Norman Scott
About Norman Scott
Norman Scott is Senior Vice President and Chief Credit Officer of Metropolitan Bank Holding Corp. (MCB) and has served in this role since September 2021; he is 53 and previously led corporate credit for North America at Lloyds Banking Group (2009–Jul 2021). He is a Member of the Chartered Institute of Bankers in Scotland and holds a Bachelor’s in Banking and Finance . Company performance context during his tenure: 2024 net income was $66.7M, loans $6.0B, deposits $6.0B, and NIM 3.53%; the company reported adjusted ROATCE of 12.2% in 2024 and remained “well capitalized” across regulatory measures . The company’s TSR versus the KBW Regional Bank Index since 2020 is shown below (Scott joined in 2021) .
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Company TSR – Value of $100 | 75 | 221 | 122 | 115 | 121 |
| Peer Group TSR – Value of $100 | 91 | 125 | 116 | 116 | 131 |
| Net Income ($USD Millions) | 39.5 | 60.6 | 59.4 | 77.3 | 66.7 |
| Adjusted ROATCE (%) | 12.9 | 15.2 | 16.6 | 16.8 | 12.2 |
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Lloyds Banking Group | Head of Corporate Credit — North America | 2009–2021 | Led North American corporate credit function |
| Metropolitan Bank Holding Corp. | SVP & Chief Credit Officer | 2021–Present | Oversees enterprise credit risk (executive biography) |
External Roles
No public company directorships or external board roles for Scott are disclosed in the proxy statements .
Fixed Compensation
Detailed salary, target bonus, and actual bonus for Norman Scott are not disclosed; he is an executive officer but not a Named Executive Officer (NEO) in MCB’s compensation tables, which cover CEO and other NEOs only .
Performance Compensation
MCB’s executive Annual Incentive Plan (AIP) ties payouts to company and individual scorecards; corporate metrics are Adjusted Net Income Growth and Adjusted ROATCE, with earnout caps at target for the corporate component. For NEOs in 2024, corporate scorecard targets were 11% Adjusted Net Income Growth (threshold 9.35–10.99%) and 10% Adjusted ROATCE; payouts on the corporate component were capped at target despite actual results (Adjusted Net Income Growth 13.7% and Adjusted ROATCE 12.2%) . AIP payouts include a material equity component via RSUs that vest over three years; vesting cadence for RSU/PRSU awards is time-based in three equal annual installments beginning ~one year after grant .
| Metric | Weighting | Target | Actual (2024) | Payout cap | Vesting of equity component |
|---|---|---|---|---|---|
| Adjusted Net Income Growth | Corporate component (CEO corporate=67%; other NEOs=50%) | 11% | 13.7% | Capped at target | RSUs vest in 3 equal annual installments starting ~1 year after grant |
| Adjusted ROATCE | Corporate component (CEO corporate=67%; other NEOs=50%) | 10% | 12.2% | Capped at target | RSUs vest in 3 equal annual installments starting ~1 year after grant |
Notes: Scott’s individual scorecard metrics are not disclosed. CEO and NEO AIP payout mixes illustrate policy: CEO received 33% of the AIP in RSUs and 67% in cash; non-CEO NEOs generally received 75% RSUs and 25% cash, with vesting over three years .
Equity Ownership & Alignment
| Policy area | Detail |
|---|---|
| Executive stock ownership guidelines | CEO: 6× salary; other NEOs: 3× salary; other executive officers (includes Scott): 1× salary; expected within 5 years of effective date/appointment |
| Hedging/derivatives | Prohibited for directors, executive officers, and employees |
| Pledging/margin accounts | Pledging and holding securities in margin accounts prohibited without Board approval |
| Clawback | Incentive Compensation Recoupment Policy (adopted Sep 26, 2023) covering incentive-based comp received in the 3 prior fiscal years preceding an accounting restatement |
| Section 16(a) compliance | No delinquent insider ownership reports in 2024 (executive officers, directors, >10% owners) |
| Equity plan and vesting | Awards granted under the Amended/Restated 2022 Equity Incentive Plan; most awards vest over ≥1 year, typically in three equal annual tranches; no option repricing; double-trigger change-in-control provisions; no 280G excise tax gross-ups |
No line-item beneficial ownership for Scott is disclosed in the stock ownership tables, which present directors and NEOs; executive officers as a group are tracked via Section 16 compliance .
