Metropolitan Bank Holding Corp (MCB) 2024 Q1 法說會逐字稿

Good day, and welcome to metropolitan Commercial Bank's first quarter 2024 earnings call.

美好的一天，歡迎參加首都商業銀行 2024 年第一季財報電話會議。

Hosting the call from Metropolitan Commercial Bank are Mark DeFazio, President and Chief Executive Officer; and Dan Daugherty, Executive Vice President and Chief Financial Officer.

大都會商業銀行總裁兼執行長 Mark DeFazio 主持了這場電話會議；執行副總裁兼財務長 Dan Daugherty。

Today's call is being recorded.

今天的通話正在錄音。

(Operator Instructions)

（操作員說明）

During today's presentation, reference will be made to the Company's earnings release and investor presentation, copies of which are available at MCbankNY.com.

在今天的演示中，將參考公司的收益發布和投資者演示，其副本可在 MCbankNY.com 上取得。

Today's presentation may include forward-looking statements that are subject to risks and uncertainties that may cause actual results to differ materially.

今天的演示可能包含前瞻性陳述，這些陳述受到風險和不確定性的影響，可能導致實際結果出現重大差異。

Please refer to the Company's notices regarding forward-looking statements and non-GAAP measures that appear in the earnings release.

請參閱公司關於收益發布中出現的前瞻性陳述和非公認會計原則措施的通知。

It is now my pleasure to turn the floor over to Mark DeFazio, CEO, President and Chief Executive Officer.

現在我很高興請執行長、總裁兼執行長馬克·德法齊奧 (Mark DeFazio) 發言。

You may begin.

你可以開始了。

Thank you.

謝謝。

Good morning, and thank you for joining our first quarter earnings call for the first quarter of 2024 was very productive for MCB.

早安，感謝您參加我們的第一季財報電話會議，2024 年第一季的財報電話會議對 MCB 來說非常有成效。

Our first quarter results were a strong start for the Company.

我們第一季的業績為公司帶來了良好的開端。

During the quarter, we carefully grew the balance sheet while maintaining our price discipline, credit standards and with a continued sharp focus on liquidity and interest rate risk management.

本季度，我們謹慎地擴大了資產負債表，同時維持了價格紀律、信貸標準，並繼續高度關注流動性和利率風險管理。

We were also able to grow core deposits well in excess of our loan growth.

我們的核心存款成長也遠遠超過了貸款成長。

Our two major initiatives planned for 2024 the wind-down of the GPG. business and the digital transformation projects have begun in earnest and are proceeding on time and on budget.

我們的兩項主要措施計劃在 2024 年逐步結束 GPG。業務和數位轉型專案已認真啟動，並按時、按預算進行。

While we remain focused on the continuation of an expansion of our profitable and disciplined commercial bank growth strategy.

同時，我們仍然專注於繼續擴大我們獲利且嚴格的商業銀行成長策略。

In the first quarter, we reported an earnings per share of $1.46, which was reported by strong and sorry, which was supported by strong growth in net interest income and continued excellent credit performance.

第一季度，我們報告的每股收益為1.46美元，強勁且抱歉，這得益於淨利息收入的強勁增長和持續出色的信貸表現。

In the meantime, the successful completion of our other initiatives remain a high priority.

同時，成功完成我們的其他舉措仍然是重中之重。

The economy continues to display strong fundamentals an impressive resilience.

經濟持續展現出強勁的基本面和令人印象深刻的韌性。

This is evident as the evident strength of the economy provides us with an open up an optimistic outlook for loan growth and credit performance.

這是顯而易見的，因為經濟的明顯實力為我們提供了對貸款成長和信貸表現的樂觀前景。

The outlook for monetary policy has changed dramatically over the last several months rather than expect expectations of significant easing throughout 2024.

貨幣政策前景在過去幾個月發生了巨大變化，而不是預期 2024 年將出現大幅寬鬆。

The market is now pricing in less than 50 basis points of easing in the back half of the year.

目前市場預計下半年的寬鬆幅度將低於 50 個基點。

I am pleased to report we saw four basis points margin expansion in the first quarter, even with the change in the outlook of monetary policy, we continue to expect further margin expansion as the year progresses.

我很高興地報告，我們在第一季看到了四個基點的利潤率擴張，即使貨幣政策前景發生變化，我們仍然預計隨著今年的進展，利潤率將進一步擴張。

Asset quality remains strong.

