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Dec 31, 2020
Metrocity Q4 2020 Earnings Report
Reported earnings for the fourth quarter and year ended 2020.
Key Takeaways
MetroCity Bankshares, Inc. reported a net income of $9.5 million, or $0.37 per diluted share, for the fourth quarter of 2020. Total assets increased by $156.3 million to $1.90 billion from the previous quarter, and total loans increased by $170.4 million to $1.63 billion from the previous quarter.
Annualized return on average assets was 2.14%.
Annualized return on average equity was 15.78%.
Efficiency ratio of 45.1%.
Net interest margin increased to 4.46%.
Metrocity
Metrocity
Forward Guidance
Management expects to be able to continue 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 well capitalized.