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. (NASDAQ: MCBS) is the bank holding company for Metro City Bank, a Georgia state-chartered bank headquartered in Doraville, Georgia. This news page aggregates company-issued press releases and other coverage related to MetroCity’s operations as a commercial bank, its financial performance, and its corporate actions.
Recent MetroCity news has focused on quarterly earnings announcements, cash dividend declarations, share repurchase program authorizations, and the strategic combination with First IC Corporation. Earnings releases provide detail on net income, net interest income, net interest margin, noninterest income and expense, loan and deposit trends, and asset quality metrics. Dividend and repurchase announcements describe how the board of directors is managing capital and returning value to shareholders.
MetroCity’s news flow also includes updates on its merger and acquisition activity. In 2025, MetroCity and First IC Corporation announced a definitive merger agreement, followed by regulatory and shareholder approvals, an expected closing timeline, and a subsequent release confirming completion of the acquisition of First IC Corporation and First IC Bank. These releases describe the combined company’s approximate asset size, loan and deposit balances, and expanded branch network across Alabama, California, Florida, Georgia, New Jersey, New York, Texas and Virginia.
Investors and observers can use this page to review MetroCity’s historical press releases on earnings for various quarters, details on its interest rate derivatives and balance sheet composition, as well as official communications filed in connection with material events. For ongoing research on MCBS, this news feed offers a centralized view of the company’s reported financial results, strategic transactions and board-level decisions.
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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.
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