interest income after provision for loan losses 25,742 24,049 20,987 22,609 Non-interest income 2,862 2,700 2,674 2,393 Non-interest expense 17,042 15,495 14,724 12,694 Income before income taxes 11,562 11,254 8,937 12,308 Income tax expense 3,699 3,571 2,880 3,777 Net income $ 7,863 $ 7,683 $ 6,057 $ 8,531 Basic earnings per common share $ 0.95 $ 0.92 $ 0.73 $ 1.03 Diluted earnings per common share $ 0.93 $ 0.90 $ 0.71 $ 1.01 2018 Quarter Ended December 31 September 30 June 30 March 31 Interest income $ 23,342 $ 21,907 $ 19,998 $ 18,693 Interest expense 4,381 3,556 2,603 2,177 Net interest income 18,961 18,351 17,395 16,516 Provision for loan losses 844 (453) 1,270 1,477 Net interest income after provision for loan losses 18,117 18,804 16,125 15,039 Non-interest income 2,188 2,012 2,649 5,312 Non-interest expense 11,602 10,355 10,275 11,238 Income before income taxes 8,703 10,461 8,499 9,113 Income tax expense 2,418 3,348 2,634 2,822 Net income $ 6,285 $ 7,113 $ 5,865 $ 6,291 Basic earnings per common share $ 0.77 $ 0.87 $ 0.72 $ 0.77 Diluted earnings per common share $ 0.75 $ 0.85 $ 0.70 $ 0.75

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	12 Months Ended
	Dec. 31, 2019
REVENUE FROM CONTRACTS WITH CUSTOMERS
REVENUE FROM CONTRACTS WITH CUSTOMERS	NOTE 22 – REVENUE FROM CONTRACTS WITH CUSTOMERS The Company adopted ASU 2014-09, Revenue from Contracts with Customers, as of January 1, 2019. All of the Company’s revenue from contracts with customers that are in the scope of the accounting guidance are recognized in non-interest income. The following table presents the Company’s sources of non-interest income, within the scope of the ASU, for the years ended December 31, 2019 and 2018 (dollars in thousands): Year Ended December 31, 2019 2018 (1) Service charges on deposit accounts $ 3,556 $ 4,248 Prepaid third-party debit card income 5,643 4,640 Other service charges and fees 1,366 3,305 Total $ 10,565 $ 12,193 (1) The Company elected the modified retrospective approach of adoption; therefore, prior period balances are presented under legacy GAAP and may not be comparable to current year presentation. A description of the Company’s revenue streams accounted for under the accounting guidance follows: Debit card income: The Bank serves as a debit card issuer to and contracts with various program managers to issue debit cards to support various products including, but not limited to, healthcare marketing, general purpose reloadable cards, payroll cards, disbursement of government payments, payment of federal benefits and E-Wallet and push payments for sellers in online marketplaces. The Bank earns initial set-up fees for these programs as well as fees for transactions processed. The Bank receives transaction data at the end of each month for debit card services rendered, at which time revenue is recognized. Prior to the adoption of the ASU, at December 31, 2018, upfront fees were recognized under the percentage of completion method. Since the performance obligation of setting up the program to go live is satisfied at a point in time, the revenue is deemed to be recognized once the performance obligation has been completed and the program is live, thereby creating an asset available for the customer to use. The ASU provides the option to elect the modified retrospective method as a transition approach and the Bank has elected to use this method to comply with the new guidance under the ASU. Accordingly, the Company recorded an adjustment to opening retained earnings of $117,000 to reflect the change in accounting under the ASU. Service charges on deposit accounts: The Bank offers business and personal retail products and services, which include, but are not limited to: online banking, mobile banking, ACH, and remote deposit capture. A standard deposit contract exists between the Bank and all deposit customers. The Bank earns fees from its deposit customers for transaction-based services (such as ATM use fees, stop payment charges, statement rendering, and ACH fees), account maintenance, and overdraft services. Transaction-based fees are recognized at the time the transaction is executed as that is the point in time the Bank fulfills the customer’s request. Account maintenance fees, which relate primarily to monthly maintenance, are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are withdrawn from the customer’s account balance. Other service charges: The primary component of other service charges relates to foreign exchange (“FX”) conversion fees. The Bank outsources FX conversion for foreign currency transactions to correspondent banks. The Bank earns a portion of FX conversion fee that the customer charges to process an FX transaction. Revenue is recognized at the end of the month, once the customer has remitted the transaction information to the Bank.

SUMMARY OF RECENT ACCOUNTING _2

SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS (Policies)	12 Months Ended
	Dec. 31, 2019
SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS
Use of Estimates	Use of Estimates : To prepare financial statements in conformity with GAAP, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ from those estimates.
Cash Flows	Cash Flows : Cash and cash equivalents are defined as cash on hand and amounts due from banks and money market funds. Net cash flows are reported for customer loan and deposit transactions, and other investments.
Securities	Securities : Debt securities are classified as held-to-maturity and carried at amortized cost when management has the positive intent and ability to hold them to maturity. Debt securities are classified as available-for-sale (“AFS”) when they might be sold before maturity. Securities available for sale are carried at fair value, with unrealized holding gains and losses reported in other comprehensive income, net of tax. Equity securities with readily determinable fair value are carried at fair value, with change in fair value reported in net income. On January 1, 2019, the Company adopted a new accounting standard for Financial Instruments (ASU 2016-01), which required equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. Upon adoption, equity securities previously classified as available-for-sale are presented separately on the balance sheet as equity securities. The amount of unrealized gain (loss), net of tax, related to these securities was reclassified from accumulated other comprehensive income to retained earnings as of January 1, 2019. Upon adoption, the amendments related equity securities without readily determinable fair values (including disclosure requirements) are being applied prospectively to equity investments that existed at January 1, 2019. Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Gains and losses on sales of securities are recognized in the consolidated statements of operations upon sale. Management evaluates AFS securities for other-than-temporary impairment (“OTTI”) on at least a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the statement of operations and 2) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis.
Accounts Receivable & Receivable from Prepaid Card Programs, Net	Accounts Receivable & Receivable from Prepaid Card Programs, Net : Accounts receivables, net, primarily consist of the Bank’s in-transit items, trade receivables from prepaid debit card programs and other receivables. Receivables from prepaid card programs are predominantly government scheduled payments including financial assistance programs and pensions.
Revenue Recognition	Revenue Recognition : Most of the Company’s revenue is derived from interest income on loans. Any revenues from contracts with customers, which are not exempt from the accounting requirements under Accounting Standards Update (ASU) 2014‑09, Revenue from Contracts with Customers, are accounted for using the five-step method prescribed by the ASU. These revenue items are debit card income, service charges on deposit accounts and other service charges . In accordance with the ASU, revenue is recognized when a customer obtains control of promised services. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled to receive in exchange for these services. The Company applies the following five steps to properly recognize revenue: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when (or as) the entity satisfies a performance obligation.
Technology Costs	Technology Costs: Technology costs are primarily comprised of licensing fees on certain deposit accounts held by bankruptcy trustees. These accounts require the use of a software interface provided by a third party. Licensing fees amounted to $8.5 million and $1.0 million for 2019 and 2018, respectively. Bankruptcy accounts subject to the licensing fees amounted to $865.8 million and $80.8 million at December 31, 2019 and 2018, respectively.
Transfers of Financial Assets	Transfers of Financial Assets : Transfers of financial assets are accounted for as sales, when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. Transfers of financial assets that do not meet the criteria to be accounted for as sales are recorded as secured borrowings.
Loans and Allowance for Loan Losses	Loans and Allowance for Loan Losses : Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at their outstanding principal balances, adjusted for any charge-offs, the allowance for loan losses, and any deferred fees or costs on originated loans. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the level-yield method without anticipating prepayments. The allowance for loan losses is maintained at an amount management deems adequate to cover probable incurred credit losses. In determining the level to be maintained, management evaluates many factors, including current economic trends, industry experience, historical loss experience, loan concentrations, the borrower’s ability to repay and repayment performance and estimated collateral values. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged off. The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. A loan is considered to be impaired when it is probable that the Bank will be unable to collect all principal and interest amounts according to the contractual terms of the loan agreement. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported, net, at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected solely from the collateral. All commercial and commercial real estate loans are individually evaluated for credit risk at least annually, and all classified loans are individually evaluated for impairment quarterly. Large groups of smaller balance homogenous loans such as residential real estate loans are collectively evaluated for impairment, and accordingly, are not separately evaluated for impairment disclosures unless the individual loan is classified. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. When a loan is modified and concessions have been made to the original contractual terms, such as reductions in interest rate or deferral of interest or principal payments, due to the borrower’s financial condition, the modification is known as a troubled debt restructuring (“TDR”). TDRs are separately identified for impairment disclosures and are measured at the present value of estimated future cash flows using the loan’s effective rate at inception. If a TDR is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral. For TDRs that subsequently default, the Bank determines the amount of reserve in accordance with the accounting policy for the allowance for loan losses. The general component of the allowance covers non-impaired loans and is based on historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Bank over a rolling two-year period. This actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. These economic factors include consideration of the following: levels of and trends in delinquencies and impaired loans; levels of and trends in charge-offs and recoveries; trends in volume and terms of loans; effects on any changes in risk selection and underwriting standards; other changes in lending policies, procedures, and practices; experience, ability, and depth of lending management and other relevant staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentrations. The following portfolio segments have been identified: Construction loans, Commercial Real Estate loans, Multi-Family loans, One-to-Four Family loans, Commercial & Industrial loans and Consumer loans. The risk characteristics of each of the identified portfolio segments are as follows: Construction —  Construction financing is generally considered to involve a higher degree of risk of loss than long-term financing on improved, occupied real estate. Risk of loss on a construction loan depends largely upon the accuracy of the initial estimate of the property’s value at completion of construction and the estimated cost of construction. During the construction phase, a number of factors could result in delays and cost overruns. If the estimate of construction costs proves to be inaccurate, additional funds may be required to be advanced in excess of the amount originally committed to permit completion of the building. If the estimate of value proves to be inaccurate, the value of the building may be insufficient to assure full repayment if liquidation is required. If foreclosure is required on a building before or at completion due to a default, there can be no assurance that all of the unpaid balance of, and accrued interest on, the loan as well as related foreclosure and holding costs will be recovered. Commercial Real Estate —  Commercial real estate loans are secured by nonresidential real estate and generally have larger balances and involve a greater degree of risk than residential real estate loans. Repayment of commercial real estate loans depends on the total cash flow analysis of the borrower and the net operating income of the property, the borrower’s expertise, credit history and profitability, and the value of the underlying property. Of primary concern in commercial real estate lending is the borrower’s creditworthiness and the cash flows from the property. Payments on loans secured by income properties often depend on successful operation and management of the properties. As a result, repayment of such loans may be subject, to a greater extent than residential real estate loans, to adverse conditions in the real estate market or the economy. Commercial real estate is also subject to adverse market conditions that cause a decrease in market value or lease rates, obsolescence in location or function and market conditions associated with oversupply of units in a specific region. Multi-family —  Multi-family real estate loans are secured by multi-family real estate and generally have larger balances and involve a greater degree of risk than residential real estate loans. Repayment of multi-family real estate loans depends on the cash flow analysis of the property, occupancy rates, and unemployment rates, combined with the net operating income of the property, the borrower’s expertise, credit history and profitability, and the value of the underlying property. Payments on these loans depend on successful operation and management of the properties, and repayment of such loans may be subject to adverse conditions in the real estate market or the economy. One-to-Four Family —  One-to-four family loans are generally made on the basis of the borrower’s ability to make repayment from his or her employment income or other income, and which are secured by real property whose value tends to be more easily ascertainable. Repayment of one-to-four family loans is subject to adverse employment conditions in the local economy leading to increased default rates and decreased market values from oversupply in a geographic area. In general, these loans depend on the borrower’s continuing financial stability and, therefore, are likely to be adversely affected by various factors, including job loss, divorce, illness, or personal bankruptcy. Furthermore, the application of various federal and state laws, including federal and state bankruptcy and insolvency laws, may limit the amount that can be recovered on such loans. Commercial & Industrial —  Commercial & Industrial loans are generally of higher risk and typically are made on the basis of the borrower’s ability to make repayment from the cash flows of the borrower’s business. As a result, the availability of funds for the repayment of commercial loans may depend substantially on the success of the business itself. Furthermore, any collateral securing such loans may depreciate over time, may be difficult to appraise, and may fluctuate in value. Consumer —  The Bank purchases loans made to licensed medical professionals on an unsecured basis. Consumer loans are comprised of these loans and student loans. As a result, repayment of such loans are subject, to a greater extent than loans secured by collateral, to the financial condition of the borrower. While management uses available information to recognize losses on loans, future additions to the allowance may be necessary, based on changes in economic conditions or any other factors used in management’s determination. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Bank’s allowance for loan losses. Such agencies may require the Bank to recognize additions to the allowance based on their judgments about information available to them at the time of their examination. Interest income on loans is accrued and credited to operations based upon the principal amounts outstanding. Loans are placed on non-accrual when a loan is specifically determined to be impaired or when principal or interest is delinquent for 90 days or more. Delinquent status is based on the contractual terms of the loan. Any unpaid interest previously accrued on those loans is reversed from income. Interest payments received on such loans are applied as a reduction of the loan principal balance when the collectability of principal, wholly or partially, is in doubt. Interest payments received may be deferred on nonaccrual loans in which the principal balance is deemed to be collectible. Interest income is recognized when all the principal and interest amounts contractually due are brought current and the loans are returned to accrual status.
Goodwill	Goodwill : Goodwill and certain other intangibles generally arise from business combinations accounted for under the purchase method of accounting. Goodwill and other intangibles deemed to have indefinite lives generated from business combinations are not subject to amortization and are instead tested for impairment not less than annually or more frequently if events and circumstances exist that indicate that a goodwill impairment test should be performed. The Company has selected December 31 as the date to perform the annual impairment test. The goodwill of $9.7 million is associated with a purchase of the prepaid third-party debit card business. The Company performed an impairment assessment and determined that no impairment of goodwill existed as of December 31, 2019 or 2018.
Stock-Based Compensation	Stock-Based Compensation : Compensation cost is recognized for stock options, restricted stock awards and restricted stock units, based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of options. The market price of the Company’s common stock at the date of grant is used for restricted stock awards and restricted stock units. Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. The Company also awards performance-based restricted stock units (“PRSUs”) to employees. The PRSUs are classified as either equity or liability, depending on certain criteria provided in ASC 718, Stock Based Compensation. This classification affects whether the measurement of fair value is fixed (i.e., measured only once) on the grant date or whether fair value will be remeasured each reporting period until settled. On the grant date, the estimate of equity-classified awards’ fair value would be fixed, the cumulative amount of previously recognized compensation cost would be adjusted, and the Company would no longer have to remeasure the award. If the award is liability-classified, the awards would continue to be marked to fair value each reporting period until settlement. The Company recognizes compensation cost for awards with performance conditions if and when it concludes that it is probable that the performance conditions will be achieved. The Company assesses the probability of vesting (i.e. that the performance conditions will be met) at each reporting period and, if required, adjusts compensation cost based on its probability assessment.
Concentrations of Credit Risk	Concentrations of Credit Risk : Financial instruments, which potentially subject the Bank to concentration of credit risk, consist primarily of temporary cash investments including due from banks, interest-bearing deposits with banks and real estate loans receivable. A significant portion of real estate loans are collateralized by property in the New York Metropolitan area. The ultimate collectability of these loans may be susceptible to changes in the real estate market in this area.
Premises and Equipment	Premises and Equipment : Premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is computed over the estimated useful lives of the assets by the straight-line method with useful lives ranging from three to ten years. Leasehold improvements are amortized over the shorter of the terms of the respective leases or the estimated lives of the improvements.
Other Investments	Other Investments : Other investments includes Federal Reserve Bank (“FRB”) stock, Federal Home Loan Bank (“FHLB”) stock and investments in the Solomon Hess SBA Loan Fund (“SBA Loan Fund”). Other investments also include a $500,000 investment in The Disability Opportunity Fund, which is an equity equivalent investment to a community development financial institution. The investment was made by the Bank in 2018.The Bank is a member of the FRB and the FHLB systems. Members are required to own a certain amount of stock based on the level of borrowings and other factors. FRB and FHLB stock are carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. The investment in the SBA Fund is recorded at cost and periodically evaluated for impairment. The Company held FRB and FHLB stock of  $7.3 million and $8.1 million, respectively, and an SBA Loan Fund investment of  $5.0 million as of December 31, 2019. As of December 31, 2018, the Company held FRB and FHLB stock of $7.3 million and $9.5 million, respectively, and an SBA loan Fund investment of $5.0 million.
Comprehensive Income	Comprehensive Income : Comprehensive income consists of net income and other comprehensive income (loss). Other comprehensive income (loss) includes unrealized gains and losses on securities available for sale which are also recognized as separate components of equity.
Restrictions on Cash	Restrictions on Cash : Cash on hand or on deposit with the FRB was required to meet regulatory reserve and clearing requirements. Also included in cash was $10.6 million and $9.4 million of cash held in escrow and collateral accounts for third-party debit card program managers as of December 31, 2019 and 2018, respectively.
Earnings per Common Share	Earnings per Common Share : Basic earnings per common share is computed by dividing net income available to common stockholders by the weighted average number of shares outstanding during the applicable period, excluding outstanding participating securities. Diluted earnings per common share is computed using the weighted average number shares determined for the basic computation plus the dilutive effect of potential common shares issuable under certain stock compensation plans. Unvested share-based awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and are included in the computation of earnings per share pursuant to the two-class method. The Company has determined that its outstanding non-vested stock awards are participating securities and that its outstanding non-vested restricted stock units and PRSUs are non-participating securities.
Income Taxes	Income Taxes : Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities as measured by the enacted tax rates which will be in effect when these differences reverse. The primary temporary difference relates to the allowance for loan losses. A valuation allowance is recorded, as necessary, to reduce deferred tax assets to an estimated amount expected to be realized. A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company recognizes interest and/or penalties related to income tax matters in income tax expense.
Loan Commitments and Related Financial Instruments	Loan Commitments and Related Financial Instruments : Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded.
Fair Value of Financial Instruments	Fair Value of Financial Instruments : Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in a separate note. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates.
Loss Contingencies	Loss Contingencies : Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe there now are such matters that will have a material effect on the financial statements.
Reclassifications	Reclassifications : Some items in the prior year financial statements may have been reclassified to conform to the current presentation. Reclassification had no effect on prior year net income or stockholders’ equity.
Operating segments	Operating segments : While department heads monitor the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Company-wide basis. Operating segments are aggregated into one as operating results for all segments are similar. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment.
Recently Issued Accounting Standards	Recently Issued Accounting Standards : Pursuant to the Jumpstart Our Business Startups Act (“JOBS Act”), an Emerging Growth Company (“EGC”) is permitted to elect to adopt new accounting guidance using adoption dates of nonpublic entities. The Company elected delayed effective dates of recently issued accounting standards.

