2024 Q1 Form 10-K Financial Statement

#000155837024001997 Filed on February 28, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $7.027M $27.88M
YoY Change 1.14% 3.83%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $3.011M $4.940M
YoY Change 129.32% 4.82%
% of Gross Profit
Depreciation & Amortization $828.0K $2.600M
YoY Change -250.82% 4.0%
% of Gross Profit
Operating Expenses $3.011M $4.940M
YoY Change 129.32% 4.82%
Operating Profit
YoY Change
Interest Expense $52.63M $152.6M
YoY Change 112.81% 383.1%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $24.29M $19.87M $106.9M
YoY Change -28.23% 1450.9% 10.34%
Income Tax $8.082M $5.299M $29.65M
% Of Pretax Income 33.28% 26.67% 27.73%
Net Earnings $16.20M $14.49M $76.90M
YoY Change -35.38% -287.21% 29.41%
Net Earnings / Revenue 230.58% 275.84%
Basic Earnings Per Share $1.46 $6.95
Diluted Earnings Per Share $1.46 $1.28 $6.91
COMMON SHARES
Basic Shares Outstanding 11.09M 11.06M 11.06M
Diluted Shares Outstanding 11.13M 11.13M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $534.4M $269.5M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $35.07M $77.31M
YoY Change 10.03% 142.59%
Goodwill $9.700M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $38.13M
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $7.453B $7.068B $7.068B
YoY Change 18.12% 12.77% 12.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $46.43M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $100.0M $99.00M $99.00M
YoY Change -48.72% -34.0% -34.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $100.0M $99.00M $99.00M
YoY Change -48.72% -34.0% -34.0%
LONG-TERM LIABILITIES
Long-Term Debt $28.17M $28.21M $28.21M
YoY Change -0.49% -0.49% -0.49%
Other Long-Term Liabilities $95.43M $93.98M $93.98M
YoY Change -29.77% -24.58% -24.58%
Total Long-Term Liabilities $123.6M $122.2M $122.2M
YoY Change -24.73% -20.12% -20.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $100.0M $99.00M $99.00M
Total Long-Term Liabilities $123.6M $122.2M $122.2M
Total Liabilities $6.780B $6.409B $6.409B
YoY Change 18.9% 12.6% 12.6%
SHAREHOLDERS EQUITY
Retained Earnings $332.2M $316.0M
YoY Change 25.93% 31.21%
Common Stock $112.0K $111.0K
YoY Change 0.0% 1.83%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $673.5M $659.0M $659.0M
YoY Change
Total Liabilities & Shareholders Equity $7.453B $7.068B $7.068B
YoY Change 18.12% 12.77% 12.77%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $16.20M $14.49M $76.90M
YoY Change -35.38% -287.21% 29.41%
Depreciation, Depletion And Amortization $828.0K $2.600M
YoY Change -250.82% 4.0%
Cash From Operating Activities $25.00M -$30.75M $42.43M
YoY Change -35.95% -367.53% -50.6%
INVESTING ACTIVITIES
Capital Expenditures $111.0K $838.0K $5.749M
YoY Change -88.67% -272.78% -70.13%
Acquisitions
YoY Change
Other Investing Activities -$116.7M -$276.0M -$769.7M
YoY Change -4642.82% 14.82% -36.39%
Cash From Investing Activities -$116.8M -$276.8M -$775.4M
YoY Change -7451.54% 15.4% -36.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 356.8M 399.7M 745.1M
YoY Change 24202.32% -279.25% -177.74%
NET CHANGE
Cash From Operating Activities 25.00M -30.75M 42.43M
Cash From Investing Activities -116.8M -276.8M -775.4M
Cash From Financing Activities 356.8M 399.7M 745.1M
Net Change In Cash 264.9M 92.10M 12.05M
YoY Change 529.53% -120.4% -100.57%
FREE CASH FLOW
Cash From Operating Activities $25.00M -$30.75M $42.43M
Capital Expenditures $111.0K $838.0K $5.749M
Free Cash Flow $24.89M -$31.59M $36.68M
YoY Change -34.6% -363.69% -44.97%

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ReceivableFromGlobalPaymentsNet
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CY2022 mcb Receivable From Global Payments Net
ReceivableFromGlobalPaymentsNet
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CY2021 mcb Receivable From Global Payments Net
ReceivableFromGlobalPaymentsNet
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CY2023 mcb Increase Decrease In Debit Card Receivables
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CY2022 mcb Increase Decrease In Debit Card Receivables
IncreaseDecreaseInDebitCardReceivables
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CY2021 mcb Increase Decrease In Debit Card Receivables
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CY2022 us-gaap Increase Decrease In Other Operating Assets
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CY2022 us-gaap Increase Decrease In Other Operating Liabilities
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CY2021 us-gaap Increase Decrease In Other Operating Liabilities
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022 us-gaap Payments To Acquire Loans And Leases Held For Investment
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CY2021 us-gaap Proceeds From Sale Of Other Investments
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PaymentsToAcquireOtherInvestments
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CY2022 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
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CY2021 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
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CY2022 us-gaap Payments To Acquire Available For Sale Securities Debt
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CY2022 us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
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CY2022 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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CY2021 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
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CY2021 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
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CY2021 us-gaap Payments For Proceeds From Productive Assets
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Proceeds From Federal Home Loan Bank Advances
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CY2022 mcb Redemption Of Common Stock For Tax Withholdings For Restricted Stock Vesting
RedemptionOfCommonStockForTaxWithholdingsForRestrictedStockVesting
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CY2021 mcb Redemption Of Common Stock For Tax Withholdings For Restricted Stock Vesting
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CY2022 us-gaap Proceeds From Repayments Of Secured Debt
