MetroCity Bankshares, Inc.

Listed Company

MCBSCIK 0001747068NasdaqAcceleratedState Commercial BanksGeorgiaFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$68.53M

Total Assets

$4.77B

Equity

$544.18M

Shares Out

28.76M

Op. Cash Flow

$37.70M

Business

MetroCity Bankshares, Inc. is a bank holding company that operates through its wholly owned subsidiary, Metro City Bank, providing full-service commercial banking to small- and medium-sized businesses and individuals. It offers loan and deposit products including construction and development, commercial real estate, commercial and industrial, residential mortgage and SBA/USDA loans, as well as treasury management, trade finance, online and mobile banking, debit/ATM services, and mortgage and SBA servicing. Key business components include its banking subsidiary, diversified lending portfolios, treasury/merchant services, securities management and loan servicing. The Company distributes products through a network of full-service branches in multi-ethnic communities, ATMs, digital channels, telephone and brokered deposit arrangements across Alabama, Florida, Georgia, New York, New Jersey, Texas and Virginia.

Summary from filing dated 2025-03-10

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans, including fees	209	201	182	143	108
Other investment income	11	12	11	4	885,000
Federal funds sold	559,000	305,000	177,000	75,000	5,000
Total interest income	221	213	193	147	109
Deposits	73	80	81	24	—
FHLB advances and other borrowings	17	15	11	4	624,000
Total interest expense	90	95	91	28	—
Net interest income	130	118	101	120	104
Provision for loan losses	−336,000	668,000	−92,000	—	—
Provision for unfunded commitments	18,000	−152,000	77,000	—	—
Provision for credit losses	−318,000	516,000	−15,000	−3	7
Net interest income after provision for credit losses	131	118	101	122	97
Gain on sale of residential mortgage loans	4	2	—	2	—
Mortgage servicing income, net	2	2	−193,000	−561,000	−564,000
Gain on sale of SBA loans	2	3	3	2	11
SBA servicing income, net	4	4	5	2	6
Other income	3	3	3	1	1
Total noninterest income	25	23	18	18	34
Salaries and employee benefits	37	33	29	31	30
Occupancy and equipment	6	6	5	5	5
Data processing	2	1	1	1	1
Advertising	657,000	634,000	614,000	606,000	541,000
Merger-related expenses	5	—	—	—	—
Other expenses	14	13	12	12	12
Total noninterest expense	63	53	48	49	48
Income before provision for income taxes	93	87	72	91	83
Provision for income taxes	24	23	20	29	21
Net income	69	65	52	63	62
Basic (in dollars per share)	2.66	2.55	2.05	2.46	2.41
Diluted (in dollars per share)	2.64	2.52	2.02	2.44	2.39

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	371	236	142	151	433
Federal funds sold	13	14	3	29	9
Cash and cash equivalents	384	250	145	179	441
Equity securities	19	10	10	10	11
Securities available for sale (at fair value)	47	17	18	19	—
Loans held for sale	10	—	22	—	—
Loans, less allowance for credit losses of $27,843 and $18,744, respectively	4,024	3,139	3,124	3,042	—
Accrued interest receivable	20	16	15	13	11
Federal Home Loan Bank stock	28	20	18	17	20
Premises and equipment, net	30	18	18	14	13
Operating lease right-of-use asset	15	8	8	8	9
Foreclosed real estate, net	208,000	427,000	1	4	4
SBA and USDA servicing asset, net	11	7	7	7	10
Mortgage servicing asset, net	2	1	1	4	8
Bank owned life insurance	76	73	71	69	59
Goodwill	56	—	—	—	—
Core deposit intangible	13	—	—	—	—
Interest rate derivatives	6	22	32	29	367,000
Other assets	29	11	11	10	5
Total assets	4,768	3,594	3,503	3,427	3,106
Noninterest-bearing demand	781	536	512	612	592
Interest-bearing	2,865	2,201	2,219	2,055	1,671
Total deposits	3,646	2,737	2,731	2,667	2,263
Federal Home Loan Bank advances	510	375	325	375	500
Operating lease liability	15	8	9	9	10
Accrued interest payable	11	3	4	3	204,000
Other liabilities	42	49	53	24	42
Total liabilities	4,224	3,173	3,121	3,078	2,816
Preferred stock, $0.01 par value, 10,000,000 shares authorized, no shares issued or outstanding	—	—	—	—	—
Common stock, $0.01 par value, 40,000,000 shares authorized, 28,817,967 and 25,402,782 shares issued and outstanding, respectively	1	254,000	252,000	252,000	255,000
Additional paid-in capital	139	49	46	45	52
Retained earnings	403	359	315	286	239
Accumulated other comprehensive income	2	13	20	18	−168,000
Total shareholders' equity	544	421	382	349	290
Total liabilities and shareholders' equity	4,768	3,594	3,503	3,427	3,106