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2019
INVESTMENT SECURITIES
Schedule of amortized cost and fair value of securities available-for-sale and securities held-to-maturity	The following table summarizes the amortized cost and fair value of securities available for sale and securities held to maturity at December 31, 2019 and 2018 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) and gross unrecognized gains and losses (dollars in thousands): Gross Gross Unrealized/ Unrealized/ Amortized Unrecognized Unrecognized At December 31, 2019 Cost Gains Losses Fair Value Debt securities available for sale Residential mortgage securities $ 175,902 $ 1,478 $ (117) $ 177,263 Commercial mortgage securities 32,284 206 (18) 32,472 U.S. Government agency securities 25,000 207 — 25,207 Total securities available for sale $ 233,186 $ 1,891 $ (135) $ 234,942 Held-to-Maturity Securities: Residential mortgage securities 3,722 9 (19) 3,712 Total securities held to maturity $ 3,722 $ 9 $ (19) $ 3,712 Equity investments: CRA Mutual Fund 2,258 — (34) 2,224 Total equity investment securities $ 2,258 $ — $ (34) $ 2,224 Gross Gross Unrealized/ Unrealized/ Amortized Unrecognized Unrecognized At December 31, 2018 Cost Gains Losses Fair Value Debt securities available for sale Residential mortgage securities $ 24,093 $ 3 $ (583) $ 23,513 Commercial mortgage securities 5,874 — (25) 5,849 Municipal bond 1,074 3 — 1,077 Total securities available for sale $ 31,041 $ 6 $ (608) $ 30,439 Held-to-Maturity Securities: Residential mortgage securities 4,546 — (168) 4,378 Foreign government securities 25 — — 25 Total securities held to maturity $ 4,571 $ — $ (168) $ 4,403 Equity investments: CRA Mutual Fund $ 2,208 — (98) 2,110 Total equity investment securities $ 2,208 $ — $ (98) $ 2,110
Schedule of amortized cost and fair value of debt securities classified by contractual maturity	Equity securities, primarily investment in mutual funds, have been excluded from the table. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately (dollars in thousands): Held-to-Maturity Available-for-Sale At December 31, 2019 Amortized Cost Fair Value Amortized Cost Fair Value Within one year $ — $ — $ — $ — One to five years — — — — Five to ten years — — 25,000 25,207 Due after ten years — — — — Total $ — $ — $ 25,000 $ 25,207 Residential mortgage securities $ 3,722 $ 3,712 $ 175,902 $ 177,263 Commercial mortgage securities — — 32,284 $ 32,472 Total Securities $ 3,722 $ 3,712 $ 233,186 $ 234,942 Held-to-Maturity Available-for-Sale At December 31, 2018 Amortized Cost Fair Value Amortized Cost Fair Value Within one year $ 25 $ 25 $ 257 $ 258 One to five years — — — — Five to ten years — — — — Due after ten years — — 817 819 Total $ 25 $ 25 $ 1,074 $ 1,077 Residential mortgage securities $ 4,546 $ 4,378 $ 24,093 $ 23,513 Commercial mortgage securities — — 5,874 $ 5,849 Total Securities $ 4,571 $ 4,403 $ 31,041 $ 30,439
Schedule of securities with unrealized/unrecognized losses	Securities with unrealized losses for the years ended December 31, 2019 and 2018, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows (dollars in thousands): Less than 12 Months 12 months or more Total Unrealized/ Unrealized/ Unrealized/ Estimated Unrecognized Estimated Unrecognized Estimated Unrecognized At December 31, 2019 Fair Value Losses Fair Value Losses Fair Value Losses Debt securities available for sale Residential mortgage securities $ 22,850 $ (52) $ 6,728 $ (65) $ 29,578 $ (117) Commercial mortgage securities 9,911 (18) — — 9,911 (18) Total securities available for sale $ 32,761 $ (70) $ 6,728 $ (65) $ 39,489 $ (135) Held-to-Maturity Securities: Residential mortgage securities $ — $ — $ 1,470 $ (19) $ 1,470 $ (19) Total securities held to maturity $ — $ — $ 1,470 $ (19) $ 1,470 $ (19) Equity investments: CRA Mutual Fund $ — $ — $ 2,224 $ (34) $ 2,224 $ (34) Total equity investment securities $ — $ — $ 2,224 $ (34) $ 2,224 $ (34) Less than 12 Months 12 months or more Total Unrealized/ Unrealized/ Unrealized/ Estimated Unrecognized Estimated Unrecognized Estimated Unrecognized At December 31, 2018 Fair Value Losses Fair Value Losses Fair Value Losses Debt securities available for sale Residential mortgage securities $ 10,374 $ (73) $ 9,890 $ (510) $ 20,264 $ (583) Commercial mortgage securities — — 5,849 (25) 5,849 (25) Total securities available for sale $ 10,374 $ (73) $ 15,739 $ (535) $ 26,113 $ (608) Held-to-Maturity Securities: Residential mortgage securities $ — $ — $ 4,378 $ (168) $ 4,378 $ (168) Total securities held to maturity $ — $ — $ 4,378 $ (168) $ 4,378 $ (168) Equity investments: CRA Mutual Fund $ — $ — $ 2,110 $ (98) $ 2,110 $ (98) Total equity investment securities $ — $ — $ 2,110 $ (98) $ 2,110 $ (98)

LOANS (Tables)

