Metropolitan Bank Holding Corp. to exit crypto-asset vertical; minimal financial impact

Metropolitan Bank Holding Corp.

Four active institutional crypto clients account for ~1.5% of total revenues and 6% of total deposits.
Company expects minimal financial impact from exiting this vertical.
No loans outstanding to crypto clients; no crypto-assets on balance sheet.
Exit process commenced; expected to be completed during 2023.
CEO Mark DeFazio notes decision reflects regulatory environment and strategic assessment.

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