資產品質依然強勁。

We have not identified any broad based negative trends in any loan product, geography or sector that is impacting our portfolio.

我們尚未發現任何貸款產品、地區或行業存在任何影響我們投資組合的廣泛負面趨勢。

We believe that our healthy credit metrics are a direct result of MCB's pricing, disciplined, conservative underwriting and portfolio diversity.

我們相信，我們健康的信貸指標是 MCB 的定價、嚴格、保守的承保和投資組合多樣性的直接結果。

Also as our performance is supported by the exclusive focus on relationship-based commercial banking and high-quality commercial clients and sponsors in industry segments that we know exceptionally well.

此外，我們的業績得到了對基於關係的商業銀行業務以及我們非常熟悉的行業領域的高品質商業客戶和贊助商的支持。

Finally, I am pleased to report that the two loans totaling approximately $21 million that were classified as nonperforming loans at [1231] last year are now current have substantial funded interest reserves and the related workouts also include targeted and aggressive amortization requirements throughout this year.

最後，我很高興地報告，去年在[1231]分類為不良貸款的兩筆總計約2100 萬美元的貸款目前擁有大量利息儲備，相關的解決方案還包括今年全年有針對性和積極的攤銷要求。

I will now turn the call over to Dan Dougherty.

我現在將把電話轉給丹·多爾蒂。

Thank you, Mark.

謝謝你，馬克。

Good morning and thanks again for joining our first quarter earnings call.

早安，再次感謝您參加我們的第一季財報電話會議。

First quarter loan growth growth over $94 million was funded entirely by core deposit growth of more than $340 million, excluding additional growth in the VAS verticals.

第一季超過 9,400 萬美元的貸款成長完全由超過 3.4 億美元的核心存款成長提供資金，不包括增值服務垂直產業的額外成長。

As mentioned in the press release, multiple deposit verticals contributed to the core deposit growth.

正如新聞稿中所提到的，多個存款垂直領域促進了核心存款的成長。

As a result of our deposit growth are our end-of-period and average balance of cash parked at the Fed was substantially elevated.

由於我們的存款成長，我們存放在聯準會的期末和平均現金餘額大幅增加。

Despite the outsized cash position and the current rate environment, we were able to increase the net interest margin by four basis points in the first quarter.

儘管現金部位龐大且當前利率環境不佳，但我們仍能夠在第一季將淨利差提高四個基點。

Our loan pricing and repricing discipline was the main driver of our ability to expand, and we expect to see some additional uplift in the margin throughout the remainder of the year.

我們的貸款定價和重新定價紀律是我們擴張能力的主要驅動力，我們預計今年剩餘時間內利潤率將進一步提升。

In our updated forecast model, we have penciled in a single 25 basis point rate cut in September.

在我們更新的預測模型中，我們預計 9 月將降息 25 個基點。

In that scenario, we expect to see approximately 5 basis points to 10 basis points of additional uplift.

在這種情況下，我們預計會出現大約 5 到 10 個基點的額外提升。

Put another way.

換一種方式。

We forecast the fourth quarter NIM in the range of 3.45% to 3.5%.

我們預計第四季淨利差在 3.45%至 3.5%之間。

Focusing on lending, it is noteworthy that our quarterly low loan growth was net of more than $225 million in payoffs and paydowns.

重點關注貸款，值得注意的是，我們的季度低貸款成長扣除了超過 2.25 億美元的還款和還款。

Continued focus on economic loan pricing resulted in a weighted average coupon net of deferred fees, which are typically 15 basis points to 25 basis points per year of 8.47% on first quarter new loan originations and draws versus a December '23 portfolio coupon of 6.92%.

繼續關注經濟貸款定價，導致扣除遞延費用後的加權平均息票，第一季新貸款發放和提取的利息通常為每年15 個基點至25 個基點，為8.47%，而23 年12 月的投資組合票面利率為6.92% 。

Loan growth is expected to accelerate as the year progresses.

隨著時間的推移，貸款成長預計將加速。

We continue to plan on loan growth of between 608,000,608 hundred million for the year.

我們繼續計劃全年貸款增加608,000,608億元之間。

Our loan pipelines, especially on the C&I side, are growing after a slower than expected start to the year.

我們的貸款管道，尤其是工商業方面的貸款管道，在年初增速低於預期後正在成長。

Importantly, our plan assumes that we're able to fund all of that planned loan growth with deposits.

重要的是，我們的計劃假設我們能夠用存款為所有計劃的貸款成長提供資金。

As Bobby mentioned, asset quality remains strong with no identifiable negative trends in the portfolio.

正如鮑比所提到的，資產品質仍然強勁，投資組合中沒有明顯的負面趨勢。

The provision in the first quarter was generally in line with the increase in footings, offset somewhat by improvements in the macroeconomic variables that underlie our first quarter CECL model forecasts noninterest income increased by approximately 7% from the linked quarter as fees associated with letter of credit activity and deposit service charges more than offset a small decline in VAS revenue the uptick in deposit fees is expected to be sustainable.

第一季的準備金總體上與基礎的增長一致，但在一定程度上被宏觀經濟變量的改善所抵消，這是我們第一季CECL 模型預測的非利息收入較上一季度增長約7% 的原因，因為與信用證相關的費用活動和存款服務費用足以抵消增值服務收入的小幅下降，存款費用的上漲預計將是可持續的。

While the increase in letter of credit fees is more aligned with borrower behavior, the decline in VAS revenue will accelerate as the wind-down project proceed throughout the year, we expect PaaS revenue to total $8 million to $10 million and total noninterest income to foot to $19 million to $21 million for the year for its non-interest expenses.

雖然信用證費用的增加與借款人的行為更加一致，但隨著全年逐步結束的項目的進行，增值服務收入的下降將加速，我們預計PaaS 收入總額將達到800 萬至1000 萬美元，非利息收入總額將達到100 萬美元。

Non-interest expenses totaled $41.9 million in the first quarter.

第一季非利息支出總計 4,190 萬美元。

Importantly, expenses related to the digital transformation project totaled $1.8 million in addition and an additional $3.1 million reflects remediation work and severance payments associated with the GPG wind-down.

重要的是，與數位轉型專案相關的費用總計為 180 萬美元，另外 310 萬美元反映了與 GPG 停業相關的補救工作和遣散費。

There was also an increase in core operating expenses compared to the fourth quarter.

與第四季相比，核心營運費用也有所增加。

This was primarily due to seasonally elevated employer tax payment.

這主要是由於雇主納稅額季節性增加。

Our $12 million digital transformation budget means or is unchanged, and we continue to expect to complete the project in 2025.

我們 1200 萬美元的數位轉型預算意味著或保持不變，我們繼續期望在 2025 年完成該專案。

We currently expect about $8 million to $9 million of the project to be expensed in 2024, including what has already been recorded for the first quarter.

我們目前預計 2024 年該專案的費用約為 800 萬至 900 萬美元，包括第一季已記錄的費用。

Noninterest expenses for the full year, including the digital transformation investment, are expected to total in the range of $160 million to $163 million.

包括數位轉型投資在內的全年非利息支出預計總計在 1.6 億至 1.63 億美元之間。

The effective tax rate for the quarter was approximately 33%.

本季的有效稅率約為 33%。

The tax rate was negatively impacted by discrete items that came through in the quarter, primarily related to the conversion of employee stock-based awards.

稅率受到本季發生的離散項目的負面影響，主要與員工股票獎勵的轉換有關。

Going forward, we expect the effective tax rate to be in the range of 31% to 32%, excluding discrete items.

展望未來，我們預計有效稅率將在 31% 至 32% 之間，不包括離散項目。

And finally, please refer to the updated investor deck, which can be accessed from our website for walk down from reported earnings to non-GAAP core earnings as well.

最後，請參閱更新後的投資者資料，您可以從我們的網站訪問該資料，以了解從報告收益到非 GAAP 核心收益的詳細內容。

The debt now includes slides that provide details about the bank's multifamily and office loan portfolios.

債務現在包括提供有關銀行多戶家庭和辦公室貸款組合詳細資訊的幻燈片。

I will now turn the call back two, our upgrades.

我現在將電話轉回兩個，我們的升級。

(Operator Instructions)

（操作員說明）

Mark Fitzgibbon, Piper Sandler.

馬克·菲茨吉本，派珀·桑德勒。

Please go ahead.

請繼續。

Hey guys.

大家好。

Good morning, nice quarter.

早上好，美好的季度。

First question I had just to clarify, we still should expect about $300 million of B2C deposits running off in the second quarter?

