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Dec 31, 2021
Metrocity Q4 2021 Earnings Report
Reported earnings for Q4 and year ended 2021.
Key Takeaways
MetroCity Bankshares, Inc. reported a net income of $17.4 million, or $0.68 per diluted share, for the fourth quarter of 2021, compared to $9.5 million, or $0.37 per diluted share, for the fourth quarter of 2020. For the year ended December 31, 2021, the Company reported net income of $61.7 million, or $2.39 per diluted share, compared to $36.4 million, or $1.41 per diluted share, for the year ended December 31, 2020.
Annualized return on average assets was 2.33%, compared to 2.14% for the fourth quarter of 2020.
Annualized return on average equity was 24.80%, compared to 15.78% for the fourth quarter of 2020.
Efficiency ratio of 33.7%, compared to 45.1% for the fourth quarter of 2020.
Total assets increased by $355.9 million, or 12.9%, to $3.11 billion from the previous quarter.