Metropolitan Bank reports $5.04B core deposits, 66% insured, strong liquidity as of March 29

Metropolitan Bank Holding Corp.

Total core deposit verticals $5.04B, up 5.4% from Dec 31, 2022; insured deposits now 66% of total (up from 60%).
Liquidity of $3.1B (cash at Fed + secured funding capacity) covers 170% of uninsured deposits.
Crypto-related deposits down to 4% of total; exit expected near zero by end of Q2 2023.
CRE portfolio diversified: offices only 10%, average loan-to-value ratio 61% mitigates credit risk.
Company and Bank remain well capitalized: total risk-based capital 13.4% and 13.1%, respectively, at Dec 31, 2022.

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