LOANS (Tables)	12 Months Ended
	Dec. 31, 2019
LOANS
Schedule of Net loans	Net loans consist of the following as of December 31, 2019 and 2018 (dollars in thousands): December 31, 2019 December 31, 2018 Real estate Commercial $ 1,668,236 $ 949,778 Construction 30,827 42,540 Multi-family 375,611 307,126 One-to-four family 82,670 79,423 Total real estate loans 2,157,344 1,378,867 Commercial and industrial 448,619 381,692 Consumer 71,956 106,790 Total loans 2,677,919 1,867,349 Deferred fees (4,970) (2,133) Loans, net of deferred fees and unamortized costs 2,672,949 1,865,216 Allowance for loan losses (26,272) (18,942) Balance at the end of the period $ 2,646,677 $ 1,846,274
Schedule of changes in the allowance for loan losses by portfolio segment	The following tables represent the changes in the allowance for loan losses for the years ended December 31, 2019 and 2018, by portfolio segment. The portfolio segments represent the categories that the Bank uses to determine its allowance for loan losses (dollars in thousands): Commercial Commercial One-to-four Year ended December 31, 2019 Real Estate & Industrial Construction Multi-family Family Consumer Total Allowance for loan losses: Beginning balance $ 9,037 $ 6,257 $ 625 $ 2,047 $ 228 $ 748 $ 18,942 Provision (credit) for loan losses 6,280 (2,678) (214) 406 39 390 4,223 Loans charged-off — (798) — — — (389) (1,187) Recoveries — 4,289 — — — 5 4,294 Total ending allowance balance $ 15,317 $ 7,070 $ 411 $ 2,453 $ 267 $ 754 $ 26,272 Commercial Commercial One-to-four Year ended December 31, 2018 Real Estate & Industrial Construction Multi-family Family Consumer Total Allowance for loan losses: Beginning balance $ 7,136 $ 5,578 $ 519 $ 1,156 $ 138 $ 360 $ 14,887 Provision (credit) for loan losses 1,978 (717) 106 891 90 790 3,138 Loans charged-off (77) (304) — — — (402) (783) Recoveries — 1,700 — — — — 1,700 Total ending allowance balance $ 9,037 $ 6,257 $ 625 $ 2,047 $ 228 $ 748 $ 18,942
Schedule of allowance for loan losses and the recorded investment in loans by portfolio segment	The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment based on impairment method as of December 31, 2019 and 2018 (dollars in thousands): Commercial Commercial One-to-four At December 31, 2019 Real Estate & Industrial Construction Multi-family Family Consumer Total Allowance for loan losses: Individually evaluated for impairment $ — $ 805 $ — $ — $ 64 $ 311 $ 1,180 Collectively evaluated for impairment 15,317 6,265 411 2,453 203 443 25,092 Total ending allowance balance $ 15,317 $ 7,070 $ 411 $ 2,453 $ 267 $ 754 $ 26,272 Loans: Individually evaluated for impairment $ 367 $ 1,047 $ — $ — $ 3,384 $ 728 $ 5,526 Collectively evaluated for impairment 1,667,869 447,572 30,827 375,611 79,286 71,228 2,672,393 Total ending loan balance $ 1,668,236 $ 448,619 $ 30,827 $ 375,611 $ 82,670 $ 71,956 $ 2,677,919 Commercial Commercial One-to-four At December 31, 2018 Real Estate & Industrial Construction Multi-family Family Consumer Total Allowance for loan losses: Individually evaluated for impairment $ — $ — $ — $ — $ — $ 44 $ 44 Collectively evaluated for impairment 9,037 6,257 625 2,047 228 704 18,898 Total ending allowance balance $ 9,037 $ 6,257 $ 625 $ 2,047 $ 228 $ 748 $ 18,942 Loans: Individually evaluated for impairment $ 383 $ — $ — $ — $ 1,078 $ 89 $ 1,550 Collectively evaluated for impairment 949,395 381,692 42,540 307,126 78,345 106,701 1,865,799 Total ending loan balance $ 949,778 $ 381,692 $ 42,540 $ 307,126 $ 79,423 $ 106,790 $ 1,867,349
Schedule of loans determined to be impaired by class of loans	The following tables present information related to loans determined to be impaired by class of loans as of and for the years ended December 31, 2019 and 2018 (dollars in thousands): Unpaid Principal Allowance for Loan Average Recorded Interest Income At December 31, 2019 Balance Recorded Investment Losses Allocated Investment Recognized With an allowance recorded: One-to-four family $ 633 $ 503 $ 64 $ 411 $ 19 Consumer 731 728 311 311 13 C&I 1,047 1,047 805 419 — Total $ 2,411 $ 2,278 $ 1,180 $ 1,141 $ 32 Without an allowance recorded: One-to-four family 3,028 $ 2,881 $ — $ 2,063 $ 124 Commercial real estate 367 367 — 375 15 Total $ 3,395 $ 3,248 $ — $ 2,438 $ 139 Unpaid Principal Allowance for Loan Average Recorded Interest Income At December 31, 2018 Balance Recorded Investment Losses Allocated Investment Recognized With an allowance recorded: One-to-four family — — — 111 — Consumer 105 89 44 157 7 Total $ 105 $ 89 $ 44 $ 268 $ 7 Without an allowance recorded: One-to-four family 1,355 1,078 — 1,477 59 Commercial real estate 385 383 — 1,471 87 Total $ 1,740 $ 1,461 $ — $ 2,948 $ 146
Schedule of recorded investment in non-accrual loans, loans past due over 90 days and still accruing by class of loans	The following tables present the recorded investment in non-accrual loans, loans past due over 90 days and still accruing by class of loans as of December 31, 2019 and 2018 (dollars in thousands): At December 31, 2019 Nonaccrual Loans Past Due Over 90 Days Still Accruing Commercial & industrial 1,047 408 One-to-four family 2,345 — Consumer 693 — Total $ 4,085 $ 408 At December 31, 2018 Nonaccrual Loans Past Due Over 90 Days Still Accruing Commercial & industrial — 239 Consumer 50 — Total $ 50 $ 239
Schedule of aging of the recorded investment in past due loans by class of loans	The following table presents the aging of the recorded investment in past due loans by class of loans as of December 31, 2019 and 2018 (dollars in thousands): Greater 30-59 60-89 than 90 Total past Current At December 31, 2019 Days Days days due loans Total Commercial real estate $ — $ — $ — $ — $ 1,668,236 $ 1,668,236 Commercial & industrial 346 — 1,455 1,801 446,818 448,619 Construction — — — — 30,827 30,827 Multi-family — — — — 375,611 375,611 One-to-four family — — — — 82,670 82,670 Consumer 636 14 693 1,343 70,613 71,956 Total $ 982 $ 14 $ 2,148 $ 3,144 $ 2,674,775 $ 2,677,919 Greater 30-59 60-89 than 90 Total past Current At December 31, 2018 Days Days days due loans Total Commercial real estate $ — $ — $ — $ — $ 949,778 $ 949,778 Commercial & industrial 1,670 95 239 2,004 379,688 381,692 Construction — — — — 42,540 42,540 Multi-family — — — — 307,126 307,126 One-to-four family 870 — — 870 78,553 79,423 Consumer 119 43 50 212 106,578 106,790 Total $ 2,659 $ 138 $ 289 $ 3,086 $ 1,864,263 $ 1,867,349
Schedule of recorded investment in TDRs by class of loans	The following tables present the recorded investment in TDRs by class of loans as of December 31, 2019 and 2018 (dollars in thousands): At December 31, 2019 Troubled Debt Restructuring Commercial real estate $ 367 One-to-four family 1,039 Consumer 35 Total $ 1,441 At December 31, 2018 Troubled Debt Restructuring Commercial real estate $ 383 One-to-four family 1,078 Consumer 39 Total $ 1,500
Schedule of risk category of loans by class of loans	Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass-rated loans. Based on the most recent analysis performed, the risk category of loans by class of loans is as follows (dollars in thousands): Special At December 31, 2019 Pass Mention Substandard Doubtful Total Commercial real estate $ 1,667,869 $ 367 $ — $ — $ 1,668,236 Commercial & industrial 446,612 — 960 1,047 448,619 Construction 30,827 — — — 30,827 Multi-family 375,611 — — — 375,611 Total $ 2,520,919 $ 367 $ 960 $ 1,047 $ 2,523,293 Special At December 31, 2018 Pass Mention Substandard Doubtful Total Commercial real estate $ 949,395 $ 383 $ — $ — $ 949,778 Commercial & industrial 381,692 — — — 381,692 Construction 41,044 1,496 — — 42,540 Multi-family 307,126 — — — 307,126 Total $ 1,679,257 $ 1,879 $ — $ — $ 1,681,136

PREMISES AND EQUIPMENT (Tables)

PREMISES AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2019
PREMISES AND EQUIPMENT
Schedule of premises and equipment	Premises and equipment are summarized as follows as of December 31, 2019 and 2018 (dollars in thousands): Year Ended December 31, 2019 2018 Furniture and Equipment (useful life of 3 to 7 years) $ 9,961 $ 8,773 Furniture and Equipment in Process 2,175 — Leasehold Improvements (useful life of 3 to 10 years) 11,092 11,387 Leasehold Improvements in Process 3,768 — Total Premises and Equipment 26,996 20,160 Less accumulated depreciation and amortization (14,896) (13,283) Total Premises and Equipment, net $ 12,100 $ 6,877

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2019
DEPOSITS
Schedule of deposits	Deposits consisted of the following as of December 31, 2019 and 2018 (dollars in thousands): At December 31, 2019 2018 Noninterest bearing demand accounts $ 1,090,479 $ 798,563 Money market 1,573,716 745,040 Savings accounts 16,204 19,950 Time Deposits: Time deposits under $100,000 5,483 7,045 Time deposits $100,000 and over 104,892 89,956 Total deposits $ 2,790,774 $ 1,660,554
Schedule of time deposits maturities	The following are scheduled maturities of time deposits as of December 31, 2019 (dollars in thousands): At December 31, 2019 2020 $ 91,884 2021 14,265 2022 859 2023 448 2024 2,919 Total time deposits $ 110,375

BORROWINGS (Tables)

BORROWINGS (Tables)	12 Months Ended
	Dec. 31, 2019
BORROWINGS
Schedule of borrowings from the FHLB	Borrowings from the FHLB at December 31, 2019 and 2018 were as follows (dollars in thousands): 2019 2018 Maturing in 2020, fixed rate at rates from 1.86% to 2.09%, weighted averaging 2.02% $ 144,000 $ — Maturing in 2019, fixed rate at rates from 2.47% to 2.73%, weighted averaging 2.64% — 185,000 Total $ 144,000 $ 185,000
Schedule of FHLB advances that mature over the next five years	FHLB advances that mature over the next five years and thereafter as follows (dollars in thousands): Principal 2020 $ 144,000 2021 — 2022 — 2023 — 2024 — Total $ 144,000

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2019
INCOME TAXES
Schedule of components of income taxes	Income tax expense consisted of the following for the years ended December 31, 2019 and 2018 (dollars in thousands): Year Ended December 31, (in thousands) 2019 2018 Current Federal $ 9,222 $ 7,990 State and local 6,570 4,762 Total current 15,792 12,752 Deferred Federal (845) (896) State and local (1,020) (635) Total deferred (1,865) (1,531) Total income tax expense $ 13,927 $ 11,221
Schedule of deferred tax assets and liabilities	Deferred tax assets and liabilities consist of the following (dollars in thousands): At December 31, 2019 2018 Deferred tax assets: Allowance for loan losses $ 8,303 $ 5,893 Interest on nonaccrual loans 24 28 Off balance sheet reserves 57 127 Restricted stock 188 167 Tangible asset 17 20 Non-qualified stock options 294 290 Net unrealized loss on securities available for sale — 172 Other 51 — Total gross deferred tax assets 8,934 6,697 Deferred tax liabilities: Depreciation and amortization 781 392 Net unrealized gain on securities available for sale 604 — Pass-through income 69 255 Prepaid assets 341 — Total gross deferred tax liabilities 1,795 647 Net deferred tax asset, included in other assets $ 7,139 $ 6,050
Schedule of reconciliation of statutory federal income tax rate	The following is a reconciliation of the Company’s statutory federal income tax rate of 21% to its effective tax rate for the years ended December 31, 2019 and 2018 (dollars in thousands): For the year ended December 31, 2019 2018 Tax expense/ Tax expense/ (benefit) Rate (benefit) Rate Pretax income at statutory rates $ 9,253 21.00 % $ 7,723 21.00 % State and local taxes, net of federal income tax benefit 4,385 9.95 3,260 8.87 Nondeductible expenses 430 0.97 327 0.89 Excess tax deduction on equity awards (132) (0.30) (83) (0.23) Tax-exempt income, net (2) (0.00) (6) (0.02) Other (7) (0.01) — — Effective income tax expense/rate $ 13,927 31.61 % $ 11,221 30.51 %

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2019
COMMITMENTS AND CONTINGENCIES
Schedule of approximate future minimum rental payments required under all non-cancellable operating leases	Approximate future minimum rental payments required under all non-cancellable operating leases, before considering renewal options that generally are present, were as follows (dollars in thousands): Year Ending December 31, 2020 $ 4,403 2021 3,811 2022 3,741 2023 3,412 2024 3,370 Thereafter (and through 2035) 26,578 $ 45,315

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2019
FAIR VALUE OF FINANCIAL INSTRUMENTS
Schedule of Assets and Liabilities measured at fair value on a recurring basis	Assets and liabilities measured at fair value on a recurring basis are summarized below (dollars in thousands): Fair Value Measurement using: Quoted Prices in Active Significant Markets Other Significant Carrying For Identical Observable Unobservable Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) At December 31, 2019 Residential mortgage securities $ 177,263 $ — $ 177,263 $ — Commercial mortgage securities 32,472 — 32,472 — U.S. Government agency securities 25,207 — 25,207 — CRA Mutual Fund 2,224 2,224 — — Fair Value Measurement using: Quoted Prices in Active Significant Markets Other Significant Carrying For Identical Observable Unobservable Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) At December 31, 2018 Residential mortgage securities $ 23,513 $ - $ 23,513 $ - Commercial mortgage securities 5,849 - 5,849 - Municipal bond 1,077 - 1,077 - CRA Mutual Fund 2,110 2,110 - -
Schedule of carrying amount and estimated fair values of financial instruments	Carrying amount and estimated fair values of financial instruments at December 31, 2019 and 2018 were as follows (dollars in thousands): Fair Value Measurement Using: Quoted Prices in Active Significant Markets Other Significant Carrying For Identical Observable Unobservable Total Fair At December 31, 2019 Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Value Assets: Cash and due from banks $ 10,176 $ 10,176 $ — $ — $ 10,176 Overnight deposits 381,045 381,045 — — 381,045 Securities available for sale 234,942 — 234,942 — 234,942 Securities held to maturity 3,722 — 3,712 — 3,712 Equity investments 2,224 2,224 — — 2,224 Loans, net 2,646,677 — — 2,609,233 2,609,233 Other investments FRB Stock 7,317 N/A N/A N/A N/A FHLB Stock 8,122 N/A N/A N/A N/A SBA Loan Fund 5,000 N/A N/A N/A N/A Disability Fund 500 — 500 — 500 Accrued interest receivable 8,862 — 544 8,318 8,862 Financial liabilities: Non-interest-bearing demand deposits $ 1,090,479 $ 1,090,479 $ — $ — $ 1,090,479 Money market and savings deposits 1,589,920 1,589,920 — — 1,589,920 Time deposits 110,375 — 110,800 — 110,800 Federal Home Loan Bank of New York advances 144,000 — 144,229 — 144,229 Trust preferred securities payable 20,620 — — 20,011 20,011 Subordinated debt, net of issuance cost 24,601 — 25,375 — 25,375 Accrued interest payable 1,229 14 1,009 206 1,229 Fair Value Measurement Using: Quoted Prices in Active Significant Markets Other Significant Carrying For Identical Observable Unobservable Total Fair At December 31, 2018 Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Value Assets: Cash and due from banks $ 9,246 $ 9,246 $ — $ — $ 9,246 Overnight deposits 223,704 223,704 — — 223,704 Securities available for sale 30,439 — 30,439 — 30,439 Securities held to maturity 4,571 — 4,403 — 4,403 Equity investments 2,110 2,110 — — 2,110 Loans, net 1,846,274 — — 1,796,462 1,796,462 Other investments FRB Stock 7,250 N/A N/A N/A N/A FHLB Stock 9,537 N/A N/A N/A N/A SBA Loan Fund 5,000 N/A N/A N/A N/A Certificates of deposit 500 — 500 — 500 Accrued interest receivable 5,507 — 127 5,380 5,507 Financial Liabilities: Non-interest-bearing demand deposits $ 798,563 $ 798,563 $ — $ — $ 798,563 Money market and savings deposits 764,990 764,990 764,990 Time deposits 97,001 — 96,859 — 96,859 Federal Home Loan Bank of New York advances 185,000 — 184,999 — 184,999 Trust preferred securities payable 20,620 — — 19,821 19,821 Subordinated debt, net of issuance cost 24,545 — 25,125 — 25,125 Accrued interest payable 1,282 13 1,044 225 1,282