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CY2023 us-gaap Increase Decrease In Deposits
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CY2022 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
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CY2021 us-gaap Increase Decrease In Deposits
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023 us-gaap Interest Paid Net
InterestPaidNet
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InterestPaidNet
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CY2021 us-gaap Interest Paid Net
InterestPaidNet
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CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
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CY2021 us-gaap Income Taxes Paid
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CY2021 mcb Transfer Of Loans Non Cash
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CY2023 us-gaap Nature Of Operations
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">NOTE 1 — ORGANIZATION</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">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 Company’s primary market is the New York metropolitan area. The Company provides a broad range of business, commercial and retail banking products and services to small businesses, middle-market enterprises, public entities and affluent individuals. See the “GLOSSARY OF COMMON TERMS AND ACRONYMS” for the definition of certain terms and acronyms used throughout this Form 10-K.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Company’s primary lending products are CRE loans (including multi-family loans) and C&amp;I 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.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Company’s primary deposit products are checking, savings, and term deposit accounts, all of which are insured by the FDIC up to the maximum amounts allowed by law. In addition to traditional commercial banking products, the Company offers corporate cash management and retail banking services, and through GPG (“global payments business”), provides services to non-bank financial service companies, including serving as an issuing bank for third-party debit card programs, while also providing such companies with other financial infrastructure components, including cash settlement and custodian deposit services. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Company and the Bank are subject to the regulations of certain state and federal agencies and, accordingly, are periodically examined by those regulatory authorities. The Company’s business is affected by state and federal legislation and regulations.</p>
CY2023Q4 us-gaap Goodwill
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CY2023 us-gaap Use Of Estimates
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">In preparing the financial statements in conformity with GAAP, management has made estimates and assumptions based on available information. These estimates and assumptions 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. Actual results could differ from those estimated. Information available that could affect these judgements include, but are not limited to, changes in interest rates, changes in the performance of the economy, and changes in the financial condition of borrowers. </p>
CY2023Q4 mcb Bankruptcy Trustee Funds
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CY2022Q4 mcb Bankruptcy Trustee Funds
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CY2023 us-gaap Concentration Risk Credit Risk
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Concentrations of Credit Risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Financial instruments, which potentially subject the Company 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.</p>
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CY2022Q4 mcb Disability Opportunity Fund Stock
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CY2022Q4 us-gaap Escrow Deposit
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CY2023Q4 mcb Cash Pledged As Collateral
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CY2022Q4 mcb Cash Pledged As Collateral
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CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
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CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
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CY2023 us-gaap Prior Period Reclassification Adjustment Description
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Reclassifications</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">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.</p>
CY2023 us-gaap Number Of Operating Segments
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CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
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CY2023Q4 us-gaap Held To Maturity Securities Debt Maturities After Five Through Ten Years Net Carrying Amount
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534665000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
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445747000
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FinancialInstrumentsSecuritiesOwnedAndPledgedAtFairValue
845700000
CY2022Q4 mcb Financial Instruments Securities Owned And Pledged At Fair Value
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CY2023Q4 mcb Securities Of One Issuer
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CY2023Q4 mcb Financing Receivable Excluding Accrued Interest Before Allowance For Credit Losses And Loan Before Fee Gross
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossesAndLoanBeforeFeeGross
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CY2022Q4 mcb Financing Receivable Excluding Accrued Interest Before Allowance For Credit Losses And Loan Before Fee Gross
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossesAndLoanBeforeFeeGross
4853495000
CY2023Q4 mcb Financing Receivable Excluding Accrued Interest Deferred Fees Net Of Origination Cost Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestDeferredFeesNetOfOriginationCostBeforeAllowanceForCreditLoss
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CY2022Q4 mcb Financing Receivable Excluding Accrued Interest Deferred Fees Net Of Origination Cost Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestDeferredFeesNetOfOriginationCostBeforeAllowanceForCreditLoss
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CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
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CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
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CY2023Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
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CY2022Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
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CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
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CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
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CY2022Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
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CY2023 us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
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CY2023 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
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CY2021Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
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CY2022 us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
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CY2023 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
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CY2023Q4 mcb Financing Receivable Allowance For Credit Losses Collectively Assessed For Impairment
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CY2023Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
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CY2023Q4 mcb Financing Receivable Individually Assessed For Impairment
FinancingReceivableIndividuallyAssessedForImpairment
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CY2023Q4 mcb Financing Receivable Collectively Assessed For Impairment
FinancingReceivableCollectivelyAssessedForImpairment
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CY2023Q4 mcb Financing Receivable Excluding Accrued Interest Before Allowance For Credit Losses And Loan Before Fee Gross
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossesAndLoanBeforeFeeGross
5642012000
CY2022Q4 mcb Financing Receivable Allowance For Credit Losses Individually Assessed For Impairment
FinancingReceivableAllowanceForCreditLossesIndividuallyAssessedForImpairment
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CY2022Q4 mcb Financing Receivable Allowance For Credit Losses Collectively Assessed For Impairment
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CY2022Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
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CY2022Q4 mcb Financing Receivable Individually Assessed For Impairment
FinancingReceivableIndividuallyAssessedForImpairment
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CY2022Q4 mcb Financing Receivable Collectively Assessed For Impairment
FinancingReceivableCollectivelyAssessedForImpairment
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CY2022Q4 mcb Financing Receivable Excluding Accrued Interest Before Allowance For Credit Losses And Loan Before Fee Gross
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossesAndLoanBeforeFeeGross
4853495000
CY2023Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
51897000
CY2023Q4 us-gaap Financing Receivable Nonaccrual No Allowance
FinancingReceivableNonaccrualNoAllowance
30934000
CY2022Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
24000
CY2023Q4 mcb Financing Receivable Excluding Accrued Interest Before Allowance For Credit Losses And Loan Before Fee Gross
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossesAndLoanBeforeFeeGross
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CY2022Q4 mcb Financing Receivable Excluding Accrued Interest Before Allowance For Credit Losses And Loan Before Fee Gross
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossesAndLoanBeforeFeeGross
4853495000
CY2023 mcb Financing Receivable Excluding Accrued Interest Modifications Number Of Contracts
FinancingReceivableExcludingAccruedInterestModificationsNumberOfContracts
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CY2022Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
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CY2022Q4 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
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CY2022Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
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CY2022 us-gaap Impaired Financing Receivable With No Related Allowance Average Recorded Investment
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CY2022 us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Cash Basis Method
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CY2021Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
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CY2021Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
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CY2021 us-gaap Impaired Financing Receivable With Related Allowance Average Recorded Investment
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CY2021 us-gaap Impaired Financing Receivable With Related Allowance Interest Income Cash Basis Method
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CY2021Q4 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
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CY2021Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
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CY2021 us-gaap Impaired Financing Receivable With No Related Allowance Average Recorded Investment
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CY2021 us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Cash Basis Method
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351000
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CY2022Q4 us-gaap Operating Lease Right Of Use Asset
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CY2023Q4 us-gaap Operating Lease Liability
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CY2022Q4 us-gaap Operating Lease Liability
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CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P10Y6M
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P11Y2M12D
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CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2022 us-gaap Operating Lease Cost
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CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
4864000
CY2023 mcb Operating Lease Liabilities Obtained
OperatingLeaseLiabilitiesObtained
2036000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5012000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5202000
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5257000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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4976000
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4990000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4899000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
5008000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
27953000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
30276000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
52881000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
55084000
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6451000
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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6720000
CY2023Q4 us-gaap Operating Lease Liability
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CY2022Q4 us-gaap Operating Lease Liability
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19225000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2022Q4 us-gaap Property Plant And Equipment Net
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CY2021 us-gaap Depreciation Depletion And Amortization
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CY2022Q4 us-gaap Noninterest Bearing Deposit Liabilities
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CY2023Q4 us-gaap Deposits Money Market Deposits
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CY2022Q4 us-gaap Deposits Money Market Deposits
DepositsMoneyMarketDeposits
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CY2023Q4 us-gaap Deposits Savings Deposits
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CY2022Q4 us-gaap Deposits Savings Deposits
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CY2023Q4 us-gaap Time Deposits
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CY2022Q4 us-gaap Time Deposits
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CY2023Q4 us-gaap Deposits
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CY2022Q4 us-gaap Deposits
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CY2023Q4 us-gaap Time Deposits At Or Above Fdic Insurance Limit
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CY2022Q4 us-gaap Time Deposits At Or Above Fdic Insurance Limit
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CY2023Q4 us-gaap Time Deposit Maturities Year Four
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CY2023Q4 us-gaap Time Deposits
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CY2022 mcb Interest Expense Federal Home Loan Bank Advance
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CY2023Q4 us-gaap Debt Weighted Average Interest Rate
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CY2022Q4 us-gaap Debt Weighted Average Interest Rate
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CY2023Q4 us-gaap Securities Sold Under Agreements To Repurchase
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CY2023Q4 us-gaap Federal Home Loan Bank Advances General Debt Obligations Disclosures Maximum Amount Available
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3100000000
CY2023 us-gaap Current Federal Tax Expense Benefit
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CY2022 us-gaap Current Federal Tax Expense Benefit
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CY2021 us-gaap Current Federal Tax Expense Benefit
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CY2022 us-gaap Current State And Local Tax Expense Benefit
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CY2021 us-gaap Current State And Local Tax Expense Benefit
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CY2023 us-gaap Current Income Tax Expense Benefit
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CY2022 us-gaap Current Income Tax Expense Benefit
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CY2021 us-gaap Current Income Tax Expense Benefit
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CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2023 us-gaap Deferred Income Tax Expense Benefit
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CY2021 us-gaap Deferred Income Tax Expense Benefit
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CY2023 us-gaap Income Tax Expense Benefit
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CY2022 us-gaap Income Tax Expense Benefit
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CY2021 us-gaap Income Tax Expense Benefit
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CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Provision For Loan Losses
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CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Provision For Loan Losses
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CY2023Q4 mcb Deferred Tax Assets Lease Liabilities
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13793000
CY2022Q4 mcb Deferred Tax Assets Lease Liabilities
DeferredTaxAssetsLeaseLiabilities
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CY2023Q4 us-gaap Deferred Tax Assets Unrealized Losses On Availablefor Sale Securities Gross
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CY2022Q4 us-gaap Deferred Tax Assets Unrealized Losses On Availablefor Sale Securities Gross
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CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
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CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReserves
55000
CY2023Q4 mcb Deferred Tax Assets Restricted Stock
DeferredTaxAssetsRestrictedStock
1666000
CY2022Q4 mcb Deferred Tax Assets Restricted Stock
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CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
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CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
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CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
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CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
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CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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IncomeTaxReconciliationNondeductibleExpense
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CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
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IncomeTaxReconciliationNondeductibleExpense
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CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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CY2023 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Exempt Income
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CY2022 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
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EffectiveIncomeTaxRateReconciliationTaxExemptIncome
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IncomeTaxReconciliationTaxExemptIncome
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IncomeTaxReconciliationOtherAdjustments
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EffectiveIncomeTaxRateReconciliationOtherAdjustments
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IncomeTaxReconciliationOtherAdjustments
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EffectiveIncomeTaxRateReconciliationOtherAdjustments
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CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
139000
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EffectiveIncomeTaxRateReconciliationOtherAdjustments
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CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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IncomeTaxExpenseBenefit
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CY2022Q4 us-gaap Unrecognized Tax Benefits
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CY2023Q4 us-gaap Unrecognized Tax Benefits
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CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
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CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2022Q4 mcb Fair Value Liabilities Level2 To Level1 Transfers Amounts
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0
CY2023Q4 mcb Fair Value Liabilities Level2 To Level1 Transfers Amounts
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0
CY2023Q4 mcb Fair Value Assets Level1 To Level2 Transfers Amounts
FairValueAssetsLevel1ToLevel2TransfersAmounts
0
CY2022Q4 mcb Fair Value Assets Measured At Fair Value On Non Recurring Basis
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0
CY2023Q4 mcb Fair Value Assets Measured At Fair Value On Non Recurring Basis
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0
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
18.00
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
4600000
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
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CY2023 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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1000000.0
CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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889000
CY2021 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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CY2023 us-gaap Loans And Leases Receivable Commitments Fixed Rates
LoansAndLeasesReceivableCommitmentsFixedRates
126950000
CY2023 us-gaap Loans And Leases Receivable Commitments Variable Rates
LoansAndLeasesReceivableCommitmentsVariableRates
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CY2022 us-gaap Loans And Leases Receivable Commitments Fixed Rates
LoansAndLeasesReceivableCommitmentsFixedRates
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LoansAndLeasesReceivableCommitmentsVariableRates
364908000
CY2023 mcb Percentage Of Capital Conversion Buffer
PercentageOfCapitalConversionBuffer
0.048
CY2022 mcb Percentage Of Capital Conversion Buffer
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0.054
CY2023Q4 us-gaap Tier One Leverage Capital
TierOneLeverageCapital
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CY2023Q4 us-gaap Tier One Leverage Capital To Average Assets
TierOneLeverageCapitalToAverageAssets
0.106
CY2023Q4 us-gaap Tier One Leverage Capital Required For Capital Adequacy
TierOneLeverageCapitalRequiredForCapitalAdequacy
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CY2023Q4 us-gaap Tier One Leverage Capital Required For Capital Adequacy To Average Assets
TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets
0.040
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CommonEquityTierOneCapital
702224000
CY2023Q4 us-gaap Common Equity Tier One Capital Ratio
CommonEquityTierOneCapitalRatio
0.115
CY2023Q4 us-gaap Common Equity Tier One Capital Required For Capital Adequacy
CommonEquityTierOneCapitalRequiredForCapitalAdequacy
274867000
CY2023Q4 mcb Common Equity Tier One Capital Required For Capital Adequacy To Risk Weighted Assets Ratio
CommonEquityTierOneCapitalRequiredForCapitalAdequacyToRiskWeightedAssetsRatio
0.045
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PercentageOfMinimumConversionBufferOnTier1CommonEquityCapitalToRiskWeightedAssets
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TierOneRiskBasedCapital
722844000
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TierOneRiskBasedCapitalToRiskWeightedAssets
0.118
CY2023Q4 us-gaap Tier One Risk Based Capital Required For Capital Adequacy
TierOneRiskBasedCapitalRequiredForCapitalAdequacy
366490000
CY2023Q4 us-gaap Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.060
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CY2023Q4 us-gaap Capital
Capital
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CapitalRequiredForCapitalAdequacy
488653000
CY2023Q4 us-gaap Capital Required For Capital Adequacy To Risk Weighted Assets
CapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.080
CY2023Q4 mcb Percentage Of Minimum Conversion Buffer On Total Capital To Risk Weighted Assets
PercentageOfMinimumConversionBufferOnTotalCapitalToRiskWeightedAssets
0.025
CY2022Q4 us-gaap Tier One Leverage Capital
TierOneLeverageCapital
641082000
CY2022Q4 us-gaap Tier One Leverage Capital To Average Assets
TierOneLeverageCapitalToAverageAssets
0.102
CY2022Q4 us-gaap Tier One Leverage Capital Required For Capital Adequacy
TierOneLeverageCapitalRequiredForCapitalAdequacy
250963000
CY2022Q4 us-gaap Tier One Leverage Capital Required For Capital Adequacy To Average Assets
TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets
0.040
CY2022Q4 us-gaap Common Equity Tier One Capital
CommonEquityTierOneCapital
620462000
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CommonEquityTierOneCapitalRatio
0.121
CY2022Q4 us-gaap Common Equity Tier One Capital Required For Capital Adequacy
CommonEquityTierOneCapitalRequiredForCapitalAdequacy
230879000
CY2022Q4 mcb Common Equity Tier One Capital Required For Capital Adequacy To Risk Weighted Assets Ratio
CommonEquityTierOneCapitalRequiredForCapitalAdequacyToRiskWeightedAssetsRatio
0.045
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PercentageOfMinimumConversionBufferOnTier1CommonEquityCapitalToRiskWeightedAssets
0.025
CY2022Q4 us-gaap Tier One Risk Based Capital
TierOneRiskBasedCapital
641082000
CY2022Q4 us-gaap Tier One Risk Based Capital To Risk Weighted Assets
TierOneRiskBasedCapitalToRiskWeightedAssets
0.125
CY2022Q4 us-gaap Tier One Risk Based Capital Required For Capital Adequacy
TierOneRiskBasedCapitalRequiredForCapitalAdequacy
307838000
CY2022Q4 us-gaap Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.060
CY2022Q4 mcb Percentage Of Minimum Conversion Buffer On Tier1 Capital To Risk Weighted Assets Percent
PercentageOfMinimumConversionBufferOnTier1CapitalToRiskWeightedAssetsPercent
0.025
CY2022Q4 us-gaap Capital
Capital
686139000
CY2022Q4 us-gaap Capital To Risk Weighted Assets
CapitalToRiskWeightedAssets
0.134
CY2022Q4 us-gaap Capital Required For Capital Adequacy
CapitalRequiredForCapitalAdequacy
410451000
CY2022Q4 us-gaap Capital Required For Capital Adequacy To Risk Weighted Assets
CapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.080
CY2022Q4 mcb Percentage Of Minimum Conversion Buffer On Total Capital To Risk Weighted Assets
PercentageOfMinimumConversionBufferOnTotalCapitalToRiskWeightedAssets
0.025
CY2023 us-gaap Net Income Loss
NetIncomeLoss
77268000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
59425000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
60555000
CY2023 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
365000
CY2022 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
141000
CY2021 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
739000
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
76903000
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
59284000
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
59816000
CY2023 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
11112572
CY2022 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
10955077
CY2021 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
9123037
CY2023 mcb Weighted Average Number Of Shares Participating Securities
WeightedAverageNumberOfSharesParticipatingSecurities
52462
CY2022 mcb Weighted Average Number Of Shares Participating Securities
WeightedAverageNumberOfSharesParticipatingSecurities
26056
CY2021 mcb Weighted Average Number Of Shares Participating Securities
WeightedAverageNumberOfSharesParticipatingSecurities
111337
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11060110
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10929021
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9011700
CY2023 us-gaap Earnings Per Share Basic
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6.95
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.42
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
6.64
CY2023 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
76903000
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
59284000
CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
59816000
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11060110
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10929021
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9011700
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11129900
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11200184
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9272822
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
6.91
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.29
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
6.45
CY2023Q4 mcb Accumulated Other Comprehensive Income Loss Before Tax
AccumulatedOtherComprehensiveIncomeLossBeforeTax
-75209000
CY2023Q4 mcb Accumulated Other Comprehensive Income Loss Tax
AccumulatedOtherComprehensiveIncomeLossTax
22273000
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-52936000
CY2022Q4 mcb Accumulated Other Comprehensive Income Loss Before Tax
AccumulatedOtherComprehensiveIncomeLossBeforeTax
-78131000
CY2022Q4 mcb Accumulated Other Comprehensive Income Loss Tax
AccumulatedOtherComprehensiveIncomeLossTax
23833000
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-54298000
CY2021Q4 mcb Accumulated Other Comprehensive Income Loss Before Tax
AccumulatedOtherComprehensiveIncomeLossBeforeTax
-10952000
CY2021Q4 mcb Accumulated Other Comprehensive Income Loss Tax
AccumulatedOtherComprehensiveIncomeLossTax
3448000
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-7504000
CY2023 mcb Proceeds From Sales And Calls Of Securities
ProceedsFromSalesAndCallsOfSecurities
0.0
CY2022 mcb Proceeds From Sales And Calls Of Securities
ProceedsFromSalesAndCallsOfSecurities
0.0
CY2021 mcb Proceeds From Sales And Calls Of Securities
ProceedsFromSalesAndCallsOfSecurities
43200000
CY2023 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
27880000
CY2022 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
26851000
CY2021 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
23150000
CY2023Q3 us-gaap Derivative Asset Notional Amount
DerivativeAssetNotionalAmount
700000000.0

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