---
schema_version: "secwatch.filing_event.v1"
accession: "0001747068-24-000019"
form_type: "8-K"
ticker: "MCBS"
cik: "0001747068"
company_name: "MetroCity Bankshares, Inc."
filed_at: "2024-04-19T23:59:59+00:00"
generated_at: "2026-06-03T16:21:35.882089+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# MetroCity Q1 net income $14.6M ($0.57 EPS); up 29% QoQ but down 7% YoY

## Summary
- Net income $14.6M ($0.57 diluted EPS) vs $11.3M ($0.44) in Q4 2023 and $15.7M ($0.62) in Q1 2023.
- Net interest margin 3.24%, up 7bp from Q4 2023; net interest income rose $963K sequentially.
- Total assets $3.65B (+4.1% QoQ); total deposits $2.81B (+3.0% QoQ).
- Nonperforming assets $30.3M (0.83% of assets), down from $38.4M at Dec 31, 2023.
- Efficiency ratio improved to 37.9% from 45.1% in Q4 2023; ROAA 1.65% vs 1.29% prior quarter.

## SEC filing metadata
- accession: 0001747068-24-000019
- form_type: 8-K
- ticker: MCBS
- cik: 0001747068
- company_name: MetroCity Bankshares, Inc.
- filed_at: 2024-04-19T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- 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/1747068/000174706824000019/0001747068-24-000019-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1747068/000174706824000019/mcbs-20240419x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001747068-24-000019
- JSON: https://secwatch.observer/filing/0001747068-24-000019.json
- Plain text: https://secwatch.observer/filing/0001747068-24-000019.txt

## Key facts
- Earnings Releases
  MetroCity Bankshares, Inc. reported first quarter ended March 31, 2024 results: net income $14.6 million, EPS $0.57 per diluted share.
  - Period: first quarter ended March 31, 2024
  - Net income: $14.6 million
  - EPS: $0.57 per diluted share
  - Result: reported results
  source text: On April 19, 2024, MetroCity Bankshares, Inc. (the “Company”) issued a press release announcing its results of operations and financial condition for the first quarter ended March 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1747068/000174706824000019/0001747068-24-000019-index.htm

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