STOCK COMPENSATION PLAN (Tables

STOCK COMPENSATION PLAN (Tables)	12 Months Ended
	Dec. 31, 2019
STOCK COMPENSATION PLAN
Schedule of status of the stock option plan	2019 Weighted Average Number of Exercise Options Price Outstanding, beginning of year 231,000 $ 18.00 Granted — — Exercised — — Cancelled/forfeited — — Outstanding, end of year 231,000 $ 18.00 Options vested and exercisable at year-end 231,000 $ 18.00 Aggregate intrinsic value of options outstanding at December 31, 2019 $ 6,983,130 Weighted average remaining contractual life (years) 4.38
Schedule of summary of stock options outstanding	Options Outstanding Range of Average Number Outstanding at Weighted Average Weighted Average Weighted average Exercise Prices December 31, 2019 Remaining Contractual Life Exercise Price intrinsic value $10 – 20 231,000 4.38 $ 18.00 $ 30.23 $21 – 30 — — $ — $ — $10 – 30 231,000 4.38 $ 18.00 $ 30.23
Schedule of changes in the non-vested restricted stock awards	Year Ended December 31, 2019 Year Ended December 31, 2018 Weighted Average Weighted Average Number of Shares Grant Date Fair Value Number of Shares Grant Date Fair Value Outstanding, beginning of period 53,957 $ 21.46 76,104 $ Granted 106,423 35.36 8,987 Forfeited (1,561) 32.71 — — Vested (53,981) 32.22 (31,134) Outstanding at end of period 104,838 $ 29.86 53,957 $
Summary of changes in the non-vested Performance Restricted Share Units awards	The following table summarizes the changes in the Company’s non-vested PRSU awards for year ended December 31, 2019 (dollars in thousands, except share information): For the year ended December 31, 2019 Weighted average service inception date fair value of award shares $ 4,064,295 Minimum aggregate share payout 12,000 Maximum aggregate share payout 90,000 Likely aggregate share payout 90,000 Compensation expense recognized $ 1,430,011

FINANCIAL INSTRUMENTS WITH OF_2

FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK (Tables)	12 Months Ended
	Dec. 31, 2019
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK
Schedule of off-balance-sheet financial instruments	The Bank had outstanding the following off-balance-sheet financial instruments whose contract amounts represent credit risk as of December 31, 2019 and 2018 (dollars in thousands): At December 31, 2019 At December 31, 2018 Variable Variable Fixed Rate Rate Fixed Rate Rate Undrawn lines of credit $ 17,204 $ 193,767 $ 7,737 $ 130,547 Letters of credit 47,743 — 34,351 — $ 64,947 $ 193,767 $ 42,088 $ 130,547

REGULATORY CAPITAL (Tables)

REGULATORY CAPITAL (Tables)	12 Months Ended
	Dec. 31, 2019
REGULATORY CAPITAL
Schedule of requirements for minimum capital adequacy and classification	Actual and required capital amounts and ratios are presented below at year end (dollars in thousands): To be Well Capitalized For Capital Adequacy under Prompt Corrective Actual Purposes Action Regulations Amount Ratio Amount Ratio Amount Ratio At December 31, 2019 Total capital (to risk-weighted assets) Metropolitan Bank Holding Corp. $ 350,403 12.5 % $ 223,973 ≥ 8.0 % $ N/A ≥ N/A % Metropolitan Commercial Bank $ 356,353 12.7 % $ 223,858 ≥ 8.0 % $ 279,823 ≥ % Tier 1 common equity (to risk-weighted assets) Metropolitan Bank Holding Corp. $ 282,646 10.1 % $ 125,985 ≥ 4.5 % $ N/A ≥ N/A % Metropolitan Commercial Bank $ 329,905 11.8 % $ 125,920 ≥ 4.5 % $ 181,885 ≥ % Tier 1 capital (to risk-weighted assets) Metropolitan Bank Holding Corp. $ 308,769 11.0 % $ 167,980 ≥ 6.0 % $ N/A ≥ N/A % Metropolitan Commercial Bank $ 329,905 11.8 % $ 167,894 ≥ 6.0 % $ 223,858 ≥ % Tier 1 capital (to average assets) Metropolitan Bank Holding Corp. $ 308,769 9.4 % $ 131,087 ≥ 4.0 % $ N/A ≥ N/A % Metropolitan Commercial Bank $ 329,905 10.1 % $ 131,000 ≥ 4.0 % $ 163,750 ≥ % At December 31, 2018 Total capital (to risk-weighted assets) Metropolitan Bank Holding Corp. $ 319,053 16.9 % $ 151,053 ≥ 8.0 % N/A N/A % Metropolitan Commercial Bank $ 314,226 16.7 % $ 150,900 ≥ 8.0 % $ 188,625 ≥ 10.0 % Tier 1 common equity (to risk-weighted assets) Metropolitan Bank Holding Corp. $ 249,655 13.2 % $ 84,968 ≥ 4.5 % N/A N/A % Metropolitan Commercial Bank $ 294,880 15.6 % $ 84,881 ≥ 4.5 % $ 122,606 ≥ 6.5 % Tier 1 capital (to risk-weighted assets) Metropolitan Bank Holding Corp. $ 275,158 14.6 % $ 113,290 ≥ 6.0 % N/A N/A % Metropolitan Commercial Bank $ 294,880 15.6 % $ 113,175 ≥ 6.0 % $ 150,900 ≥ 8.0 % Tier 1 capital (to average assets) Metropolitan Bank Holding Corp. $ 275,158 13.7 % $ 80,244 ≥ 4.0 % N/A N/A % Metropolitan Commercial Bank $ 294,880 14.7 % $ 80,050 ≥ 4.0 % $ 100,063 ≥ 5.0 %

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	12 Months Ended
	Dec. 31, 2019
EARNINGS PER COMMON SHARE
Schedule of earnings per common share	The factors used in the earnings per share calculation are as follows (in thousands, except per share data). Year Ended December 31, 2019 2018 Basic Net income per consolidated statements of income $ 30,134 $ 25,554 Less: Earnings allocated to participating securities (448) (168) Net income available to common stockholders $ 29,686 $ 25,386 Weighted average common shares outstanding including participating securities 8,297,478 8,200,705 Less: Weighted average participating securities (123,336) (67,152) Weighted average common shares outstanding 8,174,142 8,133,553 Basic earnings per common share 3.63 3.12 Diluted Net income allocated to common stockholders $ 29,686 $ 25,386 Weighted average common shares outstanding for basic earnings per common share 8,174,142 8,133,553 Add: Dilutive effects of assumed exercise of stock options 125,085 137,089 Add: Dilutive effects of assumed vesting of performance based restricted stock 39,914 17,882 Average shares and dilutive potential common shares 8,339,141 8,288,524 Dilutive earnings per common share $ 3.56 $ 3.06

PARENT COMPANY FINANCIAL INFO_2

PARENT COMPANY FINANCIAL INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2019
PARENT COMPANY FINANCIAL INFORMATION
Schedule of condensed balance sheets	Condensed Statements of Financial Condition At December 31, 2019 2018 Assets Cash and due from banks $ 1,836 $ 3,547 Loans, net of allowance for loan losses 776 776 Investments 620 620 Investment in subsidiary bank, at equity 340,733 304,141 Other assets 1,106 1,380 Total assets $ 345,071 $ 310,464 Liabilities and Stockholders’ Equity Trust preferred securities payable 20,620 20,620 Subordinated debt payable, net of issuance costs 24,601 24,545 Other liabilities 726 782 Total liabilities 45,947 45,947 Stockholders’ equity: Preferred stock 3 3 Common stock 82 82 Surplus 216,468 213,490 Retained earnings 81,364 51,415 Accumulated other comprehensive loss, net of tax 1,207 (473) Total equity 299,124 264,517 Total liabilities and stockholders’ equity $ 345,071 $ 310,464
Schedule of condensed statements of income	Condensed Statements of Operation Year Ended December 31, 2019 2018 Income: Loans $ 17 $ 17 Securities and money market funds 27 — Total interest income 44 17 Interest expense: Trust preferred securities payable 908 846 Subordinated debt interest expense 1,618 1,619 Total interest expense 2,526 2,465 Net interest expense (2,482) (2,448) Provision for loan losses — — Net interest income after provision for loan losses (2,482) (2,448) Other expense 3,865 1,275 Loss before undistributed earnings of subsidiary bank (6,347) (3,723) Equity in undistributed earnings of subsidiary bank 35,209 28,094 Income before income tax expense 28,862 24,371 Income tax benefit 1,272 1,183 Net income $ 30,134 $ 25,554 Comprehensive income $ 31,746 $ 25,287
Schedule of condensed statement of cash flows	Condensed Statement of Cash Flows Year Ended December 31, 2019 2018 Cash Flows From Operating Activities: Net income $ 30,134 $ 25,554 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Undistributed earnings of subsidiary bank (35,209) (28,094) Non-employee stock based compensation 400 440 Amortization of trust preferred issuance costs 56 56 Stock based compensation expense 2,667 1,711 Decrease (increase) in other assets 274 (2,910) Increase (decrease) in other liabilities 56 (167) Net cash used in operating activities (1,622) (3,410) Cash Flows From Investing Activities: Investments in subsidiary bank — — Net cash used in Investing activities — — Cash Flows From Financing Activities: Proceeds from issuance of common stock, net — (33) Redemption of common stock for tax withholdings for restricted stock vesting (89) (131) Proceeds from exercise of stock options — 360 Net cash provided by financing activities (89) 196 Net (decrease) increase in cash and cash equivalents (1,711) (3,214) Cash and cash equivalents, beginning of year 3,547 6,761 Cash and cash equivalents, end of year $ 1,836 $ 3,547

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	12 Months Ended
	Dec. 31, 2019
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Summary of changes in Accumulated Other Comprehensive Income (Loss) balances, net of tax effects	The following table summarizes the changes in Accumulated Other Comprehensive Income (Loss) balances, net of tax effects at the dates indicated (dollars in thousands): Year Ended December 31, 2019 2018 Beginning balance $ (473) $ (206) Cumulative effect of adopting new accounting standard ASU 2016-01, net of taxes 68 — Beginning balance, as adjusted (405) (206) Total unrealized gains/loss on securities available for sale, net of taxes 1,612 (293) Amount reclassified from accumulated other comprehensive income, net of tax — 26 Net current period other comprehensive loss 1,612 (267) Ending balance $ 1,207 $ (473)
Schedule of reclassifications out of accumulated other comprehensive income (loss)	Year Ended December 31, 2019 2018 Affected line item in the Consolidated Statements of Operations Realized loss on call of available-for-sale securities $ — $ (37) Losses on call of securities Income tax benefit — 11 Income tax expense Total reclassifications, net of income tax $ — $ (26)

UNAUDITED QUARTERLY FINANCIAL_2

UNAUDITED QUARTERLY FINANCIAL DATA (Tables)	12 Months Ended
	Dec. 31, 2019
UNAUDITED QUARTERLY FINANCIAL DATA
Schedule of consolidated quarterly financial data	Selected Consolidated Quarterly Financial Data (dollars, except per share amounts, in thousands) 2019 Quarter Ended December 31 September 30 June 30 March 31 Interest income $ 36,466 $ 35,496 $ 30,828 $ 26,990 Interest expense 8,424 9,443 7,891 6,412 Net interest income 28,042 26,053 22,937 20,578 Provision for loan losses 2,300 2,004 1,950 (2,031) Net interest income after provision for loan losses 25,742 24,049 20,987 22,609 Non-interest income 2,862 2,700 2,674 2,393 Non-interest expense 17,042 15,495 14,724 12,694 Income before income taxes 11,562 11,254 8,937 12,308 Income tax expense 3,699 3,571 2,880 3,777 Net income $ 7,863 $ 7,683 $ 6,057 $ 8,531 Basic earnings per common share $ 0.95 $ 0.92 $ 0.73 $ 1.03 Diluted earnings per common share $ 0.93 $ 0.90 $ 0.71 $ 1.01 2018 Quarter Ended December 31 September 30 June 30 March 31 Interest income $ 23,342 $ 21,907 $ 19,998 $ 18,693 Interest expense 4,381 3,556 2,603 2,177 Net interest income 18,961 18,351 17,395 16,516 Provision for loan losses 844 (453) 1,270 1,477 Net interest income after provision for loan losses 18,117 18,804 16,125 15,039 Non-interest income 2,188 2,012 2,649 5,312 Non-interest expense 11,602 10,355 10,275 11,238 Income before income taxes 8,703 10,461 8,499 9,113 Income tax expense 2,418 3,348 2,634 2,822 Net income $ 6,285 $ 7,113 $ 5,865 $ 6,291 Basic earnings per common share $ 0.77 $ 0.87 $ 0.72 $ 0.77 Diluted earnings per common share $ 0.75 $ 0.85 $ 0.70 $ 0.75

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	12 Months Ended
	Dec. 31, 2019
REVENUE FROM CONTRACTS WITH CUSTOMERS
Schedule of Company’s sources of non-interest income	The following table presents the Company’s sources of non-interest income, within the scope of the ASU, for the years ended December 31, 2019 and 2018 (dollars in thousands): Year Ended December 31, 2019 2018 (1) Service charges on deposit accounts $ 3,556 $ 4,248 Prepaid third-party debit card income 5,643 4,640 Other service charges and fees 1,366 3,305 Total $ 10,565 $ 12,193 (1) The Company elected the modified retrospective approach of adoption; therefore, prior period balances are presented under legacy GAAP and may not be comparable to current year presentation.

