Quarterly ResultAug 7, 2026, 04:05 PM
MetroCity Bankshares Q2 Net Income Up 31.5% to $22.1M; EPS $0.77
AI Summary
MetroCity Bankshares reported a strong second quarter and first half of 2026, with net income significantly increasing year-over-year. The company's net interest income saw substantial growth, and it recorded a recovery in its provision for credit losses. Total assets and deposits experienced a slight decrease compared to year-end 2025, while shareholders' equity grew, reflecting the impact of the First IC Corporation acquisition completed in late 2025.
Key Highlights
- Net income for Q2 2026 increased 31.5% to $22.1 million from $16.8 million in Q2 2025.
- Basic EPS for Q2 2026 rose 16.7% to $0.77 from $0.66 in Q2 2025.
- Net interest income for Q2 2026 grew 36.8% to $44.0 million from $32.2 million in Q2 2025.
- Total assets decreased to $4.52 billion as of June 30, 2026, from $4.77 billion at Dec 31, 2025.
- Total deposits were $3.49 billion as of June 30, 2026, down from $3.65 billion at Dec 31, 2025.
- Shareholders' equity increased to $567.9 million as of June 30, 2026, from $544.2 million at Dec 31, 2025.
- Provision for credit losses was a recovery of $792k in Q2 2026, compared to a $129k provision in Q2 2025.
- First IC Corporation acquisition completed December 1, 2025, for $202.3 million, including $56.0 million goodwill.
Price Impact
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