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.
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MetroCity Bankshares, Inc. (NASDAQ: MCBS) reported a net income of $16.9 million, or $0.66 per diluted share, for Q3 2021, reflecting a 17.3% increase from Q2 2021. Year-to-date net income reached $44.3 million, up 64.4% compared to the same period in 2020. Significant growth was observed in total loans, which rose 12.9% to $2.36 billion, and total assets increased 9.2% to $2.75 billion. The efficiency ratio improved to 34.8% from 36.2% in the prior quarter, indicating enhanced operational efficiency.
MetroCity Bankshares, Inc. (NASDAQ: MCBS) has declared a quarterly cash dividend of $0.14 per share, payable on November 12, 2021. Shareholders on record as of November 3, 2021, will receive this dividend. The company operates 19 branches across various states, including Georgia, Texas, and New York, aiming to serve multi-ethnic communities. This announcement reflects the bank's commitment to returning value to its investors.
MetroCity Bankshares, Inc. (MCBS) reported Q2 2021 net income of $14.4 million, or $0.56 per diluted share, up from $13.0 million in Q1 2021 and $7.7 million in Q2 2020. Total assets rose 16.9% to $2.52 billion, while total loans increased 12.1% to $2.09 billion. Net interest margin remained stable at 4.60%. The annualized return on average assets was 2.53%, and return on average equity hit 22.51%. Noninterest income grew 5.0% from Q1, primarily due to higher mortgage fees.
MetroCity Bankshares, Inc. (NASDAQ: MCBS) declared a quarterly cash dividend of $0.12 per share on July 21, 2021. This dividend will be paid on August 12, 2021 to shareholders on record as of August 3, 2021. The bank operates 19 full-service branches across multiple states, including Alabama, Florida, Georgia, New York, New Jersey, Texas, and Virginia, serving diverse communities. This announcement reflects the bank's commitment to returning value to shareholders.
MetroCity Bankshares, Inc. (NASDAQ: MCBS) has announced a share repurchase program for the 2021 calendar year, allowing for the buyback of up to 1,000,000 shares of its common stock. The repurchases may occur through open market or private transactions at management's discretion, depending on market conditions and the Company's financial performance. The program aims to enhance shareholder value, with a completion deadline set for December 31, 2021. Funding will be sourced from cash on hand.
MetroCity Bankshares reported a net income of $13.0 million, or $0.50 per diluted share, for Q1 2021, up 37.3% from Q4 2020. Key metrics include an annualized return on average assets of 2.62% and return on equity of 21.35%. Total assets increased by 13.5% to $2.15 billion, driven by a 14.5% rise in loans to $1.87 billion and an 18.0% climb in deposits to $1.75 billion. The efficiency ratio improved to 36.0%.
MetroCity Bankshares, Inc. (NASDAQ: MCBS) has declared a quarterly cash dividend of $0.10 per share on its common stock. This dividend is set to be paid on May 13, 2021 to shareholders recorded as of May 4, 2021. The bank operates 19 branches across several states, including Alabama, Florida, and Texas, serving multi-ethnic communities. This dividend announcement reflects the company's commitment to returning value to its shareholders.
MetroCity Bankshares, Inc. (NASDAQ: MCBS) reported a net income of $9.5 million, or $0.37 per diluted share, for Q4 2020, slightly up from $9.4 million in Q3 2020 but down from $10.7 million in Q4 2019. For the year, net income decreased to $36.4 million from $44.7 million in 2019. The bank's total assets grew by 9% to $1.90 billion, driven by an 11.7% increase in loans and 10.6% rise in deposits. The net interest margin improved to 4.46%. However, returns on assets and equity declined year-over-year, highlighting ongoing challenges amid the COVID-19 pandemic.
MetroCity Bankshares, Inc. (NASDAQ: MCBS) has declared a quarterly cash dividend of $0.10 per share on its common stock. The dividend is payable on February 12, 2021 to shareholders of record as of February 3, 2021. This announcement underscores the company's commitment to returning value to its shareholders amid its operations in diverse communities across multiple states, including Alabama, Florida, Georgia, New York, New Jersey, Texas, and Virginia.
MetroCity Bankshares, Inc. (NASDAQ: MCBS) reported a net income of $9.4 million for Q3 2020, an increase of 21.3% from Q2 2020 but 24.0% lower than Q3 2019. The annualized return on average assets rose to 2.20%, while the equity return climbed to 16.22%. Total loans increased by 7.0% to $1.46 billion. Nonperforming assets reached 1.01% of total assets. Challenges from the COVID-19 pandemic continue to impact operations, although the company has implemented loan deferral programs to assist customers.
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