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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.
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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.
MetroCity Bankshares reported a net income of $13.2 million for Q4 2022, down 22% from Q3 and 24.5% from Q4 2021. The year-end 2022 net income was $65.6 million, a 6.3% increase year-over-year. Key metrics included a 1.54% return on average assets for Q4, a decline from 2.07% the previous quarter. The efficiency ratio worsened to 40.3% from 36.4% in Q3. Total assets rose to $3.43 billion, with total loans increasing 2.6% to $3.06 billion. However, noninterest income fell 64.8% compared to Q3 and 76.1% year-over-year, driven by lower mortgage loan fees and SBA loan gains.
MetroCity Bankshares, Inc. (NASDAQ: MCBS) has declared a quarterly cash dividend of $0.18 per share on its common stock. This dividend is payable on February 10, 2023, to shareholders of record as of February 1, 2023. The announcement reflects the company’s commitment to returning value to its shareholders amid its operations across multiple states including Georgia, Alabama, Florida, Texas, and New Jersey.
MetroCity reported a net income of $16.9 million, or $0.66 per diluted share, for Q3 2022, up from $16.1 million in Q2 2022. Year-to-date, net income reached $52.4 million, a 18.7% increase from $44.3 million in 2021. Total assets grew 5.7% this quarter to $3.35 billion, with loans increasing 7.5% to $2.98 billion. However, the efficiency ratio worsened to 36.4% from 34.8% last year, while the annualized return on equity and assets decreased.
MetroCity Bankshares, Inc. (NASDAQ: MCBS) declared a quarterly cash dividend of $0.15 per share, payable on November 10, 2022, to shareholders of record as of November 2, 2022. The announcement reflects the company's commitment to returning value to its shareholders while maintaining a strong financial position. MetroCity operates 19 branches across various states including Alabama, Florida, Georgia, New York, New Jersey, Texas, and Virginia, highlighting its extensive presence in multi-ethnic communities.
MetroCity Bankshares, Inc. (NASDAQ: MCBS) reported a net income of $16.1 million ($0.63 per diluted share) for Q2 2022, down 17.1% from Q1 2022 but up 11.9% year-over-year. Total assets increased to $3.17 billion, driven by a 10.3% rise in total loans to $2.77 billion. The annualized return on average assets was 2.16%, while the efficiency ratio rose to 37.6%. Interest income increased by 3.4% sequentially, bolstered by higher average loan balances, despite a significant rise in interest expenses. Noninterest income experienced a sharp decline, primarily due to lower SBA servicing income.
MetroCity Bankshares, Inc. (NASDAQ: MCBS) has declared a quarterly cash dividend of $0.15 per share on its common stock. This dividend is payable on August 12, 2022, to shareholders of record as of August 3, 2022. The bank operates 19 branches across several states, including Alabama, Florida, Georgia, New York, New Jersey, Texas, and Virginia, serving multi-ethnic communities. This distribution reflects the company's ongoing commitment to returning value to its shareholders.
MetroCity Bankshares, Inc. (MCBS) reported a net income of $19.4 million for Q1 2022, up 11.4% from Q4 2021 and 49.7% year-over-year. Net interest income increased by $1.0 million quarter-over-quarter, with total assets rising by $36.2 million to $3.14 billion. Loans grew by 1.8% to $2.55 billion, and deposits surged 5.3% to $2.38 billion. The efficiency ratio improved to 31.8% from 33.7% in Q4 2021. However, noninterest income decreased by 6.5% year-over-year.
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