Investors concerned that the issues plaguing New York Community Bancorp would bleed into neighboring institutions had to be encouraged by the latest results of Metropolitan Bank Holdings Corp. (NYSE: MCB).

Shares of the New York-based commercial bank had soared 19% as of 11 a.m. ET after Metropolitan easily exceeded Wall Street expectations in its first-quarter earnings release Thursday.

The New York banking market has been in the spotlight for all the wrong reasons in 2024. A near-death experience at New York Community has investors on edge about a potential bank run there or at other institutions in region, putting pressure on bank stocks.

Continue reading

Source Fool.com