我剛才要澄清的第一個問題是，我們仍然應該預期第二季大約有 3 億美元的 B2C 存款流失？

Is that is that right?

是這樣嗎？

It's approximately yes, it's a good estimate towards the end of the second quarter, especially, yes.

大約是的，這是對第二季末的一個很好的估計，尤其是，是的。

Okay.

好的。

And should we assume that your deposit pipelines continue to be strong given the success you had in the first quarter?

鑑於您在第一季的成功，我們是否應該假設您的存款管道持續強勁？

Yes, yes, the answer is sorry.

是的，是的，答案是抱歉。

Yes, the answer is yes.

是的，答案是肯定的。

But the timing of these new relationships and deepening some of them could be a bit different.

但這些新關係和深化其中一些關係的時機可能會有所不同。

But to Dan's point, at the end of the year, we are confident that we will not only replace those deposits, but we will have funded our loan growth.

但就丹而言，到今年年底，我們有信心不僅會取代這些存款，而且還會為貸款成長提供資金。

So from a quarter by quarter basis, it could be a little timing could be slightly off on but on an annualized basis, we are still in line with our projections.

因此，從每個季度的角度來看，時間可能會略有偏差，但從年化角度來看，我們仍然符合我們的預測。

Okay.

好的。

And then in the past, you all had indicated that you were talking to some teams from neighboring banks from.

然後在過去，你們都表示你們正在與來自鄰近銀行的一些團隊進行交談。

I haven't seen any announcements from you all, or is that still in process?

我還沒看到你們的消息，還是還在處理中？

Is it likely that you'll hire some of those deposit teams in coming quarters?

您是否有可能在未來幾季僱用其中一些存款團隊？

You know, it's interesting question.

你知道，這是一個有趣的問題。

We've met with several and none of them were really a good fit so far for a lot of different reasons from cultural fit to pricing to loan expectations to support clients as a whole host of of parts to that conversation.

我們見過幾個人，但到目前為止，他們中沒有一個人真正適合，原因有很多不同，從文化契合度到定價，再到貸款期望，以支持客戶作為對話的所有部分。

And so far, we've never built this franchise based on teams for a lot of different reasons.

到目前為止，出於多種不同的原因，我們從未基於團隊來建立這個系列。

And but we did speak to several teams and but we have not made a decision on any one of them, but I would put a low probability on on that happening in 2024.

但我們確實與幾支球隊進行了交談，但我們尚未對其中任何一支球隊做出決定，但我認為 2024 年發生這種情況的可能性很小。

Mark, do you think some of these teams are getting unrealistic deals from other banks or the banks are paying too much to bring these teams on?

馬克，您是否認為其中一些團隊從其他銀行獲得了不切實際的交易，或者銀行為吸引這些團隊支付了太多費用？

Well, I don't know what they negotiated, perhaps they're better negotiator than me.

好吧，我不知道他們談判了什麼，也許他們比我更擅長談判。

But dumb when I when I look at the three biggest hurdles are all nice people by the way coming into the bank.

但當我看到三個最大的障礙都是進入銀行的好人時，我變得傻了。

But And culturally, it's a very difficult fit.

但從文化上來說，這是一個非常困難的契合。

You know, they're used to working in teams.

你知道，他們習慣於團隊合作。

They're not integrated with the company on its order out of character for what we've built here as commercial bank on the kind of integration we have.

他們沒有按照公司的順序與我們整合，這與我們在這裡建立的商業銀行的整合方式不符。

You had a kind of culture, not only works for our staff, but also works for our clients.

你們有一種文化，不僅為我們的員工工作，也為我們的客戶工作。

Our clients expect that kind of relationship banking.

我們的客戶期望這種關係銀行業務。

So that's the problem.

這就是問題所在。

Number one, number two, on the way in even if you think that the cost of those deposits are affordable today are efficient.

第一，第二，即使你認為這些存款的成本今天是可以負擔的，但在路上也是有效率的。

You've got to kind of dig in a little deeper and look at total compensation expectations.

你必須更深入地研究一下總薪酬預期。

And what I found most problematic is the implication of loan expectations a lot of these deposit teams represent a lot of real estate owners in multifamily.

我發現最有問題的是貸款預期的影響，這些存款團隊代表了多戶住宅中的許多房地產所有者。

And although we have multifamily on the balance sheet, it will never be a primary asset class at MCB, it is a low profitable business.