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income	69	65	52	63	62
Depreciation, amortization and accretion	4	3	3	4	3
Stock based compensation expense	3	3	2	2	1
Unrealized (gains) losses recognized on equity securities	−346,000	35,000	−35,000	1	114,000
(Gain) loss on sale of foreclosed real estate	−28,000	59,000	−547,000	15,000	108,000
Writedown of foreclosed real estate	—	377,000	240,000	—	—
Deferred income tax expense	643,000	350,000	1	−3	−3
Gain on sale of residential mortgages	−4	−2	—	−2	—
Origination of SBA loans held for sale	−50	−74	−73	−32	−127
Proceeds from sales of SBA loans held for sale	53	77	76	34	138
Increase in cash value of bank owned life insurance	−3	−2	−2	−2	−1
Increase in accrued interest receivable	−2	−733,000	−2	−2	−381,000
Decrease (increase) in SBA and USDA servicing rights	524,000	−23,000	−166,000	3	−591,000
(Increase) decrease in mortgage servicing rights	−251,000	−136,000	3	4	5
(Increase) decrease in state tax credits	−9	2	−639,000	—	—
(Increase) decrease in other assets	−1	977,000	−2	−8	3
(Decrease) increase in accrued interest payable	−1	−635,000	1	3	−18,000
(Decrease) increase in other liabilities	−19	−5	27	−22	−10
Net cash flow provided by operating activities	38	64	82	135	65
Purchases of equity securities	−8	—	—	—	−12
Proceeds from maturities, calls or paydowns of securities available for sale	3	640,000	1	3	3
Purchase of Federal Home Loan Bank stock	−2	−2	−353,000	2	−14
Proceeds from sales of residential real estate loans	314	189	—	—	—
Increase in loans, net	−190	−182	−110	−647	−876
Purchases of premises and equipment	−674,000	−1	−5	−2	−384,000
Proceeds from sales of foreclosed real estate owned	2	1	4	41,000	986,000
Net cash acquired in First IC acquisition	9	—	—	—	—
Net cash flow provided by (used by) investing activities	127	6	−110	−652	−931
Premiums paid for interest rate caps	−1	—	—	—	—
(Decrease) increase in deposits, net	−52	6	64	404	783
Proceeds from Federal Home Loan Bank advances	100	450	425	525	640
Repayments of Federal Home Loan Bank advances	−50	−400	−475	−650	−250
Decrease in other borrowings, net	—	—	−392,000	−67,000	−24,000
Exercise of stock options	—	900,000	—	—	—
Repurchase of common stock	−3	−10,000	−2	−8	−6
Stock issuance costs	−272,000	—	—	—	—
Dividends paid on common stock	−25	−21	−18	−15	−12
Net cash flow (used by) provided by financing activities	−31	36	−7	255	1,156
Net change in cash and cash equivalents	134	105	−35	−262	291
Transfer of residential real estate loans to loans held for sale	321	165	22	95	—
Transfer of loan principal to foreclosed real estate, net of write-downs	2	661,000	940,000	766,000	868,000
Initial recognition of operating lease right-of-use assets	3	1	2	2	560,000
Initial recognition of operating lease liabilities	3	1	2	2	560,000
Common stock issued for First IC acquisition	90	—	—	—	—
Fair value of assets acquired, net of cash acquired	1,152	—	—	—	—
Fair value of liabilities assumed	1,071	—	—	—	—
Interest	91	95	90	25	5
Income taxes	22	22	18	34	24

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