---
schema_version: "secwatch.filing_event.v1"
accession: "0001747068-23-000027"
form_type: "8-K"
ticker: "MCBS"
cik: "0001747068"
company_name: "MetroCity Bankshares, Inc."
filed_at: "2023-04-21T23:59:59+00:00"
generated_at: "2026-06-16T21:28:57.146123+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# MetroCity Q1 net income $15.7M ($0.62 EPS) up 54% QoQ but down 19% YoY; NIM 3.30%

## Summary
- Net income $15.7M, diluted EPS $0.62, up 54% from Q4 2022 but down 19% YoY.
- Net interest margin compressed to 3.30% from 3.58% QoQ and 4.16% YoY due to higher deposit costs.
- Loans held for investment $3.01B, down 1.4% QoQ; deposits $2.64B, down 0.9% QoQ.
- Adopted CECL on Jan 1, 2023, increasing allowance by $5.1M and reducing retained earnings $3.9M after-tax.
- Nonperforming assets fell to $19.5M (0.57% of assets) from $24.5M; allowance/loans ratio at 0.63%.

## SEC filing metadata
- accession: 0001747068-23-000027
- form_type: 8-K
- ticker: MCBS
- cik: 0001747068
- company_name: MetroCity Bankshares, Inc.
- filed_at: 2023-04-21T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1747068/000174706823000027/0001747068-23-000027-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1747068/000174706823000027/mcbs-20230421x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001747068-23-000027
- JSON: https://secwatch.observer/filing/0001747068-23-000027.json
- Plain text: https://secwatch.observer/filing/0001747068-23-000027.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.