---
schema_version: "secwatch.filing_event.v1"
accession: "0001747068-23-000057"
form_type: "8-K"
ticker: "MCBS"
cik: "0001747068"
company_name: "MetroCity Bankshares, Inc."
filed_at: "2023-07-21T23:59:59+00:00"
generated_at: "2026-06-13T05:02:22.008391+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001747068-23-000057
- form_type: 8-K
- ticker: MCBS
- cik: 0001747068
- company_name: MetroCity Bankshares, Inc.
- filed_at: 2023-07-21T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1747068/000174706823000057/0001747068-23-000057-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1747068/000174706823000057/mcbs-20230721x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001747068-23-000057
- JSON: https://secwatch.observer/filing/0001747068-23-000057.json
- Plain text: https://secwatch.observer/filing/0001747068-23-000057.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1747068/000174706823000057/0001747068-23-000057-index.htm

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