MetroCity Bankshares, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 20, 2023 at 10:00 am EDT
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MetroCity Bankshares, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 24.15 million compared to USD 29.79 million a year ago. Net income was USD 11.43 million compared to USD 16.89 million a year ago. Basic earnings per share from continuing operations was USD 0.45 compared to USD 0.66 a year ago. Diluted earnings per share from continuing operations was USD 0.45 compared to USD 0.66 a year ago.
For the nine months, net interest income was USD 75.36 million compared to USD 90.66 million a year ago. Net income was USD 40.27 million compared to USD 52.42 million a year ago. Basic earnings per share from continuing operations was USD 1.6 compared to USD 2.06 a year ago. Diluted earnings per share from continuing operations was USD 1.58 compared to USD 2.04 a year ago.
MetroCity Bankshares, Inc. is a bank holding company. It operates through its banking subsidiary, Metro City Bank (the Bank), which is a Georgia state-chartered commercial bank. It offers a suite of loan and deposit products. The Bank operates over 20 full-service branch locations in multi-ethnic communities in Alabama, Florida, Georgia, New York, New Jersey, Texas and Virginia. It offers customary banking services, such as consumer and commercial checking accounts, savings accounts, certificates of deposit, commercial and consumer loans, including single family residential loans, money transfers and a variety of other banking services. It offers traditional depository products, including checking, savings, money market and certificates of deposits. It also offers a full suite of online banking solutions, including access to account balances, online transfers, online bill payment and electronic delivery of customer statements, mobile banking solutions for iPhone and Android phones.
METROCITY BANKSHARES, INC. 
