Quarterly ResultMay 8, 2026, 04:08 PM
MetroCity Bankshares Q1 Net Income $22.3M, EPS $0.78
AI Summary
MetroCity Bankshares reported a significant increase in net income and EPS for the first quarter of 2026. Net income available to common shareholders rose 37% to $22.3 million, with basic EPS reaching $0.78. The company also saw a substantial rise in net interest income and noninterest income, though noninterest expenses increased due to merger-related costs from the First IC acquisition. The allowance for credit losses saw a recovery, and the company repurchased common stock.
Key Highlights
- Net income available to common shareholders increased 37% to $22.3 million.
- Basic earnings per share rose 21.9% to $0.78.
- Net interest income grew 45.6% to $44.5 million.
- Total noninterest income increased 16.5% to $6.4 million.
- Provision for credit losses was a recovery of $813,000, compared to a provision of $135,000 in Q1 2025.
- Total assets decreased to $4.69 billion from $4.77 billion at year-end 2025.
- Common stock dividends declared were $0.25 per share, up from $0.23 per share.
- Repurchased $4.4 million of common stock during the quarter.
Price Impact
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