Submitted by mebinici t3_1274g0l in wallstreetbets
With so much going on today and bank runs still happening, I'd be cautious! Their CEO retired and sold a bunch or shares...
The Company and Bank remain well capitalized across all measures of regulatory capital, with a total risk-based capital of 13.4% and 13.1%, respectively, at December 31, 2022, well above regulatory minimums.
As of March 29, 2023:
Total core deposit verticals were $5.04 billion compared with $4.78 billion as of December 31, 2022, an increase of 5.4%.
Insured deposits account for 66% of total deposits, up from 60% at December 31, 2022.
Liquidity remains strong. Cash on deposit with the Federal Reserve Bank of New York and readily accessible secured funding capacity totaled $3.1 billion, which is 170% of uninsured deposit balances.
Our previously announced exit from the crypto vertical, not included in total core deposit verticals above, is almost complete, with crypto-related deposits currently accounting for 4% of total deposits and as anticipated is expected to be near zero by the end of the second quarter of 2023.
Asset quality remains strong. The commercial real estate ("CRE") portfolio, which includes owner-occupied CRE, is broadly diversified by property type, with offices accounting for only 10% of the portfolio, and the 61% average loan-to-value ratio of the portfolio significantly mitigates credit risk.
Thoughts?
VisualMod t1_jechwjp wrote