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details)	12 Months Ended
	Dec. 31, 2019USD ($)segment	Dec. 31, 2018USD ($)
Goodwill	$ 9,733,000	$ 9,733,000
Impairment of goodwill	0	0
Investment in Disability Opportunity Fund		500,000
Investment in FRB	7,300,000	7,300,000
Investment in FHLB	8,100,000	9,500,000
Investment in SBA Loan fund	5,000,000	5,000,000
Bankruptcy accounts subject to the licensing fees	865,800,000	80,800,000
Escrow deposit	$ 10,600,000	9,400,000
Number of reportable operating segment | segment	1
License
Cost of goods and services sold	$ 8,500,000	$ 1,000,000
Maximum
Premises and equipment useful life	10 years
Minimum
Premises and equipment useful life	3 years

SUMMARY OF RECENT ACCOUNTING _3

SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS (Details)	Jan. 31, 2019USD ($)
ASU 2014-09
Adjustment to opening retained earnings	$ 117,000
ASU 2016-01 and 2018-03
Adjustment to opening retained earnings	$ 68,000

INVESTMENT SECURITIES (Schedule

INVESTMENT SECURITIES (Schedule of amortized cost and fair value of securities available-for-sale) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Schedule of Available-for-sale Securities [Line Items]
Investment securities available for sale, at fair value, substantially restricted	$ 234,942	$ 30,439
Available-for-sale Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	233,186	31,041
Gross Unrealized/Unrecognized Gains	1,891	6
Gross Unrealized/Unrecognized Losses	(135)	(608)
Investment securities available for sale, at fair value, substantially restricted	234,942	30,439
Available-for-sale Securities | Residential mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	175,902	24,093
Gross Unrealized/Unrecognized Gains	1,478	3
Gross Unrealized/Unrecognized Losses	(117)	(583)
Investment securities available for sale, at fair value, substantially restricted	177,263	23,513
Available-for-sale Securities | Commercial mortgage-backed securities issued by U.S. government sponsored entities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	32,284	5,874
Gross Unrealized/Unrecognized Gains	206
Gross Unrealized/Unrecognized Losses	(18)	(25)
Investment securities available for sale, at fair value, substantially restricted	32,472	5,849
Available-for-sale Securities | U.S. Government agency securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	25,000
Gross Unrealized/Unrecognized Gains	207
Investment securities available for sale, at fair value, substantially restricted	$ 25,207
Available-for-sale Securities | Municipal bond
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		1,074
Gross Unrealized/Unrecognized Gains		3
Investment securities available for sale, at fair value, substantially restricted		$ 1,077

INVESTMENT SECURITIES (Schedu_2

INVESTMENT SECURITIES (Schedule of amortized cost and fair value of securities held-to-maturity) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 3,722	$ 4,571
Total Securities	3,712	4,403
Held-to-maturity Securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	3,722	4,571
Gross Unrealized/Unrecognized Gains	9
Gross Unrealized/Unrecognized Losses	(19)	(168)
Total Securities	3,712	4,403
Held-to-maturity Securities | Residential mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	3,722	4,546
Gross Unrealized/Unrecognized Gains	9
Gross Unrealized/Unrecognized Losses	(19)	(168)
Total Securities	$ 3,712	4,378
Held-to-maturity Securities | Foreign government securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost		25
Total Securities		$ 25

INVESTMENT SECURITIES (Schedu_3

INVESTMENT SECURITIES (Schedule of amortized cost and fair value of marketable equity securities) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Marketable Securities [Line Items]
Fair Value CRA Mutual Fund	$ 2,224	$ 2,110
Equity securities
Marketable Securities [Line Items]
Amortized Cost - CRA Mutual Fund	2,258	2,208
Gross Unrealized/Unrecognized Losses	(34)	(98)
Fair Value CRA Mutual Fund	2,224	2,110
Equity securities | CRA mutual fund
Marketable Securities [Line Items]
Amortized Cost - CRA Mutual Fund	2,258	2,208
Gross Unrealized/Unrecognized Losses	(34)	(98)
Fair Value CRA Mutual Fund	$ 2,224	$ 2,110

INVESTMENT SECURITIES (Proceeds

INVESTMENT SECURITIES (Proceeds from sales and calls of securities and associated gains and losses) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
INVESTMENT SECURITIES
Proceeds from calls of securities available for sale	$ 1,065,000	$ 1,463,000
Gains on sale of securities	0
Loss on sale of securities	$ 0	$ 37,000

INVESTMENT SECURITIES (Schedu_4

INVESTMENT SECURITIES (Schedule of Amortized Cost and Fair Value of Securities Classified by Contractual Maturity) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Amortized Cost
Within one year		$ 25
Amortized Cost, total		25
Amortized Cost, Held to maturity	$ 3,722	4,571
Fair Value
Within one year		25
Fair Value, total		25
Fair Value, Held to maturity	3,712	4,403
Amortized Cost
Within one year		257
Five to ten years	25,000
After ten years		817
Amortized Cost, total	25,000	1,074
Amortized Cost, Available-for-sale Securities	233,186	31,041
Fair Value
Within one year		258
Five to ten years	25,207
After ten years		819
Fair Value, total	25,207	1,077
Fair Value, Available-for-sale Securities	234,942	30,439
AFS securities pledged to secure customer deposit	126,200
Residential mortgage-backed securities
Amortized Cost
Amortized Cost, Held to maturity	3,722	4,546
Fair Value
Fair Value, Held to maturity	3,712	4,378
Amortized Cost
Amortized Cost, Available-for-sale Securities	175,902	24,093
Fair Value
Fair Value, Available-for-sale Securities	177,263	23,513
Commercial mortgage-backed securities issued by U.S. government sponsored entities
Amortized Cost
Amortized Cost, Available-for-sale Securities	32,284	5,874
Fair Value
Fair Value, Available-for-sale Securities	$ 32,472	$ 5,849

INVESTMENT SECURITIES (Schedu_5

INVESTMENT SECURITIES (Schedule of Securities with Unrealized Losses) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)item
Marketable equity securities
Number of securities of one issuer | item	0	0
Impairment loss	$ 0	$ 0
Equity securities
Marketable equity securities
12 months or more, Estimated Fair Value	2,224	2,110
12 months or more, Unrealized/Unrecognized Losses	(34)	(98)
Total, Estimated Fair Value	2,224	2,110
Total, Unrealized Losses	(34)	(98)
Available-for-sale Securities
Available-for-sale Securities
Less than 12 Months, Estimated Fair Value	32,761	10,374
Less than 12 Months, Unrealized/Unrecognized Losses	(70)	(73)
12 months or more, Estimated Fair Value	6,728	15,739
12 months or more, Unrealized/Unrecognized Losses	(65)	(535)
Total, Estimated Fair Value	39,489	26,113
Total, Unrealized/Unrecognized Losses	(135)	(608)
Held-to-maturity Securities
Held-to-maturity Securities
12 months or more, Estimated Fair Value	1,470	4,378
12 months or more, Unrealized/Unrecognized Losses	(19)	(168)
Total, Estimated Fair Value	1,470	4,378
Total, Unrealized Losses	(19)	(168)
Residential mortgage-backed securities | Available-for-sale Securities
Available-for-sale Securities
Less than 12 Months, Estimated Fair Value	22,850	10,374
Less than 12 Months, Unrealized/Unrecognized Losses	(52)	(73)
12 months or more, Estimated Fair Value	6,728	9,890
12 months or more, Unrealized/Unrecognized Losses	(65)	(510)
Total, Estimated Fair Value	29,578	20,264
Total, Unrealized/Unrecognized Losses	(117)	(583)
Residential mortgage-backed securities | Held-to-maturity Securities
Held-to-maturity Securities
12 months or more, Estimated Fair Value	1,470	4,378
12 months or more, Unrealized/Unrecognized Losses	(19)	(168)
Total, Estimated Fair Value	1,470	4,378
Total, Unrealized Losses	(19)	(168)
Commercial mortgage-backed securities issued by U.S. government sponsored entities | Available-for-sale Securities
Available-for-sale Securities
Less than 12 Months, Estimated Fair Value	9,911
Less than 12 Months, Unrealized/Unrecognized Losses	(18)
12 months or more, Estimated Fair Value		5,849
12 months or more, Unrealized/Unrecognized Losses		(25)
Total, Estimated Fair Value	9,911	5,849
Total, Unrealized/Unrecognized Losses	(18)	(25)
CRA mutual fund | Equity securities
Marketable equity securities
12 months or more, Estimated Fair Value	2,224	2,110
12 months or more, Unrealized/Unrecognized Losses	(34)	(98)
Total, Estimated Fair Value	2,224	2,110
Total, Unrealized Losses	$ (34)	$ (98)

LOANS (Schedule of Loan Receiva

LOANS (Schedule of Loan Receivables) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Loans and Leases Receivable Disclosure [Line Items]
Total loans	$ 2,677,919	$ 1,867,349
Deferred fees	(4,970)	(2,133)
Loans, net of deferred fees and unamortized costs	2,672,949	1,865,216
Allowance for loan losses	(26,272)	(18,942)	$ (14,887)
Net loans	2,646,677	1,846,274
Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total loans	2,157,344	1,378,867
Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Total loans	448,619	381,692
Allowance for loan losses	(7,070)	(6,257)	(5,578)
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total loans	71,956	106,790
Allowance for loan losses	(754)	(748)	(360)
Commercial | Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total loans	1,668,236	949,778
Allowance for loan losses	(15,317)	(9,037)	(7,136)
Construction | Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total loans	30,827	42,540
Allowance for loan losses	(411)	(625)	(519)
Multi-family | Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total loans	375,611	307,126
Allowance for loan losses	(2,453)	(2,047)	(1,156)
One to four family | Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total loans	82,670	79,423
Allowance for loan losses	$ (267)	$ (228)	$ (138)

LOANS (Schedule of Activity in

LOANS (Schedule of Activity in the Allowance for Loan Losses by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance				$ 18,942				$ 14,887	$ 18,942	$ 14,887
Provision for loan and lease losses	$ 2,300	$ 2,004	$ 1,950	(2,031)	$ 844	$ (453)	$ 1,270	1,477	4,223	3,138
Loans charged-off									(1,187)	(783)
Recoveries									4,294	1,700
Total ending allowance balance	26,272				18,942				26,272	18,942
Real estate | Commercial
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance				9,037				7,136	9,037	7,136
Provision for loan and lease losses									6,280	1,978
Loans charged-off										(77)
Total ending allowance balance	15,317				9,037				15,317	9,037
Real estate | Construction
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance				625				519	625	519
Provision for loan and lease losses									(214)	106
Total ending allowance balance	411				625				411	625
Real estate | Multi-family
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance				2,047				1,156	2,047	1,156
Provision for loan and lease losses									406	891
Total ending allowance balance	2,453				2,047				2,453	2,047
Real estate | One to four family
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance				228				138	228	138
Provision for loan and lease losses									39	90
Total ending allowance balance	267				228				267	228
Commercial and industrial
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance				6,257				5,578	6,257	5,578
Provision for loan and lease losses									(2,678)	(717)
Loans charged-off									(798)	(304)
Recoveries									4,289	1,700
Total ending allowance balance	7,070				6,257				7,070	6,257
Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance				$ 748				$ 360	748	360
Provision for loan and lease losses									390	790
Loans charged-off									(389)	(402)
Recoveries									5
Total ending allowance balance	$ 754				$ 748				$ 754	$ 748

LOANS (Schedule of Loans by Imp

LOANS (Schedule of Loans by Impairment Method) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Loans and Leases Receivable Disclosure [Line Items]
Individually evaluated for impairment, Allowance for loan losses	$ 1,180	$ 44
Collectively evaluated for impairment, Allowance for loan losses	25,092	18,898
Total ending allowance balance	26,272	18,942	$ 14,887
Individually evaluated for impairment, Loans	5,526	1,550
Collectively evaluated for impairment, Loans	2,672,393	1,865,799
Total ending loan balance	2,677,919	1,867,349
Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total ending loan balance	2,157,344	1,378,867
Real estate | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Collectively evaluated for impairment, Allowance for loan losses	15,317	9,037
Total ending allowance balance	15,317	9,037	7,136
Individually evaluated for impairment, Loans	367	383
Collectively evaluated for impairment, Loans	1,667,869	949,395
Total ending loan balance	1,668,236	949,778
Real estate | Construction
Loans and Leases Receivable Disclosure [Line Items]
Collectively evaluated for impairment, Allowance for loan losses	411	625
Total ending allowance balance	411	625	519
Collectively evaluated for impairment, Loans	30,827	42,540
Total ending loan balance	30,827	42,540
Real estate | Multi-family
Loans and Leases Receivable Disclosure [Line Items]
Collectively evaluated for impairment, Allowance for loan losses	2,453	2,047
Total ending allowance balance	2,453	2,047	1,156
Collectively evaluated for impairment, Loans	375,611	307,126
Total ending loan balance	375,611	307,126
Real estate | One to four family
Loans and Leases Receivable Disclosure [Line Items]
Individually evaluated for impairment, Allowance for loan losses	64
Collectively evaluated for impairment, Allowance for loan losses	203	228
Total ending allowance balance	267	228	138
Individually evaluated for impairment, Loans	3,384	1,078
Collectively evaluated for impairment, Loans	79,286	78,345
Total ending loan balance	82,670	79,423
Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Individually evaluated for impairment, Allowance for loan losses	805
Collectively evaluated for impairment, Allowance for loan losses	6,265	6,257
Total ending allowance balance	7,070	6,257	5,578
Individually evaluated for impairment, Loans	1,047
Collectively evaluated for impairment, Loans	447,572	381,692
Total ending loan balance	448,619	381,692
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Individually evaluated for impairment, Allowance for loan losses	311	44
Collectively evaluated for impairment, Allowance for loan losses	443	704
Total ending allowance balance	754	748	$ 360
Individually evaluated for impairment, Loans	728	89
Collectively evaluated for impairment, Loans	71,228	106,701
Total ending loan balance	$ 71,956	$ 106,790

LOANS (Schedule of Impaired by

LOANS (Schedule of Impaired by Class of Loans) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
With an allowance recorded:
Unpaid Principal Balance	$ 2,411	$ 105
Recorded Investment	2,278	89
Allowance for Loan Losses Allocated	1,180	44
Average Recorded Investment	1,141	268
Interest Income Recognized	32	7
Without an allowance recorded:
Unpaid Principal Balance	3,395	1,740
Recorded Investment	3,248	1,461
Average Recorded Investment	2,438	2,948
Interest Income Recognized	139	146
One to four family
With an allowance recorded:
Unpaid Principal Balance	633
Recorded Investment	503
Allowance for Loan Losses Allocated	64
Average Recorded Investment	411
Interest Income Recognized	19
Without an allowance recorded:
Unpaid Principal Balance	3,028	1,355
Recorded Investment	2,881	1,078
Average Recorded Investment	2,063	1,477
Interest Income Recognized	124	59
Real estate | Commercial
Without an allowance recorded:
Unpaid Principal Balance	367	385
Recorded Investment	367	383
Average Recorded Investment	375	1,471
Interest Income Recognized	15	87
Commercial and industrial
With an allowance recorded:
Unpaid Principal Balance	1,047
Recorded Investment	1,047
Allowance for Loan Losses Allocated	805
Average Recorded Investment	419
Commercial and industrial | One to four family
With an allowance recorded:
Average Recorded Investment		111
Consumer
With an allowance recorded:
Unpaid Principal Balance	731	105
Recorded Investment	728	89
Allowance for Loan Losses Allocated	311	44
Average Recorded Investment	311	157
Interest Income Recognized	$ 13	$ 7

