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Jun 30, 2023
Metrocity Q2 2023 Earnings Report
Metrocity's financial performance decreased due to decrease in net interest income and noninterest income, increase in noninterest expense.
Key Takeaways
MetroCity Bankshares, Inc. reported a net income of $13.1 million, or $0.51 per diluted share, for the second quarter of 2023. Total assets increased to $3.48 billion, and total deposits reached $2.70 billion.
Net income was $13.1 million, a decrease of 16.7% from the previous quarter.
Annualized return on average assets was 1.55%.
Total assets increased by $56.1 million, or 1.6%, to $3.48 billion from the previous quarter.
Total deposits increased by $54.4 million, or 2.1%, to $2.70 billion from the previous quarter.
Metrocity
Metrocity
Forward Guidance
Statements in the press release regarding future events and the company's expectations and beliefs about their future financial performance and financial condition, as well as trends in their business and markets, constitute forward-looking statements.