儘管我們的資產負債表上有多戶家庭，但它永遠不會成為 MCB 的主要資產類別，它是一項利潤較低的業務。

So I don't want to upset anybody up for failure, encourage them to come here.

所以我不想讓任何人因為失敗而感到沮喪，而是鼓勵他們來到這裡。

We attempt to integrate them.

我們嘗試將它們整合起來。

And then find out, we can't replace the loans as they mature out of their existing banks in multifamily.

然後發現，當多戶家庭的現有銀行貸款到期時，我們無法更換貸款。

So there's a few other ag, but other other conversation points, all nice people.

所以還有一些其他的人，還有其他的談話點，都是好人。

I wish them well.

我祝他們一切順利。

But so far it has not been a good fit for MCB. for a lot of reasons.

但到目前為止，它還不太適合 MCB。出於很多原因。

Okay.

好的。

And last question -- Dan, the guidance you gave was super helpful, though.

最後一個問題──丹，不過，你提供的指導非常有幫助。

The one thing you didn't give guidance on was the provision based on your projection for $600 million to $800 million of loan growth and assuming no real changes to the economic model and how what does that kind of spit out in terms of provisioning for the year

您沒有提供指導的一件事是，根據您對6 億至8 億美元貸款成長的預測，假設經濟模型沒有發生真正的變化，以及這種情況在準備金方面會產生什麼結果，這是一項準備金。

We should see about 1% of growth as our provision level.

我們的供給水準應該會看到 1% 左右的成長。

So I'm thinking 6% to 8%, maybe a little, maybe a little bit more, but I think [60], it's a good context for the provision for the remainder of the year.

所以我認為 6% 到 8%，也許一點，也許更多一點，但我認為 [60]，這是為今年剩餘時間提供資金的良好背景。

Thank you.

謝謝。

Christopher O'Connell, KBW.

克里斯托弗·奧康奈爾，KBW。

Hey, good morning.

嗨，早安。

So just wondering to start off on the expense side.

所以只是想從費用方面開始。

I appreciate the guidance there.

我很感謝那裡的指導。

And the guidance around the digital transformation costs as well for the guide the

以及圍繞數位轉型成本的指導以及指導

[161 to 163].

[161至163]。

That includes the core OpEx plus the digital transformation.

這包括核心營運支出和數位轉型。

Does that include the GPG wind down and regulatory remediation costs?

這是否包括 GPG 逐步結束和監管補救成本？

Yes, it does, Chris.

是的，確實如此，克里斯。

Okay, got it.

好，知道了。

And can you just walk us through like what exactly the regulatory remediation costs relate to and how much of the GPG. wind-down and regulatory remediation costs remain, if any, over the course of the year, it really is made up of legal and professional fees, consulting fees.

您能否向我們介紹一下監管補救成本到底與什麼相關以及 GPG 有多少。在這一年中，如果有的話，停業和監管補救成本仍然存在，它實際上是由法律和專業費用、諮詢費組成的。

As you all know, we have two public consent orders out there, which are expensive to unwind and get removed.

眾所周知，我們有兩個公共同意令，解除和刪除這些命令的成本很高。

We're confident that we can satisfy the expectations throughout this year, but consultants are very expensive today.

我們有信心能夠滿足今年的期望，但如今顧問的費用非常昂貴。

Regulators expect independent validations done by third parties on you need lawyers to look at every document you center regulators today.

監管機構希望第三方能夠對您需要律師查看您今天向監管機構提交的每一份文件進行獨立驗證。

So it's an expensive and unfortunate expense, but we expected to run off at the end of this year and not and not be in a 2025 run rate can't really allocate that.

因此，這是一項昂貴且不幸的費用，但我們預計在今年年底運行，而不是在 2025 年的運行率中，無法真正分配它。

We're very precise on the budget for for the for the technology integration, but regulatory expenses and legal fees and consulting fees is somewhat of a moving target.

我們對科技整合的預算非常精確，但監管費用、法律費用和諮詢費用在某種程度上是一個不斷變化的目標。

We think we gave you worst-case scenario in Dan's projections.

我們認為我們為您提供了丹的預測中最壞的情況。

And just do you have any ballpark as to like the total dollar amount of those costs throughout 2024.

您對 2024 年這些成本的總金額有什麼大致了解嗎？

Well, if you just back out what you know, how much we're spending in the digital transformation back-out, take that off of what the guidance Dan just gave.

