Metro Bancorp, Inc. (Metro or the Company) (NASDAQ Global Select Market Symbol: METR), parent company of Metro Bank, today reported record quarterly net income of $4.0 million, or $0.28 per common share, for the quarter ended June 30, 2013, compared to net income of $2.8 million, or $0.19 per common share for the second quarter of 2012. The Company also reported net loan growth of $139.2 million, or 9%, and an increase in total deposits of $82.9 million, or 4%, over the past twelve months.
|(in millions, except per share data)|
|Quarter Ended||Six Months Ended|
|Total loans (net)||1,605.8||1,466.6||9||%|
|Diluted net income per common share||$||0.28||$||0.19||47||%||$||0.54||$||0.38||42||%|
“Our momentum continues to grow and our record quarterly net income of $4.0 million reflects the progress we are making with increasing revenues and remaining disciplined with our expense management. We are very proud of our 9% growth in net loans in this current economic environment,” said Gary L. Nalbandian, the Company's Chairman and Chief Executive Officer.