LOANS (Schedule of Non-accrual

LOANS (Schedule of Non-accrual Loans) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Loans and Leases Receivable Disclosure [Line Items]
Nonaccrual	$ 4,085	$ 50
Loans Past Due Over 90 Days Still Accruing	408	239
Loans modified in troubled debt restructurings	1,441	1,500
One to four family
Loans and Leases Receivable Disclosure [Line Items]
Nonaccrual	2,345
Loans modified in troubled debt restructurings	1,039	1,078
Real estate | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Loans modified in troubled debt restructurings	367	383
Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Nonaccrual	1,047
Loans Past Due Over 90 Days Still Accruing	408	239
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Nonaccrual	693	50
Loans modified in troubled debt restructurings	$ 35	$ 39

LOANS (Schedule of Past Due Loa

LOANS (Schedule of Past Due Loans) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 3,144	$ 3,086
Loans not Past Due	2,674,775	1,864,263
Total loans	2,677,919	1,867,349
30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	982	2,659
60 - 89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	14	138
Greater than 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	2,148	289
Real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total loans	2,157,344	1,378,867
Real estate | Commercial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans not Past Due	1,668,236	949,778
Total loans	1,668,236	949,778
Real estate | Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans not Past Due	30,827	42,540
Total loans	30,827	42,540
Real estate | Multi-family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans not Past Due	375,611	307,126
Total loans	375,611	307,126
Real estate | One to four family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		870
Loans not Past Due	82,670	78,553
Total loans	82,670	79,423
Real estate | One to four family | 30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		870
Commercial and industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,801	2,004
Loans not Past Due	446,818	379,688
Total loans	448,619	381,692
Commercial and industrial | 30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	346	1,670
Commercial and industrial | 60 - 89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		95
Commercial and industrial | Greater than 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,455	239
Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,343	212
Loans not Past Due	70,613	106,578
Total loans	71,956	106,790
Consumer | 30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	636	119
Consumer | 60 - 89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	14	43
Consumer | Greater than 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 693	$ 50

LOANS (Schedule of Loans by Ris

LOANS (Schedule of Loans by Risk Category) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	$ 2,677,919	$ 1,867,349
Commercial Construction and Multifamily Real Estate Loans [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	2,523,293	1,681,136
Commercial Construction and Multifamily Real Estate Loans [Member] | Pass
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	2,520,919	1,679,257
Commercial Construction and Multifamily Real Estate Loans [Member] | Special Mention
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	367	1,879
Commercial Construction and Multifamily Real Estate Loans [Member] | Substandard
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	960
Commercial Construction and Multifamily Real Estate Loans [Member] | Doubtful
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	1,047
Real estate
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	2,157,344	1,378,867
Real estate | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	1,668,236	949,778
Real estate | Commercial | Pass
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	1,667,869	949,395
Real estate | Commercial | Special Mention
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	367	383
Real estate | Construction
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	30,827	42,540
Real estate | Construction | Pass
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	30,827	41,044
Real estate | Construction | Special Mention
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross		1,496
Real estate | Multi-family
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	375,611	307,126
Real estate | Multi-family | Pass
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	375,611	307,126
Real estate | One to four family
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	82,670	79,423
Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	448,619	381,692
Commercial and industrial | Pass
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	446,612	381,692
Commercial and industrial | Substandard
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	960
Commercial and industrial | Doubtful
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	1,047
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	$ 71,956	$ 106,790

LOANS (Troubled Debt Restructur

LOANS (Troubled Debt Restructurings) (Details)	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Loans and Leases Receivable Disclosure [Line Items]
Interest income recorded for nonperforming loans	$ 144,000	$ 14,000
Interest income recognized for nonperforming loans	94,000	12,000
Financing Receivable, Modifications, Recorded Investment	1,441,000	1,500,000
Loans modified in troubled debt restructurings	1,441,000	1,500,000
Specific reserves modified as TDRs	$ 81,000	$ 19,000
Number of contracts financing receivable modifications	0	0
Maximum
Loans and Leases Receivable Disclosure [Line Items]
Extended maturity period in modification of financing receivable	5 years
Minimum
Loans and Leases Receivable Disclosure [Line Items]
Extended maturity period in modification of financing receivable	3 years
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, Modifications, Recorded Investment	$ 35,000	$ 39,000
Loans modified in troubled debt restructurings	$ 35,000	$ 39,000

PREMISES AND EQUIPMENT (Schedul

PREMISES AND EQUIPMENT (Schedule of Premises and equipment) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Total Premises and Equipment	$ 26,996	$ 20,160
Less accumulated depreciation and amortization	(14,896)	(13,283)
Total Premises and Equipment, net	12,100	6,877
Furniture and Equipment
Property, Plant and Equipment [Line Items]
Total Premises and Equipment	9,961	8,773
Furniture and Equipment in Process
Property, Plant and Equipment [Line Items]
Total Premises and Equipment	2,175
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Total Premises and Equipment	11,092	$ 11,387
Leasehold Improvements in Process
Property, Plant and Equipment [Line Items]
Total Premises and Equipment	$ 3,768

PREMISES AND EQUIPMENT (Sched_2

PREMISES AND EQUIPMENT (Schedule of Premises and equipment) (Useful life) (Details)	12 Months Ended
	Dec. 31, 2019
Minimum
Property, Plant and Equipment [Line Items]
Premises and equipment useful life	3 years
Maximum
Property, Plant and Equipment [Line Items]
Premises and equipment useful life	10 years
Furniture and Equipment | Minimum
Property, Plant and Equipment [Line Items]
Premises and equipment useful life	3 years
Furniture and Equipment | Maximum
Property, Plant and Equipment [Line Items]
Premises and equipment useful life	7 years
Leasehold Improvements | Minimum
Property, Plant and Equipment [Line Items]
Premises and equipment useful life	3 years
Leasehold Improvements | Maximum
Property, Plant and Equipment [Line Items]
Premises and equipment useful life	10 years

PREMISES AND EQUIPMENT (Details

PREMISES AND EQUIPMENT (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
PREMISES AND EQUIPMENT
Depreciation and amortization expense	$ 1,600	$ 1,400

DEPOSITS (Schedule of Deposits)

DEPOSITS (Schedule of Deposits) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
DEPOSITS
Noninterest bearing demand accounts	$ 1,090,479	$ 798,563
Money market	1,573,716	745,040
Savings accounts	16,204	19,950
Time Deposits
Time deposits under $100,000	5,483	7,045
Time deposits $100,000 and over	104,892	89,956
Total deposits	$ 2,790,774	$ 1,660,554

DEPOSITS (Details)

DEPOSITS (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
DEPOSITS
Time deposits greater than $250,000	$ 61.4	$ 64.6

DEPOSITS (schedule maturities o

DEPOSITS (schedule maturities of time deposits) (Details) $ in Thousands	Dec. 31, 2019USD ($)
DEPOSITS
2020	$ 91,884
2021	14,265
2022	859
2023	448
2024	2,919
Total time deposits	$ 110,375

BORROWINGS (Advances from the F

BORROWINGS (Advances from the FHLB) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Federal Home Loan Bank, Advances [Line Items]
Federal Home Loan Bank of New York advances	$ 144,000	$ 185,000
Maturing in 2020, fixed rate at rates from 1.86% to 2.09%, weighted averaging 2.02%
Federal Home Loan Bank, Advances [Line Items]
Federal Home Loan Bank of New York advances	$ 144,000
Maturing in 2019, fixed rate at rates from 2.47% to 2.73%, weighted averaging 2.64%
Federal Home Loan Bank, Advances [Line Items]
Federal Home Loan Bank of New York advances		$ 185,000

BORROWINGS (Advances from the_2

BORROWINGS (Advances from the FHLB) - Fixed rate (Details)	Dec. 31, 2019
Maturing in 2020, fixed rate at rates from 1.86% to 2.09%, weighted averaging 2.02% | Minimum
Federal Home Loan Bank, Advances [Line Items]
Interest rate for Federal Home Loan Bank advances	1.86%
Maturing in 2020, fixed rate at rates from 1.86% to 2.09%, weighted averaging 2.02% | Maximum
Federal Home Loan Bank, Advances [Line Items]
Interest rate for Federal Home Loan Bank advances	2.09%
Maturing in 2020, fixed rate at rates from 1.86% to 2.09%, weighted averaging 2.02% | Weighted Average
Federal Home Loan Bank, Advances [Line Items]
Weighted average interest rate for Federal Home Loan Bank advances	2.02%
Maturing in 2019, fixed rate at rates from 2.47% to 2.73%, weighted averaging 2.64% | Minimum
Federal Home Loan Bank, Advances [Line Items]
Interest rate for Federal Home Loan Bank advances	2.47%
Maturing in 2019, fixed rate at rates from 2.47% to 2.73%, weighted averaging 2.64% | Maximum
Federal Home Loan Bank, Advances [Line Items]
Interest rate for Federal Home Loan Bank advances	2.73%
Maturing in 2019, fixed rate at rates from 2.47% to 2.73%, weighted averaging 2.64% | Weighted Average
Federal Home Loan Bank, Advances [Line Items]
Weighted average interest rate for Federal Home Loan Bank advances	2.64%

BORROWINGS (Schedule of FHLB ad

BORROWINGS (Schedule of FHLB advances mature over the next five years and thereafter) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Federal Home Loan Bank, Advances, Fiscal Year Maturity [Abstract]
2020	$ 144,000
Total	$ 144,000	$ 185,000

BORROWINGS (Details)

BORROWINGS (Details) - USD ($)	Mar. 08, 2017	Jul. 14, 2006	Dec. 07, 2005	Dec. 31, 2019	Dec. 31, 2018
Federal Home Loan Bank, Advances [Line Items]
FHLB advances, pledged as collateral				$ 437,800,000	$ 249,700,000
Available collateral to borrow an additional amount from FHLB				$ 293,800,000
Subordinated Debt
Federal Home Loan Bank, Advances [Line Items]
Debt instrument face amount	$ 25,000,000
Maturity date	Mar. 15, 2027
Interest rate	6.25%
Description of periodic payment	semi-annually on March 15 and September 15 of each year through March 15, 2022 and quarterly thereafter on March 15, June 15, September 15 and December 15 of each year
Subordinated Debt | London Interbank Offered Rate (LIBOR)
Federal Home Loan Bank, Advances [Line Items]
Basis spread on LIBOR variable rate	4.26%
Junior Subordinated Debt [Member]
Federal Home Loan Bank, Advances [Line Items]
Description of periodic payment				20 consecutive quarterly payments
Period for periodic payment				5 years
Metbank Capital Trust I [Member]
Federal Home Loan Bank, Advances [Line Items]
Investment in common securities of the trust			$ 310,000
Trust preferred securities issued			10,000,000
Metbank Capital Trust I [Member] | Junior Subordinated Debt [Member]
Federal Home Loan Bank, Advances [Line Items]
Debt instrument face amount			$ 10,000,000
Maturity date			Dec. 9, 2035
Description of LIBOR rate basis			3-month LIBOR
Interest rate during period				3.84%	4.66%
Metbank Capital Trust I [Member] | Junior Subordinated Debt [Member] | London Interbank Offered Rate (LIBOR)
Federal Home Loan Bank, Advances [Line Items]
Basis spread on LIBOR variable rate			1.85%
Metbank Capital Trust Two [Member]
Federal Home Loan Bank, Advances [Line Items]
Investment in common securities of the trust		$ 310,000
Trust preferred securities issued		10,000,000
Metbank Capital Trust Two [Member] | Junior Subordinated Debt [Member]
Federal Home Loan Bank, Advances [Line Items]
Debt instrument face amount		$ 10,000,000
Maturity date		Oct. 7, 2036
Description of LIBOR rate basis		3-month LIBOR
Interest rate during period				3.99%	4.81%
Metbank Capital Trust Two [Member] | Junior Subordinated Debt [Member] | London Interbank Offered Rate (LIBOR)
Federal Home Loan Bank, Advances [Line Items]
Basis spread on LIBOR variable rate		2.00%

INCOME TAXES (Schedule of Incom

INCOME TAXES (Schedule of Income tax expense) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Current
Federal									$ 9,222	$ 7,990
State and local									6,570	4,762
Total current									15,792	12,752
Deferred
Federal									(845)	(896)
State and local									(1,020)	(635)
Total deferred									(1,865)	(1,531)
Total income tax expense	$ 3,699	$ 3,571	$ 2,880	$ 3,777	$ 2,418	$ 3,348	$ 2,634	$ 2,822	$ 13,927	$ 11,221

INCOME TAXES (Schedule of Defer

INCOME TAXES (Schedule of Deferred tax assets and liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Allowance for loan losses	$ 8,303	$ 5,893
Interest on nonaccrual loans	24	28
Off balance sheet reserves	57	127
Restricted stock	188	167
Tangible asset	17	20
Non-qualified stock options	294	290
Net unrealized loss on securities available for sale		172
Other	51
Total gross deferred tax assets	8,934	6,697
Deferred tax liabilities:
Depreciation and amortization	781	392
Net unrealized gain on securities available for sale	604
Pass-through income	69	255
Prepaid assets	341
Total gross deferred tax liabilities	1,795	647
Net deferred tax asset, included in other assets	$ 7,139	$ 6,050

INCOME TAXES (Reconciliation of

INCOME TAXES (Reconciliation of statutory federal income tax rate) (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
INCOME TAXES
Pretax income at statutory, amount									$ 9,253	$ 7,723
Pretax income at statutory rates									21.00%	21.00%
State and local taxes, net of federal income tax benefit, amount									$ 4,385,000	$ 3,260,000
State and local taxes, net of federal income tax benefit, rate									9.95%	8.87%
Nondeductible expenses, amount									$ 430,000	$ 327,000
Nondeductible expenses, rate									0.97%	0.89%
Excess tax deduction on equity awards, amount									$ (132,000)	$ (83,000)
Excess tax deduction on equity awards, rate									(0.30%)	(0.23%)
Tax-exempt income, net amount									$ (2,000)	$ (6,000)
Tax-exempt income, net rate									0.00%	(0.02%)
Other, amount									$ (7,000)
Other, rate									(0.01%)
Effective income tax expense, amount	$ 3,699,000	$ 3,571,000	$ 2,880,000	$ 3,777,000	$ 2,418,000	$ 3,348,000	$ 2,634,000	$ 2,822,000	$ 13,927,000	$ 11,221,000
Effective income tax expense, rate									31.61%	30.51%