好吧，如果你只是撤回你所知道的，我們在數位轉型撤回中花費了多少，那就從丹剛剛給出的指導中刪除。

You gives you a ballpark of the exit fees and professional fees at GPG. exit cost and the professional fees, but it would rather give you a worst case scenario than trying to allocate.

您可以向您提供 GPG 的退出費用和專業費用的大概資訊。退出成本和專業費用，但它寧願給你一個最壞的情況，而不是試圖分配。

I guess what I'm getting at is when you back out the digital transformation costs and the rest of these one-time costs in there as you're getting to 4Q '24 1Q '25, do you have a sense of what the core kind of underlying expense run rate will shake out at?

我想我要說的是，當您在 24 年第 4 季和 25 年第 1 季取消數位轉型成本和其餘一次性成本時，您是否了解核心是什麼基本費用運行率會出現什麼樣的變化？

It's a really good question, Chris and I have been noodling on that for quite some time.

這是一個非常好的問題，克里斯和我已經思考這個問題很長一段時間了。

I come up with around [148 to 150] as a range of core expenses by the time we get to '25.

當我們到 25 年時，我提出了大約 [148 到 150] 作為核心支出範圍。

So again, that estimate is very dependent on the timing and success of our remediation project and remediation requirements.

同樣，該估計很大程度上取決於我們的修復項目的時間表和成功以及修復要求。

But I think that's a good placeholder.

但我認為這是一個很好的佔位符。

No, that's super helpful.

不，這非常有幫助。

Thank you.

謝謝。

And then just as far as I really appreciate the color on the multi-family and office slides in the deck.

然後就我真正欣賞甲板上多戶家庭和辦公室幻燈片上的顏色而言。

It looks to me that there's on the rent regulated side and on the office side that you have no nonperformers right now from what I could tell you how are you guys feeling about the maturities in those two buckets over the course of 2024?

在我看來，在租金管制方面和在辦公室方面，目前沒有表現不佳的企業，我可以告訴你們，你們對 2024 年這兩個類別的到期日有何看法？

Do you guys have a good look into those borrowers and those credits and it looks a little bit lighter on the rent-regulated multifamily side, but about roughly a third, give or take of the office kind of matures this year?

你們是否仔細研究了這些借款人和這些信貸，在受租金管制的多戶住宅方面，情況看起來有點輕鬆，但大約有三分之一的辦公室今年成熟了？

Yes.

是的。

I would expect is that done with the exception of the credits that we want to keep and we reprice and keep it up because we have a high retention rate here on the rest and we'll get paid off it out of the over $200 million in the first quarter.

我希望除了我們想要保留的積分之外，我們會重新定價並保持它，因為我們在其餘方面都有很高的保留率，我們將從超過 2 億美元的資金中獲得回報。

Some of it was on multifamily as well and perhaps some office.

其中一些也位於多戶住宅，也許還有一些辦公室。

So we do not expect to be in a on a rollover situation where one cannot be refinanced or we would not be interested in refinancing the credit.

因此，我們預計不會出現無法再融資的展期情況，或我們對信貸再融資不感興趣。

I would add further that our credit team has looked at each if its maturity in 2024, we've already been in touch with the customers.

我想進一步補充一點，我們的信貸團隊已經研究了每個項目是否在 2024 年到期，我們已經與客戶取得了聯繫。

And we again, we don't detect anything negative trends out there that are material nature that bring it to your attention.

再說一次，我們沒有發現任何物質性質的負面趨勢引起你們的注意。

Great.

偉大的。

And just the timing of the GPG. deposit roll off, I know you guys covered Q2 and just given that there was actually kind of surprisingly growth this quarter in that category.

以及 GPG 的時間安排。存款滾存，我知道你們報道了第二季度，並且考慮到本季度該類別實際上出現了令人驚訝的增長。

And how are you guys thinking about the timing of the rest of that roll-off into the back half of the year, is it going to be more weighted toward Q3 or Q4 or is it pretty even across the two quarters?

你們如何考慮今年下半年剩餘時間的滾動時間，是否會更偏向第三季或第四季度，還是這兩個季度的情況相當均勻？

I think based on our schedule what we what we call B2C by the end of the summer by August on that should be complete.

我認為根據我們的時間表，我們所說的 B2C 應該在夏末八月之前完成。

And then in the third and fourth quarter, the B2B deposit should be complete.

