This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Metro Bancorp Reports Fourth Quarter Net Income Of $1.5 Million; Total Revenues Up 13%

Metro Bancorp, Inc. (NASDAQ Global Select Market Symbol: METR), parent company of Metro Bank, today reported net income of $1.5 million, or $0.10 per share for the quarter ended December 31, 2010, compared to a net loss of $890,000, or $(0.07) per share, for the fourth quarter 2009. Total revenues for the fourth quarter of 2010 increased 13% over the same period of 2009. The Company also reported a decrease of $3.4 million, or 5%, in nonperforming assets from the previous quarter end.

Fourth Quarter Financial Highlights

(in millions, except per share data)

Quarter Ended

Year Ended



% Change



% Change
Total assets $ 2,234.5 $ 2,147.8 4 %
Total deposits 1,832.2 1,814.7 1 %
Total loans (net) 1,357.6 1,429.4 (5 )%
Total revenues $ 29.0 $ 25.8 13 % $ 109.2 $ 100.1 9 %
Net income (loss) 1.5 (0.9 ) (4.3 ) (1.9 )
Diluted net income (loss) per share   $ 0.10   $ (0.07 )       $ (0.33 )   $ (0.24 )    

Chairman’s Statement

Commenting on the Company’s financial results, Chairman Gary L. Nalbandian stated “we are pleased with our increased revenues and our improvement in net income over the results we recorded in the past several quarters. We are also encouraged by the continued stabilization in the asset quality of our loan portfolio as evidenced by a decrease in nonperforming assets for the second consecutive quarter.”

1 of 13

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,084.49 +33.74 0.20%
S&P 500 2,013.43 +15.91 0.80%
NASDAQ 4,830.47 +19.6820 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs