story from Talk Business, a TCW content partner
Privately-held Little Rock-based Metropolitan National Bank reported a $423,000 second quarter loss for the period ending June 30, 2012.
The bank said it posted a $273,000 profit one year ago.
For the first six months of 2012, Metropolitan recorded a $1.46 million loss versus a $3.78 million loss in the first half of 2011.
Metropolitan, which is under supervision from federal regulators, reported improvements in several key measurements:
• As of June 30, its Tier 1 Capital Ratio improved to 6.13% from 5.46% one year ago.
• As of June 30, its Risk Based Capital Ratio was 9.72% compared to 8.58% one year ago.
“Metropolitan’s financial ratios and level of non-performing assets continue to show significant improvement over the previous twelve months,” said Lunsford W. Bridges, President and CEO of Metropolitan National Bank.
“We have taken an aggressive approach to addressing the issues that have negatively impacted our bank. During the first six months of 2012, we have been extremely successful in reducing our non-performing assets by $25 million, including a decrease of $8.5 million in the second quarter,” Bridges said.