MCB

Ignore the headline 'revenue $11.1M', 'P/S 91x' and '643% net margin' — those XBRL tags capture only fee/non-interest income, not net interest income, so they are meaningless for a bank holding company and the revenue 'decline' is a tagging artifact, not a business collapse. The figures that matter are sound: FY2025 net income of $71.1M (+6.6%), diluted EPS of $6.62 (+11.6%), total assets up 13.1% to $8.26B, retained earnings up 17.8%, and cash nearly doubling to $394M. The bank is organically growing its NY-metro loan and deposit base without a large branch network, and the equity base ($743M) supports continued asset growth at a normal-for-a-bank 10.1x liabilities/equity.

The stock screens as fairly priced rather than cheap or expensive: 15.0x earnings and roughly 1.36x book (market cap $1.01B vs. $743M equity). The catch is that ROE is only 9.6% — sub-par for a bank — so the EPS growth is doing more work than the underlying franchise return. Notably, net income rose just 6.6% while EPS rose 11.6%; the gap is buybacks. The company spent $73.5M repurchasing stock (vs. essentially nothing the prior year) and shrank the share count 9.9%. That is shareholder-friendly and accretive at 1.36x book, but it means a meaningful slice of per-share growth is financial engineering, not franchise compounding.