MetroCity Bankshares ( (MCBS) ) has released its Q1 earnings. Here is a breakdown of the information MetroCity Bankshares presented to its investors.
MetroCity Bankshares, Inc. is a Georgia-based bank holding company for Metro City Bank, operating 20 full-service branches across several states, focusing on serving multi-ethnic communities. In the first quarter of 2025, MetroCity reported a net income of $16.3 million, or $0.63 per diluted share, showing a slight increase from the previous quarter and a notable rise from the same period last year. Key financial metrics include a net interest margin of 3.67%, an efficiency ratio of 38.3%, and a return on average assets of 1.85%. The company also announced a merger agreement with First IC Corporation, expected to close in the fourth quarter of 2025, which will significantly expand its asset base and market presence. Looking ahead, MetroCity Bankshares aims to leverage its strategic positioning and scale to enhance technology investments and growth opportunities, while navigating the challenges posed by economic conditions and regulatory requirements.