---
schema_version: "secwatch.filing_event.v1"
accession: "0001747068-24-000007"
form_type: "8-K"
ticker: "MCBS"
cik: "0001747068"
company_name: "MetroCity Bankshares, Inc."
filed_at: "2024-01-23T23:59:59+00:00"
generated_at: "2026-06-06T20:08:47.779478+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# MetroCity Q4 net income $11.3M ($0.44 EPS); FY 2023 net income down 17.6% to $51.6M

## Summary
- Q4 net income $11.3M ($0.44 diluted EPS) vs $11.4M ($0.45) Q3 and $10.2M ($0.40) Q4 2022.
- FY 2023 net income $51.6M ($2.02 diluted EPS) down from $62.6M ($2.44) in FY 2022.
- Net interest margin improved to 3.17% from 2.94% QoQ; loans grew 4.4% to $3.16B.
- Nonperforming assets rose to 1.10% of total assets from 0.71% a year ago; allowance 0.58%.
- Efficiency ratio 45.1% in Q4 vs 40.0% a year ago; full year 39.9% vs 35.8%.

## SEC filing metadata
- accession: 0001747068-24-000007
- form_type: 8-K
- ticker: MCBS
- cik: 0001747068
- company_name: MetroCity Bankshares, Inc.
- filed_at: 2024-01-23T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1747068/000174706824000007/0001747068-24-000007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1747068/000174706824000007/mcbs-20240123x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001747068-24-000007
- JSON: https://secwatch.observer/filing/0001747068-24-000007.json
- Plain text: https://secwatch.observer/filing/0001747068-24-000007.txt

## Key facts
- Earnings Releases
  MetroCity Bankshares, Inc. reported the fourth quarter and year ended December 31, 2023 results: net income net income of $11.3 million, or $0.44 per diluted share, for the fourth quarter of 2023.
  - Period: the fourth quarter and year ended December 31, 2023
  - Net income: net income of $11.3 million, or $0.44 per diluted share, for the fourth quarter of 2023
  - Result: reported results
  source text: On January 23, 2024, MetroCity Bankshares, Inc. (the “Company”) issued a press release announcing its results of operations and financial condition for the fourth quarter and year ended December 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1747068/000174706824000007/0001747068-24-000007-index.htm

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