Welcome to our dedicated page for Metrocity Bankshares news (Ticker: MCBS), a resource for investors and traders seeking the latest updates and insights on Metrocity Bankshares stock.
MetroCity Bankshares Inc (MCBS) delivers essential banking services through Metro City Bank, serving businesses and consumers across regional markets. This news hub provides investors and stakeholders with authoritative updates on the company’s financial developments and strategic direction.
Access real-time press releases, earnings announcements, and regulatory filings in one centralized location. Our curated collection ensures you stay informed about critical updates including loan portfolio performance, interest income trends, and risk management initiatives without promotional bias.
Key content categories include quarterly earnings reports, leadership appointments, product launches, and compliance updates. All materials are sourced directly from official company communications to maintain accuracy and timeliness.
Bookmark this page for streamlined access to MetroCity Bankshares’ latest developments. Check regularly for updates that matter to your financial analysis and decision-making processes.
MetroCity Bankshares, Inc. (NASDAQ: MCBS) announced a net income of $15.7 million, or $0.62 per diluted share, for Q1 2023, rising by 54.5% from Q4 2022 but down 19.0% from Q1 2022. The annualized return on average assets improved to 1.87%, while the return on average equity rose to 18.09%. Despite a 4.6% increase in interest income to $46.0 million, net interest income fell by $2.7 million. Noninterest income surged 235.3% to $6.0 million, primarily due to gains on SBA loans. Total assets decreased slightly to $3.42 billion, with loans down 1.4% from Q4 2022. The efficiency ratio improved to 33.1%, reflecting better cost management.
MetroCity Bankshares, Inc. (NASDAQ: MCBS) has declared a quarterly cash dividend of $0.18 per share on its common stock, scheduled for distribution on May 12, 2023. This dividend will be paid to shareholders recorded by May 3, 2023. The decision reflects the company's ongoing commitment to returning value to its investors, highlighting its financial stability and operational success.
MetroCity Bankshares operates 19 branches across multi-ethnic communities in multiple states, including Alabama, Florida, Georgia, New York, New Jersey, Texas, and Virginia. This diverse geographical presence may positively influence the bank's growth potential and revenue streams.
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