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 $4.7 million, or $0.33 per common share, for the quarter ended September 30, 2013, compared to net income of $2.0 million, or $0.14 per common share for the third quarter of 2012. The Company also reported net loan growth of $195.9 million, or 13%, over the past twelve months.
|(in millions, except per share data)|
|Quarter Ended||Nine Months Ended|
|Total loans (net)||1,675.3||1,479.4||13||%|
|Diluted net income per common share||$||0.33||$||0.14||136||%||$||0.86||$||0.52||65||%|
“We are very pleased with our record quarterly net income of $4.7 million which reflects our continued progress with increasing revenues and disciplined expense management. Our double digit growth in net loans of 13% demonstrates our ability to successfully grow our loan portfolio in this challenging economic environment. This performance shows our continued commitment to creating long-term shareholder value,” said Gary L. Nalbandian, the Company's Chairman and Chief Executive Officer.