The inquiry follows the bank’s July 21 disclosure of financial results that missed analyst expectations for both revenue and GAAP net income. Central to the investigation is a significant spike in credit loss provisioning, which climbed to $13.3 million. Management blamed this surge on difficulties with a single commercial and industrial loan alongside the charge-off of a commercial real estate asset.

Investors reacted to the news on July 22, sending Metropolitan shares tumbling $8.88—a drop of nearly 9%. Pomerantz LLP, which specializes in corporate and securities litigation, is now inviting affected shareholders to contact attorney Danielle Peyton to discuss potential class action participation.