Quarterly ResultJul 24, 2026, 04:03 PM
MetroCity Bankshares Q2 Net Income $22.1M, EPS $0.76
AI Summary
MetroCity Bankshares, Inc. reported net income of $22.1 million, or $0.76 per diluted share, for the second quarter of 2026. This represents a slight decrease from the previous quarter but a significant increase year-over-year, largely driven by the First IC Corporation acquisition in Q4 2025. The company saw an improvement in its net interest margin to 4.11% but experienced a decrease in total assets and deposits quarter-over-quarter, alongside an increase in nonperforming assets.
Key Highlights
- Net income for Q2 2026 was $22.1 million, a 0.8% decrease from Q1 2026 but a 31.5% increase from Q2 2025.
- Diluted earnings per share (EPS) for Q2 2026 was $0.76, down from $0.77 in Q1 2026 but up from $0.65 in Q2 2025.
- Net interest margin (NIM) increased to 4.11% in Q2 2026, up from 4.08% in Q1 2026 and 3.77% in Q2 2025.
- Total assets decreased by $168.4 million to $4.52 billion at June 30, 2026, compared to March 31, 2026.
- Total deposits decreased by $137.3 million to $3.49 billion at June 30, 2026, compared to March 31, 2026.
- Nonperforming assets increased to $18.7 million, or 0.41% of total assets, at June 30, 2026, from $18.0 million at March 31, 2026.
- The company recorded a recovery for credit losses of $792,000 in Q2 2026, following a recovery of $813,000 in Q1 2026.
- Declared a dividend per share of $0.29 for Q2 2026.
Price Impact
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