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Sep 30, 2021
Metrocity Q3 2021 Earnings Report
Metrocity reported net income increase driven by net interest income and noninterest income growth.
Key Takeaways
MetroCity Bankshares, Inc. reported a net income of $16.9 million, or $0.66 per diluted share, for the third quarter of 2021, compared to $14.4 million, or $0.56 per diluted share, for the second quarter of 2021.
Annualized return on average assets was 2.61%, compared to 2.53% for the second quarter of 2021.
Annualized return on average equity was 25.23%, compared to 22.51% for the second quarter of 2021.
Efficiency ratio of 34.8%, compared to 36.2% for the second quarter of 2021.
Total assets increased by $232.4 million, or 9.2%, to $2.75 billion from the previous quarter.
Metrocity
Metrocity
Forward Guidance
This press release contains forward-looking statements that are subject to risks and uncertainties, and actual results could differ materially from those expressed or implied.