Metropolitan Bank Holding Corp (NYSE:MCB) shares are trading higher in Thursday’s after-hours session after the company provided an update on its financials.
What Happened: Metropolitan bank issued an update on its financial information in response to a recent bearish report claiming the company had liquidity issues.
The bank said it remains well-capitalized across all measures of regulatory capital. As of March 29, total core deposit verticals were $5.04 billion, up 5.04% from the end of 2022.
Cash on deposit with the Federal Reserve Bank of New York and readily accessible secured funding capacity totaled $3.1 billion as of Wednesday.
The stock is bouncing back after falling in Thursday’s regular trading session as traders circled a Vidar Research Substack report titled “Metropolitan Commercial Bank Is A Mixed Bag Of Problems.”
The Details: Why Metropolitan Bank Stock Is Tumbling Today
MCB Price Action: Metropolitan Bank shares were up 19.9% after hours at $30.40 at the time of publication, according to Benzinga Pro.
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