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
INCOME TAXES
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%
Unrecognized tax benefits	$ 0	$ 0

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2016
Executive Officer [Member] | Promissory Note [Member]
Debt Instrument [Line Items]
Face amount of note payable to related party			$ 780
Interest rate			2.125%
Description of LIBOR rate basis	5-year LIBOR rate in effect on the note date, plus 100 basis points
Basis spread on LIBOR variable rate	1.00%
Maturity date	Aug. 15, 2021
Outstanding balance of note payable to related party	$ 780	$ 780
Pasl Holding Llc [Member] | Principal Officers, Directors, And Their Affiliates [Member]
Debt Instrument [Line Items]
Deposits from related parties	$ 566	$ 1,900

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Future minimum rental payments required) (Details) $ in Thousands	Dec. 31, 2019USD ($)
COMMITMENTS AND CONTINGENCIES
2020	$ 4,403
2021	3,811
2022	3,741
2023	3,412
2024	3,370
Thereafter (and through 2035)	26,578
Total minimum lease payments	$ 45,315

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
COMMITMENTS AND CONTINGENCIES
Rental expense	$ 3.8	$ 2.7

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 240,888	$ 37,120
Amount of transfers of assets measured on a recurring basis out of Level 1 of the fair value hierarchy into Level 2	0	0
Amount of transfers of assets measured on a recurring basis out of Level 2 of the fair value hierarchy into Level 1	0	0
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets		0
Loans measured at fair value	242
Assets measured at fair value		0
Carrying Amount | Residential mortgage-backed securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	177,263	23,513
Carrying Amount | Commercial mortgage-backed securities issued by U.S. government sponsored entities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	32,472	5,849
Carrying Amount | U.S. Government agency securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	25,207
Carrying Amount | Municipal bonds | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value		1,077
Carrying Amount | CRA mutual fund | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	2,224	2,110
Fair Value, Inputs, Level 1 | CRA mutual fund | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	2,224	2,110
Fair Value, Inputs, Level 2 | Residential mortgage-backed securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	177,263	23,513
Fair Value, Inputs, Level 2 | Commercial mortgage-backed securities issued by U.S. government sponsored entities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	32,472	5,849
Fair Value, Inputs, Level 2 | U.S. Government agency securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 25,207
Fair Value, Inputs, Level 2 | Municipal bonds | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value		$ 1,077

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS (Carrying Amount and Estimated Fair Values of Financial Instruments) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Financial assets:
Debt securities available for sale	$ 234,942	$ 30,439
Securities held to maturity	3,712	4,403
Equity investments	2,224	2,110
Other investments
FRB Stock	7,300	7,300
FHLB Stock	8,100	9,500
Financial liabilities:
Noninterest-bearing demand deposits	1,090,479	798,563
Time deposits	110,375
Federal Home Loan Bank of New York advances	144,000	185,000
Carrying Amount
Financial assets:
Cash and due from banks	10,176	9,246
Overnight deposits	381,045	223,704
Debt securities available for sale	234,942	30,439
Securities held to maturity	3,722	4,571
Equity investments	2,224	2,110
Loans, net	2,646,677	1,846,274
Other investments
FRB Stock	7,317	7,250
FHLB Stock	8,122	9,537
SBA Loan Fund	5,000	5,000
Disability Fund	500
Certificates of deposit		500
Accrued interest receivable	8,862	5,507
Financial liabilities:
Noninterest-bearing demand deposits	1,090,479	798,563
Money market and savings deposits	1,589,920	764,990
Time deposits	110,375	97,001
Federal Home Loan Bank of New York advances	144,000	185,000
Trust preferred securities payable	20,620	20,620
Subordinated debt, net of issuance cost	24,601	24,545
Accrued interest payable	1,229	1,282
Total Fair Value
Financial assets:
Cash and due from banks	10,176	9,246
Overnight deposits	381,045	223,704
Debt securities available for sale	234,942	30,439
Securities held to maturity	3,712	4,403
Equity investments	2,224	2,110
Loans, net	2,609,233	1,796,462
Other investments
Disability Fund	500
Certificates of deposit		500
Accrued interest receivable	8,862	5,507
Financial liabilities:
Noninterest-bearing demand deposits	1,090,479	798,563
Money market and savings deposits	1,589,920	764,990
Time deposits	110,800	96,859
Federal Home Loan Bank of New York advances	144,229	184,999
Trust preferred securities payable	20,011	19,821
Subordinated debt, net of issuance cost	25,375	25,125
Accrued interest payable	1,229	1,282
Fair Value, Inputs, Level 1
Financial assets:
Cash and due from banks	10,176	9,246
Overnight deposits	381,045	223,704
Equity investments	2,224	2,110
Financial liabilities:
Noninterest-bearing demand deposits	1,090,479	798,563
Money market and savings deposits	1,589,920	764,990
Accrued interest payable	14	13
Fair Value, Inputs, Level 2
Financial assets:
Debt securities available for sale	234,942	30,439
Securities held to maturity	3,712	4,403
Other investments
Disability Fund	500
Certificates of deposit		500
Accrued interest receivable	544	127
Financial liabilities:
Time deposits	110,800	96,859
Federal Home Loan Bank of New York advances	144,229	184,999
Subordinated debt, net of issuance cost	25,375	25,125
Accrued interest payable	1,009	1,044
Fair Value, Inputs, Level 3
Financial assets:
Loans, net	2,609,233	1,796,462
Other investments
Accrued interest receivable	8,318	5,380
Financial liabilities:
Trust preferred securities payable	20,011	19,821
Accrued interest payable	$ 206	$ 225

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Class B Preferred Stock
Stockholders Equity Note [Line Items]
Preferred stock, par value	$ 0.01	$ 0.01

STOCK COMPENSATION PLAN (Summar

STOCK COMPENSATION PLAN (Summary of the Status of the Stock Option Plan) (Details)	12 Months Ended
	Dec. 31, 2019USD ($)$ / sharesshares
Number of Options
Outstanding, beginning of period | shares	231,000
Outstanding, end of period | shares	231,000
Options vested and exercisable at end of period | shares	231,000
Weighted Average Exercise Price
Outstanding, beginning of period | $ / shares	$ 18
Outstanding, end of period | $ / shares	18
Options vested and exercisable at end of period | $ / shares	$ 18
Aggregate intrinsic value of options outstanding at end of year | $	$ 6,983,130
Weighted average remaining contractual life (years)	4 years 4 months 17 days

STOCK COMPENSATION PLAN (Summ_2

STOCK COMPENSATION PLAN (Summary of Stock Options Outstanding) (Details)	12 Months Ended
	Dec. 31, 2019$ / sharesshares
$10 - 20
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Average Exercise Prices, Lower Limit	$ 10
Range of Average Exercise Prices, Upper Limit	$ 20
Number of Options Outstanding | shares	231,000
Weighted Average Remaining Contractual Life	4 years 4 months 17 days
Weighted Average Exercise Price	$ 18
Weighted Average Intrinsic Price	30.23
$21 - 30
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Average Exercise Prices, Lower Limit	21
Range of Average Exercise Prices, Upper Limit	30
$10 - 30
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Average Exercise Prices, Lower Limit	10
Range of Average Exercise Prices, Upper Limit	$ 30
Number of Options Outstanding | shares	231,000
Weighted Average Remaining Contractual Life	4 years 4 months 17 days
Weighted Average Exercise Price	$ 18
Weighted Average Intrinsic Price	$ 30.23

STOCK COMPENSATION PLAN (Summ_3

STOCK COMPENSATION PLAN (Summary of Non-Vested Restricted Stock Awards) (Details) - Restricted stock - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of shares, Outstanding, beginning of period	53,957	76,104
Number of shares, Granted	106,423	8,987
Number of shares, Forfeited	(1,561)
Number of shares, Vested	(53,981)	(31,134)
Number of shares, Outstanding at end of period	104,838	53,957
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted Average Grant Date fair Value, beginning of period	$ 21.46	$ 20.61
Weighted Average Grant Date fair Value, Granted	35.36	48.99
Weighted Average Grant Date fair Value, Forfeited	32.71
Weighted Average Grant Date fair Value, Vested	32.22	27.33
Weighted Average Grant Date fair Value, at end of period	$ 29.86	$ 21.46

STOCK COMPENSATION PLAN (Summ_4

STOCK COMPENSATION PLAN (Summary of Performance Based Stock Awards) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate share payout	90,000
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate share payout	12,000
Performance Restricted Share Units ("Prsus")
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period (in years)		3 years
Weighted average service inception date fair value of award shares	$ 4,064,295
Likely aggregate share payout	90,000
Compensation expense recognized	$ 1,430,011	$ 1,300

STOCK COMPENSATION PLAN (Detail

STOCK COMPENSATION PLAN (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	May 28, 2019	May 18, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding shares	231,000	231,000
Proceeds from exercise of stock options		$ 360,000
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise of stock options (in shares)	0	30,000,000
Intrinsic value of exercises		$ 227,910
Proceeds from exercise of stock options		360,000
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested stock options	$ 1,900,000
Compensation cost related to stock awards	$ 1,200,000	$ 445,156
Number of shares, Granted	106,423	8,987
Unrecognized compensation expense recognition period	2 years
Fair value of shares vested	$ 2,400,000	$ 1,300,000
Restricted stock | Non-employee directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost related to stock awards	$ 400,000
Number of shares, Granted	3,890,000
Service period (in years)	3 years
Vesting period	3 years
Restricted stock | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost related to stock awards	$ 351,500	$ 440,000
Number of shares issued	10,000	8,987
Performance Restricted Share Units ("Prsus")
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of PRSUs awarded		90,000
Directors' fees | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested stock options	$ 800,000
Unrecognized compensation expense recognition period	2 years
Equity Incentive Plan 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, shares authorized, maximum	341,562		340,000
Equity Incentive Plan 2019 | Stock Option | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of exercise price to the fair market value	100.00%
Equity Incentive Plan 2019 | Incentive stock options granted to any 10% stockholder | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of the exercise price to the fair market value of the shares covered by the stock option on the date of grant in the case of an ISO granted to 10% stockholder	110.00%
Equity Incentive Plan 2009
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, shares authorized, maximum	735,142
Outstanding shares			468,382	628,719
Non-vested stock compensation cost	$ 0	$ 0
Equity Incentive Plan 2009 | Equity Incentive Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, exercise period from the grant date	10 years
Equity Incentive Plan 2009 | Incentive stock options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, exercise period from the grant date	5 years

EMPLOYEE BENEFIT PLAN (Details)

EMPLOYEE BENEFIT PLAN (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
EMPLOYEE BENEFIT PLAN
Employer discretionary contribution amount	$ 499,000	$ 405,000

FINANCIAL INSTRUMENTS WITH OF_3

FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK (Outstanding following off-balance-sheet financial instruments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fixed Rate	$ 64,947	$ 42,088
Variable Rate	193,767	130,547
Undrawn lines of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fixed Rate	17,204	7,737
Variable Rate	193,767	130,547
Letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fixed Rate	47,743	34,351
Variable Rate	$ 0	$ 0

FINANCIAL INSTRUMENTS WITH OF_4

FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Amount of off-balance-sheet financial instruments	$ 64,947	$ 42,088
Minimum
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fixed interest rate off-balance-sheet financial instruments	3.00%	3.00%
Maximum
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fixed interest rate off-balance-sheet financial instruments	5.60%	5.60%
Commitments term	2 years
Letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Amount of off-balance-sheet financial instruments	$ 47,743	$ 34,351
Amount of off-balance-sheet financial instruments collateral received	$ 29,800	$ 23,000