然後在第三季和第四季，B2B存款應該會完成。

But I would extend the B2C to the end of the summer to August.

但我會把 B2C 的時間延長到夏末到八月。

Was the growth this quarter in B2C or B2B or mix?

本季的成長是 B2C、B2B 還是混合成長？

It was a mix actually.

實際上這是一個混合體。

Great.

偉大的。

That's all I had for now.

這就是我現在所擁有的一切。

Thanks for taking our your questions.

感謝您回答我們的問題。

Alex Lau, JPMorgan.

亞歷克斯·劉，摩根大通。

Hi, good morning.

早安.

Staying on the GPG runoff schedule, what are your expectations for the for the quarterly pace of reduction in GPU fee income and expenses for the year.

根據 GPG 決選時間表，您對本年度 GPU 費用收入和支出的季度下降速度有何預期。

So you saw in Q1, we printed $4 million of fee income on.

所以你看到在第一季度，我們印了 400 萬美元的費用收入。

I don't expect that the decline in the second quarter is going to be materially different than that.

我預計第二季的下滑不會與此有太大不同。

But then as you get into Q3 and Q4, that it's going to accelerate rapidly, again, $8 million to $10 million, my forecast for the entirety of the year on the I think that's the best way to think about it.

但當你進入第三季和第四季時，它將再次迅速加速，800 萬美元到 1000 萬美元，我對全年的預測，我認為這是最好的思考方式。

Great, thank you.

太好了謝謝。

And on the the $90 million increase in non-interest bearing deposits this quarter, where did you see that come from in terms of deposit verticals and looking ahead, where do you expect balances to grow, if any, that?

本季無息存款增加了 9,000 萬美元，您認為這來自存款垂直領域，展望未來，您預計餘額將在哪裡增長（如果有的話）？

A significant portion of that was from the Bass side?

其中很大一部分來自巴斯方面？

So some of it was from retail.

所以其中一些來自零售。

But again, there was a good portion on the van side and it becomes part of the forecasted outflows over the remainder of the year.

但同樣，貨車方面也有很大一部分，它成為今年剩餘時間預測資金流出的一部分。

Great.

偉大的。

Thank you.

謝謝。

And then regarding the NPA that moved to current, were there any specific reserves?

那麼對於目前的NPA來說，有沒有具體的儲備呢？

And do you expect any releases related to these loans?

您預計會發布與這些貸款相關的資訊嗎？

Yes.

是的。

We're hoping that in the second quarter, when we report we could release those reserves, but we wanted to season for a bit more prudent to just let it season there, at least for a quarter.

我們希望在第二季度，當我們報告時，我們可以釋放這些儲備，但我們希望在季節上更加謹慎，讓它在那裡季節，至少一個季度。

But as I said we have substantial interest reserves now from that go well, people well beyond the of the first quarter.

但正如我所說，我們現在擁有大量利息儲備，一切順利，遠遠超出了第一季的水平。

So yes, we'll take a hard look at that, but we're expecting it to get reversed in the second quarter.

所以，是的，我們會認真考慮這一點，但我們預計這種情況會在第二季逆轉。

Great.

偉大的。

Thank you for answering my questions.

感謝您回答我的問題。

Thank you, Alex.

謝謝你，亞歷克斯。

Thank you.

謝謝。

This does conclude the allotted time for questions.

這確實結束了分配的提問時間。

I would now like to turn the call back to Mark DeFazio for any additional or closing remarks.

我現在想將電話轉回給馬克·德法齊奧，請其發表任何補充或結束語。

Thank you.

謝謝。

I do not have any specific remarks.

我沒有具體評論。

I just want to thank everyone again for their continued support and continue the continued support of MCB and we have an exciting franchise here with a great growth story that will just continue.

我只想再次感謝大家的持續支持，並繼續對 MCB 的持續支持，我們這裡擁有令人興奮的特許經營權，並且一個偉大的成長故事將繼續下去。

So thank you again, and enjoy the rest of your day and weekend.

再次感謝您，祝您有個愉快的一天和週末。

Thank you, everyone.

謝謝大家。

This does conclude today's conference call and webcast.

今天的電話會議和網路廣播到此結束。

A webcast archive of this call can be found at www.MCbankny.com. Please disconnect your line at this time and have a wonderful day.

本次電話會議的網路廣播存檔可在 www.MCbankny.com 上找到。請此時斷開您的線路，祝您有美好的一天。