MetroCity Bankshares Q2 2023 EPS $0.51, net income down 18.6% YoY

MetroCity Bankshares, Inc.

2023-Q2 EPS reported $1.13

Net income of $13.1M ($0.51 diluted EPS) vs $16.1M ($0.63) in Q2 2022.
Net interest margin fell to 3.10% from 3.30% in Q1 2023 and 4.26% in Q2 2022.
Total deposits increased $54.4M to $2.70B, driven by money market and time deposits.
Nonperforming assets rose to $23.6M (0.68% of total assets) from $19.5M in Q1 2023.
Uninsured deposits were 30.7% of total deposits; available borrowing capacity of $1.19B.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MetroCity Bankshares, Inc. reported the second quarter ended June 30, 2023 results: net income $13.1 million, EPS $0.51 per diluted share.

Period: the second quarter ended June 30, 2023
Net income: $13.1 million
EPS: $0.51 per diluted share
Result: reported results

Exact text from the filing

MetroCity Bankshares, Inc. (“MetroCity” or the “Company”) (NASDAQ: MCBS), holding company for Metro City Bank (the “Bank”), today reported net income of $13.1 million, or $0.51 per diluted share, for the second quarter of 2023

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MetroCity Bankshares, Inc. filing history →

Source: SEC EDGAR

accession 0001747068-23-000057

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