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Jun 30, 2024
Metrocity Q2 2024 Earnings Report
Reported a net income increase due to rise in interest income and decrease in interest expense.
Key Takeaways
MetroCity Bankshares, Inc. reported a net income of $16.9 million, or $0.66 per diluted share, for Q2 2024. This represents an increase compared to the previous quarter and the same quarter last year. The increase was primarily due to higher interest income and lower interest expense.
Net income for the second quarter of 2024 was $16.9 million, an increase of $2.3 million from the first quarter of 2024.
Annualized return on average assets was 1.89%, compared to 1.65% for the first quarter of 2024.
Annualized return on average equity was 17.10%, compared to 15.41% for the first quarter of 2024.
Net interest margin increased by 42 basis points to 3.66% from 3.24% for the previous quarter.
Revenue by Segment
Forward Guidance
This document does not contain any forward guidance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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