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?

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TheAwesome63 t1_jecie3i wrote

If their Ceo sold of a bunch of shares and then left...

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There is probably something bad about to happen

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AbjectHour5328 t1_jecj5wc wrote

Bout to load up on calls real soon for $xlf this is too sweet of the buy the dip

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Cutlercares t1_jeddita wrote

Not just the CEO. Multiple company officers sold all their stake and bounced.

You have it wrong. This thing is going to zero, or more likely bought out. The bounce is temporary, but lucrative if you bought calls before close (which I did).

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Cutlercares t1_jedf0eq wrote

The whole take might be wrong, but that's why you straddle with high volatility.

I'm sure more research will come to light tomorrow and a clear view of the bank's situation will emerge.

For now, I think going with "where there's smoke, there's fire" is the right call.

FYI: I never saw the article. Several posts with the bank's balance sheet were made in other subs I follow.

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jodddranken t1_jedgax0 wrote

This thing is mooning tomorrow morning. Going heavy on shares, not calls

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