MetroCity Q4 EPS $0.63, down QoQ but up 43% YoY; FY 2024 income up 25%

MetroCity Bankshares, Inc.

2024-FY EPS reported $2.52

Net income $16.2M ($0.63 diluted EPS) vs Q3 $16.7M ($0.65) and Q4 2023 $11.3M ($0.44).
FY 2024 net income $64.5M ($2.52 per diluted share), up 25% from $51.6M ($2.02) in FY 2023.
Net interest margin 3.57% for Q4 vs 3.58% prior Q and 3.17% year ago; loan growth $70.1M QoQ to $3.16B.
Nonperforming assets $18.4M (0.51% of assets), up from $15.8M (0.44%) in prior Q; ACL/loans 0.59%.
Efficiency ratio 40.5% for Q4 vs 37.0% prior Q and 45.1% year ago; FY ratio improved to 37.8%.

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