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Mar 31, 2020
Metrocity Q1 2020 Earnings Report
Reported earnings for the first quarter of 2020.
Key Takeaways
MetroCity Bankshares, Inc. reported a net income of $9.8 million, or $0.38 per diluted share, for the first quarter of 2020, compared to $8.7 million, or $0.36 per diluted share, for the first quarter of 2019.
Net income of $9.8 million, or $0.38 per diluted share.
Annualized return on average assets was 2.44%.
Annualized return on average equity was 18.21%.
Efficiency ratio of 42.9%.
Metrocity
Metrocity
Forward Guidance
Based on the Company’s capital levels, conservative underwriting policies, low loan-to-value ratios, and strong liquidity position, management expects to be able to assist the Company’s customers and communities during these difficult times, manage the economic risks and uncertainties associated with the COVID-19 pandemic and remain adequately capitalized.