REGULATORY CAPITAL (Summary of

REGULATORY CAPITAL (Summary of actual capital amounts and ratios) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total capital (to risk-weighted assets), Actual Amount	$ 350,403	$ 319,053
Total capital (to risk-weighted assets), Actual Ratio	12.50%	16.90%
Total capital (to risk-weighted assets), For Capital Adequacy Amount	$ 223,973
Total capital (to risk-weighted assets), For Capital Adequacy Ratio	8.00%
Tier 1 common equity (to risk-weighted assets), Actual Amount	$ 282,646	$ 249,655
Tier 1 common equity (to risk-weighted assets), Actual Ratio	10.10%	13.20%
Tier 1 common equity (to risk-weighted assets), For Capital Adequacy Amount	$ 125,985
Tier 1 common equity (to risk-weighted assets), For Capital Adequacy Ratio	4.50%
Tier 1 capital (to risk-weighted assets), Actual Amount	$ 308,769	$ 275,158
Tier 1 capital (to risk-weighted assets), Actual Ratio	11.00%	14.60%
Tier 1 capital (to risk-weighted assets), For Capital Adequacy Amount	$ 167,980
Tier 1 capital (to risk-weighted assets), For Capital Adequacy Ratio	6.00%
Tier 1 capital (to average assets), Actual Amount	$ 308,769	$ 275,158
Tier 1 capital (to average assets), Actual Ratio	9.40%	13.70%
Tier 1 capital (to average assets), For Capital Adequacy Amount	$ 131,087
Tier 1 capital (to average assets), For Capital Adequacy Ratio	4.00%
Total capital (to risk-weighted assets), Minimum for Capital Adequacy plus Capital Conservation Buffer Amount		$ 151,053
Total capital (to risk-weighted assets), Minimum for Capital Adequacy plus Capital Conservation Buffer Ratio		8.00%
Tier 1 common equity (to risk-weighted assets), Minimum for Capital Adequacy plus Capital Conservation Buffer Amount		$ 84,968
Tier 1 common equity (to risk-weighted assets), Minimum for Capital Adequacy plus Capital Conservation Buffer Ratio		4.50%
Tier 1 capital (to risk-weighted assets), Minimum for Capital Adequacy plus Capital Conservation Buffer Amount		$ 113,290
Tier 1 capital (to risk-weighted assets), Minimum for Capital Adequacy plus Capital Conservation Buffer Ratio		6.00%
Tier 1 capital (to average assets), Minimum for Capital Adequacy plus Capital Conservation Buffer Amount		$ 80,244
Tier 1 capital (to average assets), Minimum for Capital Adequacy plus Capital Conservation Buffer Ratio		4.00%
Metropolitan Commercial Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total capital (to risk-weighted assets), Actual Amount	$ 356,353	$ 314,226
Total capital (to risk-weighted assets), Actual Ratio	12.70%	16.70%
Total capital (to risk-weighted assets), For Capital Adequacy Amount	$ 223,858	$ 150,900
Total capital (to risk-weighted assets), For Capital Adequacy Ratio	8.00%	8.00%
Total capital (to risk-weighted assets), To be Well Capitalized under Prompt Corrective Action Regulations Amount	$ 279,823	$ 188,625
Total capital (to risk-weighted assets), To be Well Capitalized under Prompt Corrective Action Regulations Ratio	10.00%	10.00%
Tier 1 common equity (to risk-weighted assets), Actual Amount	$ 329,905	$ 294,880
Tier 1 common equity (to risk-weighted assets), Actual Ratio	11.80%	15.60%
Tier 1 common equity (to risk-weighted assets), For Capital Adequacy Amount	$ 125,920	$ 84,881
Tier 1 common equity (to risk-weighted assets), For Capital Adequacy Ratio	4.50%	4.50%
Tier 1 common equity (to risk-weighted assets), To be Well Capitalized under Prompt Corrective Action Regulations Amount	$ 181,885	$ 122,606
Tier 1 common equity (to risk-weighted assets), To be Well Capitalized under Prompt Corrective Action Regulations Ratio	6.50%	6.50%
Tier 1 capital (to risk-weighted assets), Actual Amount	$ 329,905	$ 294,880
Tier 1 capital (to risk-weighted assets), Actual Ratio	11.80%	15.60%
Tier 1 capital (to risk-weighted assets), For Capital Adequacy Amount	$ 167,894	$ 113,175
Tier 1 capital (to risk-weighted assets), For Capital Adequacy Ratio	6.00%	6.00%
Tier 1 capital (to risk-weighted assets), To be Well Capitalized under Prompt Corrective Action Regulations Amount	$ 223,858	$ 150,900
Tier 1 capital (to risk-weighted assets), To be Well Capitalized under Prompt Corrective Action Regulations Ratio	8.00%	8.00%
Tier 1 capital (to average assets), Actual Amount	$ 329,905	$ 294,880
Tier 1 capital (to average assets), Actual Ratio	10.10%	14.70%
Tier 1 capital (to average assets), For Capital Adequacy Amount	$ 131,000	$ 80,050
Tier 1 capital (to average assets), For Capital Adequacy Ratio	4.00%	4.00%
Tier 1 capital (to average assets), To be Well Capitalized under Prompt Corrective Action Regulations Amount	$ 163,750	$ 100,063
Tier 1 capital (to average assets), To be Well Capitalized under Prompt Corrective Action Regulations Ratio	5.00%	5.00%

EARNINGS PER COMMON SHARE (Comp

EARNINGS PER COMMON SHARE (Computation of Basic and Diluted Earnings per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Basic
Net income per consolidated statements of income	$ 7,863	$ 7,683	$ 6,057	$ 8,531	$ 6,285	$ 7,113	$ 5,865	$ 6,291	$ 30,134	$ 25,554
Less: Earnings allocated to participating securities									(448)	(168)
Net income available to common stockholder									$ 29,686	$ 25,386
Weighted average common shares outstanding including participating securities									8,297,478	8,200,705
Less: Weighted average participating securities									(123,336)	(67,152)
Weighted average common shares outstanding									8,174,142	8,133,553
Basic earnings per common share (in dollars per share)	$ 0.95	$ 0.92	$ 0.73	$ 1.03	$ 0.77	$ 0.87	$ 0.72	$ 0.77	$ 3.63	$ 3.12
Diluted
Net income allocated to common shareholders									$ 29,686	$ 25,386
Weighted average common shares outstanding for basic earnings per common share									8,174,142	8,133,553
Average shares and dilutive potential common shares									8,339,141	8,288,524
Diluted earnings per common share (in dollars per share)	$ 0.93	$ 0.90	$ 0.71	$ 1.01	$ 0.75	$ 0.85	$ 0.70	$ 0.75	$ 3.56	$ 3.06
Stock Option
Diluted
Dilutive effects of assumed exercise of stock options/vesting of performance based restricted stock									125,085	137,089
Restricted stock
Diluted
Dilutive effects of assumed exercise of stock options/vesting of performance based restricted stock									39,914	17,882

EARNINGS PER COMMON SHARE (Deta

EARNINGS PER COMMON SHARE (Details) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
EARNINGS PER COMMON SHARE
Number of antidilutive shares not considered in computing diluted earnings per share	0	0

PARENT COMPANY FINANCIAL INFO_3

PARENT COMPANY FINANCIAL INFORMATION (Condensed Balance Sheets) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Assets
Cash and due from banks	$ 10,176	$ 9,246
Loans, net of allowance for loan losses	2,646,677	1,846,274
Total assets	3,357,572	2,182,644
Liabilities and Stockholders’ Equity
Trust preferred securities payable	20,620	20,620
Subordinated debt payable, net of issuance costs	24,601	24,545
Other liabilities	10,696	7,687
Total liabilities	3,058,448	1,918,127
Stockholders' equity:
Common stock	82	82
Surplus	216,468	213,490
Retained earnings	81,364	51,415
Accumulated other comprehensive loss, net of tax effect	1,207	(473)
Total equity	299,124	264,517	$ 236,884
Total liabilities and stockholders’ equity	3,357,572	2,182,644
Parent Company
Assets
Cash and due from banks	1,836	3,547
Loans, net of allowance for loan losses	776	776
Investments	620	620
Investment in subsidiary bank, at equity	340,733	304,141
Other assets	1,106	1,380
Total assets	345,071	310,464
Liabilities and Stockholders’ Equity
Trust preferred securities payable	20,620	20,620
Subordinated debt payable, net of issuance costs	24,601	24,545
Other liabilities	726	782
Total liabilities	45,947	45,947
Stockholders' equity:
Preferred stock	3	3
Common stock	82	82
Surplus	216,468	213,490
Retained earnings	81,364	51,415
Accumulated other comprehensive loss, net of tax effect	1,207	(473)
Total equity	299,124	264,517
Total liabilities and stockholders’ equity	$ 345,071	$ 310,464

PARENT COMPANY FINANCIAL INFO_4

PARENT COMPANY FINANCIAL INFORMATION (Condensed Statements of Income) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Income:
Loans									$ 117,124	$ 77,342
Securities and money market funds									159	135
Total interest income	$ 36,466	$ 35,496	$ 30,828	$ 26,990	$ 23,342	$ 21,907	$ 19,998	$ 18,693	129,780	83,945
Interest expense:
Trust preferred securities payable									899	846
Subordinated debt interest expense									1,620	1,619
Total interest expense	8,424	9,443	7,891	6,412	4,381	3,556	2,603	2,177	32,170	12,717
Net interest expense	28,042	26,053	22,937	20,578	18,961	18,351	17,395	16,516	97,610	71,228
Provision for loan losses	2,300	2,004	1,950	(2,031)	844	(453)	1,270	1,477	4,223	3,138
Net interest income after provision for loan losses	25,742	24,049	20,987	22,609	18,117	18,804	16,125	15,039	93,387	68,090
Other expense									7,764	5,841
Income before income tax expense	11,562	11,254	8,937	12,308	8,703	10,461	8,499	9,113	44,061	36,775
Income tax benefit	3,699	3,571	2,880	3,777	2,418	3,348	2,634	2,822	13,927	11,221
Net income	$ 7,863	$ 7,683	$ 6,057	$ 8,531	$ 6,285	$ 7,113	$ 5,865	$ 6,291	30,134	25,554
Comprehensive income									31,746	25,287
Parent Company
Income:
Loans									17	17
Securities and money market funds									27
Total interest income									44	17
Interest expense:
Trust preferred securities payable									908	846
Subordinated debt interest expense									1,618	1,619
Total interest expense									2,526	2,465
Net interest expense									(2,482)	(2,448)
Net interest income after provision for loan losses									(2,482)	(2,448)
Other expense									3,865	1,275
Loss before undistributed earnings of subsidiary bank									(6,347)	(3,723)
Equity in undistributed earnings of subsidiary bank									35,209	28,094
Income before income tax expense									28,862	24,371
Income tax benefit									1,272	1,183
Net income									30,134	25,554
Comprehensive income									$ 31,746	$ 25,287

PARENT COMPANY FINANCIAL INFO_5

PARENT COMPANY FINANCIAL INFORMATION (Condensed Statement of Cash Flows) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Cash Flows From Operating Activities:
Net income	$ 7,863	$ 7,683	$ 6,057	$ 8,531	$ 6,285	$ 7,113	$ 5,865	$ 6,291	$ 30,134	$ 25,554
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Stock based compensation expense									3,067	2,151
Net cash used in operating activities									40,957	27,060
Cash Flows From Financing Activities:
Net cash used in investing activities									(1,014,789)	(454,570)
Cash flows from financing activities:
Redemption of common stock for tax withholdings for restricted stock vesting									(89)	(132)
Proceeds from exercise of stock options										360
Net cash provided by financing activities									1,132,103	399,229
Net (decrease) increase in cash and cash equivalents									158,271	(28,281)
Cash and cash equivalents at the beginning of the period				232,950					232,950
Cash and cash equivalents at the end of the period	391,221				232,950				391,221	232,950
Parent Company
Cash Flows From Operating Activities:
Net income									30,134	25,554
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Undistributed earnings of subsidiary bank									(35,209)	(28,094)
Non-employee stock based compensation									400	440
Amortization of trust preferred issuance costs									56	56
Stock based compensation expense									2,667	1,711
Decrease (increase) in other assets									274	(2,910)
Increase (decrease) in other liabilities									56	(167)
Net cash used in operating activities									(1,622)	(3,410)
Cash flows from financing activities:
Proceeds from issuance of common stock, net										(33)
Redemption of common stock for tax withholdings for restricted stock vesting									(89)	(131)
Proceeds from exercise of stock options										360
Net cash provided by financing activities									(89)	196
Net (decrease) increase in cash and cash equivalents									(1,711)	(3,214)
Cash and cash equivalents at the beginning of the period				$ 3,547				$ 6,761	3,547	6,761
Cash and cash equivalents at the end of the period	$ 1,836				$ 3,547				$ 1,836	$ 3,547

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Schedule of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ (473)
Beginning balance, as adjusted	1,207	$ (473)	$ 1,207	$ (473)
Net current period other comprehensive loss	1,612	(267)
Ending balance	1,207	(473)
AOCI (Loss), Net
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(473)	(206)
Beginning balance, as adjusted	1,207	(473)	1,207	(473)
Total unrealized gains/loss on securities available for sale, net of taxes	1,612	(293)
Amount reclassified from accumulated other comprehensive income		26
Net current period other comprehensive loss	1,612	(267)
Ending balance	1,207	(473)
AOCI (Loss), Net | ASU 2016-01
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(206)
Cumulative effect of adopting new accounting standard ASU 2016-01, net of taxes			68	(68)
Beginning balance, as adjusted	(405)	(206)	$ (405)	$ (206)
Ending balance	$ (405)	$ (206)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Proceeds from sales and calls of securities and associated gains and losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Proceeds from calls of securities available for sale	$ 1,065	$ 1,463
Gain or loss associated with the call of securities	$ 0

ACCUMULATED OTHER COMPREHENSI_5

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Reclassifications Out of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax expense	$ (3,699)	$ (3,571)	$ (2,880)	$ (3,777)	$ (2,418)	$ (3,348)	$ (2,634)	$ (2,822)	$ (13,927)	$ (11,221)
Reclassifications out of accumulated other comprehensive (loss) income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Realized gain on sale of available for sale securities										(37)
Income tax expense										11
Total reclassifications, net of income tax										$ (26)

UNAUDITED QUARTERLY FINANCIAL_3

UNAUDITED QUARTERLY FINANCIAL DATA (Selected Consolidated Quarterly Financial Data) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information (Unaudited)
Interest income	$ 36,466	$ 35,496	$ 30,828	$ 26,990	$ 23,342	$ 21,907	$ 19,998	$ 18,693	$ 129,780	$ 83,945
Interest expense	8,424	9,443	7,891	6,412	4,381	3,556	2,603	2,177	32,170	12,717
Net interest income	28,042	26,053	22,937	20,578	18,961	18,351	17,395	16,516	97,610	71,228
Provision for loan losses	2,300	2,004	1,950	(2,031)	844	(453)	1,270	1,477	4,223	3,138
Net interest income after provision for loan losses	25,742	24,049	20,987	22,609	18,117	18,804	16,125	15,039	93,387	68,090
Non-interest income	2,862	2,700	2,674	2,393	2,188	2,012	2,649	5,312
Non-interest expense	17,042	15,495	14,724	12,694	11,602	10,355	10,275	11,238	59,955	43,471
Income before income taxes	11,562	11,254	8,937	12,308	8,703	10,461	8,499	9,113	44,061	36,775
Income tax expense	3,699	3,571	2,880	3,777	2,418	3,348	2,634	2,822	13,927	11,221
Net income	$ 7,863	$ 7,683	$ 6,057	$ 8,531	$ 6,285	$ 7,113	$ 5,865	$ 6,291	$ 30,134	$ 25,554
Basic earnings per common share (in dollars per share)	$ 0.95	$ 0.92	$ 0.73	$ 1.03	$ 0.77	$ 0.87	$ 0.72	$ 0.77	$ 3.63	$ 3.12
Diluted earnings per common share (in dollars per share)	$ 0.93	$ 0.90	$ 0.71	$ 1.01	$ 0.75	$ 0.85	$ 0.70	$ 0.75	$ 3.56	$ 3.06

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS (Schedule of non-interest income) (Details) - USD ($)	Jan. 01, 2019	Dec. 31, 2019	Dec. 31, 2018
Total non-interest income		$ 10,565,000	$ 12,193,000
ASU 2014-09 | Restatement Adjustment
Adjustment to opening retained earnings	$ 117,000
Service charges on deposit accounts
Non-interest income		3,556,000	4,248,000
Prepaid third-party debit card incomes
Non-interest income		5,643,000	4,640,000
Other service charges and fees
Non-interest income		$ 1,366,000	$ 3,305,000