---
schema_version: "secwatch.filing_event.v1"
accession: "0001747068-23-000078"
form_type: "8-K"
ticker: "MCBS"
cik: "0001747068"
company_name: "MetroCity Bankshares, Inc."
filed_at: "2023-10-20T23:59:59+00:00"
generated_at: "2026-06-09T18:42:30.734464+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# MetroCity Q3 net income $11.4M ($0.45 EPS) down 32% YoY; NIM compresses to 2.94%

## Summary
- Net income of $11.4M ($0.45 diluted EPS) vs $13.1M ($0.51) in Q2'23 and $16.9M ($0.66) in Q3'22.
- Net interest margin fell 16 bps QoQ to 2.94% from 3.10% as deposit costs rose 23 bps.
- Nonperforming assets increased to $37.8M (1.08% of assets) from $23.6M (0.68%) at June 30, 2023.
- SBA loan sales dropped sharply: $5.2M in Q3 vs $30.3M in Q2, driving noninterest income down 39%.
- Total assets $3.51B (+1.0% QoQ); deposits $2.72B (+0.7%); loan growth modest at $9.2M.

## SEC filing metadata
- accession: 0001747068-23-000078
- form_type: 8-K
- ticker: MCBS
- cik: 0001747068
- company_name: MetroCity Bankshares, Inc.
- filed_at: 2023-10-20T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- 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/1747068/000174706823000078/0001747068-23-000078-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1747068/000174706823000078/mcbs-20231020x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001747068-23-000078
- JSON: https://secwatch.observer/filing/0001747068-23-000078.json
- Plain text: https://secwatch.observer/filing/0001747068-23-000078.txt

## Key facts
- Earnings Releases
  MetroCity Bankshares, Inc. reported the nine months ended September 30, 2023 results: net income net income of $40.3 million, or $1.58 per diluted share, EPS $1.58 per diluted share.
  - Period: the nine months ended September 30, 2023
  - Net income: net income of $40.3 million, or $1.58 per diluted share
  - EPS: $1.58 per diluted share
  - Result: reported results
  source text: For the nine months ended September 30, 2023, the Company reported net income of $40.3 million, or $1.58 per diluted share, compared to $52.4 million, or $2.04 per diluted share, for the same period in 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1747068/000174706823000078/0001747068-23-000078-index.htm
- Earnings Releases
  MetroCity Bankshares, Inc. reported the third quarter ended September 30, 2023 results: net income net income of $11.4 million, or $0.45 per diluted share, EPS $0.45 per diluted share.
  - Period: the third quarter ended September 30, 2023
  - Net income: net income of $11.4 million, or $0.45 per diluted share
  - EPS: $0.45 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 $11.4 million, or $0.45 per diluted share, for the third quarter of 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1747068/000174706823000078/0001747068-23-000078-index.htm

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