Employment Terms
| Term | Detail |
|---|---|
| Employment start date | September 2021 (SVP & Chief Credit Officer) |
| Contract/agreements | No employment or change-of-control agreement disclosed for Scott; employment/change-in-control arrangements disclosed for CEO and certain NEOs only |
| Non-compete / non-solicit | Not disclosed for Scott; executive policy framework includes Code of Ethics and governance oversight |
| Garden leave / consulting | Not disclosed for Scott |
Performance & Track Record
- Role scope: As Chief Credit Officer, Scott is responsible for credit risk oversight within an enterprise risk framework strengthened in 2024 with a new Board-level Risk Committee and management-level ERM committees .
- Company outcomes in 2024: Net income $66.7M, loans $6.0B, deposits $6.0B, NIM 3.53%; adjusted ROATCE 12.2% .
- Board and management emphasized safety-and-soundness in executive scorecards and compensation outcomes (e.g., CEO discretionary component assessed on safety-and-soundness) .
| 2024 Operating Metrics | Value |
|---|---|
| Net Income ($USD Millions) | 66.7 |
| Loans ($USD Billions) | 6.0 |
| Deposits ($USD Billions) | 6.0 |
| Net Interest Margin (%) | 3.53 |
| Adjusted ROATCE (%) | 12.2 |
Risk Indicators & Red Flags
- Hedging/pledging prohibitions for executives reduce misalignment risk; Board approval required for any margin/pledge, and none are flagged in 2024 filings (no delinquent Section 16(a) reports) .
- Equity-heavy incentives with 3-year vesting enhance retention but create periodic vest-related selling windows; monitor Form 4 filings for Scott to assess selling pressure and any 10b5‑1 plan use (company policy requires pre-approval for trading) .
- Regulatory and risk governance tightened in 2024, including a $10.0M regulatory reserve; safety-and-soundness featured in CEO’s compensation assessment, signaling management attention to risk discipline .
Compensation Peer Group (Benchmarking context)
MCB updated the peer group in 2024 to reflect commercial-bank focus (e.g., BLFY, DCOM, NBBK) and removed payment-focused peers after exiting BaaS; pay decisions consider peer median levels and performance alignment .
Say‑on‑Pay & Shareholder Feedback
Say‑on‑Pay support was 91.40% in 2024; the Board continues annual votes and increased investor outreach (>50% of outstanding shares contacted), with no material changes to NEO pay philosophy after engagement .
Investment Implications
- Alignment: Ownership guidelines (1× salary for non-NEO execs), hedging/pledging bans, clawback policy, and equity vesting cadence suggest strong alignment and retention design for Scott and peers .
- Retention risk: Company-wide use of RSUs with three-year vesting, equity plan expansions (2024/2025) to maintain grant capacity, and safety-and-soundness objectives point to an incentive structure favoring long-term continuity; lack of disclosed individual awards for Scott limits transparency on his personal equity at risk .
- Trading signals: Monitor Scott’s Form 4 filings around vest dates to gauge selling pressure and any 10b5‑1 plan usage; confirm no pledging/margin approvals. Corporate metrics capped at target for the AIP’s corporate component may temper upside payout sensitivity even in outperformance years .
Data limitations: Scott’s individual compensation figures, award sizes, vesting schedules, ownership totals, and any severance/change‑of‑control terms are not disclosed in proxy tables (as he is not an NEO). Analysis relies on disclosed policies, company-wide metrics, and governance structures referenced above .