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PL Capital, upset that Metro Bancorp refuses to sell itself, has launched a proxy battle to gain two board seats at the Harrisburg, Pa., company.
October 20 -
Metro Bancorp, once an aspiring acquirer, is fielding complaints from a trio of investment firms that believe management is incapable of meaningfully improving the company's performance.
June 26 -
Metro Bancorp in Harrisburg, Pa., which has been under pressure from several investors, is taking steps to improve earnings and shareholder returns.
October 14
Metro Bank of Harrisburg, Pa., which is facing a challenge from an activist investor, posted higher quarterly earnings.
The $3 billion-asset company's third-quarter earnings rose 18% from a year earlier, to $5.5 million, or 38 cents a share.
Net interest income rose 9%, to $24.9 million. Loans increased 13%, to $1.9 billion. The net interest margin was unchanged, at 3.49%.
Noninterest income increased 1.5%, to $7.6 million. Noninterest expenses fell 0.3%, to $22.4 million, while the loan-loss provision fell 75%, to $2.1 million.
Metro has faced pressure from shareholders to
